ScottFox.com - Internet Riches - e-Riches 2.0

Damn right that "these results are not typical"!

Do I really believe that you can make money online?  Yes, I do.

Do I think that the FTC is babying you when suggesting that everything be labeled "these results not typical"?  Yes, I do.

Do I have some insight and excitement to share with you that can help you succeed online?  Yes, I do!

Check out this quick video clip from the latest episode of the Scott Fox Online Marketing Show to see why it's my mission to keep YOU from being "typical", too.

What do you think?
Are you striving to be just typical?

Join me LIVE on Tuesdays and Thursdays at 2pm ET (11amPT/7pmGMT) at www.ScottFoxShow.com if you'd like to participate in discussions like this one!

Robert Kiyosaki Cash Flow Quadrant Book Review by Scott Fox (Video)

Here's my video book review of a Robert Kiyosaki book.  But it's NOT his most famous book, Rich Dad, Poor Dad.

Have you heard of Robert Kiyosaki's Cashflow Quadrant? I like this book even better than Robert's mega-bestseller, Rich Dad, Poor Dad. I like it so much that I included a big quotation from it to introduce Chapter 9 of my first book, Internet Riches!

Watch this short video to learn the difference between being an entrepreneur (self-employed) and true Click Millionaire success as a business systems owner.

Please let me know what you think of this book review?
Do you read Robert Kiyosaki's work and what do YOU think of it?

[If you liked this video, subscribe to my channel at YouTube here.]

Ask Scott Fox? Win my new book!

Do you have a question for me?  Can I help you with your online marketing dilemmas or e-commerce strategy questions?  Send me a question!

One of my New Year's resolutions was to shoot and share more videos. I'm off to a good start with some video testing I've been doing for a new "Scott Fox Show".

This is good news for you because an important part of this new show I'm testing is the opportunity to answer more reader questions LIVE.  This new "TV show" format will let me give you longer, more detailed answers than I can in my blog, so I hope you'll tune in.

To email me a question, please visit this page:  http://www.scottfox.com/ask-scott-fox.html

Win e-Riches 2.0: Next Generation Online Marketing Strategies
Plus, everyone who asks a question is automatically entered into a drawing to win a copy of my latest online marketing book, e-Riches 2.0! 

Send me a question here now- and then please join me LIVE on camera at www.ScottFoxShow.com on Tuesdays and Thursdays at 2pm ET (11am PT / 7PM GMT) for your answers!

Ask Scott Fox: 3 Ideas, Where Should I Start?

Scott,
Thank you so much for your books I've read both of them.
My purpose in emailing you is to seek your advice on my dilemma.
I have three website ideas: 
         1. A personal keepsakes product
         2. A new investing concept that I’ve learned 
         3. A career advice site (the least important one)
I’m not sure where to start! What do you recommend to help me prioritize?
Thank you,
Jay
Click Millionaires Member
Pharr, Texas

Scott Fox’s Answer

Hi Jay,

Nice to hear from you. I hope that you are enjoying your Click Millionaires membership.

Your ideas all sound viable to me – but that’s part of the problem, isn’t it?

Most people have multiple ideas, some they love and some they feel that they “should” pursue because they seem to be more likely money-makers.

I would focus on the one that gets you most excited. I know that sounds simplistic but you are more likely to be passionate and energetic in the pursuit of topics that excite you personally.

Oddly enough, that usually means discarding (or at least postponing) the “money-making” idea(s) in favor of the ones you truly want to pursue.

After all, why create a new job you don’t like when the point of online entrepreneurship is to do something more fulfilling?

To me that suggests walking away from the career advice site (because you say yourself it’s the “least important one”) and focusing on one of the others.

There’s big money in anything that can help others make money, so the new investing idea sounds most promising financially.

But the gift concept is so different from that I’m guessing that’s your more personal interest?

If that’s correct, I would start there. You have obviously already thought about this enough to believe that it has business potential.

By narrowing your focus to that one idea (instead of the distraction of 3), and letting your personal enthusiasm loose, I expect that is the winning strategy for you.

