Internet Marketing 4 Noobs

I’m a fan of Rich Schefren.

I have stated in previous posts that I have finished reading Rich Schefren’s Internet Business Manifesto. Here’s a summary of what I learnt.

Internet Business Manifesto Series: Part 1

Rich Schefren states that the Internet is still in it’s “Wild West” days where everyone can come in, select a “hot niche” and start to make money on the Internet. But once big multi-million dollar companies with deep pockets of money and talent comes in, all those small businesses run by self-employed people will go out of business.

So it’s crucial that you build a REAL solid business in your niche before those big companies comes in. You want your online business in that particular niche to be so good, big companies wouldn’t want to compete with you.

However, most internet marketers are not really building a business. Rich Schefren explains several reasons why.

The first reason is the way most internet marketers think. Their mindset. Most have the OPPORTUNISTIC mindset, while successful internet marketers think STRATEGICALLY. Rich Schefren defines the Opportunistic mindset perfectly with this paragraph taken from the first eBook in the series.

“An opportunity seeker is always looking for their big opportunity to make lots of money from the hot opportunity of the moment. Their only criteria is, “Can I make money from this?” So today it’s Adsense, tomorrow it something else, and yesterday it was some other hot concept already forgotten. Opportunity seekers buy lots of products, and they use only a few of them, and the ones they do use get abandoned when the next so-called “easy” way to make money comes by. The question they ask themselves is, “What’s the easiest way for me to make money right now?” “

Are you an Opportunity seeker?

(I’m gulity!) I tried Google Arbitrage back in March, April and May after thinking that it will make me quick money. Rich Schefren describes exactly the mistake I was making, and he wrote the Internet Business Manifesto in 2006.

This shows Rich Schefren’s intimate understanding of business building, and that many Internet Marketing newbies are still committing this mistake.

The second reason is that most Internet Marketers have a poorly designed business plan. They have no vision of what they want to build, with only a income goal in mind. (I’m guilty!)

And since no vision and no business plan, most Internet Marketers tend to do everything themselves. (I’m gulity!) Rich Schefren explained this VERY well with his trademarked diagram of the countless things a real Internet Marketing business have to do. It’s on the front cover of the first eBook in the Internet Marketing Manifesto series, but to understand it better download the series and take a look.

And due to lack of an elaborate business plan, most internet marketers do not realize there’s simply TOO MUCH to do and they can’t do it themselves and need other people’s talent to help them. (I’m guilty!) Instead of doing everything themselves, they need to find talented people and build teams together.

And once a team is build, Internet Marketers have to use leverage and scalability to build their business. They also have to systemize the business so that it can run and continuously improve on its own.

Finally, Internet Marketers have to keep a close watch on the numbers. They have to use the right metrics to measure the performance of their business.

That’s the end of the first part in this series. There are 3 in total to reflect what I learnt in each of the 3 eBooks, and they will be posted throughout the week.

If you are new to Internet Marketing, DOWNLOAD the Manifesto series and take a read. It will definitely help you save a lot of time and effort in achieving success in your Internet Marketing business.

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This entry was posted on Monday, August 13th, 2007 at 9:30 am and is filed under Internet Marketing Recommendations, Personal. 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.