I really like point #1. So many people I talk to are excited about their idea because nobody is doing it or else they don’t want to do something because someone already is. I’m a believer that no competition is a worse sign than a lot of competition. If you were mining for gold back in the day, would you rather be near San Francisco where everyone was finding gold, or would you rather be in New Mexico with no competition (assuming nobody found gold in New Mexico)? The analogy is a little weak, but it gets the point across. Thanks for the great post, and keep up the legendary work.
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There's a lot to learn when it comes to the internet marketing field in general, and the digital ether of the web is a crowded space filled with one know-it-all after another that wants to sell you the dream. However, what many people fail to do at the start, and something that Sharpe learned along the way, is to actually understand what's going on out there in the digital world and how businesses and e-commerce works in general, before diving in headfirst.
Whether it’s an important consumer application, a specialist app to solve a particular niche problem, or even a time-wasting game you can play on your phone, you can create a massively successful business if you build software that helps people. (Look at the rise of Slack—the team communication software that went from side project to billion-dollar company in just 2 years.)
As far as earning from an online store is concerned, this is a debated topic. For instance, when this question was asked on quora, it lead to a debate where people had their own opinions, but i believe, if you make everything right, you can earn money quickly and easily through it, unlike blogging which takes time. Earning $5000 to $10,000 per month shouldn’t be a much problem.
Most people need to take a step back and understand where money is even coming from on the web. Sharpe says that, when asked, most individuals don't actually even know how money is being made on a high level. How does Facebook generate its revenues? How about Google? How do high-trafficked blogs become so popular and how do they generate money from all of that traffic? Is there one way or many?
My understanding is that you have to subscribe/pay for the business version of Word Press in order to use any of the monetizing functions. I think you should clearly state this in this article at the beginning. I think there is a degree of bait and switch here if people are just signing up for the free subscription and then finding out they have to pay for a subscription to make money. I am ok with that, it just needs to be stated up front everywhere.
Fiverr: Israeli-based Fivver was started in 2010 by Shal Wininger and Micha Kaufam. It's a great resource for selling just about any service online. You can offer gigs as low as $5 but also get paid much more for upgrades and add-ons. There are plenty of providers earning 6 figures on Fiverr so it's definitely a worthwhile cause for generating a healthy income. Just ensure that you provide some serious value.