MVK Minimum Viable Knowledge for making money online or off.

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MMO, starting a business, what is the least you need to know?

Minimum Viable Knowledge (MVK), what you must know to make money online (or off). From Warriors for Warriors.

From Jason Kanigan; TRAFFIC and CONVERSIONS, and some add targeted traffic. As for the conversion part of it, savidge4 says; Title (headline), Image, Price.

And even before this how-to, you need a product/service to offer. The two primary schools of thought would have you either find buyers for a product, or create/acquire products for buyers already spending money.

This is the minimum viable know-how you need to make money online, or off. It is simple, until you begin to answer the questions of who, what, where, when, why and how? For one of the most simple examples you can look at eBay, etsy, or even Facebook marketplace, where everyday millions of dollars exchange hands between buyers and sellers.

I know a guy who makes clay products, like mugs and bowls, and offers them on these platforms where known BUYERS exist. He would then focus on the 3 parts savidge4 talks about; creating good images, having the price and a good headline (title) so as to be found in the noise of these giant platforms. But this is MINIMUM info, cause he also has to send his products out, adding another layer to the business.

One reason why guys like me chose information over in-hand products was to eliminate that part of the process, although many, if not most of the businesses selling products need to send them to customers.

It is a reason why there is so much interest in DROP SHIPPING, where someone new to the game has that back-end of the sale taken care of for them...and also why AFFILIATE marketing is so popular, no product creation/acquisition needed. The downside of these are tons of competition, so many selling the exact same things.

But just because there is a ton of competition, that doesn't mean you can't join in, and if you do some of the things better than those already out there, you stand a chance of success.

These are basic questions you might try to answer BEFORE you dive into IM,MMO or marketing at all:

WHAT will you be offering? To WHOM? WHERE are these prospective buyers at right now and how do you plan to let them know about your offer? What price and why do you offer it at that price?

HOW will your offer be delivered, will it require mail or delivery? Can it be a download or digital thing?

Now this is a few minutes of thought, doesn't require years of study, so feel free to add to what you think is the MINIMUM KNOW HOW, so one can begin to make money online (or even off)?

Do you have a more complicated thought process to get started?

GordonJ
#knowledge #making #minimum #money #mvk #online #viable
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  • Profile picture of the author Monetize
    Originally Posted by GordonJ View Post

    MMO, starting a business, what is the least you need to know?

    Minimum Know-How? No offense to you OP but that is why
    there is such a high failure rate in this industry, it is because
    so many people want to skate with a minimal amount of
    effort and skills.

    But to answer your question, the absolute minimum skills a
    person needs is reading and operating a smart phone, tablet,
    laptop, or desktop.

    Personally, I don't like to fiddle around with a phone but you
    can trade stocks, watch/produce videos, and read.

    Other necessary skills depend on the individual and how
    they plan to MMO. Some things can be outsourced, but for
    a beginner, it helps to possess relevant skills.

    Important attributes include initiative, organization, being
    teachable, thinking outside the box, following instructions,
    curiosity, and goal setting.

    As to traffic, there are so many marketplaces that have
    built-in traffic, I wish you all would stop telling newbies that
    they need to figure out how to get traffic as it only confuses
    and discourages them.

    Besides eBay, Etsy, Amazon, and FB there are platforms
    and marketplaces for print on demand, code and apps,
    courses, publishing, videos, etc.

    The knowledge comes with experience, and I think that
    newbies should start with whatever they have available
    to them and stop trying to re-invent the wheel.
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    • Profile picture of the author GordonJ
      Thanks for your response, I disagree with most of it, here's why:

      I don't know the reasons for high failure rates in this industry, or in any other one. At one time in the old world, it was reported that 90% of new business start-ups fail in the first five years. I do know this figure did not include all the home based biz start-ups, or it would have been closer to 99.9%, when things like mlm/network marketing, work from home biz-op, and other home based biz ideas are included.

      I'm pretty sure some do fail because they want to skate by with minimal effort, but that isn't what I wrote in the OP...and I can not find data, even with using ChatGPT that supports the assertion so many people want to skate with minimal amount of knowledge and skill. Maybe you have access to data I don't? I do have 25 years of Warrior Forum anecdotal experience that shows there is SO much to learn, that information overload and confusion set in rather rapidly here.

      Which is one reason I wanted to simplify it down, boil it to the essence, or minimal viable knowledge, and not overwhelm Warriors just starting out.

      Also, I assume that any Warrior here has the ability to access the posts, even via braille or foreign language translations, I assume the jab about reading is sardonic.

