LESSON #3: Is an online business right for me?

By | June 14, 2008

Unlike many of the internet marketing teachers, I’m not going to tell you that ANYONE can successfully run an online business.

The fact is that it takes hard work to build a business, and there are certain abilities that will greatly increase your chances of success.

Watch this video to see what I mean…

Main points:

  • The startup COST for an online business is a huge variable, ranging from zero to millions. The good news is that it can be very cheap: less than $100

  • The more TIME you can devote to it the better, but don’t let a lack of time stop you. If you can only devote a small amount of time at first, that’s OK.

  • Stop buying stuff! You don’t need it. (unless you really know what you’re doing)

  • Stay out of debt! It’s not necessary to use debt to start this kind of business.

  • You need to be willing to be a marketer. If you don’t have any marketing experience, then at least:

    a) you must be OK with marketing
    b) you’ll need to learn it along the way

  • Same thing for technical aptitude. You DON’T need to be a computer expert, but you must be comfortable with computers and willing to learn.

    Action steps:

    1) Right now, you simply need to commit to the following.

    a) I’m willing to be a marketer
    b) I like computers and the internet
    c) I’m willing and able to learn (and I know it will take work)

    Take some time and be honest with yourself (and don’t WORRY about WHAT you’ll need to learn. That’s what I’m here for, and I’ll guide you through the entire process.) If you are confident in those three things, then I’d say you meet the basic requirements for being able to start an online business, and you’re ready to move onto the next lesson, in which we’ll explore several different types of online businesses.

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

    Have a great day!

  • 675 thoughts on “LESSON #3: Is an online business right for me?

    1. kevin stainbrook

      hi Eric
      this is kevin in what i am doing now i have learned you never stop learning and i am eger to learn some thing new every day and with this cores i feel that i have started at the begining not some where in the middle not knowing where to go next so please show me more

      Reply
    2. Anonymous

      I really appreciate these lessons! I do meet all the criteria mentioned in lesson #3. Also I am glad you told people to stop buying stuff.I have bought so much stuff already I now have my self in a bit of a financial jam. I look forward to lesson #4.

      Reply
    3. Stan P.

      Awesome job!! Your are the first to actually start from scratch to help me understand how to start and maintain my online business. I want to thank you. Also thank you for telling me to STOP BUYING STUFF!! I’ve bought way to much and your advise hit me on the head hard!! God Bless You and Your Beautiful Family!! Keep up the good work..

      Reply
    4. Tom Morris

      Hello People,
      I just wanted to tell you that I was very unsatisfied with my job and scared everyday about going to work, being at work, and performing. It was no fun and quite a struggle. To make a long story short. I retired in 1998, bought a computer and began trying to make money on the internet like all the reports said you could. I believed that I really could make it, but began having problems with the opportunities I bought. When that happened I’d drop that program hoping to find an easier opportunity and bought another one. This has gone on since 1998 and I am $35,000 in credit card debt for all the charges I made mostly buying programs, failing and buying more programs. It becomes like a drug and still is, but I am learning more about stopping buying. I appreciate what you said about don’t buy stuff. That’s my main quest now. I’m trying to make it with what I have already, though some of that stuff might be outdated. Heed Eric’s warning about buying stuff you don’t need.

      Reply
    5. Nick Dugan

      Hi Eric,

      I’d just like to say that I wish I had come across your blog a coouple of months ago because it would have saved me money and also put me on the right path toward doing something that regardless of all the so called “guru’s” and their “get rich quick” schemes being shoved down your throat, I actually have become quite dedicated to achieving an income (whether small or large) doing internet marketing.

      I look forward to your next informative tip.

      Many thanks

      Nick Dugan

      Reply
    6. Dan

      Enjoyed the video. I am focusing initially on Affiliate marketing the least risk starting out.

      Reply
    7. mary

      Hi Eric!
      I really liked this a lot. It is the first one I listened to, and it is different than anything I have found yet! You FEEL sincere.

      I feel good about you, and am excited about all the lessons and other products that may assist us.

      I do have a question: I believe in COMMUNITY- not COMPETITION, Although, I dont want to promote anything that I haven’t tried. what is your viewpoint on this?
      Thank you for your hard work! mary

      Reply
    8. Eric

      Hey, If you are not happy with your purchase, get a refund. For more good ideas on every day cash Go To…www.theeverydaycash.com

      Reply
    9. Anne

      Thanks for recommending this ebook, but please note that it now costs $27 (or $17 without bonuses).

