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If you’ve gotten this far, you’ve already done the hard part. Just by getting started, you’ve planted yourself ahead of the other 99% of people who will never go beyond dreaming. We have higher hopes for our students, though. We want to see you push through those initial barriers and become successful Internet entrepreneurs.

The problem with an online course is that no course can be tailored to every business. We can tell you how to set up PPC ads, but we can’t very well anticipate changes in your market that decrease overall search volume. We can tell you to participate in relevant social media efforts, but we can’t look at your specific efforts and help you adjust them for maximum success over time. Every business is different.

That’s why we want to stress the importance of forming a solid bond with one or more professional mentors. Once you’ve built a relationship with a mentor, you can call or e-mail that person with specific problems you’re having or questions about your business. Maybe the economy’s down and you need tips for weathering a year or two of low consumer spending. Perhaps the economy’s doing well and you need advice on scaling up your business while things are especially profitable. A mentor can look at your operation and apply his or her professional expertise to give you a variety of educated suggestions. 

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One of the major theories behind viral marketing suggests that a happy customer will tell as many as three other people about his or her experience, while an unhappy person will tell eleven.  With blogs and message boards now, a happy customer may tell 3 people an unhappy customer will post it on line and tell 3 million.  The natural tendency of passing on information about our experiences is at the core of viral marketing.

There are two basic types of viral marketing, and in most cases, one is greatly preferable to the other. The first is passive viral marketing, which refers to efforts that encourage your visitors to take certain actions without actively empowering them to do so. Although passive viral marketing can be effective, many of your customers will need a little more encouragement to spread the word about your products or services. Examples of passive viral marketing would include simple written suggestions encouraging users to bookmark your site or refer it to a friend. Consider your own habits when you see marketing messages like these. How often do you tell a friend, based on these calls to action?

Active viral marketing is more direct and typically, more successful. With active viral marketing, you not only suggest that users perform a certain action, but you empower them to do it. If you want them to tell a friend, you give them a simple “tell a friend” button on your site. If you want them to bookmark a particular product or page on your site, you add easy social bookmarking buttons to make the process more convenient.

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Your domain name will be one of the most important things you choose when setting up your internet business.  Not only will your domain name impact your search engine ranking for keywords relevant to your business, but it will directly impact your corporate branding and identity as well as facilitate repeat customers and word of mouth advertising. People trust and find websites with their own domain name much more trustworthy and credible, than a website piggy backing on the domain name of someone else.  If you have a blog or business on the web, always use your own domain name. 

 Keyword Generated vs. Creative Genius.

There is great debate as to whether or not your domain name should be chosen based on the keywords you wish to rank in the search engines for, or should be something creative that will stick in the heads of users. The best way to decide which method you will adopt when selecting your domain name is to first identify how you will primarily be driving traffic to your website. 

If your website is primarily going to be relying on search engine traffic for customers you should give serious thought to using a Keyword Generated name and use keywords you are targeting for good placement and use those in your domain name.  Some examples of these domain names are marketingtips.com, hosting.com, and Business.com.  The keywords used in your domain name will factor in on your search engine ranking.  

The other option is to go with a user selected domain name.  If you are going to be relying on social networking, viral marketing, and word of mouth advertising for your primary source of traffic, you will want to think of a domain name that is creative, unique, fun and easy to remember.  Google, eBay, YouTube, Yahoo, and Flickr are all very popular and successful websites who clearly don’t have domain names that were keyword selected.  These sites focus on viral, or word of mouth advertising, to drive traffic and exposure, and so their domain names reflect that.   

If your website is going to be relying on a combination of both types of marketing and is not favorable to one traffic source or the other, you can certainly use a combination of the two methods above.  It is possible to create a domain name that is both unique and creative, but also relates to what your website does.  Myspace.com, HotorNot.com, and PlentyofFish.com are websites that don’t necessarily contain keywords that people are using to search for what they do on the internet, but they convey exactly what they do in their domain name.

If you’re an existing business, your domain name should reflect your business name.  If your business name was Boy Oh Boy, most people would search for those words on Google or would go to boyohboy.com.  If your business name is Boy Oh Boy try and use the same domain name.  It seems intuitive, but you would be surprised how many companies use a different URL and company name.

