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Mastering Online Business

In Rich Dad Poor Dad, Kiyosaki presents a few plans of action to achieve financial freedom, things he did along the way to acquire the passive income, but unfortunately they were rather time intensive or did require some financial resources.

For example he talked about buying real estate to rent out. He’d look at 100 houses before he bought one to get the really good deal that he knew would be profitable.

Now there’s nothing wrong with that plan, but again, it is one that is going to take a fair amount of time to do it and to learn how to do it right.

The book was originally published back in 1997 which means that things were quite a bit different than they are today. There are certain things available to you today that weren’t then. You can make use of these to become financially free in very short order.

In Today’s World, we Have a New “Land of Opportunity”.

NOTE: as you read through this section, do NOT become overwhelmed or intimidated.
We are going to wind up at a very simple checklist that even a 5th grader could do.

Back in 1997, most business was conducted either face to face, through the mail or over the phone. Most business transactions were still conducted via cash or check.

The internet was still in its infancy back when Kiyosaki wrote his book, and many things that are commonplace today on the internet just weren’t around then. Nowadays, billions of dollars in transactions take place over the internet daily and the mechanisms for that to happen are well established. The internet is the true land of opportunity.

This is also where a lot of people run off course in their pursuit of financial freedom. There are so many different ways to “make money” on the internet that the problem isn’t a lack of choices. It is TOO MANY CHOICES, so we’re going to look at some of them and then narrow things down to quickly and easily meet our goal.

A few of the more well known ways to “make money” via the World Wide Web:

  • Creating digital products and setting up a mini-site to sell them. Some of these products include eBooks, audios, videos, software
  • Selling physical goods on your site. Things like books, CD, DVD’s, drop shipped goods from wholesalers, or products that you make
  • Selling other people’s offerings (affiliate marketing)
  • Selling goods on eBay
  • AdSense ads
  • Selling services
  • Membership sites

There are also many different ways (strategies) to market what you have to sell:

  • Adwords and other pay-per-click
  • Ezine advertising
  • Offline marketing
  • Articles
  • Videos on YouTube and other free video sites
  • MySpace, FaceBook, Digg and other social sites (Web 2.0 marketing)
  • Joint Venture partnerships
  • Search Engine Optimization (SEO) and organic search engine traffic
  • Banner and link exchanges
  • Free classifieds
  • Viral marketing with free reports
  • Teleseminars
  • Webinars
  • Blogging and Squidoo
  • The list goes on and on

These are all valid methods and many people are doing all of these things successfully.

Many people do make money doing these things, and there are pros and cons to every one of them, but for most the situation is like being self-employed. Most are not financially free and so they still have to keep working or the influx of money stops.

Some of these methods also require some particular technical skills, and a fair amount of time investment to build.

NOTE: if you are already an internet marketer and make use of the above methods of marketing and you do so PROFITABLY already, then you can use what you want for the marketing portion of this plan. I would recommend that you don’t dismiss the method we provide further along in this plan however, and for the reasoning behind it.

One of the obstacles that people face in their pursuit of income on the internet is TOO MANY CHOICES. Just like business opportunities in the off-line world.

It’s similar to looking for a house. You don’t want a hundred houses. You don’t really want to look at a hundred houses either. You want to look at 3 to 5 houses that meet all your criteria, then choose the one you like most, buy it and move in.

So we are going to narrow our choices down to the best of the best by filtering out what doesn’t meet your primary objective of financial freedom and consistent passive income.

You have your objective, so your strategy needs to be simple and based on what works toward that objective. We’ll do this by filtering out what doesn’t match up.

Let’s take just a moment to review your objective (what you want).

  • Cash FLOW – continuing money coming to you month after month for doing work ONCE. You are NOT looking for one-time payment for your efforts.
  • Hands off – does not require you to continue to work.
  • No limits –you want your income to continue indefinitely, not just a few months.
  • Recession-proof. You want your income to be safe regardless of economic conditions.
  • Predictable. You want to know that your income will be at a certain level or higher.
  • Low risk. You want your income to be safe.
  • Does NOT require you to spend any of your money.
  • Easy to do. Only requires skills that you already have or can be learned easily and in a very short period of time.
  • Can easily be done in a short period of time. Also can easily be outsourced once the cash flow begins from our newly created asset. When you can have someone else do these things for you PROFITABLY, then you’ll definitely want to! More on this later.
  • Has “staying power”. You want a method that will continue to create new cash flow for you both now and for a long period of time, preferably forever.

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