      Reply
    10. Dave

      Eric I agree with you about stop buying all these other get rich quick thing that are on the market today. I did not say this before but I used to be a realitor in another state and I have been in customer service and sales most of my life.However not in a business in this way for myself but I am loooking forward to having my own.

      Reply
    11. kATHLEEN

      I have done sales and marketing in various department stores, colledge old school, keypunch data entry and binary codes. basics on lotus, word and can run windows7 now. sold makeup, tupperware, and on. Do ya think Ive got the stuff? Maybe?

      Reply
    12. Sutha Harahn

      Firstly I want say thank you .After your 3 lesson I understand about the online business.
      I would like to say my experience with on line business. Truly I have forced to find extra income for my life one year ago. I have looked into online for to make extra money and fallen into home based income opportunities and end up with more debt.
      I am always willing to learn in my path. I love to do business but I do not have any capital to start business. Now I have my hope to get succeed with your guide. Only one thing make me little scare which is I am not English. I have little English knowledge .Can I able to do online business with my English.

      Reply
    13. Bill Wagner

      Hi Erik,
      I’ve got to tell you that I am scared–because I’ve spent quite a bit of money to me and most of these guys keep referring me to each other and I think they are trading my money with each other.

      I think I’m getting a system that will go from A to Z with Z = making a commission somehow and I end up finding out that there is a missing component I need to buy in order to make it work. I buy that, then there is a mission component to that as well, etc.etc.

      I am a bi-vocational pastor looking to make just $100 a day so I can stay a pastor and not an employee. I have several affiliate partners now where I am selling their stuff, but not a single click that = a sale in a month.

      I have a felling I will need to get off my duff and just find a job.

      Thanks for letting me vent. BTW I liked that British dude who had the You Tube marketing software but, I am not close to being in that league yet–without going into debt, that is.

      Take care,
      Pastor Bill

      Reply
    14. Micah

      Hello Mary,

      It’s good to try products when you can, before promoting them. However, it’s not unethical to promote without trying them first.

      It would be unethical if you knew that a product was bad and decided to promote it in a positive light.

      However, you can often get the general sense of a product from other users, track record, refund rate, known quality of a vendor’s other products, etc.

      Reply
    15. Micah

      Hello Kathleen,

      It sounds like you’re a real go-getter! We can only take an educated guess, and say that online marketing will probably suit you just fine! 🙂

      Reply
    16. Micah

      Hello Anne,

      You are correct. It has been updated several times. AdSense Secrets is now up to the 5th edition.

      Reply
    17. Micah

      Hello Sutha,

      There are many successful marketers whose English was not perfect. It also sounds like you have a good grasp on English, where you’ll be able to learn very well.

      However, you might also want to consider marketing in your native language, as you might not find much competition. It could prove to be a great advantage for you!

      Reply
    18. Anna

      Thank you for staying clear and simple in your lesson, I found it easy to listen to and I am more interested in what’s to come.
      You are truly a great teacher, I am looking forward to all of your lessons!

      Reply
    19. Louise Douglas

      Thank you for the lessons. I have just watched Lesson 3 and I want to start an online business.

      Reply
    20. Dave Shreve

      Eric, I have been searching for you online for over a year. What a breath of fresh air you are. I certainly have been bombarded by “mentors” who want my money – lots of it – a little bit at a time.

      Your teaching is spot on. Because quality brings in sales, I’m sure you have a bunch of them. As for me, when I see a product I need that you are promoting, I won’t hesitate to purchase it.

      Thank you for your real interest in your students and for your genuineness and honesty.

      Reply
    21. Norman Jon Sawyer

      Eric, I had to go to your website to get more information cuz I did not see the third lesson until just recently.
      I would like to commit to seeing at least three per day if possible.
      I saw your 81st lesson via your website which to date all makes sense due to my desire to learn and having learned the right way and also mostly “The wrong way.”
      You make so much sense!
      Keep it coming!

