When you have been running an online business for nearly two decades, you have the opportunity to observe and try a lot of business models. Of course, if there is one thing we know about business on the Internet, it’s that it never stays the same.

But if you watch carefully you see the same trends repeating. They may come with a different name, but at their core they are still the same.

Recently Carmax come out with a series of commercials talking about the way cars are sold – and why they aren’t sold like groceries or meals at your local restaurant.

And that got me thinking about my very first site. In 1996 I saw the need for an easy source of information about all of the things that were changing on the internet. A place you could go to find information, when you needed it. Not a search engine, but a source of short information products to teach you how to take the next step.

Nowadays the model is more about product launches, creating scarcity, and cutting off sales at a specific time. And frankly, it reminds me of the car dealership model.

In recent years I’ve become less enchanted with internet marketing and I think one of the reasons is “launch exhaustion.” It seems every week there is a new product that I MUST have – or I will not be current. Multiple emails per day tell me how uncool I will be if I miss this particular launch.

In fact, it’s gotten to the point where I considered quitting the business just from exhaustion. But then I remembered all of the information I had invested in, all of the products I had created, and all of the people I know who share my feeling about “launch exhaustion” – and decided to find a new way.

So I went back to my original concept of an information store and am proud to announce…

OnlineSuccessBasics.com

On this new (aka re-invented) site I will be releasing 3 to 5 new products per week. Some of those products are original products or reports that I have created myself. But many come from other sources – including private label rights products, licensed products, white label products, and multiple other sources. I am personally reviewing each product before I add it to be sure it meets my standards of solid information that is currently valuable to your business.

And best of all – all of these products will be available when YOU need them, at the SAME price, all the time. So don’t feel rushed to buy them just because they are there. They won’t be disappearing. They won’t be increasing in price. They will be there as ready references for you, when you are ready to add them to your business.

Welcome to the New Model for Online Information Products!

It seems inconceivable now, but there may come a time that you want to close your online business. It may be for health reasons. It could be because you’re just tired of doing it. Maybe you’ve changed direction in your life and don’t want to continue any of your online activities. There are a variety of reasons.

One of the challenges we face with Online Business is that it’s been around such a short time, that there are not a lot of good models to follow when it comes to closing one. That was my challenge as I decided whether or not I wanted to retire. As a consequence, the amount of time and effort I put into researching the options has been documented here.

If you have decided it’s time to close your online business, here’s a list of steps you need to take.

Domains

1. List all of the domains you own. You can easily do this by pulling a report from your registrar (the place where you register and renew your domain names).

2. Determine the fate of each domain name. Will you sell this one? Will you keep it? (I always recommend you keep yourname.com, if you already own it. There is only one of those in the world and it may have future value for you.) Will you just let it expire?

Note your decision next to each domain name.

If you own a keyword-rich domain name, it may be worth it to sell it. You can determine the “value” by getting a domain appraisal at your registrar’s site. If they don’t offer one, you can always use TechTamersDomains.com (Choose it from the Domains menu.)

Once you have determined the potential value of a domain, you can

• Offer it to your list
• Point social media posts pointing to your list of domains for sale
• Sell it on Sedo.com (they are the best known site seller, but they also charge more) or GoDaddy Auctions (more affordable fees, but less traffic).

Payments

3. List all sites where you are making payments. The easiest way to get a list of these is to look at your credit card statements, your PayPal account, and your bookkeeping system. You may easily have:

• Hosting
• Automatic renewals at your registrar
• A shopping cart
• An autoresponder system
• Monthly sites you pay for, such as memberships
• Backup sites you maintain, such as Amazon S3

Next to each payment, list whether or not it is recurring. If so, be sure to cancel those. The biggest culprits will be those annual licenses you pay for things like backups, software licenses, etc. So these may take some digging.

4. With your list of payments, plan when to turn them off.

Timing is key here. For example, you cannot turn off your hosting account as long as you have active sites on it. So that may be one of the last accounts to close.

On the other hand, you can turn off all of the recurring payments you have for content immediately, since you won’t be needing it any more.

So look at each payment carefully. Better to let it go one more payment than to cancel in haste and decide you really needed that site one more month.

Intellectual Property

5. Focus on your intellectual assets. If, for example, you’ve created courses or written articles or books, decide 1) if each item has any value and 2) do you want to sell it to someone else?

