Topic: Who Else Has A Question?

[Tim Russ]

People tell me I know a ton of stuff when it comes to making money online.  I make my living as a full time internet marketer.

Apparently I know so much stuff that I don't realize what people getting started want to know.  So, feel free to ask me questions about how to get started.

I'll be happy to explain the basics to you and walk you through some of the concepts.  All you have to do is ask a question and if I can't answer it I'll let you know and I'll go see if I can find the answer.

Merry Christma!

[Dee]

I don't know anything about making money online.  What should I do first?

[Tim Russ]

You've already done it.  The first thing you need to do is start seeking knowledge.

Vocabulary is important.  Things like ISP, SEO, DNS, MP3, PHP, PDF, etc.  Those kinds of cryptic abbreviations can drive you nuts when you first get started.  If you don't know what people are talking about, though, you won't be able to understand the knowledge you're given.  Here's a good site for learning all about these kinds of words: http://www.marketingpower.com/mg-dictionary.php

You'll need to understand concepts.

You'll need to know the different ways of making money online.

You'll need to know what tools to use.

We'll go slow.  Start by browsing the dictionary and ask whatever questions come to mind about the words.

[Dee]

Ok, I've looked at the dictionary.  There are a lot of words there.  I doubt I need to know all that but I can see where I should know some of it.  What's next?

[Tim Russ]

Ok, let's do a quick assessment.

1. How much do you know about internet marketing now?

2. What skills do you possess that you think could be marketed?

3. What software tools do you own that could be used to make money online?

4. What services do you have available to help you run an online business?

5. How much time do you have to work in your online business?

6. What's the budget you have set aside for running your new business?

You may not have answers for some of those questions.  Answer the best of your ability and we'll take it from there.

[Dee]

 

1. How much do you know about internet marketing now?

So little that you might as well say I don't know anything.

2. What skills do you possess that you think could be marketed?

I'm a pretty good writer.  I know how to use the computer.  I know how to use the internet.

3. What software tools do you own that could be used to make money online?

I don't know.

4. What services do you have available to help you run an online business?

None.

5. How much time do you have to work in your online business?

I could put in an hour a night.

6. What's the budget you have set aside for running your new business?

I don't have any budget set aside.  How much should I set aside?

[Dee]

Hi Tim,

Did you forget me?

Dee

[Tim Russ]

Hi Dee,

  No I didn't forget about you.  I've been sick lately.  Because of the illness I've gotten behind in my work so it may be a week or so before I can get back to you to continue.  If you don't hear from me within 7-10 days be sure to contact me.

Sorry for the delay.

Tim

[Ro]

I think the secret to Internet Marketing is to sell something of value that costs you less than you sell it.   

How is that for profound?? 

[Tim Russ]

Actually you can make money by having what they call a loss leader.  You sell a $10 product for $1 and take a $9 loss but then you make them an offer once they buy that nets you more than the $9 you lost in the first sale.

Another method is to GIVE AWAY something like that same $10 product and make them an offer that allows you to make more than $10.

One has to consider the life-time-value of each customer.  How many times will you sell to that person over the period of their life?  You can actually give away a very valuable product to introduce yourself to them and make that money back through your life time relationship with them.

There are tons of ways to make money.

[Ro]

That is very interesting.  Guess I am still thinking in the "Old Days" when it was all the bottom line comparing input against output.

This info is great for those who are serious about starting their own business.  In these economic times that would be a good thing to do when we still have a job to bring in the money while we build a business for either a good second income or to replace the first one.

Good stuff!

[Tim Russ]

It's like the old-school notion that it takes money to make money.  It doesn't.

For instance, I began to talk about the course I was GOING to prepare for teaching people how to write.  The discussion produced some interested people.  When enough of them expressed paying interest I began putting the course together.  This is simply a matter of sitting down to type out what I know.  No money need be involved.  I can even set it up online for secure deliver at no cost to myself until AFTER I make money.

Anyone who's really interested in making money can start in TODAY'S economy at no cost and they can make money.

[Ro]

That is a very good description of HOW it is done.  It doesn't take a rocket scientist to understand that.  I think my problem is I have so many ideas I have trouble focusing on one long enough to get it off the ground. 

[Tim Russ]

The problem is that you don't have dedicated purposes for the money.  Unless you have a specific need for the money you won't be able to focus because there's no goal to focus upon.  At this point the money is a concept, an idea, or a dream.  You may have a lot of things you want to spend money on but no one thing you really desire strongly enough to drive you to a focal point.

[Ro]

OK.