Integrate Your Online Advertising

In the "old days" of the internet, most people paid for traditional banner ads or headline ads, or they paid for advertising under what was called a cost-per-click or CPC advertising. CPC advertising used to be the most popular method of advertising out there. But getting statistics on what worked and what didn't wasn't easy.

Many people today also market with Google's AdWords. While this is great for Google, it isn't always great if you buy words and you don't see your hit rate go up.

What's becoming interesting in today's market are the alternative ways of advertising. E-mail marketing is alive and kicking--mostly through giving away a newsletter with insightful information and hoping readers will click through to your web site. Collecting e-mail addresses and sending valid offers, special events and discounts to those who sign up (and only those who sign up) can be a good way to drive visitors to your site. The monthly newsletters you send out need to showcase you as the go-to expert, but don't forget to feature some of your loyal customers and fans, too. People like to see their name in lights, and they often forward the newsletter to many others in the process. Make it easy to subscribe--and unsubscribe. This will help you comply with laws and also keep your visitors happy.

Using a blog and an RSS feed may seem overtly obvious or too simple in this market, but they matter. Your community needs to feel engaged. If you don’t yet have a fully integrated social media website with a community and people to upload avatars, bios, link to Facebook and so on, a blog is a good way for you to keep information and write columns that others can comment on. Ideally, you want to be moving toward a true Web 2.0 model and keep the blog going, too. WordPress and Blogger are two very easy ways to create blogs and integrate them into your website. Be sure you follow up on comments, too. The more engaged your audience is the more they will develop into a loyal group of customers.

You'll also want to write articles--and a lot of them. You can become a columnist for online organizations and magazines that need writers. Don't expect to be paid (though some do offer a small stipend) but it is acceptable to ask to have a link to your website in the biography section of the article.

I also always recommend posting in appropriate forums in your area of expertise. One word of caution here: Don't directly sell things to people reading these forums. That's a sure-fire way to be banned and to upset the people there. Instead, put your website in your signature and offer sound, solid advice.

Use new social media tools like Twitter (and of course the "old" staples like LinkedIn and Facebook). These networks are still valuable; keep information updated and don't forget to get personal once in a while. People like to know that the person behind the website is a real human being. Be informative but don't be afraid to let people see who you are.

Danielle Babb is the founder of The Babb Group, an online entrepreneur, a professor, an author, public speaker and consultant. She has a Ph.D. in Organization and Management with a Technology emphasis, as well as an MBA with a technology emphasis. She is featured regularly on top networks such as CNN, MSNBC, Fox News, Fox Business and the Today show. She is also the author of The Online Professor’s Practical Guide to Starting an Internet Business, available from Entrepreneur Press.

Don't Fear Failure

One of the reasons so many people don't become entrepreneurs is because they're afraid of failing. They're afraid of making mistakes. They're afraid of losing money. But if people can't overcome these psychological fears, they'd be better off keeping their day jobs.

In the early 1980s, when my first major business failed, I thought I was the stupidest person in the world. Being flat broke and getting calls from creditors made me wish I had never wanted to be an entrepreneur. I even wanted my old job back.

But instead of condemning me for failing, my rich dad gave me one of life's most important lessons: "You're fortunate to have failed. You now have the opportunity to learn how to turn bad luck into good luck. If you can do that, you'll have a life of more and more good luck."

Here are three key points for turning bad luck into good luck:

1. Don't blame. When my rich dad asked me what went wrong, the first thing I did was blame my partners and the economy. He immediately said, "Never blame anyone for your failures."

   "But it was their fault," I replied.

   Shaking his head, my rich dad said, "If you blame someone else, you'll never learn from your mistake. If you blame, you give your power away." Remember, there are no victims--only volunteers. And you volunteered to become an entrepreneur.

2. Meet new partners. My rich dad said, "In every bad deal, I have always met good people. Some became new partners." Still hating two of my partners, it was hard for me to understand this statement, yet I took my rich dad's advice and began sifting through the wreckage.
   
   Today, one of my best friends came from that business fiasco. In the ruins of other business failures, I met my current partner in real estate and another partner in my franchise business. If not for the failures, I wouldn't have met those fellow entrepreneurs and gone on to make millions of dollars with them.

3. Study your mistakes. "Mistakes are priceless," my rich dad told me. "Study them, learn and profit from them."
   
   Again, this lesson was hard to hear. Being angry and broke, I wanted to run from my mistakes. But rather than run from my failure, I went back to my factory, studied my mistakes and resurrected the business.
   
   This is how I turn bad luck into good luck. Remember, making mistakes and becoming smarter is the job of an entrepreneur; not making mistakes is the job of an employee.

Robert Kiyosaki (richdad.com), author of the Rich Dad series of books, is an investor, entrepreneur and educator whose perspectives have changed the way people think about money and investing.