How To Create A 6 Figure Business Online
By
Professor Theodore Henderson
“It is inevitable that some defeat will enter even the most victorious life. The human spirit is never finished when it is defeated…it is finished when it surrenders.”
– Ben Stein
Yes, it is possible to create a 6 figure business primarily or totally online. But, get ready to do the work and put in some sweat to get it done.
In some specific niches, there are new item launches each and every single day. With the “make money online” specific niche, more than one new product is introduced every day. All of the sales materials for these newly introduced products tell you that their training will reveal how to utilize their tactics to be super successful with your new online business. Some will be better than others and need time as well as strategy to work.
We are not stating that these products have no value or do not offer anything worthwhile. A few of them are actually great and will reveal strategies you will not have been aware of. But a lot of these items are the same thing reworked multiple times over, providing no value add. To create a 6 figure business you must create a strategy that is providing value to a distinct niche audience.
3 Steps to Begin Your Journey to Create a 6 Figure Business
#1 Avoid The “Shiny Objects” Syndrome With Your Online Business
The key signal that you may have “shiny objects syndrome” is continually chasing new exciting things to do. Of course, most of this misguided wandering wastes time, energy, and focus, Instead of focusing on the most important work, that can help them achieve their goals, which in this case is to create a 6 figure business.
Shiny objects syndrome (SOS) involves the chasing of new trends, can’t miss opportunities, and “fantastic” ideas without evaluating their benefit first. This causes distraction, a state of overwhelm, unhealthy stress, and a lack of focus leading to missing out on your biggest opportunities in the present moment.
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Here are 3 simple ways to stop shiny objects syndrome from derailing your business goals.
Outlandish Claims
It is hard to believe that many of the wild claims made by these product vendors are enabled in this day and age. Again the generating income or make money online specific niche is most likely the biggest offender with this. Some sales letters and videos declare that you can make a fortune by utilizing their software or whatever. Of course, there is hardly any work for you to do. Don’t believe it. There is work to do with any real business.
Transform your computer into an ATM is a traditional claim that some of these sales pages make. This is total rubbish, of course, but it is surprising the number of people succumb to this more than once. Getting purchaser traffic to your offers in under 60 seconds is another traditional wild claim. If it appears too excellent to be real, then it probably is.
It’s so much Greener over there…
A lot of sales pages for brand-new products in your specific niche are going to inform you that you are doing it all wrong and that your present online company will never ever be as successful as you want it to be. They tell you that you need to join forces with them as the yard is greener over there.
The grass is seldom greener with these programs. There are always different strategies that you can use to improve your online service but what you should not consider is changing it altogether. It doesn’t matter how effective the copywriting is on someone’s sales page. You need to stick to your existing service and deal with methods to increase your profits.
Changing from one online approach to another is something that newcomers to the world of online business are prone to do. They give up on one design or approach extremely fast because they are not getting the outcomes they expect. These individuals are constantly on the lookout for the next shiny object that will change their lives.
You will never have an effective online service if you keep chopping and changing all of the time. Stick with your original plan and see it through. If you have attempted, given your best, and it does not provide the outcomes you want, you can think of a change. Remember, you are in the game to build or create a 6 figure business so expect some challenges.
Curtail your Exposure to Shiny Objects
If you are being exposed to new glossy shiny things regularly, then cut out the source of the glare. Perhaps you belong to an online forum where this is gone over all the time. Either stop utilizing the online forum or avoid the sections that have the glossy shiny things information.
Plenty of people find out about brand-new glossy shiny items through email. Unsubscribe from the lists that simply keep pumping out these offers to you. They are not offering any value and simply jumbling up your inbox. Save space in your mailbox for real tools and strategies that are going to empower you to create a 6 figure business.
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#2 Pick The Right Specific Niche To Create a 6 Figure Business Online
If you don’t select the best specific niche for your online venture, it will most likely stop working or fail. There are thousands of different niches that you can pick from; however, you must inspect that you can construct a successful online business around them.
Plenty of individuals will tell you that you need to follow your passion or wherever your enthusiasm leads you. The key factor for this is that if you are passionate about something, then you are most likely to enjoy establishing your online service and keep working it.
This makes sense, but it is not always the very best guidance. If you are passionate about a niche that very few others have an interest in, then your possibilities of earning money are slim. There could be a lot of interest in your passionate specific niche but is real money being made?
Two Crucial Questions.
To identify whether a niche is a good one for your online business, you must ask two concerns about it:
1. Is there a requirement or demand for what you are thinking of?
2. Is it possible to generate income from the specific niche?
If you choose a niche with shallow need or demand, you will have a hard time right from the start. So you require to inspect if your niche concepts have the needed need. One of the most convenient ways to do this is to check the search volume for the specific niche, use the public library’s free resources, or use a budget-friendly research tool.
