Prospects of Running Your Own Business

Very few people ever got rich by working for someone else. puttiing aside popular musicians, sports stars and gifted people, the only way to acquire wealth through working for it is to build a business of your own. Be an entrepreneur! The type of business you decide upon will mostly depend on three factors:

  • How much money you have available as start-up capital and working capital;
  • Your business idea; and
  • Your confidence level.

There are three basic types of businesses you have at your disposal:

  1. The Traditional – a brick and mortar in which you will rely solely on your own efforts;
  2. The Franchise – where you follow a proven idea and receive considerable training and back-up from the franchise company; and
  3. Web Marketing – which encompasses Network Marketing, Multi-level Marketing and a whole slew of different niches you can explore.

Each business type has its pros and cons.

The traditional business requires considerable financial input, either from your own resources or part-funded by your bank. You may need to rent premises; buy equipment; hire staff; pay for advertising, brochures, stationery, and stock. A frighteningly high percentage of this type of business fails in the first year. To succeed you need: a good idea, considerable financial backing, good health, an understanding spouse, and stamina. If you do succeed you will own the business outright and benefit from all the profits.

Franchises have a high success rate. Banks like them because each franchise operation has a proven track record; thus the banks can accurately judge the risk and consequently will lend money for this kind of start-up. However, all the support and training comes at a price: the initial entrance fee is likely to be very high, and a percentage of the business’s turnover has to be paid to the franchise company.

Web marketing which encompasses Network Marketing, Multi-level Marketing, to name a few, has many advantages and few disadvantages. The entrance fee is low and the ongoing expenses are even lower. A Web marketing business can be started in your spare time. In fact, that is the best way to approach it. Start small, and keep at it. The secret is perseverance! Get past the first year and you should find this type of business has a sound foundation from which you can build a serious income. It is said that 95% of those who survive ten years in Web marketing become wealthy beyond their wildest expectations.

So which type of business is for you? If you wish to provide a service or product where you have previous experience from a former employment, the traditional business will be probably be the best choice. However, if you are just tired of working for someone else and making them rich and wish to venture out on your own, then a franchise or Web marketing business just might be the preferred option.

The choice then is determined chiefly by the funds you have access to, and the time and effort you wish to put into your enterprise. A franchise will require substantial funds and 100% commitment. You are jumping in at the deep end, although the franchise company will provide training and support to help keep you afloat.

On the other hand you can ease yourself gently into Web marketing by starting part-time while you continue with your current employment; building your business by ploughing profits back into it if necessary. Persevere and there will come a time when the income from your own business will be sufficient to support you financially. You will then be able to leave your employment and concentrate on your business, which in turn will pay dividends. One such dividend (an important one) is enjoying considerable free time with your family.

Why Free Makes The Entrepreneurial Experience Easier

Do you believe in the principle that you’ve got to give before you get? If so, you probably already know the answer to this question: What is the most frequently used word that people type in a search box on the internet? If you don’t already know the answer, I can assure you that learning what this simple word is and using it to it’s fullest extent can literally explode your sales if you’re an entrepreneur running a Web business. Let me explain.

The all important word is FREE!!!

The word that is used in searches on the Web more than any other is FREE. Everyone loves something for nothing. No one wants to pay for something if they can get it for free. You don’t – and I certainly don’t – if the item is of a quality comparable to paid-for items.

Think about all the times you searched for something on the Web. Weather it was for information, a service, a product, anything. Did you just type in the description, a keyword or phrase, or did you put ‘free’ first? Even if you obmitted the word free, when the search engines generated the results, I can almost guarantee that it gave you a list of ‘related searches’ containing the keywords you used with ‘free’ in front of them.

The benefits entrepreneurs derive from giving something for free.

As a Web business entrepreneur, if you offer a product, service or some other information for free, it can have great returns. First of all it boosts your search engine rankings. As the word is typed into a search box more than any other, so having it optimized on your website will pay amazing dividends.

