Internet Marketing 4 Noobs

This part will cover what I learnt in Rich Schefren’s 2nd eBook in his Internet Business Manifesto series.

Internet Business Manifesto Series: The Missing Chapter

In “The Missing Chapter,” Rich Schefren elaborates more on why most Internet Marketers are OPPORTUNISTIC, and goes deeper into important considerations when coming up with a business plan.

The 2 questions which are key decisions in your life

Here’s Rich Schefren explains the reason why most Internet Marketers are opportunistic.

It’s simply because they do not realize that it is a key decision which

• they will have to spend most of the time on
• will change their life

Rich Schefren compares to selecting the niche you want to compete in Internet Marketing to selecting a life partner, who you will be marrying.

Most people do realize that who they marriage is a very important decision. Rich Schefren states the following in The Missing Chapter.

I think that you intuitively understand that your choice of a partner for marriage certainly makes a difference in your life. And that’s why we tend to treat this decision very carefully.

Generally we don’t decide we want to get married and then pick the person who seems to be the most desperate to get married and propose to them. At least I HOPE that wasn’t or isn’t your strategy.

Rich Schefren then gives some statistics. 50% of marriages in the U.S. eventually results in a divorce, while 70% to 90% of businesses started today will fail. He then comes to the conclusion that most people think much more carefully about the life partner they want to spend their lives with, then the business they want to spend their time on.

Most people do not realize that selecting a niche to compete in Internet Marketing is as important as selecting their life partners. (I’m guilty!) They don’t realize that selecting a niche for their Internet business will take up a lot of their time and will decide whether they will be successful or get stressed out trying to be.

This underlies the reason behind the opportunistic mindset of most Internet Marketers.

Find Your Strengths and Build Your Business Around It

When selecting on the correct niche your Internet business is going to compete it, it is very important to base this important decision on what you excel at and enjoy doing. This will give you the edge to compete against your competitors and win.

Rich Schefren states that you Play To Win Or Don’t Play At All, and finding your strength is very important to win.

I just want to highlight a part of his eBook that describes how most Internet Marketers are taught when selecting the niche to compete in. He describes the process in the following order. If you are in Internet Marketing for a some time this should be familiar to you.

1. Find lucrative niches
2. Analyze the selected niches
3. Survey the market and find out what they need to know
4. Create the product
5. Design the sales process
6. Set up the marketing channels
7. Get Rich.

Rich Schefren states that going through this process without an overall strategy is like looking for someone who is desperate to get married and proposing to that person. And proposing to desperate wife/husband wannabes is what most Internet Marketers are doing. (I’m guilty!)

When I read this portion, I laughed. He describes each of these process in a “Been there, done that” manner, which is particularly amusing. And since I had done this, I’m actually “proposing to someone desperate to get married”.

Most Internet Marketers mistake this process as their overall strategy, when it’s actually just a product development process. This is mistake is one of the reasons why online marketers continually change their focus, their websites. Jumping from niche to niche and changing their “business strategy” with it.

But when you find out what is your strengths and build your business around it, you are building a business strategy. Each of us are unique, and if you strategize based on your unique strengths, you are building a unique business. With a unique strategy, you can have the edge to win.

He then goes on to explain clearly the difference between interest and strengths, and to be careful not to mistake one for the other. Rich Schefren has devoted quite a fair portion of The Missing Chapter on finding your strengths. Unfortunately for myself, I still searching myself on what are my strengths. Will have to work hard on this.

Right, this is the main jeez of The Missing Chapter. The final part to this series will arrive shortly.

Meanwhile, here’s are the links to download the Manifesto Series.

Internet Business Manifesto Series

And here’s the link to Part 1 of this “What I learnt From Rich Schefren” series.

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This entry was posted on Wednesday, August 15th, 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.