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. Laurence

      Hi Everyone. I am truely impressed with so many praising God for being here, thanking God for Eric, and each other. Many of you are helping the underprivlidged as well.
      That Encouraces me. I myself am a pastor of a very small church in Belfast. called
      The Upper Room Church
      http://www.theupperroomchurchbelfast.com
      I built the site myself, not very professional i know but it is OK. Now my reason for wanting to succeed in an online business is the same reason as many of you have. Not to make me richer or give me a bigger wallet. But to be able to support and provide for the less fortunate. I know i am only on lesson 3, Here is as far as i have got. I purchased a Domain
      Relentless Motivator,com. Nothing done with it yet. I have push button Marketer, Havn’t a clue about it. Signed up for AWeber, Dont have a product to give away, dont know how to get one to start. May the Lord bless you all. and thank you Eric for developing such a site.
      Laurence

      Reply
    2. Linda Marie Hastings

      Hello Eric, I just wanted to say hello and thank you for taking the time to teach me about Marketing and Online Business. I graduated East Central University in Ada, Oklahoma, December of 1991 with a BA in Bus/Ofc Technology. I have always wanted to put those book skills I learned in college to use. Up until now, there has not been any room to explore what I may or may not remember from College. I want to tell you here and now Eric: I am commiting myself to following your teachings, but like you did make mention, I need to make some money before I can spend any. Please help me to do this! I believe you can! Have a very Blessed Day.
      Linda Marie Hastings

      Reply
    3. Eric Post author

      It will probably take some time before you’re making money, because I’m trying to set you up for long-term success (unlike many teachers who teach flash-in-the-pan tactics). I’m going to give you my very best business building strategy throughout the lessons. Of course there are no guarantees, but if you follow them I believe you will have a very good chance at success.

      Reply
    4. Clayton Eric Butler

      Hello Eric,

      Thank you for your willingness to teach us internet marketing. I do have a real concern about the Internet. I’ve heard through the grapevine that the FCC may be siding with the big telecom lobbyists–Verizon, Comcast, & AT&T–in abandoning the principle of net neutrality (a principle that the Internet should be open to all). I also hear that President Barack Obama could decide this week not to reclaim the authority needed to regulate broadband companies. I think net neutrality is crucial in keeping the Internet open, available and affordable to all Americans. This could definitely affect domestic sales of Internet products and/or services herein the U.S., because there would be less prospective customers to whom to sell. If the Federal Government allows the FCC to abandon net neutrality, other countries may follow suit. Then, this could IM sales GLOBALLY. STOP ME IF I’M READING TO FAR INTO THIS THING.

      What’s your opinion on this?

      Reply
    5. Eric Post author

      I think you’re reading to far into it. I do not think the net neutrality issue will ever stop internet marketing.

      However (and I’ve never talked about this in my lessons), I do believe that the internet as we know it could disappear at any time. But it would not happen as a result of FCC or the president making a new law. It would happen as a result of a cataclysmic event such as nuclear war, or a terrorist attack specifically against the Internet.

      So I think we should take advantage of the opportunity we have right now, because you never know when it could end.

      Reply
    6. Ivan

      Hi Eric,
      Is it all possible to speed up by giving me 3 – more lessons a day? I am a disability pensioner and have the time to do the lessons at home. I am anxious to get going and earn some real money.

      Regards
      IVAN STANDER

      Reply
    7. BryonR.

      Hey ERIC !

      Ya’know, I have determined to do this IM thing and although it is totally alien to me I know this is what I need to do and it’s what I’ve been made to do. At 52 yrs.old, with absolutely “NO” PC & IM skills/experience I am purposed in my heart to succeed. Thank you Brother for your heart and time in putting together these tutorials for people, such as myself. Your “Spirit” inspires me to march on in “Faith”. “Spirit is Word and Word is Spirit”. Spirit has a vibration to it and yours has a positive ONE. In His Majesty’s Service, God Bless, BryonR.

      Reply
    8. Mark Coulthard

      “Stop Buying Stuff”very sound advice, but isn’t that the way of online businesses, I have dabbled for a few years now with online businesses, mostly without much success, probably with a lack of dedication or not finding that buss that I felt comfortable with. The temptation to keep on buying stuff is a real problem for newbies, it is too easy to get caught up in the hype and BS, thats where most come undone, and thats the reason all those so called GURU’S make their money and you don’t. The Man Is Making Sense.

      Reply
    9. Coy

      ANTHONY JUST CLICK ON MOVE TO WHEN YOU ARE ON ERIC’S TIPS EMAIL AND CREATE A NAME FOR IT. MINE IS ERIC’S TIPS. HOPE THIS HELPS….COY

      Reply
    10. Sharon

      Ivan, go to the top address bar and change the number to go to the next lesson.

      Reply
    11. Jibrin

      Hi Eric,
      Many thanks for an execellent presentation.
      I wish I had paid attention to your videos 2 years ago instead of running from one opportunity to another until I became broke.

