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. Margaret J Aleman

      I am setting up my first website with Tafiti builder. It is a drop shipping website. It is almost finished (of course I know from all I have been reading that a website is never really finished-just a work in progress). My plans for the new year are to set up more websites (on my own-without Tafiti). I am looking forward to it. I am a 70 year old greatgrandmother-a transplanted Canadian. I got married a second time and have been living in the US for 10 years. I embarked on this adventure (internet business) last June and know that I will need lots of tips. I also know there is such a thing as information overload. It is a challenge sifting the wheat from the chaff. Thank you for your help. Have a great 2009. Where did 2008 go? Margaret.

      Reply
    2. Nate

      Thanks
      For being so honest and willing to share your easy to follow lessions.I was almost ready to give up.I’ve Bought cars,fixed them,sold for profit for 25 years. Age and health,I can’t Fix things like I use to.
      After 2 years looking at online opp.and all the hype I was starting to thing it was all B.S
      Looking forward to all of yuor lessions.Have a great day.Thanks Nate

      Reply
    3. gary collins

      I receive plenty of email from marketers. I discard most of them but keep and review your messages. You’re helpful. Thanks.

      gwc

      Reply
    4. James Moses

      I like the way you present this business all I hear from others is how much money they make eyc.. I look forward to your lesson everyday.
      Thanks
      JM

      Reply
    5. wilfrid

      Antonio; WOW.

      You are a spiting IMAGE OF ME! I don’t know how old you are, Me, I’m 75yrs old and I’ve done everything you mention and then some! Boy am I glad that I found Eric’s lessons. I think that he CAN be out salvador! Stay with it, I know I will.

      Reply
    6. wilfrid

      Some people can go at a faster past then others.I think that eric has to do what is best for everyone not just a few.Real bigginners will have to take it slower. The “Rabit will just have to wait for the Tutle this time around maybe???

      Reply
    7. jimisan

      You got the wrong message. Nico is helping out by creating a forum for us to interact with the lessons we received from Eric. Isn’t his effort commendable? Take some time off and join his forum. 🙂

      Jimi
      http://vur.me/jimisan/efb

      Reply
    8. jimisan

      Hi Eric,

      Splendid message you conveyed in Lesson 3 here. Just interested to ask you this one? I’ve came across company offering ready made “Highly Optimised Contents Ready” Adsense Templates. Will be slapped by Google for using these templates? Thank you.

      Jimi

      Reply
    9. Karyn

      Hi Eric:
      I just started receiving your lessons (#3) and I wanted to thank you for your real deal way of teaching. I have been searching and buying whatever I could afford trying to find that one program that was it. After wasting time, effort and money, I almost gave up. tired of chasing my own tail and feeling like I must be missing something. Thanks and keep it coming. Can’t wait for the next lesson. kb

      Reply
    10. Guy Thompson

      Hi Eric

      Thanks for the latest video. It is great you are starting with points most people telling people how to start up online sort of forget (like a) check are you really suited to online business, or b) save money by not being stuff unless you know what you are doing!). I’m looking forward to seeing where you take us next.
      Guy

      Reply
    11. Wyteria Jacobo

      Eric,
      I love your delivery style. I run a promotional marketing firm and consider myself a salesperson first. It’s nice to see someone else practicing “give to get” marketing. Your lessons add so much more value to the program. Priceless.

      Reply
    12. Janet

      Hi Eric,Your video are great & helpful.
      I just sign up for Home Cash Course by Mackenzie Lee. I have my website and I am trying to setup an Adsense account to it and having a little trouble doing it.I went to Adsense Secrets link to download the book for 9.95 and you can download for free for 30 days and then you are charge 29.95 a month. Where can I download the ebook for 9.95?

      Reply
    13. Eric Post author

      It looks like he switched it to the free trial offer, so I think that would be your best bet to obtain the Adsense Secrets ebook. You can always cancel.

      Reply
    14. Eric Post author

      Templates are great (I’ve sold them many times), but you have to remember that they are templates… NOT prebuilt sites. Therefore you need to change and customize them to make them your own and avoid the google slap.

