Niche Profit Mentor

When I was first getting started on the internet (and actually one of the things that spurred me on to start doing internet business full time), I read the book called Multiple Streams of Internet Income by Robert Allen.

Robert Allen was well known for his expertise in the area of getting wealthy from Real Estate, and his more famous book “Multiple Streams of Income”.

In his internet book, he describes how he made $20,000 in one day on the internet, starting a business from scratch. Going into it, he didn’t know much of anything about internet business. He taught himself, came up with a product, and launched it in 1 years’ time. The day he launched was when he made the $20k.

Given, he was able to take the time to master everything online, as he didn’t have to worry about paying bills as he built up his business. But even with this, I saw what he did and thought “If he can do 20k in one day, surely I can figure out a away to make a few thousand a month and create more freedom in my life!”

You may not be able to take a year off to build a business. But what if you KNEW that if you spent 2 hours a day for 6 months that at the end of that 6 months you would be able to earn $10,000 all at once, and get automated monthly payments after that of over $1000? Would that be worth your time? Seeing what Robert Allen put together in 1 year to me was enough to kick me in the ass and get over all my excuses!

Now, several years later, I am at the point where I am creating MULTIPLE streams of income online. And I have to say, it is fun and rewarding! I have one business where I’m the expert and dominate my niche, another where I am extremely passionate about and am carving out a niche in, and a third business where I am just starting out, but loving the stuff I’m selling.

As Allen’s two books point out, it is important to not put all your eggs in one basket. You never know what kind of changes are in store online or in your industry that could affect your income stream. But the main thing remains- the time to get started online is now, even if it takes you weeks, months, or a year to earn your first dollar (or 20,000 dollars!).

Get started with Get Niche Profits today and have something up and running in 30 days!

“If you want to make the big bucks online, you have to create your own products.”

This is a true statement in a sense. But it must be analyzed!

Affiliate marketing is a great option for those who would like to start making money online, but the thought of creating everything from scratch is entirely too daunting.

Let’s look at some of the ways in which the above quote is very true, and other ways in which it’s very misleading and possibly demotivating.

If you have your own product or products, your income isn’t limited by anything external, such as, the product’s owner changing things around, or Google changing the rules on you. So, to go really big online, you do indeed need your own product.

But this leads to the question, “What is really big?”

I know one guy that makes $15,000 a month selling other people’s products with Google adwords.
That’s a pretty comfortable living for most people.

But as an affiliate, your work is cut out for you. You are only making a percentage of what the product sells for. At best, you will likely make around 50% of the profit of whatever the item is. So you need to do a lot of volume!

On the flip side, getting started making money online is SO much easier as an affiliate. There is very little creation involved! Just a blog is practically all you need.

And, there is little risk involved. All you are investing is your time. If the product or service is something you really believe in, it can start out as a fun hobby. This is how I started this blog- it’s fun for me to write about this stuff, and I’m happy to spend a little time blogging even if it’s not paying me directly.

This all comes down to a trade-off. If you want to immediately start making money online, the closest way to do that is to become an affiliate for a product or service.

If you want complete control over your work, and no external limitations on your income, and you don’t mind putting in a ton of work upfront, creating your own thing is the way to go.
If you want ease-of-entry into the market, less work up front, and the lack of security that you do not have control over everything, then affiliate marketing can be a great start into the internet world.

Please comment on this post! I want to hear what you have to say!

There are so many things to know in the world of creating and running online businesses. Keywords, blogs, podcasts, articles, pay per click, opt-in boxes, squeeze pages- the list goes on and on.

Starting out can be completely overwhelming- especially if you purchased one of those courses that promised that everything would be EASY, and showed you countless examples of people who knew nothing about marketing or technology going in but are now earning $50,000 a month spending 2 hours a day on their business!

I was one who bought one of those courses. I fully expected things to be simple and for me to be earning at least a living within 30 days. Well, it did not happen- but the course was a high quality one, and a good part of that is that it was very organized- a step by step plan that I just did a little each day on (however much time I could afford that day). I did manage to make my first sale within about 60 days of starting the course and probably 6-8 months later was sailing along with my online business, able to scratch out a living online (which was a thrill for me after many years in corporate cubicle life!).

So the thing you need to do before anything else is…get organized! Buying and following a course is sometimes a good way to do this, if you stay focused and don’t let yourself get distracted by “shiny little objects”, or other paths that may or may not lead you to accomplishing your goals.

Finally, you need to have a system that works for you to “get things done”. There are many options out there as to systems and books you can buy on this topic. However, they all contain these elements that should be your priority before even thinking about task #1 on your business:

1. A system to file physical paperwork
2. A task management system, organized in categories, days of the week, and times of the day
3. A way to manage email, so that you don’t feel like you have to check it 32 times a day

I can get into specific recommendations for all of the above later, but the main thing here is to pick or develop a system that works for you, and stick with that system every day. After doing this for a month or so it will become a habit, and things will fall into place naturally, and you will know exactly what to do each day instead of using the “will power” approach of haphazardly jumping from one random task to the next on your list.

I just got back from a 9-day trip to Costa Rica, where I was on a tour with 14 other people, checking out the jungles & beaches, and doing a major amount of activity. I opted not to bring my laptop, despite the many things I have going on with both of my websites.