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Low Cost to Setup and Maintain. If you know what you’re doing you can actually setup and launch an ecommerce website for less than $50.00 a month. With many of the intuitive software platforms available now, many individuals are able to design and build their own website. I wouldn’t encourage anyone to borrow significant amounts of money in today’s economy to start or expand a business, but a modest investment can go a long way when your store is online. Because start-up and operating expenses are much lower online, the value of your lower overhead can be passed on to your customers. More and more people are going to become price conscious, and will be turning to the internet to find lower prices on the goods that they need. Now is the time for people who have been thinking about starting a business online to do so. As more and more people start turning to the internet to supplement or replace their incomes, only those who know how to market and promote online will succeed.

Lower costs of advertising - If you are an existing business owner and you’re feeling the crunch of the current economy, you should be exploring the internet as away to help you increase your revenues and decrease your costs. As more and more people are staying home rather than going out, and business owners are drowning with overhead outpacing revenue, now is the time to consider transferring your inventory online. You could sell the same inventory and reach millions of potential buyers. You could eliminate employees, local advertising, and utility costs, while exposing your business to people outside your local geographical area. If you can learn how to successfully launch, promote, and maintain a successful internet business you can create the additional income needed to help you through these tough times. The most important aspect of business online is promotion. Learn how to successfully market and advertise online, and quite possibly you can create the income needed to survive these tough times.

Most people think of Direct Wholesale Purchasing when they think of owning their own web or mail-order business. To make wholesale purchases, you’ll need a resale license and establish a relationship with wholesalers or manufacturers. Orders can be as low as $100 with wholesale distributors, but most are closer to $500 or $1000. If you’re purchasing items directly from the manufacturer, their minimum orders are often as high as 1000-5000 pieces of the item you are interested in.

It is important to have a good understanding of the supply chain before you attempt to purchase products. At the top, you’ll find manufacturers, the factories that produce products in extremely large quantities. Some sell directly to retailers, many prefer to deal only with large wholesale distributors.

Manufacturers / Factories > Wholesale Distributors > Retailers > Consumers

If you decide to purchase items from a wholesale distributor, you can expect discounts around 50% off the retail price.   Discounts from a manufacturer can be as much as 75-80%. Some industries, such as electronics, will be subject to smaller profit margins.

Don’t forget to factor in the cost of shipping when you’re making projections about the profitability of your chosen products. You may want to purchase sofas from China at 50% off the U.S. retail price, but with the costs of shipping on such a heavy item, your profit margins would be significantly reduced. On the other hand, something small or light weight, such as a DVD or book would be extremely affordable to ship.

If you’re interested in purchasing wholesale, or directly from the manufacturer, sites like Alibaba, Tradekey, and ThomasNet can help you locate representatives and product listings for a variety of manufacturers. You should always do extensive research on a company to validate them, before arranging to make a major purchase.  When selecting a supplier, ask for a free product sample, or a significant price reduction on a sample, to check the quality of the goods you will be purchasing.  Always ask for references and follow up on the references before negotiating an agreement with the supplier. Click on the links above to visit these websites.  Our video tutorial covers the details for navigating these resources.

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 You could also bid on less specific phrases like “wedding bands” or “tungsten jewelry”, but you’d probably find that those phrases converted significantly less often than something as specific as “tungsten wedding band”. If the price per click worked out financially, though, it would still be a good investment.

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Search Engine Optimization (SEO) is probably the most powerful strategy for driving free qualified traffic to your website.  Unfortunately, SEO is also the most difficult and most misunderstood among internet beginners and professionals alike.  SEO is a process more than it is an event.  Website owners have two options when it comes to SEO, do it themselves or pay a professional to do it for them. One thing to remember when considering what option to choose, is that the Search Engines are the only companies that can guarantee a ranking.  Many companies will guarantee first page rankings in exchange for thousands of dollars a month.  When you get the proper knowledge and understand SEO as well as the professionals, you can achieve the same ranking or better on your own.  This knowledge is what allows a small internet business with smaller budgets to compete against big companies with big budgets.  Knowledge is key to success.  We will teach you in this tutorial the fundamental basics to SEO and discuss how page rank and location on search engines is determined. Please keep in mind that with SEO, its still a best guess, because only the Search Engines know the exact formula for the number one spot.  To succeed with SEO it is important understand the key terms used in Search Engine Optimization, and the critical factors that must be addressed to achieve success at any level.