      There is a trend which seems to be growing exponentially of businesses and Entrepreneurs who are using their cell phone (computers) to conduct their business, and maybe we'll see a death of the desktop, however, I also do not use my phone as extensively as younger people do.

      As for TRAFFIC and your wish we all would quit confusing the newbie with telling them the need for getting traffic...well, I see us telling them the NEED for without so much the getting of. All the Warriors I mentioned, and myself, have long told newbies to go to the platforms where the traffic is. In fact, savidge4's long thread on eBay is now one of the most referenced HOW TO mmo we have. It makes sense to go where traffic flows, we point out it is a BASIC minimum piece of knowledge one needs. I don't think I will stop telling them about the need for traffic.

      I know that you will find scores of my posts here which says a newbie should start where they are at with what they have. No dispute here. In the OP, the MVKnowledge IS a foundation, a place to put other building blocks...but even then, for the motivated people, it may be all they need to read (hear, feel, etc.)...

      NEWBIE, you need something to sell...and someone to sell it to.

      Start with that, and the answers appear as soon as you start the process with the decision of which one you want to begin with, a product or a buyer. From there, it becomes obvious one has to learn the nuances of getting THEIR money, into your pocket. MVK.

      GordonJ










      Originally Posted by Monetize View Post

      Minimum Know-How? No offense to you OP but that is why
      there is such a high failure rate in this industry, it is because
      so many people want to skate with a minimal amount of
      effort and skills.

      But to answer your question, the absolute minimum skills a
      person needs is reading and operating a smart phone, tablet,
      laptop, or desktop.

      Personally, I don't like to fiddle around with a phone but you
      can trade stocks, watch/produce videos, and read.

      Other necessary skills depend on the individual and how
      they plan to MMO. Some things can be outsourced, but for
      a beginner, it helps to possess relevant skills.

      Important attributes include initiative, organization, being
      teachable, thinking outside the box, following instructions,
      curiosity, and goal setting.

      As to traffic, there are so many marketplaces that have
      built-in traffic, I wish you all would stop telling newbies that
      they need to figure out how to get traffic as it only confuses
      and discourages them.

      Besides eBay, Etsy, Amazon, and FB there are platforms
      and marketplaces for print on demand, code and apps,
      courses, publishing, videos, etc.

      The knowledge comes with experience, and I think that
      newbies should start with whatever they have available
      to them and stop trying to re-invent the wheel.
      {{ DiscussionBoard.errors[11789077].message }}
      • Profile picture of the author Monetize
        Originally Posted by GordonJ View Post

        Thanks for your response, I disagree with most of it, here's why:

        I don't know the reasons for high failure rates in this industry, or in any other one. At one time in the old world, it was reported that 90% of new business start-ups fail in the first five years. I do know this figure did not include all the home based biz start-ups, or it would have been closer to 99.9%, when things like mlm/network marketing, work from home biz-op, and other home based biz ideas are included.

        I'm pretty sure some do fail because they want to skate by with minimal effort, but that isn't what I wrote in the OP...and I can not find data, even with using ChatGPT that supports the assertion so many people want to skate with minimal amount of knowledge and skill. Maybe you have access to data I don't? I do have 25 years of Warrior Forum anecdotal experience that shows there is SO much to learn, that information overload and confusion set in rather rapidly here.

        Which is one reason I wanted to simplify it down, boil it to the essence, or minimal viable knowledge, and not overwhelm Warriors just starting out.

        Also, I assume that any Warrior here has the ability to access the posts, even via braille or foreign language translations, I assume the jab about reading is sardonic.

        There is a trend which seems to be growing exponentially of businesses and Entrepreneurs who are using their cell phone (computers) to conduct their business, and maybe we'll see a death of the desktop, however, I also do not use my phone as extensively as younger people do.

        As for TRAFFIC and your wish we all would quit confusing the newbie with telling them the need for getting traffic...well, I see us telling them the NEED for without so much the getting of. All the Warriors I mentioned, and myself, have long told newbies to go to the platforms where the traffic is. In fact, savidge4's long thread on eBay is now one of the most referenced HOW TO mmo we have. It makes sense to go where traffic flows, we point out it is a BASIC minimum piece of knowledge one needs. I don't think I will stop telling them about the need for traffic.

        I know that you will find scores of my posts here which says a newbie should start where they are at with what they have. No dispute here. In the OP, the MVKnowledge IS a foundation, a place to put other building blocks...but even then, for the motivated people, it may be all they need to read (hear, feel, etc.)...

        NEWBIE, you need something to sell...and someone to sell it to.

        Start with that, and the answers appear as soon as you start the process with the decision of which one you want to begin with, a product or a buyer. From there, it becomes obvious one has to learn the nuances of getting THEIR money, into your pocket. MVK.

