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. Janny

      Hi, I’m watching this training progress and just want to add that some people like me have to watch the broadband download so can’t watch a heap of videos. I’ll have to suffice with the written material.
      I’d appreciate if something most important in a video is mentioned in the text.
      Thanks, Janny

      Reply
    2. Micah

      Good points as well!

      Once the lesson series is completed, you will have the opportunity to purchase a DVD version of the entire course!

      Reply
    3. Paul D.

      Eric,
      OK I have the qualifications to continue with Internet Success.

      I’m ready for the next steps in learning about it.

      Blessings
      Paul DeKane

      Reply
    4. Laura

      Hi Eric, I am totally new to the online business idea. My husband bought this course for us to learn. He is very computer savvy & I have the marketing background. He is hoping this course will restore my faith in marketing as I have been ripped off badly in the past. Thank you for your help & may God bless you always!! Laura

      Reply
    5. tevfor

      i was looking at your list build courses. is list building a good place to start off for someone like myself that is new to im and hasn’t made any money if yes why

      Reply
    6. SANDY

      Thank you I have some knowledge about Affiliate Marketing most of the products but still I have to learn about Marketing them but not as paid and if I can do FREE to start to make money and after that I can follow your advice for the BEST WAY TO MARKET TO MAKE REALLY GOOD MONEY…Thank youuuu

      Reply
    7. Jimmy Dawat

      Eric,
      I’m newbie and willing to learn where to start “can I create website just as affiliate” ?

      I’m waiting for next lesson.

      God bless
      Jimmy Daway

      Reply
    8. Richard Darnell

      Hi Eric or staff, The time between lessons is longer than I need. Is there a legitimate way for me to access the next lesson as soon as I am comfortable to go forward? I am retired and, due to economy conditions, in need of some income as quickly as it is possible to get going. The eBook about 4 ways to earn a $1,000 caught my attention. Thanks for your suggestions, advice, and response, Richard

      Reply
    9. coker

      pls since have sign up with you.am not been able to listen to your lesson,due to accent.sir, i will prefare write up

      Reply
    10. Micah

      Hello Coker,

      Unfortunately, there aren’t any written transcripts currently. But, hopefully this will be an option at some point in the future.

      Reply
    11. Micah

      Hello Tevfor,

      Yes, list building is one of many great ways to get your business off the ground! Eric’s list building course is a good one for beginners to follow as well!

      Reply
    12. Yangman

      I started by opting in to as many affiliate marketing sites to receive their freebies, and then see what are they trying to sell me, including the way they sell, how’s their sales copy, their tone, what products they are promoting…etc. After a while (maybe like 2 weeks) you pretty much have an idea what is affiliate marketing all about.

      I’ve been in the business since Feb 2011 and I’ve not bought a single thing, except for the domain name and hosting service. But not seeing nay results yet ‘cos think I need lots of traffic, so I’ll just keep pumping up content and thinking of what to add to attract more visitors. Offering freebies is a good way to get traffic, but what and where to find them to offer is a real issue. What’s our advice?

      Reply
    13. Darminto

      Thanks Eric; I think this video told me the important step by step I have to know. It’s an interesting explaining…I always wait for the next step: lesson #4, 5, 6, 7 till the end of this course.

      Reply
    14. paulin

      Your are wright Rhea i almost miss to watch my second lesson Video thinking is the same stuff in reading

      Reply
    15. Dennis

      Thanks Eric, your presentation unfolds at a speed I can handle

      Reply
    16. Julia Skripko

      Hi Juliet, my name is Julia,i am65 years old and trying to learn marketing now it very hard for me, i bought so many courses, because i didn’t study computer at school it hard for me to understand everything, i am happy for your success, i wish to have a friend like you to ask for help, good luck in your life and business.

      Reply
    17. Richard

      Anyone who says:”I know that,” indicates they know next to nothing or they wouldn’t be on your site looking for tips. Call it The Law of Attraction.

