Finding Your Profitable Market
Published by Marcus Hochstadt | Posted in Business, Marketing, Product Creation, Strategies
When in search for a product or service to sell online (or off, for that matter), you must take some steps to get the perfect market (or some call it niche) that will have a high desirability in today’s marketplace. The public must want it! :-)
Normally, you’d research the supply and demand of a market first, then locate the product that market is demanding specifically. But let’s take a look at starting with the product first.
So how do you find that perfect thing to sell in your Internet business endeavors? There are many workshops that offer advice and recommendations, but it’s really you that has to come up with an answer. It’s crucial to find something that will give you a good chance at success.
First, get a list of products or services that are potential items you would like to market. Each thing on your list should be something you have some knowledge about… Don’t try and sell ski boots when you have never been skiing or have even looked at a ski boot. Of course, if you absolutely LOVE ski boots, you can always learn all about them! :-)
That brings up the other point… and one brought up by almost every seminar ever given on the subject—find something you love! When you are going to be spending hours and hours of your days (and sometimes nights) setting up your Internet business, working on building traffic and getting things moving, and this for the next 3-5 years, you better enjoy what you are doing.
So… the items you put on your list should be products or services that reflect specific skills or aptitude you have, hobbies you are interested in, or things you know a lot about. You can add items that you have a high interest in learning, too. Just don’t make the runway for takeoff too long by needing to devote a lot of study to the subject first.
The idea is to leverage and improve your strengths, not your weaknesses.
Break down your list into three sections. First, list all the things you enjoy doing, such as baking, drawing, traveling, etc. Then list all the things you are good at doing… which could also overlap the first list. Now list your unique skills, perhaps playing the piano, computer programming or the like. And finally, list all the things that you have a lot of knowledge about.
Work out for each thing on your list what could be a product or service entailing the action involved with each one. This will at least give you some ideas—maybe really interesting and unique ideas at that!
Let’s say you came up with a product to sell such as fishing equipment. Some folks feel more comfortable to narrow the product/market down to something less competitive and more specific than “fishing equipment.” Perhaps you could just sell reels, lines or rods. Now you will need to find out if there is a market for this product. You instinctively know that there is, but research it anyway.
Find out how many out there will be your competition (or possible future partners). How much demand is there for the product? And is that demand high enough to sustain a business? Is it just too low, go back up a step or two until the demand number gets exciting. And ask yourself how you could create something unique—something that could be a Unique Selling Proposition that would make you stand out from the competitive crowd?
Turning your product or content rich Web site into a profitable Internet business venture is really doable if you are doing something you love, you are selling a product that is in high demand, and you stand out from the crowd in what you offer. You’ll have fun running your business every day, and will know how to handle customers’ questions effectively.
What an adventure!
—Marcus Hochstadt
15 CommentsPermalink Tags: internet business, market research, Product Creation
The Anatomy Of Hurdles
Published by Marcus Hochstadt | Posted in Business, Strategies
On a daily basis, you may encounter several different hurdles… They distract you from the job at hand and frequently slow you down, but quite often they are an expected part of your working day.
It’s the bigger hurdles that present a challenge; they creep up through neglect, or bad planning, and can be extremely detrimental to your Internet businesses success.
So how do you define an Internet business hurdle? A challenge to one company can be a disaster to another. No wonder they are called a roadblock to success.
Let’s see… An Internet business hurdle may…
Impede Advancement
Unforeseen hurdles can slow down the progress of a project. They increase man hours, and affect its profitability, which has a continued effect throughout your Internet business, and the necessary excuses distill confidence with your customers.
Dictate Choices
A hurdle can force you into changing direction. When you plan and choose the direction your Internet business needs to move in, an unexpected hurdle limits those choices and may force your Internet business in a direction that would not be your ideal or first choice.
Block Avenues
A hurdle can also block avenues or possibilities completely. A roadblock to success is a common description for a business hurdle. For some hurdles, there may not be a way forward.
