Tuesday, October 09, 2007

Being Relistic About Income Potential

Work From Home

Being Realistic About Income Potential

A lot of people wish to do business on the internet because they have seen the signs or late night infomercials touting that anyone with an extra 30 minutes a day can make $20,000 a month. Most people find out in short order that is very near impossible and bitterly give up. This is because their expectations were too high, unrealistic and quite possibly they were fed a boatload of rubbish.

If that same person was told that they could learn how to make enough extra cash to pay off an additional bill or too, a very achievable goal for most people, then they would have been elated with the results and not felt ripped off. Now to be perfectly honest, there are ways to make a lot of money on the internet, and there are people who are doing extremely well, but most of them have spent some time learning what works and what doesn’t. Just like anywhere else, there is a learning curve to doing business on the internet. There are also a couple questions that you need to ask yourself so that you can be realistic about the income potential of your next internet venture.

1. How many hours are you committed to putting in?: This is one of the first questions that you should ask yourself. If you want to earn the big bucks, then you will have to be willing to put in the time.

2. Is there a market for what you are trying to sell?. If you are trying to sell homemade shoes for raccoons, you might have a problem moving merchandise. Instead find a piece of hungry market and sell your wares to them.

3. How much money do you have to get your project off the ground?. There are some promotions that you can do for free to get your business off the ground. However, there will be some costs that are unavoidable, for instance, the purchase of a domain name and hosting. You will also have to eventually pay for some type of advertising or for some outsourced work. Take a realistic look at your budget when you are considering how much money you can potentially make.

4. Is your niche too competitive?: If you are looking to break into a the highly competitive market of online mortgage lending, then you might have some trouble generating leads. So to think that you are going to make a lot of money targeting this niche might be unrealistic unless you have a big budget.

5. How much experience do you have?. Because internet marketing success hinges so much on experience it is not very likely that you will begin earning thousands of dollars your first week. So consider your experience and factor in your learning curve before you start counting your millions. Give yourself a little time to get acclimated.

It is possible to earn a good amount of money using the internet. However, your experience level, your budget, the competitiveness of your niche will all be factors in how much money you can realistically expect to make. So the next time you hear about the possibility of earning $20,000 with only 30 minutes worth of work, consider the above factors. The old adage rings true “If it looks too good to be true, it probably is”.

Samantha Jane writes articles on several subjects including internet marketing and building your own work at home business. You can see more of Samantha Jane’s work at home articles on her website or search for a Home Business Opportunity

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