Spending the Big Bucks

How often are you purchasing ebooks, strategy guides and software to build you IM business? Are you spending money left and right in hopes of finding the perfect internet business system? Do you have a habit of buying everything you can, hoping to find the one last piece of your profit puzzle?

If you’re spending a fortune on your business, you’re not the only one. Many IMers are on the buy-buy-buy-and-buy-some-more treadmill.

Those spending habits have a logical appeal. It’s entirely reasonable to invest in new strategies and tools to fine-tune your profitable IM enterprises. Investing in new materials to stay on top of a quickly developing industry is reasonable. However, there is a problem with running on the BUY NOW treadmill if you’re not making any money.

Buying new tools to stay ahead of the games is very different from desperately making purchases in hopes of finding base-level success.

You want to spend your money the smart way. You don’t want to spend yourself into bankruptcy before you build a real business.

Buying the Right Way

How can you avoid dumping too much cash into things you don’t really need? The first step is creating a bedrock foundation for your IM business. If you strip away all of the details, tricks, options and creative new ideas from Internet marketing, it’s a simple proposition.

You must have a product you can sell. You must have a way to sell the product. You need to bring traffic to your the site you’ll use to make sales.

That’s IM in a nutshell. All of what you do needs to relate directly to one or more of those core basics.

So, you must work to create a strong presence on all three of those fronts. When you buy something, it must directly address one of those three foundational needs.

Before you start reaching for details, tweaks, adjustments and tricks, you need to develop your core means of making online money. When you have a foundation in place, you will make money. Then you can start experimenting with new ideas and products.

Building a Smart Foundation

Getting the core of your business in place doesn’t require a massive investment. Here’s what you need to do.

  • Get a smart, big picture understanding of Internet marketing. You need to hear, straight from the proverbial horse’s mouth, how things fit together and what really works.
  • Focus on ways to boost traffic. As noted, traffic is one of the three keys to a solid foundation. It’s probably the most important of those three elements. Until you have adequate traffic, you won’t be able to find out if your products are attractive or if your copy is converting. You need to get people to your site as soon as possible.
  • Discover a continuing source of support and guidance. A smart ebook can be worth its weight in gold. Instructional videos can really help. However, developing a real relationship with a successful mentor is much more valuable than any ebook or video series. Quality ongoing coaching makes the learning curve less steep and prevents you from wasting time, energy and resources on things you don’t need.
  • Don’t overexpose yourself. You need to build your foundation without putting too much of your limited resources at risk. Find opportunities to get the essentials at bargain prices. Look for a business coaching program or mentoring arrangement that doesn’t cost more than you can afford.