Getting Rich Over Night

C R Ellsworth

Nothing you learn from me is going to make you rich overnight. I’m sure you’d rather hear all about a ’new internet magic system’. Before you design your own you will have put in much more than ’overnight’. Notice that I didn’t say impossible, you may design a system that seems like magic to others. Many of the systems you will encounter may seem like magic, but the designer worked hard to design it. There are scams out there. I won’t bother with them here. It’s a buyer beware industry you are entering. Just remember, some people work well in some systems and not in others. Preparation and understanding a market before jumping in are important. There is also the problem of ’analysis paralysis’, you will find a happy medium.

If you get rich (your definition may change over time), it will be because you learned a few basic principles to keep from doing stupid things, applied those principles and above all, worked hard.

Working hard for yourself, your family & future is a joy in itself. When you know that you keep all the profit, remember you also keep the losses. So first learn how not to lose and how to keep your gains.

What you are attempting usually results in failure, (95%) within 3 years. The ones who wash out have some things in common:

1) They didn’t plan.

2) They didn’t realize they were in a business.

3) They had pre-conceived perceptions about what their home business should be like.

4) Without a plan and understanding their dream from a business perspective, their unrealistic expectations proved to be too much, too fast and in many cases founded on misconceptions.

If you went to university for 4 years and got a business degree you would be qualified to go to work for someone else who knows business. Many internet dreamers expect that they can forego an education and get ’rich’ in 6 months or 2 years by ’internet magic’. Internet magic is the process whereby money leaves your pocket and goes to someone elses, with the corresponding loss of value in your ’business’.

If you put that same energy into educating yourself and learning your business and market, within 2- 5 years you will be making more than you were working for someone else.

Evaluate your own core competencies. What are you not only good at, but what are you best at in the process of interaction with people. After all, people will be your customers. Ask yourself, your family and friends what they think. Some people are natural writers. This is good for article and ad writing. Some are natural sales people. Sales people who sell with written words can make a fine business doing just that for other entrepreneurs. Copy writing is always in demand. Some people are ’visual’ while others understand things better in audio format or by reading. Your understanding of your own abilities will give you a head start and give you some ideas on how to enhance your weak points.

If you want to learn, you must first learn how to learn. Learn your business by studying everything about the market in which you want to compete. Study your competition. Find out where they concentrate their resources; that will depend on the specific market. Advertising will most likely be a necessary expenditure.

Work methodically setting goals and attaining them. Your first goal is a relatively long term goal, ie. ’make the house payment from online income’. The more important goals are the smaller attainable goals that get you to a major goal. Expect and handle shortfalls and disappointments. I believe that if you attain all your goals on the first try, you probably didn’t set your goals high enough; (In school, 91% and up is probably an ’A’).

To be ahead of the game and to illustrate your seriousness write up an official ’business plan’. There are software programs available for this. This will be necessary later to secure business loans. Remember those goals, not just lofty goals but a real ’business plan’ with attainable goals that build steps to further goals, you may want to show some possible investor or bank the proof that you can make their money pay for itself.

(Your first 2 - 3 Years of hard work will be shown to be effective. It will be seen to be working. You won’t be ’rich’ yet; if you are, remember me.) By 2 or 3 years maybe you can be out of debt and ready to retire or quit your job to work for you. You’ll be amazed how ’rich’ you will feel not having to depend fully on ’the 40’. You will begin to envision more time with your family, longer vacations. Imagine - staying with the company you work for (or not), but taking the summer off ’unpaid’ because you can.

It really is all up to you. Plans you make early on in your ’online and/or home business’ can save you grief later and may be the difference between success and failure. There is no ’magic’ except for a feeling you may notice looking back and remembering the road to your success.

Expect a long, but satisfying ’overnight project’ and enjoy the trip.

Webmaster of informational sites and blogs since 2000

C R Ellsworth is retired from corporate america and living in the ’great northwoods’

Incorporate a business

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