BEGINNER’S GUIDE TO ENTREPRENEURSHIP
DESTINY ENTREPRENEUR
WHAT IS ENTREPRENEURSHIP Entrepreneurship is an important engine of growth in the economy. An entrepreneur chooses to instead of working nine to five for someone else, he/she decides to start his/her own business. They want to challenge themselves and work the way they want to without answering to a boss.
EXAMPLES OF ENTREPRENEURS
Bill Gates, founder of Microsoft. There are probably not many people that have not been touched by one of his products, such as Microsoft Windows, Microsoft Office and Internet Explorer.
Steve Jobs, co-founder of Apple computers, which produces Macs, iPods and iPhones, as well as Apple TV.
Mark Zuckerberg, the founder of Facebook.
Pierre Omidyar, founder of eBay.
Arianna Huffington, founder of the Huffington Post, a well-known online news site.
Caterina Fake, co-founder of Flikr, which hosts images and videos on the Internet.
There are many characteristics that entrepreneurs have in common but, let’s look at 5 of the most important: 1. Passion. A start-up founder is often driven by the quest for deeper purpose beyond the sheer mechanics of operating a business. My mission for my startup, Yes Man Watches, is to empower people to consider the most valuable asset in their lives: time. I rise early every morning because I don’t want to waste my day. If you have passion for your start-up, this will drive you to turn your idea into a reality. Without that missing spark, you'll lack the necessary motivation to put in all the early mornings and late nights to get your business off the ground.
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2. Perseverance. Entrepreneurs need to be able to deal with obstacles. A business does not get built overnight, and turning your idea into a reality will take time. You'll have to become accustomed to people saying no to you. What makes entrepreneurs great is having the perseverance to grow regardless of how many times they are shut down.
3. Resourcefulness. A vital ability for an entrepreneur is knowing how to make the most of what you have. Your assets as an entrepreneur will be limited, so use them to the fullest. Tapping into a network is key. 4. Open-Mindedness. As an entrepreneur, you may think you've zeroed in on a business plan, but you'll need to learn to take in the opinions of others. Then if it appears that your plan won’t work, then adjust. As Mark Cuban once said, “Follow the green, not the dream.” If your dream start-up won’t make you any money, you may need to change your focus. 5. Sponge like nature. Being an entrepreneur involves a learning process. If you’re not willing to learn, think about leaving the start-up world. You need to be able to soak in everything and anything you can, just like a sponge. The more you learn, the better. Entrepreneurship is much more than a 9-to-5 job. I don’t breathe without thinking about progressing my business aspirations. If you have an idea you'd like to turn into a reality, go for it. You'll never know the outcome if you don't try.
TIPS FOR ASPIRING ENTREPRENEURS Learn from others' failures. Rather than admiring the small percentage of businesses that grow to become successful, study those that end up failing. Make sure this is what you want. Because entrepreneurship entails so much hard work, it is critical to ensure you're following the right path. Solve problems. Entrepreneurs should always be in search of problems to solve, and not the other way around. Be passionate. Successful entrepreneurs are driven primarily by a need for achievement and the desire to make a meaningful difference. Get advice from those who have done it. Find a mentor who is willing to share his knowledge with you so that you can use it to create your own personal and financial freedom. Be sure to pick a proven, successful entrepreneur who resonates with you and will support you in your growth. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
DESTINY ENTREPRENEUR
ABOUT CARLOS BATISTA – DESTINY ENTREPRENEUR
I only got serious about my online business just over 1 year ago when I was dealt a career and life-changing blow by who I am the time thought was my career-long colleague and friend.
I did not realise it at the time but, this was exactly what I needed to shake up my world and get me to look outside the box and explore what was on offer outside my comfort zone. I had built a successful 27-year long career in the corporate world which one day decided I was no longer needed. I remember the day clearly and the month that followed was one of the scariest, most despairing and desperate times of my life. I had relocated from South Africa to London after being head hunted for this position and now I was thousands of miles away from my family and my support structure. I had to dig deep to find the strength in all the personal development I had done over the last 10 years to pull myself out of this dark state and into a state where I could take control of my own destiny. My personal development education had come as a need to rebuild my confidence after my wife of 10 years decided she wanted to be with someone else. My sons were 4 and 5 years old at the time and my main concern was on how this would affect them and my relationship with them. I am grateful I took the path of personal development because it has served me for 10 years in growing my confidence, levels of success as well as ensure that the relationship between my sons and I was stronger than I could ever imagine. This training was going to once again become another life-changing resource. I remember clearly coming across a question that you should ask yourself when faced with a challenge. This question was the sole reason why I am where I am today.
BEGINNER’S GUIDE TO ENTREPRENEURSHIP
DESTINY ENTREPRENEUR
Once I asked myself that question, I set my intuitive mind in motion and before I knew it, the answers came rushing out. I had previously considered starting my own business firstly in desktop publishing and then online in 1995 and 2002 respectively.
The answer that kept coming out over and over was that it was now time to take full control of my own destiny. It was now time to create my own personal and financial freedom. All that was missing was the right education, tools, resources and mentorship for me to firstly determine my vision then develop an action plan to follow with passion, working on something I love. That is exactly what I did but, more on that a little later in this report.
BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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Disclaimer This e-book has been written for information purposes only. Every effort has been made to make this eBook as complete and accurate as possible. However, there may be mistakes in typography or content. Also, this e-book provides information only up to the publishing date. Therefore, this eBook should be used as a guide - not as the ultimate source. The purpose of this eBook is to educate. The author and the publisher do not warrant that the information contained in this eBook is fully complete and shall not be responsible for any errors or omissions. The author and publisher shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused or alleged to be caused directly or indirectly by this eBook.
