The goal of your online business should be to generate enough of both active and passive income to support your desired lifestyle. While you provide continual value to your target audience to help them achieve their desired results in certain areas of their lives.
This business should improve your life progressively, and help transform the lives of others.
Something that you can pass on to your next generation, no matter how the internet marketing world will evolve in the future.
Getting back to the first sentence I mentioned earning BOTH active and passive income, and NOT just passive income alone.
Because passive income, especially in the IM niche, is just too hyped up nowadays.
Too many people think that earning enough passive income will allow them to relax on the beach somewhere.
Yes, passive income should be a goal of your online business, but not your main goal.
I’m sure people like Bill Gates, Warren Buffett and others have more than enough passive income to last 10 lifetimes.
But do they stop creating value to generate more active income and scale their impact, or do they go for even more?
My hope is, you will reach a point in life when making a difference and leaving a legacy mean more to you.
How many times have you watched or read in the news about some rich public figures who ended their lives? These people ended in misery because they didn’t see the real purpose of possessing their great wealth.
Think about it this way, when you die, do you want to be remembered as someone who’s made a lot of money online and lived the high life.
Or someone who’s equally successful, but used his/her wealth to touch thousands, or even millions of lives?
Now that could be the ultimate goal of your online business.
Let’s start by deciding how much you want to make every year, then break it down into the month and day.
Setting this basic financial goal of your online business is the first thing you do before getting into internet marketing.
Because once you have your financial goal of your online business, then start working backwards.
You need to know how much you must make monthly, and even daily to achieve your goal. This will directly determine your marketing strategy.
So if you’re working, your first goal should be to earn enough from your online business to replace your current income. And make that amount consistently for a few months before you decide to quit your day job.
If you’re currently unemployed, or a stay-at-home mom/dad, set a figure you’re comfortable to start with… or if you have little or no savings left, set a do-or-die figure right now.
For example, if you set $3000/month, you know that your online business must generate at least an average of $100/day. Which means you only need 1 sale of $100, 2 sales of $50 etc, per day.
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