I was having an argument with a friend over what defines an internet entrepreneur.

This argument however was laid to rest after listening to the recorded conversation between two old timers of internet entrepreneurship in Malaysia, Zamri Nanyan and Patric Chan, respectively a mentee and a mentor.

This recorded conversation in MP3 format basically is very informative and in length point out the do’s and don’ts when starting online business. I am personally grateful to Patric Chan for sharing his wealth of experiences in his field of authority. (The download link is closed but you can purchase the whole product here)

Just to give a bit of background, I was starting afresh doing full time in online business while my friend was doing full time in bakery and using the internet as his marketing medium.

The funny thing is I never heard Patric Chan literally voicing out his experiences before, in contrast to my friend that has been following him for a long time now, and even has bought one of his premium e-book package which is very expensive.

Well, according to Patric, internet entrepreneurship or having online business is not the same as making money online. He stressed out on the importance of building a solid foundation of assets instead of short term earning. And according to him, a lot of Malaysia internet marketers made common mistakes by not looking after the long term aspects of their business but rather focusing for new products while its still hot, he put simply as making money online.

In short,  the long term aspect will accumulate in momentum over time, in contrast to  the short term one that deteriorates. However, as Patric has suggested, any newcomer should start with respective 30:70 % ratio as further explained by the recording.

OK. So far so good.

But then as the conversation goes on, I was hit by a slap to the face. And I paused for a moment to the length it takes to really establish yourself as a successful internet entrepreneur, if you are a beginner.

To qualify one as full time internet entrepreneur, it is compulsory to have the following criteria;

1. Business Sistemization

- something about having business module that can be duplicated and expanded.

2. Predictable Income

- something about having a fixed or minimum amount of income per month

3. Ability to Create Instant Income

- very much the same meaning, an ability to utilize existing mechanism for short term earning.

To be frank, I had non of these, yet. Maybe a portion of no.1 as I was concentrating all my effort to long term goals due to reason stated in my previous post. I need to do my other 70% now.

Well Mr. Patric Chan sir, I got time to kill and I shall follow your advice to the letter.

Man, I got a long way to go.  PPC anyone?

(P/S: I fully recommend listening to the above said recording. There are many other important tips not mentioned here)

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