Yes, You need a Business Plan for an Online Business

By setting up a business plan, you are road mapping your way to success. It will help you to develop your business goals and strategies, as well as providing you with a better understanding of the marketplace. It will also highlight any business strengths or weaknesses that you may have, as well as providing you with an opportunity to take a close look at your competitors. If you want, you can also include financial projections, historical data and growth expectations into your business plan.


With any good business plan, it should show who the target audience is, and just how the product or service that is being provided will meet or exceed their needs and expectations.

When organizing a business plan it is best if you break it down into sections such as:-

1. Business summary – The product or service you want to provide.

2. Market analysis – Research on the product or service and how the competitors are doing.

3. Product positioning – How to make it more prominent compared to your competitors.

4. Market strategy – How are you actually going to market it?

5. Customer analysis – Look at what the customer wants or needs.

6. Financial analysis – What you need to invest in order to set up the business and to keep it going while it is just getting started.

7. Overall business goals – What you hope to achieve in, say, a year’s time.

But what is more important is that once a business plan has been developed, it should not lay in the back of a drawer somewhere. It should be a working plan that you can refer to when you need to.  The best way to make a business plan is to keep it simple (one or two pages should be all you need).  Certainly one of the best things you can do when starting an online business is to create a plan then stick with it.

10 Tips to Making the Sale

So there you have it, my top ten tips for converting visitors into sales. These tips apply if your are selling your own products, or if you are driving traffic through affiliate links. So here they are again in point form.

1) Make the price easy to find.

2) Ask for the order or click.

3) Presell, especially if the destination site does not.

4) Give as much info as possible about technical products.

5) Give measurable results in headlines ie: Sales increased by 400% in 1 day!

6) Make sure the destination site doesn’t suck. Afterall, it’s where you drive your traffic and you don’t want to waste it. Make sure their search function actually works and finds what you’re looking for.

7) Use confidence building logos on all your web pages and order forms.

8) Grease the chute, remove all friction and extra data from the buying process... especially the order form.

9) Minimize clicks from search engine to order form. Get them from search to purchase, in as little as three clicks.

10) Monetize everything. Every banner, every ad, every graphic, every link on your web site must make money, especially the links leaving your site. If a link is not making money, take it down and replace it with one that does.

6 Considerations Before Starting An Online Business

1. What product or service will you want to provide?


For many people, they will start an online business based on knowledge and experience that they have already, while others may spot a gap in the market. But the most important thing that you can do is carry out research with companies and individuals that you do not know in order to get a more unbiased view.

Also, do as much reading and research on everything you can about particular areas of interest, as well as studying the pros and cons that this will have in relation to your overall goals. Plus, make yourself familiar with your competitors, as this will boost your confidence and enthusiasm for setting up an online business.

2. Where to work from?

You do not need to work from home, but this is an option that many online business people prefer. But others prefer to have an office away from the home, as they find it difficult to focus, as well as feeling isolated.

3. How to market the business?

It is important, if you want your online business to thrive, to ensure that you establish a web presence. The best way of doing this is by direct mail, networking, display advertising etc. But what approach works best for you will depend on the product that you are selling. The best way of finding out what will work, is by trying a different number of methods initially, and then go for it once you know which one is best. However, if you are unsure where to start, then look at how your competition is marketing their goods…if it works for them, it may work for you also.

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4. Develop a Plan.



Without having a blueprint on how to reach your goals, you may find that not just your efforts, but the resources may well be squandered. Having a plan provides you with focus, direction and momentum to keep the business on track. We will look further at setting up a business plan in the next chapter.

5. Check Laws and Regulations

It is important that you check to see if there are any local laws or regulations in relation to setting up an online business from home. Also, you will need to get laws and regulations in regard to being self employed.

6. Setting up the Office

More often than not, an online business will be conducted from the person’s home. So it is important that you set up a home office prior to starting up the business. You should arrange to have all the necessary equipment that you will need such as computer, internet connection, printer, fax machine (but not essential) are just a few things that you will need if you want to be successful with your online business.

Where To Start When Starting An Online Business

Now as you know, more and more people today have become dissatisfied with their jobs and their pension provisions. So the interest in starting an online business has begun to increase. Yet many who look at such a project find it difficult to know where to start because of the mountain of information available on the subject.


One of the first things that you should bear in mind when setting up an online business of any sort, is that you must treat it as just that – a business. This means that you must be prepared to put in the time and effort in order to reap the rewards, even if you are only starting it as a part time venture at first.

Next, you must be prepared to invest some money into it. You do not need to put in large amounts, in fact, if you want, you could actually set it up on a very low budget. Also, what you should remember where an online business is concerned, the running costs are very low compared to a more traditional business.

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However, the best place to begin is by picking what you like from the existing successful online business models already out there. So talk to others who have already made money in the niche that you have chosen, and then study, then implement the steps that they took to make it the success it is.