You can utilize the complimentary Google Keyword Planner to determine demand levels. All you require is a free Google account. Think of your specific niche’s main keywords– what would individuals type into the search engine if they were looking for info about the specific niche?
When you have actually determined these main keywords, utilize the Google Keyword Planner to inform you of how many searches there are for it every month. You want there to be a few thousand searches at minimum for the primary keywords. The greater the search volume, the better it is.
If there is excellent search volume for your specific niche idea, you must inspect and be certain if people are making money in it. Go to Google and use your primary keywords to browse. Existing advertisements for products or services on the first page of the search engine result? How many?
This is an excellent sign that individuals earn money from the niche if you see lots of advertisements. You can do another test by utilizing the OfferVault.com site to see what deals are offered for your specific niche idea. If there are a variety of offers, then this is another good indication. There are other locations to examine, such as Clickbank.com. But, do your homework as there are both good and bad offerings at both sites. To create a 6 figure business you will need the traffic to your site.
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Go Where the money is.
If your niche concepts do not have a lot of need, demand, or cash-generating prospects, don’t worry yourself. Just go where the money is! There are specific niches that are ensured to have the needed demand and the chance to earn money. Here are three evergreen niches that tick all of the boxes:
1. Wealth development– earning money and so on
2. Health and fitness– weight-loss etc.
3. Personal development– self-improvement, relationships, etc.
The need for these specific niches is never likely to go away. People will always wish to generate more wealth, be much healthier, and improve themselves. These are extremely competitive, but they are terrific niches to be in if you are offering real value and can differentiate. For more on niche marketing see my previous posts Monetize Products With Niche Marketing and The 5 Key Benefits Of Niche Marketing To Your Business.
#3 How To Choose The Correct Online Business Model.
There are several different online company models that you can choose from. You must choose the right model as you will be required to work hard on this every day to achieve success.
Here are a few of the most common online service models:
– Affiliate marketing.
– Cost Per Action (CPA) marketing.
– Amazon FBA.
– Product development.
– Your own online store.
– Dropshipping.
– Dropservicing.
– Self-publishing.
– Freelance services.
You must consider various factors when choosing the best online business model and analyze those in this article. You mustn’t make the wrong choice here as this will be a significant barrier to your success. All of these business models given the right approach are capable of being part of your effort to create a 6 figure business. So do your homework and pick the right one or two areas to start your business.
Do you have Cash to invest?
Do you have a few hundred or a couple of thousand dollars to purchase your new online service? If you don’t, then you can ignore establishing your own online store or Amazon FBA. Unless you are prepared to do all of the work developing your own product, this is probably not a great choice.
Whatever online service design you select, you will require a small amount of money to spend for a domain name, web hosting, and an autoresponder service for email marketing. Take a solid look at your spending plan to see what funds you can assign to your online organization.
You might borrow money to begin your online business; however, this is most likely not a great concept. It can take some time for you to see profits, and in the interim, you will have to make debt payments. You are the only one who can choose if borrowing cash is a good idea or not. However, keep in mind to create a 6 figure business there will need to be some investment.
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Just how much time do you have?
All of the online services or business models will need your time. However, some of the models can be effective with less time than others. For instance, it is fairly simple, to begin with affiliate marketing. If you are short on time, then you can utilize paid traffic sources to generate targeted traffic to your deals.
If you have a full-time profession or job that is currently footing the bill, then we highly recommend that you stick to this till the earnings from your online company overtake the pay you receive from your task. Do not put yourself under unneeded pressure.
What Abilities and Skills do you have?
Do you have abilities that you can offer at a high rate by offering freelance services? Do you have a skill that you can develop into a high-need item? Perform a skills and abilities assessment to see what you can provide and identify your skills’ demand before deciding. If you aren’t sure where to start see Fiverr as they help with setup and learning for freelancers and independent contractors.
If you are a good writer or copywriter, you can make a lot of money selling your services. Keep in mind that you will be selling your time for cash, which can be hard if you have a full-time job.
Creating a training package around an in-demand ability that you have could be really lucrative. You can record training videos and other resources to create a powerful bundle. Maybe you are an expert in a specific niche and can begin a blog about this and develop a YouTube channel. You can sell your own items or recommend high-quality affiliate products. I hope you are beginning to see how you can create a 6 figure business and make it work. So what are you waiting for? Get moving and see the next post in this series.
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About The Author
Professor Theodore Henderson works with business owners, entrepreneurs, and corporate professionals on their business skills, marketing, and leadership strategies. He is an Amazon best-selling author, a Certified Career Coach, Business Skills & Leadership Coach, and a Certified Social Media Security Professional Powered by CompTIA.
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