In order to succeed, as an online entrepreneur, you have to create ads,
manage your money, negotiate with people, manage your team,
and solve one problem after another.
There’s a term in business called “T-Shaped” skills. It means to be an expert
in a single field, while having a broad knowledge of several other disciplines.
What skills do you need to be successful online entrepreneur?
To begin, you need only a solid work ethic and persistence.
Over time, if you want to succeed, you will need to develop some skills:
1. Problem-Solving & Decision-Making Skills
Affiliate marketing means you’re constantly solving problems.
You’re going to face issues and problems that no one else can help you with.
Decision-making is just as important. Most people rely on their gut feelings
to make decisions. Learn strategies to make better decisions. Consult with experts,
consider all the options, and make rational decisions instead of impulsive ones.
2. Creativity & Marketing Skills
Being a good marketer is necessary in this business.
First-mover advantage is huge in the affiliate marketing space,
and in order to capitalize on it, you have to be creative.
You also have to learn how to write compelling ads & good landing page copy.
Our business is to sell and to make people take action.
Your potential customer is surfing Facebook just for fun, so you have to be
mighty convincing if you want him to pull out his credit card and pay $50
for your product. To improve your marketing you should start by
understanding the psychology behind what makes humans buy.
What are their motivations? What words trigger them to buy?
Study copywriting and observe other marketers.
3. Technical Skills
Being an affiliate marketer require some basic technical knowledge.
You need to learn how to build landing pages, set up your tracker,
and deal with various issues that come up.
This is the minimum of technical knowledge you will need.
4. People Skills
Developing social and communication skills is a big help.
Good relationships can credit you with a lot of success.
Some affiliates can be your eyes and ears for what’s really hot.
Mastermind and create joint ventures with others.
Some of the aspects of affiliate marketing is hard to figure out if you don't
communicate with others. Have people at traffic sources who'll give you
information that no one else has.
Treat others the way you want to be treated. Don’t let your ego get in the way
of forming genuine connections just because you’re doing well.
5. Data Analysis Skills
Affiliate marketing is all about buying traffic. Those clicks tell a story.
The conversions show you the types of people who like your product.
Does a certain ad convert better? Are you profitable only during certain
times of the day? These are the clues you use to optimize your campaign.
Nowadays we have so many tools to help us.
Make decisions based on data, not emotions.
6. Money Management Skills
Managing your money is essential in affiliate marketing because your cash flow
is the lifeblood of your campaigns. Start by being realistic about how much
you make. Making few thousand Dollars in profit is one thing, but it’s much less
when you account for business expenses, shipping costs, taxes
and future failed campaigns.
Watch your bank accounts like a hawk. Make sure you cancel services you’re
not using. If you have money deposited at traffic sources you’re not using
anymore, ask them for a refund. Live below your means. You are probably
tired of hearing this, but the reason why it’s repeated all the time is because
it’s true. Too many people disappear from the industry because they were
living a lifestyle they couldn’t afford. Use your money to make more money.
7. Productivity Skills
We are all obsessed with productivity. We all have the same 24 hours in a day
but some people get much more out of them than others do.
Some affiliate marketers are realizing only 10% of their potential because
they can’t get motivated or focused. If that sound like you, then this is a skill
you have to improve.
8. Leadership Skills
Sooner or later, you’ll realize that you need to start building a team.
It’s not easy, and it’s a skill you have to develop. You have to delegate tasks,
train your working affiliates, keep them motivated, and deal with whatever
issues they have.
If those seems like too many skills to learn, the good news is that you don’t have
to be an expert in all of them to succeed. Some are less important than others,
and some can be outsourced.
If you’re a beginner, it’s important not to be overconfident just because
you have pre-existing skills. It is an advantage but just because you have
those skills doesn’t mean you’re going to make a lot of money.
There are other important skills you have to develop to ensure your success.
No one is born knowing how to be an affiliate marketer. If you are missing
some key skills listed above, then develop an action plan to improve
in those areas.
I wish you all much more success in coming year!
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