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…)

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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. Eric Post author

      Not really. Ebay no longer allows digital products. However there are definitely ways to incorporate affiliate marketing with ebay. Ebay can be a great traffic source. I think some affiliate marketers who use Ebay for traffic tend to bend the rules of Ebay’s TOS, but there are definitely some legitimate strategies, particularly if you’re willing to be a real Ebay seller as a side business.

      Reply
    2. Eric Post author

      I use camtasia, and they are fairly compressed. On these screen capture videos, I typically only export them at 1 or 5 frames per second, which keeps the file size much smaller. If there’s not a lot of action on the screen, you can get away with such a low FPS rate. I’ll try to cover most of this in a future lesson. If all else fails you could in many cases just use a free video host like Youtube or Revver.

      Reply
    3. Eric Post author

      George- due to the amount of email I receive daily, I typically do not respond to it, and often i don’t even see it. The best chance of getting feedback from me is here on my blog, and if you have any problems with any of my products, then the best thing is to submit a ticket at my helpdesk.

      Reply
    4. Eric Post author

      That is strange. I wish I knew how to fix that issue. In the mean time maybe you could try a different browser, like Internet Explorer…

      Reply
    5. Eric Post author

      hehe, I appreciate the enthusiasm, but I need a day of rest for me 🙂 I’m planning on getting a couple more lessons posted before I leave for Belize, then don’t worry I’ll be back in action as soon as I get back

      Reply
    6. Eric Post author

      Maybe try closing all programs on your computer, clear internet history and try again…

      Reply
    7. Eric Post author

      It’s not as hard as you may think. But I will also be covering ways to have someone else create it for you…

      Reply
    8. Eric Post author

      If you want me to see your reply, then you generally need to post your comment within 48 hours of when I post the lesson. I will not be covering all 18 ways of making money online, Only the ones mentioned in Lesson #7. Thanks

      Reply
    9. Eric Post author

      I admire all your years of service, and i’m sure you were a blessing to countless students. I hope my lessons can help you.

      Reply
    10. Kathy Filia

      Sounds good to me Eric !

      My view on this is that traffic, website building, search enginine optimisation, blogging and now social marketing etc are good models – and now having your own product – is suggested too.

      The thing is that I haven’t succeeded yet in any of the other things listed, so succeeding in marketing my own product seems a little out of reach.

      We need to learn from proven methods and proven ways of going about things. Reinventing the wheel isn’t on at all.

      It’s just that writing articles and bombarding the web with content still seems a bit hit and miss to me. So those other models re: emailing, couses etc sound reasonably possible.

      Here’s my website where some discussion about these things is welcome from those who want to take this a bit further.

      http://wealthyaffiliatepage.com/

      Reply
    11. Warren

      Hi Eric;
      I work the second shift,get home about 11:30 and come straight to my computer to check out your next lesson. I listen to them two or three times and keep hoping that another will be on my e-mail when I click back.
      By the way I’ll send you the $49 before you leave for your mission trip.Wish you the very best. Thanks Warren

      Reply
    12. Bob

      Hi Eric,
      Excellent materials, I can hardly wait for the next lesson. Is there a way I can save these to disk so I can watch w/o being online? I have both Apple and Windows platforms.

      Thanks again for excellent information.
      Bob

      Reply
    13. Charles LaFountaine

      Greetings Eric!

      Can I download your lesson videos?

      I really appreciate what you are doing here; it’s exactly what I need to get started. I also appreciate the fact that you are a committed Christian.

      Reply
    14. Mary

      Eric, I hope that 48 hours isn’t up yet for responses. If so, I’ll post again in lesson 8. I would love to buy your ebooks and help the cause. Since I don’t have an appropriate web site (mine is a business opportunity site) for info products, would you suggest getting a domain name, building a weebly squeeze page and then driving traffic to it?

      Reply
    15. Gerry

      Just a line to say that I dont yet know how to use the PLR Eric is offering as fundraisers as I am only a beginner.
      Any suggestions?