BEGINNER’S GUIDE TO ENTREPRENEURSHIP
DESTINY ENTREPRENEUR
TABLE OF CONTENTS Introduction 20 Online business ideas Kickstart your Internet business Blogging quick start Buyer triggers Social media traffic 30 Days to motivation BONUS Recommended resources
BEGINNER’S GUIDE TO ENTREPRENEURSHIP
DESTINY ENTREPRENEUR
INTRODUCTION
At some point, you might have been interested in the notion of making money online. It’s an appealing concept after all – being able to earn money from the comfort of your own home, or even abroad! So, you type in ‘Make Money Online’ and what do you find? Usually, it’s tips on how to sell eBooks, advice on how to earn money as an affiliate and tips on how to get to the top of Google. Often by essentially spamming Google until you get there… Most of what you find won’t be terribly ambitious in other words. And in fact, a lot of it isn’t even going to be the kind of work you’re likely to be very proud of, let alone passionate about. But that’s not what making money online has to mean. Making money online can also mean becoming the next Mark Zuckerberg, Matt Mullenweg or Steve Jobs. The internet provides us with an absolutely incredible tool that is right now changing the world and changing the way we live and work. If the only part you want to play in that is to sell an eBook on losing weight (that’s not factually accurate), then you are preparing yourself for failure. Worse, you’re preparing yourself for success that’s so modest as to be incredibly dull and frankly depressing. Opportunity is knocking and it’s up to you whether you want to take that opportunity to do something incredible or just to try and spam people. I know what I’d rather do. But of course, it’s easy to understand why so much of the information out there is geared toward con artists and ‘get rich quick’ schemes (that don’t work). It’s because the idea of creating a truly game changing service or product is highly daunting. It’s because most people have no idea how to go about finding a truly innovative new idea, let alone how to bring that to market. There are only so many true visionaries in the world. There are only so many Elon Musks out there. This is not something that can be taught. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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Except… is it? As you’ll learn in this book, it is not possible to force someone to have a good idea. I can’t promise that after reading this book, you are going to have a breakthrough that changes the world for the better and makes you rich in the process. But what I can provide are some tricks and strategies that you can use in order to increase your chances of coming up with those amazing, game-changing ideas. Read on and you’ll discover how to help yourself think like a truly innovative entrepreneur. And more importantly, you’ll learn how to implement those ideas and actually take action on them. Because there are plenty of ideas in the world, it’s executing said ideas that is the challenging part!
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20 ONLINE BUSINESS IDEAS
Without an idea, there is no chance to start your own online business. With tons of entrepreneurs out there this first step is one of the hardest challenges, where you might find yourself wandering around the web to get your creative juices flowing. Don't look any further, as we put together a list of 20 online business ideas which you can start tomorrow. Obviously, there is a need for tremendous preparation and research, but hopefully, this list can get you started.
1. Start Your Own Listicle Blog The recipe is quite simple. Look for emotional, inspirational, interesting stories on Facebook, Reddit or wherever you wish and rewrite the short stories into a detailed article. Set up your own site and publish the articles. There are a bunch of listicle blogs out there by now, however, the fact that Viralnova.com was sold for $100 million might get your motivation high. Even though it seems as a simple business, monetizing your site might prove to be a bit of challenge, however, if you know a few things about SEO and AdSense, there is a great chance for success. With a successful promotion, you will be able to pull in tons of unique visits per month, as it seems like we just cannot get bored of these stories.
2. Get Into the Domain Business Even though you might think that best deals have been made long ago, the domain business is still an ongoing thing. Lots of people buy and sell domain names to earn money as it requires only a small investment.
BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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With some thorough research, you can get an idea about what are the most trending domain names currently. This will help you to buy potential domain names which can be later on sold for a profit. Look for domain auction websites on the web, as you can stumble upon expired names, which are back in the pool and available to buy. The chances are high, that you will be the next domain guru, who can make a profit with only a few clicks from home.
3. Sell Apps Smartphones are everywhere and everyone enjoys quality applications. In case you feel like you are up for the challenge, start building apps. With a few clicks, you can get them into the Google or Apple market and start selling. Check for the latest trends and start developing. In overall, app building is a cost-efficient online business, which if done right, can get you great profit. You might need some time before getting things right, however, in the long run, apps can get you the success that you've always dreamt about. As well performing apps can make thousands in ad revenue in each month, this might as well be a great choice for you.
4. Sell Your Design If you are good with designing and creating unique images, you can simply start selling your own design. There are numerous sites out there offering the opportunity to sell your design in form of T-shirts, bags, mugs etc. The only thing to keep an eye on is to keep your creations printable. Once your ideas start selling, you will be receiving a commission for each sold piece. You don't have to worry about shipping, or actually printing the design, the only thing you'll be asked to do, is to upload your images. The registration is free, there are usually no fees, however, before you would start, you should start thinking of your own brand. It always proves to be a great decision to come up with a catchy name at least, as people can follow your shop and will keep an eye on your work. By creating your own brand and selling creative images, you can gain a better reputation, which will lead to better sales.
5. Start Freelancing There are numerous professional platforms on the web which offer the opportunity to start your own freelance career.
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These sites enable businesses to get that required extra help for their project success, while they enable freelancers to build their reputation and apply to various types of projects. Starting from graphic design, translation, programming to data entry tasks, you will find various projects which you can join. Build your own rockstar profile and start bidding to get your business running.
6. Build Websites If you are into coding, offering a website building service can get you big bucks. Set up your own site and describe your services. Start advertising your service on social media and start a marketing campaign. Pay attention to the latest trends and keep up with them to attract as many customers as possible. As the world of web design is constantly changing, you will be needed to learn things constantly. You can get an idea about the latest design trends with a simple Google search.
7. Create Wordpress Themes Another option if you have a talent for designing websites, is to create your own WordPress themes and sell it. As many people look for easy and simple solutions to establish their online presence, WordPress themes are highly popular. You can sell your own designs for numerous sites and profit from your hard work.
