Don’t Go Broke Trying to Build an Online Business

Trying to Buy Success

How often are you purchasing ebooks, strategy guides and software to build you IM business? Are you spending cash hand over fist in pursuit of an ideal approach to implement your business idea? Do you find yourself hitting the BUY NOW button day after day, believing that you’re about to find the missing link in your moneymaking chain?

If you’re spending a fortune on your business, you’re not the only one. Far too many Internet marketers are doing the exact same thing.

Those spending habits have a logical appeal. It makes perfect sense to purchase new information and products to keep your business rolling right along. Investing in new materials to stay on top of a quickly developing industry is reasonable. Spending that money when you’re struggling is a different story.

There’s a big difference between the person who’s staying on the cutting edge of new developments and the person who’s spending like a madman in hopes of finding a magical solution that will turn things around.

You want to be the smart investor. You want to avoid being the serial buyer whose efforts only add to his or her debt.

Making Smart Purchases

So, how do you avoid becoming the wrong kind of serial buyer? It starts by building a rock-solid foundation. If you look at the core of Internet marketing, it’s really rather simple.

You must have a product you can sell. You need a way to sell it. You need a way to generate traffic to the site from which you’re making that sales pitch.

That’s really all there is to it. All of what you do needs to relate directly to one or more of those core basics.

That means that you should start by building a solid foundation on all three fronts. Anything you buy as you’re building your business needs to address the construction of that foundation.

Before you start reaching for details, tweaks, adjustments and tricks, you need to develop your core means of making online money. You can start experiencing real IM success after that foundation is in place. Then, you can pay for those new products with house money instead of digging a hole for yourself.

Building a Smart Foundation

You can start building that money making foundation without going broke in the process. This is what you need to do.

  • Develop a holistic understanding of Internet marketing. You need to hear, straight from the proverbial horse’s mouth, how things fit together and what really works.
  • Focus a great deal of effort on traffic generation. Traffic is one of the three core needs mentioned above. It’s probably the most important of those three elements. Until you have adequate traffic, you won’t be able to find out if your products are attractive or if your copy is converting. You need to get people to your site as soon as possible.
  • Find a source of ongoing assistance. A good ebook can be helpful. Instructional videos can really help. However, you’ll find more value in cultivating a good relationship with an experienced, successful IMer. Good mentoring increases efficiency, makes it easier for you to build a foundation, and allows you to avoid common mistakes.
  • Minimize your exposure. You want to meet your objectives without risking significant losses. Find opportunities to get the essentials at bargain prices. Find a small business coaching opportunity that doesn’t require a fat up-front commitment and that doesn’t lock you into a multi-month contract.

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