So now you need to think about just what sort of business it is you like to run. Some of the more popular types of online businesses to be found are: selling goods at auction sites such as Ebay, creating and then selling digital products (e-books are a good example of this) and setting up a custom storefront for your offline business. Also, you may want to make downloadable audio and video products for your customers, or you may just want to get into affiliate marketing instead.

However, if you do choose to go with Ebay, one of the main advantages of setting up an online business based around this is as follows:-

1. You will have immediate access to millions of customers.

2. Plus you will have the opportunity to sell anything from cars to collectibles (say old sports cards).

3. Also, setting up an account on Ebay is straightforward, and the costs relating to auctioning items on this site are extremely low.

However, it is important that you familiarize yourself with the site. So take a look at the different categories and auctions that are already taking place. Also check out their “How to Sell” section on the site.

For some, the thought of creating their own products seems very daunting, but if you happen to be an expert in a particular niche, then coming up with ideas should not be that difficult. It is important that you carry out some market research to make sure that people would buy related items.

So spend some time writing down or recording any thoughts that you may have with regard to the subject. Then go back and edit where you need to by putting things into a logical order. However, if you are someone who doesn’t like writing, then take a look at some other sites selling those same products or similar ones and get ideas from them.

Make a note, if you can, of what is selling well and formulate some questions that someone who is interested in this product might ask. If you are able to find a friend who will do an interview with you, getting them to ask you the questions you have produced. You can, if you want, record this interview and the make into an audio product which others can then download.

But if this just all seems too much, then why not get someone else to write some books for you? Think about hiring a ghostwriter. But this may be something to consider when you have a bit more money in the business account. So really, the next best way to make money with an online business is by selling someone else’s products as an affiliate. 

The best way of starting an online business is to do it in an area that you are knowledgeable or passionate about. This will help you to focus your attention, as well as help to create a small income more quickly. But over a period of time, you will soon develop new skills, and through persistence and patience, you will soon see some very good results appear.

How To Build a Friend Network on Facebook

There is nothing worse than logging into your FaceBook account, clicking on your friends list, and seeing the words ‘you have no friends.’ That’s an assault to ones sense of self confidence and self worth! You’ve got to start adding friends as quickly as possible.



Start with the people that you already know. You want to get that friends list populated fast. You can use the FaceBook feature that will search your email accounts at Gmail (http://www.gmail.com), Hotmail (http://www.msn.com), and AOL (http://www.aol.com).


If it discovers some of your contacts are Facebook users, it will give you the option to send those people a friends request.


From there, consider other social networking sites that you belong to and the friends that you have there – even if they are not in your email address book. Check to see if they have an account on FaceBook. Write a message in NotePad so that you can copy and paste. It should be very short and to the point.

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You may need a couple of different messages. One might say “I know you from such and such forum or social networking site and I would like to add you to my friends list here at FaceBook.” Another might say “I realize that you do not know me personally, but I see that we have xxx in common, so I would like to add you to my circle of friends.”

Look for people that you know from other social networking sites, social bookmarking sites, microblogging (Twitter, at http://www.twitter.com), forums, and even blogs that you commonly read, as well as people who read your blog. Also consider adding other Internet Marketers, including marketers who are in the same niche that you are in.

From there, you can use the search features to find people in your general area as well as people who have interests that are in common to yours. Just add them even if you’ve never had any contact with those people in any other online or offline venue. Look at the friends of your friends. This is an excellent way to grow your network as well – the thing that you have in common is the original friend.

Just remember that every person you add to your network is a potential customer, a customer, or a business associate, and you definitely want your network to grow as large as possible, as quickly as possible to get the most benefit from FaceBook.


If you don’t have friends added to your friends list, being a part of a social networking site is rather pointless. On FaceBook, you can be average or you can be a super star. Obviously, since you are using FaceBook for marketing or business purposes, you want to be a superstar. You can achieve that status in as little as 30 days, but it does take a time commitment on your part.


First you should note that if you have fewer than 200 friends on FaceBook, this isn’t a bad thing. In fact, it’s an average thing. However, again, you want superstar status, so this won’t do for you.

Once you have 500 friends, you are considered to be popular, and people will gravitate to you, and when you have between 800 and 1000 friends, you’re essentially a FaceBook celebrity. Eventually, that’s what you should be working towards, but for now, let’s concentrate on becoming popular, with 500 friends.

Do not use automated software that adds friends to your FaceBook friends list. This defeats the purpose of social networking. Instead, do it the ‘hard way’. You will come to realize that the hard way really isn’t hard at all.

The first thing to do is to join all of the Internet Marketing groups that you can find. There are plenty of them out there. Each time you join a group, send a friend request to all members of that group.

Not all members will accept the request, but the majority of them will. This can be a little time consuming, but it is well worth the effort in the end. This should easily net you 200 to 300 friends. Try to add at least 30 new friends each day, for the full 30 days.

Once you’ve exhausted the IM groups, find other groups that are related to your business. For example, if you are in the personal development group, find those personal development groups, and start adding members as friends.

