Internet
Business Startup Kit
By TWINSTWO
How To Build
Your Brand With Instagram
Introduction
Many people
hear about the benefits of having their own Internet business. They hear about
the ability to work from anywhere, not be tied to a cubicle in an office
building, not make money for someone else, and be one’s own boss. This greatly
appeals to many of them, leading them to starting their own Internet business.
Unfortunately,
95% of Internet businesses fail, many of those not making it past the first
year, as many eager business owners fail to recognize that there are critical
elements that must be done in order to have a successful business, something
many Internet marketers leave out when they are emailing their subscribers with
offers.
Fortunately,
this ebook will give you the information you need to set a solid foundation for
your Internet business so that you can be among the 5% that is a successful,
long-lasting Internet business.
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Register
Your Business With a Legal Business Name
One common
mistake many eager Internet business owners make is that they just grab a
domain name, put up a basic website, and expect the profits to flow in. That’s
not how a legitimate Internet business works.
- It’s the
law in most locations (including the United States)- people need to know who is
running the business.
-
Registering your business name prevents other people from using it. After
spending months or even years building your brand and business, you don’t want
someone else using your hard work and/or ruining your brand’s reputation by
taking the same or similar name because you didn’t register your business name.
- You can
get tax benefits, especially if you file as a limited liability corporation
(LLC) or incorporate your business (INC).
- Most
people feel more confident and are more willing to do business with companies
that are either incorporated or an LLC than if the business is not.
There is one
important exception to having to register your business name. If you plan to
use your name as your business, you do not have to register that.
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It is
recommended that you talk to one or more qualified professionals (including
lawyers and/or accountants) about your own specific situation and whether
incorporating your business, filing it as an LLC, entering into a partnership,
or being a sole proprietorship is best for your particular situation.
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Get A Second
Address For Your Business
Getting a
second address for your business indicates that you are keeping your home and
business mail separate, which is smart to ensure you don’t miss any mail
associated with your business and get it mixed up with your personal mail. In
addition, you won’t be posting your personal address on business cards or on
your website, which can help to protect your privacy.
The best way
to get a second address for your business is via getting a PO Box from your
local post office. You can apply to rent this private box for a monthly fee
(usually billed in 3-, 6-, or 12-month incremental payments), which will allow
you to receive mail at your local post office. You have to fill out some
paperwork and usually have to show two forms of identification before you can
be approved to rent a box.
The boxes
range in sizes and prices, so you can choose the one that best fits your needs
and budget. Of course, the smaller the box, the more often you will have to
visit your post office to pick up your mail or risk it getting too full and the
post office suspending your lease, so choose wisely.
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Open a
Separate Business Bank Account
Just as with
getting a second address for your business, opening a separate business bank
account will enable you to keep your business and personal expenses separate so
that there are no mistakes or oversights involving business expenses and
properly recording them. Proper accounting and records are key to staying legal
with your business and helping to ensure you don’t get into any financial or
legal ramifications with your country’s tax division at any point in the
future.
To open a
business bank account at almost any bank, you need to show that you actually
have a business. This usually means that you have to provide the name of the
business and the nature of the business (i.e. what is the reason for its
existence).
In some
countries, you may have to provide an identification number known as an
Employer Identification Number (EIN) or may even have to provide a copy of your
business plan that includes your company’s target market, profit margins, and
forecasted future earnings. All of these requirements are to show the bank that
you are legitimately in business and that the bank should feel comfortable in
providing you with a business bank account.
Note that
you can apply for a business bank account either in person at a local branch or
online. Applying for it online is often easier, and this also allows you to
apply at virtually any bank anywhere, even if it’s not near your business’ or
home’s location. However, it is often advantageous to have a branch of the bank
that hosts your business account near your home and/or business so that if some
issue or problem arises, you can easily go to the branch to discuss and resolve
it. While some issues can be resolved online, others can be dealt with more
efficiently if you are present in-person, which will be much harder, more
expensive, and more time-consuming if the bank you choose to do business with
is located far from your home and/or business.
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Open A
Merchant Account
A merchant
account is an account that allows you to accept credit and debit card payments.
In the past, you could only get a merchant account via opening such an account
at a bank. However, you now have other options besides the traditional banks,
including PayPal and Stripe.
