[center]How to become an Internet Billionaire (Posted on 4th June, 2009)[/center]

I, my code name is the Net Guru and before you decide to leave this page.
I want to make a disclaimer.
1. I am not an Internet Marketer.
2. I am not a member of any affiliate network.
3. I am not one of those spammers who thrive on stealing people's
money via scam.

What am i?
I am a very versatile programmer. I am conversant with most of the commercially
available and used programming languages.
Infact you can think of me as one who understands the way the Internet works.

I want to teach you in 3 months how to become a billionaire.
I am not making the promise that this would happen in 3 months, 6 months or even a year.
Infact it may never happen in your life time.
But one thing is sure.
With what i will teach you in the next three months, you will know the secret of how
such internet success stories like Google, Yahoo, Amazon, Ebay, Facebook, Tweeter, etc. achieved success.

First of all, let me say that the internet is the best place to own a business.
There are three major internet streams of income or means by which money can be made on the
internet.

1. Advertising
This is the major source of income on the internet.
The reason for the success of advertising on the internet is as simple as the old traditional
advertising business model.  Companies of all sizes all over the world all compete for
customers. Any where this customers can be found, these companies will pay money
to get the time of this potential customers. This is what made companies like Google and even Facebook
success stories. The share number of active users of this services makes advertisers pay as much as
possible to reach out to their potential customers
N.B: Google on inception did not have any potential means of making money. Infact the founders did
not know how to make people pay for the search service. All they were concerned is how to make a
truly good product that people will want to keep use on a daily basis.
Today both men are worth at least 14 Billion dollars a piece.
Facebook too, did not start with a clear concise business model all they were concerned was how to
get you and i too create a facebook account. I am very sure you reading this article have a facebook.
Today, Facebook is one of the top destinations for advertising on the internet.

2. Paid Service
This is another major way for people to make money on the internet. People will pay for customised services like Hosting,
Email,Human Resource outsourcing and so on.
Look at companies like Yahoo (Although , Yahoo has a free email service, it makes money from its Mail Plus service),Salesforce.com, Monster.com are also companies that makes money by helping companies find the best hands for their open vacancies as well as manage their CRM.

3. Products
You can also make money by selling products online or by serving as a hub (A sought of market place for products) for products.
Companies like Alibaba.com, Ebay,BestBuy.com and even Amazon.com do not make most of the products on their sites. What they do is just allow customers and their users to buy products of all kinds from those who have products to sell on the internet.


It is important to say that this models are not the only models that work.
Infact, the more unique your business model, the better your chances of your internet busines becoming a major success.
Their is a company that developed a business model in which users bid for products and pay a certain amount of money with the lucky bidder
buying the product for as little as 2 cents. An example of a site like that is psychoauction.com in which an IPhone worth 500 dollars was sold  for
2  cents. The company makes more money from the total bids if for example 10000 people bid for a product and each pay something as little as two naira for a
product. The total money the site makes is 20,000 naira if the product is worth 10,000 naira, the company makes 10,000 naira.
As crazy as it is , if i bid 2 naira to get a product worth 10,000 naira and i get the product. I will be glad to come to the site always.


The major advantage of running a business online is that such companies (Virtual Companies) are easier to manage.
Watch out for my blog site tommorrow. During the course of this three months training i will also give you some tests which you are expected to answer.  This will ensure that you get to understand the concepts effectively.  Stay tuned.

You will learn more in tommorrow's posting, 

                                             

[center]Part 2 (5th June 2009)[/center]

The Internet is about people and their information,
An Internet Company is a virtual company as i described yesterday.   A virtual company is one in which there is no physical office address.
The thing is, most of the great companies we find on the internet usually start as an idea which later turned to a virtual company.   The advantage of such companies is that you can run them without any stress of managing staff, paying for office space and the other things neccessary to run a real company.  It is important that you ensure you find someone who can handle the technical details of running such a company.
I take a line from the famous book "Richest Man in Babylon".  The line says , you must commit your gold into the hands of the one who is skilled in its administration.   In other words, before you start such a company you must look for someone who understands or can explain to you the challenges of running such a company.

Always start small,

The most essential thing neccessary for running an internet company include:
1. A Great Idea.
2. A Great Internet Identity.
3. A user/customer management system.
4. A Good Internet Connection.

A Great Idea
This is the most essential ingredient of becoming an internet billionaire.   The world is full of people, each person has something deposited in him/her that another person requires.    You must search within yourself and think very hard about a solution to the problems that people have.
It is however important that not all great ideas make it on the internet that is why this stage is the most tasking stage.
You must envisage all the challenges that people can encounter in using your product or service and try as much as possible to solve such challenges before hand.
I will discuss more on this in later posting.


Great Internet Identity
This is also another important factor.   A lot of people have great ideas that would do well on the internet, however they have a poor internet identity.  You must look for a good name to give to your product or service.  You must pick a good domain name to go with it.  Your internet identity must appeal to your customers or users.   Don't create an identity that would appeal to teenagers for a product or service meant for old people.    Your identity must appeal to your target audience.
If you take time to get this stage right you will have a product or service that would appeal to your audience.

I will discuss more on this in later posting.

user/customer management system
A good user/customer management system is an essential part of an internet success.   You must have a good feeback system in which your users or customers can reach you to inform you of the challenges they are having with your product or service, the improvement you can make to ensure that the Quality of Service ( Q.O.S ) remains high at all times. The most essential user/customer management system is an email address.

I will discuss more on this in later posting.

Good Internet Connection
Every good Internet start up must always have this.   Although in Nigeria, Internet Connection cost are high but without this you have not started your business.  Apart for the fact that an internet connection allows you to monitor and update your internet site, it is also an essential tool for research.    The Internet is the most dynamic sector in the world and so you must always be well informed.  The more informed you are about the changes and improvement on the internet, the more you are able to grow your business.

I will discuss more on this in later posting.

Always keep your eyes on the numbers,
[center]The more users / customers your business has the higher the net worth of your business, [/center]


Assignment 1

1.     What is an Internet Identity?
2.   What do you envisage the internet identities of such companies like Google, Yahoo, Facebook are worth ?

Send your answers to : netbillionaireguru@yahoo.com



See you on monday,   
By then my blog should be ready,

i want to learn , continue,