Making money over the internet: A 5 step formula
Getting rich is the dream of many. And internet is a goodmedium to get rich fast. But one have to do a great deal of homework and consistent effort to get rich. In this short exposure I will outline the five step procedure to make money using internet.
Internet is a vibrant medium. It is also highly dynamic andevolving. What is selling today may be considered garbagetomorrow. So anybody planning to do an internet businessshould have a basic knowledge about internet, its evolving trends and the possibilities.
If you think that you have ingenuity, originality andenough time, you can workout your own business idea.Or if you are ready to research a little you can get enough articles discussing original business ideas. If you are abutterfly on the internet, you can adapt the idea from asuccessful business site (of course without infringing the intellectual property rights) and make your own variations of it. If you are still lazier you can approach a consultant for the purpose. The important thing is that you must have an idea.
Once you have the complete idea of a web business youmust start implementing it. If your site permits you can go for an incremental implementation, starting with a minimum set of features and adding new featuresgradually. This will help you to start earning from an early stage. The advertisement can go side by side. In many phases you may have to get external help or advice.
As I have said earlier trends in internet are changing at a rapid phase and if you do not make changes in theinterface and working style of your site will not be liked by people. So you must constantly watch competing or similar sites and evolve your site over time. The feedbackfrom the users is a good indicator in this regard. Also you must be willing to diversify ,expand and even divert your business according to market forces and user needs.
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