Cause Discouragement
When projects do not work as planned, or unforeseen hurdles block progress, the effects on morale are harsh. It’s very disheartening for managers and staff to not see a project through to fruition and can cause owners to neglect their Internet business rather than face further disappointment.
Affect Cash Flow
Most hurdles can have an effect on cash flow, when customers are slow to pay bills or sales drop, it’s increasingly difficult to pay your own suppliers and creditors. Bad financial management means that serious hurdles, like unforeseen tax bills, will also drain your resources, plus losing staff to sickness, family problems or other employers is another hurdle which slows down your advance and adds more expense with recruitment and training.
The Solution
To overcome Internet business hurdles, plan for them. When you create your initial Internet business plan, you have to implement plans for contingencies and analyze every potential hurdle. Risk Management needs to continue throughout the life span of your Internet business, and every new project and investment needs planning to control it and predict future outcomes.
The more you plan, the less Internet business hurdles you will face, or the smaller their impact will be. And when they appear, they are expected and you know the appropriate action.
Let’s look at the number one hurdle, lack of sales, and see how planning can prevent this problem:
How Well Do You Know Your Market?
In Internet business, you need to analyze your potential markets, and know how to reach them. If trends suddenly change, you need a plan to move with them. Your old marketing strategy may have worked once, but you need to keep up with the changing market. Never sit on your laurels. Reach out to your customers, reward loyalty, and actively promote and analyze new ventures.
Look At Your Performance.
If you cut corners on your production or service, your customers will soon realize. Plan your pricing strategy, and review and test it continuously. Is your price too expensive to be appealing, or are your prices too low? Most businesses do price themselves too low, which may win a short term popularity vote, but affects the performance of your overall Internet business and its “Net Worth” and can rarely be sustained.
Look at, and evaluate you customer services standards. These standards should be outlined in a plan and upheld regardless of the circumstances. Bad customer service is usually the number one reason your customer does not return.
Has Your Product Reached Its Lifespan?
Trends change continuously. The latest gadget on the market may earn you millions, but it will not be around forever. If you have based your business on one product, you will need to know what to do when this product reaches the end of its life-cycle. Do you have other products to replace it with? Or do you update old products to be “the latest” again?
Bottom Line
There are far too many hurdles to list here, as every Internet business is unique with its own set of risks, but planning and prevention are paramount.
You may not think you have the time, but that’s something else you need to overcome and plan. And when your Internet business stumbles over that last hurdle you failed to overcome, you will have all the time in the world to analyze it then and eventually start over.
Having said all this, I want you to remember a quote I use quite often…
If something doesn’t work, do not adjust your goal, adjust the action steps towards that goal.
—Marcus Hochstadt
Myths And Truths About Internet Business Success
Published by Marcus Hochstadt | Posted in Business
Making millions over the internet in the span of a single day might sound like a clichéd online business opportunity provider’s slogan, but countless people are drawn towards the same—each and every day—in hope of making lots of money in an instant. (Ever heard the term Instant Gratification?)
There are numerous myths surrounding the online business arena, and the most popular one has to be the idea that you can start an online business today, and wake up to be a millionaire the next morning.
It is true that the Internet allows for a quicker profit making than in the traditional offline business world because of its tremendous market potential and ease of use, but these profits are definitely not instant when you’re just getting started. You have to learn and work for your business; delegating enough time to build the basics, only then can you hope for success.
The foundation of any successful Internet business is laid once you have definitive goals for your business and a proper business plan (i.e., “Blueprint”) for achieving the same. For an online business to take off, you need to spend time creating Web sites for your company’s products or services and introduce the same to the Internet market in an effective manner. You should embark on intensive market research, look at similar businesses, gauge your competition, and build your own system of delivering products so as to ensure that you put that part on autopilot.
All this does not happen overnight; it takes time and patience. However, with the right approach and attitude, you are sure to gain initial success in the span of a few months or 1-2 years time.
Don’t let that discourage you though! Most people set short-term goals that are too high and long-term goals that are too low (or some even don’t have any long-term goal anymore because they haven’t accomplished their “too high” short-term goals!)
