My Internet Business Success Formula for Beginners: Your Proven Path to Success in 2021

To put it mildly, online businesses are generating millionaires en masse and this is the best time in all of human history to jump online and create wealth for yourself and your loved ones faster than you ever thought possible. This is not utopian.

It used to take companies at least a hundred years to grow from humble beginnings to global brands. Global brands like P&G (1837), Nestlé (1866), Heineken (1864) easily come to mind.

On the other hand, Microsoft (1975), Apple (1976), Amazon (1994), and Google (1998) took less than 10 years to become household names.

Going big isn’t limited to tech giants. People are making a killing online in fields as varied and mundane as online training, fitness, and writing (also called blogging).

Take Brendon Burchard for example. He is an online trainer who started around 2009. Today he has more than 3 million students in more than 100 countries. Hiss’ impact is so massive that Oprah refers to him as “One of the Most Successful Online Trainers Ever.” The net worth of him is estimated at N22million.

Another example is Ramit Sethi. He launched his first blog in 2004 and in 2018 he was featured in Fortune and Forbes simultaneously. In the same year, Forbes featured Ramit alongside Warren Buffet and estimated his net worth at $25 million.

Making it big is not limited to men. Chalene Johnson, the global fitness icon, has an estimated net worth of $10 million while Marie Forleo has an estimated net worth of $14 million.

While Chalene Johnson has been a household name as a fitness trainer for over 30 years, Marie Forleo rose to fame in the last 10 years with the help of Marie TV, online training, coaching, and books.

The fastest, easiest, and cheapest way to succeed is to harness the power of the Internet. As internet gurus say, to be successful online, do what works. In short, don’t try to reinvent the wheel.

The Internet is a paradigm shift. While it has created enormous wealth for those who dominate its ecosystem, it has also accelerated the gap between those who know how it works and those who don’t.

Generally, every time there is a paradigm shift, the knowledge base is reset to zero and everyone has to learn all over again. To learn fast and easy, it is necessary to follow a proven path.

In order to be successful and prosper, you need to follow what I call the Internet Trading Success Formula for Beginners. As you know, there is order in the universe. If there were no order, there would be chaos. My Internet Business Success Formula for Beginners is a short but powerful framework that shows you how to succeed online. If you follow it, you will succeed. If you don’t, you will fail.

The formula consists of 7 steps. Are here:

Learn day and night

Despite its apparent plug and play simplicity, the Internet is a complex ecosystem. To be successful, you need to learn day and night because change is fast and furious, with basic algorithms changing overnight. Learning allows you to have depth and breadth and keeps you evergreen.

Here are the highlights of the things you should learn. Learn:

• How the Internet is evolving

• How to be visible

• How to connect with people

• How to build a list

• How to write scripts

• How to create products

• How to make your products recognizable

• How to earn money online

Be visible offline and online

Being visible requires you to increase your online and offline footprints so that you become known and begin to build credibility and seriousness. Here are the things you should do to increase your visibility:

• Develop perennial intellectual properties (books, courses, learning guides, etc.)

• Have a base of operations (website or blog)

• Have embassies (social media platforms)

• Have listening posts (mailing lists, social media platforms, podcasts)

• Have satellite towns/cities (guest posting, befriending social media influencers).

• Organize events and develop your own platforms, such as the YouTube channel.

• Court the media

build relationships

To draw strangers, visitors, friends, and former enemies into loyal customers and true fans, you need to build relationships. While it makes sense to have a broad relationship base, it’s more important to build a true fan base. Here are the things you need to do to build relationships:

• Give out valuables, like books and e-books, for free

• Communicate with your other online influencers

• Extend a helping hand to strangers you meet by offering advice.

• Help with specialized information whenever you can, example in forums

• Make recommendations in areas in which you have authority; do not be shy

• Unite people as a connector

• Ask for help wherever you are challenged, again, don’t be shy.

Create a mailing list

Make building your mailing list a priority so you have someone to market to and sell to tomorrow. There’s a raging debate online about what comes first: the product mailing list. As a beginner, don’t get distracted by these chicken-and-egg arguments. List and product are the two sides of the same coin: your online business. Just keep in mind that with a listing you can market what you don’t have through affiliate marketing, but a product with a listing gets you nowhere. Also keep in mind that as a beginner you will not be able to do affiliate marketing. So build your list and search for your product fairly. Here’s how to approach building your list:

• Start a mailing list from day one (at least now you know).

• Start with low hanging fruit, medium hanging fruit and finally high hanging fruit.

• Create a segmented list that allows you to personalize your messages

• Employ an affordable email or contact management system

• Invite people personally to join your list and be persistent

• Give away valuable incentives such as books, video lessons, etc.

• Continue like this day and night

Have something to offer (Create products)

Create products to sell so you can add more value to your followers. People will follow you because you have something to offer them. When you do, you’ll make money, but making money shouldn’t be your primary consideration. When you do it right, the money will come. These are the things you should do:

• Equip yourself with knowledge and wisdom

• Write and perfect your intellectual properties

• Develop irresistible races, events and platforms

• Master the technologies required for production

• Master the technologies required for delivery

• Be consistent and focus on things that will last, evergreen trees

• Specialize so people know what you stand for

Learn to market and sell online

Marketing and sales are the axes that generate money. The most successful online business owners excel in marketing and sales. Invest a large percentage of what you generate in marketing to generate more sales and continue to grow your business. Here are the things you need to do to boost marketing and sales:

• Learn how to use marketing to grow your business

• Understand the psychology of buying and buyer behavior.

• Learn how to build your business portfolio

• Learn how to build and optimize your sales funnel

• Learn how to create sales scripts that convert visitors into customers.

• Learn how to use social media for marketing

• Learn how to set up your landing pages

• Continue to sell with enthusiasm because selling is human, but don’t be a salesperson.

Master strategies to win in the long term

Succeeding in a sustainable way online is a marathon. Commit to it for the long term. Develop insights into how the online effort is being monetized and where money is being made along the value chain. Know that Rome, as they say, was not built in a day. If you are looking for online business like a sprint or a hundred meter dash, you will give up too soon and fail. These are the things you should do at this time:

• Master and refine your winning game plan

• Master the four phases of online business (learning, audience, product, sales)

• Develop a long-term vision

• Keep things always green

• Diversify into adjacent winning areas as you become more confident.

• Develop offline assets to mitigate your online risks.

• Repeat and build on the principles of excellence

There you have it, the seven planks that make up my formula for Internet business success. You may be wondering, where is the technology, after all we are talking about the internet. The truth is that technology permeates all seven steps, but technology remains what it is, an enabler. Technology allows you to scale and reach thousands online, but in the end relationships win. So we’re talking high-tech, high-touch.

Ultimately, you need to master technologies that allow you to learn day and night, be visible off and online, build relationships, build a mailing list, create products, learn to market and sell online, and master strategies to win long term.

Knowing the technical aspects or technology is important because you are dealing with machines and technology will help you scale and automate, but it is not a prime condition for success as a beginner.

Online success is anchored in the two magic numbers: a customer base of 10,000 and a monthly recurring income of $10,000. You can easily achieve both if you follow the 7 Step Formula for Internet Business Success that I have given you in this article. Once you hit these numbers, you’re ready to leverage technology to scale. That will be the subject of another article.