Steps To Get A Product/Service For Your Million Dollar Online Laptop Business
In this economic downturn, it’s become increasingly difficult for people to make ends meet with just one source of income. The attraction to find other ways of making additional income has being so important like never before.
The attraction of being able to run your own online business on your laptop from the comfort of your home can therefore never be denied. For most people the desire for freedom without financial worries is paramount.
First, let’s look at the different types of incomes we all get one way or the other.
- First, one-off income, which we get when we sell something or for completing a contract. It is not always the best for long-term survival and comfort. If this is how you earn, then you are likely to keep wondering what happens next at all times.
- The second income stream is the salary we get for being efficient and effective at our 9 to 5 jobs. This also demands of us to conform to company policy and procedures at all times or we get kicked out. This situation has not always been useful in our quest to progress ourselves.
- The third source is residual income which is also known as recurring income. It’s the ideal situation you as aspiring laptop millionaire should aim at.
- You basically set up once and the money continues to surge into your bank account, even when you have stopped doing that work. “Sleeping and getting money”
Getting residual income is the secret of Internet Laptop Millionaires. You set up a website, plug in a product, support it with a good but low-cost advertising method and voila! You start getting residual income from then on. Unstoppable!
Most online marketers have made ridiculous money through this means, all from their own homes with laptop and desktop computers. Some have wisely turned this profitable $million business into full-time self-employment.
Others are just keeping themselves busy, having fun, and enjoying the lifestyle this kind of online marketing business brings with it, but how did they come about deciding what product/ service to offer their prospects to make such huge profits?
Now let’s dig down a bit. First when we are convinced we want to go down the online laptop millionaire route, we’ll then need to do some brainstorming and some research on what we can offer our prospects that is unique, of quality and reasonably priced.
An ideal product/ service is one that your prospects will need to buy over and over again from you for numerous reasons, be it for updates or replenishment.
Your ideas for sources of product/ service to sell could come from the following:
- What do you most enjoy doing? Your passion or interest – cooking, gardening?
- What kind of job do you do – coaching, programing?
- Any ideas from friends and family?
- What skills and knowledge have you acquired that are needed by others – childcare?
- Look at what other people are profitably selling and join in.
- Look at what is popular/fashionable these days from magazines, newspapers and the press.
- News items of new products/ market trends – MSN and YouTube (iPhone).
- Do online surveys to find out what people want – surveymonkey.com.
- Ideas from marketing experts – seminars, videos, webinars, teachings and articles by renowned marketers – DVDs, eBooks.
- Source products from wholesalers – Alibaba.com
- Doing online market research is very important, on what is selling – Amazon and eBay.
- Do keyword research on market niches – Google keyword tool, Alexa.com and online forums, to mention a few.
- You can also go for private label right products for resale.
- Joint ventures – selling other peoples product to your own list and many more.
If you are one of those who can’t bear the idea of cracking their brains, investing in the untested, the affiliate marketing route is the best option.
You can equally opt for drop-shipping offers – selling products for established product manufacturers and wholesalers for commission – Nike.
Affiliate commission and drop-shipping offers are comparatively safer option, as their profitability have most often been tested already either by the product originator or someone else. You therefore take on comparatively lesser risk on your investment, but they are usually not the most profitable option as you get only a percentage of the total profit.
The route you take is a matter for you individually to decide and the amount of cash you are expecting for your effort, as some are profitable than others.
It is also dependent on the amount of cash you have available for your investment.
The secret is, the product / service you choose should be either a high value item/service, or product/ service that your customers need more of from time to time… and that will subsequently enable you to get residual income.
The need to do market research for the size of your niche market is also of utmost importance. To find out just how many people out there are hungry for your product/ service. If that would be profitable enough for you to invest your hard earned cash in the venture.
When you get your product/service and your target niche right, you will secure sale, and subsequently profit will result.
Timing of the marketing process is also important, but you get more money by allocating time for the online marketing task and doing more of what had been profitable for you.
You also need to re-invest your profit to expand your marketing activities for even more profit, in order for you to achieve your millions.
As you expand your marketing activities, you may need to consider hiring other people to alleviate some of your work-load. Sometimes outsourcing some of the task you have to do to support your business.
You will surely achieve your Online Laptop Millionaire status when you achieve the above successfully. You’ll then start enjoying holidays in the Bahamas and Hawaii whilst your PayPal account collects the cheques and credit cards details on your behalf.