        GordonJ

        And I respectfully disagree with the entire premise of this
        whole thread.

        You asked what the minimum amount of knowledge was
        required to start a business. That is the problem. People
        want to be in business with minimum effort. They want
        to make money while they sleep.

        You gotta make money while you are awake before you
        can make it in your sleep, right?

        I did not use the term "skate" as an assertion, it is opinion.
        Dealing with people, reading this forum, watching news,
        etc. I have determined that most people are lazy.

        But I can't prove it.

        Most people fail at business, and most people who try to
        MMO don't make anything.

        That's just a fact.

        "NEWBIE, you need something to sell...and someone to sell it to."

        Obviously, if I have some in-demand desirable rarity that
        I put up for sale on the internet somewhere, I don't need
        to go looking for customers.

        The eBay thread is great, but there are at least 250 ways
        to MMO that is on my curated list.

        I will leave it at that.

        Peace out and have a nice day.

        I gotta go make some more money. While I sleep.
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        • Profile picture of the author savidge4
          Originally Posted by Monetize View Post

          The eBay thread is great, but there are at least 250 ways
          to MMO that is on my curated list.
          Lets break this down to its absolute simplest of terms.... I am a serial entrepreneur... I operate online and offline... I operate in retail, service, consulting, and any other category of business you can think of. REGARDLESS of the business' FORM and FUNCTION remains the same - UNIVERSALLY.

          What exactly is that Function? From Jason Kanigan; TRAFFIC and CONVERSIONS. I will say this again - this is UNIVERSAL. Take these Universal Concepts of FUNTION, and start looking at their forms and you are left with 3 primary elements; Title (headline), Image, Price.

          I personally operate 1 business model and 1 business model only, and again Universally across anything and everything i do. I get Traffic, and I convert Traffic.

          Without Traffic you have nothing. Something as basic as signing up for some multi level marketing stuff and asking your MOM to sign up - Kids, THAT is traffic. When you speak about commercial Real Estate... what is the quintessential term used? Location Location Location - and how is this determined... In a mall it would be determined by foot Traffic, for a restaurant it is determined by car Traffic, when determining what to sell on eBay, this can be determined by looking at the number people that have bought said item in a 90 day period vs how many are listed - again this comes down to Traffic.

          If you are selling anything - Traffic should be / IS the #1 priority and then #2 is converting that traffic.

          WHAT you are selling makes a rats tail of a difference. HOW you get people in front of the offer is what makes or breaks you. And 1 more time, THIS is universal across any and every online or offline business endeavor.
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        • Profile picture of the author GordonJ
          We see a lot of newbie posts here, which is good. And we see some Original Posts by more experienced Warriors, and often they have the intent to begin a discussion.

          That was certainly my intent with this OP, Minimum Viable Knowledge (MVK) because there is 20+ years of tens of thousands of posts from beginner's asking the same questions over and over...and because IM is dynamic and the Parade Of Life never stops, we welcome the new person and hope we can give them useful information.

          Anyone who spends a few minutes here will find an archive of curated HOW TO posts which have as much useful, practical and applicable info as most high cost courses.

          IT CAN BE OVERWHELMING. And there are scores of threads about shiny objects, distractions, overload, getting stuck and not knowing what to do next...or after that.

          It can be confusing. It can be overwhelming...but it doesn't have to be. I've never advocated a lazy approach, lazy people and I don't get along, so much for like attracting like. It is a given in my mind that an Entrepreneurial desire comes with the work ethic for its achievement, otherwise they wouldn't be considered Entrepreneurs, would they? Not in my mind.

          So, the intent of MVK, or min. knowledge is to get a new Warrior off to a fast start, and to eliminate a lot of the confusion and information overload, as I clearly stated in one of my responses. I multi-quoted here, just to address certain ideas from each response...and I will probably edit down to get to the parts I am responding back too (for the poster quoted, just to save space and time).




          Originally Posted by savidge4 View Post

          ...

          Title ( headline ), Picture, and cost are an absolute minimum in getting traffic... but once you have it ( traffic ) there are further added variables that can be addressed to increase conversion - buyers intent - answering question - Value Proposition - Unique Selling Proposition

          But back to the absolute basics... All of this is all fine and good, but no traffic and its absolutely worthless.

