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[Guide] Business 101

Discussion in 'Making Money' started by JoeMongan, Jun 21, 2014.

  1. JoeMongan

    JoeMongan Jr. VIP Jr. VIP Premium Member

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    Business 101 ? A guide to business

    Introduction

    This is not a guide to teach you how to make money fast or slow, rather this is a guide to show you how to operate a business that Is successful, rewarding, and drama free. You know how many people come into our corner of the internet and say ?How do I make monies online!?? when in all actuality they should be asking ?How do I operate a successful business?. If you are an accomplished business person on the forum and know the ropes then this is probably not for you, however if you continue then great.

    If you are reading this you probably are a couple of things:

    • You want to make money online and free yourself from the 9-5 routine.
    • Never really ran a business, at least on a large scale.
    • You need start-up capital to start or you would like to start without investing a penny.
    There is absolutely nothing wrong with being those three things, however you need to overcome them and forge your business from the ground up. Let?s focus now on key problems every start-up faces and how you can overcome them. On a side note for those of you who don?t know me I started out pretty much just like you online, however I did have one key advantage in my arsenal, prior business experience. So let?s get started!

    Take action in only one industry

    This was my big mistake in business. I spread myself to thin and never capitalized fully on one industry at a time. People will tell you not to put all of your eggs in one basket. I am here to tell you to put all of your eggs in one basket to start. After you are successful in one industry and are able to generate cash flow you can focus on diversity. So the key point of this step is to focus on one thing and do it well. Then diversify later.

    Liquidity, You need it!

    What is liquidity? It is a term to describe cash flow management in business. Ask any start-up agency or venture capitalist and he will mention liquidity as a main aspect of running a successful business. If we take a brief moment to look back at our last step you can see why I told you to put all of your eggs in one basket, and one reason is you do not want to stretch yourself to thin. Odds are you have little start up cash and I am not talking about $10 in your pocket. Even $5000 is little in the scope of business. Sure it?s a great start and you?re lucky you found this forum because it?s enough to bring in a residual income.


    Now we are going to go into some of the basic principles of liquidity and how you can start from zero. I have formulated this as a question and answer style format to make it easy to understand.

    Q. Can I start without any money?

    Yes, you don?t need a bank loan to get started in Internet Marketing, but do not be fooled. If you do not have investment money then you need a skill like logo design, programming, video creation, and so on. These skills will lead you to making the start up cash flow you need to reinvest.

    Q. How can I make quick cash for start-ups?

    First, you need to understand that you need some money to do anything. Fiverr is a great place to start. I personally can attest to being able to make money to get started on Fiverr. Many people fail at this and I will tell you exactly how you can succeed.

    1. Create a video for your Fiverr gig. You can even outsource this task to other Fiverr sellers.

    2. Buy fake reviews and order exchanges. (There are people on this forum that offer this service)

    3. Deliver your fake orders within 24 hours to be tagged at an Express service. By doing so you will receive more traffic to your Fiverr gig. You might even end up on the featured section. Fiverr utilizes and algorithm like Google so game it!

    4. In order to diversify risk you need to actually deliver some type of product to the fake Fiverr order account because there are times where Fiverr will manually review you!

    Handling clients and complaints

    Shit happens, and even the best of us might find ourselves on the shitlist or dealing with a bad review on any marketplace platform. It?s not a big deal that this happened unless your attrition rate climbs to high. If that is the case then maybe you should remodel your business. Look at this as your time to shine and be the morally based company that people feel safe to do business with. Thousands upon thousands of dollars are transferred from one hand to another online under pseudonyms. Rep is everything and stars and stripes don?t mean shit, but handling a complaint right can make people have confidence in you therefore wanting to do business with you.

    Here is how you do it and this applies to the shitlist:

    1. Do not break communication. This shows a lack of respect for clients and will paint you in the light
    of not being professional.

    2. Leave emotion on the table. Its just business so handle it accordingly. I promise swearing at the staff our client is not the way to go. Take a break from it all for a little while if you need to.

    3. If you can help it take care of the situation before it ever escalates to this point. I am not telling you to lube up and bend over every time someone has a complaint. Be firm, respectful, and if it comes down to it refund them. Most of the time it?s not worth tarnishing your reputation unless you can prove its buyer fraud.

    Building contacts


    Contacts are everything in business and it will surely make you or break you. Start building relationships with people and let them know you are more than just a robotic sentiment on a forum. Behind the username is a person so act like who you really are. That?s why the BHW conference dubbed ?In real life? is a huge advantage to every business in this industry. It?s a chance for all of us to come together and break bread. Really it?s all about networking. To be honest I have several Joint Ventures going on with members here and not only do you attain a new perspective from each of them you have a new opportunity to bring home the bacon.

    I would like to sum up his guide by saying success it out there in this world. Its waiting for those who seek it. Opportunity does not come to you. Matter of fact you create the mixture of opportunity by having a skill set, liquidity, contacts, and a good grasp on business.

    Carpe Diem,
    -RK
     
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  2. nikchaing

    nikchaing Jr. VIP Jr. VIP UnGagged Attendee

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    Very nice tips in there, especially about Fiverr :cool:
     
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  3. JoeMongan

    JoeMongan Jr. VIP Jr. VIP Premium Member

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    Thank you Nikchaing. I am glad you found it useful.

    -RK