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

By | June 20, 2008
342 Comments

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!

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

    1. Finbarr Ahern

      Finbar says,

      Prior to lesson 6 & 7 the one thing that was important

      it was not necessary to buy stuff yet you promoted a product of yours for members to purchase if they wanted.Is this not going against what you already stated.Also this product would it not have a copyright problem with other peoples work and re-publishing them
      with either my name or whoever on that work.

      Reply ↓
    3. Chris

      Eric,

      Thank you for sharing this great info. I currently work full time and have another part time business and looking to get out of the full time job to spend more time with the family. I’m excited to see where the lessons lead so I can get up and running. One thing I wanted to ask from your experience and with an unstable economy, if the business takes off and leave my job and I stay true to what is taught, does the income stay pretty consistent each year. What has been your experience, does it ever run dry or stay steady. Thanks again.

      Reply ↓
    7. Micah

      Hello Chris,

      There are some strategies where income is significant for a while, but will run dry when they are no longer effective. Other strategies are not dependent on current trends, but tried and true marketing. While initial income may not be as significant, it tends to remain steady in those cases.

      We’ve found that overall, the internet has grown as a potential income stream by leaps and bounds.

      Reply ↓
    8. Micah

      Hello Finbar,

      You should never purchase anything if is just going to sit on your computer collecting virtual dust.

      However, at some point, you will need tools to help grow your business.

      We only recommend that you make purchases when you plan to actually use a tool for your business right away!

      Typically your purchase includes a license file, granting you rights to publish or use the product in a particular way.

      Reply ↓
    9. David J Beggio

      I think I have finally found my opportunity. The wireless segment. It is not going away. In fact I don’t know many people who don’t use wireless service. I just want to know the best methods to promote my biz. Thanks Eric, I enjoy learning your strategies, David Beggio

      Reply ↓
    10. Jim

      Can you please tell me what video player you are using? It says I’m missing the plugin and the videos are not playing. Thanks.

      Reply ↓
    11. Debbie

      Hi Eric.. I had a couple questions about the coaching and sent an e-mail a couple of days ago . I am not sure if I sent it to the correct place since I have not heard back yet.. Is there an easier place to send a message or be able to get ahold of someone?? Thank you……. P.S. I really enjoy the Eric Tips…. Thank you again.. Debbie

      Reply ↓
    12. Marija

      Hi Eric,
      You are on the right way what I really need. I have set up WP site and put on it different affiliate links. The site seems to me a little in a mess.Do I need for every affiliate link it’s own page and a content about? How can I achieve o good appearance of this on WP or Blog?
      Than you very much for your education. All the best for your family. Marija Hafner

      Reply ↓
    16. Micah

      Hello Marija,

      When promoting affiliate links, it’s best if you have a full review or related article on the page where you are promoting.

      People don’t often click links on pages with lots of links and little content. However, if they feel that you have already provided them with valuable information, they might take you up on any invitation to see more, if you direct them to just one or two affiliate offers!

      Reply ↓
    17. Louise

      Eric the lessons are very informative and much needed. I will be attending a “Startup weekend” A business plan is important to present. How can I do a plan from the coaching you give and to develop online business.
      If you have any suggestions I would appreciate it.
      Thanks.

      Reply ↓
    18. Micah

      Hello Louise,

      If you’re looking for some hands on advice for your online business plan, Eric’s coaching club could be very beneficial for you:
      http://www.realguysrealmoney.com

      Eric, Paul, and Jeff are expert marketers. They will be a great resource for you!

      Reply ↓
    21. Mark Lewis

      Hey, Eric, I have never thought about starting on info. tech. business. However, reading your tips for past couple of days, is making me look forward to getting started.

      Mark

      Reply ↓
    22. Valma

      Greetings Eric and thank you for your lessons.
      Im a “newbie” and the more I read the more Internet Marketing seems to get harder e.g. I’m now reading that if we don’t get into mobile marketing now we will be completely left behind. What are your thoughts on the p.c. becoming obsolete? I have been studying it all for 3 years and feel I have reached the stage where, with a bit of refining, in particular SEO optimization I could put up a website before too long (I have WordPress Mage which is an automated system). I am also interested in getting into the “local” market. I congratulate you on your informative lessons. I have just received Lesson #7.
      Like a lot of people I have spent quite a bit on “systems” but have been delayed by various things, including financial restrictions.
      Thank you for your opinion.

      Reply ↓
    23. Micah

      Hello Valma,

      Most computing is already mobile, as you can connect your laptop, ipad, phones, etc., at free WiFi locations almost anywhere.

      The only “Major” differences with mobile is the screen size and video playback compatibility. However, many devices are catching up, and even automatically adjust screen size for you.

      Computing won’t become obsolete, regardless of the shape and size of the devices people spend more time on.

      If anything, there will continue to be more opportunity for marketers to get their businesses online, and in front of more potential customers.

      Reply ↓
    29. Jaques

      I am really getting excited to start as I have already created an information product that is on Amazon and elsewhere and would like to learn more…

      Reply ↓
    30. Elizabeth Maifeld

      Thanks for the suggestion for rest….I am too excited to move on. This program is worth its weight in Gold. Liz

      Reply ↓
    31. Harvene

      I’m 70 and have been trying for 4 years and always blamed myself–but I see there was a LOT of important information missing from all I studied. Stay sharp–we can do this. It’s can’t be that hard and Eric is really a pro!

