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. Micah

      Hello Nguyen,

      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!

      Reply
    2. Micah

      Hello Charlie,

      The next lesson will be sent to you soon. You can also visit the following link to see the latest lesson updates and revisit earlier lessons:
      http://www.ericstips.com/tips/category/lessons/

      Here is the direct link to lesson 2:

      LESSON #2: What is an online business?

      You may also simply change the number at the end of the link, to go to a different lesson number (example: /lesson1, /lesson2, /lesson3, etc…).

      If your email happens to block some of the lessons, we recommend that you view this tip on whitelisting an email address:

      How To Add a Sender to Your Whitelist (Safelist)

      Reply
    3. Micah

      Hello Kay,

      You may visit the following link to view any of the lessons at your own pace:
      http://www.ericstips.com/tips/category/lessons/

      Here is the direct link to lesson 4:

      LESSON #4: 18 Ways to Make Money Online

      You may also simply change the number at the end of the link, to go to a different lesson number (example: /lesson1, /lesson2, /lesson3, etc…).

      If your email happens to block some of the lessons, we recommend that you view this tip on whitelisting an email address:

      How To Add a Sender to Your Whitelist (Safelist)

      Reply
    4. Micah

      Hello Gary,

      If you plan on selling items online directly, you will need either a PayPal account, or some other online payment processor.

      However, if you are sticking to affiliate marketing, or another avenue of online revenue, it might not be necessary for you.

      Reply
    5. Valerie

      Hello Eric,
      I downloaded your ebook on web hosting and got an offer for so many books with resellller rights. My questions are these:
      1. Can I sell these books singly rather than a bundle? Will i get download for each rather than a bundle?
      Can I get people to pay other than by paypal and send them the downloadable link. This is because in my country, we dont use paypal.
      3. If people dont pay by paypal, can i still get my commission?

      Please explain to me how it works

      Reply
    6. Micah

      Hello Valerie,

      Yes, the books may be sold separately.

      Yes, there is a separate download link for each item.

      Unfortunately, that site is only configured for affiliate commissions via PayPal.

      PayPal is also the only available payment method for that item.

      Reply
    7. Valerie

      Okay. but what if I just want to sell them and get my money without worrying about the commission. this is because we dont have paypal in my country. But people can pay to my bank account. If they do, can i send them the link for each book to download?

      I may have to give up the commission. Please let me know if I can do this. Cheers

      Reply
    8. Bev

      Hi Julia, computers are a necessity to learn to build an online business. Like you, computers were not around in my school years either but I have managed to learn over the years. It does take time but once you learn each skill you will not have to relearn it – this is good news! Take things slowly, find someone to mentor you and you will be successful. Take Eric’s advice and don’t buy anything without asking about it in a forum. We need very little “stuff” – it only creates overload – and this is from one who knows:) All the very best for your future success.

      Reply
    9. Jacqueline

      I am willing to be a marketer,there are somethings I need to learn in sales. My problem is in technology. At present I am having trouble moving my flies to another location. I tried affiliate programs which did not create any income in the past. Thank very much for the coaching.

      Reply
    10. Don Karp

      Hi Eric–
      Thanks for being straight with an actual step-by-step approach. Several questions came up for me on this lesson.
      I’ve already done some freebies on social entrepreneurship–and they talk about having a life purpose to overlap client’s needs and building a movement to save the world. What’s your take on that?
      I like the rules: avoid debt, and don’t buy anything. Even though I am in debt, I bought your $17 NCIS package. Should I wait to get into that? Also looked carefully at your Hot Niche Fire Sale. I decided it is a great buy, but since I really do not fully understand it at this point, I will pass on the opportunity. My gut says go slow, but not too slow. What’s your opinion on these decisions?

      Reply
    11. Don Karp

      ERIC-
      IA MA RE-POSTING THIS AS I WAS THE 1ST POST, AND MAYBE THIS WAS WHY I GOT NO ANS.

