Paul Chen
Beware of the Online Business Minefield
“Thar’s gold in them thar hills,” was proclaimed around the world in 1849, when gold was discovered in the hills of northern California.
More than 100,000 people descended upon California to find their own wealth in the hills and the streams of California. Fast-forward 150 years, and people are saying the same thing about the Internet today.
“Thar is gold in them thar Web pages,” for the person who doesn’t get their clock cleaned by the snake oil salesmen of the Internet.
Early Victors in the Online Business Success Story
In 1994, Stanford students Jerry Yang and David Filo created the Yahoo web directory. One year later, they co-founded Yahoo, Inc.
In 1998, Stanford students Larry Page and Sergey Brin created and launched the Google search engine, the largest and most popular search company on the Internet today.
In 2005, three former PayPal employees joined forces to create YouTube. The three founders of YouTube were Steve Chen, Chad Hurley and Jawed Karim. Only 21 months after the launch of YouTube, Google purchased the website for $1.65 billion in Google stock.
One Does Not Have to be “On Leave from the Stanford Ph.D. Program”
It’s amazing when you look at the biographies of the Who’s Who in Internet business startup success. Most everyone on the list has as part of his or her biography, “currently on a leave of absence from Stanford’s … Ph.D. program.”
This reference is actually an inside joke, pointing to the fact that nearly all of these people dropped out of college to start their Internet businesses.
The founders of Yahoo, Google and Apple were all college dropouts. The founders of YouTube were simply paid staff of PayPal before striking out on their own with YouTube.
The point is that if college dropouts can make it online, then we can too, if we choose to learn from those who came before us.
Creating Online Business Success Today
There are many companies online offering business-building services to others. Some are good, some are bad, and others may be good, but they may not be the right service providers for your company.
Take for example the Google AdWords pay-per-click advertising system. Millionaires have been made through the Google AdWords system.
Just to put this into perspective, through June of 2007, eBay had been spending $25 million every quarter with Google AdWords.
When major businesses spend $100 million per year in advertising with one advertiser, you can believe that the company is making that amount back and much more from the advertising provider.
For Every Online Success, There Are Dozens of Failures
Not all of us will create the next Yahoo, Google, eBay or Amazon. But, good money can be made online if you don’t fall into the traps where many before you have fallen.
AdWords is a powerful advertising model. It can make millionaires and it does every year.
But the thing is that AdWords may not be the right advertising model for you to follow now and it may not be right for you ever.
If you understand that, you’re less likely to fall into the poor house using any online advertising method.
Unfortunately, too many people have mortgaged their homes and driven themselves into bankruptcy using companies to promote their online businesses.
Deep Pockets Are Not the Solution, But Wise Choices Are
First and foremost, a business must design itself to make a profit on its’ activities.
I know people who have developed businesses online that did well in the sales column, but the business owner failed in his quest to turn those sales into a profit.
Imagine being the website owner who generated his first $120,000 year and then nearly went under because his prices were too low for the kind of service being offered.
After having been a successful sole proprietor online for five years, my friend said that his first six-figure year nearly put him out of business. He is just now beginning to recover financially from his mistakes, 18 months later.
We Can’t Know Everything about Running Our Businesses, Especially in Today’s Complicated World
When starting an online business, there are people who have been down the road you are getting ready to travel. They know where the potholes are in the road and they know where the landmines are buried.
To add a person of this caliber to your contact list could mean the difference between success and failure online.
It’s a real added benefit for online business people to have someone to turn to for advice, regarding how to overcome the hurdles they will face in their online business.
We might have the basics covered, but there’s always going to be times when the experiences of others can help light the path in front of us.
Personal Business | Internet Marketing Coaches Can Help You Avoid The Landmines
A good business mentor or coach is an invaluable asset for many online businesses today.
There are * affordable * business mentors and marketing coaches offering their services to online business owners.
What if you could benefit from their past experiences — both good and bad – without having to waste the money and the time they did?
Think of their services as being like an insurance policy, helping ensure your success.
Over my many years online, I have personally learned a lot from the school of hard knocks.
And after having gone through SEO training and AdWords training, one of my early SEO colleagues told me that people should never invest in Search Engine Optimization, until after they have done another important task first.
By utilizing that one very important piece of information, I was able to stop wasting my limited marketing resources and to start making a profit more quickly.
I offer you that solution and more in my Free Online Business Success and Marketing Course, available to you right now on my website.
About the Author
Are you using
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