When beginning to create an online business a key fact which needs to be understood from the start is that a long term business demands that you generate multiple streams of income. Initially the business will begin with one particular campaign. I think it’s the Chinese that have the saying: “The longest journey begins with a single step”. We all have to start somewhere. But however well this initial campaign does, there needs to be follow up. Whether this is through the sale of backend products, the launch of further products within the same niche or, even, the development of a totally different secondary niche, will depend on the individual marketer.
The income generated by your first campaign may well be very rewarding, both personally and financially, but it isn’t going to create enough money to live on, certainly not beyond the initial burst of sales. There will soon be a need to bring in more income. The first campaign may well continue to bring in some passive income for months; even years to come but it will need to be reinforced by other projects. Over time a sort of portfolio of campaigns will develop creating a business built on a range of products and generating multiple streams of income.
If you have just one product bringing in $100 a month (a very pessimistic figure); imagine what it would be like to have ten such products on the go. Then the income starts to become useful. Think even further; – if some of those products were valuable backend products bring in $1000 a month plus some subscription sites worth the same; then you are getting into really serious money. Beyond that, the sky’s the limit. One of the biggest strengths of internet marketing in business terms is the massive profit margins. With many campaigns the initial expenses are covered by the first two or three sales. After that it’s almost all profit. It doesn’t take much imagination to see the value and potential of this sort of business, generating multiple streams of mainly passive income.
Selecting a niche within which to operate is a necessary starting point whichever direction your online business may eventually go in the future. The ideal, however, is to find a productive niche and work it to best of your ability. Any thoughts of developing other niches should be way down the line. Get one niche thoroughly established first. If you can find a specific topic within a niche which does not score too highly on the search engines you have a business. The aim is to find a niche which has a substantial following but which is not saturated. Then find your “niche within a niche” with a hot market to sell to. Sticking with one particular niche will give you the opportunity to build a niche related opt-in list of interested subscribers and former customers who will be much easier to sell to than seeking new customers all the time.
Work methodically as you keep adding campaigns to your internet business. Tackle one offer at a time, that way you can concentrate all your energies on getting it right. Only when that project is completed, up and running successfully should you look at the next campaign. By this means you will ultimately generate multiple streams of income, much of which will be passive income. Patience is a virtue they say. It certainly is in this context. Enjoy your business.