Don’t Make This Newbie Business Mistake
Tim on July 29th, 2008
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It’s come to my attention that many beginners in the business world are making the same basic mistakes. Now these aren’t mistakes per-se, simply that this beginner is doing things in the wrong order and at the wrong time.
You may disagree with the following, and if you do I encourage you to leave me a comment to tell me why, for I love a good argument… I mean discussion.
The Mistake: Building a Business
Now don’t get me wrong, building a business is awesome and is by far the best way to make money in the long run. The simply fact is however, those who start out by attempting to build a big business, produce their own products and try and be really big from the get go usually fail miserably.
The problem is not that this is a sound business model, it’s simply too much for one person to carry and as such you’ll run out of motivation before the project is finished, netting you no income and a lot of wasted time.
A Better way to go about it is to start off small, keep those big dreams in mind for the future, but don’t work on them just yet. Whenever someone asks me “How do I make money on the Internet?” I always give them this simply quiz:
What do you like better, English or Maths?
If they pick English I tell them to start blogging, or do the Bum Marketing Method. If they pick maths I tell them to start working with adwords selling affiliate programs.
The reason I do this and don’t tell them to start their own business is simply that when you’re a beginner building a business from scratch is just way too much work. The thing that gave me and gives most people the most motivation to keep going with making money on the internet is that very first dollar, the dollar most will never see if they set their sights too big to begin with.
Of course aiming high isn’t bad, it’s awesome to aim for the stars (I’d love to be the next Sergey Brin or Larry Page someday), it’s just not good to undertake a huge project right off the mark, because most people don’t have the willpower to carry through with it.
Once you’ve made that first dollar online it’s like you’re a giant snowball rolling down the hill gathering more and more snow and momentum as you go, it truly is an exhilarating experience. You can start to really see the potential of the online world and will have much more motivation to keep on going with it.
Once you start to bring in a moderate income from the internet it’s a great idea to ditch those early methods of making money (keep a blog going, but writing articles to promote affiliate products is still not building your own brand and product) and start focusing on building a real solid income. It’s at this stage you should be able to outsource some of your work to get the ball rolling. No longer do you have to spend months doing boring tasks to build a business, you can outsource it to India for $200 and get it done in days 
Then you simply continually reinvest that money that you earn into even bigger and better projects, building your own brand, your own company with your own products and start taking on the big boys. The best things is, due to outsourcing being inexpensive and fast you can build a business as fast as your budget allows.
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