LESSON #2: What is an online business?

By | June 12, 2008

Contrary to what some of the so-called guru’s may say, having an online business is not for everyone. But in order to judge whether it’s a good fit for you, we first must define what an online business is and what it isn’t.

Please watch the following video:

Main points:

  • My personal definition is that it’s a business which is conducted primarily on the internet.

  • A website is NOT an online business.

  • It’s not a job.

  • There may be risk involved, but it’s all about how you perceive it.

  • If you’re afraid to start a business, then you need to either…

    a) get over your fear

    or

    b) decide to be happy with your job, and forget about starting a business

    Action steps:

    1) Answer the following question honestly:

    Do I want to run my own business?

    As always, you are welcome to post your questions and comments below.

    Have a great day!

  • 835 thoughts on “LESSON #2: What is an online business?

    1. Mavis

      Hi Eric,
      Yes I am ready for my own business. I have had several businesses before but not online, I never found anyone who started at the beginning like you are doing and I am truly grateful for this opportunity. I have tried numerous programs and no one delivered on their promises, I know you are a Godsend. I am elated and anxiously awaiting each lesson.
      Blessings.

      Reply
      1. Nathanie Etinoffe

        Hello Eric,

        I am enjoying this newsletter.

        I have had the time of my life starting an
        online business and although this was
        no walk in the park, or picnic, I will always
        be happy I started. I came in without an iota
        of business “savviness” or business sense.
        The pains I have endured to understand the
        jargon of the industry has empowered me
        and provided me the confidence that even
        if I have experienced redirection along my
        journey, I am a thriving, do what I got to,
        determined entrepreneur. I’d encourage
        anyone to stick it out, if it should take years,
        and develop their muscle for business.
        You’ll become unstoppable from doing
        so.Again if you tell yourself you can’t,
        you’re right about that too. Best wishes to all.

        Reply
      2. David Morton

        Hello All, Thank you for the good info! I have my own online Business, it’s SFI an Affiliate Business! I’m doing very well for my first 6 Months! Thanks again.

        Reply
    2. Mike

      Hey Eric,
      Thanks for the offer/clone sale. I have a few quick questions for you… What if one has already invested in your previous stock market sale (Forex)? Is that placing that previous product in an “out of date” status? And, If so, Is there any way of seeing a price reduction for your Forex buyers?

      Wishing you nothing but the best!
      Mike

      Reply
      1. Micah

        Hello Mike,

        No, they are totally different courses. The Daily Trading System focuses on Forex, whereas the Winning Trade System is a stock options course.

        Reply
    3. Billy Young

      Hello, Eric

      Was finally able to watch your second lesson, after a few days of having to get some other things taken care of.

      For me, wanting to do an online business is a good route to go. This is mainly due to my physical problems preventing me from doing other types of work anymore, and those don’t eventually earn as much either. Plus an online business is something I can generally work on at anytime of the day or night. If I have to stop for some reason, I can come back to it later in the day….Basically, I plan on making it a good fit for me, in one way or another.

      Looking forward to more lessons. They are allowing me to learn at my own pace in my own time, especially when sometimes it occasionally takes me more than once to understand something. Thank you for creating them, as I am more than willing to learn how to do what you are willing to teach.

      Thank you, sir.

      Reply
    4. Marva Drummond

      Eric,

      Are you able to convert your videos into text format, such as PDF version of the words spoken on the video?

      Reply
      1. Micah

        Hello Marva,

        This is something that we might do after the 100 lesson series has been completed.

        Thank you for your feedback.

        Reply
    5. Cheryl

      I’m just starting. Watching you videos help a lot (keep them coming). Thank for for all information. Hope it all works to help me and my family a better life! I WISH It was in PDF so I could save them. Thanks

      Reply
    6. Audrey

      YES I want to run my own business. I prefer for it to be online and I am so ready to move to lesson 3!

      Reply
    7. Cary Dovat

      Eric,

      Hello.

      Did anyone cancel or not pay for the PLR Stock Market Product offer?

      I would immediately buy that offer now if it were to become available again.

      Thanks and Regards,

      Reply
    8. Sandra

      I am interested in an online business for a very long time. I have even spend a lot of money maxing out credit card and more so am currently repaying a loan. I have also attended several seminars in regards to online business but nothing have worked so far. I would surely appreciate any guidance as I continue to pursue success.

      Reply
      1. Micah

        Hello Sandra,

        We recommend that you hang in there with Eric’s free video lessons here at http://www.ericstips.com/. Eric’s lessons have helped many people to go from beginners, to successful online business owners!

        The lessons are presented in a sequence that starts at the very beginning, where the very first things you need to learn about online marketing are shown in the first few lessons!

