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Wealthifier – Internet, Affiliate, Email and Information Marketing…Teaching You How to Make Money Online » Money-Making Basics » Do NOT invent something new!

Do NOT invent something new!

Image Copyright 2007 Elsie esq.Usually when someone thinks about entrepreneurship, they think invention…

…or the development of something novel and completely different than what’s available.

That’s the most difficult way of approaching a new business.  Unless you’ve been around the block and created businesses before and are completely comfortable with your current income, you avoid “invention” like the plague.

There’s a very simple reason for this.  The internet is not new.  There are hundreds of millions of people on it and millions of people starting businesses on it.  The very vast majority of them fail.  I can’t generalize why they ALL fail, but when many new entrepreneurs start out, they try something completely new and unproven. For many reasons I can talk about in later posts, most of these don’t pan out.  For example:

  • There isn’t a customer base, or
  • the customer base that is there doesn’t want what you’re selling, or
  • the customers that you are appealing to don’t or can’t spend money

The incredibly easy way to avoid these pitfalls is to see what SUCCESSFUL people are doing.

The safest way to make money on your own to begin with is to see WHERE and HOW the money is being made by other people.

Do NOT reinvent the wheel!  This is unbelievably important.

These days, with the incredible rapidity of change and evolution on the web, all markets are constantly validated and poked and prodded by smart and dumb people alike.  Here’s a simple way to find successful people, products and marketing:

  • Pay attention to ads on websites (or even in paper magazines) that you frequently look at.
  • Notice if they change or disappear, or remain constant.
  • Products and marketing that are working will remain for longer periods of time than products or marketing that isn’t.
  • Take the example of Acai berry, or P90x ads.  They’ve been around for years, but they’ve remained relatively constant because they’re working.  The people behind them are making MASSIVE money.
  • Look at the colors, wording and design of the ads.

The goal is not to completely mimic the successful stuff…

The goal is to understand what works and doesn’t work and reuse the concepts.

Once you have a handle on the way a method works, you can tailor it and tweak it to maximize your results.

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