If you’d like to pursue this strategy conversation, or focus more on one of the ideas specifically, please post some questions in the Ask Scott Fox section of the Click Millionaires Forum. That way you’ll get not only my advice but helpful input from other members, too.

I look forward to hearing more!

Best,
Scott Fox

p.s. If you want more personal and private coaching, Private Coaching Calls are available in one hour blocks through the Scott Fox Shop, FYI. (And Click Millionaires members like you get a 20% discount, too!)

Disclosure Reminder

The FTC would like us to remind you that Scott Fox, The Liminal Institute, Click Millionaires, and associated persons or businesses may have content, promotional, advertising, customer, consulting, or equity relationships with the entities discussed or recommended on this web site. Many of the links on our web sites and in associated materials contain affiliate advertising codes, for example.

While efforts have been made to identify the best suppliers/vendors in each of these areas, we assume no liability for your use of them. You should use your own independent judgment to evaluate their services and fit for your needs.

Please see the Legal & Disclosures section for more details.

Marks, graphics, and names are property of their respective owners, as appropriate.

Internet Riches Made Easy - NOT!

My best-selling book is the original and best guide to "Internet Riches".  Even if you don't have much money or technical training, my book, Internet Riches, can help you understand e-business and get started making money online. 

But my Internet Riches book is NOT an "easy" get-rich-quick e-book, audio training course, special report or any of the other "get rich quick" products that are floating around the Web these days. 

In fact, it's my opinion that some of these "Internet Riches Made Easy" type products are SCAMS trying to profit from the success of my book, Internet Riches, by copying the name!

A Warning to My Readers
Please don't purchase any products with names like "Internet Riches Made Easy".  These are not written by, endorsed by, or affiliated with me in any way.

If you are looking for the real deal, the truth about how to make money online realistically and ethically, it's Scott Fox's real book, Internet Riches.  Published by a "real" publisher (The American Management Association's AMACOM Books), the latest paperback edition of this best-selling book is a great deal for only $12.56 at Amazon.com, and is also available at BN.com and in bookstores worldwide. 

That's what you're looking for - not the imitators or scams with confusingly similar names and much higher price tags.

My books are written to help YOU get your share of the e-business revolution.  But I have to promise you that earning Internet Riches is NOT always easy or quick.  This is real life, after all!

The #1 best guide to upgrading your life online today is the one, the only, the original "Internet Riches" by me, Scott Fox.

Thanks for trusting me with your time and attention. 

Dropshipping is not the answer.

Dear Scott,
I’d like to know what the pros and cons are of dropshipping, and how you go about starting.
Thanks,
Liz
Click Millionaires Member
Cumbria, UK

SCOTT FOX’S ANSWER

Hi Liz,

People ask me all the time about dropshipping. This has gone on for years.

But as you found during Click Millionaires Video Office Hours earlier this week, I don't have a good answer about it. Thanks to your question, I finally realized why!

If you are new to online business, dropshipping is not the easy answer you’re expecting. It’s often the wrong first step because it suggests going into business representing 3rd party products before you have even locked down your own motivations and goals.

Dropshipping is just a tactic in search of a strategy. It's not a business by itself.
Dropshipping directories just give you lists of suppliers with products for sale. Those lists are only helpful if you have already determined both the customers you are targeting and the products you want to sell.

For most people I coach, I would start by not looking at dropshipping at all. Instead I recommend starting by identifying a passion, finding a target market, developing a differentiating online marketing plan, etc. All of this is work you need to do to identify or develop the best products for you to sell online.

Your resulting business model may include drop-shipped products, but it’s just as likely that your e-commerce business will sell ads, info products, or affiliate products. And even if dropshipping is appropriate for your new e-business, you should spend the time to determine how you’re going to find and convert web site visitors into buyers of those products before investing in dropshipping.

My Dropshipping Recommendation
Save the money you’re going to spend on a dropshipping “membership”. Start instead by developing the personalized e-business strategy you need to differentiate your site and marketing plans.