While it shouldn’t be your site’s only goal, it’s an important process that you should take on early and revisit from time to time. The basic steps in a solid optimization plan are listed below:

• Keyword Research: You’ll figure out which keywords represent the best combination of relevancy and popularity.
• Competitive Analysis: By examining the efforts of your competitors, you can save yourself hundreds of hours of time and effort.
• Keyword Selection: Choosing the keywords that are most likely to work for your site.
• Visible On-Page Optimization: By changing title tags, text, and descriptions, you will alter your content to optimize for your chosen keywords.
• On-Page Source Optimization: Further optimization will deal with “invisible” parts of your page.
• Search Engine Inclusion: Either manually or through link acquisition, you’ll need to make sure the search engines know that your site exists.
• Link Acquisition: By trading and asking for links, you’ll build your site’s backlinks to improve your search engine positioning.
• Moving On: Although it can be tempting to remain focused on your optimization efforts, nearly every site reaches a point of diminishing returns where it’s best to move on to other efforts. 
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With a brick and mortar business, creating a new business is both expensive and time-consuming. You need appropriate physical headquarters, extensive local advertising, and a favorable location to ensure that your business will thrive. Some web-based entrepreneurs can get started with little more than a $10 domain name and around $5 monthly in hosting fees. For that relative pittance, you gain access to the entire internet-connected world. Not too shabby. Many traditional brick and mortar businesses are expanding to the web in an effort to lower their overhead and reduce their costs. The internet levels the playing field for everyone. Now virtually anyone with a good idea has the opportunity to make it big online.

More Lenient Inventory

With a brick and mortar sales business, you typically need a showroom full of products for customers to browse, purchase, and take home with them. Online, all you need are photographs and good descriptive text. Thanks to drop shipping arrangements, some e-commerce store owners have never even seen the items they sell.  When it comes to information products, it’s just as easy. An online preview or sales page can give customers an accurate idea of what they’ll be getting, and they can use their own computer to bookmark the page and consider the offer at their convenience. When they’re ready to buy, delivery of the file or login is nothing more than a simple e-mail. The ability for someone to offer thousands of products on a website and run the whole operation out of 10×10 bedroom, is one of the key elements to driving prices lower online. Imagine being able to offer an entire retail store showroom and never once see or ship an item. The next website you make a purchase from could be owned by a 13 year old working out of their garage.

Increased Automation

That brings us to another benefit – automation. Think about transactions completed off-line. Even the most impersonal transactions typically require several minutes of time and polite small talk with the store owner or another paid employee. It may be pleasant to some, but it’s not efficient.  With the web, you can test and create your website to address the issues that most of your customers will face. By doing so, you can make it easy for the average user to become a customer with little or no need for interaction on your part. Those who need additional help can contact you by e-mail or phone, allowing you to deal with inquiries more efficiently. Imaging having an employee who never asked for time off, never asked for a paycheck, and worked 24/7 days a week while you slept or while you were on vacation? More and more business owners like the idea of running their business from anywhere in the world

Lower Costs i.e Labor

With a traditional business, you’re forced to hire any needed help from the local business area. Depending on your location, you could spend $7-15 for unskilled labor that may not even care about the fate of your business. With a web business, labor needs are greatly reduced, and you can hire live chat or e-mail customer service agents from any part of the world. Educated labor from countries like India and Romania can be hired for as little as $5/hour, depending on the task. Transitioning a business to the internet can allow you to get rid of labor costs altogether. Your website sells your products, answers questions, and takes orders for you. A website may become your only employee.

Reduce or Eliminate Shrinkage

Traditional businesses with inventory are always vulnerable to theft from both customers and employees. By offering information products or drop shipping products from other companies, you eliminate the risk of theft completely. Even if you decide to carry and ship your own inventory, servicing your customers online means that you’re virtually invulnerable to theft from customers. Although your customers may feel like their stealing, you never have to worry about expenses related to theft.

