With over 300,000 “Internet Home Business”-related searches on the internet every month, it’s safe to say that there is a lot of demand for information on how to make money on the internet. Sadly, this also means that there are a lot of shady characters preying on this group of people.
I knew someone who fell for one of these once; they taught him how to make money online, and then all he did was sell seminars -- on how to make money online. The fact that he had never actually made any money online was beside the point, I guess. Not surprisingly, I’m not a big supporter of his business.
Can anyone make money online? I do believe so. But not everyone WILL make money online, because as I have said before, making money on the internet takes a long time to learn, and most people give up because it can be extremely frustrating.
My one piece of advice for starting an internet home business is this: Don’t expect to make any real money for 365 days (or so!). Although I will add that service-based businesses tend to bring in revenue faster, I would still allow for a full year to replace your outside-the-home salary.
The good news about this industry is that as long as you are willing to put in the hours (or days, or weeks, or months) to learn the ropes, you can bootstrap your business with extremely little money, generally speaking. Some businesses take more to start than others. I’ve probably directly invested less than $3,000 getting this blog up and running, and now revenue is increasing at about a 125-percent to 140-percent pace every month after being in business for 16 months.
So, where do you start from here? Some general rules of thumb:1. Pre-packaged programs only work as much as you can customize them
and make them unique and your own. Even then, techniques that work for one niche won’t work in all niches.
2. Be wary of any “system” that promises instant results (especially anything that sounds like a get-rich-quick scheme!)
4. Every business is made stronger by specializing in a tight niche. Know your audience and stick to it.
Unless you have a brilliant tech idea that makes venture capitalists drool, you need to determine where your strengths are and which business model you plan on following (and you don’t need this list). I have run three home-based businesses in my life, all of which leveraged my current skill set as the foundation for building the business.