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Thread: How to start with the online business?

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    DomainMagnate's Avatar
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    How to start with the online business?

    Many friends who know what I do ask me how can they get started with this and I usually try to explain in general lines how this works, but then realize that it's better/easier to send them some good articles to read on the matter.

    Any suggestions on such articles? E.g. how to get started with online business for a complete newbie..

    ebooks could be good too, for complete newbies

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    Kovich's Avatar
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    I usually recommend starting small. In a blog post of mine (located here) I talk about starting with a goal of making just $10 a day - if you're less experienced with how the internet works, that could be even less. It's best to aim, at minimum, for enough to cover your costs. (Domain names, hosting, etc.) Some example methods of making money are GPT sites, affiliate networks, paid reviews, and more. People are also free to explore the option of starting their own services such as content creation, social bookmarking / directory submissions, etc.

    The most important thing to do is never give up and continue to put in a lot of hard work and effort (read more here) and if you want to continue making money to invest the profits back into the business.

    Let's imagine you live here in Pennsylvania (United States) where minimum wage is 7.15, if you manage to get a part-time job (25 hours a week) and work for 52 weeks (1 year) you will have made approximately $6,500 after taxes. This doesn't count other expenses such as eating your lunch, paying for fuel to drive to work, anything such as uniform expenses, etc. If you make $10 a day online for a year, you'll make $3,650. Interesting, right? So imagine if you were to step up the process and make 20$ a day - or more!

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    There's plenty of things to do online. It will depend on what skills your friend has or is interested it. Some of the ways to make money are:

    Selling websites
    Affiliate marketing
    Publishing
    Content creation
    Domaining
    Link Building and link sales
    SEO
    Web Design
    Web graphics
    Programming

    Quote Originally Posted by Kovich View Post
    The most important thing to do is never give up and continue to put in a lot of hard work and effort (read more here) and if you want to continue making money to invest the profits back into the business.
    Most people are doomed to failure with an online business. They shouldn't give up their day job unless they are making at least $100 per day.

    Quote Originally Posted by Kovich View Post
    Let's imagine you live here in Pennsylvania (United States) where minimum wage is 7.15, if you manage to get a part-time job (25 hours a week) and work for 52 weeks (1 year) you will have made approximately $6,500 after taxes. This doesn't count other expenses such as eating your lunch, paying for fuel to drive to work, anything such as uniform expenses, etc. If you make $10 a day online for a year, you'll make $3,650. Interesting, right? So imagine if you were to step up the process and make 20$ a day - or more!
    Don't give up the part-time job. That will motivate to take the online up a notch.

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    Oh, I wasn't trying to imply that one should give up their regular job! That would be a terrible idea. I was just trying to show that it's not too hard to begin making a salary that competes with your day job.

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    Quote Originally Posted by Kovich View Post
    Oh, I wasn't trying to imply that one should give up their regular job! That would be a terrible idea. I was just trying to show that it's not too hard to begin making a salary that competes with your day job.
    Giving up the regular job is a good idea.

    But the problem is that most people waste the extra time and gain little benefit from giving up the part-time jamie.

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    You shouldn't give up a steady source of income until you're positive you'll be able to make money online - so it would probably be best to wait until you've done a lot of research and started making somewhat of an income first.

    In my personal opinion, life isn't about money. For me it's about contributing to the world, and that's why I'm studying at a university for Biochemistry and Molecular Biology, and hopefully going into Biomedical Engineering. I'll be able to help advance us scientifically and work to help humanity overcome its biological limitations. Fortunately for me, this industry could produce a six figure income. But since I also enjoy working online, and its a profitable hobby, it seems to be a win-win situation.

    So I say that you should try and find a career that makes you happy and fulfills your goals.
    But if you just have a part-time job at a grocery store or something, quit it and make your fortune online.

    I would never give up an education or a scientific career to make more money. Not in a million years.
    But that's just me. So I put myself through college and support myself financially through online work.

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    If your friend is a writer then this series on freelance writing could be a good place for him to start:

    How to Become a Freelance Writer | Writer Seven

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    thanks guys, but it's not quite that..
    These are usually serious people who ask me. Most have good jobs, like at microsoft or ibm, but are tired of all these and wanna know how they can become self employed. $10/day wouldn't cut it, neither would $50, but $100/day would be closer... Need some good articles explaining the general ideas, how it all works, how moneys are made and some plans and ways to start..


    Just found the rich jerk's ebook. Do you think it's a good guide for newbies?
    I got an old copy, but things haven't changed much.

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    I wouldn't trust any advice you get as a result of a sales page. In fact, the best way to make money is to sell material teaching other people how to make money. This has been proven time and time again. So write a fancy eBook and design a killer sales page - that'll get you an income.

    Now, I understand what you mean by "$10, 50$, etc. wouldn't cut it," but if your friends are as serious as you claim they would understand that you need to start small and work your way up. If you're planning on a million dollars in a week, you might as well just not even bother. You start with 10$ a day - and you reinvest that into your business, now you're making 50$ a day and you reinvest that - now maybe you're making over $100 - then 300$, etc. You take small steps and start off at the bottom and you work your way up.

    Even if you have money set aside, it's not wise to just throw that into something. The reason I recommend starting small and reinvesting those funds is because it helps you gain experience and learn, which will then help you all throughout your money-making journey.

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    Kovich, you're right about starting small of course, what I mean is that I'm not after an actual, detailed guide to getting some sites up and running, earnings, but rather a more general explanation on a very basic level of how things work and what different ways there are to make decent $$

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