Why this is the ‘Golden Age’ of Online Business…
‘I truly think this time will go down as the ‘golden age’ of entrepreneurship.
It’s never been easier or cheaper to simply go at it part-time. It just takes a semi-decent idea, a few bucks and an Internet connection to try your hand at making money online.
I may be biased but I think that this is the best business in the world. I just don’t know any other business with such incredible profit potential and such low time and money requirements…and most importantly, one which can be done part-time. I stared with my online business with an idea at 3 o’clock in the morning and an $1,800 investment (I overpaid). Today it brings in millions. I don’t really know too many other businesses you could start on a shoestring with such profit potential.
Fact is, it’s way easier today…
Yes, there’s more competition but there’s also more opportunity. People have become way more comfortable buying and interacting online. It’s no big deal to pop-in your MasterCard and order whatever you want now without wondering if your credit card number will get stolen. Plus, you’ve got tons of simple off-the-shelf tools, people willing to help you (if you avoid the B.S. artists) and models to follow.
With 2008 just around the corner – what are you going to get out and get done? It doesn’t have to be something you make millions off – you can start small and simply “Moonlight Online” like I started. Why not make a couple hundred dollars extra each month and let your online venture pay for your mortgage, car payment or even your passion or hobby.
I truly think everyone has at least one moneymaking online idea in their head.
For me, most of my ideas come in the way of selling information and so many people are totally overlooking the expertise they could be profiting from. Here’s a perfect example when I went to one of my best friend’s John’s wedding a few months ago in Chicago. On the flight over I was sitting next to a stewardess and we started talking a little bit. In the course of 15 minutes she rattled off 5 different ventures that could easily be making her more money than her airline job without flying all over the place.
I was attending the wedding solo because Zoe was only 2 weeks old. Of all topics we started talking about breastfeeding. Ok so I’m definitely not an expert in this topic – but I nodded and asked her questions because Missy was having a bit of a hard time with it. This lady told me all her friends called her for nursing advice and that she had some amazing techniques for producing milk, nursing without pain, etc.
In my mind the light bulb goes off that this is a perfect information product. When a prospect is in pain – you can easily sell them your solution. It would take her no time to record a few conversations with friends and write up a tiny report on what she knows. She could have been selling it online in a few weeks but I know that would never happen. She could even throw up a video on YouTube (PG-rated) and get some great SEO placement pretty quickly to drive traffic. I mentioned all these things to her but she just shrugged it off. Whatever. Maybe the notion of selling online seems to hard to people but there’s not that much to it. When you break it all down there are 3 parts.
Part One – Your Site that sells
Part Two – Having a “product” people want (not need)
Part Three – Getting traffic to your site
(And I guess to get a little more advanced – Part Four – follow-up on customers and opt-ins)
You can get lost in trying a gazillion online strategies that may or may not work – but when you think of the barebones basics – this is all you need.
I mentioned my friend John’s wedding – you can actually see a video of him and his new wife, Lillian. If you watch the video it’s pretty damn funny because Lillian is from Chicago and my friend John is a die-hard Redskins fan. (I was in his wedding and you might hear me laughing in the background.) John and I have been friends for 10+ years and he still doesn’t quite know what I do – but he does want to start his own sideline online business. John parlayed his passion for sports (especially football) and created a pretty cool new site called “SportsFananza”. Check it out.
Here’s how John describes it: SportsFananza is an online networking site for the sports fan’s voice. It is time for us sports fans to have an outlet to voice opinions and ideas to the general manager or owner of our favorite team (or the team you hate) or other fans. You can also share your game day experience with everyone.
John’s making some progress and gained some momentum. I told him originally it might be too hard to get only video content so he added a “Tailgate” section where members can text in their thoughts or do it online. He submitted it to Killerstartups.com and got a lot of people voting it up – I think he’s on page #3 for most-votes for the year. (Actually go ahead and vote it up or even better submit a video or become a member of his site if you’re into sports!)
Will John’s site get bought out by Google for $1.65B like YouTube? I don’t think so! But it’s a good niche with rabid fans and if he can get enough traction it could get picked up for a nice ROI. Who knows? I give him a lot of credit for getting out there and doing something instead of just throwing out ideas like my stewardess seat-mate.
That’s the great thing about the Internet today – for less than a nice steak dinner and a night on the town you could throw up your online venture and see what happens. I mean why not? What’s the worst that happens – you lose a few extra hours of watching “American Idol”? Or maybe you miss a few hours of sleep. Who frickin’ cares? You could be building an asset, or “online oil well” as I call them, that pays you forever. Or it might totally suck and you move on and say “NEXT”! But at least you gave it a go!