A. You can sell your business as a whole. There are business brokers who will find a buyer for your business. However, recognize that there is a lot of work that you need to put in before you are prepared to sell it. For example, you will need to document each site, each product, number of copies sold, when content was last updated, conversion rate for the site, etc. If you are willing to put in that effort or already have those numbers at hand, this may be a good option for you. Just be prepared to wait for the right buyer, all the time either continuing your business or watching it deteriorate around you, with no guarantee it will sell.

B. You can sell your content. Again, there are multiple choices for how to do this.

1. You can sell your domains with content on them. If the domain has good content on it, such as a sales letter, product, or blog, you can sell it with the content, adding value to the buyer. Naturally you want to be sure you have all rights to the content. If you do, look into selling the site “as is” on Flippa.com or a similar site.

2. You can sell just the content. You could easily package the product or blog articles, for example, and sell a limited number of copies of it. Include Private Label Rights and the masters (such as the slides, Word documents, etc.) so that the buyer(s) can modify and update the content. As a bonus include a copy of your salesletter. Include training on how to repurpose PLR materials.

3. Sell turnkey sites that are clones of your original site. This is particularly effective if you have a product that newer marketers could sell, without specialized knowledge. You can even go one step further and use software like Backup Creator to clone your site and set up a duplicate on their URL. Providing this type of “service” goes beyond just PLR rights to the content. You are now selling a “turnkey business” at a much higher price point. You can charge even more by limiting the number of packages you sell. You could easily record a how-to webinar where you show them how to modify the site to make it unique.

6. You may have some assets that continue to generate revenue, with no additional work on your part. These will include affiliate revenues for recurring products – those will continue to flow into your account, so keep your PayPal account open. Likewise, books you’re selling on Amazon and other sites will continue to generate revenue. You may want to change the bank account where you receive your payments, but there’s no point in getting rid of these, unless you feel you can make more from them by selling the title or rights to the books.

Related Issues

7. You have a variety of social media accounts. Will you keep these or stop using them when your business closes? Make a list of them and determine the fate of each.

8. Email subscriptions. Start now to unsubscribe from everything. If you have decide to close your business, you no longer need multiple emails tempting you to buy things you don’t need. You no longer need to track what other marketers are doing. Just unsubscribe.

9. Multiple email accounts. If you are not in business, you probably don’t need multiple email accounts. Close them.

10. Decide whether or not you want to tell anyone you are retiring or quitting. Since there are so few high-profile Online Businesses that have quit or closed, there are few models to follow. Of those who have announced their “retirement”, 100% have resurfaced online within 5 years. So you may or may not decide to share the news with your customers, subscribers, and online friends.

11. Notify your customers. If people have purchased products from you, you need to let them know you are selling the product site or that you are closing it. Give them an opportunity to log in and pick up what they need before the site closes.

12. Consider your customers. If you are selling the site, you may or may not include the list of customers with the sale. It depends on the terms under which people subscribed to your site and whether or not you trust the new owner to take good care of your people. If in doubt on either item, don’t give them the customer list.

Take Action

If you’ve gotten to this point, following each of the prior steps, it’s time to go ahead and take action. Every day you delay, it’s costing you money.

Summary

Closing a business is not an easy decision, nor is it a quick process, unless you just turn out the lights and walk away. Even then, if you have not documented your assets and how you will dispose of them, unexpected charges will come back to bite you. So take the time to do it right.

Naturally I would love to hear your ideas of what else you can think of – or what questions you have about the process.

As we honor our Veterans for Veterans Day 2013, I want to say a special thank you to my parents.

My father, who died 50 years ago this year,was a quiet man, as were many of his generation. Born at the end of World War I, he never knew a world without conflict.

He did what needed to be done without complaint. As a young boy growing up during the depression, he threw papers to help support his family. He took an extra job as an assistant at the local drug store, helping deliver prescriptions so that his sister could take dance lessons.

When recruiting started in preparation for World War II, he enlisted in 1941 at a grand $21 per month. In spite of the salary, Mother still married him in 1942 and moved to Arkansas where he was stationed so that both of them could live on $21 a month.

When the war started, they knew he would be leaving, but not when. At that time, government secrets like troop movements were actually secrets!  So Mother was not surprised when one day he just didn’t come home from work at the post. She waited 24 hours as he had instructed, then went to the post to see it had been disserted. He had shipped out to Europe. No voicemail. No letters. No video. Just gone.

Over time she found out he was in England. As a medical supply officer, there was little chance he would actually be part of the invasion, but then she didn’t really know what he was doing or where he was in England. I have many of their letters back and forth, with lines and words redacted by the sensors. Certainly there was never a hint about where he was in England or what his duties were.

