Defining home and or online business. And let's get into first what a home business is. Basically what we're talking about here is a business opportunity. And so when we say that business opportunity does not necessarily mean mlm, so you don't need to feel like, well, this is gonna be a pyramid scheme. That's not what a home business is. That's not what an online business is.

Even though you might have trouble convincing people that that's not what it is, some people are gonna hear online business, that's what they're gonna think. And some people who are within mlm, they define their business as an online business. So there are all those things and all those factors, but categorically, home business, online business doesn't have to be mlm.

Basically, what an online business is, and this is probably the most important understanding of all this, is that it starts out as a trade. And if you understand that it starts out as a trade, you can approach this in the right way, in the same way in, in a lot of the same ways as someone who is going to be a tradesman,

a plumber, or a carpenter. There's some work that has to be done and quite a bit of work and some understanding. Now you don't need to necessarily have a college degree to do that, but you do have to have almost the equivalent of that in a specific area. And so that's the same thing when it comes to your online business. You're gonna have to understand how to use tool.

You have to understand what tools to use during the right, the right scenario. You're gonna have to be able to figure out what tool works where. And it can be, it can be confusing. So you know, part of your trade are the tools, part of your trade is gonna be technical skill. There are gonna be some things you have to know,

you have to understand. Do you have to know how to do H T M L? No. Do you have to know programming language? No, but it certainly helps to know those things. Do you have to know how, you know an auto-responder works? You don't have to know, but it certainly helps to know those things. So when you start talking about this,

if you understand this as a trade, you're not necessarily going into this to supervise people or to scale up and do all those things. To some degree, you do have to understand some of the trade first, and then you've gotta get the right kind of training. So you do have to determine what trade you're going to be in, how you're going to generate income.

And then you've gotta get the right kind of training and training. Abounds. Training is un, you know, training is gonna be provided to you unsolicited. Sometimes what you've gotta do is you've gotta get something that will fit what it is that you're trying to do and you've gotta do those things on purpose. So basically, a trade is always flexible enough to be be turned into a business,

but you've gotta get the trade first. So you've gotta get the foundations of the trade. And once you understand the foundations of the trade, you can take some aspect of it and turn it into a business. You don't have to do that. You can continue to operate it as a trade, as an online business and be just fine. If you just take one aspect of it,

it's universally turned to a career so you can turn it into a career even though you don't have to. Not everybody does that. You might be looking at your online business or the online part of your business as a way to supplement your existing business or a way to supplement your income or the way to supplement your, supplement your retirement. Either way, when you understand that you've gotta understand the trade first,

you'll approach this in the right way. And so this is gonna be always needed enough. You can always coach someone based on the things that you've learned and that you know you can always be turned into consulting. And so there will always be people who, once you understand how to operate certain aspects of the trade, they will need you to either do it for them or they will need you to teach them how to do it.

So you can always consult once you understand. Now you do have to get specialized, you do have to understand certain aspects of what it is an online business does. But once you understand your particular area and you understand extremely well, then what will happen is you can then consult with people and be paid a fee. That doesn't happen all the time, but it does happen.

So let's talk about why the trade understanding is so important. Now, the trade gonna change depending on what you want. So if you want, let's say you wanna do all the work yourself in your trade and you wanna earn all the money, you can do that. So the, the only limitation to that is that when you do things that way,

if you don't do it or you're not going to be present, then you don't earn anything but that. That's not to say that that's not the way you should do it. Some people command such a high fee or they sell such a high ticket product. Doing all the work themselves is not a hardship. It really does depend on your business model. Everything's going to be different for everyone,

but you certainly can do it that way. For example, some people understand how to get on a webinar and how to sell things in their online business. They might be selling something they create, they might be selling something that someone else creates. They might earn so much by doing that. They don't necessarily have to do anything else. They may not have to outsource.

For some marketers, that's all they really do. So there are ways of being able to do that. If you wanna provide a product, you do have to know the trade, but at some point you do have to create a system, even if all you're doing is trying to create something on a regular basis, that you're gonna be the person selling,

you have to have a system in order to create it. Now, you can also provide a service. When you provide a service, you've gotta understand your trade. So in other words, people are coming to you because you can create autoresponder sequences. That's your trade, that's your business, that's the service you provide people. You have to understand different aspects of what it is you're doing,

but you can specialize and just do that. So there's so many aspects and avenues of how to run an online business. A lot depends on what you wanna do, but everything hinges on what you understand how to do. And so the probably the first thing you really do have to understand how to do is you gotta understand the trade and what it is that you can provide and what can be done.