No matter
which option(s) you choose to have a merchant account, all merchant accounts
provide you with the ability to process credit and debit card transactions. For
each transaction that is processed, a percentage of the amount will be taken as
compensation, known as a transaction fee. This is often in the 2-3% range,
depending on the company providing you with the merchant account and sometimes
even the amount of the transaction itself.
PayPal and
Stripe are two companies that are really merchant account “aggregators.” Unlike
merchant accounts with a bank, PayPal and Stripe allow virtually anyone to have
the ability to process credit and debit card transactions, even if their
business is brand new and has no history or track record of success.
Conversely,
banks need to verify your business plan and know you are a legitimate business
before they will consider giving you a merchant account and the ability to
process credit and debit card payments. (In fact, you need a business bank
account to get a merchant account with a bank).
In addition,
PayPal and Stripe don’t require a monthly fee or a contract, whereas
traditional merchant accounts do. Thus, if you are just starting out in
business, PayPal and/or Stripe are a good way to get a merchant account quickly
and begin to take order payments quickly.
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To open a
merchant account with PayPal, you need to visit the PayPal home page, click
“Business” at the top of the page, and click “Get Started” on the resulting
page. You then choose between “Payments Pro,” “Payments Standard,” and “Express
Checkout,” depending on the features you want to have with your checkout
process. The Pro version has a $30 monthly fee, but has all options available,
including customizing the checkout experience and customers paying directly on
your website, whereas the other two options don’t have monthly fees but fewer
features. Choose the option that best fits your vision of the checkout process
at this point in time for your business. Each transaction processed by PayPal
will cost 2.9% + $0.30.
To open a
merchant account with Stripe, go to the Stripe home page, click “Create
Account.” You will then need to register an account with an email address and
password. You then can choose between whether you want to “pay as you go” or
contact Stripe’s sales team and go with the “Enterprise” option. The “pay as
you go” option involves charging 2.9% of the transaction plus an additional
$0.30 cents of every transaction processed through Stripe, the same exact amount
that PayPal takes with each transaction. ACH and Bitcoin payments are charged
0.8% plus an additional amount up to $5 (for payments of $625+). The
“Enterprise” option gives you volume discounts (i.e. lower transaction fees for
a higher volume of transactions), dedicated support, migration assistance from
a previous payment processor to Stripe’s system, and account management tools.
Again, you’ll need to assess the options to determine the best choice for your
business.
As mentioned
previously, you can also choose to open up a merchant account with a bank, but
you will need to provide the bank with details on your business, including its
name, purpose, and plan. If they are convinced of your business’ longevity and
stability (including a good history of your own credit standing), they will
likely grant you a merchant account. Be sure to know about any monthly fees,
promotional pricing where the rate is lower for the first few months and then
increases, equipment leasing fees, etc. before you decide to open a merchant
account with a bank to ensure you know the cost involved ahead of time.
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Set Up A New
Google Account
Google has
many valuable free resources for you as an online business owner that you need
to take advantage of. This includes Gmail, Google Analytics, Google+, YouTube,
Google Drive, and more.
If you don’t
have a Google account already, go to https://accounts.google.com/signup and
enter in the requested information. This will allow you to sign up for and use
services such as Gmail, Google Analytics, and more.
Once you
have a Google Account, head over to http://www.google.com/analytics/, click on
“Sign In” in the upper-right corner, click “Analytics,” then click the “Sign
Up” button on the right side. You’ll then be taken to a page where you can
choose to track a website or a mobile app. You input the account name and the
name and the URL of the website or the name of the app you wish to track, along
with the industry category and reporting time zone.
You then
choose the “Data Sharing Settings” options you wish to use at the bottom of the
page, including “Google products & services,” “Benchmarking,” “Technical
support,” and “Account specialists.” By using these options, you will have more
control over sharing your Google Analytics data. When you are finished, click
the “Get Tracking ID” button at the bottom of the page.
This
Tracking ID code will be placed onto your website or into your app’s source
code so that Google can track how many people visit your Web pages or install
and use your business’ app. Over a period of time, you will get useful data on
the visitors that come to your site or install and use your app, information
that can help you to tweak your marketing campaigns and messages in order to
gain better engagement from your visitors, gain more subscribers to your list,
and get more people to purchase your offers.
