Let’s be honest.  The biggest reason you’re trying to make a go of internet marketing is to make money right?  You want to become a millionaire.  You know it’s true.  It’s been in the back of your mind since you started thinking about internet marketing.  The big question is how do you build wealth on the internet to make that dream come true?

Well the answer is two fold.  One has to do with the way you have organized your online business and the other has to do with personal behavior.

Let’s take a look at your home based operation first.

For starters real wealth does not happen overnight.  Real wealth is sustainable.  So if you’re spending most of your time promoting the newest shiny object that will be obsolete in two months you really aren’t working towards wealth, you’re looking for the quick score.  Your business should have multiple streams of evergreen products or services to endure your ability to grow wealth.

What do I mean by multiple revenue streams?  Imagine for a moment that the internet existed back when Henry Ford rolled the first Model T off the assembly line.  Guess how many buggy whip and buggy whip accessories sites would have gone out of business?  Don’t put all your eggs in one basket.  Outside market forces which we have no control over can completely ruin an otherwise perfect business.  If you were successfully promoting a vitamin supplement and then the government announced that it caused a certain type of cancer, how many orders do you think you’d get the next day?  How many returns would swamp your mailbox

Have more than one source of revenue so that if one dries up you still have the capital to build a new one.

The second secret to building wealth is your own behavior.  In a 2006 study of the “Millionaire Next Door” several common characteristics were observed in persons whose net worth was over a million dollars. 

Now were not talking about mega rich people who inherited wealth, or hit the lottery or had a one time real estate windfall.  Were talking about your run of the mill millionaire and there are more than you think.  In the U.S. there are 2.5 million or better than 10% of the adult population. 

What these people have in common is a large interest in accumulating wealth, not things.  They understand that real wealth equals real assets not flashy cars and watches.  They also have a passion for saving money.  When they get a new car it is likely to be a late model certified used car rather than a new one.  In short, they enjoy their life but they place a high value on their financial health being sustainable.

Remember back when you first got into this and somebody was trying to sell you a product that would allow you to get a mansion, jaguar, new boat and a hot model to stand in the front yard and show it all off?  And you could get all this in 90 days!  Well that’s exactly the behavior millionaires avoid.

So when you’re thinking how to build wealth think multiple revenue streams, evergreen products and a lifestyle that builds wealth for the future.  Now go make some money.

 

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