Use your existing website to get more friends, as well as your blog. Post your FaceBook badge on your website and blog. Make a blog post and invite your readers to add you as a friend on Facebook. If you twitter, tell your followers to add you on FaceBook. If you have a mailing list, send out a note and invite them to join you on FaceBook.

Again, it does take a concentrated effort on your part, but it is well worth it in the end, and if you are dedicated, you absolutely will have more than 500 friends in less than 30 days, and if you want that superstar celebrity status at FaceBook, you can continue to add new friends for an additional 30 days to reach that goal.

Why Use Facebook For Marketing

In marketing circles, there is a great deal of talk about FaceBook. FaceBook is a social networking site that came quietly into the Internet scene in early 2004, when it was founded by Mark Zuckerberg. Mr. Zuckerberg was still a student at Harvard University at that time, and FaceBook was geared towards college students only.




Within the FaceBook interface, users are able to create their own profile, complete with personal data, professional data, and a picture. They are then able to add other users of Facebook to their circle of friends. They can add people they know or request to add complete strangers, therefore widening their network, or circle of friends.


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Friends – or strangers soon to be friends – can be located with their email address, by region or city, by profession, by their school, or numerous other options. Once a person has joined your circle of friends, you can interact with them by sending them messages or leaving notes on their profile, which is essentially called ‘writing on one’s wall.’


As stated, FaceBook was initially designed for use by college students – first those attending Harvard, and later those attending other ivy league schools. A lot has changed in four years, and now anyone over the age of 13 can open a free account at FaceBook and start interacting with others. Today, there are more than 80 million people using FaceBook.


Since FaceBook has become open to non-college students, some of the most famous Internet Marketers, including John Reese, Mike Filsaime, Willie Crawford, and Edmund Loh have found that the social networking site is more than just a way to connect with old friends and to meet new friends, it can also be used as a valuable marketing tool.


Internet Marketers around the world have found that FaceBook allows them to interact with people on a more personal level, which in turn builds even greater trust and stronger relationships with customers and potential customers. It has even been said that social networking, especially through a site such as FaceBook, is more effective than marketing to one’s opt-in list in many ways.


FaceBook is no longer a ‘little known secret.’ It’s been blown wide open, and it is essential that you start using it and including social networking in your Internet Marketing endeavors – just as the most influential Internet Marketers are already doing.

4 Secrets To Writing Great Articles

#1 Where to Get Article Ideas



All you have to do to get ideas for articles is be on the lookout for them! The first thing you should do is spend a minimum of 15 minutes a day reading something related to your specialty. Make notes of topics that a short time, you will have more topics that you want to write about than you have time for.


A good way to find topic ideas quickly is to subscribe to RSS Feeds. If you have an account at Google, you can add RSS Feeds to your Google Feed page and easily have access to new articles on a daily basis. (Any other feeder will do just as well, though.)  Subscribe to a variety of feeds so you’ll have resources for news items related to your topic, as well as new blog posts.


Then, determine if there is a new twist that you can put on an existing topic, or a story that didn't give enough information. This is a great opportunity for an article because you can reference the original article, state your concerns, and recommend a solution.


Viola! You have an easy-to-make article.


Industry changes and technology news also make for quick articles; and you can always

write articles that quiz people on your topic specialty.  Look at what others are writing about. If you receive a lot of newsletters in your email inbox on a daily basis, start scanning those that have been ignored for a while. They could be loaded with information that is full of article ideas. If there are links in the email, click on them! This will bring you to new sites with new information, and will also give you ideas on what you can promote in your next newsletter.
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While you are at the site you clicked on, see if there are any FAQ pages that will help you identify a problem that you can solve with your writing. A list of short tips that helps solve a problem would also make a great article.  Remember - write everything in your own words, don’t just copy and paste the website owner's FAQ.


Blog sites are an excellent way to get new ideas. Search Google Blogs for some interesting blogs. You are bound to find an endless stream of ideas for things that you can elaborate on.


Take another look at your own hobbies and see if there is something you like to do that might be interesting to others.  Do you have a different hobby in summer than in the winter? Have you been writing a variety of articles on skiing and forgetting that you also fish? While you are searching the blogs, you may find other hobbies that would be interesting to your target market
and fit in with your main focus.


Article sites are another great place to find ideas and get free articles that can serve as
templates for your own efforts.

#2 Writing the Article

After you’ve gone through all of the areas above looking for ideas, it’s time to sit down and write the article. You should now have a good idea for the article, but you need to figure out who is the best target audience for this information.  If you’re writing for a pet-focused group, you do NOT want your article to be about making money or self-help. It should solve a pet related problem. If you are submitting your article to article directories, be sure they have a section that includes your niche. Otherwise, you'll be wasting your time submitting to them.

