Anybody serious about earning a lot of money from the internet must study the business strategies of Mark Zuckerberg (Facebook), Steve Case (AOL), Jeff Bezos (Amazon), Reed Hastings (Netflix), Jerry Yang (Yahoo), Pierre Omidyar (eBay) and a host of other internet millionaire and billionaire entrepreneurs. They have strategies which, when replicated, could make one gain plenty of money online.
What are they?
Principally they can be grouped into seven categories:
1. Recognizing a trend and seizing it
2. Starting the business from the bottom up
3. Working without a salary
4. Being innovative
5. Having a strong mission
6. Offering free services
7. Reinvesting the income in the businesses.
Now, let’s look at the strategies:
Recognizing a trend and seizing it
The internet millionaires and billionaires did not just become rich. They were prepared for it. This preparedness enabled them to seize the opportunity when it struck.
When these guys started their businesses, the internet was just a fad. But recognizing its potential, they set about harnessing it and their foresight paid big.
If you want to make money online too, you must be on the lookout for the trends; then accept the change and use it to advantage. This is what sets successful entrepreneurs and their average counterparts apart.
But know that there are no shortcuts to business success. What is needed is hard work and the right positioning. In this way if opportunity knocks, you can know and grab it.
Starting the business from the bottom up
We all know that wealthy internet entrepreneurs such as Mark Zuckerberg, Jeff Bezos and Larry Page did not start rich neither did they gain money on the internet overnight. They started small, from the bottom and worked their way up. You are permitted to dream big but if you don’t have the means and if you don’t start where you are, you are never going to get anywhere.
Remember: Mark Zuckerberg, Larry Page, Jerry Yang, David Filo, Sergey Brin, etc. started their internet businesses from the dorms of their schools. Jeff Bezos even started Amazon from his garage.
Now, is it the idea which worked for them? No, says Mark Cuban. According to him if it were the ideas everyone would become rich since everyone has ideas. The winning streak was the homework which enables to know if the idea would work in a particular industry. Then preparing oneself to work the idea into reality.
In other words, when these internet millionaires and billionaires got their ideas, they did not wait for a big investor before putting them into practice. They started with their meager means and kept going till they made money on the net.
Are you prepared to do the same if you had a genial idea? Of course you must, if you want to win money from the internet too.
Working without salary
Another quality to learn and practice is the ability to sacrifice. Mark Zuckerberg made it clear that he and his colleagues did not work for the money. What was important to them was that they had created an information flow for people.
You too must be prepared to work for free for your idea in the startup stages of your internet business. Like those millionaires and billionaires, don’t worry at all if you are not receiving a dime. Like them, concentrate solely on developing your business idea and keep on sacrificing for it. Success will surely come one day. This is akin to not killing softly the hen that lays the golden eggs.