        If you’re interested to go even more in-depth with marketing, you might also want to take part in Eric’s coaching club:
        http://www.realguysrealmoney.com

        Eric, Paul, and Jeff are expert marketers. They will be a great resource for you!

        What is included in the Coaching Club:
        – 2 Live Coaching Webinars Per Month with Jeff Wellman, Paul Counts, and Eric Holmlund
        – Access to the Archive of All Coaching Calls
        – Monthly High Quality PLR Product
        – Massive Video Training Library
        – Community Forum (JV’s, Support, and More)
        – Articles, Bonuses, and More
        http://www.realguysrealmoney.com/go17/

        Reply
    9. Dan Merryday

      Hi Eric,

      Continuing from what I learned in Lesson 1, not everybody will start an online business, and not everybody who does start one will continue until they succeed. It seems that the internet “get rich quick” urban legend is attracting many people who are not necessarily a good fit for any kind of business.

      Your video reminds me that at the fundamental level, I still need to build a solid business (have a plan). So far, I am making money, but it is still from “websites”, not online businesses.

      Cheers,

      Reply
    10. Susan

      Hi Eric,
      I used to live in Fort Collins, too. Now I’m up the mountain and would like to succeed at an online business. The job market in small mountain towns- no matter how big a tourist trap- is such that owning your own business is practically a requirement. I’ve never done that before, so I’m appreciating your step by step approach. I have it in my mind that an online business is the way to go, as it won’t matter where in the world I’m at or how many fires or floods I need to endure:-)

      Reply
    11. ulrich kellerer

      Hi Eric,
      that`s Ulrich the german. Yes I want my own online buisness!!!

      Reply
    12. Eliza

      Hi Eric,

      By now I can imagine all the essential elements that are needed to start an IM business:-
      1. Mindset
      2. Awesome IM Coach
      3. Technical skills and knowledge
      4. A system that works
      5. Money
      6. Time
      Hope I could make it. Please let me know if I miss any point here.

      Cheers
      Eliza

      Reply
    13. WILLIAM AND WILMA GREENWOOD

      YES WE BADLY WANT THIS TYPE OF BUSINESS BECAUSE OF THE FREEDOM IT GIVES YOU AND THE MONEY AND YOU CAN ( WORK / ENJOY ) THIS IS NOT A JOB YES THIS WE GET WE DO NOT WANT TO REPLACE OUR PRESENT JOB WITH ANOTHER BUSINESS .YES ………… WE HAVE HAD A JANITORIAL BUSINESS FOR 5 YEARS PLUS DOING WHAT WE ARE DOING NOW …THIS IS NOT WHAT WE ARE LOOKING FOR EITHER ….. THE LONG HOURS WILL BECOME SHORT HOURS AFTER YOU LEARN ANY TYPE OF BUSINESS . ON TO LESSON THREE
      wiliam and wilma greenwood we need to be able to have this type of business as we are getting to old to work an 8 hour job using our body we want to use our heads and we really want this type of business ERIC AND TO YOUR TEAM AND WE ARE WILLING TO DO WHAT IT TAKES …….IT HAD TAKING A LOT OT DO WHAT WE DO NOW SINCE 1980 AND WE WANT TO GET THE H… OUT

      Reply
    14. Larry

      I am 91 years old in good health.Looking to have a way to earn $5,000 to 10,000 per month. This would supplement my income and put me and my wife in a comfortable retirement position. I don;t know if this classifies as an internet business; if so and your program (lessons) can get me there, I am ready to do it and rest assured with total effort.
      I am not looking for a business at my age to become a millionaire, just to be able to obtain the money I mentioned above, If it got more than that—great!!!

      Larry m.

      Reply
    15. Dan

      Hi Eric,

      Thanks for your tips, really looking forward to implementing your tips into some real action. Ive been sitting on the sidelines for too long and am determined to take the necessary steps.

      So, in answer to your question….YES, I’m definitely interested in creating my own business!!

      Cheers!

      Dan

      Reply
    16. Jackie Rousseau

      Hi Eric,

      I am so ready to have an online business and also be successful. I feel like I am at the right place.So keep the lessons coming!

      Reply
    17. Darmi

      Eric, I was a business women for 19 years and close it due to economic hardship, technology and other reasons.I know running a business is hard but rewarding to your self. I was looking in to IM for long time but did not have right teacher who can teach me step by step.
      I am ready to dive in with your help & direction because I am at the stage of my life where I need my time off and do what I always wanted to do is help others. This can be possible with IM with money and time off with auto pilot business.
      Thanks

      Reply
    18. Carol Chatman

      YES! I want to run my own business. I was laid off from work over a year ago. Now, I am looking forward to the help given me to succeed.

