Let’s Talk Business—Where ‘Making Money Online’ Went ALL WRONG!
Meet Derek Gehl, an International Online Business Expert and Trainer.
In this short 3 minute video, he debunks the wrong mindset to building a business online. This teaching alone simplifies the complex—saving years of wasted effort for countless internet businesses around the world.
Derek has delivered over 275+ live presentations with audiences ranging from 50 – 6000+. He’s not the sort of guy that succeeded by selling ‘success’. He succeeded by proving that success principles in action work.
He built Internet Marketing Center to $30,000,000 annual sales, with100+ employees with offices in Vancouver, BC and Austin, TX—before selling company to private equity group in late 2007.
Today, he is dedicated to “taking the B.S. & Confusion Out of Making Money Online.” Enjoy!
Building a business online is not new anymore. If you are in business it is necessary. It is also a great opportunity if you want to accumulate wealth by: leveraging your time, scaling your revenue to a global market, and generally enjoying location freedom too.
What if properly using a platform such as the internet could cut costs dramatically, increase revenue like never before and reduce the amount of long-term time input on your behalf? What would that mean for your life?
Warning! Warning! Warning! We Have a Problem
There is a problem though: because the internet is not new anymore, the market has become increasingly noisy about what works for generating an income, and what doesn’t.
It never hurts to drive this key point home—the internet itself is not a business. We see this too often. People think that “getting online” means they are in business. Which simply isn’t true. It is like saying that walking into a shopping mall means you are in business.
The internet is a platform that allows you to run different types of businesses. Just like a shopping centres facilitate different operations for a variety of businesses. The internet is a platform with huge potential that facilitates businesses of all natures.
At Wealth Mentors, we have seen how significant it is to get this sort of right mindset when it comes to building a business online. The basics of business don’t change.
If you choose to learn the business of doing business online, you are not only learning about the internet as a platform, and how it operates and evolves over time—you are learning business. Remember that, and it’ll serve you for the long-run.
The Basics of Business Many Forget
As Derek Gehl puts nicely, “an internet business is kind of like an automobile.” There are a number of things that have to work together and be in place in order for the vehicle to run. It’s a system. It’s much more than having a great website, getting traffic, or building an email list.
It is understanding that a business thrives on the following 5 key principles …
1 – Identifying and Understanding a Need People Have in the Market.
What do people actually want? A business exists to add value in some shape or form. And the best way to do that, is to meet an existing need they have.
With the amount of choice that consumers have in the market these days, it is important to do your market research. What you don’t know is costly, and what you do know is profitable 🙂 It comes down to value and asking the question—“what would be of value to person x?”
2 – Finding a Solution that Will Meet A Need
In the short video, Derek states this clearly, “So it starts with finding the right products to sell okay so what that means is finding products that people were actually looking for where the competition is low enough …”
If people want productivity tips, what solutions might you have for them? And what specifically about productivity do they want? Is it to get to work faster? Optimize the loading time of their computer? You have to understand the niche. And more importantly what solutions are already being offered in the market?
3 – Creating a Message to Connect it with the Right People
That might mean building a website. But not just any website, but a website with messaging that is “designed to convert visitors into buyers and then once you have that website. It’s about attracting the right visitors,” says Derek.
Of course there’s multiple ways to get people to your website. Whether that is Social Media, Search Engine Marketing, Affiliate Programs or Classified Ads. But the point is—knowing which avenue to use is a direct result of understanding where your customers are looking to meet their needs. And if you did your research in steps 1 and 2—this will become clear.
4 – More Money comes in than Goes Out
If earning $5 costs you $10—is that a worthwhile investment? Not at all! It is hard to continue to sail a sinking ship!Therefore it is important to know that more money is coming in than going out. Or more money is going to come in than go out. This means making sure you understand what your profit targets are in business, and what you can afford to spend on marketing in order to generate sales. This step is amazingly profound. And involves a few other steps such as:
- Understanding the fixed cost of your business.
- Understanding variable costs.
- Setting budgets and profit targets.
- Setting break-even targets.
This is something many people in business often forget. Whether you are learning online business or not—the basics of business still apply! So take the time to learn and apply them.
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5 – Building Relationships & Repeat Business
The final part in that system is using emails to build long-term relationships to maximize the value the return you get from every customer. For example, if on average, every client you maintain a relationship with buys with you 4 times a year for 10 years—that client has a potentially large lifetime value. By using email lists or a newsletter, you can continue to communicate, interact and sell solutions to your customers. This is called repeat business.
Building an online business is a process. Once you understand the system and how to apply the basics of business, you can create an internet business quite easily. In Derek’s words, “It’s a big system and once all those pieces work together you can generate income on the internet.”
Again, it is not the lack of technology or the lack of a website that holds people back in business. It is their understanding and experience with business itself. At Wealth Mentors, we are passionate that people learn and apply simultaneously. More importantly—they learn and apply the right knowledge.
Starting out is always a big learning curve, but once you understand the system you can do it again and again and again. It is important to develop the right habits from day one as it could save you years!
Being informed about online business is empowering …
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Why We Believe Building An Online Business is Significant
Meet Cindy, a mother. She had to take care of her handicapped child at home but struggled to find the time and money to raise her child, as she had to work her day job as a financial planner as well.
The only way she could work to generate sales, was to take her child along with her in her car as she went from meeting to meeting. As you can imagine, it was really tough on her and her child. Learning internet marketing from Derek (our internet marketing and online business guru), allowed Cindy to work more from home, generate a couple of thousand dollars per month, and care for her child and family.
She applied her sales skills and her financial skills (ability to work with numbers) to earn more money online, and in the comfort of her own space. Rather than being stressed out and stuck in peak hour traffic, she created the space for the more important things in her life—family.
At Wealth Mentors, knowing we can help enable that through our partners, affiliates and live trainings—we are dedicated to sharing it with people throughout South-East Asia.
It’s what we believe makes us truly human 🙂
To your prosperity,
The WM Team