Have a BIG vision and then cut that down by creating small, VERY small short-term goals, tasks that seem to be too small to actually consider as goals!
Setting up your own business online means that you gain a lot of time for yourself. So the freedom and flexibility of work hours are definitely the most attractive aspects of building an Internet business. Apart from this, you are able to work literally from any part of the world, which means that you never have to look at work from any office again. You can work from the comforts of your own home, or from a holiday resort in the most distant parts of the world for that matter (like I myself currently from beautiful sunny north-east Brazil,) which means that work will not seem like work at all—it’s pure fun!
So the flexibility and convenience that an online business gives you are definitely true and not just myths.
However, when you’re just starting up your own online business, use a discerning intelligence to be able to differentiate between the myths and the truths. Learn from those who walk the talk and you will soon be on your way to owing a successful Internet business, too. :-)
—Marcus Hochstadt
6 CommentsPermalink Tags: internet business, myths, success, truths
24 Hour Special
Published by Marcus Hochstadt | Posted in Specials
Outsourcing, uh! This was something I really had to get used to… It was a tough step. I was under the impression that the only person who can do things as good as I would was I. How insane is that?
Today I use the word “insane” since I’m a little bit wiser. You only have 24 hours available in a day and this likely won’t change. However, what you CAN change is the amount of time you assign to other people, therefore it is the availability of human resources you have available in your growing Internet business.
To catapult from mediocrity to prosperity and from 120 to 4 hours/week you need to assign tasks to other people. It’s a fact.
If you think you can do everything on your own… Sure, there do exist “DIY entrepreneurs” earning $200,000/year doing everything on their own. But how are they managing? What is their quality of life?
There is a strong likelihood that these successful Internet entrepreneurs work 120+ hours a week. In other words, they trade hours for money, just like in a normal 9 to 5 job.
Let’s look at the numbers… 120 hours/week x 4 x 12 = 5760 hours/year : $200,000 = $35/hour.
I don’t know about you, but I won’t ruin my life, especially not for a mere $35/hour.
This is where outsourcing comes into place. Handing tasks over to someone else, a person who is able to do the job as good as yourself, if not better. (Especially the tedious, administrative stuff!) All you need to do is find the right people for a profitable ROI. Not an easy task you say?
Well, then you obviously need a DVD…
High-Profile Outsourcing – Putting An Online Business On Autopilot
Yes, there is indeed a Surprising Formula For Independency Uncovered.
It is another high-profile in-depth conversation I had with James Brausch in Costa Rica last month.
The DVD I am releasing today with a 24 Hour Special includes the following…
- How to find and hire first-class contractors
- Step-by-step plan on separating the wheat from the chaff
- How to ensure contractors do exactly what they are supposed to do (while staying motivated)
- How to get around the hassle of paying employment taxes
- How much work to assign to new contractors
- Step-by-step plan on finding high-profile ghostwriters
- James’ secret #1 resource for finding top contractors and ghostwriters (no, it’s not the one you may think of)
- James’ experiences with the more popular and well-known resources
- How many blog posts are written by James himself (and how to recognize them)
- Pros and cons of hiring individuals vs. a company
- The best price range paid per assignment, procedure or hour
- Marcus’ experiences and tips on outsourcing
- The $100 question: Which project description James uses on which site (this tip alone can save you thousands of dollars!)
Until noon tomorrow (PST which is GMT -7,) you get High-Profile Outsourcing – Putting An Online Business On Autopilot for $35. Again, after these 24 hours the price will go up to $100.
Here is the link to order the DVD…
http://kunaki.com/sales.asp?PID=PX001UUE4Y
The entertaining part in our conversation was when a bird applied for a job at James’ company… ;-)
—Marcus Hochstadt
P.S. This DVD is THE secret on how James manages to work only 3 hours per week!
