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. Jason

      It’s funny that you mentioned family as a potential hurdle. You really have to explain things in detail and slowly. It was my father in law that put the ebiz bug in my ear and my mom who freaked out. My wife just thinks I’ve lost my mind. However, when you explain your goals and have a general road map people pretty much calm down and get on board. Then they start talking you up to their friends. It’s pretty cool.

      Reply
    2. Susan

      Eric, you are a godsend. Thank you. Finally, a “guru” with true christian values. Yes, I have a website. Sort of. It’s a learning thing, what with html code and all that. I love computers, since 1982, and the internet since 1990. Learning is hard and time-consuming. and I will stop buying crap. I can no longer afford it. Please, continue to tell it like it is. and I hate sales, but I can write…hopefully well enough to sell something someday over-and-over. Keep up the good work, I’m looking forward to more lessons.

      Reply
    3. Patsy

      Hi Eric! I have been so scattered and unfocused until now. Sheer luck has brought me to you and for the first time I feel calm and confident. I have made the pledge to myself to stop buying stuff and I have removed myself from all the lists I seem to be on. Already, my email is easier to manage! Thank you and I look forward each day to the next lesson…..Patsy

      Reply
    4. Lawrence

      Hi Eric, I am in UK and receiving monthly modules from Andrew Renold, do you know him? How soon can I start, can I start without my personal product? I am so excited hope I keep this excitement until I start seeing result.
      Only God will pay you for all this good work, honestly. I have so many questions. Just bear with me, I am a Theologian, I have a missionary Organization, and do church planting in mainland Europe also and opening schools in Africa among marginised and unreached peoples group, I am also a system engineer working on contract with Fujitsu, how can I fit in this whole picture of online marketing. This sound stupid, don’t worry just a started, I need money to send more missionaries around the world and open more school.

      Reply
    5. TreasureCoach review

      Hello Eric… thank you for this lesson. I like the way how you express things. You make all these things easy to understand. With your tips everybody can understand what it takes to make an online business, and whether it is the right thing to do or not.

      Happy New Year…!!!

      All the best,
      Arne

      Reply
    6. Anonymous

      Hi I am interested online work and I like computers willing work at home

      Reply
    7. Anonymous

      Eric,thanks for the lessons so far. Wanted to get your input on the company Better Trades, and also what you think about the site Think or Swim to do trading. I am just getting started with trading and trying to pick up as much info as possible to become successful

      Thanks,
      Scott

      Reply
    8. Eric Post author

      I do not know a lot about Better Trades other than I’ve seen their infomercials on TV a lot. Maybe you’re already a member, but I do recommend this course: http://www.tradingprosystem.com

      The ThinkorSwim platform is a great trading platform. I love their chart features.

      Reply
    9. Scott W Kelley

      Great reality check! It is true, that learning is a bit of work but it is so worth it! But I never thought of it as learning a new language, great concept.

      Reply
    10. David Salvidge

      Hi Eric, Great content here. I found a great way to remove all those bad feelings caused by the thaught of selling or cold calling or any other type of fear. It’s easy to do and painless. Try it! It’s worked great for mr and my partner…
      http://bit.ly/zpoint

      Expect Success.

      Reply
    11. Barbara

      Action steps:
      I come from sale background and I enjoyed working with the internet and open to learn more.
      And yes open to learn I came to the USA at 21 years old and learn English from a book by my self, I am a hard working person and so ready for more thanks!

      Yes I am committed 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)
      Barbara

      Reply
    12. Jesse Doubek

      Hi Eric,

      I really love your Eric’s tips courses that you offer. The material is great and really teaches quality start up concepts and principles. I thank you for the Trading Pro System as well and I’m excited about my online business and the success I’m having so far. I love the learning process and my online business is allowing me to create things that I have never thought possible. I am in the process of building my own membership site that I know is going to be a smash hit very soon. I will definitely be networking with you throughout the process and checking up on the latest with you. Do you know any other gurus out there you would recommend for me to network with. I am in touch with Dave Guindon, Dan Nickerson and Jonathan Budd so far but I am looking to branch out and learn as much as possible to implement solutions into my business. Thank you for your time and I wish you all the best.

      Jesse Doubek
      http://homebusinessopportunity.mobi

      Reply
    13. Stephen W

      I have to ask? Do you help or have a side business that guys like me can pay a minimal fee to have a site put on the internet for me?
      Thank you for all you do,

      stephen w

      Reply
    14. graham

      still not sure how to white list? im with outlook express!!! somebody please help!

