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. ANTHONY

      HI ERIK, THANKS FOR THE LESSONS. (WRITING CAPS, SO I SEE BETTER) NOW SINCE I’M NEW TO GMAIL :ONE QUESTION : CAN ANYONE TELL ME HOW TO OPEN A FOLDER HERE ? THANKS

      Reply
    2. Gary

      Hi Eric,

      Thank you for sharing your knowledge and putting this program together. God will Bless you and your family.

      Reply
    3. Pingback: Basic to Advance Internet Marketing Tips - Lesson #3

    4. Erik

      Your video will benefit me and many other internet marketer, will follow up again.

      Reply
    5. Gary

      Dave,
      God bless you and best of luck in your journey towards a successful internet business. Your very right in saying that it’s important to take action rather than always searching and buying new products.Love your analogy when you say it’s all useless as a chocolate teapot if you don’t take action.God Bless you!

      We Give You 120 Individual Turnkey Websites With Your Paypal ID On Each
      http://www.Instant-Paysites.com

      Reply
    6. Nik Nasruddin

      Eric and friends out there,
      Eric ask us whether an online business is right for us?My answer is YES,YES,YES and YES.An online business is different with traditional business.Online business will spread your business beyond your own country. It means that you can get more than 100% profit.Just try to learn with GURU like Eric and others.Ask them for any problem in online business, they will gratefully answer your question.

      If you want to start your own arts & crafts business online, try to visit http://www.easyartscraftstips.com.

      Reply
    7. Gary

      Hi Nadine,
      Sorry to about your difficulties with past internet scams…I think most of us have felt victim to it one time or another. Best of luck with your future endeavors.

      🙂

      Reply
    8. Gary

      Hi Sarah,
      With the way the economy has been lately your not alone when you speak of debt. Hang in there and best of luck….you’ll make it!

      🙂

      Reply
    9. Gary

      Daniel,
      I really enjoyed reading your review on the internet marketing industry. Thank you very much for taking the time to express your thoughts so clearly…I’m sure your post will encourage and help a lot of people. I’m currently doing a great course called simpleology and I have to tell you that I agree when you say focussing is one of the most important things!

      😉

      Reply
    10. Gary

      Welcome aboard and best of luck! “Stop buying Stuff” is a good eyecatcher for anyone whos been down that road once to many! 😉

      🙂

      Reply
    11. Gary

      Hi Ron,
      Its true…honesty,ethical and a legit business is always your best bet.

      🙂

      Reply
    12. Gary

      Hi Leonard,
      Did you have any luck with Bebiz? I know exactly the program your talikng about(tried it myself). I think you’ll have much beter education here with Eric. I found Bebiz just ok. The price for everything on that sight though is ridiculous.Best of luck!

      🙂

      Reply
    13. Gary

      LOL…the opening music to your videos is quite catchy. Reminds me of an opening for some sitcom on tv.

      🙂

      Reply
    14. Gary

      Hi Shrinivas,
      Wow….someone all the way from India! Thats great! Best of luck to you!

      🙂

      Reply
    15. Gary

      Yes…Hostgator is great! They have a few different plans depending on how much bandwith you need. I’ve looked at a lot of different hosting sites out there and Hostgator has the best support and prices I’ve found!

      😉

      Reply
    16. Gary

      Yeah…its funny how mentors almost speak a different language. You pay them for a service but language they speak is on their level and not yours. Best of luck here!

      🙂

      Reply
    17. Gary

      Yes…thats one of the biggest advantages of an internet business,you can reach people far away from different areas of the world! Best of luck to you!

      😉

      Reply
    18. Doug

      Dear Eric,

      I really want to learn and like your truthful way of presenting. I fell that I can trust you. I am hopping that there is a way that I can acess all of your lessons with out having to wait for them over 120 days. Is there a place where they are archived so and can view them at my speed?

      Thanks and God Bless

      Reply
    19. Blake

      Hi Leonard

      My situation is somewhat similar. I have spent a bit – maybe $300 or so -but I do think it is all useful. I just don’t have the time to start. But my retirement is coming in a year perhaps so I am getting a lot of information. I like Eric’s and Mcrath’s newsletters. I do like being able to put my 2 cents in with Eric’s blog though.

      In this thread someone mentioned Adsense but did I not read that Google is discontinuing Adsense and switching to some type of Affiliate system? Lord only knows how that will work.