Now if you need help getting started – this might be for you…
I just got copies of my first “real” book “Moonlighting on the Internet” published by Entrepreneur Press. I’m really excited to get it out there and help even more people start their online adventure. It was supposed to be available in January (and our site for the book isn’t even ready yet – oops!) but it looks like BN.cm and Amazon.com both are showing inventory in stock. I have no idea if that’s a fluke or if it’s correct. [Update: It is available now]
The book is a nice step-by-step guide on 5 realistic ways to make an extra $500 – $5000+ per month online. I cover information marketing and then I’ve got 4 other big-time experts to share their insights with Sydney Johnston on eBay, Darren Rowse on Blogging, Andy Jenkins on Yahoo! Stores (eCommerce) and Rosalind Gardner on Affiliate marketing. And there are tons of real-world stories of regular people making an extra paycheck online each month. Good stuff and you can’t go wrong for $20 bucks.
Update: Here’s a cool little video from Robert Plank – just one of the 40+ real-world success stories in the book:
Remember it’s that time of the year for holiday gifts too! So if you’re looking for a nice heartfelt holiday gift for the freeloading relative you have to support – get them a copy of my book so they can start pulling their own weight finally. 
December 9th, 2007 at 4:41 pm
Hi Yanik – great post (again!).
I fundamentally agree with your point that there has never been a time like now for people to start a business, however I would caution people to consider a few things…
While “moonlighting” is a great way to get started, and while it only takes “a couple of bucks” to set up a website, etc, the costs can add up quickly, particularly if the business doesn’t take off initially.
Monthly web hosting is only one of the many things that people need to do in order to grow a business and with all the “get rich quick” snake oil salesmen (present company excluded) it is easy for people to spend hundreds or even thousands of dollars and never get a return on their investment.
The major reason for this is because people think that starting an online business means that they don’t have to do business fundamentals such as setting up a business plan, a marketing plan, identifying a need in the market place (I appreciate your distinction between what people “want” and what they “need” – often people buy the first and neglect the second).
The old stat is that up to 85% of new businesses fail in their first 5 years, but with the advent of online commerce and the relative ease of starting up, I actually think that number is closer to 95% failure, since so many people are now starting from their living room “unofficially” and end up stopping after a year or two when their “internet millions” don’t magically show up. These businesses are never officially tracked in the stats.
I like Alex Mandossian’s view that you “turn pro” after earning your first dollar online, but obviously $1 doesn’t cut it for anyone to earn a living. My caution is this:
While it is possible to “get rich quick” online – some people have and continue to do it – the reality is that if you are planning to build a business for long term growth you must go through the same fundamentals as any other business in order to increase your chances of success.
Questions to consider:
1. Is there a market for what you want to sell? Are people looking for it, are there at least “some” competitors out there, proving that it is a viable business, and are the people in that marketplace predisposed to purchasing online?
2. What are your personal goals and timelines for your business? Do you realistically expect to quit your job after 6 months online or, as Yanik suggests, do you want to moonlight, start slow and build a long-term business that maybe only brings you a couple of hundred dollars each month (at first).
3. How are you going to reach your market? There are a thousand and one different marketing “TACTICS” available to reach, persuade and sell to your marketplace. Which of them are most appropriate for you specifically, based on the market, product, etc?
4. What is your definition of success? Do you want to replace your job with a business job? Or do you want to build passive streams of income? Are you trying to be a millionaire or generate additional money for your own personal “play”? How you define success should determine how you approach your business.
Of course, there are more questions to ask, but hopefully these will get your readers started in the right direction.
For a more detailed approach to strategic marketing (uncovering the WHY behind the HOW), please visit my website at http://www.MakeMyMarketingWork.com.
All the best to Yanik and everyone who visits this site for a safe and happy holiday season.
~ Paul
December 9th, 2007 at 4:43 pm
I’ve ordered mine Yanik look forward to reading it, and Did you say I ought
to give it to some one?
No freaking way, I love to discover an old book I have’nt read in a year or two reminds me of those little nuances you often overlook.
Recommend it certainly; give it away; highly unlikely. I might save it for my trip to New Zealand in the new year, if I can wait that long.
December 9th, 2007 at 4:47 pm
Hey Yanik,
Great post! It really gets me pumped up and inspired to get started.
Which is something I have wanted to do for a long time but just never
could figure out where to start or how to start.
I saw your book on Amazon.com the other day. I started to buy but
was not sure about what it was all about.
There is not a “Search Inside” option as there is with some books. Do you
plan on adding it?
I would like to have some more info.
But mostly I just want to know if you go in depth enough that someone
could actually start an info business by reading your book??
If so I am going to order today!!
Hope I get a reply.
Thanks,
Tammy
December 9th, 2007 at 6:15 pm
It’s no fluke, Yanik…I saw it at Borders in Los Angeles yesterday. Don’t tell the bookstore, but I’m ordering online at Amazon instead. Looks great! –Sherm
December 9th, 2007 at 9:37 pm
Great Job,Yanik!
