HOW TO BECOME AN INTERNET MILLIONAIRE

How to become an internet millionaire * successful entrepreneurs business secrets * the golden rules to getting rich and becoming an internet millionaire

It is not a sign of weakness or stupidity to admit you don't know what you are doing - it is a sign of strength and intelligence. Paul would be the first person to admit he could not build a website if his life depended on it and David's eyes glaze over when the subject of search engine optimisation is mentioned. Neither of us has all the answers, but we are surrounded by experts in their fields of experience and that is why we are successful.

Taking on business partners doesn't necessarily mean you are giving anything away. It normally means you are gaining much more than you could possibly have envisaged. 100% of a failed business means you get nothing but heartache, debts and zero income. If you own a percentage of a successful business, you can still be a millionaire and it means you have partners who are all pulling in the same direction, sharing the workload and the worries and costs.

HOW TO BECOME AN INTERNET MILLIONAIRE

If you went into a bookie's and placed 10 dollars on a horse, the bookie would happily take that bet. If on the other hand you placed a million dollars on a horse at 10 to 1, the bookie would lay that bet off with other bookmakers to cover his arse in case you won. That is good business sense and how entrepreneurs become internet millionaires. It might be nice to take all your million if you lost, but commonsense tells him he cannot afford to take that risk because you might know something he doesn't. Spreading the load and delegating the work you don't understand is the key.

The internet is like that. In fact, any business is like that. If you have a business idea you can build yourself a website on Utopele and risk a couple of hundred pounds. On the other hand, if you need to invest hundreds of thousands in an internet project, unless your name is Rothschild or Gates, you should look to lay off your exposure and take on business partners who know what they are doing.

Start your own business

New business ideas

In the chapter on website design, David explains why so many websites fail to make money. This is also covered in detail by Paul in the chapter on search engine optimisation. Anyone can go off and get a website built for a few thousand pounds, but the reality is that a website is just a small part of an internet business and the running and marketing costs can rack up very quickly.

SUCCESS ON THE INTERNET

It doesn't matter what your business idea involves, success on the internet requires high levels of traffic and, in order to get high volume quality visitors, you have got to be prepared to invest and spend heavily. The one alternative is to build marketing pages on Utopele to get your business going.

This should apply to any business, whether you are starting out large or small; whether you are starting an internet business with your own idea or simply setting up a website to earn money through BANS sites or affiliate schemes, the business principals are the same. You have to have a business plan in place, know your market, know what your targets are, know what your overheads are likely to be based on hitting those targets and manage your business by the cash flow.

Build web pages here and drive traffic to your website

Advertise on this search engine and get more visitors to your website

SUCCESSFUL ENTREPRENEURS BUSINESS SECRETS

If you are starting out on the internet, whether you are using another company's affiliate scheme or a business idea of your own, you should tread carefully. One of the most important business secret of any successful entrepreneur is they only take calculated risks. They do their research. Obviously, if you are a large company or already a multi-millionaire, you can afford to pay for research which is far cheaper than jumping in blindly and losing your shirt. If on the other hand you do not have money to toss around, you should either use Utopele to test the water or seek backing of some kind.

If you approach us with a business idea, we will want to see that you have done your homework. This means you will need to have put a basic business plan together, sourced suppliers where appropriate and done some research. Just having a business idea is not the basis for a business and many people launch themselves on the internet with little preparation or approach us with nothing more than a concept. Lack of preparation is always a sign of being unprofessional and never gets anyone off to a good start. You wouldn't approach your bank for a business loan without preparing cash flow figures, overhead projections and profit and loss accounts, so why approach a venture capitalist without a well constructed business plan?

GOLDEN RULES TO GETTING RICH

Throughout The Golden Web we supply readers with little nuggets of advice and business ideas designed to get you started on your road to making money. These are the golden rules to getting rich. In the final analysis, success on the internet is going to be down to you. All the phony get rich schemes you read about that say you can sit back and let the money roll in are scams. You will never make any money unless you understand that you have got to work hard and continuously develop your online business. The day you stop working at it, is the day it starts to fail. If you are not convinced by this argument, ask yourself one question. If it was that simple to make money, why aren't the multi-millionaires of this world chucking in their businesses and simply joining these get rich schemes and going and sitting on a beach somewhere?

The simple answer is - they aren't that stupid - are you?

BECOMING AN INTERNET MILLIONAIRE

Whatever internet business you decide to set up first, whether it is your own idea or using the many legitimate money making schemes we recommend, your website is going to need customers; and to win customers, your website is going to need high volumes of quality traffic. You will never become an internet millionaire without high levels of visitors to your website. This is where most internet businesses fall at the first hurdle. It never ceases to amaze us that the majority of internet entrepreneurs set up their online businesses without any forethought about how they are going to get visitors to their site. If we say it once, we will probably mention it a hundred times throughout the book: just owning a website does not mean that people will find it.

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You are reading an extract from

The Golden Web - The Internet Entrepreneur's Definitive Guide to Making Money Online

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How to become an internet millionaire * successful entrepreneurs business secrets * the golden rules to getting rich and becoming an internet millionaire