There are dozens of ways you could invest in today’s world.
You can invest in individual stocks, index funds, mutual funds, IPO’s, residential real estate, commercial real estate, bonds, bank accounts, CDs, currencies, bitcoins, peer-to-peer lending, your neighbor’s private business, and so many other options.
But the best ROI I’ve ever seen has been money I’ve invested in my own business.
Nothing else even comes close.
There is a key word here though. It’s an investment.
Don’t look at your website as just another business opportunity.
It’s not like buying a lottery ticket and hoping for a jackpot.
I’ve seen people who take that approach to online business. And it never turns out well.
They jump on one BSO after another (Bright Shiny Object).
These sound enticing in the beginning. You may be promised ‘secret loopholes to easy money online.’
Don’t fall for the hype.
A successful online business requires some financial investments. And as I said, these have been the best investments I’ve ever made in my life.
But you will also work hard for your online business, especially in the beginning.
You will invest an asset more valuable than money…your time.
Right now you may be investing your time primarily in a JOB. Depending on what you do, it may or may not pay good dividends. You may or may not enjoy it. But you’re not building something you own. You’re simply trading hours for dollars.
An online business can give you FREEDOM.
Enjoy what you do. And at the same time, leverage what you create into greater financial and personal rewards. Create something that lasts and continues to grow.
Your business is the most valuable financial investment you can make.
Make smart long-term investments in your online business.
The basic secrets to online business are pretty simple. They’re not always easy, but they are simple.
Find an easy to reach audience online that has a desperate problem they’re willing to pay to solve.
Grab attention in that market with a contrarian message that makes a unique promise.
Build your audience through email, blogging, social media, etc. Email is the most valuable by far.
Make offers to your list that help your audience solve their problems.
Track each step along the way!
Monitor both financial and time investments.
Which investments are delivering a return? With advertising, it’s obvious we must track every step in the funnel including the target audience being used, the click through rates, how many people join your list, the percentage who purchase, etc.
But you can also track how much time you invest on each blog post, social media share, and product created.
Where are your best returns on your investments of money and time?
Track this. Know your numbers. How many visitors did your site receive, how many of them turn into subscribers, and how many of those translated into buyers?
The biggest difference between treating your business like a lottery versus an investment is whether you’re tracking the results.
The only way to see which investments are paying off is by knowing the numbers.
There are many ways you can track.
Google Analytics is a free tool which also includes goal tracking. But it’s pretty complicated to use.
And there are even easier ways to track sales back to whatever lead sources you’re using.
For example, many shopping carts have built-in tracking features.
One of the easiest to use shopping carts, Zaxaa, lets you track sales across all your funnels using sub-ids.
This means you could set a different ‘sub-id’ code for every ad you run and know exactly how many sales and upsells you achieved from each one.
It will show you exactly how much every click from that ad was worth?
But Zaxaa goes even further. It can even report your average Lifetime Customer Value…for each specific traffic source.
And that’s not to mention its ability to predict your future income based on your past sales history.
You can check out the basic version of Zaxaa for free today.
But hurry. There is a price increase coming for the premium version next month.
You can get grandfathered in at the current rates.
If you’re not tracking, then you’re just gambling…
Disclosure: I know and work with the owner personally. And the above links are my affiliate link.