Is It Still Possible To Make Money On The Internet?

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Is It Still Possible To Make Money On The Internet?

By: Larry Lim

Many people are saying that the internet is dead. So is there still money to be made on the Internet?

The answer is a definite YES.

Research shows, time and again, that consumers want to spend more online, and that the internet is fast becoming an integral part of their lifestyle and it'll continue to be so. Internet consumers are cautious and they want sites that are credible and worth shopping before they part with their money.

The traditional brick-and-mortar rules of business still apply to internet business. It's prudent to remember that the internet is not your business goal; it's a medium in helping you achieve your business goals.

Adhere to my following Rules and you'll be on your way to building a viable, sustainable and successful internet business.

1. Develop a viable business plan

The biggest reason why so many dotcoms failed is an inadequate business plan of how and when they will achieve profitability. To have a successful and sustainable internet business, developing a viable business plan from the outset is crucial.

Your plan must have a clear and sincere vision that has meaning to you and your business. Your main focus should be to 'plan to profit within a set period of time and this would require you to allow time for thoughtful researching, planning, execution and testing. You'll need to test out your business model first and ensure that it's viable and sustainable.

Don't make the same mistakes that many dotcoms made - trying to build a global brand before their business model even worked as it'll lead you into receivership faster.

Regardless of how fanciful and good your website is, if your aim is not to make profit, you'll go out of business.

2. Model someone successful

It's always wise to learn from the mistakes of other people rather than to learn from your own mistakes as this can sometimes be very costly and painful.

Track and learn from benchmarked success stories, be they your competitors or otherwise. Why would you want to spend time re-inventing the wheel when you can learn from those who have already been there and done it successfully. Learn how they design their website, create products, write salescopy, their sales process, etc.

3. Focus on a niche market

Don't be everything to everybody by trying to dominate a huge and general market because you just simply can't do it effectively.

Focus your internet business on a targetable portion of the market or a narrowly defined group of potential customers. Address the need for a product or service that's not being addressed by mainstream providers. The advantage of this is that it's less competitive in such a market as large businesses won't want to be in it.

For this to be effective, the market niche that you're targeting must be fast moving, its customers accessible and there must'nt already be a dominant player in that particular market niche.

The key here is to find a niche market, assess the needs of the market and then offer them your products and/or services that meet their needs.

4. Differentiate your business

To capture a larger market share and be viable, sustainable and profitable, you need to differentiate or distinguish your business from your competitors; make your business special in the eyes of your customers and/or prospects.

You can do this by creating what's called a Unique Selling Propostion or USP and then effectively convey that USP to your target market via your marketing efforts and business performance.

This's particularly crucial if you're operating in a highly competitive market.

A USP is the one thing or idea that sets your business favourably apart from your competitors. Think about these questions: "What's the one thing that makes your business unique and distinct? Why should people buy from you and not from your competitors? Do you promise great value, benefit or service?"

Your USP is the focal point around which the success and profitability of your business is built and so you must be able to state it and fulfill it honourably and effectively.

5. Spent your funds wisely

Costs is one of the major determinant of your internet business's survivability. You'll need to carefully track and control your costs from the outset and make sure you can start to show a profit soon, as unmindful spending with no thought given to incoming resources will bleed you to death.

Credible websites not only require money to set up but also to maintain; advertisement costs money. Driving traffic to your website where you lose money on sales made is suicidal. Do your sums; consistently refer back to your vision to ascertain whether an expense is warranted or meaningful.

6. Superior customer service

In addition to a viable business plan, a superior customer service will be key to your success.

Superior customer service must be a high priority in your action plan. Build a trusting and long lasting relationship with your customers and prospects, send your staff for customer service training, fulfill your orders promptly, and constantly remind yourself the reason of your very existence.

This is crucial as it costs five times more to win a new customer than it costs to keep an existing customer. Moreover, a dissatisfied customer will tell, on average, five or six people about your bad service. The point I'm driving at here is that looking after your customers saves money and boosts profits.

Learn and apply what I teach you, do it right, and you'll rise above your competition and blow them out of the water in no time.

About The Author

Larry Lim is a practising marketing strategist and tactician who dishes out effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.

Check out his website - http://www.marketingsphere.com - that is jam-packed with secret marketing information that will skyrocket your sales, and shoot your profits through the roof.

Comments

Rajiv 13.06.2010. 14:02

Is it possible to make money by internet?by not investesting any money i make 1000-2000rs daily? Is it possible to make money by internet?
i show lot of website, mostly misguide us so plz suggest me true site i am from india haryana
i dont have any experience or any verified or university degree till now.

Rajiv

Admin 13.06.2010. 14:02

Sorry, you are misguided. Don't get into trouble after going behind so called money minting websites.

Be careful.

Admin

ROHIT 16.06.2010. 09:07

Is it possible to make money by internet?by not investesting any money i make 1000-2000rs daily? Is it possible to make money by internet?by not investesting any money i make 1000-2000rs daily?
Is it possible to make money by internet?
i seen lot of website, mostly misguide us so plz suggest me true site i am from india haryana
i dont have any experience or any verified or university degree till now.