      Reply
    18. randy pridemore

      i am primed and ready to go. i am impressed with the lessons you provide. marketing, done it, did it, love it. sales is in everybody’s life, some just don’t know that they have been doing it all thier life. computer savy, took cram course in the 80’s learned how to make programs for computer, including animation. BUT, it was taught on tandy computers, oops. today’s computers have c.d.’s. i have to learn to paste. i am ready for all the time it takes

      Reply
    19. Pauline

      Hi Eric,

      An internet marketing friend introduced me to your lessons about a year ago. I didn’t realise what a blessing he brought me until now, when I’m really hungry to learn how to create passive income, and after years of having been sent mail and spam from other internet marketers. I’m heeding your advice to stop buying things and am in the process of clearing my entire e-mail account of mail from other internet marketers!

      Reply
    20. Crystal

      Eric,
      Great video/blog post. Passive income can be achieved…I like your honesty in the beginning too. It takes a lot of hard work and determination…however, you’ve sure made it easier to swallow! Thanks again!

      Reply
    21. baidu678

      Im playing with my pen in my mouth as I read this article, hehe. I guess im really interested in the info in front of me. Kudos to you for making my brain work.

      Reply
    22. David

      Hi Eric,
      Great video/blog post. Passive income can be good and a) I’m willing to be a marketer… yes
      b) I like computers and the internet.. Yes
      c) I’m willing and able to learn (and I know it will take work) Yes

      Reply
    23. Shane

      Hi Eric.
      Some great ideas here…. STOP BUYING STUFF.

      My focus has been to keep my inbox emails not to go beyond 10 emails visibly. I still get about 30 to 50 emails a day…even after unsubscribing. So I have become brutal and only open the ones that I trust regarding marketing. So my mornings start by opening my current offline work, then the trusted online and the rest go into Yahoo spam file if I have already told them to take me off the mailing list.
      What used to take almost 2 hours before doing any work… now takes half an hour… AND LESS STRESS.

      So I say to all marketers, especially newbies…empty your emails regularly. And as Eric says STOP buying more digital dust.

      Reply
    24. Ilona

      Hi I just watched the first 3 lessons and find it amazing that no one has ever said that it is like learning 3 languages at once. for that honesty you deserve a medal . I love the internet and mastered facebook ok but when just one process doesnt work it is like the world is falling apart. ie trying to upload photos or anything and it did work and now it doesnt, you waste a whole day sometimes in frustration just fixing something like that . and if you give up it can take weeks. the problem is having no one who is savy to ask. Ie when you learn to drive you have a teacher . When you learn to fly you may have a simulator and a teacher . It is so frustrating learnig about what programs do and are capable of when they are also meant to teach you .I have spent in excess of 20,000 dollars and thats not ot boast that is more than I earned last year and most is onj credit cards and I have a websit but I want to be the one who designs what goes on it and be able to drive it. thats as well as making money ie contibuting to the family. does anyone else have these issues . and what have you done to get you further? Thanks Eric for these step by step lessons I am greatful

      Reply
    25. Gaston

      Hi Eric,

      I want to say thanks for this awesome program. I only just started, but I can feel true honesty coming from you. Btw you remind me so much this guy from the TV series LOST “Jacob”. He was a good guy, very smart and humble.
      I was redirected from one of Ewen Chia’s website to your firesale. I got the opportunity to seen him in the National Achievers Congress here in Sydney, and since then I really enjoy the idea to become a internet businessman.
      Looking forward until tomorrow for lesson 4.

      thanks a lot

      Gaston

      Reply
    26. John W

      Still deciding if this is for me. You’ve given me much to think about. THANKS!

      Reply
    27. Luafuluiva

      Thank you Eric for the lesson and for your being honest about all this stuff about the internet business.

      Reply
    28. Franco

      Great vid and I really appreciate the reality check about the hard work attitude requirements

      Reply
    29. molly mendez

      i need help figuring out what i want to market…and then how do i do it..how do i know i can make money of of the product or products i choose.

      Reply
    30. Jeanne

      GUILTY!!! Eric, I’m a jewelry designer and have been for the last 25 years+
      I used to do 40 shows a year, a real IN YOUR FACE marketing business. I just had to be there with great products and the buyers show up! What a difference from online marketing! I have a web builder and coach and just realized after listening to lesson 3 that I have yet to be successful to be an online marketer because I HATE the work! I’m going to start loving it TODAY!!!! It will be so much less stressful!!! I’m switching hats NOW!!! Thanks, Eric!