      Reply
    15. Eric Post author

      Not at this time. However, in these lessons I cover several methods of website building, including outsourcing it. There are many affordable places to outsource a website, including http://rentalcoders.com

      Reply
    16. Eric Post author

      Thanks 🙂

      Those are good ones. If you really want to meet gurus I would definitely recommend going to some internet marketing seminars. But don’t go with the attitude of leeching onto them. Instead, ask them how you can help them in their business (ie. promote their products, etc.)

      Reply
    17. Pierre William Trudel

      Pierrette & I meet all three criteria.We have been working at this for over 3 years.We are not in debt but have no money. We love the net without having a huge background. We love to learn even if we are 58 years young.We are willing to work the hours it needs.We have the rest of our lives to look forward to and we have been together 42 years, married for 38.I love sales and marketing. It is how to apply it and use the tools on the net that I have a problem with. We started by selling dogs on kijiji and had success, but that was a “Live” product. We saw the net opportunity there. We do not want to sell live products.Where do we go from here? We have no money, are on a tight budget, lots of time, willing to learn and work hard…Pierre

      Reply
    18. Eric Post author

      That sounds great. I will be teaching you how to sell information products, which is much easier than selling live animals!

      Reply
    19. krys hunter

      Hi,
      I have only just started listening to your lessons and am finding them quite interesting. How many lessons do we need to listen too before we are told exactly how to start marketing and what will we have to market. I am willing to learn but I need to know what it is that I will be marketing.

      Regards Krys

      Reply
    20. salma

      first i thank you for providing such a great helpful information on marketing. I dont have any experience on marketing and sales. but after listening your video i am confident that i will be a marketer. provide me the details how to become a marketer what to sell. Currently i am writing recipes to websites and i am in need of money.

      Reply
    21. Eric Post author

      It’s a process, and the money making doesn’t happen until about lesson #54. Around lesson #20 you should learn what you’ll be selling. Keep in mind this isn’t a get rich quick strategy, but a long-term business building strategy 🙂
      Thanks

      Reply
    22. sammy

      HELLO DEAR ERIC,
      I’M VERY FORTUNATE TO HAVE STUMBLE AT YOUR WEBSITE FOR TRUELY, I AM A NEWBIE TO INTERNET MARKETING, YET I’M INTERESTED IN THE STUFF, AND I HAVE TAKE MY TIME TO GO THROUGH THE 3 LESSONS YOU HAVE SENT TO ME AND I KNOW THAT WITH YOU ON MY SIDE I CAN MAKE SUCCEESS. PLEASE SIR, I WILL APPRECIATE EVERYTHING YOU CAN DO AT YOUR DISPOSAL TO HELP PEOPLE LIKE ME. ONCE AGAIN THANK YOU AND GOD BLESS YOU.

      Reply
    23. Mohammed Mohsin

      Hi Eric,
      I want to success in online bussiness. But I can’t invest a single penny. Only I can work. How it possible Please tell me.

      Reply
    24. Victor

      Thanks for asking me to stop buying! Point taken and I am very happy and excited to go to the next lesson.

      Reply
    25. Gerald Lyons

      Hi Eric,I love the work that you are doing and I am glad that I am here with you but I wish that I had come across you a few years ago when I was starting off on my journey to success with internet marketing. The first thing that has to be realised is just like any business venture no matter if it is on line or off line marketing, it takes money to make money and budgeting onesself is very important so sustain your business and keep it afloat.

      Regards

      Gerald Lyons

      Reply
    26. Kari Saarinen

      Hey, I must say that I´m ready, willing and able. This was second video today, because I have a little catch up….started late.

      Reply
    27. yogendra

      Dear Eric
      thanks for your expression.i will look forward my good relation to like you.many many thanks for providing me valuable information.

      Reply
    28. Zarine Arya

      Hi — I totally connect with what you’ve said about (NOT)buying stuff — I’ve spent more than I wanted to, and am still struggling with what to do first. I don’t even have the time to read, much less study and practise, all the stuff I’ve purchased. I’m going to stick with just your lessons at the moment — but can I speed them up please, if you don’t mind? I’ve been ‘looking’ at IM for more than 3 years, and am getting impatient. I’m interested in — deciding a good domain name, starting social mktg (as a way of promoting my links), setting up an email series in AWeber where I’m already a subscriber, and doing affiliate mktg for a start. Please could you point me to the relevant lessons, and any others you think I should do first? Incidentally, I’m a retired teacher, & love learning new stuff and meeting challenges. I wish I’d chanced upon your videos earlier — they are such a clear path through the woods. Thanks and God bless.

      Reply
    29. Eric Post author

      The lessons will soon be available as a package so you can follow them at your own pace. In the mean time I recommend following them in order. Part of the reason why so many newbies fail is because they have missing puzzle pieces from their businesses, and I’ve designed these lessons in a way to help make sure there are no gaps.