      Reply
    16. ishtiaq

      Hi Eric,
      I’m anxiouly waiting to receive and start learning from you what you have to teach about these 2 internet biz. In the meantime is it possible to receive from you recomendation about the GURU whom you think is the best in teaching ebay nitty gritty and from whom you would learn too. Why ebayfor me? It is very much in line with what I do right now ie match the buyers and sellers but do it physically. Thanks for your help. Cheers!

      Reply
    17. Gonzalo

      Hi Eric,

      THANK YOU for these great lessons, and for your down-to-earth honest approach. Lesson 6 has been my favourite so far (because of the rich content, careful explanations and advice), and I’m really glad you chose an info product because it’s what I prefer too (for the same reasons you stated).

      I have a problem! I bought the package you’re promoting for the fundraiser (the musical/self help package), and I STUPIDLY closed the window before claiming it. At the paypal confirmation page I clicked on “go back to Eric Holmlund” but when I got the “third parties can see the information being sent” warning I figured it’d be safer to close it, since I had the lessons page open on another tab. As soon as I closed it I realized my mistake, and I haven’t received anything else in my paypal email inbox (if you need it to confirm my purchase, it’s the same as the one I listed above; just replace the “gdi” with “paypal”… yeah I love yahoo’s disposable addresses, lol)

      So can you help me? How can I download the package??

      Thanks, and keep up the awesome work!

      – Gonzalo

      Reply
    18. Jon

      I am sorry to be the squeaky wheel, but I have got to tell you, Eric — this training is moving way to slow. It may be hard to gauge what newbies really need when you have been in the game for a while. Perhaps you have taken newbie complaints of info overload and paralysis too literally and gone to the opposite extreme. But I am here to tell you that the amount and pace of info you are providing is too small and too slow for all but the dullest tool in the shed. Shift into higher gear, my friend, so we can feel that we are moving forward and not spinning our wheels.

      Reply
    19. Eric Post author

      Thanks Bob, currently I am not offering them for download, but I might when they are all done.

      Reply
    20. Eric Post author

      I know there are probably quite a few people who feel this way, and I appreciate your input. But for now, I’m doing the best I can. I keep a busy schedule, and I have to balance family/work, and other things. This week I’ve been focused on getting ready for our trip to Belize.

      New subscribers who join Eric’s Tips in the future will have the benefit of going through the lessons as fast as they want, but since I’m posting them as I make them, there’s not much choice for now.

      Even though the rubber hasn’t hit the road yet, I don’t want to skip any of these foundational issues, because lack of this knowledge is a big part of why a lot of newbies fail. However, after about another 10 lessons the action steps will get a lot more time consuming which will make it feel like you’re moving more.

      Reply
    21. Gonzalo

      Hola Guita, yo también soy de Perú!! Ya somos dos, jejeje… suerte con el curso, un abrazo!

      – Gonzalo

      Reply
    22. Mary

      Hey Squeaky Wheel…….what Eric is doing for FREE, may I remind you, is exactly what we newbies need! Please be patient and don’t look a gift horse in the mouth.

      Reply
    23. Eric

      Hi Eric, sorry but I did not know where else to ask this. I saw your testimonial on Web Traffic Machine and Article Underground. Which would you recomed I start with on a budget?

      Reply
    24. Gonzalo

      One more question, Eric…

      I assume you’re going to include the process of setting up a payment method on the website we’ll be creating. Roughly when do you plan on talking about this (I mean, if it’s close or far off still in terms of lessons)? Because I’ve been looking on paypal for options on receiving payments that aren’t having someone send a payment directly to your email address and can’t find the way. I want to know how to set it up so they click on, say, a paypal button and to take them to the pay page (or how to accept credit cards too). If you’re already planning on touching those points, then great! I’m really just curious as to when you plan on explaining that aspect of an online business. I imagine it’s a bit later on still, right? How much later on?

      Thanks again! Oh and I got the download link I needed from Micah, thanks for the quick response!

      – Gonzalo

      Reply
    25. Loren

      Eric, you should come teach your lessons at Notre Dame 😀

      Reply
    26. Eric Post author

      LOL, glad to see you’ve taken a brief moment away from your studies 🙂

      Now get back to work!