Since there were numerous internet cafes along the trip (3rd world countries tend to have tons of internet cafes since few people can afford their own computers), I never had any problem accessing my email. However, I was so busy and having so much fun, that I rarely had the desire to connect to my work! And, in the 9 days I was gone, there were a total of 0 work disasters, and 0 problems that had to be dealt with. I managed this by:

1. Changing my voicemail greeting to indicate that I would NOT be checking voicemail until I got back.

2. Setting up an email autoresponder indicating that I would only check email on occasion, and to contact my support person for any emergencies or tech support.

I wasn’t at all worried about anything going wrong. If it did, I already had the support team in place to handle it, and whatever else happened could wait! This was the first trip I have taken in a while and I realized when I got back how important it is to get away on occasion- both to experience completely different surroundings, and to put all the systems I have in place to the test. I would say both were definitely achieved in the last week.

So many people I talk to that want to start their own business online are overwhelmed at the idea of starting something.
Even when I meet people who are just starting out in internet business, they seem discouraged and constantly make the mistake of comparing themselves to others who have been at it for much longer- and have established businesses and income.

If you are new to doing business online, your first goal should be simple- make 1 sale!

The difference between having sold nothing, and having made 1 sale is HUGE. I’m mostly talking about the feeling and the momentum you will get from making that first sale. This will give you a big lift in motivation to go out and do more!

How it worked with me is, I created this little product (a pdf file with some workouts), and uploaded it to my site for sale. I had no idea how long it would take to make my first sale, but in the first week I sold 3 of these things! I then was motivated to bust my butt to see what else was possible. In my 3rd month I remember I made 19 sales and was completely blown away.

It’s VERY easy to get caught up in the comparison game- comparing yourself to others who make $thousands per month, and thinking how far “behind” you are. Nonsense! If you keep following the formula, sales keep getting better. Niche Profit Classroom has a great plan that allows you to get your first sale within 30 days- and that’s even if you have 0 knowledge about internet business already.

My favorite place to start for finding a niche online is sports.

Many of us played or participated in sports as kids and some continued on through high school and college.

What happens in many sports is that most people that want to continue on doing a career in their sport end up becoming coaches. And coaching takes up a lot of time, in fact, it is usually a full time job.

So this leaves the internet filled with niches in various sports, waiting for someone to come along and display expertise or compile information from various sources that can be useful for some group out there that may exist world wide.

If you are interested in started a niche market business online in sports, keep in mind the following:

1. You do not have to have any credentials to do something within a sports niche. Yes, it may help if you’ve actually participated in that sport (but even that is not necessary!), and excelling at it is certainly a bonus, but you can easily become an expert by reading a few books and interviewing a few recognized names in the sport. The vast majority of people making money online in sports niches were nobody’s in their sport when they started!

2. If you’ve played the sport, you likely have a technique or way of doing something that nobody has elaborated on. Be the person who comes up with the perfect strength workout for a baseball pitcher, or the lesson plan to succeed in croquet, or how to be the best polo player on the field! Come up with your own unique take or shortcut on how people in your sport can succeed and you’ve likely got a winner.

If all you do on your site is consolidate information into a simple ebook or video for sale, you have provided a service for someone or a group.

Don’t worry too much about being all-knowing when it comes to  your sport. If you know more than the average person, you are an expert. If you don’t, you can do the research, or even better, hire someone to do the research for you!

What led me to starting my niche business online was the idea of freedom.

After reading a few of the Rich Dad, Poor Dad series of books, I realized that I was chained to my job, and later my fitness business. When I learned about the idea of passive income, I was immediately sold!

I quickly realized that I would much rather make $50,000 a year in passive income than make $100,000 a year working for a company or being a self-employed fitness instructor.

It all comes down to time vs. money. If you work 8 hours a day in a $50k/year job, you’re making around $25/hour.
But if you make $25k/year and you work 4 hours a day, you are still making $25/hour, and you have 4 more hours in the day to do whatever you want with!

This is the idea that really struck a cord with me. Do I want to create more free time in my life, or just work like crazy and hope that I can somehow retire early and enjoy life for a while later?

Building a niche business online is not about getting rich quickly. It’s about lifestyle. You certainly can get rich with a niche profit business (or businesses), but the exciting thing about internet businesses is the time you can free up. When you’re making money on the internet, you can set things up so that you do not have to be there as funds come in to your account.

So what type of life do YOU want?

For anyone looking to venture out and do their own thing, the task of getting started is often overwhelming, to the point where most people will give up before they even start!

I’m not going to say internet marketing is not a lot of work. It is. But building a business online is not rocket science. Far from it!

The place to start is to first and foremost make sure you are working in your passion, or at the very least, something you are very interested in. Make a list of all of your interests & hobbies and go from there. You are probably an expert at something, and even if you’re not, it’s not that hard to become one.

Keep these things in mind before you go giving up:

1. Building a business online is just a series of steps- you do one thing at a time until you have something solid. You don’t have to learn web design, html, or even anything about marketing- you can outsource or easily learn everything you need.

2. Keep in mind the “Rich Dad, Poor Dad” philosopy. You are the business owner. You are not the administrative assistant, the programmer, or the designer. Your goal is not to build a job for yourself, your goal is passive income!

3. If I can do it, anyone can do it! I was never a computer whiz. I didn’t major in marketing. My first business (being self employed) was offline and did not involve internet marketing. I knew zero about html programming going in, and I’m lucky if I can draw a stick figure!

4. You won’t get rich quick. At first, your long term goal should be to make 1 sale! You can adjust goals once you accomplish this. Short term, you are just following instructions and getting from one step to the next.

So, once you have the mindset of “starting” properly situated in your head, you’re ready to roll!