      Have learned through the hard way that one cannot simply wish himself into Online success without mastering the basic principles and skills.

      I am now with you. Thanks

      Reply
    12. scott white

      Hi Eric,
      I have just goten involved with your site Erics Tips,and just watched the 3rd video,which I submitted a ticket that the video wasnt working.(Sorry, close that one.)Any how at the present time I am unemployed and I wondered if there was a way I could fast track your videos? Since I now have the time to try to get them all in. I would like to be able to concentrate on 3-4 videos a day if possible. Please let me know if this can be arranged.By the way,you do one heck of a job in your presentations from what I have seen so far. Thanks,Scott

      Reply
    13. Christa

      So many just jump into internet marketing without being prepared. This lesson is great for a newbie to prepare him or herself.
      You offer great value and then people start to buy and this is a marketing secret.

      Reply
    14. Don Kibby

      Let’s do this right…

      Eric great training! Buying too many programs will eventually overwhelm a new marketer and tend to make them jumb from one thing to another without focusing on a specific marketing plan

      Reply
    15. Richard Rogers

      I’ve been at this one for 32 years now. I’ll be having a sale October 2nd. I’m still learning about internet marketing. Right now I’m working at getting links for my secondary pages, and adding more text.

      Reply
    16. Jorge Dutra

      Hi Eric,

      I have all 18+ years computer stuff, Business Administrations Diploma, 4+ years of internet stuff. I love your program!!!!!

      Reply
    17. Leticia M Morgan

      Dear Eric

      It was just a relief to find you in the internet…you are a guru with a heart of giving..at first I was afraid to even go or open your video thinkin another video to get money but I was mistaken and am sorry for that thought.

      I am here with the desire to follow every steps, starting online business is the first thing I must do…I am with my vision that in starting online business I can help myself, my beloved family and friends have hope that with my example there is a properous life out there.

      Your greateful friend

      Leticia Morgan

      Reply
    18. Philip

      Hi Eric,
      So far i have heard your lessons 1,2&3 and i like your straight to the point instructions. Looking forward to hearing your lessons before i make my decision. Thanks and happy selling.

      Reply
    19. James

      Slow and easy is the best way. It was the tortoise that won the race, and if you read some of the comments in lesson two, how do you eat an elephant? One bite at a time. My personal experience is if you jump too fast, you will always jump off the cliff, but if you pace yourself and be honest and passionate about your business, your passion will always perservere.

      Reply
    20. mustapha

      Hi Eric
      i am encouraged by this statement “stop buying stuff”.since i lost a lot of money in forex bussiness,i told myself never to buy anything on the net unless i know exactly how i am going to benefit from it.thanks again for that resounding note.

      Reply
    21. ben

      It is a relief to hear the truth – and not the salesman’s sizzle. What you are saying so far, resonates. Thanks!

      Reply
    22. Rose

      I have purchased to much stuff and than not knowing what to do with it afterwards. I know there has to be away to make money but its seems very overwhelming. Is there not a course that would take you step by step from start to finish. How to get traffic, how to set up PLR. If you could teach someone how to do one than the could move on. I mean from the very basic to actually making some dollars.

      Reply
    23. Lloyd Hrdlichka

      Just listened to lesson #3, and thank you for clarifying some misguided fears for getting started. I don’t hate sales, but I do not want to do live in the moment marketing, such as telephone sales calls, or face to face selling like with many MLM type business models, by the way, MLM is one model I will try to avoid in my online arsenal of business choices…I look forward to lesson 3…Friends, Lloyd.

      Reply
    24. Yves P

      I have been looking for an Internet opportunity for more than 5 years now… The results: the so called Gurus get richer and richer, and I am still broke, but I never gave up. For the first time I feel at the right place at the right time.
      Go Eric keep up the good work… I AM READY

      Yves

      Reply
    25. Carolyn

      I have spent precious time and thousands of dollars and made zero money so far online.
      Thankyou for this step by step course that gives me some hope of making sense of how to learn to become a successful internet online business marketer.Eric you are a Godsend. I surely was suffering from paralysis by analysis.

      Reply
    26. James

      Hi Eric, Wish that you would have been the first marketer that I had bought from. It would have saved me a ton of money.I really like your honesty about running an online business.I too have been bombarded with all kinds of information and most of it I don’nt know where to start. Keep your emails coming and I’ll just kick back and listen.

      Reply
    27. Mostafa

      Hi Eric Plz send me three lessons per day I have time and I can follow up
      Thx

      Reply
    28. Mark

      thanks for this video.. I don’t hate sales because I use to sell airline tix thru Continental. But the sales style I cringe upon on is the hard sell or that car sales man type style.. You know when you go to an MLM(when you accidentally crashed it when you thought it was a job interview?)meeting.

      I’m interested on what kind of style people respond.

      Reply
    29. Mark

      I said the same thing l.o.l.. I will avoid it too.. It turns people off .. But I’m not sure if Erics intention is to love all sales to have some clarity on it..

