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First off, some points about money. People pay money, a valuable, in exchange for a product or service you provide – another valuable. It’s really barter, with a commodity called money. People buy things which will improve their lives, which gives them some benefit they feel they need. You aren’t really in it for the money, but to provide better service to people so that they can improve their lives. That’s a perfect fit – they want to spend money to improve their lives and you are more than happy to accept money to enable them to do so – with your product and services.
Money is really just an indicator of how much you provide real service to others – and how valuable they think that service is. We’ve gone over how you can increase your income by giving it away, as well.
Now, down to the brass tacks of what to do when and why.
Before we start –
Don’t quit your day job. Rome wasn’t built in a day, God took seven to create this world – so don’t figure you are going to become a millionaire overnight. I’ve heard some talented people got rich in 90 days, but we’ll take the conservative approach here.
Until your Internet activities start bringing income to you, that day job will be providing the seed money for your online business.
Consider all your online activites a second job. This is much better than going to get a second job at some company. Then you are spending 60 hours a week just working for a fixed wage – away from your family and giving a large proportion of it to the government and insurance companies with very little return.
So your online business is your second job. Set it up with a specific workplace and a schedule. Treat it like a business, not a hobby. Show up on time and ready to work – not late and hung over or taking constant breaks for food – or having the TV running so you can “catch the game”. Arrange for your spouse and kids to keep the noise down – or set up your garage so it is comfortable all year round and you can easily work there with no distractions. (Remember, setting this up as an actual business means you can deduct these expenses from your “day job” income tax.)
Work out your finances. See if you can get by on only 80% of what you currently earn in income from your day job. Means you are going to have to set up a budget and find out what you are spending your money on. Or – you could simply have your check deposited directly, 80% going into your checking account and 20% going into your savings account (preferably) or another account.
What you do with that 20% is to set half away for savings – never touch this for anything except, perhaps, a real emergency. The other half (10% of your income after taxes) goes to investment. This is what you are allowed to spend on your online business. But the idea again is that you are investing in your own business – not just blowing it on nice stuff for your home office.
Once you have your home business set up, you are then – an only then – ready to really start in on Internet Marketing, Sales, and Delivery.