Money, money, money. Some people have it, most want it and even more don’t have any! But there’s hope for those who are willing to increase their income. Most of us trade money for our time; very few of us disassociate our money from our time. The befits of doing the latter is obvious: it provides a infinitely salable income potential. Think about it this way… there are 24 hours in the day. On average, you will spend eight of these hours asleep, you’ll spend a furthereight of these hours at work and circa four hours on your commute to and from work. That leaves four hours to wash, get dressed and undressed, and to eat!
The above example shows the limitation of the average person’s earning potential. Let’s look at another example: It takes you one year to design and create a product, and to set up an online shop to sell your product. You start selling your product and get orders twenty four hours a day. You employ some virtual assistance yo help you administer the business. Once they’re trained, all you need to do is sit back, while your business earns you money.
Marketing is something of an art. It is, in essence, a way of reaching out to people — customers — who you can interest in your product(s). There are many ways one can market. For example, Facebook is an effective platform: using Facebook adverts, one can easily identify groups of people who may have an interest in your product and/or service. Google is another marketing challenge: one can easily create an advert that shows on related keyword searches, appealing to potential customers.
Like with most things, there is a skill to marketing properly. It takes practice, so it’s best just to try something out, see what happens, and to make necessary changes as you see fit. An effective marketing campaign will take funds away from one’s business… but it is important to realize that all marketing exploits, while initially expensive, should return money in excess of funds spent on the advertising campaign. If your marketing campaign returns the same or less money than the initial outlay of funds… then it should be shut down and rethought.
These are the very basics of starting a business, be it an online business. Starting small is often a good idea — Rome wasn’t built in a day now was it. Trail and error… providing you take the right steps, you should see some returns relatively quickly. Check back for more money-related posts and useful hints tips and best practices.