There are so many types of internet businesses out there, how do you even begin to decide to start? Find out some key secrets on deciding which type of internet business to setup in this segment of an interview between Dale Beaumont and Mike Rhodes.
Two days after starting his first business, Mike experienced a minor setback when his internet café was flooded. After the water had gone, he went on to build a popular business, which he sold in 2001 and then moved to Sydney, Australia. Mike now spends his time speaking, consulting and mentoring with businesses on the subjects of online marketing and building websites that work.
What are some of the ways people can decide what type of internet business to start?
The key word in that question is ‘business‘. Don’t aim to create a short-term promotion that cannot be sustained. The Google Cash idea and other similar methods of selling online are not really businesses in the true sense. Sure they might create a few hundred dollars – maybe even each day – but they need ongoing care and attention to run. One major change in Google’s rules and your income can disappear overnight.
There’s much more satisfaction, fun and wealth in building something long term and sustainable. Kiyosaki’s definition of a business is this: ‘Can you leave your business for one year, come back and find it doing better than before?’ The only way you’re going to be able to achieve that is with a big vision, solid goals, great staff and lots of hard work. That’s why you need to be passionate about the subject of your business. It’s what will pull you through the tough times and keep pushing you forward.
So, how do you figure out what you’re passionate about? Here are some things to try:
- Brainstorm with like-minded friends.
- Create a mastermind group and meet at least once a month.
- Ask your mum what you loved doing as a kid.
- Read Unique Ability by Dan Sullivan and Catherine Nomura.
- Look at how you spend your time when you’re not working. What do you like to do for fun? What gets you excited? What can you do for hours without getting bored?
- What blogs and magazines do you like to read – is there a theme that you can turn into a business niche?
- What would you happily do even if you weren’t being paid to do it?
The last one in particular will lead you in the right direction. A friend of mine in New Zealand loves golf and wine. So he created a company that takes small groups of tourists to different golf courses for a game in the morning, then tours the vineyards in the afternoon – do you think he loves his job?
For more of this interview and information on Internet Business check out “Secrets of Internet Entrepreneurs Exposed!“.