      Reply
    22. Don Plourde

      I been marketing online for a long time and seen a lot of gurus and would be marketers, giving out a lot of misinformation. Which can lead the new marketer in circles and cause information overload. I would highly recommend anyone that is taking Eric’s course, that you are in the right place. Now listen to what he is telling you here because this guy is the real deal. I know what he is telling you is right, because I have made thousands of dollars on the internet and I did it following the concepts that Eric is teaching here.

      The internet needs more honest men like Eric.
      God Bless

      Reply
    23. Victor

      Hi Eric
      This is fantastic and informative but i think is quite slow for me. 0ne lesson a day isnt ok for me as i have the time to go through it.. I will like 4 lessons a day…because i have specially reserved time to study this. I need it to move faster.

      Reply
    24. Tina Eddy

      Excellent style and honesty Eric. You really know how to make someone think. It has been a hard road trying to break into this business. I used to think I was technologically savvy, that is until IM. There is soooo much more involved than I first understood. I started in this business because of an email that told me it was easy peasey push button success. I believed it until I began with the website creation and traffic generation. I’ve quit a few times or the frustration of failure would have driven me crazy. But I always come back with renewed energy. Now I’m comfortable enough to realize the work involved and I’m ok with it. Thanks for the lesson Eric. Looking forward to the next one.

      Reply
    25. Steve Figge

      Thanks for all your hard work on this site. Debby really loves carrying out internet research and it’s easy to understand why. Many of us hear all about the compelling medium you create very useful tips through your web blog and cause participation from some others on this point then our favorite child is always understanding a whole lot. Have fun with the rest of the year. You’re performing a wonderful job.

      Reply
    26. jim

      Thanks for your comments! Trying this internet ‘stuff’ for the first time. Did 22 years in st.commission & some retail sales.Can’t
      stand working with other salespeople any more…
      so maybe this can be the answer. any suggestions will be appreciated.

      Reply
    27. Anonymous

      Eric, movin’ on to lesson #4. Hope there’s something at the end of the rainbow. I know.If
      its to be its up to me.Thanks for sharing ‘the
      path’.

      Reply
    28. Yvonne

      Hi Eric, How refreshing to hear the “truth” about starting an online business. I tipped my toe into IM last summer, spent a lot of money (well, for me)on trying to get it up and running, which I now know I didn’t have to. Because my knowledge of operating a computer was limited to facebook and emails, it took a lot more work , so how much you work is somewhat determined by your knowledge. I loved learning so I didn’t mind and I had a lot of spare time. However, I did give up. I made the mistake of buying things here and there without really knowing what they would do….lol, so basically I was spending more money than I was trying to make. This summer the bug has hit again, I feel like I’m in the Newbie 201 class this time. I know what to expect and I know what NOT to do and as for buying product, I bought your NCIS program and I’m looking forward to making a success in my efforts this time. Thank you for your honesty and integrity, it lines up with my core values.

      Reply
    29. charles

      on some of the lessons the tape stop and u cant hear the rest of the lesson 4. could u please look into it 4 me. Thank u!

      Reply
    30. Maude Kovarik

      I posted 2 on Weebly today. I’ve had lots of experience but I always had it prof done. I want to learn how to do it manually to learn. My question is I’ve tried just about everything with Clickbank. What do you copy & paste the top set of info or the bottom. Also should it be in html or plain English? I have never had anyone tell me. Since I have never made 1 $ from Clickbank, I know that I must be doing something wrong. Thanks

      Reply
    31. Sandra

      Dear Eric:

      This is the best, the very best advice that I have heard in a long time from anyone…..”Stop Buying Stuff”

      Thank you for being honest, I am actually very tired of buying stuff, too much money spent and very little earned.

      I will most definitely take your advice!!!!

      Thank you very much,

      Cheers,
      Sandra

      Reply
    32. Steve

      Hi Eric
      I am another that has bought many programs that did not work. I also have 4 web hosts at this time. Will I be able to make some money before the end of these lessons?? I work hard at it and have the commitment it takes and I know a good bit about computers. What I obviously don’t know is how to make money online.
      Steve

      Reply
    33. Richard

      Hey its Richie in Dublin,
      Love your tips and i am only startig out now,got let go from my job,Eric i opened a clickbank account so do you reccomend i try to sell on this site or should i concentrate on other stuff.Thanks for your time.
      Richard