          Learn and understand Traffic - any single method, be it SEO, or ads across what ever platforms or Social or whatever... and MMO is easy - Money on trees easy. There is also the option of platforms with built in traffic ( Amazon, eBay, Etsy etc ) I suggest, that Platforms with baked in traffic is a great place to start, to understand the 3 basic variable in building traffic ( Title ( headline ), Image, and cost )
          eBay is a great place to start, I start all my new infopreneurs at GUMROAD, a platform with traffic which does it all for you, one just needs to supply the TITLE (headline), A PIC, and Description. I make them use Gumroad because it is MINIMUM KNOWHOW required, of course, one can and should learn how to build out THEIR business from there, but why not use one of the platforms with the built in traffic and perfect the elements in the beginning of the journey...no need to wait until one understands "everything".




          Originally Posted by dave_hermansen View Post

          If you are simply talking about website to website - what distinguishes yours against the competition - the answer is obvious ... yours is easier to navigate or provides vastly better information than the competition.

          .
          For me, this is a mantra which I have used for decades, I have no competition. It isn't hard to provide vastly better information than much of the competition, especially those who have fallen in love with AI.

          Originally Posted by Monetize View Post

          And I respectfully disagree with the entire premise of this
          hole thread. You asked what the minimum amount of knowledge was required to start a business. That is the problem. People want to be in business with minimum effort. They want to make money while they sleep.
          ...

          The eBay thread is great, but there are at least 250 ways to MMO that is on my curated list.
          I gotta go make some more money..
          We've curated over 377 Hidden Business Ideas, those little known, seldom discussed ways of making money online and off for over 24 years now...and on our list, every single one of them involves a TRANSACTION, an exchange of value, even in barter situations.

          I would ask you how many of those 250+ ways of MMO do NOT have Buyer/Seller relationship?
          Also, we Warriors do appreciate all working people who stop by and share their wisdom and experiences with us, we do know you all are busy out there making money, sleeping or otherwise. Having been retired for a decade, I have the time between lottery draws to post up ideas, theories, and content which I think many a Warrior might find useful.

          If they don't, that's OK too. The idea of MVKnowledge is to get the newbie to think in simple terms, not to overwhelm them with 250 or 377 ways they could make money online (or off)...but to get some basic ideas laid down.

          Simple ideas: like; you don't get paid for doing nothing.

          And, you don't have to know everything before you start. And by reducing the need to know-how to basic terms, in no way encourages anyone to take the lazy do nothing route...although it is human nature to take the path of least resistance and it is no secret in IM and MMO, there are plenty of guys who shout from the ads, the videos, the tweets,etc, that MMO is easy and anyone can do it. We see here, for going on 25 years now, that just doesn't seem to be true.

          I simply say start with some BASICS, some foundational building blocks and go from there, and I am always at PEACE. No discord enters my mind, ever.

          GordonJ
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  • Profile picture of the author Princess Balestra
    My Vacuous Kunnyhole

    Naw! Waitamiinit! This ain't noplace to run with precision don't make no kinda point!

    Hey, so how 'bout Munchy Very Kinda?

    tbh I cruise the malls for zucchini with 'sentyouyall nootrients cummin' always seckind to kinda SHAPE.

    Dunno.

    Get frickin' hands-on with stuff, I guess.

    NOW I AM PERFECTLY FREE TO DO XYZ.

    Long asya don't care shit stuffs squoits inya face from time to time, prolly you gotta pull on the levah d'ohlivs maxo jooso.

    Maximum Venture Kaizen!

    (see you could mebbe plundah an active alphabet of 26 optschwaahns for all kindas stuffs gowin' on -- jus' depends whethah you wanna be anally acronymicyool steada yoonivsally availabyool, I guess.)

    Merciless Visibility Kiosk

    Uhm .. nopes.

    Cathlicks bagged that fkr lahng fore'n brandin' evah got startid.

    How do we know?

    Bcs the screams of the anonymously whupped an' abyoosed delivah us always from the evils of CHOCKLIT.

    (Less'n you like Moi an' can vamp out on most anythin' an' still struggle to fill like Size Nuthin'.)

    So ima stickin' with My Vacuous Kunnyhole till'n nuthin' smartah shows.

    An' I would wish for wan an' all to be similarly spectacularly discriminatory.

    NOW YOUR VOICE CAN HAVE MORE SAY!
    WELCOME THE NEW -- AND AMAZINGLY LIFE-CHANGING -- 27th LETTER of the ALPHABET!

    Like Ogilvy said, 99% of your advertizin' dollah is in red, which is why I wore braces slapped hard an' fast ''pon my very nipples steada contemplate existenshuaal oblivion.

    (As yr natchrl Princess, ima hopin you wanna grant me interpretayschnwaahl privlidges here, bcs frankly if'n you don't, I don't cayurre. Guy is dead anyways so WTF.)

    Intrestin' facts 'bout marsoopial bonhomie will likely now follow if'n you signed up for the WARRIOR FORUM CHOICE kinda choice optschwaahn thang.