      E

      Reply
    27. Erika

      Hello and thank you for your efforts in teaching online business. There truly are so many scams about making money online. I appreciate what you are offering to us who want to learn and hopefully earn! My question is about Affiliate Marketing, and I am wondering how in depth you will be going into this topic. I have spent money on a number of books, and I have spent some time learning a bit about AdWords, but feel I need much more in depth information and understanding, because I haven’t made a penny.

      Thanks,
      Erika

      Reply
    28. Gary

      A little tip for everyone: Put Erics tips into your favorite folder and check his website every morning! Email notifications of new lessons can easily take over 24hrs once they are sent through an autoresponder and this way you might be able to catch newly created lessons a little quicker!

      😉

      We Give You 120 Individual Turnkey Websites With Your Paypal ID On Each
      http://www.Instant-Paysites.com

      Reply
    29. Nik Nasruddin

      Thanks Eric for your valuable info on how to make money online. I think I would like to add something about starting an online business. For me there are 3 kinds of methods in building an easy online business. You can ask Eric about this, he’s expert on every online business, isn’t that right Eric?
      1. Affiliate marketing. Try : http://www.affilantis.com.
      2.Drop shipping – selling other people’s products.
      3. Buying reprint and resell rights.

      And if you are interested in starting your own arts and crafts business online, you can try http://www.easyartscraftstips.com.

      Reply
    30. Gary

      I agree with you in the sense that affiliate marketing can turn into a good monthly income…but the financial opportunities are much greater if you can create your own unique product,one that everyone else doesn’t have.That way you also don’t have to rely on others for monthly payments and you can keep all the profits for yourself without spliting them. Best of luck to you!

      😉

      Reply
    31. Gary

      Thanks for the Info…I find SEO hard as well and took a look at the link you provided.To me it’s been one of the hardest things to accomplish.

      😉

      Reply
    32. Gary

      Hi Kevin..
      Wow…all the way from Ireland. I’ve been reading post here on Erics tips from people all over the world…how exciting. Just read one from a nice young lady in India. Best of luck to you!

      😉

      Reply
    33. Gary

      Wow Eric…I never saw that article before. You sure have your priorities straight….not to mention a lot of integrity!

      😉

      Reply
    34. Gary

      Hi There,
      I completely agree…Isn’t it nice to be talked to rather than talked at with niothing more than just a sales pitch?

      😉

      Reply
    35. Gary

      Hi Gus,
      Its so nice to see people in retirement wanting to learn internet marketing…I think it’s wonderful! I say that because most the people I know in that age group(including my mom and day)think they could never learn it and that it’s to hard.Good for you…just hang in there and best of luck!

      😉

      Reply
    36. Gary

      Hi Warren,
      I feel your excitement as well. It’s nice opening up a fresh new lesson knowing that we are learning from one of the best.Good luck to you!

      😉

      Reply
    37. Gary

      Hi There,
      Hopefully you can stick around. Eric mentioned you need only about $200 total to get buy with completing this workshop. As far as the know how…Eric will take care of that also with these great easy to follow lessons. Best of luck to you!

      🙂

      Reply
    38. wisdone

      Eric, thanks for the great lessons. I am intrested to be a domainer (selling of web sites). I am already into real estate buisness, so am more intreseted to enter into internet real estate.
      Please suggest me how can I get info about it.

      Reply
    39. Melina Crisostomo

      Hey Eric,
      As well as my own products and website. I’m also interested in doing some affiliate sites. I’ve recently been introduced to SmartMoney Websites affiliated with Alex Mandossian, who I greatly admire and am a member of his teleseminar secrets.
      My question is …Is anyone familiar with SmartMoneyWebsites and what do they think about it. Could I be doing something else… more or as effective with the same functionality for less, when it comes to affiliate sites or even my own product sites? It sounds really amazing, but I’d like some input before I jump in.

      Aloha and Mahalo,
      Melina
      http://www.SeminarSwagBag.com

      Reply
    40. Brett

      Today for the first time I was able to differentiate between “Information Marketing” and “Affiliate Marketing”.

      Thankyou Eric

      Brett

      Reply

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