      Don Karp said:

      Hi Eric–
      Thanks for being straight with an actual step-by-step approach. Several questions came up for me on this lesson.
      I’ve already done some freebies on social entrepreneurship–and they talk about having a life purpose to overlap client’s needs and building a movement to save the world. What’s your take on that?
      I like the rules: avoid debt, and don’t buy anything. Even though I am in debt, I bought your $17 NCIS package. Should I wait to get into that? Also looked carefully at your Hot Niche Fire Sale. I decided it is a great buy, but since I really do not fully understand it at this point, I will pass on the opportunity. My gut says go slow, but not too slow. What’s your opinion on these decisions?

      Reply
    12. Roselyn

      Eric,

      Excellent teaching.

      Marketing is very enjoyable job, you just to do it in a right and profitable way..I’m glad to be part of your group teaching valuable stuff.

      Reply
    13. Sue

      Hello Eric,

      Yes, the right mindset is an important factor if you want to pursue a business whether it is online or offline. Marketing does indeed play a vital role in any type of business because the choices you make could either make or break your bottom line when it comes to the customer base you drive in toward that business. However, that in itself is a cost variable along with just getting your initial presence out there from the get go.

      A lot of great pointers so far. Keep them coming. It certainly gives me a great deal to think about in setting up these lessons.

      Thanks.

      Reply
    14. John

      Thanks for your honesty Eric
      I’ve broken some of your rules in the video and after years online it got to the point where I started to scream to myself “stop the insanity!”
      Your videos bring me back down to earth 🙂

      Reply
    15. Donna

      Eric, I appreciate your program. I recently did some cold calling to help a friend and wasn’t crazy about it. On the other hand, I feel VERY comfortable with emailing. (I’m a writer, so that’s my comfort zone.) Do you advocate one sales approach over others? Thanks!!

      Reply
    16. alex

      i understood that before:stop buying stuff cause i was bombaeded of guru stuffs but i bought nothing.Eric,is there a way to have more than 1 lesson daily?

      Reply
    17. Alanya

      I love technology and love learning. I’m ready to move on to the next level!

      Reply
    18. C Fountain

      Great beginning! Concise,good pace of delivery (no gabble) NO B.S. A natural teacher. Factual contents. A positive joy after the crap that is out there.
      Thanks. Bring on the other 97 lessons!

      Reply
    19. Janet

      Hello Eric. Thank you very much for these 100 lessons – I was in such a muddle before and want and need to take things one at a time so am feeling much more confident now. However I would like to know please if this course will help me sell previously unpublishd books? I have managed to get hold of some family manuscripts which I am sure need publishing as they are first hand accounts of our history from the 1920s, mainly in India, Burma and the China Seas. These are well written and cover military and naval accounts and make interesting reading. Two are already in ebook format and the others will soon be converted from typescript.
      I am over 80 years old and do not understand internet jargon although I can buy and sell on eBay and have over 7,000 second hand books for sale on Amazon. I know how to cope with those two sites but when I read about initials like SOEs etc, well these are double dutch to me. Also I do not like the idea of Facebook or Twitter. So….I will continue with this course but would also like to know if it is appropriate for the aim I have at the moment? I am willing to learn but forget a lot of what I do learn!! I am filing the lessons so I can recap if necessary.

      Reply
    20. Micah

      Hello Don,

      Eric definitely believes in having vision and purpose in your business.

      If you bought the NCIS course, and have the time, we recommend that you start learning from it right away. We don’t believe it’s good to make purchases that are just going to collect “virtual dust” while sitting on your computer.

      You can definitely take things at your own pace, so you’ll grasp everything better. If that pace happens to be fast, that’s fine too!

      Reply
    21. Micah

      Hello Don,

      Eric definitely believes in having vision and purpose in your business.

      If you bought the NCIS course, and have the time, we recommend that you start learning from it right away. We don’t believe it’s good to make purchases that are just going to collect “virtual dust” while sitting on your computer.

      You can definitely take things at your own pace, so you’ll grasp everything better. If that pace happens to be fast, that’s fine too!

