Multiple Streams Of Income, Part II

HOW TO START UP AND GROW A BUSINESS ONLINE

In this article, you will learn:

• 4 facts why this topic is important
• Top 3 mistakes to avoid in growing your business online
• Top 3 new skills you need to grow your online business
• Top 3 steps to creating multiple streams of income
• 2 support packages

Why is it important to start up and grow a business online today? I asked this question recently during a teleconversation. Some of the replies were:

• To attract clients
• To create multiple streams of Income
• To work from home
• To reach more people outside my geographic area
• Just Google yourself

To clarify the last point, go ahead and Google yourself. Notice what comes up. If what shows up on the first page DOES NOT show you as an expert, then having a greater presence online so people can find you and your expertise is a great reason to start up a business online.

FACTS

1. Today, 72% of all American households are online.

2. People spend more than twice as much time daily on their computers than watching TV.

3. Social networking (online communities of people who share interests and activities, such as Facebook, LinkedIn, and YouTube) has surpassed pornography as the No. 1 use of the Web, according to Bill Tancer, author of Click. What Millions of People are Doing Online and Why It Matters.

4. Today, few web designers have SEO (search engine optimization) expertise. Fewer have social networking expertise. Even fewer have sales copy writing experience (the ability to write compelling text that grabs people’s attention and results in sales. A success online business integrates all 4 aspects.

TOP 3 MISTAKES TO AVOID

1. Wasting money in the “incompetent soup” - Most people are incompetent as web designers, SEO experts, social networkers and sales copywriters. They sink into the soup of incompetence hoping that the people they hire are experts. The result is spending lots of money often with disappointing results.

2. Focusing on “information” rather than “selling” - There are two main types of web pages. The first are sites that are informational in nature. They provide information about who you are and what you do. The second type is sales-orientated. They are focused on “conversion” of visitors into buyers or subscribers. If you want to make money, choose the latter.

3. Limiting sources of income - In today’s volatile economy, if you rely on one source of income, when times get tough, your flow of income cannot grow to exceed increased expenses. Creating multiple sources of income is a great alternative.

TOP 3 NEW SKILLS YOU NEED

1. Creating “electronic” education products and services – It takes a lot of energy and money to publish books, CD’s and DVD’s AND THEN get them in the hands of buyers. With the increased bandwidth of Internet connections, it takes less energy and money, plus the profit margin is greater for E-Books, audios (MP3’s), videos, teleseminars and online classes. Electronic versions also offer “immediate” remedies to help people solve pressing issues like getting a job or increasing income.

2. Creating your own “blog” – I’ve watched in awe as people with little experience with the Internet (even with writing) dive in and grow their businesses and Internet presence exponentially by creating a blog. In 6 months, a first-time writer and blogger has grown her subscription to over 300, received an invitation to present in Europe, and has gotten comments like “I wish I could write like you.” Her site has gone from an Alexa rating of several millions to around 500,000. The key, she says, is posting regularly, every day or two.

3. “Leveraging” and “upselling” – While I mentioned above in #1 that creating “electronic products and services” is indeed a new skill to develop, I have learned that larger profits often come from upselling higher-end services, like speaking engagements, consultations, teleseminars, online classes, etc. You can leverage your lower-end “electronic products and services” to bolster confidence, generate trust, and build your credibility as an expert.

TOP 3 STEPS TO CREATING MULTIPLE STREAMS OF INCOME

1. Declare your expertise – Google, Yahoo, MSN and the other search engines are already showcasing you. They peer out over the Internet searching for websites where your name shows up. You are missing out if you put off taking control of what people see by declaring your expertise. Linda Marinovich, a friend and expert photographer and facilitator, has a great definition of an expert. “An expert is someone who knows how to focus on what’s most important, stays focused, has great follow through, and doesn’t get caught up in drama and unimportant things.” One simple way to declare your expertise by giving it away to help people in need. Look for places to do this online, like discussion groups, listserves, blogs, and social networking sites.

2. Research niche markets for your expertise – When you declare your expertise, amazing things happen. As you put yourself out into the world online, you begin to see places you can position yourself as an expert. “Niche” is a French word that means an “alcove” or a place carved into the wall to hold a special statue or to take a nap. It is a special space where previously there was none. Key word research is one way you can research niche markets by finding out what key words and phrases people are looking for (see videos below for more help in this area). For example, I used to think that there was a niche market for resources to help people discover and express their “genius” or unique talents. I was wrong. Key word research indicated that few people are looking for help to find their genius. What I did discover was that 47% of all people use Google. It only took a few steps to go from “Google” to “expert” to “genius.” So, I could still focus on genius but through the goggles of Google, something that everyone can relate to and get excited about.

3. Package your expertise into products and services – The consuming world buys products and services in packages. When you capture your expertise in articles, E-Books, audios, videos, teleseminars and online classes, you expand the number of people who can benefit from your expertise. When you package your expertise in a way that people are willing to pay for, you’ve got a valuable product that will generate multiple streams of income. In other words, people will pay for your expertise packaged in the right way.

If you would like help with creating multiple streams of income, you will find 3 free videos of tremendous value at www.BrandYourNiche.com.

2 SUPPORT PACKAGES

I am sure you have heard of this proverb: Give a man a fish, you feed him for a day. Teach a man to fish, you feed him for a lifetime. Well, this is not entirely true.

Most people need to be fed a fish for a while until they learn how to fish for themselves (find the right places, bate to use, etc.). So, most people need some of both.

The same is true for online business ventures. Many benefit from being fed solutions and answers, even have work done for them until they learn to fish. After watching numerous people struggle, I have created 2 packages to make their lives easier (feeding them a fish) while they develop their skills (teach them how to fish) over 12 months.

Here is a summary of the 2 support packages:

1. Basic package – In working with people who have little experience with the Internet, a great place to start is to create your own blog. Then, post your writing, photos, videos and other’s articles (with their permission of course) on a regular basis.

2. Premium package – To help people from sinking deeper into the soup of incompetence, I’ve created a way that people can piggy back on my shoulders. Avoid purchasing all the things piecemeal that you need – affiliate programs, audio recording technology, autoresponders, newsletters, payment gateways, shopping carts, refer-a-friend systems, sales pages, sales coupons, landing “sales” pages, surveys, subscription services, and assess to expertise you don’t have – which will cost you over $5,000/year. Instead, use my toys and expertise at a fraction of the cost. If you’re interested, I’ll teach you how to do these things on your own. Then, when you’re bringing in thousands in revenues, you can jump out of the nest, if you like, and fly on your own … with expert wings.

Claim your free audio teleconversation of this article, as well as more information about the 2 support packages, at www.4Grants.Net/nichepackages.htm.

I hope this helps!

~Phil

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