You should take about five minutes to brainstorm and write out some questions that you want to answer in your article.  Don’t worry if you don’t know the correct answers right away — you can do more research later.  In fact, it’s a good hint you are on the right track if you don’t know all the answers. That usually means that you are not just writing on too obvious a topic. You'll likely have valuable information and a different a different point of view to pass along.

After reading the niche articles you found, your mind will be focused on the job at hand. You'll find that after about five minutes of brainstorming, you will have some interesting things to write about.  Now that you have some ideas for the article, and you know whom you are targeting, you need to determine what you want your article to accomplish.

Are you writing to give your readers interesting information? Do you want them to click on a link to your website, subscribe to your ezine or buy something from you?  Always begin with the end in mind. 

#3 Formatting your Article

Believe it or not, there are only three key elements that must be included in every article, and they are:

Attention Getting Headline (Subject Line)

The headline should sum up the main benefit of reading the article and make the reader want to read more.  Make the headline irresistible by promising valuable information, arousing curiosity, or bringing up a problem that might not have been thought of before. (And, of course, you have the solution in your article).  There are quite a few resources that will help you write good headlines, so make sure you have one for your article.

The Body of the Article Must Deliver on the Promise of the Headline. 

If your headline is “Easy Ways to Lose Weight Without Exercising,” your article should not include exercising tips. Also, if you promise a number of tips (example: Four Secrets To Writing. . .) there should be four items included.  If you offer a “simple solution” to something, it had better be simple or the reader will no longer trust you and won’t open your emails in the future. Always give the readers what you promise and you will have happy customers for a long time.

Conclusion - Call to Action

This is where you tell the reader(s) exactly what you want them to do after finishing your article.
There should always be a link to your website or a reference box for more information at the end of the article. This will send the reader back to your site, clicking on your links, and helping pay for the time you spent writing your article.

#4 Edit and Review

Always edit your article. Read it over twice, then read it out loud. It’s a good idea to write an article a few days before it is actually needed, to give you time to think of other things to add to it. You will be amazed at how many other ideas you will get after the article is written, and how your subconscious keeps working behind the scenes.

At the minimum, wait at least overnight and see what new ideas you have in the morning.  There is a simple trick that will allow you to catch 100% of the errors that are in your article. Simply print out your completed article, and then read it slowly as you follow along with your left hand. You will be surprised at how well it works to engage the other side of your brain when reading the
article (if you’re left-handed, follow along with your right hand).

So, there you have it, Four Great Article Writing Secrets (1) Finding Article Ideas, (2) Writing Tips, (3) Easy Formatting, and (4) Catching 100% of your errors!

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How To Select The Right Affiliate Program

Ask questions first before you join an affiliate program. Do a little research about the choices of program that you intend to join into. Get some answers because they will be the deciding point of what you will be achieving later on.


Will it cost you anything to join?

Most affiliate programs being offered today
are absolutely free of charge. So why settle for those that charge you some dollars before joining.


When do they issue the commission checks?

Every program is different.  Some issue their checks once a month, every quarter, etc. Select the one that is suited to your payment time choice. Many affiliate programs are setting a minimum earned commission amount that an affiliate must meet or exceed in order for their checks to be issued.


What is the hit per sale ratio?

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This is the average number of hits to a banner or text link it takes to generate a sale based on all affiliate statistics. This factor is extremely important because this will tell you how much traffic you must generate before you can earn a commission from the sale.


How are referrals from an affiliate’s site tracked and for how long do they remain in the system?

You need to be confident on the program enough to track those people you refer from your site. This is the only way that you can credit for a sale. The period of time that those people stay in the system is also important. This is because some visitors do not buy initially but may want to return later to make the purchase. Know if you will still get credit for the sale if it is done some months from a certain day.


What are the kinds of affiliate stats available?

Your choice of affiliate program should be capable of offering detailed stats. They should be available online anytime you decide to check them out. Constantly checking your individual stats is important to know how many impressions, hits and sales are already generated from your site. Impressions are the number of times the banner or text link was viewed by a visitor of your site. A hit is the one clicking on the banner or text links.


Does the affiliate program also pay for the hits and impressions besides the commissions on sales?

It is important that impressions and hits are also paid, as this will add to the earnings you get from the sales commission.  This is especially important if the program you are in offers low sales to be able to hit ratio.


Who is the online retailer?

Find out whom you are doing business with to know if it is really a solid company. Know the products they are selling and the average amount they are achieving. The more you know about the retailer offering you the affiliate program, the easier it will be for you to know if that program is really for you and your site.


Is the affiliate a one tier or two tier program?

A single tier program pays you only for the business you yourself have generated. A two tier program pays you for the business, plus it also pays you a commission on the on the sales generated by any affiliate you sponsor in your program. Some two-tier programs are even paying small fees on each new affiliate you sponsor. More like a recruitment fee.


Lastly, what is the amount of commission paid?

20% - 80% (and some cases, 100%!) is the commission paid by most programs. .01% - .05% is the amount paid for each hit. If you find a program that also pays for impressions, the amount paid is not much at all. As you can see from the figures, you will now understand why the average sales amount and hit to sale ratio is important.


