The Five Must Have Ingredients to Building Your Online Business Fast

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http://www.sixfigurementorshq.com Daniel Wagner of the Six Figure Mentors has produced a 40 page ebook that sets out the 5 things you must have to build a successful online business.

Firstly you must have multiple streams of income so that if the income from one stream dips then the other continue to sustain you. So these streams will come from residual income that is income that comes in every month from say a membership site or MLM opportunity. Second you must have income coming from high price products typically over $1000 that will not come as frequently as the residual income but the high amounts will top up the lower residual income. Thirdly income from Joint Venture or Affiliate income. This is where you promote the products of another person who is in a niche similar to yours but not exactly the same. You promote their product to your list and when you have a product to launch they will promote your product to their list. Affiliate income is promoting another person's product that has already been launched. You can find many of these on Clickbank and Pay Dot Com. The second ingredient is list building. This is a list of email subscribers that will have opted in to your autoresponder

in return for getting say a free report. Once a subscriber has opted in you can start marketing other products to them as well as offering great content. You can burn out a list pretty quickly if you all you do is pitch products so mix valuable content up with the sales pitches. Next Daniel talks about the marketing funnel which is the system you create firstly to capture an email address and then lead them forward through a series of upsells,ie products at higher price points. Then once you have proved that you offer great value you can start to offer your own products. The beauty with this is you can set the price point and it establishes yourself as an expert in your field. To leverage this angle still further you can put the product on Clickbank and get other people to promote it as your affiliates. It's true you have to pay 50% to 60% commission but hey you still get 40% to 50% of the price and someone else has done all the work. Then Daniel goes into traffic sources both free and paid . I would recommend you go after free traffic sources first through article and video marketing and press releases. If you try paid advertising like Google Ads and Facebook Advertising then you could lose a lot of money very quickly if you pick the wrong keywords. Wait till you get some income coming in and then start using part of that income to do some paid advertising.

Finally Daniels looks and peer groups and mentoring. Internet marketing can be a lonely business as you sit at your computer each night trying to market your business. So you need a mentor and peer group who can give help and encouragement as your learn the business. So find an online community that is working in your niche that can give you this support and form a local mastermind group of like-minded people who live close to you. Meet up say every two weeks and bounce ideas off each other and hold each other accountable for what you say you are going to do. This will provide a great incentive to get things done.

The ebook is a great read and you can grab it at:

http://www.sixfigurementorshq.com/freereport

or you can get a free seven day internet marketing boot camp video series AND the ebook at

http://www.sixfigurementorshq.com