Have you ever wondered why 90% of all venture startups end up utterly failing ?
And the answer is simply because a business venture encapsulates a lot of variables that generate a lot of risk and a lot of know-how that needs to be managed correctly. Let me explain:
You would have to deal with the following:
— learning to professionally develop a project/product
— learning to cope with the constant iterations of the project/product
— building the right TEAM at the right TIME
— learning to deal with finances & budgets
— learning to sell with the right positioning in terms of branding&marketing
— learning to cope with customer support, refunds and inventory
— implement payment processes & reinvest profit to generate cashflow
Most of these processes that by the way any of them could go south on you really fast and could generate multiple failures, especially in affiliate marketing are already covered by the affiliate marketing network(position that gives you the edge of minimum resistance at the point of entry and cuts down your operating costs and risks to a minimum)leaving you with a simplified system that is already put in place for you and that you have to repeat to grow and eventually scale:
But at first even this process is extremely simplified because your focus should be entirely on:
— choosing the right product/niche to promote(short term)
— develop the right strategy to promote your products(long term)
If still you are not convinced take a minute to compare them and see for yourself how advantages vs. the disadvantages of affiliate marketing weigh on the balance :
Ok, but now you might ask what are the skills needed to be a successful affiliate marketer ? so take a sit down for this one please because they are as hard to come by as they are hard to master:
- copywritting( the art of writing effective and creative sales letters and advertisements that promote and differentiate your products/brand)
- digital marketing(the digital art of selling, promoting and positioning your products/brand)
- personal development(learn to cope with unpaid hard work at first that might transition into passive income).
And the question becomes do you have the motivation needed to add additional 3/4 hours per day to dedicate yourself learning these skills in the hopes that you will eventually get good at it(make some $ money) and in the long run hopefully transition your effort to 1/2 hours per day ?
Because if you do not fully commit to it and treat it just as a part-time hustle you will only be setting yourself to failure!
And the SOLUTION to properly position yourself in order to make this endeavor a sustainable one is to join an affiliate network that promotes products that YOU personally have tried and loved, and are closely related to your passions and/or your day job, and by doing so you will act in the much needed win/win MINDSET(that was described in full depth in this article) and that will also enable you to apply some risk management to the venture and possibly SCALE your efforts by leveraging your current skills an assets and enable you to gain NEW ones in the process.
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So COMMIT first in CHANGING your MINDSET and take your time to read the 10 STEPS to climb ENTREPRENEURSHIP series!