These are just some of the questions that needed answering first before you enter into an affiliate program. You should be familiar with the many important aspects that your chosen program should have before incorporating them into your website. Try to ask your affiliate program choices these questions. These can help you select the right program for you site from among the many available.

3 Things Affiliate Marketers Need To Make Sales

Now every affiliate marketer is always looking for the successful market that gives the biggest paycheck. Sometimes they think it is a magic formula that is readily available for them. Actually, it is more complicated than that. It is just good marketing practices that have been proven over years of hard work and dedication.


There are tactics that have worked before with online marketing and is continuing to work in the online affiliate marketing world of today. With these top three marketing tips, you will be able to able to increase your sales and survive in the affiliate marketing online.


What are these three tactics?


1. Using unique web pages to promote each separate product you are marketing.  Do not lump all of it together just to save some money on web hosting. It is best to have a site focusing on each and every product and nothing more.  Always include product reviews on the website so visitors will have an initial understanding on what the product can do to those who buys them. Also include testimonials from users who have already tried the product. Be sure that these customers are more than willing to allow you to use their names and photos on the site of the specific product you are marketing.


You can also write articles highlighting the uses of the product and include them on the website as an additional page. Make the pages attractive compelling and include calls to act on the information. Each headline should attract the readers to try and read more, even contact you. Highlight your special points. This will help your readers to learn what the page is about and will want to find out more.


2. Offer free reports to your readers.  If possible position them at the very top side of your page so it they simply cannot be missed. Try to create autoresponder messages that will be mailed to those who input their personal information into your sign up box. According to research, a sale is closed usually on the seventh contact with a prospect.  Only two things can possibly happen with the web page alone: closed sale or the prospect leaving the page and never return again.

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By placing useful information into their inboxes at certain specified period, you will remind them of the product they thought they want later and will find out that the sale is closed. Be sure that the content is directed toward specific reasons to buy the product. Do not make it sound like a sales pitch.  Focus on important points like how your product can make life and things easier and more enjoyable. Include compelling subject lines in the email. As much as possible, avoid using the word “free” because there are still older spam filters that dumps those kind of contents into the junk before even anyone reading them first. Convince those who signed up for your free reports that they will be missing something big if they do not avail of your products and services.


3. Get the kind of traffic that is targeted to your product.  Just think, if the person who visited your website has no interest whatsoever in what you are offering, they will be among those who move on and never come back. Write articles for publication in e-zines and e-reports. This way you can locate publications that is focusing on your target customers and what you have put up might just grab their interest.


Try to write a minimum of 2 articles per week, with at least 300-600 words in length. By continuously writing and maintaining these articles you can generate as many as 100 targeted readers to your site in a day. Always remember that only 1 out of 100 people are likely to buy your product or get your services. If you can generate as much as 1,000 targeted hits for your website in a day, that means you can made 10 sales based on the average statistic.


The tactics given above does not really sound very difficult to do, if you think about it. It just requires a little time and an action plan on your part.  Try to use these tips for several affiliate marketing programs. You can end maintaining a good source of income and surviving in this business that not all marketers can do.


Besides, think of the huge paychecks you will be receiving!

More Ways to Make Money While You Sleep

This article will continue the discussion of how to make money when you are sleeping.  The list of money making ideas to increased with the following business opportunities.

URLs and Intellectual Property


There are so many different types of intellectual property.  You can register a URL, which is an address on the Internet. And then if somebody really wants that address, you can negotiate with them and say “OK, I’ll
take a percentage of your business that you do on my URL.” I have some really amazing URLs that I have set up in other countries. If you spend time looking, you can really find one.  You can look for domains in countries such as Canada, Japan, United Kingdom and even emerging countries.

You can create a whole business based on just a URL that is so memorable that people will come there.  You can start with popular U.S. domain names and translate them to the home country language such as network marketing, etc.
 
Buy a Franchises or Franchise Your Business


You can license business models and franchises too.  A franchise is just a business that says we are going
to show you exactly how to run a McDonald’s, say, and you are going to pay us X amount of dollars from all
your sales.  McDonald’s leases the franchised buildings, which is the most brilliant thing ever. The lease is structured as $X amount or X percent of sales, whichever is higher.  They have a real estate business on top of the franchise business.

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You can also do this for a business based on locality.  For example, you have a business model that serves a city so you franchise our your business for each specific city or tertitory.  Suppose you franchise out a website for tourist attractions, etc for each city or state in the U.S or one of the country's you are familiar with in your travel experiences.

Network Marketing

Network marketing is another way to make money in your sleep that is very popular.  You build a network that continues to sell the company’s products, so you get residual income forever and ever.  There are so many ways and markets to do network marketing.  I suggest you start with a niche market and find products and services to market to them.  You must invest the proper amount of time to learn the best methods to engage each niche market before you will achieve success in network marketing.
 
