How-To Lay a Good Foundation for Success When Starting an Online Business

There are a few ingredients to a successful online business and they are; a solid product in a low competition niche, preferably a pigeon-hole niche that spends money. Either deep pockets or an extensive and current Internet marketing knowledge-base, in most cases both. You’ll also need systems to automate at least 75% the sales, delivery and follow up to your customers.

Or successfully join an existing Internet based business, learn the ropes hone your skill-set and either retire on the residuals or chase your dream. Let’s take a look at our options shall we…

95% of all home-based businesses usually found in network marketing are structured in the form of either direct sales or multi level sales (MLM). While they have many similarities, the primary difference is the compensation model. I prefer the direct sales model, because it's MUCH easier to replace a full-time or six-figure income when compared with anything else out there. This is outlined in the Coffeehouse Letter which you can read here  —> Coffee House Letter

****** Is it really possible to build a residual income of $50K a MONTH in less than 12 months of starting your business? The answer is YES, BUT!

1. MISSION: Others success first, ALWAYS! – If you are only in this for yourself, you will NEVER be successful long term.  You will simply leave a trail of destruction and your "sins will find you out!"

2. INDUSTRY: Network marketing hands down.

3. COMPENSATION PLAN: Direct Sales BUT, only if it has a residual income-based compensation plan. Stay away from 2 ups; you could build a huge team, BUT have ZERO residual income.

4. PRODUCTS: Make sure that they are uniquely in demand, and are being sold as legitimate stand-alone products; products that would sell themselves if on a shelf in a store, etc. Most network marketing and direct sales companies out there are built around the compensation plan and NOT a stand-alone product. If what you are marketing is NOT a stand-alone product, you will have a hard time building residual income and a stable business; as most people will not be able to duplicate what you are doing and your attrition will be huge. One way to tell if the products are viable is to see what percentage of the products is being sold retail. If people are only buying the products to be able to turn around and sell them to other recruits, BEWARE! This is so crucial. Besides, who doesn't want to be proud of what they're selling. There are enough legitimate companies marketing legitimate products out there. Find one that feels right for you!

5. MENTOR: Find a mentor. Someone you can trust; someone who has a system. Someone who has already achieved the results you are looking for. This has to be someone who is willing to listen to your needs, and actually cares about your success. He/she must also have a financial interest in your success. Make sure they get paid EVERY TIME you do, people of value don't work for free.

6. MARKETING: Find an Attraction Marketing system that does 90% of the work for you, sorting, selling, training, etc.  This system must not only attract the right type of person (entrepreneur vs. get rich quick person) but also be able to present the information in such a way that is clear, concise, to the point, and not full of hype, fluff, or crazy promises. Then figure out how to get 100-200 QUALITY targeted prospects into your marketing pipeline EACH week.

7. TRAINING: One on one and group training designed to dramatically shorten new consultants’ learning curves, and reduce the number of variables that come with "trial and error". Find a system designed to "share" the knowledge and experience with EVERY member through regular trainings.

8. SUPPORT: Unparalleled support is mandatory.  Look for a company with an accessible support structure already in place. Seek out the leaders behind your company and assess their strength and caliber. ….

9. DUPLICATION, DUPLICATION, DUPLICATION: If you get ALL of the above right, you should have a nicely tuned marketing system. As long as you make YOUR MISSION TO HELP OTHERS, you will have no shortage of people joining your team. Remember there are MILLIONS of people looking for someone to trust. Be sure to take this responsibility seriously, and make sure your team is duplicating.