I was planning to write you a small letter passing on my personal Philosophy that there is more money to be made by making the poor rich than by making the rich man richer. In the first place, most rich men are already expert at making money and values your service much less than the one who discovers that he need not struggle in poverty for ever, and that there exist fair and legitimate ways of earning a reasonably comfortable living.Such a person will see you as next to God and give you a genuine feeling of having lived worthily
I am not saying that you should discontinue your high returns Seminars or any such thing.I am only suggesting that a portion of your time could be specifically earmarked for such pursuits that are soul-stirring and yet will definitely give you a different combination of returns.
Thanks for joining my team! (Unorganized, though)
December 9th, 2007 at 11:10 pm
Hey Yanik,
I have already written one reply but I had to come back and tell you. . .
I just saw your book in Entrepreneur Magazine!!
Yes, nice big picture and info about what’s inside!
Also, in your post above, you said you were not for sure if it was a fluke
or if it was correct.
Well, it is correct. Entrepreneur says that it is available at all fine book stores and online booksellers.
Thought you would want to know.
Wow, that’s great Yanik! You have got something going on everywhere.
Massive multipe income streams. Alright!!
Later,
Tammy
December 10th, 2007 at 3:24 pm
Hi Yanik,
This may seem like a strange question but I was wondering if you would be willing to share who your web hosting provider is. I have a great business idea and plan to get my website set up soon but have been trying to find a realiable web host. I’ve had 2 over the past few years and both have just up and closed the hosting and I lost all my files (I didn’t backup my files)! I’d like to avoid the “fly-by-night” providers and go with someone realiable and who can expand my site as it gets bigger ( I plan on being successful!). Any recommendations would be greatly appreciated!
Regards,
Caryn
PS. Your new book is at the TOP of my Christmas list!! I can’t wait to get it!!
December 10th, 2007 at 5:54 pm
Tammy – Yep the book is pretty step-by-step and thorough – I’m really pleased with it. If it was a 3-ring binder – I’d charge $300 for it (at least)
Hopefully the book will be the catalyst for a lot of people who want to get up and going with an online business but don’t want to spend a gazillion dollars on the roadmap.
*
Caryn – I use FastServers.net
You can find many of my recommendations at
http://www.YanikRecommends.com
December 10th, 2007 at 7:17 pm
Thank you Yanik! Much appreciated!
Will check it out!
Happy Holidays!
December 11th, 2007 at 5:19 am
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December 11th, 2007 at 12:19 pm
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Check that out Yanik im sure ull love it.
December 11th, 2007 at 4:46 pm
Yanik –
Great post! I wanted to update you and your readers about the “Internet Marketing Brain in a Box you launched a couple months back (ok, September 25 or so)
I’m on track to have my biggest day, / week / month ever, after receiving your “internet brain in a box” –
Before, my best day was just over $1000. Today, I’m over $3,000.
Before, my best month was about $4500 – This month (1 month after receiving my brain in a box) I’m going to do 15,000. How’s that for results!
I’d really like to cuss a bit and tell you how G*D Damn Happy I am.
My guess is that I’m applying about 5% of what I’ve learned from the DVDs and manuals. As I work through the brain in a box materials again and again, I have no doubt in a few months I’ll reach my next goal of $25k per month.
This stuff works! Thank you very, very much.
David Rachford –
Santa Barbara, CA
http://www.cpamarketingcenter.com
December 13th, 2007 at 4:44 pm
Hi Yanik,
I just got the copy you sent me in the mail today and I greatly appreciate it. Over the years, I have come in contact with a lot of great people and you are certainly one of them. As we have not met personally, I feel like I have known you for several years.
I appreciate the opportunity to be part of your first book and I will keep you up to date on the progress of my “Moonlighting on the Internet” experience.
Yanik, Keep up the great work!
John Clark, http://www.lifetosuccess.com
December 14th, 2007 at 2:05 pm
Robert Plank just posted a youtube video about this … http://www.youtube.com/watch?v=pmoEWlZ76i8
May 17th, 2008 at 9:04 pm
Yanik,
Great book. You are a true pioneer. Have you read “The Sovereign Individual” yet? The world is in a state of flux b/c we are at the cusp of the 4th stage of human civilization. (Hunter/gatherer, Agrarian, Industry, and now information) Yours is the way America will not just survive these hard times but flourish well into the millenium. Working in manufacturing will lead to my being laid off by years end. In the meantime I am working on one of my real passions. I used to be a middle school science teacher before I went corporate for more $$. Parents, teachers, students..look for Rhyme ‘n Learn coming soon to a PC near you!!
-nyc school teacher
December 29th, 2009 at 9:54 am
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