The best time to start an online business is now. 53% of internet users had made an online purchase in 2016 so that means the number is even higher now (US Department of Commerce) This is simply an opportunity you can’t miss out on.
We studied two online businesses (one will really shock you that it generated over $1 million.) to determine what makes a successful online business.
The First Business
The Million Dollar Homepage was launched in 2005, by Alex Tew. The website offered nothing to visitors but a 1,000 x 1,000 page of blank pixels.
He sold 10×10 blocks to company’s for ad space priced at $1/pixel
$1,000,000 pixels total.
He ended up selling all the pixels and even auctioning off the last 1,000 pixels for $38,100, raising a total of $1,037,100….Check out the page here if you don’t believe it
The Second Business
This one you’ve definitely seen and might even be a customer to….fidget spinners.
“A fidget spinner is a toy that consists of a ball bearing in the center of a multi-lobed flat structure
made from metal or plastic designed to spin along its axis with little effort.”
Two teens, Allan Maman and Cooper Weiss were able to make over $350,000 by selling fidget spinners with their business Fidget360 that started by creating fidget spinners with their schools 3D printer.
What did these two business’s have in common that helped them become so successful online?
Both of these business’s harnessed the power of social media and the internet to generate crazy sales numbers.
In reality nobody knows the secret formula and that’s sort of the beauty of online virality.
Most things actually go viral by accident but the business’s and products that are able to, make a lot of money.
Maman and Weiss made $2,000 in sales in 24 hours with a $15 Instagram ad.
Very few people have mastered the art of creating viral content on purpose and those that have get paid a lot by businesses to help them do the same.
If you want to learn more on going viral with your business here is a free E-Book on how to go VIRAL courtesy of InvestingSimple.
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