One important question to ask is gonna be, what do you want? You do have to decide on what you want from your home or your online business. Do you just wanna make money or do you wanna own a business? Some people come into this and what they wanna do is they just want to get someone or they wanna buy a system. That is one way of having an online business.

Do you want to provide a service? Maybe you're good at doing one aspect of of the trade and people, people are willing to pay you and pay you at high, high levels because of something you know how to do. That's a way to run an online business. Do you want to sell a product? There's something that you produce outta your mind,

or sometimes maybe there's something that you physically create and maybe you put it on Etsy, or maybe you create something that's a hybrid and you put it on Amazon as a print on demand product. However you do it, you can create a product and you can sell it and you can build a business around that and that can really become your online business. Do you wanna create and invest profits faster than you can spend them?

So in other words, basically what you're trying to do is you're trying to generate cash flow and you're trying to do it in a way so that it outstrips outruns all of the money that you're making. And so you've basically got a nice little living. So you're not necessarily trying to build a business, you're trying to make more than what you spent. That's a viable way to run an online business.

A lot of people do it now, a lot of people are doing a launch model. So basically what they're doing is they find an avenue, they get a list of people, or they get some affiliates and they will launch a product on a routine basis. That's one way of being able to run an online business. You don't have to do that.

The whole idea of doing that doesn't suit you. There are all these other ways of being able to approach an online business that you can actually do. So basically what you've gotta do is you've gotta create the system to accomplish what you wanna do. So if you just wanna make money, if you want to own a business, the key is to create the system that helps you to be able to do exactly what you wanna do in order to earn money online.

The basic Measurement and the thing you have to understand and the thing you've gotta really quantify is gonna be your time. If you can quantify your time, you will be able to determine what it is you wanna do. You'll determine how much you wanna make and how much time you're willing to put in. So right now, here's the key to this. If you're looking at online business and you're thinking about the fact that,

well, I've, I've got a chunk of money and I've got more money than I do have time, you need to approach online business in a certain way. So you're going to approach it by maybe buying certain levels of systems and putting those systems together, or even paying someone in order to do it. You might have more time to spend than money.

So if you have more time to spend than money, then you're gonna have to create some of those systems. You're gonna have to learn some of those things and then you're going to have to put them together so that they become a system. But again, there, there's no one way of being able to do this. You gotta decide on what system is required for your goal.

That is what you have to determine if you're gonna approach an online business, what system is required to get you what you want. If you want dollar amount every month, you figure out how you're going to approach it and then you create a system to do it. It might take you a long time to figure that out, but that is worth doing.

And if you do the thinking upfront, what you'll avoid are all of the paths that people take that take 'em down rabbit trails. And again, that's not to say that it's bad. Sometimes going down a rabbit trail helps you to figure out what it is that you do wanna do, but if you can figure out what you wanna do and figure out a system to get you there,

that's half the battle in an online business. So where, where do we come back to the trade? We learned enough of the trade to build the system. So that is what you are trying to do operationally. You're trying to enough learn enough of a trade to build the right system. If you don't know enough to build the right system, you gotta go learn it.

This is a whole ballgame. And so a lot of that's gonna be based on the time factor that you have and how much time you can put in to either having someone else do it, having a machine or software do it, or how much you can learn to do it and to create the system that will do it for you. The objective is always gonna be to free your time and create more profit.

So, so let's say that you're trying to create something and you're trying to sell a product. Well, you either wanna sell enough product so that it frees up your time so that you have time to create more products. You don't have to go to work, you don't have to do. Those are the things, your overall perspective is going to be,

how can I sell this product in a way so that it gives me more time back, either to put back into the business or to spend the time that I really wanted to, to spend when I created an online business in the first place. So the free your time, you're gonna need some combination of systems and people. That's the whole thing. So as you're thinking about this,

think about what kind of system you can create. Think about what kind of system, what kind of people you can get involved and how you can work with them in order to free up your time in terms of what you bring to the marketplace. Your system has to create profits faster than you can spend them. If you can do that, then you will figure out how to run your online business.

The once you figure out then everything else is a tipping point. You your system and again, not you. So if, so, if it says you creating the profits faster, you can spend them, you will run outta gas, you will eventually tire yourself out. You will eventually come to the point where you might get ill and you, you know,

you're gonna have to take time off. You can't be the one generating the profits. It has to be your system. So your system has to create the profits faster than you can spend them. That is how you take a trade and turn it into what you want. You learn enough of the trade to build the right system, and your system must create profits faster than you can spend them.

