27 Comments to “The Secret to Making Money Online — or Anywhere!”

1. August 13th, 2008 at 7:40 am
   Alina Popescu said

   I’d say they mostly skip steps 2 and 3. I’ve seen so many business owners trapped in product features and services ideas who forget to either make them known to their target audience or to create the irresistible buying opportunities you speak of. But if I stop and think of all the people marketing bad products and those charing incredibly little for their work, I’d say their numbers are also significant. I’d still rank those second though.

2. August 13th, 2008 at 7:43 am
   ME Liz Strauss said

   Hi Alina,
   I see many who think everyone will see what they see in the product or service they have thought through, worried over and built up. Then they’re disapointed when no one seems to care about the same things.

3. August 13th, 2008 at 8:01 am
   Katherine Reschke said

   As a business coach I most commonly see steps 1 and 2 missed out. Either the product is just not appealing to a large enough crowd of people or it is priced out of the comfortable range of their market. Or the product IS fabulous and properly priced but no-one knows about it!Luckily the latter is much easier to fix than then former - a few jvs and an affiliate program should get it out there.

   Love the simplicity in which you set out this equation. You are dead on.

4. August 13th, 2008 at 8:05 am
   Ed Borasky said

   I’d say most frequently, it’s step 1. People pretty much build what they want to build.

5. August 13th, 2008 at 8:07 am
   Michael Martine said

   Right on, Liz! Great, simple list. Step 1 is where most people screw up. They assume they have what the market wants, but they didn’t research enough. All other steps after step 1 gets screwed up become a whole lotta work for not much in return!

6. August 13th, 2008 at 8:13 am
   ME Liz Strauss said

   Hi Ed,
   Yeah, I call that the “it’s a good idea because it had it” syndrome.

7. August 13th, 2008 at 8:15 am
   ME Liz Strauss said

   Hi Michael!
   A whole lotta work that leads to a whole lotta disappointment.

   Sometimes what I also see is that people know exactly who the right customer is but don’t realize that they have no connection or way to reach that group of customers.

8. August 13th, 2008 at 8:19 am
   Michael Martine said

   Liz, good point. I see market potential everywhere but I realize that if I were to reach that market, I have to let go of the idea that I have to do everything myself and become a facilitator instead. More like a true entrepreneur/owner would.

9. August 13th, 2008 at 8:24 am
   ME Liz Strauss said

   That’s so true, Michael.
   It’s so much more efficient to “reach the reachable.”

10. August 13th, 2008 at 8:57 am
    ME Liz Strauss said

    #3 Hi Katherine,
    Yep, I’ve seen all of those . . . and if I might add one. Some folks don’t consider the cost of executing their idea makes it impossible to sell. For example, I might spend two hours wrapping the most beautiful gifts in the loveliest papers and ribbons, but I could never make a business that would pay for the time and materials I would need to do that individually for many customers.

11. August 13th, 2008 at 9:22 am
    Writer Dad said

    Perfectly succinct. I think number two is the most easily missed. There’s a lot of repetition online. It’s okay to say the same things, as long as they’re said differently (or more precisely). The above list does just that.

12. August 13th, 2008 at 9:37 am
    Karin H. said

    Hi Liz

    (Been working on my own online product, so late to the party ;-))
    Step 2, definitely, closely followed by 3. Give first, to build trust and ‘expertise’ on the very subject you have created.
    Then most creators forget to tell their prospects the benefits of the product on offer, focussed on the extra, newer, shinier features the creator (still) is.

    (Hope I’ll do better myself)

    Karin H. (Keep It Simple Sweetheart, specially in business)

13. August 13th, 2008 at 10:48 am
    Kris @ Fresh Focus said

    There’s a very crucial step that isn’t listed, Liz……

    “Recharge yourself and don’t burn out!”

14. August 13th, 2008 at 11:31 am
    Cath Lawson said

    Hi Liz - That’s a brilliant way to break it down. And almost anyone should be able to follow it.

    Often, I see a lot of people putting the cart before the horse - creating a product or service first then trying to find the people. And I guess most of them would probably be better off finding the people first, then trying to work out what they actually wanted after they’d built a relationship with them.

15. August 13th, 2008 at 12:34 pm
    ME Liz Strauss said

    Hi Writer Dad,
    I think you’re going to be making those millions you wrote about. Great observation.

16. August 13th, 2008 at 12:35 pm
    ME Liz Strauss said

    Hi Karin,
    I think it will be years before anyone is late to anywhere near here. And in my experience, it’s far better to be late and on the mark than earlier and not ready showing everyone what not to get wrong.

17. August 13th, 2008 at 12:40 pm
    ME Liz Strauss said

    Yes, Kris,
    Keeping up with yourself is important to fueling a business, no question about that.

18. August 13th, 2008 at 12:43 pm
    ME Liz Strauss said

    Yeah, Cath,
    I know what you mean.

    It’s the school of “I’ve built a company, now how do I make money.”

19. August 13th, 2008 at 7:56 pm
    Todd Jordan said

    Great list and my vote is #2, though not having a product anyone wants might be a close second. Ha.

20. August 14th, 2008 at 6:49 pm
    Lindsay said

    Nice article and great blog, though I’ll argue that you’ll be more successful by building a community first, finding out what they really want, and then creating that first product…

21. August 15th, 2008 at 2:50 pm
    ME Liz Strauss said

    Hi Todd!
    Number 2 is missed so often some folks don’t even know it exists.

22. August 15th, 2008 at 2:52 pm
    ME Liz Strauss said

    Hi Lindsay,
    You’ll never get an argument from me — having the community that wants to buy and building the product for them is the best way. Unfortunately some folks need to sell and build community at the same time.

23. August 18th, 2008 at 3:21 pm
    Alex Fayle said

    What a great list! I’m printing this one out and pinning it to everything in the house to remind me what I’m supposed to be doing and forgetting about the stuff that doesn’t contribute to one of those 4 things - and the real gift is figuring out how to do numbers 3 and 4 - I’m still working on those ones!

24. August 18th, 2008 at 5:03 pm
    ME Liz Strauss said

    Hi Alex!
    Thanks! Simple things are darn hard to do.

25. August 19th, 2008 at 4:19 am
    Best Submission Sites to Make Articles Go Viral said

    I think you left out the part about working non-stop, really hard and being patient as essential components of making money online.

26. August 19th, 2008 at 8:18 am
    ME Liz Strauss said

    Hi Best,
    Sounds like you’re having a hard time. Maybe working for hours at a steady pace with determination is a part. Surely patience and service come into the mix, as does joy if we’re doing what we were meant to do.

27. August 19th, 2008 at 1:07 pm
    Business Success: Is It Really That Simple? said

    [...] It doesn’t need to be complicated either. Liz Strauss has put together an easy to follow, 4 step guide to business success: The Secret to Making Money Online - Or Anywhere! [...]