8. Become a Blogger Even though nowadays it seems impossible to get profit from blogging, lots of people managed to do so. If you are passionate about writing and have the right amount of motivation, you can give blogging a chance. Setting up your own blog does not require a lot of technical skills, however, getting high traffic is a different challenge. Picking a topic is always hard. If you are an expert in something, you might want to choose to share your own insights, which can help other professionals. Whatever will be your topic about, you will need to invest time to build a strong audience. This will enable you to promote other brands, build new business relationships and finally gain profit. Blogging is rather competitive but if you are good with the words, you can make a profit.
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9. Becoming an Online Affiliate If you are up for making a few bucks online and would like to do it without developing any product yourself, becoming an online affiliate might be your best choice. Amazon, Ebay and most of the bigger companies offer an affiliate program, where the only thing that you need to do, is to drive traffic to their site and get people buy their products. After each sale, you will be getting a considerable commission, where the top commission tier is around 8.5%. You will be also generating profit after users who sign up via your referral. You can either build a new site for a specific product type or add referral links to your already existing blog or website.
10. Get Started with Ecommerce Shopify and Woocommerce make it easy to set up your own online shop in a second. In case you have a product in mind, you can easily start selling online, while there are also several methods, like drop shipping available which can save you from a headache when it comes to storing or delivering products.
11. Social Media Expert With the growing popularity of social media, large corporations are in need of professionals who can manage multiple social media accounts at once. Look for social media expert/consultant opportunities and be prepared to implement, or in some cases even create a social media marketing plan for the company. If you have professional experience and you know how to turn social media connections into customers, this is your best choice.
12. Stock and Forex The stock and forex market is considered to be a risky investment, however, there are numerous success stories all over the web. In case you have previous experience this might be a great opportunity to start your own online business. By exchanging foreign currencies and stocks you can earn a considerable profit, however, it is always advisable to start out small.
BEGINNER’S GUIDE TO ENTREPRENEURSHIP
DESTINY ENTREPRENEUR
13. Sell Your Website Space In case you already have your own blog or website, you can work together with advertisers and sell a portion of your page. This way, you can earn money each time the ad placed on your site is clicked. The CPC (cost-per-click) model is based on the level of traffic to your site, and the CTR (click-through-rate). You can further enhance your profit by utilizing SEO tools and Google AdSense. There are numerous other tools which can help you maximize your advertising potential and get a great profit.
14. Write If you want to solely focus on writing without worrying about the various marketing aspects that come with an online business, you can do that also. Either by writing for other sites or blogs, you can get paid per article. E-books, topics that require special knowledge (marketing, legal, pharmaceutical etc.) will get you higher paying projects. You can also become a professional copy or content writer or editor. Freelance writing is getting more and more popular, so if you have a talent for writing, you should considering this new career path.
15. Become an Online Marketing Expert Do you have experience with SEO? Do you know what SEM is? You have yourself a career in the world of online marketing. Once a site has been optimized for SEO and is full of rockstar content, it is time for the SEM (Search Engine Marketing). In case you have experience and professional knowledge about promoting techniques around the web, the chances are high that you can get an online business running. As usually these tasks are outsourced by companies, there is a vast pool of potential customers out there. Also, a great chance to get a huge profit!
16. Share Your Knowledge Webinars have brought online education to a new level. In case you are an expert in a topic, you can share your knowledge online and make an extra income in your spare time. There are numerous platforms on the web which offer courses on various topics, while they also enable professionals to sign up as online tutors.
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Dedicate a few hours a week to sharing your insights and you can easily end up with a new passion and source of income.
17. Sell Quality Photographs The era of stock photos is slowly coming to an end, as web designs are aiming to feature unique, quality photographs. If you are a passionate photographer, you have numerous options to sell your pictures online. Putting quality material on the web will get you a great opportunity to generate revenue, while if you also focus on creating your own brand, you can get higher chances for an even bigger profit.
18. Become a Virtual Assistant As all businesses are in need of a helping hand to run their everyday administrative tasks, there is a great chance to land a full-time virtual assistant job. This work from home type of job will get you flexibility, while you will surely not get bored, as virtual assistants have to deal with several types of tasks. If you have a phone, an internet connection and a skype account and some office experience, you might as well get started right away.
19. Create Video Content Since the popularity of video content is on the rise, especially when it comes to online marketing, if you have experience with video content creation, you can surely get a business running. Offer video packages to potential clients, look for online projects to participate in and most importantly have a compelling portfolio. Video content can get you a huge profit, but only if you have the required technical skills and marketing knowledge.
20. Podcast / YouTube Channel Are you an entertainer? Well, it might be time for you to hit the virtual stage and show people what you got. With the rising popularity of podcasts and YouTube channels, you now have the opportunity to build a huge audience and share your ideas. Either if you are planning to comment on daily political events, or you would like to create gameplay videos, you can with a few clicks. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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There are millionaires who became wealthy thanks to the online community, so don't be afraid to step out there and let others enjoy your talent!
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KICK START YOUR INTERNET BUSINESS
Starting up an online business nowadays is the simplest things ever. With a few clicks, you can get your homepage or online shop up and run and wait for that long anticipated idea to become reality. Sounds easy, right? While setting up is surely much easier than earlier, achieving success in the overcrowded world of online business is a totally different case. The fact that today anybody can start his or her online business results in a competitive environment, where becoming the next Zuckerberg is not as easy as it sounds. We thought it might be useful to share a few insights on the top 10 factors which are crucial to getting your business into the spotlight of the online world. So, here they come:
1. Be a maximalist Make sure that you have set everything up correctly. It might sound obvious but as you are getting forward on your way to success, numerous problems will arise. The most important thing is to make sure that every function on your web page, or what is related to your own product/service is functioning correctly. You don't want precious content to get ruined as it can easily affect your chances for engaging your audience. Check everything twice and make sure there are no 404 error codes flashing in your customer's face. Do regular checks, test your new functions and ensure that everything works at its finest. Apply this approach to all aspects of your online business and you will surely not fail.
