LESSON #7: What kind of online business will we build?

By | June 20, 2008

In the first 6 lessons, my goal has been more or less to give you the proper perspective of this whole online business thing.

So now let’s talk about what kind of business I’m going to be showing you how to build.

(Watch this video…)

Join my coaching club

Main points:

  • Primarily I’m going to be showing you how to build an information marketing business. In other words, you’re going to create and sell your own Info Product.

    (Info products may include… audios, videos, interviews, home study courses, workshops, teleseminars, webinars, email courses, newsletters, CD’s, DVD’s, books, and more)

  • Secondarily, I’ll be covering affiliate marketing because it really goes hand in hand quite nicely with information marketing.

  • These are the two methods by which I’ve made the most money online.

  • If you’ve already chosen another online busines path: although those are the two business models that I’ll be teaching, there are countless other types of businesses that could fit with much of what I’m going to teach. In other words, keep watching the lessons!

  • Why have I chosen the info product route?

    a) You need your own product!
    b) An information product can be created for low cost or zero cost.

    Action steps:

    1) Get some rest and get fired up to start your online business.

    So now that we know WHAT we’re going to do… the next step is to make sure you’ve got the proper tools on hand to get started. You don’t need a whole lot, but there are some things, and I’ll talk about those tools in the next lesson.

    As always, you are welcome to post your questions and comments below.

    Have a great day!

  • 342 thoughts on “LESSON #7: What kind of online business will we build?

    1. Hal

      Eric:

      For some reason Ididn’t receive Lesson #7. I came across the lesson on the Forum (Eric’s Tips 120 Forum.com) through Nico Pisani (Thanks Nico!!).

      For whatever reason it occured could you please reinstate my e-mail to the lesson distribution list again? Thanks.

      Hal

      Reply
    2. Ken Seal

      Eric,
      Any chance that you will offer downloadable versions of these lessons. Would be nice to be able to view offline.
      Ken Seal

      Reply
    3. Jayendra Kulkarni

      Hi Eric
      Nicely explained. But I am very much eager to learn further lessons. Cann’t bear to wait.
      Thanks.

      Reply
    4. Bryan Hee

      I prefer affiliate marketing rather then create my own product. It’s peace of mind to promote affiliate products. I advise that newbies start promote affiliate products first before creat own product,

      Some tips for you to choose affiliate products to promote:

      1. Quality product that clearly address the informational needs being expressed by your market.

      2. Have a unique ‘spin’ to set them apart from similar products on the market-for example: ’expert’ advice’, a ‘new discovery’, a ‘secret system’, a special format(e.g., audio, video, home-study course) or lots of informational value relative to the price.

      3. Are supported by a reputable merchant with a top-notch affiliate program that pays out generous commissions.(50% – 75%)

      4. Proven marketing tools (email ads, graphics, etc.)

      5.High converting sales letter

      6.No cost to join

      To Your Success
      Bryan Hee
      Generate Huge Monthly Commission From Home
      http://hugeresidualincome.pinurl.com

      Reply
    5. Jeff

      Eric – I like to say a great big thank you. My wife and I have really, really, benefited from your candid “tips”. We are new to starting anything on the internet in a business sence, and what we’ve found so far is that everyone wants our credit card number, but after that there isn’t much they are willing to do for us. Your well thought out plans, and explaining everything without any “pushing”, is just what we’ve needed. We look forward to each and every email you send. Thanks again, and I trust that as we get further into the following emails from you, that we’ll actually learn how to put money in our pockets, instead of spending, spending, spending. All the best in Beleize

      Reply
    6. mohd ariff

      Yes, it’s going to be more interesting onwards of your lessons. We looking forwards to learn more from you.

      Really sometimes, we didn’t know how to thank you even the lessons is still far beyond our success.

      Thanks
      Regards, Mohd.

      Reply
    7. Mary

      Eric!! That was sort of a tease…..don’t you think? Even though I’ve chosen business owner as my route, I know I’ll learn everything I need to know from you. Patiently awaiting lesson #8.

      Thanks for all you do.
      Mary

      Reply
    8. Oscar

      Please help me, I want to know what is the best way to name web pages. For example is it better to use hyphens eg: sardine-run.html Please tell me what the the most benefitial way to name web pages in terms of getting a better rank from search engines.