      Reply
    19. PETER

      Yes i want to run my own online business Eric, to supplement what i earn from my offline business. Since resigning from the hotel industry in 2006 i have never turned back, self employment is the best because one has a direct control of their life without authority from the “boss”.

      Reply
    20. Nur Wijaya Asmara

      Hello Eric….
      Thanks again with your interesting video.
      You tell the truth… and my answer is :
      YES I WANT TO RUN MY OWN BUSINESS. AND I WILL GET OVER MY FEARS.
      Waiting your next lessons….

      best regards,
      Nur Wijaya Asmara

      Reply
    21. Trang

      YES!! I do like to have my own online business.

      By the way, thanks for permitting me to download your 29 videos. I spent all night to download them and was very interested in watching them.

      Reply
    22. alan rennie

      Hi Eric,
      Yes I want to start an online buisness.
      Many thanks for the lessons, god bless.
      Alan and Karen Rennie in NZ.

      Reply
    23. glo

      if I had a business I would want somewhat of an on hands approach, its the only way to know
      what is happening and how quickly its moving. you are correct re: asking family/spouse I’d say 90% at least are negative and can discourage one almost to giving up without giving things a chance. You are sounding honest which is what I have not heard from other on line people who profess to have a business on line. thank you. I’m at least half convinced you are for real. glo

      Reply
    24. Michael Witkowski

      Hello Eric,
      First of all it’s not difficult to know we share the same faith, having said that I feel I can be transparent even with those who may be reading this, I have no pride to damage. I started about a year ago diving into this industry with zero knowledge and made the same discoveries so many others have, some expensive some not. I have made it a point not to look behind but ahead and count all mistakes as learning. I am determined to succeed at this for my daughters sake as well as mine. We have hearts for missions but as yet I have not been able to make anything work online so the lack of resources have become critical. I have been without work for far to long and the three of us have had a rough12 years on our own. I’m trying to change our situation so my girls can know they can believe in miracles, Time seems to have all but run out. So this is where I start again. I have a Website, a domain and auto responder but the rabbit trails In learning are endless and this is the last investment we can make. So much could have been resolved with a simple phone call but I spend on whole packages just to find a few answers. Seek, Knock, Ask! That’s where we are. My question is can you help? I like your program but the upset is at this point out of the equation and I need a breakthrough!

      Reply
      1. Micah

        Hello Michael,

        We recommend that you hang in there with Eric’s free video lessons at http://www.ericstips.com/. Eric’s lessons have helped many people to go from beginners, to successful online business owners!

        The lessons are presented in a sequence that starts at the very beginning, where the very first things you need to learn about online marketing are shown in the first few lessons!

        If you’re interested to go even more in-depth with marketing, you might also want to take part in Eric’s coaching club:
        http://www.realguysrealmoney.com

        Eric, Paul, and Jeff are expert marketers. They will be a great resource for you!

        What is included in the Coaching Club:
        – 2 Live Coaching Webinars Per Month with Jeff Wellman, Paul Counts, and Eric Holmlund
        – Access to the Archive of All Coaching Calls
        – Monthly High Quality PLR Product
        – Massive Video Training Library
        – Community Forum (JV’s, Support, and More)
        – Articles, Bonuses, and More
        http://www.realguysrealmoney.com/go17/

        Reply
    25. Rick Hughes

      Yes Eric I do want to start my own on-line business. Thank you.

      Reply
    26. Terry Carroll

      Hi Eric

      Just watched lesson #2 and I agree that “do I want to” is fundamental to continuing or not.

      In my case, I categorically DO!

      I have been MD of a consultancy practice for 15 years and have become very disillusioned with the UK construction industry. I have now handed over the reins to a younger less cynical partner and decided to work only 2 days per week in the business.

      This is now giving me time to research what I have wanted to do for some time – ie I want to build one or more internet businesses. So your programme seems to me to be the initial way forward and I am really looking forward to the course unfolding.

      Good luck to us all!

      Terry

      Reply
    27. stephanie

      yes, I would like to learn how to make money with affiliate marketing.
      I have a blog that I had to redo, and a website that is mostly redirect links.

      Reply
    28. Sanjay

      Hi Eric,
      I am from India and am committed to have my own on line business. I am a starter.
      What I have found that, Majority of the successful on line business owners are from USA and some from countries like Australia, Canada etc.
      How do you rate a success possibility of on line business from India.
      I will very much appreciate your comments on the above

      Reply
    29. Steve

      Hi Eric,
      This question doesn’t really have any thing to do with this lesson, but I wanted to get it answered while it’s on my mind. Once I have established a sizable list can it be used to promote any product or business or should it stay in line with the original offer that the name and e-mail generated it?

