This is a quick guide to understanding the essential elements of starting a successful work from home business.
I will very briefly cover the following elements in this guide:
Essential elements of accounting
What Do I Need To Know?
I am assuming this question will get asked a lot because people just don’t understand the simplicity of starting your own work from home business utilizing affiliate marketing as a basis for revenue.
Affiliate marketing is sometimes referred to as referral marketing. Both forms of marketing use third parties to drive sales to the retailer. However they are different. The main difference between them is that affiliate marketing typically relies purely on financial motivations to drive sales while referral marketing relies on trust and personal relationships to drive sales. Since I firmly believe that trust and building an authoritative relationship is extremely important to succees I say that affiliate marketing will not succeed without adopting a combination of both affiliate and referral philosophies.
Now, just what does that all mean and what do I need to do?
I guess what I am eluding to is that although this business may seem simple, what we don’t understand can hold us back or even defeat us before we begin if we don’t have a network of support and training.
- I knew I would need some form of education; whether that be trial and error or formal instruction of some sort. This is where Wealthy Affiliate University shines in my eyes. An excellent source of training at a fraction of the cost of a college education. I guestimate it probably takes the average person about 6 months to go through all the material available on WA’s training program to become comfortable with the processes involved with creating an authoritative position in any given venue or niche. This certainly is less time than it would take to learn by trial and error and far more thorough. Learn more about WA training here.
- I will eventually need to invest something:
There ain’t no free lunch.
Obviously “Time Is Money” so aside from what I consider as “tuition” ( the training at WA is pretty cheap tuition, in my opinion) you need to set aside the time to become educated until you reach a point where you can begin to see a steady income.
- Good bookkeeping is essential to the success of any business so it goes without saying that you should have, or acquire, a basic understanding of accounting and money management. Having worked with Quickbooks for 20 years as well as performing installations and support for many customers I have become a true believer in the benefits of this product. I believe it is an essential part of any small business success.
Aside from these important ingredients, success is determined pretty much by how creative you can become in your program development and how much of a customer base you attain as you become an authority within your chosen niche. The rest will take care of itself and income will follow. I can not emphasize enough that this is by no means a get-rich-quick scheme.
With that, I wish you the best of success and I will be here every step of the way to help you attain your dreams.
Good Luck and I’ll see you on a beach someday.
Affiliate marketing is hot; here’s how to get your program going. Nearly every retailer in the Internet Retailers’ Top 500 has an affiliate marketing program. Now free affiliate networks, automation software, and pay-for-performance compensation models are making it easy for small businesses to take advantage of this marketing tool. In the popular An Hour a Day format, this guide features a detailed, real-world, task-based approach to developing, launching, and managing a successful affiliate marketing program.