      Reply
    22. Micah

      Hello Alex,

      You may visit the following link to see the latest lesson updates at your own pace and revisit earlier lessons:
      http://www.ericstips.com/tips/category/lessons/

      Here is the direct link to lesson 4:

      LESSON #4: 18 Ways to Make Money Online

      You may also simply change the number at the end of the link, to go to a different lesson number (example: /lesson1, /lesson2, /lesson3, etc…).

      If your email happens to block some of the lessons, we recommend that you view this tip on whitelisting an email address:

      How To Add a Sender to Your Whitelist (Safelist)

      Reply
    23. Micah

      Hello Janet,

      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!

      Reply
    24. Per Deshayes

      Hi Eric,
      Its 5.30 am and i have to wait another day for lesson4. I will fore sure follow what you teach and stop buying. I must be the IM best dream because i been buying a lot of systems. So i will follow you only to see how that ends. Regards to like marketing and sales. I love both of them and love selling. I have not done it online but used to be a marketing & sales manager for a racetrack and i just love doing that. Its been a while ago do sense after that i have only done my own ventures as an entrepreneur in all different fields.
      Where will i get the answers to my question that i have posted under the first lessons?
      Thanks again

      Reply
    25. DARRYLYN

      I’m willing to be a marketer
      I like computers and the internet) I’m willing and able to learn (and I know it will take work)
      Yesterday,I committed to getting started and learning whatever it takes.

      Reply
    26. Johann

      Hi Eric!
      You are asking the right questions at the right time! It only shows that you know the subject through and through! If you get the basics right, then all the other lessons will be easier to understand!

      I am again commiting myself to do the correct things the correct way and need to do it to succeed!
      Thank you for this opportunity!
      Blessings!
      Johann.
      Have a doy full of WONDERS!!!!

      Reply
    27. tim

      love it, but i think you said there are 100 of these lessons and they are short and come 1 a day. so can i get more faster, i am anxious to make money thanks

      Reply
    28. Hella-Uta

      Jaque,if you had not made the mistakes, you would not know!Well, I would like to purchase one of Eriks programs should I wait?Love the no hype,no guru approach and yes its confusing out there!

      Reply
    29. Ashok Patel

      Hi Eric, After listening your videos, you sound like very honest person. You gave the real truth. I just bought the
      Hot Niche Firesale Package of yours. I like to know how do I Sale the whole package? I do have clickbank id and now I have my link. How do I sell it? I am going to add that link on my Blog, but, blog is not productive yet. I just learned that your course is for 4.95 for first month and $97/month there after. My question is how long will it be? Thanks, Ashok

      Reply
    30. Jeff

      Great tips. I agree about avoiding debt. I have been buying stuff thinking it was going to make me understand the missing piece, but instead it prevented me to move forward. I know this business is a lot of work, but I think I am just missing pieces on how it should all be put together. I am hoping by listening to your videos it is going to clear some things up to where I can begin to rebuild my website and begin to market products. I look forward to the next videos.

      Reply
    31. Micah

      Hello Tim,

      The next lesson will be sent to you soon. You can also visit the following link to see the latest lesson updates and revisit earlier lessons:
      http://www.ericstips.com/tips/category/lessons/

      Here is the direct link to lesson 4:

      LESSON #4: 18 Ways to Make Money Online

      You may also simply change the number at the end of the link, to go to a different lesson number (example: /lesson1, /lesson2, /lesson3, etc…).

      If your email happens to block some of the lessons, we recommend that you view this tip on whitelisting an email address:

      How To Add a Sender to Your Whitelist (Safelist)

      Reply
    32. Micah

      Hello Ashok,

      The coaching fee is monthly, until you cancel your membership.

      We’d be happy to provide you with a special link to a tutorial to aid you in selling your course materials.

      Just contact http://www.ericsupport.com/ and let us know you need the tutorial.

      For all support regarding the “Hot Niche Firesale,” please do not submit tickets here. Instead, please submit them to Jeff’s helpdesk at http://www.xybercodesupport.com for quick assistance.

