| > | | | | The Customer is the boss. This is the most basic |
| I know you've seen the advertisements. They are | | | | datum of all. Any companythat has poor customer |
| everywhere that you look:newsgroups, email | | | | service or loses sight of this basic fact will, inthe |
| signatures, web site articles, press releases and even | | | | short or long term, fail. For example, if your customer |
| inyour own inbox (in the form of spam). It can be | | | | wants a refund,then give it to him, no questions |
| especially overwhelming to anewbie (someone new | | | | asked, with a smile. If you find you arerefunding too |
| to the internet). You know what I mean - money | | | | much money, then check out the quality of your |
| makingopportunities. | | | | products orservices. |
| Sometimes they seem so enticing, so wonderful, so | | | | Stay ethical. Another basic datum. Unethical people |
| obvious that it justappears that someone had indeed | | | | and companies tend tofail. The more unethical they |
| stumbled on the perfect money making scheme. | | | | are, the harder they fall. You could sum thisup simply |
| And, better yet, they are good-hearted enough to | | | | as "what goes around comes around". |
| want to share it withanyone, for the small price of | | | | Venture capital is NOT income. It is a liability because |
| $19.95 (per month), $295 or even $3.95. Whatnice | | | | it usually has tobe paid back. In general, a company |
| people. | | | | should only need venture capital when itis first |
| Of course, if you think about it for even a minute, | | | | created. If venture capital is needed to keep the |
| the first question thatcomes to mind is: if the secret | | | | company afloatafter a reasonable startup period, |
| is so great, then why aren't they rich andliving on | | | | then this is a bad sign. If venturecapital is required on |
| some tropical island yet? Why do they have to try | | | | a regular basis to pay the payroll, then this is avery |
| and sell thisthing to us on the internet? | | | | bad sign. |
| Okay, so you want to make some money on the | | | | Use income from stock sales wisely. Getting an |
| internet. What's the secret? | | | | infusion of cash from sellingstock can be a great |
| To be honest, selling on the internet is more-or-less | | | | windfall for a company. BUT this is also not income -it |
| the same as sellinganywhere else. You have to follow | | | | is a windfall profit. Use it wisely. |
| these basic steps: | | | | Determine true income. You need to figure income |
| - Find or create a product or service which you think | | | | on the amount of money youare making from selling |
| may be of value toothers. | | | | your product or service. Money obtained from |
| - Figure out how to sell that product. In other words, | | | | yourcredit card does not count as income. |
| determine your marketand how to best reach the | | | | Income must exceed total expenses. Seems pretty |
| people within the market who make | | | | basic. |
| purchasingdecisions. | | | | Large amounts of debt is bad for business. Generally, |
| - Implement the method that you choose to sell the | | | | the higher your debt,the less freedom you have to |
| product or service. Usingthe internet, this could be a | | | | run your company. At some point, you become |
| store front, a web site, an ezine or perhapsjust lots | | | | aslave to your creditors. |
| of advertisements. | | | | Excellent leaders often make poor managers. |
| - Promote your product or service. | | | | Remember to keep these twopositions separate. |
| - Keep statistics to determine if you are actually | | | | The skills required to be a leader have nothing to |
| selling the product orservice. You also need to know | | | | dowith the skills required to be a good manager. |
| if it is costing you more to sell it than youmake (yes, | | | | What's the bottom line? Making money on the |
| income must exceed expenses - that's why most of | | | | internet is the same as makingmoney anywhere else. |
| the dot comshave been failing recently: they forgot | | | | Just because it is the internet does not mean there |
| this basic lesson). | | | | arespecial rules or the law has been suspended. Also, |
| - If you are making a profit (income exceeds all | | | | just because everyoneelse has gone insane and are |
| expenses), then figure outhow to better sell your | | | | doing incredibly stupid things (the majority ofthe dot |
| product. However, don't change anything that | | | | com's come to mind) does not mean you need to |
| iscausing you to make money. In other words, if it is | | | | jump in and join thestampede. |
| working, leave it alone. | | | | The internet is a set of tools which you can use to |
| - If you are not making a profit (expenses exceed | | | | sell products andservices. Used properly, they can |
| income), then figure outwhy and take corrective | | | | magnify your efforts to incredibleheights. Remember, |
| action. Immediately and without hesitation. | | | | be smart, be ethical and, fundamentally, inflow |
| Also remember some basic rules (which many of the | | | | mustexceed outflow. |
| dot coms forgot or neverknew in the first place). | | | | |