    Meantime, it is mebbe 'jus yanno ...
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    Lightin' fuses is for blowin' stuff togethah.

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  • Profile picture of the author dave_hermansen
    If you are simply talking about website to website - what distinguishes yours against the competition - the answer is obvious ... yours is easier to navigate or provides vastly better information than the competition.

    How do you do that? You start with you competitors' sites and see what they do well and what they don't do well compared to other sites online. Borrow the best ideas from 5-10-20 websites and combine them all into your website, and, if you have an original thought or two on your own that makes your site better, do it! Even if you add nothing original at all (idea-wise), combining the best of the best will clearly put you head and shoulders above the rest of the sites.

    The premise is simple ... if your website and product pages are so good, there is no reason for someone to go searching for unanswered questions, they won't, which means you have an excellent shot at visits turning into sales. If, however, people still have unanswered questions after visiting your website, they WILL seek them elsewhere and they may never return.

    BONUS: Having the best information on any particular product or service WILL eventually help your SEO because your user metrics will be better than any other site in you market niche.
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    We help sellers get the MAXIMUM amount for their websites and all buyers know that these sites are 100% vetted.
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    • Profile picture of the author savidge4
      Originally Posted by dave_hermansen View Post

      If you are simply talking about website to website - what distinguishes yours against the competition - the answer is obvious ... yours is easier to navigate or provides vastly better information than the competition.

      How do you do that? You start with you competitors' sites and see what they do well and what they don't do well compared to other sites online. Borrow the best ideas from 5-10-20 websites and combine them all into your website, and, if you have an original thought or two on your own that makes your site better, do it! Even if you add nothing original at all (idea-wise), combining the best of the best will clearly put you head and shoulders above the rest of the sites.

      The premise is simple ... if your website and product pages are so good, there is no reason for someone to go searching for unanswered questions, they won't, which means you have an excellent shot at visits turning into sales. If, however, people still have unanswered questions after visiting your website, they WILL seek them elsewhere and they may never return.

      BONUS: Having the best information on any particular product or service WILL eventually help your SEO because your user metrics will be better than any other site in you market niche.
      I am so glad you chimed in here, your post: ( https://www.warriorforum.com/ecommer...l#post11788966 ) was in a way eye opening - this is what I have done over the years, but this specifically states specifically why one would do this. I ( Personally ) buy cheap stuff in bulk and sell from personal inventory, but as the expense of shipping increases, yeah I find avenues of drop shipping - Large format TV's being an example.

      Digging deeper into information, I will use eBay as an example... there are many sellers that use an absolute bare minimum in terms of item description. Watch some people on Youtube that basically leave the description box empty and hear them complain about all the questions that get asked about any given product.... Well DUH... fill in the description with any and every possible answer to a question that might be asked ( physical size of an object being an example ) and the questions and more importantly the friction from buying from you is drastically reduced.

      Title ( headline ), Picture, and cost are an absolute minimum in getting traffic... but once you have it ( traffic ) there are further added variables that can be addressed to increase conversion - buyers intent - answering question - Value Proposition - Unique Selling Proposition

      But back to the absolute basics... All of this is all fine and good, but no traffic and its absolutely worthless.


      Learn and understand Traffic - any single method, be it SEO, or ads across what ever platforms or Social or whatever... and MMO is easy - Money on trees easy. There is also the option of platforms with built in traffic ( Amazon, eBay, Etsy etc ) I suggest, that Platforms with baked in traffic is a great place to start, to understand the 3 basic variable in building traffic ( Title ( headline ), Image, and cost )
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  • Profile picture of the author savidge4
    In an attempt to get this thread back on track ( I think this topic is really important for those starting the journey - or for those that have been dragging a long for a period of time. ) Saw this video the other day that applies for sure


    Yes it is niche specific, but the entire video applies universally
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    • Profile picture of the author GordonJ
      Originally Posted by savidge4 View Post

      In an attempt to get this thread back on track ( I think this topic is really important for those starting the journey - or for those that have been dragging a long for a period of time. ) Saw this video the other day that applies for sure

      https://www.youtube.com/watch?v=AgnSfUoEsIw

      Yes it is niche specific, but the entire video applies universally
      Thanks savidge4,

      Starting with borrowed tools, from scratch, little money...this HOW TO video should be a must watch for any serious Warrior who wants to build their Online Business. I do like, especially, how he acknowledges he wish he would have started with a plan...and later even gives an example of a business plan.

      From where you are at, with what you have, to where you want to go, and the daily activity to make it happen. More proof it can be done.

      GordonJ
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