      Thaanks

      Keep up the great work

      Oscar

      Reply
    9. andrew pardoe

      So far so good Eric. I have low capital, so what you’re suggesting sounds ideal, I have attempted your Writing Cash Program, but don’t have a scooby about adwords and the products that claim to teach ”how-to” beat adwords – are obviously unreliable and expensive; to me anyway. I don’t recommend anyone purchase any type of product related to beating adwords, unless you can 100% rely on the source, of which the product is coming from. I have a Microsoft powered website and don’t know how to make some E – books downloadable from the site, can any one help.

      All the best to everyone on their venture!.

      Reply
    10. andrew pardoe

      I would have sponsered your charity cause, as a Christian I believe in supporting others that have limited resources and prospects.

      As I said in my last comment I have limited capital, although I aim for that to change, I have faith in your program – since it seems to be one of a kind and down to earth, and step – by – step tuition, I evaluate it as genuine and reliable information – based training.

      Thankyou Eric.

      Reply
    11. ishtiaq

      Can I sell( promote) other peoples product from clickbank on ebay? I’m very keen on learning abt ebay and starting that biz along with what I’ll learn from you.

      Reply
    12. Katarina

      I will do this simultaneously as you do.I was always able to find leads but not much luck in selling or converting them.

      Reply
    13. Kevin

      Info Based Products – Great.

      I host a Creative Website in Ireland basically advertising Writing Contests (the site was the by-product of a contest I ran for my club some years back)

      At present I am trying to launch a Blog aimed at the Irish exiles in America and can see how info products fit in there. Unfortunately the numbers are not that big at the moment 🙁 and I really have not worked out what topics/issues I should be aiming at. If there are any Irish exiles reading this why not drop me a line and let me know what you would like to see.

      I’ve been a fan of Eric’s for many years now and am really looking forward to this course, especially as it is Free!!!

      Kevin
      http://www.worldwide-infomedia-services.com

      Reply
    14. Keith

      How do you get your videos to stream so quickly on a slow connection? (And without an apparent loss of size or quality.) I’m struggling with that on my own site.

      Reply
    15. Sid

      Hi Eric,

      My wife and I have had a bricks and morter business for 25 years. The overhead is aways a battle… the online business model is a great opportunity for your readers. The biggest battle for most of them will be to overcome what I call “the junk marketers.” Anyone that gets 50 or more spam emails a day is turned off by the hype and deception.

      Thanks for your honest approach… it is badly needed

      Reply
    16. George

      Hi Eric I am still pump up for the remaining lessons,Thank Eric.

      Reply
    17. George

      I forgot Eric did you receive my mail? If not I will be sending it again

      Reply
    18. Carl

      Hi Eric, the tips you’re giving here are great. Just a note to everyone who’s new to business: Why is it important to produce the product at zero cost?

      Say you have a lemonade stand. You make a pitcher of lemonade for $3.00 and sell 5 glasses of lemonade for $1.00 each. You’ve made $2.00 profit, or 67%.

      If you didn’t manage to sell anything (which is possible, considering it might rain that day), you’ve lost money, your investment of $3.00.

      If you grow your own lemons or pluck them from your neighbour’s tree (with their permission of course) and you borrowed the sugar, you have zero cost. Even if you don’t sell any glasses, you haven’t lost money! You can drink them all yourself. If you sell 2 glasses only, you’d still PROFIT $2.00 because your cost was zero. And how many days can you keep on selling lemonade this way? Unlimited!

      Reply
    19. Ryan

      Hi Eric,
      While I’m not totally new to IM, it’s good to review some of the basics and learn something new. Like I never could distinguish self-employed and business owner. Always thought they were one and the same. Now I see the difference, thanks to you.
      Cheers,
      Ryan

      Reply
    20. Guita

      Erik, your info is great. I have signed up in many lists but I only remain in yours. My problem with your lessons is that English is not my primary language so I would prefer to read your lessons because listening is harder for me. Keep this in mind 🙂
      Thanks!

