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Article :
Your Web Business - Fun or
Profit?
Article :
Your Web Business - Fun or
Profit?
By Paul Barrs
There are a series of interesting questions that arise around how
much time and effort you should put into the web side of your
business.
Things like: 'How much time should I invest?", "How
much do I need to understand?", "When is enough money
enough - will I ever start making money?"
To be able to answer these questions you need to first discover
your exact reasons for having a website - in it's simplest form -
is it for fun or for profit?
Let me explain…
Each week I invest between 15 - 20 hours reading and researching
what's happing in the Online Marketing world. Here I make a
difference between what other businesses have as a web presence
and what they are actually doing Online. 80% of that time is pure
research following up on what other web-marketers are doing, and
the kind of results that they are achieving. For me that's fun.
Why so much time? Because it's my business (or at least part of
it).
In total I run five different businesses, three of which are
entirely online and generate no source of income other than that
which is ordered, processed and transacted online (pure
e-commerce). However, the other two offline businesses are also
supported by websites and focus on teaching other business people
how to market their products and services Online. Even more
interesting is the fact that I only have one product - these five
different businesses all sell the same product to different
demographic marketplaces in slightly different formats. This is
my profit.
And so, this is the reason why I spend so much time in research
and development. But what about you?
As an overall percentage of gross income, what portion is
produced by your website (or to a greater extend, what are it's
possibilities)?
Look at the diversity in marketing strategies that are utilised
offline: Paid advertising (yellow pages / trade mags /
directories etc…); Flyers, brochures, mail outs; how about
networking and partnership building.
Each of these produce results through phone calls and sales. It
is exactly the same Online. Whether you are into this
"Internet marketing" thing or not, you need to at least
understand enough to be able to make it both fun and profitable.
In the Online world, you can also participate in paid advertising
through paid search engine inclusion, directory placements, pay
per click advertising, ezine advertising. You can also invest in
mail outs through your own and other eNewsletters - and such
relationships are built through partnerships and networking.
If your web business appears to be nothing more than a chore at
the moment, invest the time to understand the correct online
marketing principles that will produce results - then, you will
begin to see the profit (where your website generates more income
that it cost to set up and run).
When that happens you can then enjoy the profit - which makes the
whole exercise "fun".
That is after all, why you're in business, right?
With understanding and knowledge comes power. This power is the
power to take action based on informed decisions. Those actions
are the catalyst towards momentum and increased cash flow. That
cash flow is directly related to your lifestyle and retirement
(unless of course you want to work 24/7 and die in your office.)
It is my understanding that no one man or woman ever lay on their
deathbed and wished to have spent more time working to create
greater wealth. Wouldn't you agree?
You web business can return both fun and profit. The question is,
does it? And if it doesn't - what are you going to do about it?
Paul Barrs
======================================= Paul Barrs is the creator of
"The Complete Guide to
Home Business Success",
as well as being a professional speaker, trainer and presenter.
He would like to offer you a free subscription to his "Home
Business Gold Online Audio e-Magazine" where each week
you'll receive a free audio seminar delivered to your in-box. To
get your subscription, go now to
http://www.paulbarrs.com/ today.
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