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Sometimes it might seem that double-checking is not crucial, however, in the long run, you will think differently. Keep everything smooth and don't let your user experience get ruined only because it was a Monday afternoon and you were lazy.
2. Don't Save Money on Content Probably you have seen people putting together a great website for their own business but not really paying attention to content - or what is even worse, putting some filler content out there. You have to be conscious about your message. Either write it yourself or hire someone professional who can deliver real rockstar content. Don't save money on this part, as cool content can once again create a drive for engagement and turn your visitors into happy customers. It has to be unique, creative and cool while matching your own brand identity. You might think it is not rocket science, but actually, it is a totally different profession. To see your social media connections or website visitors into happy customers, deliver a strong, unique message with high-quality content. Content helps you to connect and bring your business closer to your audience.
3. Content without Design = NADA All the things mentioned above are also true for design. Even if you get yourself really cool content but try to cut your spending on design, you will simply loose the real potential of your business. People are tired of ugly web pages that try to convince them about how great is their product. Humans judge by outlook and first impression, so don't you dare to put anything less out there than the most astonishing website! Check the current trends, look design ideas and pick the one that best fits your business. You can easily find people on the web who will help you customize a pre-purchased template, or even better, you can build one from scratch and make it truly unique. Think about design as an experience and not only a "thing" that you have to get over with. Over time, you should also re-think your existing design, so stay flexible and get a facelift for your website if needed. Recently video content is becoming more and more popular, while unique, witty designs are also helping online businesses to become leading brands. Once again, don't forget that design is a key aspect of your user experience which should be smooth and cool - making your visitors tell everyone about how awesome is your site! BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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4. Be a SEO King, or Hire An Expert You should be having your own online marketing plans ready to drive considerable traffic to your own web page. There is no real way to be successful without knowing SEO and other advertisement tools that are capable of getting you the popularity that you are after. Either spend your nights studying the latest SEO techniques or hire an expert who can get you going. You surely will not be disappointed by the result. By utilizing the power of search engine optimization, advertising yourself as much as possible, you can get one step closer to your desired success. With all that being said, calculate with marketing expenses as it is the most important factor that can make your internet business a success. Also, in the beginning, you should prioritize your spendings and put marketing expenses at the top. By saving money on SEO, PPC or other marketing opportunities, you can easily fail on the long road to your success.
5. Social Media Rockstar By using social media connections wisely, you can once again channel huge traffic to your own website - turning those connections into customers. For this, first of all, you need to build a strong online community who will tell everyone about your business. Handle your social media accounts on a daily basis and handle them well! Check for the latest trends and adapt them to your own marketing plan. For example, recently live streams have become a huge success. Incorporate it into your own marketing plan and advertise your own business via social media live streams. This is not only useful to get more customers and build a fan base but also to gather data, immediate feedback on your product or service and much more. Sometimes it is enough to have a funny or witty attitude to get the social buzz running but without having experience in social media marketing, it is considerably harder to build your fanbase.
6. Build Relationship Even if you have tons of connections, page views, followers, you are still not giving enough to your fans. Be interactive, approachable and build connections. This is true both for your customers and for fellow businesses, who are ready to cooperate. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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Make sure that your community feels your attention. Without that, even if you have all the previous points in place, your success might not come. Keep an open mind and make sure that your community feels valued. By putting yourself out there, you also have to give a face to your business, which further helps people to connect with your online business. Simply by creating cool content, you won't be able to stay on the top of your game for long.
7. Know Your Audience While setting up your business you probably have - or should have - determined your one and true target audience. While identification is key, it is not enough. You have to be able to think with your customers' heads so that you can satisfy their needs. Always be on the lookout for new data gathering opportunities, as your audience might change with time. Regularly check those numbers, gender details, the average age of your group to be able to plan your next move successfully. This can help you to create new successful products or implement new services after your initial launch. Data is key, analysing it is your way to success.
8. Know the Market Constantly check your competition to keep up with the latest trends. Even if there are no similar services around, you can gather valuable information from your competitors or come up with new ideas. On the other hand, by being up to date on the latest news in your own market, you can see the possible directions in which your online business should be moving. Are others heavily relying on VR live streams? Are they offering special coupons to get more customers? Maybe they are experimenting with something new? If you see something out there which proved to be a huge success, think about how could you uniquely adapt the approach to your own business. In some cases, you will also see some initiatives by others which did not turn out to be a success. This can also help you to keep yourself from a headache and get one more function/feature/strategy off from your list. There is also a possibility that you will find open minded entrepreneurs who are ready to cooperate. Use these opportunities well and work together towards a common goal.
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9. Keep an Eye on Reviews Since 90% of consumers read online reviews (and 88% trust them when considering a business), they can greatly affect your success. In case you are planning to run a complex service, it might be smart to hire someone who can keep track of them while handling social media connections also - to be able to respond to all types of feedbacks. It is important to dedicate time to deal with the feedbacks and respond to them correctly. This will not only make you seem more approachable but will also convince your future clients/customers that you are serious about your business. Furthermore, these reviews can also make invaluable insights regarding your product. You might find that there is still some space for improvement and since you are receiving feedbacks from your customers, it can bring you closer to know your target audience's needs. Listening to your own customers will make them happy, especially if they see that your service/product has become even better after their reviews.These will surely make it possible for your online business to acquire a higher level of reputation.
10.