      Reply
    21. jw portier

      i have been getting erics tips for a while..i am interested in having an e-business..i am going to listen to all the lessons..but for the life of me i cannot figure why anyone would give meaningful info for free..so far the lesons have been very basic, but they are true..so i listen and watch…and still wonder whats in it for you..tis rare a person thats cares and even more so one who gives away something of value for free..jw

      Reply
    22. Louise

      I’m so excited. Could it be possible that I can make some money????? I’m not very computer smart so I fall beneath most of the emails you are receiving. I’m willing and ready and have a product in mind. Thank you so much because I could not afford to pay for lessons. Thanks again. Louise

      Reply
    23. benjio

      I have watched the well put together previous 6 and now I cannot watch the seventh, because I cannot get the update for the player!!! I tells me to shut down FireFox and I still cannot do it. Any suggestions? Thanks.

      Reply
    24. Jaunesk

      While you may have traffic but if there is no plan to capture the mailing address of your visitors, you are giving away the goose that lay the golden egg.

      Jaunesk
      Get a FREE autoresponder with no sponsor ads here to boost you online business
      http://tinyurl.com/6c6rst

      Reply
    25. Liz

      sorry, but i disagree with that Eric, i think all your lessons are so valuable. I really miss my lessones each day but i understand a day of rest to so thank you so much for being back today. Info is perfect for me even if you’re just interested in a subject you can read other materials and produce your own, especially if you already hav e a blog running.

      Your soon trip sounds so worthy, I wish to say, please take our hugs and well wishes to the children you will be helping. Let them know they are not forgotten in our prayers. And a safe trip to you and yours.

      hurry home
      Liz

      Reply
    26. Pinchas

      Hi, Eric!
      I can’t receive Lesson #7.
      I see only ‘Loading Video…’
      but nothing happens.
      HELP!

      Pinchas
      21/06/08

      Reply
    27. El Link de Forum de Eric's Tips

      Hola Guita, como esta en Chile? Muy frio ahora, no? Usted puede leer todas las lecciones en ingles, en el Forum. Estoy haciendo un escrito de un resumen de cada una de las lecciones. Usted las puede leer en el link arriba. Creo que usted entiende algo de ingles escrito. pero si tiene alguna duda, yo le puedo ayudar. Pura Vida! Nico

      Reply
    28. Iftekhar Hussain

      Hi! Eric,

      I just received your 7th lesson. I am in process of mind builiding to start on-line business.
      My inbox is flooded with e-mails telling me how to get rich in 15 minutes to 15weeks.
      At the end of every mail there is a product to be purchased for some dollars.
      There is none to offer to start business without paying them i.e. without giving them Credit card number or paypal account detail.
      This creates doubt in mind.
      Your lesson is good to make up mind to start on-line business.
      Many thanks Eric.
      Regards- Iftekhar Hussain

      Reply
    29. adri

      You said we have to make our own product, what kind of product we have to make I thinks it’s difficult for us as beginner to make our own product to sell

      Reply
    30. Petre Tudor

      Hi Eric,

      This weekend I succeeded to catch up with your lessons because you send them daily and I have enough time each time to stay on the net.I just posted twice (Lesson #1&2) my comments and questions but you never answered me.
      Now I hope you’ll read my comments and questions and reply your answer.
      What is time when we are sure you see our posts?
      Your lessons become more and more interesant.
      Are you going to cover step to step all 18 ways to start an online business?
      I like both kinds of online business my own product and affiliate programs.
      I’ve Writing Cash membership and learned to create my own product but to sell it less. I still didn’t create its sales letter.Also I learned to set up and promote affiliate products (writihg cash,HyperVre…) but I never earned commissions because bids for keyword there are too expensive and I paused my ads.I never got bids of $0.05 for keywords.

      I hope you’ll cover some more details for affiliate programs to sell them.

      I hope your action steps will be more and little for each lesson from now on.

      Respectfully,
      Petre Tudor

      Reply
    31. Sally

      Hello Eric!
      Thank you for putting all this in a very organized way. I am like that too-I have to know first things first and have a road map. There is a lot of information on the web, but it is all disjointed. You have put it in its proper perspective. Any body looking to have an online business should pay close attention to your lessons. I am! Thanks a bunch!

