Getting Control Of Your First Online Business

When thinking about an online business we all get sold on the lifestyle. We are told that once we get everything set up we can make money on autopilot while sipping something tropical with our toes in the sand.

Anyone who has been working online for more than an afternoon knows that getting up and ready is no walk in the park, but it’s also not as difficult or as complicated as it seems. While, yes, there are tons of moving pieces from building your site, to marketing the site, to finding products to sell, to building an email list, to shopping carts, and many other moving pieces that can overwhelm even the most tech savvy entrepreneur.

But you are here at Boss Start because you want to be in charge and that is exactly what I want to help you do.

Getting Control

In order to get control of your first online business, the first thing you need to decipher is what type of business you want to control over the long run. Are you looking to build:

  • An affiliate business
  • A product based business
  • An eCommerce store
  • A coaching or consulting business
  • An ad-driven content network
  • Or something else entirely.

While there are ways to integrate multiple models into your overall business, deciding where the driver of your income will come from is very important for you to truly control your business.

Recently Corbett Barr released a very transparent article on how his high income producing blog made money in it’s first year of online business. The results are pretty phenomenal and are the results of hard work and following a plan very similar to what I am laying out today and over the next 2 parts of this series.

In his post Corbett shares that he has grossed just over $103,000 in his first year. Not bad for a blog, but to prove my points above, he has truly found what his overall business model is for his site and his online business.

  • 55% from product sales (informational based products)
  • 35% from consulting

So the overwhelming majority of his income of his online business comes from 2 aspects that are directly related. Use the product creation model to create a successful and rewarding coaching program. Clearly defined and very effective for one year in business.

Getting Niche

The second step in the first part of getting your online business off the ground is to decided on what topic, niche or industry you are going to focus on. Many people know of our music marketing business, Gen-Y Rock Stars, which has created the New Music Economy brand. This is an example of a niche based online business.

The reason it has become so overly successful is because we are focused on a niche and serving that niche with related content and solving their problems and issues. If we had gone after the “music niche” overall we would not have the success we have had in such a short period of time. The reason is that writing or creating products about music is difficult. There are countless numbers of genres, instruments, groups, bands, artists, platforms and all types of topics to cover – and none of which I consider myself in expert at.

But by deciding on who I wanted to focus on, musicians, and then what I can help them with, online marketing, I found a niche that I could instantly become the expert at and grow my business.

To think of it another way, take someone on Google who is looking for a new computer. Actually they are looking to buy a 500Gig MacBook Pro. Now if you were in the computer business, would you rather rank #1 for computers or #1 or 500Gig MacBook Pro?

The answer is actually #2. While it is true that ranking for computers may drive some extra traffic to your site, it doesn’t qualify the buyer, nor help them get what they want. If you rank for 500Gig MacBook Pro then you have someone who is highly interested in the product and is more likely to be engaged in the buying cycle of that product.

Wrapping Up

As we conclude part 1, I want to ask you about your online business. What business are you in? What products and services do you wish to offer? Who is your audience and how can you reach them?

All of these questions need to be answered before we can move on and start building your site and then marketing it to your target audience. Let me know what you think in the comments below and I look forward to seeing you in the 2nd part of this series.

This post was written by Greg Rollett from Radically Ambitious. If you are interested in creating your first online business, learn more about the new DVD Greg has just released to help people get their first online business up and running.

About the Author: Greg Rollett

Best-Selling Author, Product Creator, Social Media + Direct Marketing Pro.

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2 Comments + Add Comment

  • Great advice! It truly is important to not just work on your website one after to and expect to get rich. These things take time. Thank you

    • Thanks Mark. Greg is an Expert in Internet Marketing. Learn more about IM (Internet Marketing) at the link above for his DVD series. He is incredibly smart and knows his business. Be on the look out for part 2 next tuesday.

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