Introduction

So many people want their own business. And what’s not to want when having your own business means having control over your schedule and having the freedom to work whenever and wherever you want?

If you are reading this post, then it is highly likely that you are looking into working and earning online. I would think that is the very reason why you signed up for the membership here at Wealthy Affiliate. Fortunately, the Internet is full of opportunities, but just like any job, you need to be dedicated and committed if you are serious about earning a living from it.

The Key Concepts For Success In Online Business

Internet marketing has a high failure rate, especially for newbies. But don’t let that discourage you. If you go into this industry with the right mindset, it does not matter how competitive it is, succeeding in it will be possible. Sticking to the training here in WA will give you the edge on other entrepreneurs. Here are the fundamental concepts you need to understand to avoid making mistakes early on

1. Work Part-Time With A Full-Time Mentality

One of the main reasons why so many people fail at Internet marketing is because they do not prepare enough for it. Having a 9 to 5 job might mean that you are only able to work as an Internet marketer for a few hours—about 3 to 4 hours a day, but that does not mean that you should work on it with a part-time mentality.

2. Build Your Assets Online

To successfully create your own business online, you also need to build assets, especially if you dream of quitting your day job. What most people might not realize is that a 9 to 5 job is only considered a source of short-term income. Why? Simply because when you stop working or when you get fired, the money stops coming in immediately.

If you want to be able to quite your job, you need to look for ways that will help you stop trading your time for money. One excellent opportunity to generate long-term sources of income is to build your online assets. Here are some of the ways this is possible:

• Leverage On The Internet. There are many sources of free traffic on the Internet such as forum marketing, social media marketing, guest blogging and video syndication. Using these resources right, your website and social media accounts will pull in visitors and allow you to make sales.

• Leverage On Fellow Internet Marketers. Having your own contacts is crucial. But if you can create a product that other people are willing to sell then you can leverage their contacts too. Affiliates selling for you, means that you can do less of the marketing yourself. It also enables you to reach out to a larger audience.

• Leverage on your mailing list. Build up your list and invest a lot of time in content development. Email is still one of the best methods of Internet marketing.

• Leverage on your reputation. All marketers, even bloggers, start out with no following. But the more time they spend on marketing, blogging and posting on social media, the more exposure they get, the more popular they become and the more followers they get.

• Leverage on outsourced work. If you get to the point where you are earning enough money, you can consider outsourcing areas of your work to other people, so you can focus on managing your business more.

3. Outsource To Build More Assets

Having your own business might make you want to take on all the tasks and deal with them yourself. But for you to become capable of expanding, building more assets or reaching a bigger audience, you will need to consider outsourcing some of the work from time to time.

4. Create A Plan

To increase your chances of achieving success, you need to put together a logical business plan. You need to build your credibility and gain the trust of your potential customers. Making a business plan will help you determine the areas which you are weak in, allowing you to outsource as opposed to failing at it yourself.

5. Increase Your Credibility And Learn From Criticism

As an Internet marketer, you have to make an effort to create content that is compelling and interesting to stand out and beat the competition. Your blog posts, social media posts, email titles and content will all help to establish you as an Internet marketer and efficiently brand you into your chosen niche

If you feel that you need more expertise in your niche, do not hesitate to ask for it. Be a student and attend seminars or conventions about your chosen online business model and niche. Research real-life examples and learn from them. Make connections and ensure that you always keep thinking and learning, so that you can move your way through your field and expand your customer base.

Remember that you will find lots of information and tutorials on any of the mentioned concepts right here in Wealthy Affiliate. Just search for it in the search bar.

Hennie

Remember to leave a comment so that we can learn from each other.

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Robap Premium
Very well written. I looked at many different platforms.
I picked this one ultimately because of the training, and mindset of the community.
The first thing is this will take work, and time to achieve results you can live off of.
In the long run the roots you cultivate will contribute the most to your grown, and success.
Thank you
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HennieSteyl Premium
Thanks for taking the time to read it, Robert. WA is indeed a wonderful platform. I enjoy my time here. I am glad if this is of some significance to you.
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sidlor01 Premium
Hi Hennie,
I have been with WA for about a month and am still trying to get through the innitial training. I falter but still push myself to continue as this is something I will succeed in and succeed well. A couple of your posts I found interesting and agree with.... making it a part time job but with a full time mentality. I am now taking my time and researching anything I question in the training, after starting again from the beginning. I am not intending to rush through it as I intended to do originally to get set and get rich... it will take time and I appreciate your input and experience..

respectfully
Sid Bennett
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HennieSteyl Premium
Sjoe, Sid. What can I say? I wish you all the best and many blessings from the bottom of my heart. If you ever need help, you know where to find me.
Hennie
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Urolin1981 Premium
Hi! Hennie,
I picked one of your WA posts titled The Key Concepts for Success in... You said well on many pertinent aspects of online life reality, which I totally concurred. I admired and respected your digital accomplishments, which brings a lot of inspiration to many especially the newbies like me.

I joined WA in 9/2017, and am still on the roller-coaster ups and downs ride of e-Marketing, for which I have been building a site which could be found at the right lower corner of my WA profile page. To assure its functionality for e-marketing, would you please critique on what and how I should do to push this baby into its designated orbit of e-Marketing sphere. I do value your expertise views, comments, and suggestions.