      I’m still on break before I begin my night class and so now off to work.

      Sunshine to all.

      Reply
    20. Melina Crisostomo

      Hey Eric!

      I completely love that your a man with integrity. I really appreciate that you have spoken out about not going into debt while developing your business. Thanks for being so candid with your students.

      Your advice is truly a gift.

      Thanks,
      Melina
      http://www.seminarswagbag.com

      Reply
    21. Jacque

      Made some of the biggest mistakes online. Scams, over the top MLM, books, products… Only now, thru those experiences start to understand all this online buzz is all about. Can’t say I’m glad to make those painful mistakes but can’t say I regret it either. Eric, my life would be much better if I had found you first.

      Reply
    22. Vance

      Hi Eric,
      Thank you so much. The thing that sticks out in my mind from this lesson is “Stop Buying Stuff”!
      A light bulb moment for me.

      Thank you.

      Vance

      Reply
    23. -Crystal-

      I started a couple years ago studying online business & marketing. I haven’t spent much $$$ at all. I dont watch tv and spend a lot of my time learning online. Awhile back I asked someone who had an online business what would he do over if he could. He said …I would have stuck with one, maybe two gurus or mentors from the beginning, and not get confused with a bunch of voices.I can tell Eric is the man for this job. I was told by an expert salesperson that you will make it in sales if you can think of sales as TEACHING and not selling!

      Reply
    24. Alex Newell

      Two light bulb moments for me.

      One from you Eric – “Stop Buying Stuff” Ok But it’s so much fun 😉

      And the other from Crystal above who repeats advice that selling is teaching.

      Hmmmm, I used to be a teacher!

      Alex

      PS I just Stumbled the video

      Reply
    25. Jorge Corrochano

      Dear Eric,
      The puzzle is coming together becuse I just finished a Marketing Course and learned so much, I put 1080 hours into the Course and now I’m begining to SEE the Light. I’m willing to LEARN step by step…lots of lol

      Reply
    26. Graham Hill

      Dear eric
      I’m up to lesson 24 and i just want to say FANTASTIC !!!!!!!!!!!! I have just been on the phone to my freind in London who is also starting an on line business, he has just subscribed to your tips and is looking forward to watching them all. I have 25 inventions ready to run with, so last night when i heard you talking about inentions on your video i was buzzing (excited that is). my intention is to raise money with an internet business then produce my ideas.your tips are invaluble, i wrote so many notes and ideas down last night when i watched 14 to 24 that i could’nt sleep,3.30 AM i managed to nod off THANKS A MILLION ERIC!

      PS. I have been inventing since i was 19 and i’m now in my 40’s . I think it’s time now don’t you? Ain’t no stopping me now

      ps

      Reply
    27. Liem Djing

      I am already in internet marketing since 2005, however I learned and learned and too much information just like you said. I do not earn income as I was told. Looking forward to listening your video step by step. Thanks

      Reply
    28. Divine

      i just want to say thank you for all the info. I am newbie and I always have mt heart for business. I’m still in the process of finding my niche.

      So far, I’ve learned valuable lessons and insights. I hope to learn some more.

      Reply
    29. Luca

      Hey Eric,
      I’m so glad I found your site. I’ve been reasearching online business opportunities for a while now and finally got my site up. It’s not monotized yet but I’m working on it. I love your videos. What I find is that there’s so much garbage information out there that’s just geared for a quick buck – mainly scams so it’s refreshing to see someone like you sharing so much for free.

      Marketing is very important – I look forward to your next lesson.
      God Bless

      Reply
    30. david

      As usual you are right on the money. It is refreshing to see someone being honest about the fact that it will take commitment and work to do this. Like so many others, when I set up my first website, I thought that I would just have my site and rake in the cash. Keep up the good work

      Reply
    31. Carolina

      Just finished lesson 3 and wish I had read it before I started buying more make money online products…anyway,this is my wakeup call and it stops here…You gave me alot of straight forward info about why I was looking into starting my own online business…I have committed to this and I give thanks to my awesome God for the favor He has shown me with this new experience…God Bless u a thousand fold…Carolina

      Reply
    32. rumen

      Hi Eric
      This is true.I stop baying e-books before
      6 months becouse i understud that many e-books
      who offered me whit thousends e-mails everyday
      more times have the same content but now i bay
      softwear who realy help me in my job

      Rumen
      http://mihgtpartner.blogspot.com

      Reply
    33. Casey

      Hi Eric,

      Thank you for these great tutorials you do for us. After just watching the 3rd video I have realised that you truly are genuine about helping people succeed in their goals as you do not “sugar coat” anything at all, you simply say it how it is, point blank!