2 CommentsPermalink Tags: autopilot, internet business, james brausch, outsourcing
24 Hour Special
Published by Marcus Hochstadt | Posted in Specials
Building An Internet Business From Scratch – Making $1,000 After 24 Hours
No Money, No Reputation, No Friends, No List, No Site, Even No Own Computer!
Imagine you would have a coaching session with an Internet business millionaire. Neither would you make a serious amount of money online (yet,) nor would you have any money available to spend on advertising or outsourcing.
You would be like one of many in the online business world and don’t know how to get started. Heck, you even don’t have your own Web site yet, nor do you own a computer!
That’s a challenge, isn’t it?
Not for James Brausch.
James gave me excellent instructions on how he would build an Internet business from scratch without any prior resources. He even gave me a step-by-step plan on how to make $1,000 in 24 hours!
Again, he would not have any money available, nor would he have friends to “ask for help,” nor would he have a list of subscribers to promote something to them, nor would he have a Web site yet… Heck, he even would not own a computer!
What would he do?
The tutorial is on DVD.
Yes, it’s release time. The DVD I’m releasing today shows the second interview I held with James Brausch. This time, I managed to tap his brain and gain insights on what he would do when he would have to start all over again.
Here are the key points being covered in this interview…
- How to start an Internet business from scratch without any prior resources, step-by-step
- With what James would make the first Dollars
- Step-by-step plan on making the first $1,000 after 24 hours
- The following steps to make $10,000
- How to start an Internet business from scratch with a budget of $0, $50, $500, or $10,000
- How to make money with Freebies
- How to come up with best seller product ideas
- How to create raving fans
- The minimums for a profitable e-book (in terms of words/pages)
- How to pre-qualify prospects (in order to save time and maximize profits)
- 3 strategies for increasing traffic to a Web site
- James’ top money maker so far
- When he met Bill Gates, and the key point James learned from him (and still profits from)
- And much, much more… (including a special tip at the end)
Until noon tomorrow Monday (PST which is GMT -7) you can get Building An Internet Business From Scratch – Making $1,000 After 24 Hours for $35. After this 24 hour special the price will go up to $100.
Here is the URL to order the DVD (opens in a new browser window or tab)…
http://kunaki.com/sales.asp?PID=PX0084UIFB
NOTE: I extended this special until Monday noon. Please see this post for details.
By the way, once we were talking for a couple minutes, there was an outrageous happening going on…
—Marcus Hochstadt
15 CommentsPermalink Tags: from scratch, internet business, james brausch
Whats that, “Protected”? Password?
Published by Marcus Hochstadt | Posted in Business
Didn’t I warn you? I did say I’m going to publish a password protected post today, didn’t I? And now you want access to that post, right? Well…
Sorry, it’s too late.
Though, you can get access to future password protected posts. How? Easy…
Subscribe to the blog announcement list. What is the “blog announcement list”?
See that form in the upper right, right below my picture? (Click here to go back to the top of the page: http://www.hochstadt.com )
Simply enter your name and e-mail address, confirm your subscription, and you’re well on your way. In the future, whenever I publish a new password protected post, you’re going to receive the password to that post in your e-mail box and therefore access to it.
You’re also going to receive short e-mails announcing new blog entries (hence the term blog announcement list).
—Marcus Hochstadt
Only 3 Hours Remaining
Published by Marcus Hochstadt | Posted in Specials
The end of the 24 hour special is very close… only 3 hours remaining.
I figured not all of you took a close look at the DVD cover at kunaki.com (by clicking on the green “Rotate Case” button in the upper left.) On the backside of it one can see a lot more of the topics covered on this particular DVD, The (Internet) Life Of James Brausch — From Homelessness To $160,000/Month.