My first book, Internet Riches, can help you with step-by-step exercises and we can discuss a strategy personalized for your interests and skills in the Click Millionaires Forum, too.

Best,
Scott Fox

Podcast: MyWorkButterfly.com's Internet Riches-inspired Success Story

Bradi met Terry at a book store.

Terry asked Bradi about the book she was buying, Internet Riches.

The two became friends, read my book, and they used Internet Riches as a blueprint to launch their popular social network for moms, MyWorkButterfly.com.

Sound too easy and good to be true? Listen to this free podcast interview to find out!  You can listen live online using this player or download an MP3 here. Listen for great advice you can use to build your own online empire:

• The secret ingredient you can use to differentiate your business from competitors
• “Pre-Marketing” techniques that can ensure a successful new web site launch
• How to inexpensively diagnose what your potential customers want before you launch
• The free Google tool you can use to monitor your Reputation Cloud web-wide
• And more…

Thanks and congratulations to Bradi and Terry on the rapid growth of MyWorkButterfly.com!

Learn from their experience by listening to this podcast.  And check out my many other fre-e E-Commerce Success Radio Show podcasts here to learn more about online marketing, affiliate marketing, Facebook promotions, public relations, Click Millionaires, SEO, and more! 

Video: How to Beat the Competition Today

You're probably worried about the competition. Especially if you are starting a NEW e-business, the competition may already have you running scared.

It makes sense to respect your competitors, but there's less reason to fear competition than ever before. 

How to Beat the Competition Today 
This 7 minute video shares my thoughts on how you can re-evaluate the competition online, reinvent yourself and your online business, and beat the competition by differentiating your e-business starting today.

 

 

This video clip is from my private Click Millionaires coaching forum.  If you'd like more e-commerce strategy and personal advice from me, Scott Fox, check out the limited time Free Trial of Click Millionaires here.

What do you think of this video?  How much do you worry about the competition?  Do you agree with my analysis in the video?  Please let me know in the Comments.

[If you liked this video, subscribe to my channel at YouTube here.]

Make Money Expo - San Francisco 11/7

Want to learn a lot about making money in just one short day?  Join me at the Learning Annex's "Make Money Expo" in San Franciso on November 7!

With more than 60 speakers (including a keynote by Suze Orman), this conference should be a lot of fun and educational, too.

The Make Money Expo's focus will be on "Recession Proof - Income Generating Business Opportunities".  So expert panels will be offered on franchises, inventions, import/export, working from home, and (my favorite) online marketing and entrepreneurship.  There will even be a Venture Capital Pitchfest with $10,000 awarded on the spot to the best pitch!

I'll be speaking on 2 panels at the Make Money Expo - Using Social Media to Jumpstart Your Business and How to Start a Successful Business Online.  It would be great to see you there! 

(The first Make Money Expo was held in New York in April.  It was a huge success with over 7,000 people showing up.  Grab your tickets for this event today!)

Ask Scott Fox: What's the Best Business Model for my new Blog?

Dear Scott,
I have figured out a great niche for my new blog.  Now I am wondering how to make money with it.  What is your advice about finding a business model for my new blog?
Thanks,
Randy
Click Millionaires Member
Silver City, New Mexico

SCOTT FOX'S ANSWER

Hi Randy, 
Here's how I break down the best business models for a new web site or blog:

* Product Sales: Selling your own products is what you would want to move toward because the profit margins are highest. However, right now you’re likely to be busy just building the site and attracting traffic, so developing new products is probably not the easiest place for you to start.

* Subscriptions: Recurring revenues are great but require a pre-established credibility with a sizeable audience and/or an already developed product. So probably good eventually but not right now when you are new to the niche.

* Advertising: There are roughly two types of ads for a new web site: Adsense-type Pay-per-click Ads and Affiliate ads. (I'm presuming here that you don't yet have enough traffic to attract direct advertisers or sponsors.)

Google Adsense-type PPC text ads are free to get and "copy & paste" easy to add to a new site. They pay small amounts but can add up if you get a lot of traffic. Since you have a relatively new site/approach, however, you’re unlikely to have enough traffic to make real money from Adsense ads yet. 