The Trinity of Online Business
The trinity of online business is key to have an online success, therefore you should never forget these 3 steps: Analyse, Test, Implement. The ATI approach lets you adapt to any new trends, change, or events which can have an impact on your success. Always look ways to gather data which you can analyse. Either if it is about your target audience, your competitors, the feedback regarding your product, you can gain valuable insights. These data will allow you to come up with new ideas, adapt to new situations, or incorporate new trends into your own marketing or business plan. However, before implementing anything new, make sure to run a few tests, to ensure, that you will be able to deliver the highest quality. You can invite a few of your current customers to test your new function before fully launching it. This enables you to create an even stronger community, where people feel valued since they become real participants. Furthermore, you will once again receive invaluable feedback on your new idea, which can help you to decide, whether it is worth implementing or not. All in all, you should always stay flexible and keep the ATI approach, which can help you achieve the success that you are after.
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If you are planning to build a successful online business, don't be afraid to step out there. Once you have received confirmation that there is a need for your future service or product, the list of opportunities is basically never-ending. Even with numerous competitors in your future target market you can deliver long awaited that extra touch, which will make your efforts turn into success. The most important aspect is to be prepared for anything along the way, as the world of online business is constantly changing. Thankfully, there are numerous guides on the web which can help you to get more insights on various online business models and techniques that you can incorporate into your own plans. Don't ever stop learning to keep your chances high and get closer to achieving your dream: establishing a successful online business. While everybody - with an internet connection - has the opportunity to start an online business, not everyone dares to take the first step. However, we fail to realize that even if our plans don't work out, we will gain valuable experience, which can help us to turn our next great idea into reality. Failure is a possibility, but only one of the many!
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BLOGGING QUICK START
The difference between blogging and blogging for profit is monetization. Starting a blog today is as simple, easy and fast as setting up a social media profile. Anyone can start a blog, either self hosted or using a webhost. There are blogging platforms that allow you to have your segregated section, complete with your profile and exclusive posts.
There are free content management systems that allow you to host a blog on their parent domain. You could also purchase a domain, register it, host it and create a website essentially designed to be a blog. Assess the costs of the different options, consider your technical skills such as website design and choose a platform that suits you.
Choosing a Niche There are bloggers who want to write on everything, almost. There are bloggers who focus on a niche. Both can work and both can fail. It depends on the expertise of the blogger. Not the writing expertise but knowledge. Not every blogger can develop a sound understanding of every subject that can be written about. If you are alone or have a very small team, then it is best to focus on a niche. Trying to write about too many things will not only be bafflingly challenging but it will also confuse your potential audience.
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Readers like specificity. You too would be perplexed as to whom you wish to target. If you check out the popular blogs or even the video bloggers who have amassed millions with their channels on YouTube, all of them are focusing on a niche that is well sorted.
You could write on anything, from fashion to technology, geology to politics, economics to history, consumer electronics to real estate, family or kids to relationships, dating or health, sports or current affairs to news, events, photography and anything that interests you.
Bloggers who have an astute understanding of what they are writing or the larger domain will always do well. Blogging is not just writing. It is a fine combination of writing acumen, knowledge, specialization, awareness of latest updates and an understanding of what people or readers are looking for.
Choose a niche that you are comfortable with and equally important is the readership. Do not pick a niche that no one is interested in. You can write a blog on such a niche to satiate your own desire but such a blog will be hard to monetize. You can only monetize a blog for profit that will have substantial traffic.
Microbiology or nuclear science, applied mechanics or even the history of textiles would not be appealing niches, even though some interesting posts can potential get thousands or hundreds of thousands of hits. A niche must be perennially popular for the blog to be monetized for profit. You need sustainable revenue and not a onetime windfall gain, although the latter too is welcome with the sustainable profits.
Path to Monetization There are many ways to monetize a blog. One of the most unpopular and ineffective methods is subscription. We live in an era when information is free. While you can have your content and intellectual property protected with copyrights, you cannot really prevent the information from being available in some other form. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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Reproduction of information in non-plagiarized forms will always happen. Since there is no dearth of information, subscription has not really been the most successful way to monetize a blog.
Even the most popular newspapers and magazines are losing paid subscribers. However, if your niche is very refined and your target audience is looking for rare exclusive information then you can charge a fee. This will not work for most types of blogs but then there are always exceptions. You need to assess if your audience will be willing to pay a subscription fee per month or yearly to access your blog. This can be a captive source of revenue and hence profit.
Advertisements The most widely used method of monetization of blogs is advertising. There are many types of advertisements you can resort to. First there are Google AdWords which would put relevant advertisements on every webpage or post on your blog. Your website will effectively be populated with ads as per the modus operandi of Google and the likes of Bing. You sign up for the Google Ads and they will sprinkle different kinds of ads in allotted spaces on every webpage.
Such advertisements pay revenue in different ways. Pay per click advertisements will get you paid only when the readers on your blog actually click on the links put up in the ads. Pay per view or impression ads will generate revenue based on how many people are on the given webpage coming across the advertisement. Some ads require visitors on a blog to hover over the advertised link or content for the impression. Usually, pay per view ads has fixed revenue for a certain count of thousand or several thousand.
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Then there are sponsored ads, banner ads, footer ads and larger sponsorships. You could have sponsored ads on top or bottom of your webpage, ala banner or footer ads, ads within the content you are posting, on the sides or you can have a specific webpage dedicated to only one advertiser or just one brand that will have its offers dominating the layout of the webpage.
These can be facilitated by Google or you can have your direct association with advertising networks. You may also get brands to directly advertise on your blog but for that you would need a substantial readership to entice them.
Advertising is a steady and rewarding source of revenue for blogs provided there is a large readership. Blogs that are not read by too many people will generate almost no or insignificant revenue with ads. This is why other methods of monetization become not just important but essential.
Affiliate Marketing Affiliate marketing is an effective way to monetize a blog. It has a simple modus operandi and can be used by any blogger. You need to sign up with an affiliate marketing network, also referred to as affiliate network, and start promoting the products or services directly or indirectly. Affiliate marketing is quite simple.
