In this article I’m going to reveal a few internet marketing skills that will be critical to your online success and building an easy home based business. I will also spend some time explaining some of the things you will want to avoid if your IM career is to be a successful one. One of the things that most often trips up Internet marketers is not having have an adequate amount of start-up funds. This one thing can severely thwart your ability to make money online.
Not having enough money to cover your internet marketing expenses for at least the first six months, will make it difficult for you to succeed. This is because you will need money to cover your basic operational expenses, for instance, hosting, a domain, marketing, outsourcing and education. It is important to come up with enough money to give your business a chance to survive.
It may take a while to build your business to a point where you’re earning a consistent income. However, if you have a good working model and are committed to the process, you should begin to see profits soon enough.
You will want to obtain some training before launching your business. While quality IM coaching can be had for free, from time-to-time, it may be a good idea to pay for training and coaching. This is true even if you hope to make money via an easy home-based business. The right training can help you make money online much faster then you would be able to on your own.
Why is it important to have adequate funds?
It is important to have an adequate amount of funds to, as mentioned above, cover your basic operational costs. If you do not, it will be impossible to buy the things you need to not only get started but to stay in business, even for an easy home-based business. For instance, if you can not afford a domain name and hosting, it doesn’t matter how good your business model is, you won’t have the money to even get it off the ground.
In addition to basic operational costs you will also want to invest some money in yourself, namely in the form of quality IM training. This is incredibly important, especially if this is your first go round in the industry.
Most internet marketers will need at least $200 each month to keep their business afloat. Therefore, in order to cover your costs for the first six months, you will need to come up with $1200. $2000 would be even better. Having more than you need will allow you a little “wiggle” room in case something comes up.
Where to find funds?
Coming up with $2000 may sound a bit daunting, especially for someone who doesn’t have that kind of money just lying around for Internet marketing. Fortunately, there are ways to come up with it. Borrowing it from your savings (if you have one) is an option. A bank loan or one from a relative, are additional options.
In summary
It will probably take a few months before you start making money online, especially a significant amount. Until that time, you will probably be able to make extra income at home but not much more. In order to make it through the lean times and build an easy home based-business, you will need to raise enough capital to cover your expenses for the first six months you’re in business. Doing so will allow you to do more than make extra income at home but to potentially make a significant amount.
Stay tuned in for part 6… In the next piece I will discuss the importance of inspired working.
Tim Pond is an author, coach and Internet marketer. For more information, go to http://www.ProductAndGifts.com/optin/listbuildinghighway and get instant access to your free special report on building your list fast and easily. The report is part of the series Internet Marketing Secrets Exposed (IMSE).