Successfully Market to Niches

Imagine that you’re trying to sell a training video to help bakeries create effective websites to showcase their services. First, you’d need to find out how many bakers were located in your area. Then, you’d have to eliminate many of the bakers who are employed at corporate grocery stores, since their websites and marketing materials are often created internally. You might get lucky and sell a copy to the corporation, but it’s a long-shot and you shouldn’t count on it when you’re making projections. Unless you’re in a major city, you’ll probably find that you’re left with just a handful of prospects. Once you account for the cost of production, you may realize that even a 100% success rate couldn’t guarantee profitability. Now, let’s consider how things might work out if you could widen your market to include all independent bakers in the English-speaking world. With such a large market, making a sale to just .5% of the market could bring in a healthy income. By using the Internet as your platform, you can do exactly that. Niche products can now be created and distributed to far-flung regions at minimal cost. Visit Learn2promote.com for more information about this. It is still possible to make a profit with a website selling only one type of product because of a global market, and this strategy helps you compete against bigger competitors. Imagine a store today selling only plasma televisions. It probably wouldn’t be in business very long. On the internet, a website selling only plasma televisions can succeed because they can pick up customers all over the world

Affordable Advertising

In traditional business, advertising is probably one of the top expenses each month. On the internet, most advertising strategies are free. Previously, businesses were forced to rely on traditional print and radio advertising to drive traffic to their locations. Today, major search engines have made it possible to laser-target your audience and bring them to your website for mere pennies (or dollars, in some niches) per click. We’ll discuss this in greater detail in another lesson. Advertising traditionally is expensive because you have to force your ad down the throats of everyone, and hope that a few interested parties contact you. On the internet, you can focus your advertising to those people who actually want to buy what you have. We will teach you how to focus your advertising and marketing to only those people inclined to buy your product, where most website owners try to get everyone in the world to their site, and then hope some of those want what they offer.

Lower Cost of Failure

“Would you like me to give you a formula for… success? It’s quite simple, really. Double your rate of failure. You’re thinking of failure as the enemy of success. But it isn’t at all… you can be discouraged by failure — or you can learn from it. So go ahead and make mistakes. Make all you can. Because, remember that’s where you’ll find success. On the far side.” –Thomas J. Watson, former head of IBM

Failure and success occur no more or less often on the Internet than in traditional businesses. There’s just no way to pick the perfect business and course of action the first time, every time. What makes the Internet different than traditional businesses is that it costs much less to fail online. Most traditional business owners work harder at their business then they ever would if they had a job. This is because in most cases, if the business fails, the business owner loses everything. His business, and his home. On the internet, if your business fails, you just take your website down, change it around, and your back in business. You may lose a little time and money, but you can typically dust yourself off and try again. If you market your product to the wrong people via search engine ads, you can simply stop the ads and try something else. If you buy a six-month run in the local newspaper, that’s not exactly an option. Even if your entire business turns out to be a bad idea, it’s likely that you haven’t lost as much as with a traditional business that includes a building lease or employees.

Flexible Hours

In the “real world”, you have to do business when your customers are ready to buy. If you’re a bar, you stay open for weekends and evenings. If you’re a retailer, that typically means day and evening hours during both the week and weekend. Dealing in a global economy it is a great feeling to get an order at 3:00 am in the states, while someone in Australia is in the middle of their work day and purchasing from you. More and more business owners like the idea of not working around their customers schedules. With the Internet, you can leave your website up 24/7 and deal with customer issues at regular intervals that you choose. If you want to spend the day playing with your kids or golfing with friends, you can do it. You can’t put a price on benefits like that.

Improved Tracking

When you place a traditional ad in a newspaper, it’s hard to track your response rate. For that reason, thousands of businesses across the country continue their advertising efforts without having any clue about their effectiveness. They might get just 1 visitor for each $1000 ad, but they’ll never know it. Although it’s possible to use coupons to track response, that can get expensive quickly, depending on your margins. With web advertising, you can track each visitor’s activity from initial click right up until they make a purchase, request more information, or abandon the site. That lets you know which channels are driving quality leads and which ones aren’t worth continuing. It also gives you immediate results, saving you costly weeks or months of ads that don’t work.  Given the benefits of doing business online, there’s no good reason not to consider starting or expanding your business in cyberspace. By minimizing your initial investment and risk, you can afford a longer learning period and give your business a greater chance of surviving the crucial first years.

To learn how to succeed on the internet and for more articles like this one, please visit www.learn2promote.com.