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Note that
you can use up to 100 Google Analytics accounts, and each account can contain
up to 50 properties. “Properties” refer to the site or app you are tracking,
meaning you can track up to a total of 50 sites or apps per Google Analytics
account. Thus, you can track up to a grand total of 5,000 sites or apps via all
of your allotted Google Analytics accounts.
Therefore,
if you plan to utilize many accounts and/or properties in Google Analytics, be
sure to use descriptive names for those accounts and properties to easily
differentiate between them at a glance. By using descriptive names, you don’t
have to click in and out of accounts and properties to determine which accounts
hold which properties and which properties have the specific site or app data
you are looking for. Organization is key to getting the most useful information
from Google Analytics.
Note that as
the main account holder, you also have the capability of adding other
authorized users to your Google Analytics accounts and to any property in any
of your accounts. This feature can be quite useful later on if you utilize
virtual assistants or hire employees or partners in your company and want them
to have access to your site or app data.
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Create A
Free JVZoo Account
Many
successful Internet marketers utilize the JVZoo platform, both to sell their
own products and to promote other marketers’ products as affiliates. It is free
to register an account that will allow to sell and/or promote others’ products
as an affiliate. If you purchase other Internet marketers’ offers that are
using JVZoo as their platform, you can also access your purchase history and
the products you purchased via this account.
To register
for a JVZoo Account, go to https://www.jvzoo.com/auth/register and fill out the
requested information. You will need to provide the name you wish to be known
as (your “Display Name”), your email address, your password, confirmation of
your password, and your country. The email address you choose to use should be
one that you check regularly, as this is where your confirmation will be sent,
plus will also be where notable affiliate offers for you to promote and other
information will be sent.
For sellers,
JVZoo gives you the ability to create unlimited buy buttons and add as many
products or webinars as you wish to JVZoo’s Product Library. You will never be
charged a fee for adding more products or webinars- you can a virtually
unlimited amount as your business grows.
For
affiliates, JVZoo provides tools and training to help you earn more commissions
from your affiliate marketing efforts. Promoting other marketers’ offers can
help you to bring in revenue more quickly while you work to create your own
offers, which can often lead to even greater profits.
JVZoo has
become one of the more prominent online marketing platforms over the last
several years. With its growing importance in the online community, it has
established connections with many leading payment, Webinar, and autoresponder
services and providers, including PayPal, Stripe, Authorize.net, GoToWebinar,
AWeber, GetResponse, and more. Thus, JVZoo
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integrates
seamlessly with these providers so that their services and products work very
easily with JVZoo, enabling you to focus more on your product or affiliate
promotions rather than worrying about whether different technologies will work
together or not.
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Set Up Your Business
Website
While having
your own website isn’t absolutely essential to making sales online, it’s pretty
close, as you will have a much harder time building your brand without having a
central presence on the World Wide Web. Additionally, most people expect you to
have a presence on the World Wide Web or will not take you seriously as a
business. Thus, having your own business website is near the top of priorities
in establishing yourself as a legitimate online business.
The two
things you need to establish your website online are a domain name and Web
hosting. A domain name, also known as a Uniform Resource Locator (URL), is a
specific location on the Internet that identifies where your site is. It’s
similar to your home address- you have a specific number and a specific
location, which identifies the place where you reside. In a similar fashion,
your domain name is the address where your site resides on the Internet- people
must enter that domain name to reach your website.
It is
strongly recommended that you choose a domain name that tells what your
business is about. For example, if you are planning on selling ebooks, you
probably would want to have “ebook” somewhere in the domain name. Not only will
this alert Internet users and website visitors to what your website is about,
but it can also give your site a boost in the search engine rankings, which can
make it easier for people to find your website when using their favorite search
engine(s).
To register
a domain name, you need to go to a domain name registrar, select it, ensure
that it is available for purchase, then purchase it. Two well-known domain name
registrars are GoDaddy.com and Namecheap.com Both of them have a search utility
on their sites that will allow you to input your desired domain name to see if
it is available. If it is, you can purchase it; if it is not, the utility will
provide some other domain names that are similar to
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the one you
entered in an effort to help you pick a comparable domain name to the one you
wanted that is available.
Note that
there are many URL extensions, the part of the domain name that comes after the
dot that appears after the name of your site. For instance, in
www.mybusinesswebsite.com, the extension is the .com after mybusinesswebsite.