Tollgates or Tollroads


Your patent or other intellectual property can be a tollgate.  Can you guess which patent made the most money worldwide? The guy who thought it up is still making money from it: the process of reading a barcode with a laser. He kept amending his application until everyone in the world was using lasers to read barcodes. And then he let the patent issue.

One of the interesting things about patents is that they cover not only what is inside your country but
anything that happens outside of your country and gets imported into your country. If you use a laser to read a barcode in the process of manufacturing a product that gets imported into the United States, you have to pass this guy’s tollgate.  Everybody pays. It’s insane. And then they pay, and pay, and pay. He gets $5 million from this company, $4 million from this company, $10 million from this company, every single year. And the list of companies is long.  You really want to be thinking tollgates.

Bottomline: We have given a list of potential ways to create multiple streams of income from residual and passive income.  Now, you should take the time to start researching how to implement these ideas to create your business empire.

Creating Future Residual Incomes

Making little improvements that haven’t been thought of before can pay the biggest dividends.  What are some things we can do?

Copyrights

Books have a copyright. Copyrights last for how many years? It is different in different countries. Worst case is 17 years; best case is the lifetime of the author plus 50 years, and then the family can extend it indefinitely.
You ask how important is a copyright? My estate attorney is the same as for Arnold Schwarzenegger, Steven Spielberg, and a guy named L. Frank Baum. Who is L. Frank Baum? He wrote The Wizard of Oz.
He has been dead almost 90 years and his estate makes $100 million a year in Wizard of Oz costumes at
Halloween.

That is why you should create a copyright and include it in your will. Your estate executive, who takes
care of your will, by contract, hands it off forever and ever.  Copyrights keep right on making money long after the original author or creator is gone.

Music Royalties and Rights

The same thing applies to music royalties and rights. The song “Happy Birthday” is still under copyright
and receives huge royalties every year worldwide.  Imagine it!  And typically the author receives a portion of the song’s revenues while the artist and the record company split the remaining income.


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Public Domain

Charles “Tremendous” Jones was one of the first to buy rights in the speaking business, and we are doing some business with him.  Charles Tremendous Jones talked at all of the big Amway meetings. The first time I saw him he was speaking to 10,000 people. He had public domain books, books from authors who had been dead 100 years, but also great books like James Allen’s As a Man Thinketh. How many of you have read As a Man Thinketh?  “Mind is the Master power that molds and makes and Man is Mind, and evermore he takes the tools of Thought, and, shaping what he wills, Brings forth a thousand joys, a thousand ills:—He thinks in secret, and it comes to pass. Environment is but his looking-glass.”

This book is very valuable. All Charlie had to do was write a new paragraph, a preface, and suddenly it was his book; he printed it for 25 cents a book 20 years ago. He had that book, and many other public domain books.  What is interesting is Charlie used to say to 10,000 people, “If you can read and don’t read, you are no better than a person that can’t read. And you are going to be the same person you are today, five years from now, except for the books that you read, the tapes you listen to, and the seminars you attend. You have to take my executive book pack; there are ten books, they are worth $10 each, so ten times $10 is $100. Don’t tell my wife, but I am going to give them to you, today, for $25.

All you have to do is put your credit card number on your business card and hand it to me in the back.”
He’d have 16 semi-trucks parked outside. People would run to buy the books he had obtained from
public domain.

Trademarks

Are trademarks valuable?  The two most valuable trademarks in the world are Coca-Cola and Campbell’s Soup.

So, trademarks are immensely important.  The most valuable asset that Nike has is not its factories or patents. It is the trademark of its Swoosh mark. That mark alone is worth billions of dollars.  You can probably think of numerous brands that are known worldwide.  You should keep trademarks in mind as you brand your business and products.

One of the best ways to create residual income is creating a product with a copyright, trademark and future royalties and rights.  You can even go into public domain to create a new product from an existing product.  The key is to get creative by solving problems using new ideas,

Create a Business That Accumulates Residual Income for You

Making Money While You Sleep

You want for your business to accumulate.  In other words, making a dollar today should be easier than making a dollar yesterday. And making a dollar this week should be easier than making a dollar last week. And making a dollar this year should be much easier than making a dollar last year. Making a dollar should be easier this year than last year! 

Most people in their businesses are experiencing the opposite, true or false?  It is getting harder to make a dollar than it used to be.  That is a problem, because you are not experiencing accumulation. You are experiencing “decumulation,”  where the value you are creating is going down.  You want to be creating systems that help you create that value. Those systems create sustainable value, because the system itself is valuable.


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You need to create a sustainable system of value creation.  So if you have created the system, the system continues to be valuable, even if you are not there.  In fact, society gives the biggest rewards to those people who are able to create systems and structures that create ongoing value when they are gone.  Think about that. If you can create a company that creates value, even if you are not there, society will give you huge rewards.