So I thought it’s a good idea to list them all here on my blog now…
- The time James Brausch got started on the Internet
- How he lost $7.5 Million literally over night
- How to get the right information from forums
- Proper and profitable keyword research
- SEO misconceptions (and his secret on getting #1 rankings)
- Components of a successful sales letter
- How James made $1.5 Million/year using affiliate marketing
- How he sold two of his Web sites for $150,000 in 1.5 hours (which took him 4 hours each to build)
- Article Marketing and what 99% do wrong
- The crucial part in order to hire good ghostwriters
- How James built a 100% automated Internet business (that he still profits from)
- How to find the right business partners
- The secret tip John Reese shared with James
- The clever idea that brought James to develop Glyphius
- What he did to get a float of visitors to his first blog
- What his #1 Top Seller product is (and why)
- How to set up payment subscriptions properly to maximize profits
- And much, much more…
Obvioulsy, this DVD is jam packed.
Here is the link to order the DVD…
http://kunaki.com/sales.asp?PID=PX00B14RFB
Until noon PST, $35 instead of $100.
—Marcus Hochstadt
5 CommentsPermalink Tags: internet business, james brausch, success
24 Hour Special
Published by Marcus Hochstadt | Posted in Specials
The (Internet) Life Of James Brausch
From Homelessness To $160,000/Month
Would you like to know when the Internet business millionaire, James Brausch, got started on the Internet? OK, maybe not that interesting, but…
Would you like to know how he made $8.7 Million/year, then lost $7.5 Million literally over night? A shocking story…
Or what about some major SEO misconceptions, and his secret on getting #1 rankings at the Search Engines for highly competitive keywords over and over again?
Then there is how James made $1.5 Million/year using affiliate marketing.
Oh, and the secret marketing tip John Reese shared with him over dinner table.
Ah yeah, we also talked about what 99% do wrong in article marketing.
Then there’s the critical factor when setting up payment subscriptions in order to maximize profits, which is also revealing.
Also, the crucial element that enables him to find and hire good ghostwriters.
Or how James built an Internet business that’s running 100% on autopilot. (He still profits from it BIG time.)
HA! I know what he did to get a float of traffic (i.e., visitors) to his first blog. That secret is also on the DVD.
DVD?
Yes, today is a special day.
I’m going to release the first DVD of the interview series I did with James Brausch in Costa Rica this month.
Until noon tomorrow (PST which is GMT-7), you can get The (Internet) Life Of James Brausch — From Homelessness To $160,000/Month for $35. After this 24 hour special the price will go up to $100.
Here is the URL to order the DVD (opens in a new browser window or tab)…
http://kunaki.com/sales.asp?PID=PX00B14RFB
And right at the beginning, he couldn’t help but perform a short Frank Kern parody… ;-)
—Marcus Hochstadt
P.S. We did this interview in the luxurious Tabacón Grand Spa Thermal Resort in Costa Rica. You may feel like you are right there together with us while watching the DVD. Sun is shining… we’re drinking cocktails… bubbly hot springs in the background… awesome.
14 CommentsPermalink Tags: internet business, james brausch, success
Xandari Spa Resort Costa Rica
Published by Marcus Hochstadt | Posted in Business, Lifestyle
Yesterday was the third interview day with my Mentor, James Brausch. He geniously agreed and offered a second and a third day with him, which I’m endlessly grateful for.
“Dude, either you drink that cocktail now or I do…”
We were in wonderful Xandari Resort & Spa and had a great time there. Xandari is a luxurious hotel with a spa center, located in the central valley of Costa Rica. It is very beautiful with lots of flowers, trees, and has a very friendly staff, always with a smile on their face and very helpful & supportive.
In this and the last week I really got James to work 10+ hours. (He usually works only 3 hours/week.)
If you know James you know that he lives his life on his own rules. He is the one who decides what to do and who to meet when. So why and how did I get him work more than 3 hours? What did I do to get him in front of my camcorder three times? What was the reason?
Giving value to his business
The goal of an interview is giving value to all three… your audience, you, and the person you interview.
Some folks are tempted to think of their own advantages whereas, optimally, a good interview ends in a win-win-win situation.