Meanwhile on the home front, Mother moved back home to live with her parents and contribute to the war effort. Working alongside her father, she serviced the vending machines in the factories in their area, where war goods were being manufactured.

I remember her talking about “The War Effort” and the rationing, but it wasn’t until we visited the World War II Museum recently that I truly appreciated the full effort put in by those on the Home Front.

Imagine saving the grease from cooking – because it could be recycled and used to oil guns and machinery. Did you know that it took 30 lipstick tubes to make one bullet? Or that each tin can used in cooking was then recycled into war machinery? It was truly awe-inspiring to see how everyone helped in the effort to equip and win World War II.

I could go on for hours, talking about the rich military history of which I am so proud. I grew up as an Army brat and married an Army man, who is himself an Air Force brat. I loved being a part of the military world.

And those are just a few of the reasons I give a particularly heartfelt “Thank You” to all of our Veterans here and abroad on Veterans’ Day. It is an honor to know you and truly a privilege that you serve our cause for peace. Thank you!

Author’s Note: If you are in New Orleans, I highly recommend a day at the World War II Museum. Download the app ahead of time so you can get an idea of the breadth of the exhibits. Then buy the ticket that includes both the movie narrated by Tom Hanks and the submarine simulation experience. Both are very powerful. Spend 20 minutes just sitting in the lobby of the Boeing exhibit, appreciating what our country achieved in production from our factories. Talk to the docents around the museum, many of whom are World War II veterans. Incredible stories!

There is a growing number of events that are held virtually. It makes sense. After all, a virtual event saves you the time and cost of traveling to attend an event. Plus it saves the organizer the cost of renting a venue, plus the logistic hassles that always accompany a live face-to-face event.

But just as you would pack and prepare for a “real” event, you should do the same for a virtual event.

So let’s assume you will be attending a 3-day virtual event from the comfort of your office. Here are some tips for getting the most out of the event.

1. Set Aside Time

If you were physically attending an event in another city, you would “be” there – in the room, taking notes, listening to the presentations.

It should be the same for a virtual event. Clear your calendar. Tell your family that you will be busy. Go into your office – and STAY there for the presentations.

2. Turn Off Your Work

Sure it’s tempting to check your email, do a little surfing, even check Facebook. But if you spend your time doing that, then you’re not giving your full attention to the presentations. Remember if you were in the presentation room, you would give it your full attention. Do yourself a favor and focus on the content. After all, that’s what you paid for!

3. Implement Quickly

One of the advantages to attending from home is that you DO have your computer at hand. So rather than wandering around during the breaks, why not go ahead and start implementing right away? You’ll be amazed at how many tasks you can do immediately, while it’s fresh on your mind.

4. Network With Other Attendees

Many virtual events provide chat rooms or Facebook groups that you can join. Do that before the event starts. Then drop by during the breaks to see what others are saying or asking. You’ll form fast friendships, just as you would at a live event.

5. Provide Feedback

Most event organizers want to hear from you, so take time to let them know what you liked and didn’t like about the event. If you’re comfortable doing so, create a testimonial they can add to the website and send it to them as early in the event as possible.

Not only is your testimonial likely to appear on the website, but your name may be mentioned during the live event. It’s another way to get free publicity.

Virtual events can be fun and profitable, particularly when you give them the same attention you would give a live face-to-face event. So make your next virtual event your best ever!

You attending Web Camp this weekend? Then drop by Facebook during the breaks and we’ll chat about what we’re learning!

When it comes to hiring online experts, it is critical that you know who you are hiring and why they are qualified to be your advisor. This is an article I wrote several years  ago, but it is equally valid today. Please follow my advice – before you listen to an “online expert.”

It happened again today. One of my students sent me a question about how to do something online. But in asking the question, she mentioned her ” personal coach” who was telling her how to set up her website. Naturally, her coach helps people get their lives together – but since when did she become an expert in online marketing?

And that’s what set off this rant.

It seems that anyone who has ever used a browser considers themselves an expert in online marketing. After all, they clicked on a pay-per-click ad, so they know how to “use” them. And therefore feel qualified to advise others on how to write ads, create an advertising budget, track response rates, and just generally do business online.

Then there is the “I can design it” group of experts. Sure, using WordPress or a web design program, anyone can create a website. But does that mean it’s a good website? A website that sells? A website that gathers leads and converts them into sales? No, but to listen to them you would think they were the world’s expert on this. In fact, they actually ask other people to pay them to give advice.