You come up with a blog post wherein a product or service, in most cases multiple products and services, will be advertised or showcased. These products or services could be just mentioned in fleeting reference within a post or the blog post can be about those products and services. If the reader clicks on the link of the product or service and purchases or signs up then the blogger gets a commission.
Affiliate marketing has become a rewarding source of revenue for bloggers, principally because one doesn’t need a very large readership to earn revenue.
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Even if one of your blog posts get fifty views and two people end up buying a product or signing up for a service, you can get a handsome commission. Such commissions could be exponentially greater than what you would earn with pay per view or pay per click advertisements. However, people have to buy or sign up for the products or services respectively for you to earn anything.
Affiliate marketing is often upfront wherein the blogger makes it amply clear that the posts are about products and services. These posts are mostly reviews or accounts of personal experiences. They are informative but do have some degree of promotional intent in the manner the content is created. The purpose is to offer information and to influence the buyers to purchase the product or sign up for the service being promoted. You could also do this in a subtle way, without making it obvious that you are an affiliate blogger.
Paid Content You could monetize your blog with paid content. You can get paid to write specific types of posts. These could be informative, reviews, assessments of specific products and services, comparison posts, analyses of companies or brands, endorsement articles or just outright informational posts to help increase the outreach of a company. Paid content is very common and even some of the most read blogs have various posts that companies sponsor directly.
However, a blog cannot survive entirely on paid content. Then it becomes a glorified billboard. Paid content would inevitably be promotional, subtly or overtly. There should be more organic content than paid content. No reader wants to read a blog that is only self serving and paid content is more in the interest of the company and the blogger than the reader. There are exceptions in cases of products or services that can truly help people in their day-to-day lives. Other scenarios are outright consumerism.
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Direct Sales This may not sound like a very plausible strategy to monetize a blog for profit but it is absolutely plausible. Affiliate marketing, paid content and ads are essentially promotions. They are all about commerce. Facilitating direct sales is more straightforward and honorable than the indirect measures. There are blogs that host direct sales. Incorporating ecommerce features in a blog is no big deal these days.
People who explore information and trust the bloggers they follow ardently don’t mind shopping for products they need directly from the blog. This has become very popular in fashion, beauty and healthcare sectors. This is becoming a trend in electronics, accessories and peripherals. Depending on the niche you are targeting, you can easily set up an online store and sell select products or services. Do not vie for a marketplace as you would have to cater to your niche. Be selective and have only the best products or services. Have an ecommerce strategy to go along with your everyday blogging.
Blast Marketing Any readership can be used as a database. Your blog should have a privacy policy and you should make it lucid how the data obtained from the readers and followers would be used. As long as you are not compromising the privacy or security of your readership, you can use their data in a myriad of ways. You could use the database for blast emails or text messages. You could use the database for social media marketing.
You can offer such blast marketing services to a plethora of companies cutting across industries. Chances are your database will be in demand for businesses operating in the industry which is also the niche your blog is scattering to but a database can always be used for marketing products or services in multiple categories or niches.
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Multipronged Monetization You have to start somewhere and with something. You need to pick one path to monetization and perfect it. If it works, then you should improve it and then consider another option. If it doesn’t work, then have it in place and then expand your scope of monetization. You can never be sure which monetization attempt will work wonders for you.
It is also true that each of these methods has its strengths and weaknesses so they all must coexist. It could be affiliate marketing one month earning you revenues that you need to stay profitable for six months. It could be sponsored or pay per click ads in another month that will earn a mini fortune for you.
The simple reality is that a blog must have a multipronged monetization strategy. You should be open and prepared to generate revenue from any and every possible source. An assured revenue or multiple sources of revenue is the only way to survive, to ensure a blog is profitable and to remain focused on what matters more than everything else, the readers.
The readers want helpful information, content that will positively change their lives or assist in their decisions. To achieve this, you ought to stay committed to research and ever expanding knowledgebase, you must be dedicated to creating quality blog posts and you must continue working on expanding your readership. These will be daunting challenges if you cannot come up with a multipronged monetization strategy that works and will work in the future.
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BUYER TRIGGERS
The mind is the root of every action and reaction in our world. What we do physically is merely the manifestation of what’s going on in our mind. Our actions are extensions of our thoughts. Even when our actions seem to go against our thoughts, they are in fact driven by our subconscious compulsions. Every action and reaction can be traced back to the human psyche.
Customers, consumers or clients are no different. People decide under the influence of psychological triggers. These psychological triggers can be influenced by many factors. While there are dozens of elements that can influence the psyche of an individual, here are the ten most important psychological triggers that convert leads into customers.
1. The Quest for Pleasure Every human being is drawn towards pleasure and is averse to pain. No one wants to suffer and everyone wants to have a good time. This desire to be pleasured drives people to buy specific products. As a company, marketing professional or salesperson, you need to present your product or service in a manner that will help the lead to imagine some form of pleasure. The product or service could be anything, right from a foot massager to more data in a post-paid plan. Affordability will always be a quintessentially influencing factor but the lead will at least be interested in buying or signing up if pleasure is assured. The worst selling products or the duds in any industry are those that exist without offering any substantial pleasure to its intended customers or users. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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Now, pleasure is not always physical or emotional or psychological. It varies from person to person. Pleasure needs to be well defined in the context of the product and given the kind of audience you are targeting. Once you identify the exact the form of pleasure your audience wants, strategize your marketing campaign accordingly. It is not necessary for a materialistic product to lack emotional pleasure and an immaterial service to have no physical pleasure. Smart marketers know how to package their product or service and how to convey the message.
2. The Pursuit of New and Original People love new stuff. It doesn’t matter what the product is. New clothes, new shoes, a new car, a new house, a new phone, a new laptop, a new set of speakers or it could be a new set of wine glasses. Everything new has a special appeal. It helps if the product is also an original, that is to say it is not the run off the mill stuff that is already aplenty in the stores. The pursuit of new and original can be explained using the proven fascination with novelty. Studies have proved that exposure or anticipation of novelty items increases the secretion of dopamine in the human brain. Hence, it is a neurological trigger.
