10 Hot Tips for Making Money Online

Red chillisAnd by “Hot Tips” I mean ones that will actu­ally work.  Want to know how?

  1. Have a real busi­ness. Online is only another chan­nel to mar­ket (and a very good one!), but it’s not a sil­ver bul­let.  Don’t believe any­one who says it is.   There aren’t really any secrets — beware of the yel­low high­lighter crew.
  2. Work hard. You don’t have to have a unique or novel idea. Just do it bet­ter than your com­pe­ti­tion, and be relentless.
  3. Use social media prop­erly — it’s SOCIAL — cor­po­rate lan­guage & mar­ket­ing won’t work.  Social media works when you give your cus­tomers and poten­tial cus­tomers the chance to get to know you as a person.
  4. Net­work off-line, then con­nect your net­works online. The power of online is in its poten­tial to reach vir­tu­ally any­one in the world, 24 hours a day, 365 days a year.  Start with the peo­ple you know in real life, and they’ll do the social media part for you, fil­ter­ing out the low value, the fly-by-nighters and the follower-collectors and leav­ing you with high qual­ity prospec­tive clients, cus­tomers, busi­ness part­ners and friends.
  5. Work on peo­ple — the right part­ners, employ­ees and cus­tomers. Focus on the peo­ple who are pas­sion­ate about being on the bus with you.  With­out them you can’t achieve much.
  6. Design your sys­tems, and work them hard. How will you find cus­tomers, how will you get them to buy, how will you ship, how will you get paid? How can you mul­ti­ply your effort?  If you haven’t thought about how to do all those things, reli­ably, repeat-ably and with as lit­tle time and effort as pos­si­ble, you’ll never get ahead.  You won’t see the for­est for the trees.
  7. Watch and try new tech­nolo­gies, but don’t be blinded by shiny toys and clever ideas for their own sake.  Tech­nol­ogy must com­ple­ment your busi­ness, not the other way around.  An extra 10% time or cost sav­ing is enough to put you out in front. An abil­ity to reach more prospects, or retain more cus­tomers through bet­ter com­mu­ni­ca­tion or ser­vice is golden.
  8. Under-promise and over-deliver.  Aim to delight your cus­tomers at every oppor­tu­nity, and they will love you so much they’ll never leave you.
  9. Don’t sell to peo­ple who don’t need or can’t afford your prod­uct or service.
  10. Read, learn, exper­i­ment. Ask those who’ve gone before you for advice and help.  Don’t wait for the right time or the right cir­cum­stances.  For the first time in his­tory, almost all infor­ma­tion is freely avail­able to every­one online — if you’re dili­gent and dis­ci­plined you can get started with very lit­tle or no money.

Post to com­ments with your own “golden rules”.

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3 Responses to “10 Hot Tips for Making Money Online”

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  1. James, years ago I was inter­view­ing for a job sell­ing Apple com­put­ers. The lead sales per­son asked what I would say to a prospect who told me he used Win­dows (at the time Apple didn’t run Win­dows) and I started telling him how I’d con­vince the prospect Mac was bet­ter. He promptly thanked me for my time and told me I wasn’t going to get the job. When asked why, he explained what you basi­cally said as point #9, don’t sell to peo­ple who don’t need or can’t afford your prod­uct or ser­vice. Great advice :)

  2. James says:

    Thanks Chris — that’s a per­fect exam­ple of tip #9. I’m really com­pelled by an eth­i­cal, sus­tain­able approach to busi­ness. I’ve had a few dif­fer­ent sales jobs in the past as well, and I per­son­ally could never sell with­out being able to look peo­ple in the eye and know they’d still be happy with the pur­chase months or years down the track. In a sim­i­lar vein, I just saw this great video from Yaro Starak, all about know­ing your niche and your cus­tomers: http://​www​.entre​pre​neurs​-jour​ney​.com/​2​9​9​8​/​t​h​e​-​t​r​u​t​h​-​a​b​o​u​t​-​n​i​c​h​e​-​s​e​l​e​c​t​i​on/

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