Some of the most well-known domain name extensions are the following:
- .com
- .net
- .org
- .biz
- .us
- .co
The first
three, .com/.net/.org, are the most well-known and well-respected by Internet
users across the world. These are really the three domain extensions you should
go after, particularly .com. However, they are also the three hardest to
obtain, particularly in a specific domain name you want. Thus, you may have to
turn to one of the other extensions, something the domain name registrar search
utility will point out to you when you put in a prospective domain name.
When you
finally have chosen a domain name that is available, you can select it and go
through the checkout process to obtain it. You will usually be given a
selection of years to choose from that you wish to own this domain name. It
costs more upfront to buy several years in advance, but if you plan on keeping
this domain name long-term and building a brand and company around it, it may
be worthwhile to pay the higher cost upfront, as it will cost more over the
long run to renew ownership of the domain name
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year after
year, since the 1-year buying price is higher than the per-year price of the
multiple year buying options.
The other
key to having your own business website online is to have Web hosting. Web
hosting is the capability and capacity to store your website on a Web hosting
company’s server so that anyone who enters your domain name into their Web
browser will actually see your site and not a blank error page.
There are
many Web hosting providers- some of the more well-known ones include
HostGator.com and BlueHost.com. It is strongly advised that you carefully
research all of the ones you are considering based on reputation (i.e. customer
reviews), the features of the plans you are considering by each host, and
pricing. Note that the lowest-cost plan isn’t always the best one to go with,
though you don’t necessarily have to go with the highest-cost plan either.
Most Web
hosting providers have a 7-day trial period for either free or at a lower
introductory rate. It often is beneficial to take advantage of this trial
period and put the Web hosting provider through its paces to see if it is a
good fit for you or not.
Specifically,
when you are trying out a Web hosting provider, you should make note of the
following:
- Does the
host provide a good website building interface? (Can you easily build your own
website using their interface?)
- Does the
host provide good customer support? (Can you reach them by email, phone, online
chat? Do they respond promptly to your questions, and can they resolve them
effectively?)
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- Does the
website seem stable when it is online via this host? (Can you see it and
navigate through it if you enter your domain name in your browser? Can other
people?)
- Does the
Web host provide any backup capabilities in case your site goes down or is
lost? (Note what types of backups they make and how often if they do, then be
sure to make backups regularly via their interface and even through another
method to ensure you can restore your site quickly if something goes wrong).
Also take
the time to look for coupon codes that can cut the cost of your Web hosting
expenses further- some Web hosting providers will post coupon codes either to
their email lists or on various websites (Slickdeals.com, FatWallet.com, etc.)
Thus, it can pay to sign up to the email list of the Web hosting provider you
are thinking of using, as you can save yourself additional money when starting
your new website.
Once you
have decided upon the Web hosting provider you are going to use for your site,
spend some time working with the website creator provided by your Web host or
via a software program you are comfortable with to create your Web pages.
WordPress, Drupal, Joomla, and other software programs can help you to create
professional-looking Web pages that can present your brand in a positive light
to convince website visitors to consider and purchase your offers.
While you
can hire someone to create and manage your Web pages for you, it is preferable
if you learn how to work with the software yourself- this way, if you need to
make a change to your Web pages, especially a time-sensitive change, you don’t
have to rely on someone else to make the change for you because you don’t know
how to work with the Web page creation software.
Thus, take
some time to work with whatever program you are going to use to create your Web
pages and become comfortable enough with it so that
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you know how
to create and edit Web pages yourself- it will pay off for you and your
business in the long run.
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Start Adding
Products To Your Website
Once you
have your domain name and Web hosting provider ready to go and you are
comfortable enough with the program you will use to create your Web pages, you
can begin to add products to your website. There are two main ways to do this,
as was referenced in the JVZoo chapter- creating your own products and
promoting other marketers’ products as an affiliate.
If you are
creating your own products, then you need to not only create the product
itself, but also relevant marketing materials to promote the products. This
includes sales copy to convince people to purchase the product, blog posts to
help promote the product on blogs (including your own) and other websites, and
graphics to help illustrate the product.