      Reply
    30. Eric Post author

      as you will see in the next lesson, there are many ways to make money online, one of which is “get paid to” (GPT) opportunities. Some of these opportunities are legitimate. However, such opportunities are not easily scalable, and rarely provide the opportunity to make the kind of money that most people want to make. Oh, and a lot of them are scams 😉

      Reply
    31. Eric Post author

      My advice is to work hard and save up some money to invest in your business.

      There are some ways of getting started online without money. Basically you could find some affiliate programs that are free to join. Then promote your affiliate links in free places, such as forums, blogs, directories, social sites, etc. And write articles with your affiliate links embedded in them, and submit them to article directories.

      But that is not my recommended long term business strategy. It’s simply one way to generate some cash.

      Reply
    32. Zarine Arya

      Hi Eric — you’re absolutely right about missing pieces of the puzzle. Thanks for your help.

      Reply
    33. Cheryl

      Hi Eric,
      I’ve done some sales and marketing and I’m average on computer literacy. I’ve noticed that even if something is totally foreign to you like learning a new language the more you immerse yourself in it, the easier it gets. I’m ready to learn!

      Reply
    34. Gee

      Thanks Eric.

      Its great to see somebody telling it like it is.

      Look forward to the next lesson

      Reply
    35. Peter

      I am a retired International TV Broadcast Engineer (Graduate). Worked in North America and elsewhere for many years.I have been on both the selling and buying ends of extremely Hi Tech and expensive PRO equipment purchases.I am looking, probably in vain – for an appropriate I/net niche.

      The scientific and precise mindset of my previous clients and I does NOT adapt well to the average TV commercial offering for the typical TV station viewer, – now internet consumer as well..

      Surely WE — can continue to ENJOY Sales and Marketing – ONLINE — WITHOUT the CRINGE factor that you mention. Surely we don’t have to descend to the – We Aussies call them Crayfish, – you guys call them Crawfish, – Lobsters, whatever ( Their heads are full of SHIT ).

      Can we NOT ? practice Professional I/net Sales and Marketing ?

      How difficult is it to find such a niche ?

      I am CERTAIN — that I am NOT just one of a small minority looking for a PRO solution here.

      Peter Buzzard Perth Western Australia.

      Reply
    36. Peter

      is an online business right for me ?

      Absolutely, – but ONLY — if I can find an acceptable Professional approach and sell something that the client REALLY NEEDS a proper technical and scientific explanation of.

      Reply
    37. Eric Post author

      It sounds to me like you already know the kind of people who are in your niche. You just need to find out what they need/want, and then sell them the solution.

      I would be careful about making assumptions regarding the type of marketing that will work best for your niche. There are certain principles that apply… regardless of the mindset/education/demographics of your niche.

      But you are certainly right that if you’re dealing with a “professional” niche, you’ll need to reach them and communicate with them on the professional level that they are accustomed to 🙂

      Reply
    38. Murray J

      Hi Eric, my confidence in what I’m trying to do was beginning to dwindle over the past couple of weeks, but after this lesson, I feel that I just haven’t had the right coach up ’till now! I’m committed to be a marketer, I certainly like computers and the internet and I’m certainly willing to learn. The best thing I heard you say was ” Stop buying Stuff!” Wow! You’re so right – 90% of the stuff I’ve bought, I’m not using (I’m ashamed to say), because I didn’t know what I was letting myself into and it just hasn’t worked (for me) 90% of the time! Thanks for the lesson. Murray (aka Murrjon) Cairns, Australia

      Reply
    39. Michael Ionesco

      Thanks Eric for those great tips. I’m a relative newbie to the online marketing world and I’ve fallen into the trap of buying too much stuff without knowing what I’m doing too many times! I enjoyed listening to your tips today, as they serve as an important reminder for me as to the proper approach and mind set one must have to become a professional marketer.

      Thanks again… looking forward to tip #4

      Michael

      Reply
    40. Mick

      Hey Eric, you give out very good quality advice and tips and I want to say thank you and show my appreciation. A lot of internet marketers are told to buy this & that and have spent nearly $1,000 before they begin to know what a profit looks like. Thanks for the honesty.

      Reply
    41. Jaya

      Dear Eric,

      I am interested in building the online business.I am ready to learn the online techniques also.

      Looking forward to learn from you.

      Reply
    42. Rom

      Hi, Eric

      GREAT lesson, completely shatters that “Anyone
      can do this business” illusion those IM Gurus ram down
      our throats every time they launch a new product.

      And yes I too am guilty of buying their products day in day out and leaving
      them on my hard drive gathering dust.

      Can’t wait for your next lessons and really
      for once just LEARN this business step by step.

      God Bless and keep it up. You truly are adding
      amazing value to all of our lives.

      Thanks

      Rom

      Reply

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