Is Internet Marketing your Hobby OR is it a Real Business? Part 2
First off, thanks for your comments in part 1 of this series of posts. Apparently Subway has the lowest franchise licensing fee in the world (about $15k) to get started. McDonalds approximately $45k and KFC approximately $44k just to own a license.
While that's a lot of money for most of us (myself included), it's only the initial cost of getting into a licensing agreement. Factor in other startup costs like having a physical store, having staff, etc and the initial investment easily goes up 20 times! Just search for "McDonalds franchise cost" and you'll see results like $1-2 million initial startup investment required.
What you're really investing in is actually a profitable system that works... and we know that such systems work to generate its owners plenty of money. All you have to do is follow that system and put in your due diligence.
Now assume you own a franchise like that. You'd have to deal with logistics, inventory, staff, salaries, customers, etc. Think for a second how much time you actually have to put into your business so it's profitable.
30 minutes daily? 2 hours? 10 hours?
The reality is, you have to be fully committed to be a truly successful franchisee. Just talk to any franchise owner and you'll discover how much time they actually put into their business.
So what does franchising have to do with Internet Marketing?
If you've read part 1, the first thing you have to do is stop believing the lies that this can work with just 30-60 minutes daily. 1 hour a day is the BARE MINIMUM you will need to actually have enough momentum to see things moving forward. I've tried 15 - 30 minutes and it just doesn't get you anywhere. Even 1 hour won't get you anywhere if you're not doing the right things for your business.
Like owning a proven franchise, you can't make a full time income working online investing the bare minimum hours of your time. Each of us have 24 hours a day and whatever we choose to spend your time on directly affects your business.
What are you doing right now with your online business?
Are you spending your first hour...- watching info product videos
- reading the dozens of emails received from gurus
- checking Facebook
- browsing YouTube
If you answer yes to any of that, you're likely spending more time being busy instead of being productive. In this case, your time IS costing you money!
Identify what you're busying yourself with and leave a comment or write it down on a piece of paper for your reference.
What do you think of this post?
Has it been beneficial to you? Is there anything specific you'd like me to focus on in upcoming posts?
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