Let us illustrate this reality using two simple examples. Every smartphone maker and automaker in the world keeps releasing new variants of their existing models. Other than the rare instance, there is hardly any significant change or improvement in the subsequent variants. You can consider everything from an iPhone to a Galaxy, a Volkswagen to a Toyota. The existing models are repackaged, some specifications are tweaked, some features are upgraded just marginally and there you have a newly manufactured phone or car.
This new original product builds anticipation and is satiating for many people. Had this not existed, people would have turned around and said the phone is two years old or the car is eleven months old. They would look for other phones and cars that have been launched in weeks or a few months leading to their purchase. What’s old is the past and people don’t like delving into the past. Everyone wants a piece of the future.
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3. The Quintessential Reason Every product in the world has multiple features and at least one benefit. Else, the product should not exist. The features and benefits will do their job to capture attention and will trigger some interest in the people but they are not enough to drive the sales. You can talk as much as you want about the benefits or features and yet you may fail to convert a lead into a customer.
The reality is simple. The lead is waiting for the quintessential reason. Many marketers and salespeople have been misled to believe that people need many reasons to buy something. It is absolutely not true. Most people don’t even know all the features of products that they have purchased. The average consumer is not that savvy or interested. The average consumer has a lot of stuff on their plate. They need one good reason.
Let us talk about organic food or green tea. Does any average consumer know all the differences between organic food and inorganic food? Does an average consumer know exactly the difference between green tea and what has been called tea for ages? Even those who drink tea everyday don’t know the difference between normal tea and green tea or black tea and yellow tea. People have one good reason to opt for organic food or green tea and that has been enough to promote these two products across the world.
4. What’s the Story? The consumers are not interested in the story of a company. They don’t want to hear how a product has come into being, definitely not when the product is yet to become a bestseller. The consumers want to hear a story that will trigger their emotions. This is the story that marketers or advertisers must conceive.
Many years ago when television was not as popular and technology was not what it is today, Volkswagen came out with an advertisement.
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It was just an image of identical houses in a nondescript but beautiful suburban neighbourhood with lawns and paved driveways. Every house had a van parked outside, which was the Volkswagen station wagon.
The image was captivating for sure but it was the few lines accompanying the image that told a great story. It triggered an intellectual response. Needless to say Volkswagen did have an amazing response. You may be aware of the commercials of the sixties through the eighties and even the nineties. You are certainly aware of the stories various commercials narrate during Super Bowl and other major events. The objective is simple: to trigger an emotional response so there is an immediate connection with the audience.
5. Simplicity Consumers love sophistry, complex craftsmanship, complicated mechanisms and wondrous technology but they don’t want to deal with those first-hand. They want these elements inside the product which must be simple enough for them to use. Everyone uses a remote transponder key but not many want to know how push button ignition work or what the transponder chip actually is. Any product that appears to be complicated or difficult to use will not influence a lead to become a customer. Every product that is utterly simple to use and has some significant utility will always influence a lead to at least consider buying.
There are products that aren’t simple. It is the job of the marketer or the advertiser to simplify the product or at least the messaging. The use of the product or availing the service, securing the benefits of the features or eventually deriving the pleasure as promised must be simple. If the customer has to make an effort to understand a product or service, if a lead imagines using the product or service to be tiresome or requiring a great deal of labour, then the whole campaign will be a definite failure.
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6. Following / Popularity / Brand Value / Fandom This can easily be the most important psychological trigger but the reason we mention it at sixth is because a company needs to master the first five to become a brand with a worthwhile following. Popularity of a brand instils credibility. People trust its products or services. Fandom instils a sense of unity.
People come together and feel like a part of a larger group. Human beings are wired to find a common reason to unite. This has happened more gloriously in case of all religions. Cultivating a loyal or committed following is necessary for every company to sustain its success.
There is a reason why millions of people around the world line up to grab the latest iPhone. In addition to the pursuit of novelty and the quest for pleasure, it is the sense of being a part of the larger group of iPhone users and the fandom that drives the people to put in the effort, also their money.
7. Enticement or Intrigue We are drawn to what we know or have experienced. We like eating our favourite foods, we cook the recipes we have mastered and take pride in the creation, we support our favourite teams and expect the best from them, we like the comfort of being with our friends and also seek job security. There is a part of us that wants predictability, certainty and continuity. Then there is a part of the mind that craves surprises, wants to explore the unknown, is waiting to be enticed or intrigued. This curious part of our mind can be easily used by a company to generate traction for its product or service.
This is not the same as the pursuit of something new or original. It is the longing for something different. While we go about our lives in the most mundane and obviously expected manner, we want to try out something new or have a different experience.
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Any product or service worth its cost that has this intrigue or enticement will easily convert leads into customers.
8. Fear of Loss / Fear of Missing Out This is a psychological trigger but has been diluted in recent years for being used, overused and even abused by most companies.
Fear of loss has always been a driving force and has led to overnight bestsellers but it works only when used sparingly. Companies keep blasting their leads with emails, highlighting limited time specials again and again. If the lead knows that you would keep repeating the same offer or similar promotions time and again, then it doesn’t really create any fear of loss.
Smartly timed, placed and messaged campaigning that genuinely instils a fear of loss will always convert a lead into a customer. Fear of missing out needs to be well substantiated. It cannot be a random claim. Companies need to provide enough proof that the item has already been bagged by many like the lead being targeted. A newly launched product or a new service cannot really use fear of missing out because the leads don’t even know what they would be missing out. That is unless, the product or service is a follow up of what is already out there and the leads know the benefits, effectively the pleasure.
