Use These 5 Pillars To Make Money Online
Everybody wants to be rich, yet when it comes down to making something happen people go out of their way to fail.
Online you can find lots of tactics that are meant to make you a millionaire, but they are very generic and even if you follow them you will probably not succeed. Why is that?
It’s very simple. It doesn’t matter what you are trying to sell or offer online, it always comes down to the following 5 pillars to be successful.
You need to have certain qualifications in these 5 areas or have partners which know how to handle the things I’m about to list.
The pillars are:
Now I will go into detail as to what these pillars mean and what specifically it is that’s needed, but I am sure that when these pillars are there, the foundation is laid to have a very, very successful business.
Product – A good idea is not worth anything
If you can create products that your audience is willing to pay for then you have a foot in the door.
Without a product making money online is suddenly very difficult. Of course, you can generate income through affiliate marketing and placing ads on your blog and so on, but if you want to make an impactful income, you won’t get around creating a product.
You want to know how to spit out an idea that the market will accept and is ready to pay for.
Simply asking your e-mail list what they want or whether they are willing to enter their credit card details for your idea won’t suffice. You need prove.
So, set up a pre-order form where your followers can pay for your product or service. Then you know if there’s a market for your idea.
This is obviously essential. So, it’s very important for either you having the skill or having a partner with the skill to create a good product or a good service.
Traffic – If no one sees your offer, no one will buy your product
Secondly, you need to be able to drive traffic to your product.
There is a ton of traffic to choose from but getting it to your website is an art in itself. You can choose from free traffic like organic search engines, Facebook posts, tweets, and such, or from paid traffic like Google Ads, Facebook Ads, and other platforms.
You can also generate traffic through offline activities or a mailing list. It doesn’t really matter how you are able to get users to your site, but you need to be able to get the right audience in appropriate masses to your offer.
It’s the same here as well, you can either be good at any one way or multiple ways to generate traffic, or you have a partner who knows what he or she is doing.
Do not underestimate the importance of knowing how to generate traffic on your website.
Sales – Prospects need to see the value
Once you have something to offer and you know how to get it in front of an audience, there’s only one thing left for you to do. Convince them to buy.
If there is anything you need to learn, it’s writing copy. If you can sell your product to the folks visiting your website, you, my friend, have created a cash cow.
Nothing can stop you anymore.
You can learn through reading books, you can get an online or offline course, you can find a teacher, but in the end, you will most likely have to learn by doing.
And it’s again the same thing as with creating a product and driving traffic to your website. Either you know how to write copy, or you have a partner who knows how to.
I can warmly recommend that you get to know the basics at least. Without this skill nothing else will matter.
And I’m not talking about the guys out there who convince people to buy some crappy online course or software that doesn’t function properly. There’s a lot of scams to be found on the web and sadly a lot of people fall prey to them. But it just shows that copywriting by itself is very, very valuable.
Process – Can you handle the volume?
There are marketers online that will only mention the first 3 pillars: product, traffic, and sales.
I, however, am convinced that the last two pillars are equally important to maybe not generating money online but making sure that there will be some cash left in the bank at the end of the day.
So, “what’s process?”, you might ask. Well, process is how you handle the incoming orders or membership signups. At the moment, you might think that’s easy, but let me tell you from experience that nothing is further from the truth.
Should you be so lucky or savvy in the previous 3 pillars that you are able to generate cash, there is an art in processing the orders and handling your customers as well.
Please, do not underestimate the work that goes into the daily business of running a business.
If you have a physical product, you need to be able to handle shipping and customs in case you ship internationally. Also, there is difficulty of scaling when there’s a physical product involved.
If you sell something online it’s much more the process of making sure your customers are happy that will use some time and finesse.
I encourage you to learn this skill as well. Obviously, you can learn this along the way, but be on the lookout for those lessons and change course if necessary.
Business – Profit is not necessarily money in the bank
Last but certainly not least: Business.
At first that might seem a bit broad, but as soon as you generate your first $1 online, you need to make sure that you know what to do with that one dollar.
“What are you talking about?”, I hear you ask.
You need to set up multiple accounts in your bank to handle your income. It’s very easy to go with the flow and spend money that’s in your bank account on things that are neither necessary nor actually affordable at the moment. But they seem affordable, because of the current balance.
Calculate your taxes and everything that needs to be paid for around your business, including your salary, per $100 in revenue. Now calculate the percentages for these expenses and split the income into these parts and transfer them to the accounts.
That way you won’t wake up one day and realize that you owe $100,000 in taxes that are nowhere to be found.
You need to save the expenses before they are invoiced to you.
I hope you can see how this skill is maybe not part of generating income per se, but certainly part of being successful in the end.
On your way
If you can build your business onto the foundation of the 5 pillars, product, traffic, sales, process, and business, I am sure you can generate a ton of money for yourself and your family, while making sure that you don’t fall into the trap of amassing debt.
Now, stop reading and be effective and sell the heck out of your idea.
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