If you are like most people these days then you are probably looking for a way to make more money. Whether your full time job isn't paying enough, your significant other was laid off work, or you have a few financial goals you want to achieve, it is possible to make more money with a part time internet business.
The challenge most people face when starting a business is finding the time to do the work. They come home from a full time job to full time family responsibilities and finding space in between to work a part time business opportunity seems impossible. However, if you make good use of the time you have and implement the following strategy you can generate a dependable source of income with a part time internet business.
It's All About Creating a System
The secret to building a successful business in your spare time is to develop a system that finds prospects, convinces them to purchase your product or sign up for your opportunity, and processes their investment with as little input from you as possible. It's about taking advantage of the many tools available for automating your business to attract people to and get them through your sales funnel.
A sales funnel is a systematic approach to the sale of a product, service, or business opportunity. It separates the journey your prospect takes from when they first hear about your business to when they make a purchase into several steps. It is called a funnel because you will usually begin with a lot of people (say 100) showing interest in what you are selling but you only end up with a few who actually make the commitment (about 2-3%).
It looks something like this:
1. Identify Opportunity or Product (100 people)
2. Initial Communication (50 people)
3. Solution Evaluation (20 people)
4. Negotiation (10 people)
5. Sales Order (3 people)
Each business will have their own unique sales funnel but they all follow a similar pattern. If you want to maximize your time and build your part time business to profitable levels, it is a good idea to identify the steps your prospects need to take to get through your sales funnel and then find ways to automate as much of that as possible.
For example, step number one is where prospects have identified your product, service, or business opportunity as a possible solution to a problem they are having. Rather than setting up appointments to talk to each individual person, you can have a page on your website detailing the benefits of your product. Most of the people in this stage won't be a good match for what you are offering and it doesn't make sense to spend all of your time talking to people who are not in your target market.
Tips for Setting up Your Part Time Business System
As you can imagine it will take some effort when you first start your part time internet business to get the system in place. However, once you have it set up your workload will be drastically reduced. This will allow you to make money even when you are not actively working your business. Here are a few tips for setting up a system for your part time business.
* Look for tools that will help you automate the bulk of your marketing. For example, everyone is getting into social media and using Twitter or Facebook to find and funnel prospects to their websites. There are several tools, like Pluggio, that allow you to send preprogrammed updates to your profiles. You could spend a few hours setting up a month's worth of automatic updates. However, don't forget to log in once in a while to respond to message from other members on the site.
* A blog is a great way to provide prospects with the information they need to make a decision about whether they want to buy what you are selling. The main benefit of a blog is the fact that the information remains on the site selling for you 24 hours a day even when you are not online. I found a quick and easy way to get a blog set up as well as content to fill it.
* If you are selling a product or service, have a payment processing system built into your website to avoid the need to process payments manually each time someone places an order. PayPal is a popular shopping cart. There is also software, like OSCommerce or ZenCart, which makes creating a shopping website quick and easy.
* For those that are recruiting for a business opportunity, make sure the network marketing company you are signed up with has a sign up form that automatically places people into your team when they sign up through your website. Most companies are advanced enough to do this. If your company is behind the times then you may want to rethink your affiliation with them.
* Take full advantage of email marketing programs that allow you to build lists and automatically send sales letters or newsletters to those that are signed up. Email marketing is a great way to stay top of mind with your customers. Many online programs, like Mail Chimp and Constant-Contact, have auto respond options where you can spend a few hours uploading your letters and program them to be sent out at specific times.
Setting up an automatic sales funnel is the key to creating a part time internet business that generates dependable income while freeing up your time.
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