That is what you were trying to do, what you're spending your money doing, whether you're, you know, spending it up front cuz you've got a lot of it or you've got enough of it, or you're spending it on the backend as you earn it, you're spending your money to redeem your time. So whether or not you take that time and put it back in your business,

basically you are spending your money to put it into your system so that you can redeem your time to do those things that either you know that that benefit you or that benefit someone else. So spend time before you have money instead, or instead of money. So spend the time understanding the trade, spend the time understanding the system, whether or not you've got money or not.

The system will help you to create profits faster. You can spend them, even if you are going in to buy a business, you still have to understand the business. So understand the business first. Create the system that will help you to create profits faster than you can spend them. Start with low commitments. What do I mean by that? When you start with low commitment,

you can always work to sell information first. That's always gonna be the lowest commitment. What we're trying to do when we're selling information is we can either sell our information or we can sell other people's information. And so we can sell things right? We can sell the things we have or things we require, right? That's low commitment or we can sell our creations,

right? Those are the things we can also do. But basically in an online business, the easiest to get started doing is going to be the sell information. I'm not saying it's going to be easy, I'm saying it takes, it's the easiest to build a system and to find a connection to the marketplace. Now, I will say this, if you understand a system and you understand how to acquire things and how to sell them,

and your system helps you to generate more profit, that is a more viable way than selling information or selling creations. So basically it's basically how you want to do it is the best way. And again, it's all about the system. Creating profits faster than you can spend them. The same thing is gonna be true to selling your creations. Some people can create things.

They go to sites like Etsy and Amazon Home Handmade and other places, and they're able to sell their creations pretty fast. They're able to generate profits pretty fast and it makes it worth it to not sell things. It makes it worth it to not sell information. If you can create something that will give you profit faster than you can spend. Let's talk about selling information.

When you sell information, what are you selling? You selling your expertise. That's basically what you're going to approach the market with. You know, something that other people do not know, and you are going to come to the marketplace. You are going to find the area in which people want to learn something and you're going to present it to them. You can sell specialized results.

So in other words, you are able to to to help somebody to do something other people can't help them to be able to do. You understand something and you're going to promise people a result because you know, if they follow your system, they're going to get a specific result. When you can do that, you go to the marketplace and you sell that as information,

you can sell a loophole. So there's something that's gonna work temporarily. It may not work forever, it may only be working now. And sometimes when you're selling specialized results, it's going to fluctuate between that and a loophole. It's gonna pretty much look the same. There's something that you see in the marketplace other people do not see. You're going to teach people how to take advantage of that loophole and then you're going to ask them to compensate you for it.

Now again, that's a viable way to go to the marketplace if you understand it. This is what people do when they sell books all the time. You're just selling an information product. Now, obviously you can sell it as a book. It's more than more and more valuable to use, sell it as an information product. Now, in order to be successful,

you have to develop a customer list. You must develop a customer list. If you're going to sell information of any kind, whether that's a, an ebook, whether that's a video, whether that is an information product. In order to be successful selling your information, selling your expertise, you must develop a customer list. The two go hand in hand,

you're gonna do that primarily by email, but you can also do it by Facebook messenger. There's some people who do that. There are also people who do it by social media. I do not recommend that. So basically it does come back down to email. You wanna have an email list, you wanna develop a relationship with your customer list. That is how you will continually market your expertise because you're going to tell people something good is coming if they can just hang in there until you get around to producing it.

And so what are you doing? You're, you're doing social media, you're basically trying to manipulate social media to get people into your platform. Even if you decide to do social media, you got, you still gotta get people into your email list. That's basically what you've gotta do. You've gotta try to get them into that area. Now, if you're gonna sell information,

you're gonna have to develop an audience. This is apart from building websites and all the other stuff. I mean, you can get to all that stuff, the technical stuff, all of that stuff can be done, but you need to build a list. You need to turn that. Listen to an audience of people who listen to you and listen for you.

That's what a list is. Now, if you're gonna have a profitable subscriber list, you must have a subscriber list of people that are listening for you. It takes a long time to do that, and sometimes it might take a lifetime of doing that. But basically you are trying to work with customers who eventually you want them to get to a certain day in the week,

they haven't heard from you and kind of feel like, well, hey, you know what, where is, you know, where is she or where is he? I haven't heard from them. That is what you want to do in building an audience. Not everybody can do that when there's so much noise and so much information being done. That is your goal as an information marketer.

