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24 - Web Properties Roadmap Webinar 2

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#4
it provides us the rules and principles for the Litmus Test for analyzing which business we can select. in our road may the key element is consistent revenue.if we find this element in the business we are considering to invest it will be suitable else we must stay away from it. The bitcoin , forex, CPA all come in the category that lack this consistent factor. Even the business we analyse in future this litmus test will help us. It has resolved the issue of selection criteria of the business selection for us forever. The other key element identified is revenue. if our business is earning good revenue , it will help in selling the business in good price. The longer the time you remain consistent in earning your revenue , the higher the price you get for your web property. e.g if you are able to generate revenue of $1000 fro your website for more than six months you can sell it for more than $10,000.Depending on the potential of your website to grow more and earn more revenue , it can be sold on higher price. The domain sales and purchase business is not reliable. We are not able to define how much revenue we will generate after how many months. It all depend son the buyer.We must stay away from all the businesses where we cannot valuate and analyze the actual worth of our efforts and unable to see how much revenue or growth our business will get with the efforts we put in. Always work on the business that give something or small victories on each step.if you work as freelancer your smaller victory is that your skill is polished.Every business has certain key elements, we must identify , analyse and collect data about it and make road map that helps us to document it and analyse it. We must prepare our mind and convince ourselves that the key to true success is hard work. The road map provides the straight path with directions to follow and what to avoid , if our intention is wright and we are willing to work hard then success is guaranteed. To bring results we need to work hard , no other short cut available. building relation ship and trust with your customer is the fundamental step in making your business successful. if you want your business to grow big you need to work on trust and relationship building. Try to find ways to reach to your ideal customer . The ideal customer helps you to generate revenue. Always analyse the data and stat before making any business related decision of sales or purchase. Always follow structured approach based on analysis not on guesses or your imaginations. you can make sane investment to have access to the audience related to your niche/business and filter out the ideal customers for you. You must use forums and communities to build the trust and relationship with your real customer. Be honest to your customer , follow business ethics if required sign the non disclosure agreement ( NDA). behind every successful deal there are lot of efforts behind it. if we are able to add Revenue sharing element in our business it will help to grow it. We must avoid greediness and quick fixes and results without going through the complete learning process in hurry. The road maps we have completed till today help us to have the feeling of the real business . it is the simulation of the real business and the great finding and its practical demonstration.