What does it takes to build a million dollar business online? Do you ever think you will be fortunate enough to build one of such businesses in your lifetime? Building a million dollar business online might sound like an impossible thing to do but with so many opportunities available to us today than ever, it is becoming more than possible to achieve success and financial freedom online.
With so many people achieving success online it is a clear proof that you too can achieve success and build a profitable business online. A lot of ordinary people like you had been able to create a name for themselves in their various industries thus establishing themselves as an expert in their fields and gone out of the way to build a profitable business with nothing but a willpower to succeed and the right tools and resource to enable them create a profitable internet business in today’s economy.
How did they did it?
One thing I love about success it that it leaves clues. Success leaves clue and to succeed, you only need to analyse other successful people and find out what they did to become successful, learn how they were able to succeed and implement the same EXACT steps and strategies they executed to get to where they are today and within a short period of time you will see yourself in the same position as them. You don’t need to reinvent the wheel again, you just need to model and follow people who are already successful in the same venture niche you want to get into.
Now, we are going to look at what it takes to effectively build a million dollar business online. We will be looking at attributes, traits and virtues you need to possess in order to effectively build a business you will be proud of and how you can effectively leverage resources within your reach to create your world and reach your first million in any business of your choice.
It all starts with a dream. How big is your dream or to put it the other way round, do you really have a dream? According to Napoleon Hill, “Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything”. To make money online you need to have a dream and a burning desire to succeed. A dream is something that keeps you awake even while others are sleeping. It’s something you think of and occupies your mind at all time and there is nothing you can do if you don’t have a dream and a burning desire to succeed at what you do.
To build a million dollar business you have to dream high and big. The future belongs to those who believe in the beauty of their dream. When you have a dream so high and strong it becomes easy to overcome every challenge, obstacles and road bumps that you come across on your way to achieving your dream and goal.
Every successful people you see today started with a dream and a burning desire to succeed. It fuels and energies you to go the extra mile for your business and allows you to achieve extraordinary results for your effort. If you don’t have a dream, now is the right time to start building on one. What are your end results? What do you want to achieve? Is it freedom, wealth, financial independence, time independence? What would you have done and how would you feel if you had a million dollar today? Meditate on all these and fill your mind with the pleasant memories of being rich and you will be moved to do the impossible. That is how to begin your journey to a million dollar business. Dream it!
The internet is filled with so many distractions today which ranges from Facebook to Twitter, Pinterest, Instagram and every other social media platform on the net we are totally carried away. Even our emails can be a form of distraction. We are subscribed to so many newsletters and each one of them constantly aiming for our attention.
Every single day, your inbox is filled with emails from different marketers promising you this and that and tomorrow you go ahead to purchase the next magic bullet hoping to make money, and by next week you see another shining object being advertised on the internet and you go ahead to purchase it and by the upper week a new product hits the market and you change your focus to the latest trend, running round the circle without a focused mind.
You can’t build a successful business that way. You can’t build a business moving your attention from every shining object been advertised on the internet to the other. You need to absolutely focus on your business. You need to cut yourself away from every form of distractions or at least, reduce it to the most bearable minimum. Unsubscribe yourself from some email list if you have to. This will allow you to focus your energy, time and resource on building and improving your own business.
Without focus, you will only be be drifting from one place to another like a ship without a rudder. Therefore, in order to effectively build a profitable and million dollar business, you need to focus on growing your own business.
More like focus, a man without a goal is like a ship without a rudder. In creating a million dollar business, you have to set attainable, reasonable and realistic goals for your business. Your goal setting also needs to include both short and long term goals for your business.
When I say setting attainable goals, it’s important we set goals that doesn’t look exaggerated. We need to set goals that are realistic and attainable within a stipulated time interval.
For example, if your goal is to build a million dollar business within a year, here could be a breakdown of your goal:
Can you see how I was able to break down a $1m a year business plan to $0.03 every single second? This is awesome! This is the power of goal setting. That means to achieve my $1m within a year, I only need a constant flow of $0.03 every single seconds. You can set the daily and monthly plan as your short term goal while setting the twelve (12) months plan as your long term goal.
You should not underestimate the power of goal setting. It is the difference between making your first million online and struggling to make a penny online.