“That lunch was excellent, like sheeeeeee’s…”
For now though, I have been put to work. There are 10+ videos that I have to get out, which I’ll do withing the next days and weeks. (Geez, if the Internet connection at our location would not be so awfully slow…) Here are a couple topics we covered in great detail in those three interview days…
- Building an Internet business from scratch (and how to make the first $1,000 within 24 hours)
- Step-by-step plan on how to create a product, which product, to which price, ways to overcome “product creation blocks,” etc etc
- Blogging essentials and how to start one
- Internet business optimization and how to increase traffic, reader interaction, income, word-of-mouth, etc
- Outsourcing secrets and an exact step-by-step plan on how to find top contractors, the top 3 sites, which text to use, etc
- Top tips on traffic generation (incl. step-by-step plan when starting from scratch)
- Article marketing (and what most people do wrong)
- List building and ways to increase your list (and his take on RSS and Feedburner)
- Affiliate Marketing and Google AdSense, the biggest mistakes people make, how to approach it properly, and his biggest successes
- When James started his Mentoring program (and when & how to start one)
- And much, much, much more…
And there was a chance of asking him the questions some of you, my precious blog readers submitted. (Was literally in the very last minute.)
Again, I’m going to post the answers to these question as a password protected post soon. To receive the password to that post and therefore the answers, you’ll need to sign up to the blog announcement list. The sign-up form to that list is located right below my image, in the upper right hand corner. (If you tried it before and it didn’t work, please try again. It is solved now and shall work again.)
Alrighty, off to some production (and lots of other) work… Very exciting times are coming! :-)
—Marcus Hochstadt
1 CommentPermalink Tags: costa rica, internet business, james brausch, xandari
How To Save 2 Hours Per Day
Published by Marcus Hochstadt | Posted in Tutorials
We all need more time in the day, but short of waving a magic wand to stop time or creating more hours in the day, the only thing we can do is run around in a mad rush to get everything done, right? Wrong.
It is possible to accomplish more in a shorter amount of time – and all with less stress! It only takes discipline, focus and learning to say “no.”
Discipline: to eliminate (or outsource) internet “surfing” —
Focus: to tackle tasks with efficiency — and
No: to extra things with no value that add to an already crazy schedule.
Without further ado, here are 10 tips on how to save two hours per day (while regaining your sanity)…
- Check e-mail only at specific times — Of all the time consuming tasks each day, this one has to take the cake. As I’m living prove, you can easily save 2 hours per day just on this one task by implementing a two rules: 1. Save the personal e-mails for off-work hours. 2. Establish set times to check e-mails, preferably twice a day max.
Even better yet, hire assistants and have them filter your e-mail messages, only forwarding the essentials.
- Use a daily planner — This can take a little getting used to, but it’s worth it. Include everything in your daily planner… appointments, “to-do’s,” and phone calls. Be sure to add travel times and an extra 15 minutes on the end of everything for a buffer. You’ll be surprised when you have time left over at the end of the day.
- Focus, Focus, Focus — It’s easy to get stuck in the trap of multi-tasking only to spend the entire day scrambling. Concentrate on completing the tasks at hand until it’s done, and then move on to the next, again, until it’s done.
- Avoid personal phone calls during work hours — We all love our friends, but we have to make a living. At the end of the day, our friends don’t pay our bills, so reserve working hours for Internet business only and call friends after work.
- Learn to wrangle in “needless conversation” — We’ve all been victim to the occasional rambling co-worker or employee. Be tactful and courteous, while gently leading the conversation to its purpose and conclusion.
- Consider different working hours — These days, people sit in traffic every day all around the world. In case you still have and need to get to a day job, consider alternative times when getting to and going home from the office will not be spent in traffic. Did you know the average person spends 38 hours per year in traffic? Glad that excludes me!
- Consider telecommuting from home — More and more people are working from home either full-time or part-time. Eliminating the drive to the office just one day a week could save time and money.
- Give up the TiVo — I talked about this a few times already… The tube is everyone’s friend : – ) but it also takes up valuable time. Reducing time spent in front of the TV allows for the time to do so many other things—like building your Internet business!
- Switch it up — Try a new routine. Talk to friends, co-workers, business associates—or better yet, a Mentor. Ask them how they save time and balance life with a demanding schedule; they might just provide a gem of a tip.