      Reply
      1. Micah

        Hello Steve,

        It’s best to keep your promotions in line with what your users signed up for. Your list will be much more responsive to your offers. You’ll also get far fewer spam complaints that way!

        Reply
    30. Misspressy

      Yes Eric, I want my own online business to support my retirement. If I can make it under your guidance even a simple passive income will be greatly appreciated. Thank you very much for your tips, I pray I can apply them all.

      Reply
    31. Diana

      Do I WANT to run a business?

      No, actually, I don’t. I want to let my daughter run the business while I do all the fun stuff. The thing is, I don’t have a choice: I have been forced to retire; I can not work outside my home any more, but I’d really like to have the money it takes to do things like, oh, pay the mortgage, get a car that runs, pay for $8,000 a month prescriptions…stuff like that.

      I don’t know if desperation is enough motive, but it’s what I’ve got. 😉 Of course, for me, ‘fun stuff’ includes writing, playing around with the internet, writing, researching…yeah, I’m an English geek. My daughter, however, is a whiz with the business end of things. We can do this. 😉

      Reply
    32. Daniel

      Hi Eric, due to poor internet connection down here, I sometimes dread video lessons. How viable is it having these lessons in PDF format? — I mean all the lessons! Daniel.

      Reply
      1. Micah

        Hello Daniel,

        Unfortunately, we don’t currently have plans to transcribe all of the lessons.

        Reply
    33. Irene Tamblyn

      Hi Eric,
      I have a small eBay store that I have been running for 4 years now…. Have had great times, good times and slow times… but still enjoy the challenge.
      Yes I am ready to start my online business…. … 🙂

      Reply
    34. tiffany

      Yes I really would like to have a online business. I have tried other things like working from home and invested into the and I wouldnt get hours that would generate income. I heard about your from Sabrina O’Malone website after listening to her on Dr. Dobson family talk.

      Reply
    35. Arlan

      Excellent vid… I have been struggling online for years as an IM. Its not as easy as buying the latest gadget, minisite, software, plug-in, blah blah blah and making a million bucks as the guru’s say and no I’m not bashing the guru’s either… But, then again, I have never given up when I didn’t make money on some of their products and gadgets either. Strange that you should bring up ebay. I actually just tried ebay last year and yes it is profitable if you like selling physical products but nothing bad to say about it either since it keeps the money coming in consistently. Am I an ebay powerseller? No! But, I am top rated. But these tips actually help me make sense of my online career thus far and puts things into perspective, thanks Eric.

      Reply
    36. Isabel

      Hello!! I am a total newbie when it comes to affiliate or Internet marketing business. I would like to pursue this venture, specifically to sell products in my chosen niche.

      How do I go about building a website? I have no experience but have read various ways to go about it, including WordPress, Weebly, Shopify, etc. I’m overwhelmed by all the advice about this topic and was hoping you could direct me to the easiest and quickest way to build a website. Can it actually be accomplished in a matter of hours as some people claim, even for the inexperienced and totally tech-inept such as myself? Thanks for your help.

      Reply
    37. Chris Black

      Hi Eric

      I so agree with the question you posed today. Do you want to run your own business?

      I would even go one step further and say – from 16 years of experience – that not everyone is gifted, nor has the internal make up to start and run their own business, whether it be an online business, or an offline one.

      My organization has been teaching people to start up and run their own offline businesses for the past 17 years. One thing we realized is that not everyone is cut out to run their own business. That is why all of our prospective students need to go through a series of tests to ascertain whether they have enough entrepreneurial inclination to start up, run and make a success of their own business. We have found this to be an extremely valuable tool and that has been the starting point for 72% of those we train making a success of their business.

      So I agree, people need to start with being very clear about WHY they want to go into their own business.

      ON a personal note I am a believer too and my business is my ministry. I am also a newbie at this online business thing, so look forward to learning as much as I can.

      Chris

      Reply
    38. Leslie Denning

      Hi Eric. I’ve been an entrepreneur for years, but I recently sold my brick-and-mortar business so I could concentrate on my online business. I am interested in this course because I want to develop multiple streams of income.

      All the best,
      Leslie

      Reply
    39. Warren Contreras

      I ran a brick and mortar business for 30 years before I retired and to be honest, I don’t want a business now, I just want the money. That’s why I bought the PLR Firesale so I could put up some sites and send traffic, but not work any set schedule or have people working for me that I have to supervise.

      Reply
    40. Larry Smith

      Absolutely YES I want an online business. I am waiting with eager anticipation for the next video!
      I want a membership website and I need some direction on what is the best software to use. Thank you! 🙂

      Reply

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