      I will be tuning in for every video you have as I want (or should I say WILL) be starting my own online business for a few reasons, #1 being that I never want to be living out of my car and relying on friends for food EVER AGAIN (that was soooo degrading) and wish to be finacially comfortable and #2- I wish to help fund scientific research in finding a cure (or even a treatment at least) for Duchenne Muscular Dystrophy as my nephew has it and his life expectancy has been estimated at 12yrs old if he is lucky because his muscle wasting (which will include his heart and lungs)is more rapid than usuall. I also wish to help ease the finacial strain that his DMD will cause on my sister.

      So for now I will keep learning and gathering an inventory of products I can sell. It has not cost me a cent so far and I’m keeping my fingers as toes crossed that when I do eventually luanch, it will succeed.

      Once again
      a VERY VERY BIG THANK YOU

      Casey

      Reply
    34. Joanne

      Hey Dave,

      Kudos to you for making the commitment and following through!! Keep it up and you WILL have success. “We miss 100% of the shots we don’t take.” Wayne Gretzky

      Reply
    35. mike

      Hi eric,
      brilliant resource.
      I only hate the idea of sales when I know
      the product or service is flawed or I know
      there is a competing service which may be
      cheaper or free.
      how does the inexperienced get there toe in the
      water and build credibility.
      I have an issue with having to like computers
      something that bothers me is software compatibility and utilising what is available
      I notice for example you are using Camtasia,
      i have a problem with the free video downloads
      you get in the popular free giveaway events I
      can never get them to play-(created by camtasia)and adobe flash player doesn’t download-what’s the work around on that one?

      Reply
    36. Samy

      Hi Eric,
      I am just beginning to set up my business beginning this new journey. Your lessons are very precious to me. In fact, your ebook I received is a kind of a ‘bible” to me and I am following it seriously. I was expecting to receive Lesson 27 on web building as you promised. Can you please send it to me so that I can finish up things by the end of this week? I will appreciate. I am now struggling to build my website. is any recommendation for a easy way to do and which software is good. Thanks. I wish God’s blessings as you share with others

      Samy

      Reply
    37. Home Remedies

      Whatever be your internet business model,there are some core unique elements

      1)Content
      2)Traffic
      3)Capturing leads
      3)Monetizing

      Yes its true that hard work is required.If you do the first two things right,the others are relatively easier

      Reply
    38. Steve

      I appreciate your video’s…

      I admit it… I’ve been buying everything from soup to nut’s, mostly video content, thinking I need to know it all first…

      So your saying it’s no secret, this doesn’t really take alot of money, but depending on the individual, could eat up a lot of a person’s time…

      The think the struggle’s between time and money are going to go with any beginning endevour…

      Reply
    39. Rich Moses

      Thanks a million! The section on taking a real look at who you are and what you will and wont do is great.

      Rich Moses
      Affiliatehot100
      gamz4less.com
      payless4yoyz.com

      Reply
    40. Judy

      I love your site. I am finally finished buying stuff! I have been promoting my husbands site, but i want to start my own. I would love any suggestions. My strengths are marketing, etc. I dont know what to sell though. Help and God Bless! Merry Christmas!

      Reply
    41. Tracey

      Hi Casey,

      I feel like you, Eric is really a big help and a Godsend. I have been out of work and found this product helped my body get what it needed so I could live with the stress I was in. NO Money ( my children haven’t had anything from me in years- clothes, vacations, icecream, shoes…) I understand what you mean, and how humbling it is. I just wanted to send encouragement for your nephew. You love him and don’t want to loose him, that is me too. I love people, even if they are mean, I just see they are hurting. Well, this supplement is great for restoring health and giving back HOPE, even when Dr’s say ” theres nothing else”. I am living proof “there is more!”. Thanks I hope it is something you all look into. write me! please.TP

      Reply

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    The maximum upload file size: 50 MB. You can upload: image, audio, video. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop file here