Everybody dream of running an internet business. Also known as the online business, it gives an impression that all online entrepreneurs work on a beach sucking their favorite Pina Colada while working on their laptops. How about having your favorite brunette or blonde by your side while you wait for customers to buy into your affiliate links every 10-15 minutes?
Dream on my friend…
Nothing ever happens until you have garnered significant traffic into your website. Prior to 2010, life was much easier. You guys who had not been there, the past was you just need to buy a keyword rich domain name. Add a spatter of 10 to 20 blog post of about 500 to 600 words and buy some backlinks from some of the more reputable blog registries. In a matter of a few months, you would see a jump in your ‘minisite’s traffic. Put google Adsense and voila! You can start sucking on a glass of Pina Colada. It was not uncommon in those days for internet entrepreneurs to own a series of minisites and the income from these could easily support a luxurious lifestyle.
I have an online entrepreneur friend who did just this. He owned a series of blogs in the diet niche, and basically, these sites easily made $ 30K to $ 40K each month. Indeed, this was a dream life for anyone who aspired to be in the internet business.
2. Don’t Quit Your Day Job Yet
Of course, the reason we are building our online business is to get out of the grind. But bear in mind, you need to figure out a lot of things while you build your business. What makes your audience tick? To be honest, we don’t know when our internet “store” will start raking in the dough for us.
On the other side of the coin, please go ahead and get out of a toxic workplace if you are experiencing extreme duress. You have created a new option for your family and that warrants a kind of comfort. Come on, you are way better than many employees who are stuck in a dead-end job without any alternative to a new life. You have! But do some freelance if you have to. Show that you are a responsible person to your spouse and children. Their future is not in any way jeopardized because of your new venture. This advice is meant for us who build our website as a solo business without external funding.
3. Identify Your Stress and Ditch Them
Ask yourself, what is your goal for your new internet startup? If your goal is to make money as soon as possible, how much resources are you prepared to inject into the project? To scale big, you need publicity, content writers, inventories and logistic (if you are into e-commerce) and all require a hefty investment. All these for the purpose of gaining the necessary traction. Then comes the question, are you willing to sacrifice your emotional well being to achieve what you yearn?
Reality is if you have a very good idea for your online business, you might find investors who are interested. Once taken these funds, you are committed to answering to the investors. In other words, this new panel of investors become your new “boss”. Now, wait a minute! The whole purpose of building this website is to get yourself out of the rat race for good, and here you are returning back to the system.
Take the stress out if you don’t like this. There is nothing wrong being a solopreneur. A bootstrap startup without the need to open up to external investors is real and kicking arse as we speak.
4. Bad Things Happen To Good People
While blogging on this topic yesterday, I updated to the latest WordPress Version 5. Guess what? After coming back to my blog two hours later, I realized that this site had purged out about half of my writeups for this post. Half of my day’s work gone because of a silly glitch. I hate that cunt called Gutenberg editing. It nearly messes up my whole website! Now and again, things could have been worse.
Websites and blogs that had seen the rise of Google Panda and Google Penguin, know about one of the worst things that could happen to an internet business. In early 2012, millions of blogs that were once leaders in their respective keywords disappeared from the Big G overnight. Talking about blog crisis! Bloggers, who were earning thousands and sites that were raking in millions saw their revenues spiraled down by 80% to 90% within a week.
What I am trying to say is that things can go haywire to your website, just like the brick and mortar business. Hackers, spamware, malware prowl the internet just like lions prowling the Savannah. I mean these are criminals. Know that if you are purely relying just on this one website for your livelihood, you will go crazy if something bad happens to it.
5. You Can’t Stop Creating Good Contents
Do you know what good comes out from Google Panda and Google Penguin? Websites have to continue adding contents without end. The days whereby you can just leave your blog in auto-mode once it reached the top of SERP rank is over for good.
Content is king. Imagine a retail store. The owner had put up the best architecture and renovation for the building. Not only that, he had the best trained retail staffs to welcome the customers into his store. Unfortunately, he slacked in shelf display with insufficient merchandise to attract his customers. The customers came to look around and left. In online term, when the audience came to your site and leave immediately, the word “bounce” came into the picture. When you study the analytics that you installed in your site, you monitor the bounce rate. If the bounce rate is 100%, it means that there isn’t enough depth in your content to pull in your audience, thus they “bounce” immediately.
The blog(this is a link) owner for instance, needs to research and add attractive contents to pull in the audience. Your goal is to create great contents that kill the bounce rate. When the website has a low bounce rate, we then talk about engagement. Search engines will gradually reward websites with low bounce rate in good SERP (Search Engine Result Page) ranking, thus making your site visible to the mass. Mind you, that takes a lot of scrutiny by Google.
6. Find A Support Group
Building a business is an arduous game. I’m talking of both online and offline business. Guess what? I am building both at the same time! In God’s Grace, He has blessed me with a working model in my ingredients trading. Therefore, my financial well being is covered.
Building a business from scratch is extremely challenging to our well being. Hence, try not to do it alone. Even at this point, I would only dare to expand my business if God sends me a right partner. There is only so much work I can do myself. A liar will tell you that you could set up a system to run your startup. You don’t delegate your responsibility away from any your new business venture.
A good support group is not so much about financial provision. I see this group of people have skills that compliment the founder. For my website, I might need to find people who know social media marketing, AdWord marketing or affiliate marketing. For my offline business, maybe people who are well versed in export sales?
7. Passive Income Is A Myth
Are you shocked if I tell you that there ain’t such thing as a passive income? Somebody must be there to oversee every internet marketing activity that promotes your web-business. Try leaving your Adword marketing to a novice, you might go broke just from the wrong keywords bidding.
Every blogger used to talk about running a passive income website before Google hit the SERP ranking hard during the Panda and the Penguin. Who would have guessed? Try asking John Chow and famous domainer Shane Cultra whether they still advise new internet entrepreneur to treat the business as a passive income generator.
To all my fellow internet entrepreneur, your challenges and fears are real. However, approach everything that comes to you with positive perception and if you know God, ask Him in His Grace in Jesus Christ to be with us in this journey.
God bless you and Merry Christmas.