How To Work Once and Make Money for Long Term ?

by: Mr. Ven 4

When it comes to online business, most of the beginners don’t think for the long term. As an individual, if you are first time looking into the online opportunities, you will get excited to quickly make money. Such beginners will quickly get into some method say blogging or taking useless paid surveys wasting their time. They don’t know the head and tail of it, but they want to make money that’s the only intention. However, this doesn’t works out for the long term.

Online businesses are same like the real world business and you have to take it serious – that’s my perception. In most cases, such beginners end up running a blog (with Google Adsense) which only makes few cents. Finally, you end up giving way.

Basically, the lack of knowledge, experience and curiosity towards earning are the major tiebacks of online business.

At the same time, when you think online business as a real world business, you won’t get into that mess. As a beginner, spend time to explore, understand what really is an online business, gain the practical knowledge and then get into the work. This way, you could survey and make a lot for the long term.

In my case, i started this blog as a hobby and slowly, i realized the seriousness of online business and now i am completely in a different mode towards building great businesses, products.

In this article, i will help you towards making money for the long term and interestingly, you don;t need to work hard every day.

First, Have an Idea.

Every business starts from a silly idea, you and me are not an exception. You can think something unique or something that no one had tried before.

• Explore your own knowledge and try to address the problems in a particular market.

I mean, your idea should address a problem and that’s the very basic requirement for a business to begin.

On the other hand, you don’t need to be unique, you can also find an existing idea/product in the market and alter the methodology to replicate in your business.

Any way, its the Time which nails down, how your idea works – because until you get into the work, you don’t know whether the idea works or not.

Have a look on this another article on new web site ideas.

Build your own product.

With my own experience, there are 3 types of online based businesses like:

• Type 1: Offering a service and getting paid
• Type 2: Selling others product
• Type 3: Selling your own product

Its up to you on which track you want to go.

• Type 1: If you are talented and highly capable to serve customers then open up a service business. Example: web design, banner design solutions
• Type 2: If you have the capability to appeal audience and push a product then simply, sell others product. However, you have to work every time to find new products and new audience so that you can make continuous sales. Example: affiliate marketing.
• Type 3: The last type, build your own product and sell it. You have to work at the beginning and once established, you can get into maintenance mode – however, money rolls in every day.
• When you compare type 2 and type 3, my choice will be type 3 – because there you have to work once and leave the product in the market (to others). You don’t need to work hard every day like type 2.

So the summary is:

• have an idea (spend time to identify its profitability)
• turn your idea into a product
• leave to others for selling
• take the back seat & count on profits….

Do Initial Marketing.

Product development is a tough process however, when you are clear with what you are going to do and the exact purpose of your product – you can make the process simpler.

A product can be anything a digital downloadable component (i am not speaking about physical products). For example, iPhone App is a downloadable product.

Once your product is ready, the next step: do initial marketing. I call it as, Push Marketing.

Because, when you are releasing the product into the market, no one knows about it. You have to push the product and show it to others.

• SEO, Social media, advertising are few of the ways to push market your product.
• Learn the rules to advertise online business.

Get into maintenance/support mode.

It is true that, the real work starts once product is released. Yes, the product is released and its being used by your customers. This is the mode where you have to support them.

When you are expertise with your product, customer support becomes simpler. You should be able to convince the customers and solve their problems, if any.

However, based on the complexity of your product, you can quickly move into maintaining/support mode.

• You can setup a support forum or wiki specific to your product and this releases you from hard work. And you are almost done with the product – the profit process is frozen here.

Do Periodic Marketing.

It is not like once you are into maintenance mode, you don’t need to work any thing. In order to survey/grow with your business for long term, you have to periodically market the product.

You have to make every one aware that your business is still alive and your product is here to serve new customers.

Do periodic marketing, say once in 2 months and also, you can spend some time to enhance your product in order to make is competing with other products in the market.

Make others to Sell It.

The greatest advantage of building product is that: you can make others to sell it.

Many of the successful Internet marketers are doing this only: even they outsource product creation and make others to sell it by sharing an affiliate commission. Learn what business functions to outsource ?

This is one of the best strategy which makes you money for the long term without doing much work every day.

Final Thoughts…

Don’t get into the beginner’s mess, understand: how to build products and take it to the market.

See, what other successful Internet marketers are doing and follow their strategies – so that you can easily inscribe into the success path. Check this Treps column from entrepreneur magazine for role models.

• On the other hand, you can build a great blog in a particular market – upon building, you can push both your products as well others product easily which makes you even more quick profits – This is the strategy that i am following today !
• Understand these steps to successful online business start up.
• Take this short free beginners course on steps to start online business.

Think smart, have short term as well as long term plans and work smart….

image:wahbain