      Reply
    34. BARBARA

      Hi Eric,
      Like many others I started to get into the Internet Business as a means to supplement my income and hopefully be able to retire to a life that is comfortable and stress free. I committed myself to 4 months of getting things done and learning what to do. I am taking two courses that are expensive, but I was a newbie. I wish I had met you earlier Eric. I am very impressed with your values. I don’t think there are too many other people in this business with the same core values as you. MY goal from day one was to get a message out to all the people who are needlessly suffering from autoimmune diseases. They need to know what they are doing to their bodies. I almost died from Pancreatitis in 2002. I have a science background so I began searching for answers and found it in nature. I have just started to build a website where people can visit to learn the latest in ionized water systems, how to eat food in the proper combinations and how to acheive goals in other health areas. I believe, through you, I can understand what I need to know to make my venture a success. I have the drive, as I have my own business. The economy has affected how well I am doing as my clients are older and many cannot travel too far. I am a Master Cruise Consultant, but also customize travel all over the world, specializing in exotic destinations. I am so looking forward to taking this adventure with you, as my tour guide, into the unknown internet business.
      Barbara

      Reply
    35. Bithia'h

      Yeah,

      don’t buy stuff – you don’t need it, but what did we have to do first to get here?
      To buy your stuff!

      What did it say on the ad before we bought this stuff? A “No-Cost” way of making money – NOT a business with start up costs.
      Thank you very much for the misleading info!

      Now I suddenly have to LOVE computers, internet and marketing, and be ABLE to learn a LOT of new stuff, but I hear this only AFTER I bought your product.

      Reply
    36. Maryanne

      Hi Eric

      Thanks for that advice Dont Buy Stuff, I am a newbie also trying to achieve something from Internet Marketing, and of course no money but I am determined to learn something from here soon adice and tips to help me suceed

      Reply
    37. Mike

      Hey Eric,
      I just wanted to say I believe in our Heavenly Father Through His only Begotten Son!
      I have been ripped off so many times its not funny. The thing that caught me about you and your wife is the missionary work you do! I truly believe you are legite and a blessing to many people! I,m a complete newbee,I,m only on lesson #3 but intend to keep going and learning!
      Thank You And God Bless,
      Mike

      Reply
    38. Charles Drake

      Hi Eric–
      I’m 65 and retired 3 years ago from a factory job after 35 years. I didn’t get started with Windows 95, but really liked the improvements when Windows 98 showed up. And when I was given this “free” website after choosing a domain name (www.charliescomputerupkeep.com) I was excited. But the wife and I live on our social security and my pension. The $310.60 cost for Purely Hosting every 6 months seems a bit much, especially since I’m not sure how 2 use it. I guess this affiliate thing is a good thing, ’cause somehow I got connected w/your site. I’ll keep reading your lessons..

      Reply
    39. Micah

      Hello Bithia’h,

      We’ve been hearing very appreciative comments from people who purchased the No Cost Income System. The reason it is called that, is because it teaches HOW to get free traffic and valuable advertising at no cost.

      The course is filled with countless hours of video training, that took a ridiculous amount of hard work to put together. Surely, no one would deliberately cry foul at the title of an obvious product, hoping to reap the benefits of their hard work?

      If you are looking for free content though, you are welcome to continue watching the lessons here at Eric’s Tips. They have helped countless people go from beginners to successful online business owners.

      That said, Eric is a huge proponent of not buying stuff! He believes that you should only buy products that you know you can use right away for your business or in the near future.

      Tools will always be necessary, and inventive minds will continue to produce quality tools. However, some tools are just plain junk, because they are not quality. Also, if it’s a quality tool, but is only going to be sitting on your computer collecting virtual dust, then it is junk to you!

      Hope that makes sense! 🙂

      Reply
    40. Micah

      Hello Steve,

      There is definitely a good chance of that, as you are only on lesson #3.

      Also, these lessons have already helped many people to go from beginners to successful online business owners!

      Reply
    41. Micah

      Hello Richard,

      If affiliate marketing is something that appeals to you, ClickBank is definitely filled with many niches and great products to promote.

      However, if you’re not that interested in affiliate marketing, you might want to check out this lesson to learn about other ways of making money online:

      LESSON #4: 18 Ways to Make Money Online

      Reply
    42. Aseri

      Good thing to note is that it can cost at least $100.00 to start an online business which is more encouraging to know.

      Reply

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