I am going to start an article series with this post about the 5 Cornerstones that will make up my Online Money Making Empire. 

 I have projects underway in each of these categories with mixed results which I will share as the article series progresses and I fully intend to share the methodologies that I use and the results that I achieve.
 

Building an empire is like building a skyscraper. 

You can’t do it quickly and if you fail to plan properly at the beginning of your endeavor then you are sure to meet with disastrous consequences down the road.   You would be wise now to spend the time developing a solid plan to help you meet your goals and keep you focused as you progress.  Some of the many questions you will want to be able to answer are below:   

• Where do you want to go?
• How are you going to get there?
• What methods are you going to use to succeed?
• What assets are you starting with? 
• Liabilities?

The list could go on and on but you get the idea.

A strong foundation will allow you to build higher than you ever dreamed possible but a weak foundation will never allow  you to build very high before things begin to crumble. 

Business Plan

If you visit any Barnes and Noble bookstore you will find row after row of books on the topic of business plans…most of which I suspect were written by someone who has never even managed, let alone started a business.  While I might disagree with the motivation or qualifications of some of the authors, I wholeheartedly agree that a vital piece of your foundation is a solid plan.

The depth and level of business plan that you develop is dependent on many things not the least of which would be what kind of entity are you building, how are you structuring yourself, are you trying to obtain any capital funding etc.  You will have to research and decide for yourself how in depth your business plan should be for your own personal situation.   

My business plan includes engaging in multiple income streams simply because I am of the thought process that the more lines you have in the water then the more likely you are to catch a fish.  I admit that I am not a big fan of broad diversification as I would rather devote more time to fewer projects than less time to more but the 5 streams of income I have selected are all very similar and can intertwine with the others quite easily.

The Cornerstones

The “cornerstones” of my plan include 5 main channels of income.  I have included a snapshot of a piece of my business plan below that will illustrate my thought process and  give you a small glimpse at the overall plan.  This one slide is quite simple but I have dozens of other more detailed slides that outline the nitty gritty of my intended path.   I am a visual kind of guy and it works better for me to be able to visualize my plan on paper.  When I am looking at the flowchart it starts to make sense how each cornerstone can interact with another.

 The Big 5 

 1. Affiliate Marketing – Unlimited potential and so many channels available here that this will
    be an entire article series all by itself. 

 2. Content Websites – The key to content sites is driving the traffic to them.  I have read many
    online gurus who are a fan of putting up dozens of these, adsensing them and hoping for the
    best.  I am not of that mindset.  I think the right sites that fit with my overall plan will
    make be my target.

 3. Blogging Community – The Blog is the ultimate self promotion activity.  It will build your
    credibility in the online community if you deserve it. 

 4. E-Commerce – I use the E-Commerce tag but my main source of income in this category will be
    my two Ebay stores.  My wife runs them currently and they have grown considerably since we
    started them a year ago, so much so that quitting her day job at the bank is very much a
    possibility if she chooses to do so.

 5. Website/Domain Flipping – All the rage lately.  I have little to no experience in this area
        but I intend to give it a go.   

Looks simple enough right but it bears repeating that each of these 5 cornerstones has a NUMBER of more detailed flowcharts attached to it.  I have spent months planning and modifying my intentions and I am already experiencing some decent success in a couple of the categories.  

Our Ebay venture is producing enough income that my wife will be able to quit her day job if she so chooses…not bad after about 6 months.

 I can’t wait to share the details with you as they develop in the coming weeks….make sure you subscribe to my RSS and you will be able to either watch it take flight or see it come crashing to the earth in a twisted, smoking heap. 

What are your cornerstones?