Spending the Big Bucks

How often are you purchasing ebooks, strategy guides and software to build you IM business? Are you spending cash hand over fist in pursuit of an ideal approach to implement your business idea? Are you becoming an IM product addict, investing your cash in anything and everything that might improve you bottom line?

If you’re spending a fortune on your business, you’re not the only one. Many IMers are on the buy-buy-buy-and-buy-some-more treadmill.

And that’s totally understandable. It’s entirely reasonable to invest in new strategies and tools to fine-tune your profitable IM enterprises. Investing in new materials to stay on top of a quickly developing industry is reasonable. Spending that money when you’re struggling is a different story.

There’s a big difference between the person who’s staying on the cutting edge of new developments and the person who’s spending like a madman in hopes of finding a magical solution that will turn things around.

You want to spend your money the smart way. You don’t want to be the person who’s spent $40,000 on IM products and still isn’t making regular sales.

Buying the Right Way

How do you prevent yourself from unnecessary overspending? The first step is creating a bedrock foundation for your IM business. If you look at the core of Internet marketing, it’s really rather simple.

You must have a product you can sell. You need a way to sell it. You need to bring traffic to your the site you’ll use to make sales.

That’s really all there is to it. All of your efforts should relate to one of those basic needs.

As such, you need to focus on building strength in all three areas. When you buy something, it must directly address one of those three foundational needs.

Before you start reaching for details, tweaks, adjustments and tricks, you need to develop your core means of making online money. Once you have the basics in place, you’re going to start making money. After you’re making money, you can being looking at those extras and adjustments.

Building a Smart Foundation

You can start building that money making foundation without going broke in the process. Here’s what you need to do.

• Develop a holistic understanding of Internet marketing. You need to learn how things work from someone who’s spent time in the trenches.
• Focus a great deal of effort on traffic generation. As noted, traffic is one of the three keys to a solid foundation. It’s probably the most important of those three elements. Without traffic, you can’t determine if your product is interesting or if you’re sales strategy is working.| Absent traffic, you can’t determine if you have the right product or a workable sales strategy. You need to put eyeballs on your pages right away.
• Secure ongoing support. A smart ebook can be worth its weight in gold. A video can be invaluable. However, you’ll find more value in cultivating a good relationship with an experienced, successful IMer. You can become more efficient and successful when you’re on the receiving end of expert advice.
• Minimize your exposure. You need to build your foundation without putting too much of your limited resources at risk. Find opportunities to get the essentials at bargain prices. Look for a business coaching program or mentoring arrangement that doesn’t cost more than you can afford.

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Dustin Struckman Has Written 33 Articles For Us!

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Tags: business coaching, internet marketing

This entry was posted on October 7, 2010 at 1:12 am. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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