I've made a decision to stop pursuing the quest to create a successful online business. Maybe I'll come back to it later, but at this time, I am going to focus on ONE thing and one thing only to generate income (other than my full-time job).
No longer will I be frustrated by my slow progress, or my lack of sales. From here on out, at least for the rest of the year, I will focus on investing my extra money in stock index funds!
I have invested a couple thousand dollars in the past month, and it has generated some profit—much more than the few cents I get from Google AdSense or the $.33 from Amazon KDP select. So I will make money passively by investing in stock index funds.
I realized that there is more to online business than just a good idea and the basics of setting up shop. Marketing and selling is one of the most CRITICAL skills to have that online business gurus rarely mention. If you don't have such skills yet, then you better invest time and money to learn them now. It's going to be awhile to generate income in your new online shop.
Online business personalities make it sound so easy to start a business. As long as you are hard working, dedicated, and persistent, you can make it in the online business world. No—absolutely not true. More than hard work, dedication, and persistence, you need a strategy. In particular, a marketing strategy. In fact, to generate income, it's all about marketing strategies!
One successful businessmen I know who spoke about marketing in length is Steve Scott. A successful self-publisher who makes over $30k per month, Steve emphasizes the importance of building an email list, subscribers who you can then reliably market your products to. It's the one thing, he said, that drives traffic and sales to his kindle eBooks.
Since I'm starting a new job and don't yet have the marketing skills needed to be successful in driving traffic to my online shop, I am—for now—investing my money in stock index funds.
Hi. I'm Kent and this is my blog. Let me know what you think.