      Reply
    15. Eric Post author

      Adobe flash player should download on any computer. If it isn’t then you need to adjust your security settings, or check for spyware or something that may be blocking it. Unless you have an old computer, in which case you may need to upgrade 🙂

      Reply
    16. icki

      Eric I am intersted this far if you can teach me what I Know that I don’t. I am not afraid and am willing to get up stared and as for having very litte money that is true I did like you said not to do bought, etc.

      Reply
    17. Abu Shafi

      Very good tips for newbie especially your advice on stop buying stuff unless one knows what one is doing. It is pretty cool tutorial.

      Reply
    18. Grace Stroup

      Hi Eric,
      I am still having problems downloading the macros, and opening, some files

      It gives me a message that windows can not open this file, because it needs to know what program was created?

      And also since I try to down load it to my computer, my computer is malfunctioning, says that it has to shut down, and it goes into a blue screen, and it says that if continuous i have to have the tech. to chek it out.

      I do not know what I did wrong. because I have not down load it about 3-4 files are still they need to down load.

      Can I log-in to your website and watch the videos to give an Idea of what to do?

      thanks,

      Grace Stroup

      Reply
    19. Eric Post author

      yes we have online version of the videos available for PBM customers. Please submit a ticket at the helpdesk and we’ll get the link to you.

      Reply
    20. cornelia van der brugge

      hi erc,
      at last someone who tells it like is. i have been researching online businesses for over a year and most of it is empty promises. thank you for the clear cut and simple videos.the truth is if you are a newbie it will take some time before you make money. we can deal with honesty and what it will take to see returns. simplicity and chronological training is the key and not too much info all at once. i’m eagerly awaiting your next video!

      Reply
    21. Nenad

      Hi Eric,

      I have received your first lesson on 20th of October, but to be honest, watched it tonight!
      I thought this is another blah blah thing. I was so wrong!!!
      I am writing to you from Serbia, and I’ll tell all of my friends to sign in and to learn something from you. Sorry, my english is not good enough to express my feelings. You are so genuine and honest friend of mine(I hope I can call you a friend).
      I have a few websites but just from the first three lessons I can see that I have a lot work to do and a lot of things to learn.
      Thank you very much for everything you are doing for all of us newbies and God bless you, and your family.

      Reply
    22. Rema

      Hi Eric,
      Thanks for the informative tips. As you said in your first lesson, I am overloaded with info that I dont know where and how to start. I am so glad I got to know about your lessons.
      Looking forward to the next lesson with a lot of enthusiasm and commitment to gain good knowledge. Thanks again,Regards,Rema.

      Reply
    23. Jack

      Hi Eric,

      I’m impressed enough to have invited my wife to watch this lesson with me (hope that’s okay).

      What you say is enlightening and encouraging. We are looking forward to the next lesson.

      Sincerely,

      Jack (and Billie Mae)

      Reply
    24. dawn

      I just joined Home cash course about a wek ago. your lessons are great because it seemed like trial and error with everything that i was trying. right now i am just joining forums and blogging. getting better at both hopefully your lessons will help because this is something i have been thinking aqbout doing for awhile but never had the nerve. unfortunatly now like most people it is a monetary reason for taking the leap. i know i pass your website along to people that i talk to in forums and on my blogs

      thank you again for being the kind of man you are. kind and generous.

      Reply
    25. John Harris

      Eric first of all I would like to tell you how much I appreciate the effort you put into this
      business for us. I am 52 years old but I still think I can learn this business. I have been in sales for the last 10 years and recently was laid off. not tech savy but I am will to learn.

      Reply
    26. Anonymous

      This lesson is so true!
      I have been trying to do online businesses for about 2 years now, on & off…i have to say, i lost nearly $2ooo.oo buying programs and softwares that i never used or would have any idea on how to programed them as into a business. Not to mentioned signing up for mempership programs, free websites that you ended up paying for hosting & domain but was advertised as for FREE!!! What is the word Free means anyway for the advertisers???, lol.

      It sure is hard work, alot of effort and shopping around for ideas to really motivate you on how to start, still work on it and keep succeeding in the kind of marketing of interest…>

      thanks Eric for reminding me of this great tip…i am trying to stop this bad habit anyway….:)

      BF

      Reply
    27. fred

      Eric I have located and printed out User guide for Kompozer and NUV by Charles Cooke. Located on ask.com. I am looking for another guide, for someone with less technical skills, a little more down to earth for beginners. Also you mentioned you would provide info in later lessons on where to get computer useing skills and help. Can you get that to me now so I can start, as I need help with computer skills. Thanks for your lessons and help. Very refreshing to find a honest marketer.