You can’t just start operating a business without having plans in place. You need to have a detailed action plan of what you need to achieve, your current position and where you need your business to be in the shortest period of time. And by setting attainable, reasonable and realistic goals, you are effectively building your million dollar business.
Choose Your Business Model
Now that we’ve gone through the basic mindset shifts needed to creating a profitable business, now is the right time we choose a platform to operate on and this can be achieved by choosing to proven business model to leverage on.
I will let you on one secret: “to actually make money online, someone needs to give it to you!” Someone needs to reach out to his credit card and pay for a product or service in favor of you. Many times, so many of us think that our computer is like an ATM machine or a money dispenser, we sometime get to believe that we can just sit in front of our computer doing nothing and at the end of the day, money comes out rolling from our computer. It doesn’t work that way. To make money online, we need to offer something of value in exchange for our client’s money, that is one way you can start building a business in the first place.
Now that you’ve gotten a dream and a burning desire to go with, focus to make you responsible and accountable, and goals to keep you on track, you need to choose how you are going to start earning online.
There are many ways to start making money online but I will list some proven methods that will allow you to easily and effectively achieve your million dollar goal. Remember, it only takes you $0.03 every seconds and $2777.78 per day to arrive at a million dollar in a year.
You won’t start making $2777.78 the moment you launch your business but with proper planning and determination, you will achieve such goal within a specific period of time. Now, let’s look at the various business model that can enable you achieve such goal:
- Affiliate Marketing: Affiliate marketing could be your very first beginning to building a profitable internet business. This model involves you selling/recommending other people’s product for a commission. With affiliate marketing, you make money when you refer someone to a product or service and the person buys the product or service based on your recommendation using your unique tracking link given to you by the affiliate network or vendor. The commission could vary from $1-$1,000 depending on the product you are promoting but an average commission for an affiliate product could be anywhere from $47. Using this model, how many sales do you need to arrive at $2777.78 per day at $47 average commission? Just sixty (60) sales per day.
- Product Launch: This model involves you creating and selling your own product instead of selling other people’s product. With this model, you are easily going to achieve your million dollar goal in a year since you won’t be sharing your proceeds with anyone. For example, if you have a product that sells for $97 how many of such product do you need to sell per day to achieve your goal? Only twenty-nine (29) sales per day.
- Also, the beauty of selling your own product is that you can even choose to recruit affiliates to sell your product and you state how much you are willing to pay for each sales generates for you by your affiliate. With this, you are going to scale up quickly and easily reach your goal than when you try selling your products all by yourself. But proper research need to be undertaken before you create your product so that you can create a product that is in high demand in your market.
- Services: If you are good at something, why can’t you offer it as a service at a lucrative price while enjoying what what you are good at. Most professional services like consulting service and coaching programs selling from $197 and with this you will only need about 15 clients per day to achieve your goal. Again, this is more leverage.
- Licensing Proven Businesses: This is one of the best leverage you can use to easily attain your million dollar goal per year. This combines the benefits of Affiliate Marketing and Product Launch without the stress involved. With this model, you don’t need to create your own product nor share your sales proceed as in affiliate marketing but you still have to keep all the profit from sales and transactions done on your behalf simply because you leveraged other successful businesses and brand. For example, if you were able to license a product that sells for $2,000 and you were to keep 90% of the profit, how many of such do you think you need to achieve your million dollar goal? With just two sales, you are making a whooping $3600 in commission! That’s the power of licensing proven business.
We’ve looked at four (4) different business models that will enable you to effectively build a million dollar business within a specific period of time and the attributes you need to possess in order to enable you build a passive income and actualize your goal, these figures might seem impossible but when you get started, you will see how easy it is to scale up your effort.
You won’t make a million instant but what if you were able to make 10% of a million within six (6) month of taking action today? That would be $100,000 within six (6) months from now. You only need to believe in yourself, be the best you can ever be and start taking action today.
Remember that the secret of getting things done in life is to do it now. I will like to leave you with a quote by Chris Gardner, “Baby steps count, as long as you are going forward. You add them up, and one day you look back and you’ll be surprised at where you might get to”.
Now, it’s over to you, what do you think about building a million dollar business? Do you think it is doable and achievable? Do you think you will ever get to build a million dollar business in your lifetime Do you think you have the necessary attributes and traits it takes to build a million dollar business? Do you think there is any trait you need to build upon to enable you achieve your goal? What could they possibly be?
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