I’m still amazed by the ratio of aspiring internet entrepreneurs, particularly bloggers, who think the best way to make money online is by teaching others how to do the same to the number that truly understand and believe that just as much money, if not more, can be made in a niche other than the make money online niche.
The truth is, there are more thriving businesses online that that have nothing to do with teaching others how to make money. Think about the day to day websites we frequent.
There are so many services on various platforms online (including mobile) that we transact through on a regular basis. Yet I feel many aspiring netpreneurs are reluctant to enter the space because of a blatant false and limiting belief.
THINK A LITTLE DIFFERENTLY
While there is nothing wrong with trying to make a buck teaching others how to make money online, the space is very competitive and over saturated. In addition to that, scams abound online selling false dreams and promises leave many with bad taste. One of my niche websites about online paid surveys is a classic example of this.
In spite of a proven, working system, it has attracted its share of negative connotation simply by association. Just like credibility by association can prove lucrative for a brand, negativity by association is also a bitter reality.
So is it best to avoid entering the “make money online” space? It’s a personal decision, but why pursue it when several other lucrative opportunities are available that are less competitive and nowhere near saturation? Succeeding in these areas takes exponentially less in terms of time, effort and investment.
I am personally associated with several individuals who are earning a six figure net operating income (not gross income) from their online endeavors in all sorts of niches, from gardening, to roof repair, specialty energy drinks, water bottles, skateboards, bird feeders, vacuum cleaners, dinosaur parties and others.
What do these people or businesses have in common? No, it’s not necessarily passion for the topic or theme of their business, but rather that they all employ proven strategies to succeed in online business – the very same strategies taught by the make money online bloggers. Except, my friends play in less competitive niches with enough market demand to justify the decision to do business.
SELL WHAT THE MARKET WANTS, NOT WHAT YOU WANT
This is where I feel many aspiring entrepreneurs get it wrong. Many sell what they want to sell (hence their passion) instead of selling what the market wants. Passion is important, but more important than passion is a well thought out business strategy that justifies one’s decision to enter into business.
The success of any internet business is predicated on the market demand for what the business offers, the relative competition, the quality of the service provided and then how well the business is marketed or promoted. Most any online business can succeed if the entrepreneur executes these factors right. This is the same approach I take when starting a new online business.
Similarly, many successful online business owners apply the same methods. Just because we don’t hear of them much, it doesn’t mean they are not out there. There are many successful online businesses in all sorts of niches. We don’t know them as much because they don’t toot their horn. They don’t have to and they don’t need to. Personally, I have several businesses online, and only two have anything to do with making money. Most people don’t even know of these.
ANALYZE AND EXECUTE
If you are at a stage where you are contemplating doing business online, or monetizing your existing web property, a website or a blog, do your due diligence to truly understand whether there is enough scope out there for your business idea. If you tend to keep falling back to offering something along the lines of money, think again about other areas of interest that you may be able to turn into a business.
Find your interest, determine if there is a market for it and develop an online business around it. Spend your time and resources studying and acquiring the tools and training you need to materialize your vision. This is where the make money online bloggers come in. Some teach and sell some very good resources that can help you get to where you want to go.
Having said that however, be careful not to get carried away and become delusional about what it takes to succeed. I understand that the tone of some such bloggers may aggressively sell an unrealistic dream. However, do your own objective research and due diligence along with utilizing some common sense.
If you build your business right with realistic expectations and careful planning throughout, you can enjoy the healthy balance between the financial reward, freedom and flexibility that a successful online business can give you.
There sure it a lot of work initially to establish an online business, but this is no different than starting a new career where you have to learn the ropes, consistently perform, build contacts and slowly climb the corporate ladder over time.
How are you making money online today? How is it working for you? Have you contemplated other online businesses? What are they and why are you contemplating those specific ones? Finally, what are your thoughts on making money online by teaching others to do the same? Do you feel many bloggers consciously manipulate their readers and sell them false dreams and promises?
Photo: Apple IIC In The Garage, SD.
BTW, Sunil is giving away an iPad2 and a vacation on his site. Go check it out and enter his contest!