- Plan the next day the night before — Before going to bed, go over your daily planner for the next day. The mind is amazing at accomplishing goals, and while you’re sleeping it will be working everything out to save even more time and increase productivity. This 10th tip is well worth a separate post as it can give you another 2 hours per day. So stay tuned!
There you have it.
Now, the goal is to pick the one that you like most and implement it. Don’t play with all 10 by “trying” here and there a bit. Instead, choose the one tip that you think brings the most rewards in terms of saving two hours per day and act upon it to its fullest.
Then and only then pick another one with the aforementioned approach.
—Marcus Hochstadt
22 CommentsPermalink Tags: internet business, time management
Small Business Time Management
Published by Leisa Watkins | Posted in Business, Tutorials
This is the second time I invited someone to write a guest post for my blog. This time it is Leisa Watkins, a passionated teacher, home-business expert and self-improvement coach. I encourage you to read and bookmark her post. It’s an excellent tutorial on small business time management.
Time is precious. Time is scarce. Time is money. One of the biggest challenges facing today’s internet professional and small business owner is time management. Online time management in particular.
Perhaps, like many small business owners and internet marketers, you waste valuable time on the internet in the name of business.
Many small business owners and internet marketers love the fact that we have a world of information at our fingertips. We love the fact that we can gain a world of business knowledge twenty-four hours a day in the comfort of our own home.
We search and study, looking for that edge, that trick, that tidbit of information that will help us drive traffic, monetize our website, and allow us to “have more time.” And we spend our time learning the tricks of effective time management.
For the small business time management means freedom. Freedom to do what we want when we want to. We love the fact that our time is not held hostage to a set work schedule and that we have control of our time, as we should.
But there in lies the problem. By combining our intense desire for time freedom and our sensuous appetite for information we become painfully aware of how much we don’t know.
We buy into the fear that what we know isn’t good enough. We fear that we will fail because we are missing that one piece of vital information that will make all the difference in the world.
So we try to eliminate the fear with more knowledge. After all we don’t fear what we understand, and we understand what we know. We believe the more information we have the more profitable our business will be. And the more profitable we are, the more time we will have.
It’s ironic, because in the end we’ve usually wasted the time. It’s wasted because we don’t take the time to quickly implement what it is that we learned. Perhaps it’s because we “lack the time” we just wasted away. Perhaps we gained more knowledge than we can act upon and now reside in a state of confusion.
It’s our actions that determine our success, not the information itself that determines our success. Success doesn’t come from a vast amount of information. Success comes from gaining some knowledge, comparing it to our experiences, and taking action.
Ask Yourself:
Are you attempting to become business wise by studying the same thing over and over again?
Are you spending to much time looking for that magic traffic bullet, and missing out on actually taking the action steps to drive the traffic?
Or are you the type of person who can quickly filter the information, and then act on what needs to be done?
With an action plan, your thirst for knowledge and the desire for freedom can fit into your daily life. The key is to decide on a daily course of action and stick to it.
Here Are Some Time Management Tips For Online Entrepreneurs:
- Select a couple of business mentors you really like. Visit their sites daily, check what’s new and then move on to the next task.
- Select a couple of forums to work. Limit the amount of time spent in them each time you visit. Keep a tally sheet. Once you’ve made a set number of comments, perhaps five, get out of that forum. Do the same thing on some blogs.
- Resist the urge to check your email fifteen times a day. Set a specific time, or two, to check your email each day. Quickly handle what needs handled and dump the rest.
- Stick to a couple of online business networking sites. Limit the amount of time you spend there and then move on.
- To satisfy your curiosity set a time limit on the amount of time you’ll spend surfing the web, and discovering new sites. Set a timer. Quit once the timer buzzes.
