Thursday, March 29, 2007

Do you know how to build a successful Online Business Model?

I just went through a few series of book and video tutorial by this guy call Rich Schefren. He is the guru of all the Internet guru if you are talking about how to build a successful online business model.

A lot of well known Internet guru is coached by him, for example Joel Comm, Google Adsense guru is one of his students.

One of his books “The Final Chapter” information really blown me away. You can get the Book for FREE at

According to Rich Schefren, in order to build a successful online businesses , you must have 7 important elements. If you miss out anyone of them, I guarantee your business will not last for really long. That is why you heard people say that 80% of the business is closed in the first 5 year and the remaining 20% is out for the next 5 years.

There are 7 major components that determine whether your business is going to success or failure.

Vision=>Strength=>Passion=>Resources=>Alliance Partners=>Powerful Tactics=>Action Plan

If you have all the 7 important element, you are in the right track, you are building a successful online business model. Let say now, you miss one of the component “Vision”.

“Vision” is how you foresee your business grow in future. Will it be number 1 in the market place or just an ordinary company? If you do not have “Vision” , you definitely do not have any ideas where you are heading and that will lead to “Confusion”.

If you do not have “Strength”, you will feel “Anxiety” as other people is more knowledgeable. One day, they might take over your business. Strength is what you good at and do better the most.

If you do not have “Passion”, what will happen to your business in long run?

The answer is “Unmotivated”. You will lack of force to move you forward. It is just like a fuel of your car. Passion is what you love to do even without any return.

“Resources” is more like a tool you need to implement your online business. You must know where and how to get your resource or contact. For example, I need a sales copy writer and you do not have any contact and do not know where to find. It will lead you to “Frustration”.

Alliance Partners” is the part I like most. If you want to grow your business faster, you need to have to work with someone. You alone cannot concur the whole market. Look for partnership to work together! Partner with similar goal will lead you to success.

If you do not have “Powerful Tactics”, then you are not catching up with your competitor. You are going to loose in the battle field. Other people are enjoying catching the big fish and you only get a small fish. This problem will lead to “Poor Result”.

Alright, now come to the last part call “Action Plan”. If you miss out element, nothing is going to move and you are still who you are. Talk is Cheap!

To get the full version discuss about this critical element. Get the Free book at


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