Golden Key #1 - The Market comes first.
The market is very important than the product or service that you produces you sell. The main reason why people fail is that they are just only fouse on building product and services by not knowing what market likes or think. They just make a product by asking his/her family like it or not.
In the Internet world, good market research is key. You should know what is going on in the market, what people are liking and what types of problems are people facing and how you can your product and services can satisfy them. Because while building the product and service it is 80% research and 20% building product ad services.
Research your market and know what people desire to buy. Not what you think they might buy but what they actually spending money on already.
Golden Key #2 - Create a simple, easy to navigate website that sells.
People are making a crazy website. They look cool but they are difficult to use that there most of the visitor does not buy. It does not matter your product is cool or your website or your traffic is high if you cant turn your visitor into a customer than Just think and you are just getting experiences of rejection.
Your website is 24/7 virtual salesperson. If a company salesperson can't sell the product than He/She is useless for a company. It is liked the same cant less than the website is useless for you.
Golden Key #3 - Build a business, not a moneymaker
People are just in the race of making money quickly and I and Dan Lok was also the part of it I see the ads to make money, download all kind of app that makes earn but I realize that I am here for making money for long term/ passive income then, why am doing this, Then I change the way of earning money.
A business has an assets customer list, product, and brand. I find in research that some of the businessmen are safe from bankrupt due to their audiences/customer.
Golden Key #4 - create multiple income streams in one business, Don't create the diversified business.
the third richest man said," Don't put your all eggs, in one basket." Many financial free people will tell you that create multiple streams of income but people misunderstand this concept and try 10 different business thinking that It will earn them they fall because you can't control all the 10 different business. It is confusing. For eg - if you create a youtube channel you can earn from it as well as you can earn from affiliate marketing, brand awareness and many more.
If you want to build another business then, first make the business you are running stable that you don't have to work but it make money all the time for you.
Golden Key #5 - Leverage the time and resources of others.
All the people in this world have 24 hours from the richest person to the poor one but why rich people are doing so much work in a day but poor can do because they use or buy other's times and resources.
Just think if Nike owner has never used other time and resource what do you think all the people in the world can wear Nike. No, It will not be possible. You should know to make other times and resource to work for you.
Golden Key #6 - Use your personality to sell.
The company is big but they are uncaring about their customer but people like to do business with the one who they like, trust and know. But when you make a video of yourself telling your success and failure and promise them to help to get in your level it makes them special.
Golden Key #7 - Position your business for automatic growth.
Make your business in auto mode. Let the business make money when you are not around. You have to make business for automatic growth because it will help you invest in new business and stock or real state.
Buy new technology and use them for your advantage. It is how rich are getting richer.
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