Hi,
I have started several online businesses but never put too much energy into them so nothing moved forward - until 4 weeks ago.
I started pushing harder, had a few sales and now need to make a plan on how to continue with it. Writing down the status quo and my plans will help me to get clearer about my focus but I'm also highly interested in any advice on how to evolve my business.
My business is stock/ forex/ cryptocurrency trading related. I programmed proprietary technical indicators for a webbased charting platform and sell those indicators to users of that platform.
I'm currently building an audience by writing at least one trading-advice a day on that platform - users see that advice and "like" it, follow me, comment it and hopefully get interested in the indicators I'm using in the charts of that trading advice - and then they buy the indicators.
I publish those advices to my webpage, StockTwits, Twitter and Facebook. On Facebook I currently have about 250 "fans". I share those short articles in trading-related groups on FB.
If I buy the premium plan of that platform, I'm allowed to make advertisements and post URLs to my products - this should increase sales. I plan to buy that premium plan with the first earnings/ income of my products.
I sold nothing on the first week, sales started with the second week, now I'm in week 4. I sold 4 indicators and finished two custom programming projects for users of that platform.
However - depending on how hard I push, in one or two weeks I should have the money for the premium plan. To be clear: I can afford to buy the premium plan without earning the money first but it is kind of a challenge. If I can make money without that advertisment feature, this proves that my products provide value and solve problems (#3: The Commandment of Need).
To make a decent income on that platform, I would need to become a "TOP" author that will be featured with other "TOP" authors on the front-page. Becoming a TOP-auther will take about a year (I've talked to other TOP-authors).
Problem is that I will be dependent on that platform and I'm still not detached from time (#1: The Commandment of Control and #4: The Commandment of Time). I love doing chart analysis and posting trading ideas but I would need to do this very regulary.
So for now I think I should keep on building my audience and try to increase sales numbers. If sales happen to be more regulary, I will play around with price and will switch from one-time-payments to subscriptions.
But I think I should also start to make a plan on how to be independent from that platform and make sales via seo/sem and my facebook-page (and maybe others).
Here are some of my ideas for monetizing my niche:
- I created an expert advisor for the MT4 platform - I'm not actively promoting this but selling the EA and creating new ones (and maybe provide programming services) could be a way to go.
- I could create a signal service
- I could provide an online course
- I could create an ebook/ how-to-report
- I could create trade-automation-tools for binary options and/ or cryptocurrency exchanges
- I could start a trade-copying service (based on my own trades)
- I could create Webbased applications for traders
There are so many lucrative things to do but I don't no how to find out which of them I should try next.
And of course there are several things I'm currently struggling with. I'm a father of four and my family keeps me very busy.
And I do have a day-job - it's well paid but it is a day-job ...
And there are so much things to learn that have nothing to do with my area of expertise, e.g. copy-writing, seo/ sem, facebook-marketing etc.
That's my story, any advice/ comment is appreciated.
Thanks for reading
stefcom
I have started several online businesses but never put too much energy into them so nothing moved forward - until 4 weeks ago.
I started pushing harder, had a few sales and now need to make a plan on how to continue with it. Writing down the status quo and my plans will help me to get clearer about my focus but I'm also highly interested in any advice on how to evolve my business.
My business is stock/ forex/ cryptocurrency trading related. I programmed proprietary technical indicators for a webbased charting platform and sell those indicators to users of that platform.
I'm currently building an audience by writing at least one trading-advice a day on that platform - users see that advice and "like" it, follow me, comment it and hopefully get interested in the indicators I'm using in the charts of that trading advice - and then they buy the indicators.
I publish those advices to my webpage, StockTwits, Twitter and Facebook. On Facebook I currently have about 250 "fans". I share those short articles in trading-related groups on FB.
If I buy the premium plan of that platform, I'm allowed to make advertisements and post URLs to my products - this should increase sales. I plan to buy that premium plan with the first earnings/ income of my products.
I sold nothing on the first week, sales started with the second week, now I'm in week 4. I sold 4 indicators and finished two custom programming projects for users of that platform.
However - depending on how hard I push, in one or two weeks I should have the money for the premium plan. To be clear: I can afford to buy the premium plan without earning the money first but it is kind of a challenge. If I can make money without that advertisment feature, this proves that my products provide value and solve problems (#3: The Commandment of Need).
To make a decent income on that platform, I would need to become a "TOP" author that will be featured with other "TOP" authors on the front-page. Becoming a TOP-auther will take about a year (I've talked to other TOP-authors).
Problem is that I will be dependent on that platform and I'm still not detached from time (#1: The Commandment of Control and #4: The Commandment of Time). I love doing chart analysis and posting trading ideas but I would need to do this very regulary.
So for now I think I should keep on building my audience and try to increase sales numbers. If sales happen to be more regulary, I will play around with price and will switch from one-time-payments to subscriptions.
But I think I should also start to make a plan on how to be independent from that platform and make sales via seo/sem and my facebook-page (and maybe others).
Here are some of my ideas for monetizing my niche:
- I created an expert advisor for the MT4 platform - I'm not actively promoting this but selling the EA and creating new ones (and maybe provide programming services) could be a way to go.
- I could create a signal service
- I could provide an online course
- I could create an ebook/ how-to-report
- I could create trade-automation-tools for binary options and/ or cryptocurrency exchanges
- I could start a trade-copying service (based on my own trades)
- I could create Webbased applications for traders
There are so many lucrative things to do but I don't no how to find out which of them I should try next.
And of course there are several things I'm currently struggling with. I'm a father of four and my family keeps me very busy.
And I do have a day-job - it's well paid but it is a day-job ...
And there are so much things to learn that have nothing to do with my area of expertise, e.g. copy-writing, seo/ sem, facebook-marketing etc.
That's my story, any advice/ comment is appreciated.
Thanks for reading
stefcom
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