Thursday, May 23, 2013

Follow the Money: making money online is more than being 'liked'

"Follow the money"! Have you heard the catchphrase?
It was popularised in the film All the Presidents Men back in the 70's as commentary to the Watergate corruption scandal of the same decade.
We can use the same method to easily assess the success or otherwise of any online investment. It's a little brutal, however ultimately, any website, social media presence or app development will be measured by this blunt yardstick. "Money talks BS walks" to coin another catchphrase. Having a profile online and being 'liked' is only a start.

Though we understand that most businesses get online just to profile themselves, perhaps to list a few products and services and have their address and phone number published... just 'to be there' as it were. Yet in a maturing online space this is really not enough.  In other words your investment needs to yield some return. 

We read of super geeks making millions and home bound parents managing huge online stores turning over millions. We read too of bloggers replacing newspapers and teenagers selling their gaming accounts for more than their parents earn all year. A grain of salt should be applied to the most extreme stories. People do however make good money online. We have clients that have gone from zero to hero in 6 -12 months.

How? Connect your bank account!

So how on earth can "I" make money online, I hear you cry.  The short answer is that you need to connect your website, social media presence, app, video etc. to your bank account. It really is as straight forward as that. Not simple, but straight forward.
In our experience you need to make a plan and then work it.
It's worth talking to people that can help you professionally in this space, people that have done it before and know the not inconsiderable trapdoors. Find someone that you can trust to work up a plan and then give them the job of assembling the team and services that are required, in other words appoint a team leader. Don't fall into the trap of having different people do bits of the job for you and expecting them to work together seamlessly. They rarely will.


Most importantly you'll need to give yourself a budget for the project and empower your team leader to deliver on time and within budget for the investment. With the right team and approach you'll be able to follow the money into your business bank account without the fuss of a WaterGate :).



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