      Reply
    31. Skip Hyde

      Eric – I have had (and lost) lesson #4. Please send it again.

      Skip Hyde

      Reply
    32. dennis

      OKAY, i’M STILL EAGER TO FOLLOW YOUR INSTRUCTION. i HAVE ALL THE REQUIREMENTS YOU ASKED FOR. LET’S GIVE IT A TRY.

      Reply
    33. Nilda

      Watching lesson #3 made me realized that I made the biggest mistake of my life! I thought joining the Internet Marketing with a big investment, paying thousands of dollars that guru will make me rich quick, “did not”, but actually put me in debt! Learned a lot from lesson #3 and from now on, I promised myself “I won’t buy stuff” anymore until I’m done with your 100 lessons! Thanks again!!

      Reply
    34. Micah

      Hello Skip,

      Thank you for your question. The next lesson will be sent to you soon. You can also visit EricsTips.com 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

      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
    35. tom

      Well hello eric this is my first chat on line.. set up my domain name, looking to set up hosting account but as far as it goes i’m lost…Started with your offer on wednesday, the 11/16/2011 with the real coaching club.. will be building my web page next.. looking as to how to start affiliate marketing. In lesson 3 even before i watched your video, i decided i have spent enuff on this project. Let the learning process begin…I hope i have taken the right aproach to this,,, business…how do you get the affiliates going i think i have a clickbank account alread established… So much to learn, I have retire as a pipefitter of 43 years, X vietnam vet. Reminds me of hitting the jobs running two weeks to finish a project in a automobile pland, after engineers having two years to design and study the project, All tradesmen have to not only unerstand it but have it up and running, correcting the engineers mistakes.. hahahaha well as you can see i am up to the challenge Thanks need all the help you can send this way….. 62 years young….

      Reply
    36. Dena

      Eric,
      Thanks for your lessons. I really enjoy your approach. My husband and I have been in sales and marketing for about 10 years. Before that we were both computer programmers so I think we’re headed down the right path.
      Thanks for your help.

      Reply
    37. Jonathan

      I have been in various forms of Sales & Marketing most of my working life and appreciate the candid approach demonstrated in this video. I have however, decided to try and approach this with an open mind and follow the instructions with no pre-conceived ideas. Great content so far.

      Reply
    38. Eddie

      Hi Eric,
      My site is down since 22.12.2011, Server having issues to restore the back up.
      However, todays lesson was my most educational experience about an Online business. The techno stuff has kept me behind for the past 12 months. I have marketing background and skills and are willing to learn the techno stuff with your guidance. Your lessons are much appreciated.
      Stay blessed.
      Happy New Year.
      Eddie

      Reply
    39. Warren

      Eric. Just purchased your Instant Product Engine, and it looks like a complete business package. Currently going through the videos and
      anxious to get started. Also enjoying your course. A lot of insightful stuff here. Warren

      Reply
    40. Anthony

      Not sure if I did the right thing here, I hate up sells cos it’s never mentioned in the sales pitch which for me I believe can be misleading. I have been taken to the cleaners by so called gurus, even by the current no1 Internet marketer who guaranteed we would make money in 6 weeks. He was the only one who made a killing by selling a program that did not live up to it’s expectations.

      I wish there was a mentor who would not charge for membership until you made money with their program first proving it to be applicable not just for them but for everyone.

      I am crying out for help in Internet marketing I don’t know if this product will help me, I can’t afford to put any more money in, I already have a domain and hosting and a blog and paying a monthly fee for affiliate membership but have not earned one itty bitty cent. To me it seems all so called gurus are the same. I am not judging them by their nice sounding words or the fact they say they are Christian ( I myself am a devoted Christian) but whether they can deliver their promises or just be a little different.

      Just my thoughts
      Anthony

      Reply
    41. Anthony

      I wished I saw the advice to ‘STOP BUYING STUFF’ earlier, must stop being a sucker…

      Have a nice day all, forgive my rantings

      Reply

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