R U Automated
The out of the Box and in the Zone Newsletter
(For people who want to stay ahead of the pack.)
March 26, 2009
Choosing a Business
(That you won't need to run...)
Does your business fit the profile for the perfect automated internet business, or will you need to broaden your scope and add a new product or service in order to hang with the big dogs? The best way for me to explain this is to share some of my experiences with you. Some of my attempts at businesses have been smart and some have been downright embarrassing, like my first attempt at an internet business.
It was about seven years ago. I had grown tired of chasing the carrot. I started reading about all these self made millionaires who had capitalized on the rapidly growing internet business world using Ebay and its many offshoots. I read about the giant e-commerce sites like Amazon.com and later, Overstock.com. I began to wonder how I could ride the wave.
I read everything I possibly could about online business and I taught myself how to design a basic Website. Then I realized I would need help if I wanted to create a Website business where people could actually place orders and make payments. I then bought an e-commerce template that included a shopping cart and payment options from a really good design company that had great tech and design support. There are a few good ones. The first few I tried were miserable to work with and way too expensive. (For more info. on shopping carts, email me at jabato@angelvalleyco.com or call me at 443-266-7171.) Next, I needed to decide what my business would sell.
My wife, Linda, had always wanted to have a brick and mortar novelty socks shop. Well yeah, I admit it. I tried it on the internet.
I ordered socks from all over the country, took individual photos of each and every one, separated them into categories and downloaded them on my new Website: “Box o Socks.” Ugh! OK, we all have some dumb ideas from time to time. But, it was a great experience that taught me a tremendous amount about e-commerce and eventually, I was able to break even, somewhat. The important thing is, it made me ask the right questions about what sells well on the internet and why or why not. For instance, if you can pick it up in Wal-Mart while you’re there, it probably will not sell well online. Women tell me they like to be able to touch and feel their clothes before they buy them. So unless they can’t shop for them anywhere else, they will not purchase them on the internet. So why does Amazon.com do so well? Because there is no need to touch books before you buy them and their customers believe they are getting a good deal. Online is still the most convenient place to buy a book. Buyers simply want the best deal.
Well if you were paying attention, there were a number of lessons in my first attempt:
- Make sure buying online is the most convenient way to purchase your product.
- Make sure you can offer your product at a competitive price. Online shoppers really shop.
- Make sure you don’t have to take millions of photos or involve yourself in tons of minutia. The idea is to be automated so you do not have to work yourself to death before you earn a reasonable income.
Overall, ask yourself this question when choosing a product or service to automate: Can I sell this product using an automated online process while relaxing on the beach?
Eventually, I lost my shirt and many socks and worked way too hard during my first few attempts at online businesses. Then I began to crave the success of the hardly working new rich. I then began to think in terms of services provided only by me that I could offer online to the entire internet community. The best online products are unique and can be sold, purchased and consumed without much work by the seller. They provide the answer to a need in a big way, and they create serious income.
Does your business or the business you are considering fit this profile? If not, stop. Think automation. If I can help you choose, email me or call me. I’d be happy to help. And, oh, by the way, I have already made many of your mistakes for you.