      Reply
    33. Chris

      Hello Eric,

      Have you got the link for lesson 2 ? Its gone for my e-mail folder ! OOOPPPPS !

      Regards
      Chris

      Reply
    34. Bill

      I am learning a lot to be able to have an online business.Others would let you know what tools you needed but would not let you you know where to go and learn what was needed.To me your website is the salesman or its the way I am looking at it for now.I tried selling and was not good at it,this way I don’t have to be face to face with someone or on the phone. Thanks again from Texas

      Reply
    35. Oeda Brogan

      Just watched Lesson 2. I like the lessons very much. I know I will learn a lot from these lessons. I am just getting started.
      Oeda Brogan

      Reply
    36. Mavis

      This business is right for me. It makes learning easier than anything I have ever tried to do. I am looking forward to the finish line, because it promises a ton of knowledge and that is what is going to make us successful in the end.

      Blessings!

      Reply
    37. Audrey

      YES I am ready for lesson four! I was ready to stop buying stuff when I was tempted with your awesome sales pitch about making money on line with out spending money. I wasn’t planning on spending anymore! But gee it’s only $17 and only $4.95! You know these things add up! I’ve been affiliate marketing on line via traffic exchanges and safelists for 3 years at least. I’m convinced at this point that any leads/sales I may be generating are being “skimmed” I’m almost ready to purchase the stinkin’ “leadskimmer” program I see out there! As far as the debt issue, I’m in it man, that’s why I am so desperately seeking online opportunities to add to my real life income! I want OUT of debt!
      So, without further ado, on to lesson four!

      Reply
    38. Dan Merryday

      Hi Eric,

      Your point about having marketing and technical aptitude is a eureka moment for me. I understand it intuitively, but I have never heard anyone make a distinction between the two. Now that you mention it, I know of a great team of mentors – one who is a wizard with technical aptitude, and the other is a wizard with marketing aptitude.

      Thanks for making that clear as daylight for me!

      I might also add: if anyone is reluctant to learn the technical side or the marketing side, doing partnerships or joint ventures with other internet marketers is a viable option. In other words: focus on your strengths, and let other people who are better do what they are good at.

      Cheers,

      Reply
    39. bob

      I have a passion for learning & it really hit home the Stop Buying Stuff segment.

      Reply
    40. Emma Brunson

      Where have you been all this time. Had I know about you and the valuable tips that you provide, I would not have wasted so much money on programs that make ridiculous promises but has absolutely no results. I am at the point where I have literally ran out of money and is now at the point of desperation.

      Reply
    41. Tautua

      Hello Eric,
      This is coming in full circle for me. I bought a product from you while I and my wife were in school at Berkeley CA, 2006-2009. We needed money to finish paying our schooling. 2008 when I finished school I began to look for help financially online from then on I made the newbie (this is after listening to the lesson) mistake of a rolling rocking…spending the money I was not suppose to buying online products with the understanding one of these products would produced…to this day nothing. I also committed anther one gave up before a penny is earned. Now I am listening to the first person I listened to concerning making money online. I forgot if it is a postcard from my mail of an ad online…anyways, understanding now, I should have stuck on you lol!…Eric thank you for taking time to clearly explain the core of being an online business owner. I am still trying, I started a new attempt last month at the Empowernetwork company, just last week I bought the domain hence the website above. I am still listening to tutorial on how to put contents in the website…you are empowering a life…thanks GOD BLESS

      Reply
    42. Don

      word press +plugin: $27.00 Wow but how many up sales to benefit from this package(I hate up sales) if there are no up sales we have a deal please reply before 1/14/14
      Don

      Reply
      1. Micah

        Hello Don,

        Unfortunately, we don’t have access to the admin area for that item at this helpdesk.

        For all support regarding the “Hot Niche Firesale,” please do not submit tickets here. Instead, please submit them to Jeff’s helpdesk at http://www.xybercodesupport.com for quick assistance.

        Reply

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