9. Verifiable Proof Whatever it is that you promote, a lead is likely to believe your claims if there is verifiable proof. Products in action, services being endorsed by people, independent studies or reviews that substantiate the claims and any kind of proof that is verifiable will always instil the trust a lead needs to make the final decision.
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As long as there is an iota of doubt over the functionality or utility, durability or reasonability of a product or service, a lead will not take the plunge. The verifiable proof can be something as obvious as social media following or mass scale endorsement as evident in sales.
10. Fuss / Hype / Press / Controversy Press or media has one of the most influential psychological impacts. When something gets highlighted by the press, people pay attention. When there is a lot of fuss or hype surrounding a launch or about a product, service or company, there is an urge to check it out.
Even when there is some kind of controversy, it helps in publicizing the product or service. It is not true that there is no bad publicity but it is obviously true that hype or fuss and any kind of media attention are psychological triggers.
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SOCIAL MEDIA TRAFFIC
Social media has the potential to become the largest source of online traffic for any company. That distinction is now claimed by search engines.
While search engines do have a wider footprint and record more activity than social media, the ability of companies to reach out to their target audience and in person is what makes social media special.
You can target profiles and hence generate quality traffic from social media platforms.
Search engines have very little to offer to companies that don’t manage to get their websites ranking on the first page of search results. Social media too has its share of challenges but those are a little less overwhelming.
The odds are a bit more manageable compared to organic search engine optimization. There are more than two billion people on social media. There are dozens of social media platforms. How you strategize your social media outreach will determine the traffic.
Here are ten tips to get traffic from social media platforms.
1.
Know what to post. It is no secret that you need to come up with engaging content to intrigue your followers and the larger target audience so they check out the links or information and get redirected to your website.
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Normal posts, shares and tweets or images and videos will be of little help unless there is a content development and management strategy. The content can be anything from an article to an info-graphic, an image to a video. You could share short or long content, in snippets or as a larger report hosted on your website. You could publish content directly as pages on sites like Facebook and Twitter.
Whatever you choose to share must be relevant for your audience. For instance, very few teenagers would want to read a three thousand word post. Very few professionals will have the time to check out a five minute video. You need to know how much time your target audience will be willing to give you, what format they would prefer to access and what kind of information they are looking for. Develop the content accordingly.
2.
Interactive content works better than one way communiqués. Polls, quizzes, surveys, contests and any kind of Q&A or inviting feedback will open up a channel of communication. Social media works best when there is a two-way communication and in real time. Twitter and Facebook have become phenomenally popular because of this reason.
Companies are using these mediums to engage with their audience live. When you are done with polls, quizzes, surveys, contests and feedback generation or addressing grievances, you should focus on content that will initiate a discussion. Contents that encourage or invite comments, where people have something to say will always score better than just close ended informative contents. The purpose is not just to share some helpful information but to get the reader to check out the website. Only that will generate traffic for you.
3.
Once you know what to post, you should know when and where to post it. There are specific times when people of specific profiles come online and check their timelines.
Students wouldn’t be online when they are supposed to be at school. Professionals will not check the posts from brands they follow when they are in the midst of their first meeting or the end of day session at work.
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Homemakers will rarely be online when they are cooking breakfast, lunch or dinner, doing chores or when they need to get groceries. Likewise, every social media platform has its periods of peak and off peak activities.
Find out when your target audience is live or active and on which social media platform. Share your content when your target audience is online and has the time to check out your posts.
4.
You can post your content at the best possible time after due research and even then your traction could be limited. Be sure that your competitors will also do their homework and post at the same time. Hence, you would need to repost your content. If you repost frequently then you would just be spamming your audience. Time your reposts smartly and offer something new every time. Do not just share or re-tweet. Add a new fact or highlight something new from the post as you repost it or share it. This will keep the same post interesting and you can avert being deemed a spammer.
5.
You must become an influencer or you should use influencers. Associate with influencers on specific social media platforms who are followed by many and whose opinions are trusted by many. If these influencers endorse your posts or share your content, then you can be sure of having a windfall gain in traffic.
Some influencers offer their endorsement for a fee. You could try this route. You can also go for organic endorsements. In due time, your social media presence must command the influence to form and shape opinions.
6.
Try to trend your content. You can use hash tags for easy indexing of contents and also to entice more people to check out the piece. You can sponsor a post or some content to pop up on timelines of people who don’t follow you. A trending topic will always have a larger outreach and you would witness a spike in your website traffic. Social media is all about expansive outreach and that is what you must focus on.
7.
Always work on the credibility of your brand. Your social media presence should be impeccably trustworthy. BEGINNER’S GUIDE TO ENTREPRENEURSHIP
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Spamming, sharing poor quality content or generating interest and then failing to satiate the needs of the target audience will erode the trust of the people and that can be hard to regain. Trusted brands will always have more people willingly checking out the links or contents. Others will be shrugged off by the same people who still follow those handles or profiles.
8.
Promotion or an amazing offer is the best way to generate substantial traffic immediately. However, it cannot be misplaced, mistimed or poorly targeted. Do not put forth a discount for those who wouldn’t be in a position to purchase.
Do not come up with an offer that may look great on paper but doesn’t really help in reality. Do not promote everything but your bestsellers. Many companies commit this mistake of trying to prop up products that people don’t necessarily want at this time or the offers are not enticing enough. Go all out with your promotions if you want an exponential spike in traffic.
9.
Consider social media automation. Automate daily posts, use software to track the traffic generated from social media, use analyses to study the outreach and the impact of every post, have auto follow ups for any activity originating from social media such as a redirected user signing up for newsletters or making an enquiry. These are some ways to make social media marketing more efficient, punctual and organized.
10. Finally, combine social media marketing with email marketing, search engine optimization, pay per click advertising and other outreach programs for an optimum impact. Often, the first communication doesn’t generate traffic or any traction, the second or the third point of contact does and they don’t have to be through the same medium.
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