      Reply
    32. John

      Eric,
      Perhaps it’s providential (ok…likely it’s a God thing) but your lessons are coming along just as my wife and I, through no fault of our own, just lost our teaching jobs. We didn’t intend our careers to end like this after almost a combined eighty years in both public and Christian schools, but that’s the way it is.

      I believe your tips and training will be the mechanism that God uses to at least supplement our social security, and hopefully, even replace our lost teaching salaries.

      Thanks for the obviously sensitive spirit and energy you portray as you teach us good stuff.

      John

      Reply
    33. Michael Ogu

      Eric,
      Thanks for your attempts to teach us how to make money online through info. products. I have always been much interested in this line of business but lack of the technical knowledge has so far hindered my from progress. I for example already have an ebooks website but can’t operate it successfully because I do not know how to effectively bring traffic to it. The company I paid to provide to bring traffic claim to have sent over 70,000 traffic to this website but there is zero evidence to support this claim.
      Well, I hope to continue with your lessons to explore the possibility of making a break through in info. business.

      Meanwhile, keep it up Eric and greetings.

      Michael Ogu
      http://www.ebooks4amazingsuccess.com

      Reply
    34. Gary

      Hi Eric, I’m a computer programmer/instructor and I’m very much enlightened with your topics about sales and marketing.. I hope that I can learn more from you and I want to personally THANK YOU for sharing your ideas FREELY!

      God bless you and your wonderful family!

      Reply
    35. Luis

      Eric Im needing this kind of help. I a newbee in the Internet Marketing Business. I need to learn how to get traffic and a how to do a blog and Website.

      Reply
    36. Brian

      Hi Oscar,

      I don’t claim to be an SEO expert, but I do follow the latest SEO news from the experts. In the past, it was apparently easier for a search engine spider to read the keywords in a domain name if it was hyphenated.

      However, that is no longer the case, and in fact, hyphenated domains are considered ‘spammy’ by some search engines. So you’d be better off to leave out the hyphens on your (root) domain names.

      However, on web pages (extensions) like you mention, I don’t know if there’s a definitive answer, but on WordPress blogs, which are SEO-friendly, the extensions (pages) are usually hyphenated, e.g. http://www.thisismyblog.com/all-about-me.

      More important for ranking, though, is to concentrate on backlinks and on-page optimization, like good keyword-rich content (but not keyword stuffing), meta tags, and so forth. Get some backlinks directed to those inner pages instead of just your home page.

      Reply
    37. Guita

      Hi Nico, yes, I understand quite well spoken English and perfectly when it is written 🙂
      Estoy en Perú, y voy a visitar tu foro, gracias por transcribir las lecciones de Erik. Son buenísimas, ¿verdad? Un abrazo!!

      Reply
    38. Gus. D

      Hi Eric:
      My only wish is that I would have known you sooner.I have been trying to get some kind of business going to give me income as my place of employment closed.I only have 2 years to 65 and I know the government isn’t going to be too concerened about that. Well Eric I appreciate you helping people like me to better themselves.
      Best of luck to you in the future,
      Gus

      Reply
    39. Don

      Thanks so much. I’m already starting to dream of my product. So this is good!

      Reply
    40. Eric Post author

      Hi Hal, most likely you just haven’t received the email yet and you will in the next 24 hours. Since I’m putting all of them on my autoresponder (rather than broadcasting them(, they are going out to different people at different times. If you would like to make sure you’re still on the list, just signup here again:

      Join Eric’s Tips

      Reply
    41. Eric Post author

      That’s a very good idea Ken, but I’m going to wait until they’re all done first, and then release them as a collection. For now I want to make sure people are coming to my blog so I can get feedback.

      Reply
    42. Eric Post author

      Brian, Anna, Kelvin – great comments, but if you guys are all the same person then maybe you could stick to one persona per lesson 😉 It’s cool, just don’t over do it.

      Reply
    43. Eric Post author

      Yes I suppose you could call it a tease 🙂 but I did need to explain and justify the business model I’ve chosen to teach.

      Reply
    44. Eric Post author

      Brian has some good points, and the short answer is that you want to name your page…

      1) based on the most important keyword on that page, if your goal is SEO

      2) based on something sensible and memorable if your goal is user-friendliness

      Reply

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