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How To Build A Million Dollar Online Business

Posted on : 04-03-2013 | By : stargaterich | In : Internet_Marketing

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Most people think it is impossible to build a million dollar online business. Some think it is a fad or unrealistic goal to achieve.

Many assumed those who professed being able to do so are either deceiving themselves, day dreaming or false claims by fraudster selling pipe dreams to Internet marketing wannabes.

Even though eighty percent of most online business hardly make a dime  at all or hardly break even in terms of revenue, those who actually succeed continue do continue to  thrive and generate massive income.

Is it possible to establish a multi million dollar online business within a short time span, say two years or less? I guess the more pertinent question is not so much of whether one could realistically earn a million dollar in the Internet but more on whether one has the million dollar mindset.

Rich Schefren, known as the Guru of Gurus of Internet Marketing has the answer right below. Check it out..

Here are some key pointers that will bring you closer in building a successful million dollar recurring passive online income.  They are :

Think Big But Start Small

It is always good to aim high, be overboard so to speak in terms of setting big goals.As the saying goes, a journey of a thousand mile starts with the first step so likewise, think big but start by breaking up big goals into realistic measurable achievable intermediate milestone checkpoints.

You can’t improve on what you can’t measure so make sure you develop intermediate or short term goals with metric that you can gauge to monitor the progress of your efforts and plans.  Set quarterly or even monthly or weekly objectives that you know you can achieve if you put your heart, mind and soul into it .

For instance, you might have a short term goal of generating quality leads of say up to 200 sign ups to your news letter and etc. Don’t try to set any goal that is too ambitious and too difficult to achieve such as making a million bucks in a day.

You set up yourself up for failure if you start with a big target that you cannot achieve. This is the case regardless of online or offline business.

Capitalize On Key Strength

Short cut your route to success by capitalizing on your key strength,  leverage your expertise and outsource activities you are not good at or familiar with to third parties who are better at it . Focus more of your time and efforts on the business rather then  in the business so to speak.

Many people make the mistake of worrying and working too much on the technical details instead of the marketing and business aspect of the product or service.

Be Passionate And Determine To Succeed

Everything starts with the mindset and it ends with it too.  In other words it starts with the mind and ends with the mind. Thus you must have the right mindset, the desire, drive and the passion to succeed in what you set out to do.  If you treat your online business as a hobby than you will never be able to earn six figure full time monthly income period.

Get A Good Mentor Or A Coach To Accelerate Your Success

Most novice Internet marketers failed and give up as quickly as they jump on board making money online opportunity simply  not because they lack the necessary knowledge and expertise.

On the contrary, most don’t make it pass two years  because they are overloaded with too much information and they don’t know where to begin or they start on the wrong track.

How To Deal With Information Overload.

Accelerate Your Internet Business Success With A Good Mentor

 

The best way to accelerate your path to online business success is by learning from those who’s being there, done that so to speak.  Don’t try to reinvent the wheel so to speak. Get a good mentor or a coach for advice and guidance.

You need to change the course and take action to make good money. A good coach and mentor can provide the critical factors to jump start your path to financial freedom.

Now here’s an important kicker, a lot of people ask the question ‘what’ instead of ‘why’ when they don’t do well in business. They move from one product or tactic to another when they don’t see the money rolling in.

Take Massive Imperfect Action

Some people never make it pass the first step because they feel they need more time to be the expert or they need more time to create the perfect product or service before they take it to the market .  This is a big mistake which you need to avoid.

Mario Brown coined the term ‘take massive imperfect action’ to advice marketers to bring their product or service into the market once it does what it is supposed to do instead of trying to deliver a perfect solution. You need to take action, to sell something in order to make money online.

You may feel you do not have be the ideal product  when you launch to the market  it  but you can always continue to refine or  fine tune it along the way based on customer feedback and deliver upgrades subsequently.

Rinse & Repeat

One of the main advantage with dealing with Internet marketing or any online business model for that matter  is that you can apply similar tactics or strategies that works on one particular product to another product sales and other niche markets.

You can multiply your income by multiple fold and even exponentially by following a proven success  blue print that you are comfortable with and which you know works for you. You can apply the same business model over and over again and sooner than you could imagine, you are on your way to becoming a millionaire runaway success story.

Summary

Is it possible to live the life style of  your dreams, generate massive recurring passive income and build a million dollar business empire with just a computer and Internet connection?  Nobody said it is going to be easy but it can done. You need to  have the right mindset, take action and stay the course.

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