Starting a serious Internet business for early retirement requires a business mindset and before I discuss the five pillars for success I would like to briefly identify five reasons for internet business failures.
Five reasons for internet business failures
People think that the Internet will make them money (and lots of it fast)
People think it requires no effort or experience on their part to be successful
People do not invest the time and the money to build an internet business
People do not think like entrepreneurs when starting their internet business
People give up too soon. (Never give up!!!!)
Don’t forget the reasons above because you will be constantly challenged by them if you decide to start your own internet business so you can retire early. Dismiss them and build the following 5 pillars to build your successful early retirement business.
Five pillars to support a solid internet business for Early Retirement
- Invest in your early retirement business
- Invest in yourself
- Learn Internet Marketing
- Develop a business model for your internet business
- Implement strategy to draw traffic (customers) to your business site
The reason I will focus on the five areas above is because I believe these are the areas that are critical to building your own early retirement business. Let's get started.
First, you have to understand one important thing, you have to invest in your online business. Remember this is a business not a hobby. You have competition out there and you must invest the time and money to be successful. If you don't make the investment your competition will and they will take your customers once they see the niche has profit potential.
Second, you have to invest in yourself. Remember, for most of us entrepreneurial skills have not been a part of our tool bag. It is essential that we develop these skills to run an online internet business.
Third, we have to understand internet marketing and selling to pick successful product(s) or service(s) to market or sell. Because bottom-line, your business is not going to make a dime if your customer doesn't buy or your competitor gets to him first.
Fourth, once your customer buys from you, you have to have an online business model which will continue to draw new customers to your business and sell to your existing customers over and over again.
Fifth, having an internet business is not like having a store front in your home town or mall. You and only you are responsible for getting customers to your online store front. Unlike the mall where people are passing by, people will not come to your online store without you drawing them to your site.
Sound complicated and confusing? It doesn't have to be. But make no mistake about it, you will get out of your business what you put it into it. The good news is the same internet that you are going to make money from is the same resource that will help you be successful in developing your early retirement internet business and that is where I can add value. I will show you the places to look to develop and grow your business.
There are lots of resources that are free or at modest cost while there are other resources which are worth the additional investment in your business to help you be successful. Know where to get these resources and invest the money and time in your internet business and you will looking back on this day as a day you started your new online venture on the internet. For more information go to Retirement and Your Internet Business.
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