What is a portfolio and do I really need one? A portfolio is
simply a group of investments held by an investor. It’s a very
carefully chosen selection of businesses and generally, yes;
it’s a good idea to have one.
Let look at it this way. Imagine that you owned an umbrella
shop. If it didn’t rain for several weeks, you would make no
sales at all and therefore, you would make no money. If your
shop sold umbrellas as well as wellington boots, raincoats,
ponchos, sun hats, sun cream, sun glasses, ski shoes, hats,
coats and scarves, chances are, you would make a sale whatever
the weather was.
When it comes to starting business as an Internet Marketer, you
actually have a lot of choice.
If you are good at spotting a niches and if you are skilled
enough to create a product then you have this as an option
available to you. Alternatively, allow other people to create
the product and all you have to do is market the product as an
affiliate. If the nature of the business allows it, you can
build networks of marketers and/or customers and grow your
business this way.
Whatever route you chose to go, you will ultimately be in
business to sell a product or service. The not so good news
is this: Despite the excellence of your goods or the amount
of skill, wit and charm with which you promote your wares, not
everyone will be interested in what you have to offer all of the
time. In fact advertising standards suggest that less than 5 in
every 100 people that you approach will say yes!
But you can save the day, keep your options open and make your
profit regardless. If you happen to have a variety of services
then you automatically increase the chances of selling at least
one product to your prospect.
It makes excellent business sense to have a business portfolio.
Although most well known entrepreneurs make most of their money
from one primary source, many do have their finger in more than
one pie at the same time. If sales or signups go down in one
area, you may be doing well elsewhere and still be in profit
overall.
If your product is seasonal, you would still want to be making
sales whatever time of year it was.
That said, exactly what goes into creating the ultimate portfolio
of businesses in internet marketing? I will use one portfolio
that I have created as an example.
The Internet is now a force to be reckoned with regards to
shopping largely due to the growth and extensive advertising
campaigns of companies such as Amazon and Ebay. If you own a
website, become an Amazon affiliate and position shopping links
for your visitors on your site. Visitors may not be interested
in the e-book that you spent many late nights writing but if
they are in the mood to go shopping online and they spy your
‘shop here’ amazon link, hey presto, you’ll make some cash!
Next tip: Choose programs that are easy to promote. Programs
that have a good simple product that everybody needs. Choose a
program that offers a good simple pay structure. What about a
fun program? Everybody has played the lottery at least once.
Would it be easy to promote a program based on the World’s
Largest Lotto?
If you are promoting more than one affiliate program, you will
almost definitely need a downline builder. This is a program
that houses all your online businesses so to speak. You advertise
your downline builder and when people signup, they see all your
other programs and can consider whether or not to join. downline
builders are efficiency and economy exemplified. Buildreferrals
and Referralware are two such examples. Indispensable business
building tools.
After you’ve spent a few weeks building your business on the
internet, you will begin to notice this: There is a large group
of people of all ages and backgrounds who will ask this question
on a regular basis: “I want to start an internet business but I
don’t know where to start. Can you help me?” People asking this
question pop up all over the place – In online discussion forums,
in your inbox, you name it. Here’s your chance to help a hot
prospect to become successful and thereby become more successful
yourself in the process. Read how:
Introduce them to a program that will teach, guide and educate
them for you, making them into a professional, well-learned
marketer. Imagine having several people like these as partners
in your business. Check out Michael Russell’s MPAM and Steve
Leung of CashCulture’s Make Money University.
Let these professional programs teach your Newbie all about
search engines, traffic exchange programs, rotators, email list
building, safelists and every other conceivable advertising
method available online today. If they sign up to any recommended
programs, you effectively build your up business simultaneously.
Everybody needs a business building tool but not everybody may
need your particular service or product. So aim to promote or be
affiliated with educational tools, website builders, downline
builders and so on.
In summary, many programs offer you what seems like the
opportunity to make a million in a very short time as well as
a host of other fantastic benefits. But always stop to ask:
* What does this program have to offer my customers or my
downline?
* Will it be easy to promote? Will the conversion rate be good?
* Will my portfolio be balanced so that I am offering different
prospects different types of goods and services?
Adopt an ‘I have something for everyone’ approach in business.
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