If you don’t want to read it, you can watch this video.
Let’s answer the big question. What is the best online business for me? Everyone wants to build a business. Everyone wants to start making money. But everyone is putting the cart before the horse. I’ve got an answer for you. It depends. I know you don’t like that answer, but that’s the truth.
Many people are following the follower. It’s a problem. How can I break this down for you? You have a special set of skills. There’s something you can do better than anyone else. That’s usually going to be your path to long-term prosperity.
But, this is what happens. You see Bill or Bradley and they’re doing something sexy and exciting and you decide you want a piece of it and you completely forget to follow and blaze your own path. I know it’s hard. But, you need to do it.
Even during that time when I almost died, I still kept following the right path for me. The path that is for me may not be for you. You have to do the hard work of discovering what is your special shit.
The first thing you have to come up with is a concept. The concept is just a small piece of the pie. I know that’s not what you were thinking. The next thing which is a huge part of the formula is execution. That’s the secret sauce. That’s what makes the world go around. What makes everybody happy is execution. If you can execute better than everybody else doing what you’re doing, then you will win.
When I was talking about resale, I dominated that niche because nobody executed like I did. There was no one putting up five videos a day and telling these crazy auction stories. In 2009, there was nobody doing it.
I made tons of mistakes. I lost tons of money. But, I still dominated because I executed. For you math people, if your concept is 10% then your execution should be 300% of the process. As long as your concept is a smaller part of your business than your execution proportionally, then you will win.
There are many people out there with brilliant concepts. Everybody loves it. My Mama loves it. Uncle Bob loves it. But, you can’t make a dime off of it because you don’t know how to execute. You don’t know how to go out and say, “Hey Mr. Customer, my name is such and such and I’m with so and so company and I want your money because our product is better than anyone else’s. Give me five minutes of your time and I’ll show you.”
You don’t want to do that. You just want to get word of mouth. You say you don’t have to sell your shit. That’s bullshit. Apple sells. IBM sells. John Deere sells. Mercedes Benz sells. Everybody markets. When you get to that billion-dollar range, you’re going to get there with a slick marketing campaign not by word of mouth. It may be so imperceptible that you don’t even realize you’re being sold, sort of like what the Koch brothers did with the Tea Party. But, we’re not supposed to talk about that.
Okay, I’ve come up with nine ways to make money online. One is ad money like AdSense and banners. That’s a common way to make money.
You can sell a service or sell products. Other methods are sponsorships, building apps, affiliate marketing, and being helpful. There are people who have made a great deal of money by simply being helpful.
Becoming an authority is another way to make money online. That’s my path.
The ninth way is to create a website.
Those are the nine things that you can do to make money online. There is some overlap with some of those things. But those are the broad ways you can operate an online business.
What makes website A do much better that website B is execution. So, it’s really not your business concept that matters the most, it is your execution. It’s how you hustle, that’s it.
People tend to focus on the concept and worry about how they will make money online. My translation for this preoccupation with worrying about concept is they are trying to decide how they can make money without working that hard. I know that because I speak bullshit. That’s the real question. The answer is: “I don’t know.” You could marry somebody that makes a lot of money online. That could work.
You’ve got to focus like a laser. Here’s the thing. Many of you are like the sun. You’re brilliant and shining like diamonds, but you’re all over the place.
When I started this channel, I had a laser focus on one thing, storage auctions. I really, really focused and that’s why it did well. In the beginning, you have to do one thing and that’s it. Once you master that one thing and it works perfectly, then you can move on to a second thing or a third.
Once you have that one thing down, the next thing you have to do is get money as fast as you can from that one thing. I don’t care if it’s $5 for the first month. That’s a win.
You have to build on a process. There are a lot of companies that didn’t make a lot of money in the beginning, such as Uber and Google. They had money to support them because they knew the concept would make money.
If you’re running a lifestyle business like me or selling a service or product, you don’t have a lot of time to wait. You have to start making money as quickly as possible. Give yourself a timeframe. Say, “I’m going to make money in the next 24 hours.” Talk to customers. That’s how you make money online. Go get it.
So, stop looking for magic jelly beans, pick something and go to work on it as hard as you can.
If you like this, be sure to get on my email list for updates to live streams and special offers. Subscribe today!