Affiliate ads are probably your best bet for a new blog.  This is because they allow you to sell proven, name-brand products but require no capital investment or product development time/energy/money. Plus, they can offer much larger commissions per sale than typical PPC text or banner ads deliver.  Affiliate ads can help you turn even a small audience into significant revenue.

So I would focus on finding affiliate program offers that are highly targeted toward your intended audience. Don’t just put up run-of-the-mill affiliate offers for web site hosting or Amazon books. Find products/services that really speak to the needs (not just the interests but the NEEDS) of your audience.

Try digging around on CommissionJunction.com, ShareaSale.com and Click Bank to find unusual offers that your visitors won't see everywhere else.

Then figure out what content you need to have to position those ads for maximum effect both with site visitors and with SEO positioning. Writing reviews of products can be a great way to combine content with promotion that also helps the visitor, for example. Maybe you can differentiate by doing reviews on video or via Twitter, too.

If you have my first book, Internet Riches, I would point you to the discussion of TrafficMatt.com in Chapter 4. His approach of using product reviews has been very profitable and might apply nicely to your niche, too.

I hope that helps!

Best,
Scott Fox

What do YOU think?  What business models do you think are most appropriate for Randy's situation?  Please share your thoughts in the Comments below?

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Would you like YOUR questions answered?  Join my Click Millionaires
e-commerce and online marketing coaching community like Randy did! 
Visit www.ClickMillionaires.com now for a Free Trial.

My Easy 10 Question Free Business Plan Template

Last week in my new Click Millionaires Forum, a member named Tony asked me for a free business plan template recommendation.

My response? Most entrepreneurs spend way too much time on writing business plans. I’d rather see your creative energy invested in product development or marketing, things that will directly lead you to more revenue.

So I sat down and thought about all the business plans that I’ve written and seen over the years. I think that they all boil down to a few basic questions that apply to any startup business.

My Free Business Plan Template for You
Here are my Top Ten questions I think are most important for you to answer when starting a new business. You can use these to focus your thinking and to impress potential partners or investors (like your spouse!).

This basic business plan template doesn’t cover everything, but if you can answer these questions solidly, you are on your way. (Conversely, if you spend much time beyond answering these fundamental questions, your business planning process may be too much.)

Scott Fox’s Top Ten Business Plan Template Questions

1. Who is your target customer? Be specific.
2. How does your product or service solve a problem for them?
3. Will your solution to the problem be unique and valuable enough that these customers will pay you a good price for it?
4. How can you reach this target audience cost-effectively?
5. Will satisfied customers naturally tell others? If so, how can you encourage them to do so?
6. How much time and money can you afford to invest in this new business before you need to stop? (Set a time and money cut-off.)
7. What will it cost you to get started? Why? How can the Internet reduce those costs?
8. If you make conservative assumptions about the number of people who buy, and how much it costs you in both time and money to sell to them, can you make enough money to achieve your goals?
9. How can you differentiate yourself from the competition?
10. What are the 3 key assumptions you are making that are required for you to succeed? Are they reasonable and probable? If not, what could you do to change them?

Bonus Question: How can you systematize your new business so it takes proportionally less of your time as it grows but makes as much or more money? (Creating a business that will grow without you can lead to a true Click Millionaire lifestyle!)

[Note: These questions are for a solopreneur considering starting a new venture. If you are planning a larger venture or looking to raise money from investors, you’ll need to be a lot more thorough, especially with financial analysis.]

An Easy, Instant Business Plan!
If you can write just a couple of solid paragraphs answering each of these questions, you will be well on your way to creating a respectable business plan, as well as clarifying your own strategy.

Don’t fall victim to “analysis paralysis” by over-indulging in business planning. I recommend emphasizing “doing” over “planning”. It pays the bills much better!

What did I miss? Please let me know in the Comments below if this business plan outline is helpful to you?

If you would like more details and follow-up conversation about my simplified approach to writing business plans, please join us in the Click Millionaires Forum!