      Thank you Eric.. I really really like the way you approach things.. That’s why i’m here..

      Reply
    30. Nicolas Tan

      Hi Eric, as mentioned before, I’m a newbie, that’s why I still don’t have a website and if I have, I still have no idea how to make a link like some of your subscribers are doing, that by just clicking their name you will be directed to their website.

      Another strange thing to me, now i really look funny, is with regard to the comment of a certain BARB above, the name don’t link you to any website but you are able to know who hosted its website.

      Will I be able to learn these features as we go along with your lessons or can you provide me the answers after reading this comment? Thanks.

      Reply
    31. Eric Post author

      Yes you’ll learn how to set up your own website. Not sure about the comment from Barb, as I don’t see anything linked.

      Reply
    32. brenda

      You have me hooked when you told me to stop buying useless junk until the time is right. I have thrown all my junk and courses in a box (may or may not get back to them) because they were all way over my head at the time. I have a much better understanding of more of the terms now but I am still terrified to open the box of junk as I feel it is all overload… my mentor was Derek Gehl whom I heard was a fantastic teacher, but alas I couldn’t keep up to him so after 6 months I quit. Then it was on to the next and so on. You speak my language and even though it is only lesson 3 I feel I have finally found someone I can understand. Thank you Eric.

      Reply
    33. wally

      Finally someone that teels the truth. I love your style I love to write songs great to see you produce music the universal gift. would love to send you a few of my projects A Gift and my brother’s keeper

      Reply
    34. Bob McCormack

      Well 3 down 97 to go. I hope the content stays as pointed and enlightening. It is really nice to deal with someone in the Internet business not out to empty you wallet. Thanks for your time and efforts on the behalf of a lot of us wanting to learn.You are a well grounded young man. Bob

      Reply
    35. Rhea

      I suspect he just read the blurb and did not watch the video. This is my first time on your site and almost did the same thing- and am so glad I took the time to watch the video as it is great, so informative and down to earth and clear I am now going to be paying attention to all your stuff! But perhaps you need to remember to say in your written post to watch the video not just at the top, but also at the bottom of the post to clarify that the video contains more info- while a regular might know your vids always include more, a new hit skimming your content might not. Many assume if there is writing it is the same stuff.

      Reply
    36. Michael McCallum

      Eric…you are too right about STOP BUYING!!! I have never bought anything from anyone yet. At first it was because I just didn’t have any extra money. After a while I started noticing that most of the guys who’s list I was on were selling the same stuff. They are all JV partners hawking the same product. Another thing I came to realize was unless you are already well versed in the IM world and have a good list and a well known internet prescence none of these products are going to work for a newbie. That’s why your lessons are such a godsend and also a breath of fresh air for me. You tell it like it is and in such an easy to understand way. The realistic way you warn people about the work aspect is as truthful as it gets. Anyway a great resource for anyone, newbie or not is imreportcard.com. It is a review site for IM products, websites and sellers. Just type in any name, product or IM website and hit the go button. You will see lots of reviews by real people about most any IM stuff you can name. I have avoided more than a few bogus IM products and “gurus” by using this site. Thanks for the lessons. Can’t wait for lesson 4!

      Reply
    37. Om Prakash

      I am sure, I’ve all three, you described in this lesson. I am eager to learn & earn, I’ve all basic computer knowledge and I also have will to work. So, go ahead and teach me properly.

      Reply
    38. Karen

      Hi Eric,
      I got in on your Trading Pro System deal. It is the first one I actually jumped on. The follow up tutorial is great as well. I am a newbie, but this does seem like a good program to get my feet wet with. This lesson is very fitting for this question. There were two recommended resources on the download page. Before spending money on either, I would like to know if you have used or are using either of those resources. I would like your input. It would be an extra expensive on top of a few that I need to make to get this site up and running. Should I invest in one of the resources now or just stop buying? Thanks for your time.

      Karen

      Reply
    39. Eric Post author

      Hi Karen, thanks for your business :). As far as things to buy… Priority #1 would be to get a domain and web hosting, which I mention in the tutorial, as well as lesson #23 and #24 here on my site. The next most important resource would be list hosting to start building your prospect and customer lists (I cover this extensively starting in lesson #59). Beyond those things, I would not worry about buying much else at this stage of the game. I would recommend following my lessons, and let me know if you have any questions about specific things you’re considering investing in.

      Reply
    40. Adrian

      Never stop learning so all’s well with that one, problem is like you said earlier so much going on, it’s how best to actually organise and develop the ideas into a viable business. Patience by the bucketful is tha key & Nice One for thy continued support and advice

      Inabit

      Reply
    41. Sherrie

      Very true. I have had to take the responsibility to educate myself with website building, affiliate marketing, etc.
      I have come a long way, but I know that I must continue.

      Thanks Eric

      Reply
    42. Eric Post author

      Yes that’s pretty much the main point of this lesson series, with an emphasis on information products 🙂

      Reply

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