They’ll buy that company from you, and the best thing of all, they will pay you a multiple of the profits of that company when they take it off your hands.  Then you can create the next system that will create value on an ongoing basis. So, if you have a company that can make a $1 million a year, they can give you $10 million or $15 million for it right now. Then you can go build the next system.

You can make good money at a job.  But if you aren’t working, you don’t get an income.  That is one form of income. It’s not a bad form of  income, and it could be a high form of income; but what we want to talk about is residual income.

Imagine the infinity sign in your mind. On the right hand side you want residual income, which means recurring and ever flowing. On the left hand side is residual philanthropy.  You want to make so much that you have excess, so you can keep giving it away.  You have any number of ways to do that. I want to explain the simplest one. 

Think about a piece of string—not very valuable, right? Well, one guy capitalized on a patented a piece of
string that had a little wax on it and called it dental floss. I met this man at a dental meeting. He has made over $2 billion in residual income on a piece of string.  I want you to understand that you can patent, copyright, and trademark lots of different things.  This includes not only the hard product but also the
process, design, service, and so forth.  You can make $2 billion with a piece of string!

You may have seen Lance Armstrong with his little wristband, which he sold around the world to end
cancer. Many of us paid a dollar for it. In 2004, the first year that the LIVESTRONG™ wristband was
introduced, $31 million in wristbands were purchased.  In 2009 LIVESTRONG™ had functional expenses totaling $37,147, 929, and 81 percent of every dollar raised went directly to fund programmatic expenses.

Can you do really little things and make a profit? Yes!

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Create Content for Money

The Create Content  for Money works by combining your unique knowledge and life experiences into highly sought after content.

There are numerous websites that are willing to pay you for your effort. The more information you provide the more you make, and the amount you can make is completely up to you.

The websites that purchase your content could be considered similar to virtual marketplaces that facilitate the buying and selling of content. These sites act as a middleman for the purchase of your articles, blog posts, reviews, press releases, product descriptions, videos, tutorials, reports and news.

There is such a demand for unique content that websites are willing to pay large amounts of money for virtually any sort of content imaginable. Whether it’s content related to a favorite hobby, playing sports, celebrities, travel locations, or you name it, there are sites willing to purchase it.

As a content provider you can submit any kind of content you want. It will then be evaluated and sold to buyers that are hungry for it. You determine how fast or hard you want to work.

Every time you submit any new content to these sites, you get paid. You can even create content once, and resell it again and again to different pay-for-content sites. Many times you’ll receive payment within a few days, which makes this opportunity great for receiving money on demand.

With this business you’ll only be concerned about the selling side of these money making sites. That is, you’ll learn exactly how to create article content around subjects you are already familiar with, and submit them for cash.

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Your goal at the beginning should only be to provide the content these sites desire and profit from them.  Here is a couple sample programs that pay for content:
 
Triond Content for Money - you can write about any topic to create residual income
 
Elance - bid on writing and other  projects
 
Believe it or not, you have more knowledge inside you than you realize. Just think for a minute about the things you’ve done in your life…

• You have family, school, and job experiences.  
• You have hobbies and passions.
• There are things you excel at, things you’ve done that nobody else has, and things you take pleasure in. 
• You bring a unique and fresh perspective on life that only you can share.

Think about this: What do you talk about with your friends and family? What do you spend your free time doing? What do you think about regularly?

 If it’s a passion of yours, or something you take pleasure in, chances are that others will be interested too. This means the odds are great that there’s a website out there in need of new information about your experiences, right now.

Don’t ever underestimate yourself! It’s been said that every person has one book inside of them. I disagree. You have a lifetime of knowledge to draw from to create an endless amount of information. 

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Donald Lapre Infomercial Scammed TV Viewers

Does Donald Lapre sound familiar to you? You may have seen his infomercials on late night television.


He is facing a 41-count indictment, accused of bilking thousands of consumers. His company pitched "the greatest vitamin in the world." Now, a federal grand jury charged him with selling "worthless home businesses" that market these vitamins over the Internet.

The indictment says he took investor money and promised quick riches that never came. An estimated 220,000 TV viewers lost nearly $52 million.  If you lost money, you can report it to authorities.

Creating a Business from Unusual Ideas

We’ve discussed the more conventional means of starting an online business. There are some unconventional means as well that should be looked at. By unconventional, we mean those ideas that people came up and were laughed at by others. Those people than took those ideas to the top and made a huge living from them. Here are some of those ideas that people thought would never get off the ground:

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Selling old seminars- One guy made a nice living by finding and selling old seminars that originally sold for thousands of dollars.


Domain names- Someone came up with the idea that they could sell a service of naming domain names for other people. Sounds crazy, but the business took off for them. Turns out quite a few people needed that service.


Selling used engagement jewelry- This idea reportedly came from someone who broke off their engagement, got the ring back but found they couldn’t return it for full value. They started a site for other people in the same boat to sell their jewelry and earn back what they paid for it or as close to it as possible.