Develop an audience so that people miss you when you're not there. Now you can develop an audience base solely on your content and your products. So in other words, you launch so regularly or you create content so regularly when someone does not see it, they start to miss it. They expect it. Now, what are the best ways that people to get your products and to,

and to get them to, to see them is to develop alliances. So in other words, you're gonna be developing affiliate relationships. You're gonna develop joint venture relationships. You're going to get access to other people's audiences. That is how you build a list very fast of people that you didn't have access to. There really are only other few ways that you can build a list quickly.

Number one, you can advertise for it, but you've gotta get those people in order to want what you have and you're gonna meet them cold. You can also get other people to send you their audience and to make a recommendation that is the most efficient way of building a list. There is no other way. Now here's the thing about doing that. You're gonna have to make it worth a person's while to send you traffic.

That typically means you're gonna have to put a product together that you know is gonna sell to their audience. Because if you do that, they will send their messages to their people on your behalf in hopes that those people are gonna buy what it is you're selling. And then every time those people buy what it is you're selling, you are automatically gonna be adding them to your email marketing list.

That is how you build your list. By selling, basically the process is you're getting other people to send the traffic. Even if you have to pay those people a pretty high and exorbitant commission, that is not as, as important as getting those people into your world. And you are working with other people with whom you're developing a relationship to send those people to you.

So if right now you're an in the line business or you are just getting started, you're thinking where are the people gonna come from? One of the things you're going to have to do is you're gonna have to find the relationships in your specific sub niche. You are going to have to find the people who have list of people who email those people. You're going to have to talk to those people so that they have an incentive in order to give you access to that list.

You might want to. Now, you know some people, they will go and train those people, but typically it's gonna be, you wanna make sure that, that that list holder is gonna get some financial compensation for sending his people over to something that you're doing. Why is that? Because one of the simple reasons is every time that that person sends out an email and they send that person over to someone else,

some of the people that work that work with them, they're gonna get offended. They're gonna get off of their list, so they're gonna lose subscribers by sending people over to you. So you've gotta make it worth their while, and you've gotta do that continually. And so this is part of what it takes to sell information. All right? So let's talk about selling other people's information.

Basically, this process helps you to generate income and you're not gonna have a a following. So you may not have a business, you may not have a following, and all you're really trying to do is to sell the products of other people. They're people, that's all they do, right? Whether or not those products are physical products, but typically,

if you're talking about selling other people's information, they're looking for a customer base that's going to be interested in buying those information products. Now again, long term you still want to develop your own information products, but because information products, in terms of their sales commission typically pay 50% of the sales price, it can be a way that you can generate profits faster than you can spend them.

If you can find the audience to sell that information, other people's information can be a viable way of running an online business. Now, here's what your success is based on. You'll be successful if you understand your audience because you're going to gonna bring the kind of products in front of your audience, and you're only gonna bring the kind of products and people in front of your audience that you know they're going to feel good about and that they're going to actually make a purchase from,

right? So it is one way of being able to generate income by earning a sales commission, but this is something that cannot be episodic. You, you have to commit to this in order to make this part work. What you're trying to do is you're trying to look for different people who are doing product launches, and you, you're looking for opportunities to participate in that product launch so that when that person launches a product,

you're going to, you're going to send messages to your audience and you're going to be looking for them to make purchases so that again, that sales commission is gonna be part of yours. Now, the question's always gonna be how you're gonna move from affiliate marketing to being sustainable, right? So that, that's always gonna be the question, and the really,

the only way to do that is you're gonna have to be able to give that audience that you've built what it is that you know, they want to help them to cr to help them to achieve the success they want in specific area. So long term, there, there are people who do this. There are people that all they do is sell people's information.

However, the only way to sustain this is to eventually sell something of your own to those people with whom you are selling information. Once you determine where you create value, as I said, I mean, you're gonna have to create some kind of audience. And so some people do this the other way around, and you've probably seen them, you might see people on maybe YouTube and you might see them on Facebook Live and you'll see them and they've got a nice size audience.

They're on Instagram, they're on social media, and you'll see them and you know, they'll, they'll be selling t-shirts and mugs and cups and lots of, you know, lots of really cool things. I think you understand fundamentally. So all you're gonna sell is merchandise. Gotta sell a lot of merchandise to be sustainable. So, so yes, it's good to have a big audience and a good audience will help you to make sales,

but you wanna understand the value you provide before you start building a big audience. And so this is actually doable once you understand what you're actually gonna sell to the audience. So in other words, you may not necessarily sell a product, but basically you can sell your audience. When you build a big audience, what you're basically doing as an online business owner is you're going to sponsors.