Please. Before you pay anyone to give you online advice, ask these questions:

1. How long have you been doing business online? Not just how long have you had a website, but how long have you been making your *living* online?

2. How many different businesses have you worked with online? Not how many ebooks have you bought, but how many different businesses have you advised, who have then gone on to be successful online.

3. How many subscribers do you have? How many have you helped others get?

4. How many products have you created and sell online? How many have you helped others create and sell online?

5. How do you track the results of your efforts?

6. How many different models do you use in putting together the strategy for an online marketing client?

7. What are your top 20 strategies for getting results online?

8. Have you worked with people who have information or content sites? sales sites? store sites? passive revenue sites?

9. How many autoresponder sequences have you written and/or reviewed?

10. What is the assessment process you go through to determine the appropriate strategies to use on a site?

When they can answer these questions for you, to your level of satisfaction, THEN you can consider hiring them to coach you to Online Success.

Until then, let me to invite you to join us at a real answers site for Online Business, created by an expert who has taught and helped thousands of people become successful online – Ask Jeanette Cates!

Lake Pontchartrain Causeway

It was my first trip across the Lake Pontchartrain bridge in Louisiana. It was the longest bridge I’d ever seen – and it made a big impression.

One of the things I couldn’t get out of my mind was how they built it. First by laying down the pilings, then connecting those pillars with the road on top.

It was that image that I carried with me into my Internet business.

My plan was to create a series of products that supported one another and could be sequenced in different ways. Then start to connect them, much as the bridge had been connected.

So I started on the plan. I created and created and created. But it wasn’t time to sell yet. I still had just a “few more” pillars to put in.

It took not months, but years to put all of the pieces in place. Then of course, I had to start revising the older products… and well, as you can imagine, there still wasn’t any revenue coming in!

I *don’t* recommend the Bridge model!

Compare that to the smoke stack model. In this model you build the first smoke stack. You promote that first product and start building your list while you continue to drive traffic to the site. You’re actually making money right from the start!

Once you have one smoke stack working, you build the second one. You get that up and running, making money and well, you see the pattern.

I *do* recommend the smoke stack model!

So what is your first smoke stack? If you’ve been working on multiple projects, stop! Choose one – the one that is the easiest to complete, the fastest to complete, and the one most likely to be immediately profitable.

Then turn your full attention to that project. Do everything you can to get that ONE project to market and making money.

Need help choosing your Online Business model? Watch the free video at Online Success Explained.

The holidays are supposed to be a joyous time for families. But between the last minute shopping, the gift wrapping, the planning and the cooking, the week of Christmas can get insanely stressful.

Here are some tips to help you keep stress to a minimum so you can enjoy Christmas to the fullest.

• Keep meals as simple as possible. Using a meal plan and preparing ingredients ahead of time can help you keep meals healthy with less stress. But if things are getting too hectic to cook, remember that tossing a frozen pizza in the oven one night won’t cause irreparable harm.
  

• Keep plenty of healthy snacks on hand. This will help eliminate worries about the kids getting the nutrition they need each day. Popular grab-and-go options include seedless grapes, baby carrots, trail mix and wheat crackers.
  

• Enlist some help from the kids. Ask teens to take over cooking duties from time to time, and give younger kids step by step instructions for making one dish while you work on another. Even preschoolers can be surprisingly helpful – ask them to fetch ingredients and help with the measuring.
  

• Keep your to-do list doable. It’s far too easy to overschedule around Christmastime. Planning ahead is key. Sit down and make a list of everything that needs to be done by the 25^th a couple of weeks ahead of time, then spread it out. That way you won’t be rushing around at the last minute.
  

• Make time for yourself. Schedule some time for exercise each day, and make sure you have at least a half hour or so to just relax in the evening. By making sure your own needs are met, you’ll be better able to attend to everyone else’s.
  

• Be prepared for the unexpected. Not everything will go as planned, so it’s important to be flexible. Simple measures such as tidying up the guest room and keeping extra food on hand for unexpected guests can save you some worries.
  

And most of all, remember you don’t have to be a superhero. The best memories you’ll create at Christmas is the time you spend together…so do lots of that and let the other worries slide off your back.

Overload Isn’t Just A Holiday Thing! It’s Year ‘Round.

Information abounds in the Online Business arena. If it’s all just Too Much – get control with Overcome Information Overload.