Graphics are
especially important because, even though you may be selling a digital ebook or
software program, most people like to see a representation of the product they
are going to purchase, much like they like to see a book or other item they
purchase in a store or even online at Amazon, Barnes and Noble, Walmart,
Target, Best Buy, etc. Even though people will never physically touch the
digital product you are offering them, they still want to see a representation
of that product as if it is a physical item- this will also help to encourage
them to purchase the product.
Fortunately,
there are many graphic templates you can use to help represent your products,
including 2D and 3D ebook covers of various shapes and sizes that you can use
on your site to represent your product, both as a link to take the visitor to
the sales page and as a graphic to represent the product on the sales page
itself. If you are selling a software program, there are 2D and 3D CD/DVD box
graphics and software box graphics you can use to better illustrate the
software program you are offering for sale.
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You may
already have graphics you can use if you have purchased any Private Label
Rights (PLR) ebook and/or software packages. You just download one or more of
the graphics that you have from that package, resize the graphics if needed to
fit your Web page based on where you plan to place it on the page using a
graphic-editing program (even a simple program like “Paint” will do, or you can
use a more complex program like PhotoShop if you wish), then paste the resized
graphic in the appropriate location using the skills you learned using your Web
page creation program from the last chapter.
If you don’t
have graphics from a PLR package, there are cheap PLR packages available from
sites such as Fiverr.com, Master-Resale-Rights.com, and others. Use your
favorite search engine and input “PLR packages” and similar to find cheap PLR
packages with graphics you can use for as little as $5. HubSpot even provides
free ebook templates in return for some personal information here: https://offers.hubspot.com/ebook-templates.
Alternatively,
if you are artistically-inclined and have some knowledge of a graphics software
program, you could even create your own ebook graphics from scratch or via
built-in templates within a program. There are several ebook cover making
software programs available- use your favorite search engine and look up “ebook
cover making software” or similar to find them.
Where you
place the ebook or software box graphics is totally up to you, but you should
probably place a smaller image of the ebook or software box graphic embedded
with a link to the sales page on your home page, along with some text
describing the offer- this way, visitors to your home page can see your offer
and click on the image to be taken to the sales page. Then, when the visitors
click on the image and head to your sales page, you can use a larger version of
the same ebook or software box graphic image on the sales page to show what the
visitor will be getting when he/she purchases your offer.
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If you are
promoting offers of other marketers as an affiliate, it’s likely they have
already provided graphics of their ebook or software program for you to use to
make it easier for you to promote their offer. (After all, if they didn’t make
it easy for their affiliate to promote their offers, would many bother to do
so? Not likely- why every successful marketer with an affiliate program
provides graphics to use in marketing campaigns). Thus, you just need to
download the graphics, resize them as needed in your favorite graphics-editing
program, then place them where needed as described above.
Many
marketers use both methods of creating their own offers and promoting others’
offers as an affiliate for multiple income streams without doing all of the
hard work. Many who are starting out in the Internet marketing world will
promote other marketers’ offers as an affiliate to provide immediate revenue
while creating their own offers to provide even more revenue. Creating your own
offers takes more work and time, but unlike many affiliate offers, you get to
keep 100% of the profits you sell. Plus, you can create your own affiliate
program and allow other marketers to promote your offers for a share of the
profits. This, of course, will come later on after you have become more
established in the industry for providing quality and having a good reputation,
keys to success in virtually any business.
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Start
Sending Traffic To Your Site
Once you
have built your site, posted the offer and all relevant graphics, sales copy,
and links on the respective pages, it’s time to get traffic to your site. After
all, not much good will come of your work to post the offer and all relevant
elements of it on your website if no one sees it- you need traffic, something
that many new Internet marketers (and even some more seasoned ones) overlook
when building their online businesses. An important credo to remember – you
don’t have a business if you don’t have traffic- traffic is the lifeblood of
your business.
It’s also
important to note that you need quality traffic, ones that will be interested
in your offer. Many new Internet marketers fall under the impression that all
traffic is equal, but that’s not the case. Traffic won’t mean much to your site
and your business if they have no interest in what you offer because it won’t
lead to any subscribers to your list(s) and any customers to your offer(s).
Fortunately,
there are many ways to get quality traffic to your offers- below are just some
of the ways to do it:
- Blogging
- Viral
Marketing (i.e. Word-of-Mouth online)
- SEO
(Search Engine Optimization- ranking highly in the search engines)
- Social
Media (Facebook, Twitter, LinkedIn, Pinterest, Snapchat, Google+, etc.)