      Reply
    28. D. Porter

      Hello Eric, Great lesson. Sorry I’m so behind and trying to catch up. I have a web but don’t know how to get it started. I’m glad you’re such a big help. I have paypal, clickbank acct and google analytics, a weber code,google blog, google as sense code but don’t know how to get it going. I hope you will help me with these lessons. thanks

      Reply
    29. Kevin Puls

      Wow.

      This was almost an epiphany for me.

      As I previously stated, I didn’t console my wife when I started, so I ended up going “hog wild”…

      …buying domain names like crazy. I now have nearly 1400 and we are now starting to build them into sites, but…

      … I did go into debt. Debt which I should not have gone into. I should have bought a few, & worked them.

      I have learned my lesson, and I hope your readers can learn from my mistakes as well.

      Best,

      -K

      P.S. A lot of these domains are now available for sale. So if anyone needs either a domain, or website- let me know. I will send some proceeds to both military charities, and to Water is life- the charity that Joel Comm featured on his Twee-t-a-Thon a few weeks bck.

      Reply
    30. isagani

      Hi Eric,

      Your lessons are great help to us. You are teaching us not only the technical itself of starting online business but also the attitude that we to acquire. You are a great mentor men. By the way, i put the link of this site in my multiply account so my friends could look at it. Thanks and Godbless!

      Isagani

      Reply
    31. Troy

      Brother,

      Finally, down to earth truth. It is the key to everything. Knowing the truth, living the truth, and sharing the truth. I look forward to hearing your practical advice about moving forward in the online business.

      Bless ya,
      Troy

      Reply
    32. Sharon

      Hi Eric,
      Thank you sooo much for your lessons. I just put my credit card away. You’re right – I don’t need to buy any more stuff. It is tempting but also adds to confusion and a feeling of being overwhelmed. So nice to hear your honest approach. Thanks again, Sharon

      Reply
    33. Robert Robbins

      Hi Eric, I thought you presentation was clear and concse, I need to get the business up and going, have thousands of records (vinyl) to sell and need help.

      Keep up the good work

      Regards
      John Robbind Wales UK

      Reply
    34. Vic Abercrombie

      Eric: I have been interested for years about internet marketing but I just have not taken the time to pursue it until now. My younger brother is also very interested and so I though we may be able to work together somehow to figure all this stuff out. Also I believe that in my currenrt business as a financial planner/advisor that it will be a must to be able to market my business over the internet. So, To start I am interested in learning how to get my current site or a blog site (whish I understand is far better) to the first page of Google and to appear to be the expert in the area where I live and maybe beyond. Hopefully by doing all this I will be able to get qualified leads to help my business grow. Next I believe that this is a great way to promote MLM businesses the easy way. Am I on the right track? May God continue to bless you and your family and thanks so much for being so honest and willing to help others acheive there dreams to work smarter rather than harder. Vic

      Reply
    35. Eric Post author

      If you’re sure that MLM is the right kind of business for you, then yes the Internet is a great place to get leads and build your business. But if you aren’t yet making money from MLM, I would encourage you to explore some other business models– including the model I teach, which is to have your own product.

      Reply
    36. Alex

      You know before being laid off my software / web development job last month, I too was in telemarketing! I also dabbled in internet marketing years ago, while I was still in college, wow has the game changed!

      I have to say, I’ve spend well over a thousand dollars this past month trying to learn more about the “new” things in internet marketing. I see the money I spent as an investment for my future. Some products I regret, and I did get a refund, but the products I’m currently learning from, I don’t mind spending the money.

      I don’t mind the hard work. I sit in front of this computer every night, for hours, until the sun comes up. I’m learning, trying to implement things, but just not committing fully to a direction. During the day I actually get to spend time with my family, and I love it. This is my on-going cycle for about a month. If I can make a living sitting at home, working from my computer at night, while spending the days with my family – I’d just love it (Who needs to sleep!).

      Reply

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