Selling butterflies for a living- Yes, it’s possible or at least that what one person found out when someone bet him that he couldn’t sell them. He not only won that bet, but made a huge business from that one little idea.




There are tons more ideas that people have come up and made them work as an online business, so check your memory banks and see if there’s one idea hiding there that no one would believe could work.

Online Business - Computer Publishing

If you’re a creative person and can use a computer well, consider an online business with desktop publishing. This is where you create documents, flyers, brochures, calendars, and advertisements.



All these types of documents are created using a program or two from your computer, so having expensive machinery to create them will not be needed.


There are a lot of people looking for these creative pages for all kinds of uses and don’t know how to create one themselves. If you have some knowledge in this area, you could use it to make money providing them with these creations.


What skills are helpful?


The ability to make your way around a computer and use various types of software programs are some skills you should have. You don’t have to be an artist to be in this business, because everything is done using the computer.


What Tools are needed?


Besides a computer, you should have the following equipment:


• Desktop publishing software


• Photo editing software


• Laser or Color Printer


• Scanner


• High Quality printer paper


Make sure you know how to use all the features of your equipment well so you can provide the best quality service for your clients.


How to get started





You should obtain all the necessary equipment to run your business. Decide on a niche to target your marketing efforts to and then create a website to reflect that niche. Your website should provide potential clients with samples of your work to show your expertise in this field.


You could also brush up on your skills by reading any tutorials or guides about the desktop publishing field.


Desktop Publishing can be a very rewarding business for anyone to undertake who loves to achieve creations to make anyone envious. If you are one of those people and you want something that will provide flexibility, this is the business you should check into.

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Online Business - Genealogy Business

This is a perfect business opportunity for those who love to research and love to learn about our ancestors. Genealogists make a living by creating family trees for other people who don’t have the time or the patience to do it themselves.



Almost everyone likes to know where they came from and what their ancestors did that might have made a mark on the world. You can cash into their curiosities by doing the research for them and providing them with their family heritage.


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What skills would be helpful?


Excellent research skills and organization skills will be of high priority. These skills are what genealogy is all about. You will need to know where and how to research each family’s heritage and be able to place all the information in an easy to understand format for your clients.


What Tools would be needed?


You would need a computer with a reliable internet connection. You should subscribe to some of the best genealogy websites available to use for your research. You should also invest in some guides or attend some classes to learn some tips and tricks on researching family trees.


A website would be needed to run your business from. Clients will need to know how you perform you work as well as how much you charge. Provide some samples if possible to show clients how thorough your work is.


How to get started


Get all your supplies brought together and find genealogy websites to subscribe to. Create a website to sell your service from and then start marketing your business to get clients to your site.


Utilize your internet resources for your research as well as local libraries, courthouses and historical societies. You may need to interview people to access some information, so you may need to look into a phone to use.


Create your family tree document that will hold all the family heritage information or use software programs that provide that for you.





If you love to research and are interested in historical documents, then you should be considering this type of business. Meet the demands that people have to find out their family history and make money doing something you love to do.

Online Business - Coaching Others

A coach is one who takes their know-how in a particular craft and sharing it with others who want to be successful in that field as well. Coaches can be experts in anything from writing to marketing to business itself.



If you have good knowledge or experience in a particular area you can become a coach quite easily and make money doing it. There are many coaches who help others in web design, graphic design and even in the coaching field as well.


A coach would offer tips and techniques to newbies within that field and answer questions throughout their learning process.


What skills are helpful?


The most important skill you should have for this type of business is the ability to be a good listener. You should also have great patience for your clients. Those who hire you to coach them want you to listen to their bad experiences and help guide them out of the muck they find themselves in no matter how strange they may sound.


To build rapport and credibility in this business, you should know your field well. If you’ve never designed a website before, then being a web designing coach would not be a good idea, because your lack of experience will be spotted right away and trust will be lost.


What Tools will be needed?


You should have the following in this kind of business:


• Computer


• E-Mail program


• Website


• Informative content for your site


• Shopping cart feature for your site to handle payments


• Telephone dedicated for business purposes


Most of your conversations with clients will probably be through your e-mail programs, but some people may be more comfortable being able to talk to you on a more one on one basis, so a phone should be included in your list of tools.


How to get started


Plan your business out. What service will you be offering that you have knowledge in? Get some articles and other written content created to place on a website to help build credibility and expert status for your business.


Explain on your site how your service works and how much your rate will be. Show some testimonials from others who have used your services before and were pleased with the results. Make your site easily navigated so others won’t get lost trying to find information about your coaching business.





Market your coaching business to get clients to come to you. Plan the goals that the client wants to achieve by using you and discuss how those goals will be obtained. Listen to their problems and questions and provide insightful answers and support to keep them moving forward to their goals.

Coaches are well sought after online for those who have good knowledge or experience in a certain area. Use what you know about a topic and provide a coaching service to others to help them become an expert like you in the same field.

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