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Don’t Go Broke Trying to Build an Online Business

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Forty Thousand Dollars Later

Are you a serial IM product buyer? Are you spending cash hand over fist in pursuit of an ideal approach to implement your business idea? Do you have a habit of buying everything you can, hoping to find the one last piece of your profit puzzle?

If you’re spending a fortune on your business, you’re not the only one. Far too many Internet marketers are doing the exact same thing.

And that’s totally understandable. It’s perfectly reasonable to purchase new products and information to refine your already-successful business. There’s nothing crazy about acquiring new information and products in order to stay abreast of changes in the business. Making those purchases before you have a profitable business is a different matter, though.

There’s a significant difference between trying to stay on the cutting edge and gambling on every possible tool in hopes of making a business work.

You want to spend your money the smart way. You want to avoid being the serial buyer whose efforts only add to his or her debt.

Buying the Right Way

How can you avoid dumping too much cash into things you don’t really need? It starts by building a rock-solid foundation. If you look at the core of Internet marketing, it’s really rather simple.

You need to have something to sell. You need a way to sell it. You need to secure traffic to the website you’ll be using to generate sales.

That’s IM in a nutshell. All of what you do needs to relate directly to one or more of those core basics.

That means that you should start by building a solid foundation on all three fronts. Everything you buy should support your efforts to work on one of those three factors.

Before you start reaching for details, tweaks, adjustments and tricks, you need to develop your core means of making online money. Once you have the basics in place, you’re going to start making money. After you’re making money, you can being looking at those extras and adjustments.

Smart Foundation Building

Getting the core of your business in place doesn’t require a massive investment. This is what you need to do.

  • Develop a holistic understanding of Internet marketing. You need to learn how things work from someone who’s spent time in the trenches.
  • Focus on ways to boost traffic. Traffic is, as noted, one of the core elements to a successful online business. It’s probably the most important of those three elements. Without traffic, you can’t determine if your product is interesting or if you’re sales strategy is working.| Absent traffic, you can’t determine if you have the right product or a workable sales strategy. You need to get people to your site as soon as possible.
  • Secure ongoing support. An ebook can be great. Solid tutorial videos are a great idea. However, developing a real relationship with a successful mentor is much more valuable than any ebook or video series. Quality ongoing coaching makes the learning curve less steep and prevents you from wasting time, energy and resources on things you don’t need.
  • Don’t overexpose yourself. Find a way to accomplish those objectives without putting yourself at risk of substantial loss. Look for opportunities to secure the right information at a reasonable price. Find a small business coaching opportunity that doesn’t require a fat up-front commitment and that doesn’t lock you into a multi-month contract.

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