Once a customer has found you in their search results, further use of the word free will draw them in even more. Giving them something for nothing if they visit your site is a big attraction. In fact it is such a huge attraction that I can’t emphisize how important it is, especially if you’re just starting out as a new entrepreneur.

How giving something for free can make you money.

When someone visits your site to claim their freebie, several things can happen. In order to get their free product, they have to give you their name and email address. This is standard operating procedure in the Web marketing business arena. In fact, it’s the #1 reason for offering the free item(s) to them in the first place.

It is highly unlikely that someone will buy something on their first visit to your website, or any other site; and unless there is an excellent reason for them to return, they may never visit again. By having their email address, you can contact them and remind them to revisit your site. You can offer them ‘special offers’ and affiliate sales through your correspondence emails.

It is a well known fact that you have to make an average of 7 contacts (sales pitches, remind revisits, offers ect…) with a potential customer before they will actually buy something and become a real customer. The reasons for this are quite lengthy and will take a complete article to discuss, so lets stick to the matter at hand.

One of the most important/valuable things you can own as a Web marketing entrepreneur is a LIST of contacts/potential customers that you can send your product promotions to on a regular basis. Being able to have that all-important contact with your customers, improves your chances of them making a purchase significantly.

They learn to ‘trust you’, you become familiar to them and that is what often clinches the deal. You gain the know, like and trust from your customers and then they feel comfortable enough to buy what you recommend.

So, that’s a brief explanation of how you, the budding entrepreneur, make money from giving away something for free.

The quality of free.

The item that you offer, weather it be a subscription to an ezine, an ebook, report or software, MUST be of good quality. If the prospect receives their freebie and the quality is poor, they will not come back to your website and buy anything. Even if you are the best website in your niche, offering the best deals, they will never find out, because they just won’t come back.

On the other hand, if they are impressed by the free gift from you, they are more than likely to visit your website again and again. High quality, useful products are an essential if you want the ‘freeie offer’ to work for you.

How you can drive traffic to your website using ‘free’.

Classified ads are a fantastic way to drive traffic to your website. The headline and description should be centered around the infamous “what’s in it for me”. That is offering them a freebie. This will entice them to click the link and visit your website. You can post classifieds for free. Just type ‘free classifieds’ into the search box and choose from the 1000’s of results that the search engines produce. Submit your ads often and the traffic will keep coming.

Other ways to drive traffic using ‘free’.

Simply use it anywhere your ads appear. If you publish articles, reports or ebooks, put your offer in your resource box. If you use pay-per-click, use the offer as your ad copy. Advertising in ezines, weather its your own, an affiliate’s or bought advertising, again use the free offer in your resource box.

Choose carefully.

When deciding on what it is that you will give way, there is one piece of advice that is vital. Make the free item appropriate to your audience. Whatever niche you operate it, stick with the theme. If you offer an ebook on ‘how to create a website’ and your business sells musical instruments, you’re really asking for problems.

The customer will visit your website to get their ebook. They will download it and probably be very pleased if it contains high quality information on ‘how to create a website’. When you contact them via email with for example a ‘special offer on violin strings’, unless by some highly unlikely coincidence that they play the violin, they will not visit your website again. So be mindful of what your own niche actually wants and give it to them.

In conclusion, the more you offer free stuff of high quality, the more money you will make and the more successful you will become in your Web entrepreneurial business experience. It is one of the best traffic drivers and is a straight forward concept. Now that you have this little golden nugget of valuable information, get to work. Plan what you could offer, to whom, when and where.

Decide on a product that you can legally give away (be careful of copyright infringement). Make it something that is useful to your own niche market. Advertise it everywhere you can and your opt-in-list will grow very quickly. After all ‘the money is in the list’, right? That’s also a topic for another article. Below is a perfect example of the ‘free’ offer. I didn’t make it up, it’s for real and it works.

FREE 12-Book Bonus Pack Delivered at Sign-Up