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Today we are going to talk about business models. There are so many ways to make money online. This creates a big problem for many people who are trying to create an online business. If you are confused, you are not going to do anything. Confusion equates to being paralyzed for many people. If you are not really dialed into what you want to do, you could seriously waste a lot of time.
Let’s talk about why people struggle. Everyone is on that path of becoming a specialist. You have people doing Facebook funnels. You have people who do Instagram. You have people who are Twitter specialist. This is the thing with social media, without a good backend, it doesn’t matter how much attention you get.
With the changing landscape of the internet, you have a bunch of people who are trying to get in on what doesn’t exist. I’ve talked to a lot of people who said Twitter didn’t matter. Instagram, if you sell a physical product or you’re really good with imagery, it’s still a winner, Somebody just sent me an email saying they’d promote me on their Instagram. I may do it and may not. That’s an “iffy” business model. If you have an Instagram account, you can only do so many promotions.
Instagram is still good. These things are influencer models. Twitter, Instagram, YouTube, Facebook where you build these huge followings and then go to sponsors to run ad as a way to make money. Part of that is getting harder and harder. Everyone is trying to go to what I call passive income business models where you don’t do much but you continue to make money over and over again.
I can tell you as someone who has made passive income, it I hard to keep and maintain as it always keeps changing on you. Whereas earned active income is so much more reliable. Part of it is, many people just don’t understand how many ways there are to make money online. There are hundreds of ways to make money online.
You can make money with niche websites or Etsy, making things to sell online or taking surveys. People make $5 here and $50 here. It’s cool if you can get it, but it’s not the same as making enough money or livable income. Even if you have a million subscribers, it doesn’t frequently lead to livable income in most cities. In my opinion, $4K to $5K a month is livable income in most places.
What you hear from all the smart minds is you don’t do shit. People suggest you go out and get VAs. Typically, I hire people, because I am more comfortable with that. I need some face time. I need to connect.
If you’re going to scale up, you’re going to have to hire some real people. I’m talking about real salaries. Outsourcing before you develop core competency is a bad idea is a bad idea. That’s why a lot of people are struggling.
This is the number one reason why so many people do not make a lot of money online. There is this false assumption that it is going to be easier than it is. If you’re going to make real money online, legitimately, you’re going to work your ass off. You can probably do $60K to $100K, you can do that. But once you start scaling up, that’s not going to be the case.
Everybody is moving towards what is hot. The big thing right now is internet marketing. Anyone who is half way decent with Facebook ads can make a great living. I know this guy who has five clients and each client pays him about $10K a month.
There are hundreds of ways to make money. But you have to commit to something. A lot of people can’t make up their mind and are always chasing the latest new thing.
A lot of people use systems. People like to use systems. The ability to use these systems is going lessen because the information will leak out over Facebook groups and stuff.
You have to start with what you have and build. When building an audience sometimes you have to take it on the chin in the beginning, financially. But, without getting a start, there is no middle. It takes time. Sometimes you have to spend money to build your audience. You may have to spring for lunch or breakfast. People think it will be so much faster than it really is.
You’ve got to have an email list. It’s the only thing you own online. That’s pretty much it.
If you go ahead and take a year and create a meetup.com group, and make it very different than other meetup groups, it will grow like crazy. But, it’s like running a business. It’s very much like running a business. Audience building is really important.
I see a lot of people recommending that people build disposable business models. These models are based on following trends. Don’t get me wrong, you can make a lot of money doing that. But, when that trend is over, what are you going to do? You are always in that mode of hunting for the next big thing.
Compare that to building a brand, which is slower. When you build a brand, you build authority in a certain area. Even though it takes longer to pay off, when it does pay off, you no longer have to keep reinventing yourself. You don’t have to keep chasing these hot products.
One of the things I believe is that if you’re creative you’re in good shape. As long as you can sell some stuff and solve problems, you won’t be outsourced. In maybe 50 years, that could change.
It is easy for folks online to get scammed. They often look for quick profits instead of substance. They fall for flashy images and hustler porn.
Without traffic, nothing will sell online. People often give up. It is easier to sell a shitty product with traffic, than to sell the best product without proper marketing.
Learning sales tips and how to market is the main way to succeed online. A beautiful website with no traffic is not going to help you sell much. I made a lot of money with my Urban Pack Rat website and it was not professionally done, but it had a lot of traffic.
If you integrate what you like to do with making money, you won’t need to take off. You won’t need or want a lot of vacation time. There is no reason to run from it. If you predicate your life and money on doing what you like, you don’t need to decompress.
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