ROHIT

Admin 16.06.2010. 09:07

If you have absolutely NOTHING to do then yes there are some sites out there that give you prizes* for filling out surveys online. Be warned however that many of these sites have fake testimonies and are filling with trojan horses and other malicious adware. My advise to you is to try to find a part-time job if you need money. It will generate 10x the amount of money you would make otherwise filling out surveys.

Admin

Rajiv 16.06.2010. 09:07

Is it possible to make money by internet?by not investesting any money i make 1000-2000rs daily? Is it possible to make money by internet?by not investesting any money i make 1000-2000rs daily?
Is it possible to make money by internet?
i show lot of website, mostly misguide us so plz suggest me true site i am from india haryana
i dont have any experience or any verified or university degree till now.

Rajiv

Admin 16.06.2010. 09:07

probably if you are super hot model! you could sell yourself to a private webcam activity of THAT sort to the highest bidder... good luck

Admin

ricky 23.03.2010. 19:43

How can i earn money in internet? Is there is any possible way to earn money from internet. If any, please tell me that or tell such websites

ricky

Admin 23.03.2010. 19:43

buy cheap stuff and sell it on ebay for more money. Good and easy way to make money.

Admin

faruq_mail 23.07.2006. 08:18

is this possible to earn money from bangladesh using internet? I want to earn money using internet work. I know graphics design, web design web languages like asp.net, php with database support. data entry is also an area of interest. but the real problem is that i am living at bangladesh. is this possible to earn money by internet work?

faruq_mail

Admin 23.07.2006. 08:18

Best, legal and safe way to earn on internet is by joining paid survey sites. Paid survey sites pay you for your opinion on various topics.
Don?t pay for any survey program to join. There are many free to join paid survey like survey savvy they pay more then 5 $ per survey. Always check for on which site you are registering is BBB (Better Business Bureaus) certified.
Global Test Market
http://globaltestmarket.com/join.php?lan...
American Consumer Opinion
http://www.shareasale.com/r.cfm?B=18123&U=149647&M=4998
Survey Savvy
http://www.surveysavvy.com/ss/ss_index.p...
OpinionSquare
http://www.kqzyfj.com/click-1952702-10386577
Permission Research
http://www.tkqlhce.com/click-1952702-10386942
onlineglobalrecruiting
https://www.onlineglobalrecruiting.com/register_htm.asp?refid=infoshine
Greenfield Online Surveys
http://gozing.directtrack.com/sw/1354/CD5333/
Opinion Surveys
http://gozing.directtrack.com/sw/2160/CD5333/
spiderMetrix.com
http://www.spidermetrix.com/sm120.php3?r...
SendMoreInfo.com
http://www.sendmoreinfo.com/3043150/3043...
Morvo.net
http://www.morvo.net/8621324

You can check the website http://www.dollarmantra.com for more free survey list, affiliate programs and contextual ad program, get paid for reading email & surfing the web and more earning recourses.

Admin

Quanta 26.07.2013. 01:24

Is it possible to transfer money to State Bank of India form my Unicredit account in Italy, using netbanking ? I have a Unicredit bank account in Italy, I wanted to transfer money to my home account in India.. that is State Bank of India, is it possible to transfer money using my internet banking ?

Please help.

Quanta

wealth creator 26.03.2008. 16:04

please give me some legitimate Indian sites were i can earn money? If someone can genuinely tell me that whether it is possible to earn money on internet? Only one from India, with personel experience should be able to tell me? let us help each other and the world will be a better place to live... wish you all a happy life!

wealth creator

Admin 26.03.2008. 16:04

My friend, there is no such site where u can earn money from. Stay away from this, or if you fell into the trap, u will be loooted.

Admin

queen b 29.12.2012. 01:37

Can i get internet without having cable or phone? I pretty much have become uninterested in watching TV (nothing but reality shows) and I really feel its unessesary to have a home phone when I have a cell. Especially because its just me and my daughter in the home (she's 5 and would rather be active and play outside than watch TV. Though she does have movies to watch when she wants to) Anyways we just moved into our new place and I really would like to get just internet installed. Is that possible? Money is tight these days and I don't want to pay a bill on something I don't use or need.

queen b

devotionalservice 27.10.2006. 16:09

What are some really easy ways to make money over the internet? I'm looking for the easiest possible ways to make money over the internet.
I'm looking for sites like this one here.

http://www.mylot.com/?ref=dharma

devotionalservice

Admin 27.10.2006. 16:09

Hello there you can make money today just go to http://www.geocities.com/jon_smith391/ and applay for google ad program just chilck on the link and sign up and start getting money today and if you want any information please e-mail me

Admin

hoover_jeremy 23.11.2007. 18:30

Can money really still be made selling items on ebay? I'm single and have time to dedicate. Can i truely make money selling things i have collected(pack rat) over the years? I have bad credit, but have a credit card. I have things to sell and people who will confide in me to sell their things for them. I'm good at selling, but the internet is another story. I truely want this dream to come true but honestly, is this reality a possible money making tool for me? I want only true experience answers and lots of concrete details. Educate me to the fullest. Thanks.

hoover_jeremy

Admin 23.11.2007. 18:30

I've done ok there

Admin

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