Softnik Technologies - Business Strategy Software

Business Strategy Software

 
 
 

July 5, 2008

Chasing Quick Money On The Internet


We get about 3-4 emails a week from people who want to know how our software can help him or her make money. 

Typically the person wants to know how he can make make $MMMM in the next ‘N’ days using our software…

Get Rich Schemes

Click Here To Make Money?

Unfortunately, our software products do not have a button called "click here to make money"!

The reason for these emails is not hard to find. The Internet is full of sites promising quick money for a few hours of work each week. Many of them sell the "simple N step formula" (or whatever) to make you rich beyond your dreams in a few days!  All you need to do is buy the 78 page PDF ebook for $19.95!

Yes, it is possible to start and run a highly successful on-line business. But the sad truth is that majority of the people who try after reading these ebooks fail. This of course, makes it easy for the ebook sellers to sell even more PDF files!

If you want quick money right now…

  • Find a job or if you already have one, find an extra part time job.
  • Find something you can quickly sell (using eBay is also an option).
  • Make a list of things you are good at. Offer your expertise to some one in your local area who may need it.
  • If you have been frequenting any on-line forums, offer your expertise to the members of the forum. Do this carefully and only if the forum allows it. Many forums have an area where members can barter services.

On the other hand,

If you want to start an on-line business, do it for the long haul!

  • Learn the basics – about the Internet, about websites, ecommerce and other related stuff. Do it even if you are not a techie. You don’t have to be an expert. All you need are the basics. It will come in handy very often.
  • Decide on your product or service based on your core competence and abilities. Many "ebook experts" will advise you to pick your website subject based on niche keyword analysis and other "quick" step formulas. Don’t. Treat it as a proper business from the start and use your own observations, common sense and knowledge to decide what it should be about.  See "Internet Keyword Research – Are you putting the cart before the horse?"
  • There are a number of ways to make money on-line. These range from selling a product or service directly, suggesting other people’s products and getting a commission (affiliate programs) or putting up advertisements on your web page and getting paid when people click on the advertisements.
  • Use the web to learn more about the fields that interest you. Study the existing products and analyze the competition. You can even run trial advertisement campaigns on Google to study the market.
  • Avoid any product or service that depends too much on a third party. There is nothing wrong about earning from Google AdSense, but don’t make it your only source of income. See How Vulnerable Is Your Internet Business?
  • Do not jump into things you know nothing about unless you are a quick learner and can handle surprises. Some  people will advise you to sell software products after getting it developed at sites like Rentacoder. Again, nothing wrong with it, but don’t expect to get high quality software for $100! Most often, the support requirements will sink your software business in no time.
  • Register a good domain name and create a website. Learn to manage the website yourself or hire some one to do it.
  • There are ways to get that initial traffic to your website. Work on it and make your site grow.
  • Constantly tweak and improve your products and services.


Filed under: General Business Strategy,Internet Strategy — admin @ 10:33 pm