- PPC
(Pay-Per-Click- paying for traffic to come to your site when they click your
link listed in the sponsored posts sections of Google, Bing, Yahoo, Facebook,
etc.)
- Forum Marketing
- Email
Marketing
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The above
methods are just a few of the ways in which you can get quality traffic to your
site. The overall key is to get the word out about your offer and have it
spread around the Internet so that others learn about it. This will especially
be effective if people buy your offer, like it, then recommend it to others, as
most of today’s consumers tend to buy things that their friends and family
recommend.
Thus, it is
critical that you start promoting your brand, site, and offer(s) as soon as
possible. Every conceivable and legal way you can think of, you should utilize,
at least at the beginning. Once you have an idea of what traffic methods are
working for you and what ones aren’t, you can concentrate more of your time and
efforts on those traffic methods that are bringing subscribers to your list,
visitors to your site, and customers to your offer(s).
Note that
not all traffic methods work for all offers; some traffic methods will work
better for some sites and offers than others- this is normal. The key is
finding out which methods will work best to bring quality traffic to your
offers, then ramping up your efforts using those methods. This is how you will
gain subscribers, customers, and a better reputation.
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Money
Management
As with any
successful business, the key to enduring success is proper money management.
Once you start making profits, don’t start blowing that money on frivolous
purchases, such as a new television or computer, a new car or home, etc. You
may make some early profits, but you need to continue to ramp up your efforts
to build a sustainable income online so that you can quit your day job and live
off of your earnings. This will take time, no matter what industry or niche you
are serving.
There are
two things you should do with your early profits:
1. Save
enough to pay your taxes.
2. Invest
some into your future education.
Regarding
#1, just as with an offline business, your government takes a percentage of the
profits you make. Depending on whether you are a sole proprietor or a separate
business entity (LLC, INC, etc.), you will owe a percentage of your profits and
have to pay that to your government. In a typical job, your employer takes a
percentage of your paycheck for tax purposes. Being that you are also the
employer as well as the employee, it is YOUR job to hold onto some of those
profits to pay back to your government. Thus, never spend all of your profits,
or you could find yourself in a financial bind when it comes tax time.
Regarding
#2, just as with any industry, things change over time. No industry remains the
same for long- we’ve seen this with the retail industry, the technology
industry, the stock markets, and, yes, even with the Internet marketing
industry. Some methods that worked years ago or even six months ago either
don’t work or don’t work as effectively now as they did
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then. Yet,
new methods are developed and new technologies are created to make the
essential processes easier to manage.
Investing in
such new methods and new technologies cost money, which is another reason you
should not spend much to any of your hard-earned profits. You need to stay on
top of the latest trends, strategies, and technology in order to keep your
business moving forward and to keep it profitable. If you’re using outdated
methods, your profits will quickly dry up, and your business will be teetering
on the brink of collapse. If you’re not using the latest technology that is
suitable for your business, you will spend more time doing tasks than is
needed, which will take away time from tasks that can’t be as easily automated
and where you should be spending more of your time in order to produce more profits
for your business and for producing more credibility for your brand.
Thus, don’t
fall into the trap of spending that hard-earned money on frivolous purchases-
doing so will only cause problems for you later. Sure, it’s okay to feel good
about yourself and maybe purchasing a little gift or celebrating with a special
dinner out for making a decent amount of profits after putting in some hard
work, but don’t go overboard with it and think you can just spend frivolously.
You still need to think about the taxes you owe and the future education you
need to invest in in order for your business to survive and thrive for the long
term.
How To Build
Your Brand With Instagram
Conclusion
Hopefully,
this ebook has given you an overview of how to get your online business
started. By no means is this ebook supposed to cover everything you will
encounter; there are other materials and resources that can help you expand
your education further. Instead, this ebook is to give you a good first step
into entering the online marketing world, knowing what is required of you, and
how to make your business and brand grow to where your online business is a
sustainable business for the long term. While only 5% of such businesses make
it past their first year, the information within this ebook should help you to
become a part of that 5% that endure beyond one year and become successful for
the long term.
Be sure to
use the accompanying checklist and resource list to help you review the
information in this ebook so that you can continue to make good progress on
your Internet marketing journey.
Good luck!
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