      Reply ↓
    33. Serena

      Well, I was hoping you would be teaching such a business. I have already created an info product but not in the IM niche and haven’t had much luck in promoting it…Looking forward to learning more from you!

      Reply ↓
    34. Abdulla Afeef

      Thank you Mr. Eric for your lessons about the online businesses.
      I have read the lessons from 1 to 7. Indeed I I found those all are valuable and also helpful for any one who wants to have an online business.
      As a one don’t have much experience on the online business I have chosen the affiliate marketing proses from the choices you have offered.
      Thanks and best regards.

      Reply ↓
    35. Abhaskar

      Thanks Eric’s,

      I am really excited to start a info business and I want to learn all the lessions at a time. Can you tell me how I can access all these lesson at a time?

      Reply ↓
    37. Lilian Visser

      Hi Eric
      I will definitely follow your instructions! It is simple,clear and I actually understand what you talking about !! You said no more buying products, I agree with you, just one question, is Webfire worth it to get traffic or not ? I do like the program, then again, I liked other programs too,which was a disaster !! Please advise or anyone out there that know what he is talking about!!
      Thanks
      Lilian

      Reply ↓
    38. Joseph Juhant

      Hey Eric,I have a couple sites up and running.But since i’m new I really don’t know about list building I have been listening to the video’s which are a great help..I am glad Peter Wolfing turned me on to your web coaching..Looking forward to talking to you

      Reply ↓
    39. Jo

      Hi Eric,

      Information Product? Right on! Strangely, you’ve just answered my query. Frankly, info product — creating ebooks/books would be my major focus. I’m so excited to move on and see results.

      More blessings to you because you share genuinely. Thanks.

      Reply ↓
    40. Penny

      I wasn’t sure what to think of your products and teachings. I see that my skepticism is not needed.

      Thanks for giving real, focused information about specific aspects of online marketing.

      Peace to you and yours,
      Penny

      Reply ↓
    41. Micah

      Hello Lillian,

      Will you please post a link to that item? I’m not sure that I’ve seen that one before.

      Reply ↓
    42. Don

      Hi Eric,
      I really appreciate your info on your lessons and will continue learning. I do have an interest in affiliate marketing and I also sell on Ebay. I have a golf school website that I need to get targeted traffic to find also. My main market is in the state I have the school, I believe. I can not afford to spend much money on traffic and have started trying Facebook to get traffic to my site. Do your have a suggestion on what I can do with my limited budget?

      Regards,
      Don

      Reply ↓
    44. Michael Oliver

      Thanks for your substansive encouragement on a continual basis!
      YES, the Info “overload” can be overwhelming at times, and paralyzing IF one is not;
      seeing “it” all in the big (picture) perspective. In many ways, I am so fortunate due to “Time”;
      being a factor that I “reasonably” command; i.e. NOT having a 9 to 5 reduces the exhaustive;
      potential of burnout, V/S the/my attempt to use this/my (God-given) “Time” to stay focused and;
      attempt (within my/your/our) own limitations to continually organize and re-organize this “Information”. My own “secret” was developed (fit’s me!) back in 2008, when i re-entered my;
      “formal education” period (2008-2010) at an age (62) when many are heading for their (proverbial) rocking-chairs. I found, upon re-entering the college classroom that many were headed for failure, because they did not bring the serious attitude necessary form day one to;
      do these simple steps (and i’ve “preached” these to my 17 year old Daughter since 2008!);
      1. Sit Up Front; i.e. Focus everything else OUT of your environment (NO TV/Radio/Smart Phone/Diversions)
      2. Have a good (for you) notebook and writing instrument/s and take solid notes.
      3. Review these notes after the lecture (seminar/exposure to Info) for completeness, when fresh in memory.
      3. Think about the concept/s as they (and You) become more complex, thus being able to more effectively evaluate concepts that are confusing.
      4. Seek effective organizational “tools”; many which are FREE (see HippoFile et al) to keep this Info at your disposal, in an useful order.
      5. Use the Brain that God created and which will, by it’s very nature, seek order.
      Best To You
      Michael Oliver

      Reply ↓
    46. Sue

      Hello Eric,

      I’ve been lead to believe that affiliate marketing is good but also has its drawbacks. That once the market is saturated with a given product; it loses it’s momentum. On the other hand, product creation can be quite advantageous in many ways.

      Thank you.

      P.S. The baby picture is cute at the end of the video.

      Have a great weekend.

      Reply ↓
    49. Johann

      Good day, Eric!

      I worked with my hands my whole life and is not very knowlegable about creating my own product. I believe that if you want to be successful with it, you need to have a vast amount of knowledge that you can pass on to the potential subscribers to your site.

      As most of the younger generation know about digital products and is up to date with what is relevant these days, I will have to do quite a bit of research in what is trending now.
      I think for starters, I will have to go the affiliate route, but is also interested in creating my own product. If you could do it, so can I!!!
      Tkank you for all the relevant info! It helps a lot in clearing the mind of unwanted information and helps with the concentration of the task at hand!

      Greetings to you and your family! Blessings!!!

      Johann.

      Have a day full of WONDERS!!!

      Reply ↓
    50. Christine Rauch

      Hi Eric,

      Thank you very much for this wonderful cource. That´s the best ever I found on the internet.
      I await daily the next lesson.

      Godd blees you.

      Reply ↓

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