Much appreciated and best to you and family.


James
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HennieSteyl Premium
I am flattered, thank you, James. Which one of the three do you want me to look at?
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Urolin1981 Premium
HI! Hennie,
You are welcome and I just told the truth what I discerned from reading your profile and posts. The focus of attention is sent in PM to you. Please help. James
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HennieSteyl Premium
Will do James.
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Bryan8 Premium
Great article! Thanks for the insights. With this being my first attempt at earning an income online I am finding it difficult to create a plan. There are so many things to learn and a whole new vocabulary to go along with it.

I'll make it because I have to, I have no choice. I just wish that I had a map to follow. It seems awfully easy to get lost on this journey.
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HennieSteyl Premium
Stick to the training, for now, Bryan. Don't hesitate to ask questions. Look at this training of the different ways to ask questions here in WA. Hennie
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Riprock Premium
First of all Hennie, thanks for your support.
You have touched on a few things that i considered priorities although at this point i am not up to those stages as im a newbie and am still going through the web page set up stage in the first module.
I really like but never thought of outsourcing to enable me to grow my assets, it would take some workload from me but as stated i need to be in a financial state to be able to manage that.
I also never thought about having affilliates of my own but in saying that i don't want to be known as a pyramid seller. Maybe there is another description i could use.
One thing is for sure and that is that i take constructive criticism as a blessing and that is a key to success i believe especially coming from somebody that knows or have had experience. Some people don't like the voice of critics.
I think it's one of the key elements.
Thank You
Regards
Darrin
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HennieSteyl Premium
Thank you, Darrin.

It is awesome that you got some tips out of this.

Affiliate marketing was never and will never be a pyramid scheme if you are doing it right. In its simplest form, it is you promoting and selling somebody else's product for a commission. Being an affiliate is like being a freelance rep that sells products for a commission.

Attached is a diagram of the process.
All the best
Hennie
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MarkDouglas Premium
Hi Hennie! Thanks for this post. Your spot on "part-time mentality" really hit home. That was a critical piece to my prior failures in building an internet business.
I was in professional management for many years, and made a good living. However, I encountered another point you made, income from your 9-5 job is temporary. Once my job ended, so did my income.
Being in my 50's at that time, 60 now, you don't just begin a new career in management.
Given my management background and ability to build sound business and financial plans, I felt confident that I could start a new business venture. What I found was that I was ill equipped to build a successful online business. Your piece explains a lot!
Thanks again.
Mark
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HennieSteyl Premium
Thank you, Mark. It really warmed my heart to read your comment. It is such a privilege to come up with something that actually helps others.
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JasonMattson Premium
Thanks for the information. I've never done anything like this before, and already feel like I'm getting in over my head. But I'm going to take it one step at a time, take all the training, and make this happen. I'm tired of waiting to "catch a break". I'm so tired of the 9-5 (or 6:45 to 3:15 in my case). I'm going to "make my break", and from what I'm seeing so far, this program and this community are going to help me make that happen. I know I can't do it on my own, so the questions will be plentiful, and I hope the answers are too.
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HennieSteyl Premium
Thanks for reading this, Jason.

It might feel a bit overwhelming but just go ahead and follow the training diligently and you will be fine. If you do that, success will look after itself.

The community is what attracted me to WA. They are very helpful and the training is of the best available on the net.

Remember to have fun.
Blessings
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Rmorgan1 Premium
hey Rmorgan 1 nice to meet u so that was a post I loved it awesome i could"t help but notice you are in the top 100 congrats on that that in itself is something to be proud of and I know yall are family and all well let me say top 87 will u mind couching me my name is Rebecca you know what u are doing smile please let me know. thank u for ur time.
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HennieSteyl Premium
I will PM you on this, Rebecca
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Rmorgan1 Premium
ok thank u I'm going to need help on a lot of things but ill find one later and ill let u know have a great day Rebecca
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Patw1128 Premium
Thank you for the sound advise Hennie. You pointed out a few things that I should know to do, especially the business plan. I have tried internet marketing before. I had a website up and running with very few hits. I let it go as I started a service business and failed. Having experienced that, and not being accustomed to failure, I have a plan and discipline to get the training completed while working full time.

As I do that, I'll be looking for examples of business plans and getting some family input on several lines of business that may work. My BFF of 47 years is with me on this and counseled me on not letting the program consume all my energy. There is a time and place for everything.
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HennieSteyl Premium
Hi Patrick. Thanks for taking the time to read this. It sounds to me that you have a plan. Put your plan on paper and work through it a few times. It is a good idea to work on your plan on different days. The old cliche is very true: Plan your work and then work your plan.
I wish you all the best.
Hennie
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LeeMcQuay Premium
Awesome post. There are many of us who don't truly understand what we will need to put into our online business. Understanding from the beginning that it is NOT going to happen over night and that you are what decides if you make it or not is a must.
You said things I need to do even still. I am definitely saving this and I am going to share it with my new referrals as well.
Thank you Hennie
Best Of Luck In All You Do
Lee Ann
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HennieSteyl Premium
Thank you, Lee Ann. I think that we are all working on some of the points, even if we are already full time.
Glad it means something to you.
Hennie
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LeeMcQuay Premium
I really appreciate it. I shared it on my referrals pushes already. You are a great teacher lol
Thank you
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