How To Start A Million-Dollar Empire On A Shoe String Budget
Splattered across the media channels in the UK lately has been a
surge of Internet failure related news.
After millions of pounds/dollars have been spent in the
development of an exciting new venture, a couple of years down
the line the company has realised that the gold mine they
thought they were sitting on wasn't really a gold mine... it was
a flop. Millions wasted.
They had hundreds of employees... millions in the bank, plus
enough venture capital to enable them to last a lifetime. But
even with all of this support and monetary backing, they go bust
and wind up in financial ruins.
So what went wrong? Is the Internet to blame?
Not likely. The good news is there's a flip side to that coin.
Individuals who are starting with less than a couple of hundred
bucks are grossing PERSONAL incomes of $50,000 per month or
MORE. How can this be possible?
It's all about using money wisely. The smart individuals learn
the required development skills themselves and save HUGELY on
third-party working costs. Here's how...
The big businesses feel the need to spend lots of money on every
area of the business, just to feel more secure. Example costs of
a typical "big Internet startup" might be:
Office space: $200,000 Website development: $50,000 Employee
wages: $500,000 Business/Legal expenses: $10,000 Marketing
expenses: $500,000 Product related costs: $100,000
In the first year it's likely that they'd have spent $1.5M or
more. Each product they sell might produce a 200% mark-up at
best. Now compare that to an entrepreneur running an automated
web service that he sells for $20 per month:
Office space: NO cost (they work from home) Website development:
$35 p/m for web hosting Employee wages: NO cost. It's fully
automated. Business/Legal Expenses: Maybe $500 a year Marketing
Expenses: $200 a month Product related costs: NONE
After a year, a little over $1000 is spent whilst the product
brings in a mark-up of over 10,000% or more.
The money that is earned belongs to the entrepreneur. He/She has
NO employees, NO additional overhead expenses, NO product costs
and their marketing is sorted through affiliate/joint ventures.
If handling email gets hectic, they could pay someone a couple
of hundred dollars per week to outsource support to someone
else... NO need to work from an office, since they can handle it
from home.
With the huge corporate website, their funds are quickly
depleted due to massive overhead expenses and lack of money
coming it. It can take a big company 3-5 years before they ever
see a profit.. whilst a home-based entrepreneur can make a
return on his/her investment in their first month.
That's what makes the Internet such an attractive business
model. A smart entrepreneur could earn $10,000 or more per week
in PERSONAL income. Compare this to $400 p/w working for a
corporation... paying travelling expenses, having to dress
smartly for work, following specific jobs, etc. It makes much
more sense to "go it alone" online.
The 3 Key Ingredients To Personal Online Success Are:
1) A solid plan and the skills to be able to achieve that plan.
A good businessman is a good decision maker, and you need to
make the right decisions regarding your Internet presence
development to ensure your success.
2) MOTIVATION... 100% dedication at all times. It's never a
smooth ride embarking on a new career path or business venture,
so keep your chin up, your head high, and approach all of your
work with the burning desire for 100% SUCCESS.
3) The right skills... learn as much about Internet development
as possible. Learn how to make your website automated and
interactive. Get your computer to do as much work as possible,
giving you more time to concentrate on the fun aspects such as
marketing and promotion.
All too often I see people put up a basic website with no
obvious sales strategy, yet they hope to achieve the same
success of a full functional automated site with a definite
marketing strategy. Wake up and realize!
The smart entrepreneurs don't just join affiliate programs and
hope to become rich. They have their own products and services,
and include other affiliated products as apart of their sales
strategy. It makes sense to play it smart.
Remember, you needn't spend thousands of dollars in development
costs to produce a website that sells. With the right basic
skills and a little effort, you can produce an income that
rivals that of a top corporate boss with only a 1/10th of the
working pressure required.
Play it smart and prosper