When I first started in the IM business, my aim was just to make an income from creating Adsense sites. I quickly realized that Adsense sites are a pretty medium term business. It takes time to get the income coming in so I started to build sites for others. By spending 4 or 5 hours a day creating websites for $10 a pop, I was able to quickly earn enough to live on.
It wasn't high paid work but it generated cash which is what I needed at the time. Once the sites I built for myself started to earn a good income I was able to reduce and finally stop providing services to others. This taught me my first lesson.
A solid internet marketing business consists of a long term plan, a short term plan and a medium term plan. There is no magic button.
Because I lacked a lot of cash when I started, I couldn't afford to invest in many tools. I had to learn how to do things manually: keyword research, link building, etc. I was able to focus on the jobs I had to do so I wasn't distracted looking for the next big thing. I still talk to people who started out at the same time as I did in 2005 who are still trying to find that magic button.
A friend of mine, Justin Wheeler, once used a term that sums this syndrome up perfectly, ASOD:
“Attention Deficit Oooooh Shiny”
I get emails everyday promoting the next best thing I need to have. If I don't open them for 2 days, there is something better waiting for me!
If you see an email for something you need then and there consider it. If not, make do with what you already have.
Everything you buy should have a positive impact on your income. Don’t get fooled by “theoretical” products. Look for products with case studies so that you know the creator know what he’s doing.
Focus on what you have. Every cent you spend on a new shiny product is one more cent you need to earn to make a profit. There is no magic button.
I got quite lucky with the sites I built and was soon earning over $4,000 a month with Adsense and a similar amount with product sales, life was good…
Then Google slapped me so hard that I woke up in the 18th century.
Overnight they almost killed my niche site business. My income dropped to 10% of what it was.
To many of you this sounds familiar but we aren't talking about the latest Panda or Penguin update, this was back in 2006.
Google slaps are nothing new to those of us who have been in IM for any length of time. You just need to deal with them and move on.
Any business that relies on 1 source of traffic for an income is a disaster waiting to happen. There is NO magic button.
I was actually quite lucky as I had suspected that Google wouldn't allow things to remain the way they were so I had diversified and started creating products.
I learned the basics by working as an intern for a mad old-school internet marketer who shall remain nameless.
As a result of what I learned, I was able to create my own product and sell 100 or so copies. For a first product that didn't have the benefit of a marketplace like Warrior Forums‘ “WSO's,” this was a revelation to me and I knew it was what I wanted to do.
After that, the rest is pretty much the same. I've focused on creating useful products that will help people do the stuff that I've found I needed.
Forums, Mastermind Groups and Mentoring can provide a short cut to success but like everything you need to be prepared to work at it and follow instruction… There is no Magic Button
The biggest mistake that I've made in my time online was to think I could be successful without building a list. The 2nd biggest mistake was thinking that I needed a big list.
Nothing could be further from the truth. With the right kind of list building and the right approach, you can make a very good living with a small list.
I've spent most of the last 6 months reducing a list of around 10,000 to under 3,000 and I'd still like to get it lower.
Another mistake I've made is not playing to my strengths. Until I partnered up with Pete, I tried to do everything. Product creation, marketing, sales copy, getting JV partners, etc.
This is the wrong way to do things as no one is a master of everything. I've recently started to focus on what I do best which is writing, testing and product creation.
Play to your strengths, and outsource everything else… There is no magic button!
That brings us pretty much up to date so I think that I'll finish off by talking about my future plan;
I intend to build out more lifestyle businesses and buy more traffic.
At present I am averaging between 200% – 300% ROI from bought traffic.
That means for every $100 I spend I make up to $300 in profit.
That's a nice feeling!
The businesses I am building are very scaleable so that I can roll out more each month allowing me to turn $100 into $1,000 and $1,000 in $10,000.
Come and Join The Free Lifestyle Marketer facebook Group.