You're saying, Hey, I know who your demographic is. I've got that audience. What I'm gonna do is I'll give you access to that audience. And so the problem with that is, if you've got an audience and you've built a brand, you might have to make changes to what you're gonna be offering. And so you, you've gotta be really careful about how you build an audience and what it is you want to sell and how you train the audience expects certain things from you,

right? When you start talking about merchandise, as I said, that, that's gonna be secondary. What you've gotta do is you've gotta have an audience, the audience who's listening to you for you, and you're going to sell them the high value activity and product that only you can deliver. So long term, the answer is always, it's always to develop some kind of offer,

some kind of product where you provide some kind of the unique value. And obviously, you know, as you keep track of that list, which you're trying to do, is you are basically, basically working with an audience in such a way that they inter interweave in and out of your email list. So what is your job? What are you trying to do every day?

Basically you're trying to serve that customer list. That's how you sustain anything you're trying to do. I mean, you can develop an audience with YouTube, you can develop an audience with podcasting, you can develop an audience with blogging, it doesn't really matter. You can develop some combination. The content is what you're gonna be sharing on social media, but as these people become part of your customer list,

your job is to figure out what it is they want to buy in order to get to their goal. So again, it, it's not just that you're, you're looking to try to figure out what's gonna be selling. You're trying to figure out how do I serve the people that are sticking with me? And so you gotta move in that direction. And so every time that you,

you know, you're gonna have different periods where the, the audience is gonna kind of tell you they're, they're going to tell you by what they're interested in. They're gonna tell you by the kind of things they tuned into. They're gonna tell you by opening up certain emails. They're gonna tell you, by attending certain training, they're gonna tell you what they're interested in.

That's an indication as to what they may wanna purchase. You've gotta move in that direction. I'm not saying that you gotta turn everything into, you know, what people are saying in surveys. What I am saying to you is you build an audience out of that audience comes a customer list, you listen to them, you watch them, you move in their direction.

That is what you're doing as an information marketer, as a, as an online business owner. You're selling your expertise and you are moving in the direction that your customer list is telling you that they want to move in. Again, do not make decisions based on surveys. And people don't always even know what to put in the survey to tell you surveys are fine,

but, but, but your observation is the very best thing in terms of understanding what the market wants and what they will take from you. What is the goal to all this, right? So what is your goal? What are you trying to do? What's going to make this a sustainable business? You need people. So in other words, you're,

you're going to have to have people helping you in some way, whether or not they're affiliates or they're JV partners. You are going need to have systems. So that's what you need to gonna need to put together to make your online business work. You're gonna have to have some innovation. You are going to need to come up with something that the market does not have.

Yes, definitely you need a unique selling proposition, but every so often in order to make a business sustainable, what you have to do is you've gotta do something that's going to be a little different that the market was not expecting, but that, you know, people want because you're, you're watching them, you understand them, you're paying attention to them.

You need to have some level of implementation. One of the most difficult things about an online business is that it gives you the perception, as I said, the most important element is gonna be time. You'll have a, a way of thinking about time that you think that you can wait on something or that you can learn something and not implement it. You really don't have a lot of latitude not to implement the things you learn when you learn something and you,

whether it's something new or whether or not it's something that you know, you just, or you've always known. You really do have to implement it as much as you can because that really is an information marketing business that really is what you're selling as an online business owner. You are selling yourself and you're really selling the growth that you're undertaking. And if you can't do that on a regular basis,

then what's gonna happen is if marketing is eventually gonna catch up with you and someone lesser is going to be in your place. So basically, it's not enough to learn as an online business owner. You've gotta have yes people, you've gotta have yes systems, you've gotta be able to innovate, but you've got to be able to implement. Your goal should be,

I mean obviously you wanna make money, do you wanna make a service? Do you wanna have a following? You can do any, you can approach this any way that you want. You just gotta decide on how you're gonna create the system. Can you create a system that will create profit faster than you can spend it? If you can do that,

then basically you can decide on whether or not it's going to be a business or whether or not it's going to be a trade or whether or not it's gonna be supplement to what you're doing. It's all about understanding what the trade needs to be to you and how it's going to help you to accomplish your goals. Okay? Are there any questions? Any questions?

