Don makes a lot of emphasis on how you can make a lot more money with the Internet because of the vast international audience and millions of new people are gaining access every year. A very simple statement from a simple man. One could make a lot of money, but MOST do not, no matter how hard they try. I work my butt off 50+ hours a week on my site and yes, I make money. If I didn't work so hard, I would make nothing. And even for the work I do, it is nowhere in the thousands of dollars per week Don would make you think.
No one controls or polices the Internet (yet!) However there are certain standards a business person must conform to in order to gain credibility and not notoriety. Many of these programs promote the idea of sending an offer by e-mail. If done the wrong way it is called spam. Spam is an absolute no-no. If you spam the wrong person, you will face flames, fines, loss of your ISP and your web site may be refused by the host. Mass e-mailing to thousands of people is an effective way to get your message across, only if done the right way. If you are mass e-mailing your ad along with a newsletter to which the person subscribed or sending your ad in the form of an autoresponse from your visitor posting to your site, this is acceptable and will get your message out without much hostility.
Ad issues aside, you also need to use common sense. If you are going to set up a web site in order to make money, you have to give the audience a reason to part with their money and give it to you. Sites that are nothing but banner farms (nothing but banners and ads) lack imagination and don't really invite the surfer to come back or visit your sponsors.
As with any other business, it must be true to your heart. If your business is just to make money, you won't get very far unless you come up with a reason why people need to make you rich. What do you like to do? Are you a writer? Artist? Knitter? Car dealer? No matter what you like to do, turn it into an angle where you can profit from your experience and knowledge.
When you know what kind of business you intend to run, figure out who your target audience will be and where you can find them. Then you have to figure out how to get them to you and keep them coming back. You don't necessarily need a web site, but a web site will add credibility and stability to your business which is important when dealing with strangers.
If you set up a web site to promote your stuff, don't just throw a sales pitch at your target. Make it more interesting and related to your product. Strut your knowledge about the topic and let the surfer think you know what you are doing so they will feel safe doing business with you.
Many web companies that are having the most trouble are those who put the cart before the horse. They make all kinds of financial commitments and expenses before planning a realistic outcome. You need a business plan on the Internet just as you do in the real world. When you are starting up, don't try to hire an office full of workers, expensive ad budgets, and make promises you can't keep. Start slow and within a budget. Avoid at all costs going to capital venture company to help you launch your site. It really won't take that much money to get started if you keep it on the family level. Only when you get too big will you really need a large staff.
A lot of companies that are now folding are those who promised to pay those who came to their sites. In theory it sounds like a great idea. The company gets sponsors to pay for ads and they split ad revenues with frequent visitors. The problem is many of them did not count of the actual expense of running the business which meant they had to cut into the share promised to the surfer which left some of the visitors unsatisfied and not wanting to come back leading to a vicious circle, less hits to the site, less advertisers, less profits, and expenses still need to be paid. The moral of the story is never make a promise you cannot keep in business.
Forget stock options at the early point of the game! Concentrate on becoming successful before you even consider letting the public at large in on your business. Too many companies on the net are going belly up by doing that.
You can make money on the Internet, but you need to be sensible about what to expect. While the majority of those who surf speak English, there is still a large number out there who speak no English. When people are quoting you how many people are on the Internet, take it with a grain of salt. Some of those you will never reach due to a language barrier unless you can translate.
And as far as the statistics of how many people are going to be on the Internet, don't take it as the holy truth. You must question how they come up with those figures. Most of these are by counting the number of new e-mail addresses which is a bogus count. Many people have more than one account. Some people have a few dozen! They are still only one person.
Then consider that many people are still phobic about buying from strangers on the Internet. While giving your credit card information for a purchase on a truly secure site (look for the yellow lock on the bottom, right corner of your browser) is the safest way to buy, people still won't always do it. Many prefer to send a check or money order since it feels more traditional to mail order. Others want to call an 800 number or talk to a live person to handle the order.
Make sure when you do business you present yourself in the most professional way possible. Show your real name, address, and phone number, fax number, ICQ# or e-mail address where you can be contacted. Give your site relevant, informative and interactive content. Set up your sales pitch according to standard rules of marketing (Keep It Simple Stupid!, Use power words, Break it up with points, Ask for the sale, and direct how to complete the sale.) Most importantly - if you were a complete stranger coming to your site, would you buy from you? Credibility and stability are crucial.
If you follow these rules, you will have a better chance of making money on the Internet.
There is a myth on infomercials that multitudes of people are making a fortune on the web. These commercials say you, too, can be self sufficient or rich by tapping into the Internet.
The fact is there are some people who are making good money and a few people getting rich. Then there are many who barely break even and many more who lose their shirts.
The rules of the business world apply to the rules of doing business on the web. You also have to combine that with a little knowledge of how the web works and how to safely promote yourself. There are very many resources around to help you start your own online business.
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