Startup Myths Of Making Money Fast Online

In last week’s blogpost, we looked at Internet Business Online.

(If you missed last week’s posting – click here to access it)

Can a Internet Startup Newbie makes a lot of money in the first year of business?

Many Internet Startup Newbies think and believe the following:-

Reason for their optimism. Get carried away by figures provided by Get Rich Quick Gurus of millions of potential customers in their Niche markets.

If you look at the above closely, there many assumptions which are not realistic in real life.

Though the Niche Market may have large pool of customers, Newbies must know about stiff competition from people who are promoting the same products (experienced Internet Marketer and other Newbies like them, who join, due to low cost entry nature of business). More competition means less likely to do well in sales.
Sell low cost niche products. Need to sell a lot more, in order to make a profit. Due to their newness in the market and small customers base, could not sell much in total quantity..
Have mistaken concept that “Build The Niche Product Website, People will come and buy”. People don’t buy products from people who are new to them. Need time and money on advertisements, to build these relationships with customers. Besides, there are millions and millions of websites and blogs in the internet, for your potential customers to find and frequent your site are a headache, not only for Newbies but also experienced marketers.
Need to have product knowledge and advice sought & value by your customers. In order to be considered as a Authority Site, you need to promote as such, with regular addition of good quality content articles in your website. To get noticed by search engines, such as Google, Bing, etc and get enough potential customers into buyers take time, a few months, in most cases.

Will talk about “A Good Start…” a guide to setting up and building a profitable and sustainable online business, in a week’s time.

Bye from now.

Reuben H C Ong (a.k.a Reubeno)

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