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12 CommentsPermalink Tags: internet business, time management
Internet Business Q&A
Published by Marcus Hochstadt | Posted in Business
In one hour, I’m heading to the airport with my wife, flying to Costa Rica. We will spend a short week there. Then on Monday, I will spend an entire day with my Mentor. That day, I will ask him lots of questions in regards to building a thriving Internet business. And this is your chance…
You certainly have lots of questions on that matter yourself, don’t you? Submit them by posting a comment to this post! I’ll check my blog on Sunday evening and pick up your question(s) and ask them my Mentor directly!
My Mentor is a multi millionaire, making a living online while working only 3 (three!) hours per week. Yup, that’s true, only three. Incredible, isn’t it?
Again, submit your questions to this post and I’ll pick them up!
The next thing you will want to do is subscribe to the blog announcement list as I’m going to provide the answers in password protected posts only. What is the blog announcement list?
See my picture in the upper right? Below that, there are two fields where you enter your name and your e-mail address. Do that, confirm it, and you’re subscribed.
If you are already subscribed, you will then receive the passwords of the respective answer posts once I publish them—including a short announcing e-mail (hence blog announcement list)—so you can read them.
OK; gotta go! :-)
—Marcus Hochstadt
11 CommentsPermalink Tags: business mentor, internet business, qa
5 Key Steps To Internet Business Success
Published by Marcus Hochstadt | Posted in Business
So you want to be a successful Internet business entrepreneur? Do you know the steps to take in order to achieve your goals and success? I have listed 5 key steps everyone should take when wanting to achieve Internet business success.
1) Focus Focus Focus
Multitasking is nonsense. Do one task at a time until it’s done. Then proceed to the next bullet on the list. Focus on that until it’s done. Then the next.
This is the most important rule of them all. If you focus precisely, you will always get what you put your mind to. However… You don’t want a failed business, lack of customers, or an unsatisfying job; so do not focus on these things. ;-)
I agree, sometimes it is not that easy to change focus. I have struggled with this myself several times in my life, but once you can redirect your lenses (and get rid of all the noise surrounding you), you will be able to reap the rewards.
If you are first starting out, expect setbacks. They come, say “Hello”, and then go away to someone else. Keep on track. Continue to redirect your thoughts to what you do want.
I have told this to people before who have had a hard time focusing on what they wanted after experiencing numerous setbacks. This can be especially hard if your Internet business is not where you want it to be. If this describes where you are at the present time, refocus yourself on other parts of the business or your personal life that are beneficial. This will help you to start looking forward again.
Also, step back and take a look at the bigger picture. Try to see things in a different light, in order to focus on positive ways to bring in customers, increase sales, or just boost your morale about your decision to venture into Internet business.
2) Meet Challenges and Obstacles Head On
Many people decide to start an Internet business because they are tired of the grind of a 9-5 job, fed up with a boss, or just want a new way to bring in extra income. They never expect all the challenges and obstacles that come along with it. As a result, they are not ready to tackle these obstacles, and fail.
You need to be able to accept and deal with frustration. The key is to take each challenge and obstacle presented to you, and use each as a stepping-stone to growth and success.
Even when the going gets tough, always stay positive, faithful, and persistent.
3) Be Passionate About What You Do
You need to stand behind the products you are selling. If you don’t use the products or services yourself, how can you expect to sell it to someone else? This is one of the key points most small business people fail online.
Also, at times you may get frustrated with how your business is going, but you need to have drive to get you through. You have to be passionate about what you do in order to ride the waves of entrepreneurship for many years to come.
4) Create a Variety of Income Sources
Putting all your eggs in one basket is a high risk strategy. And you will not bring in high sales just by selling one product.
Instead, utilize your other skills and offer e-books, newsletters, blogs, coaching, etc. These other avenues will reap high rewards in the end, compared to depending on just one product. (Yes, AdSense is also a “product”.)
Diversification is the key here.
5) Study Regularly
Focus alone will not bring you success in an Internet business. You need to continue to educate yourself and study how others became successful in the market place.
The more you understand the business and what it takes to be successful, the more likely you will be to take the appropriate steps to success. Before you know it, you will be mentoring someone else and help starting their Internet business. :-)
—Marcus Hochstadt
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