VIEWS: 33 PAGES: 7 POSTED ON: 11/4/2009
So the five most effective ways to make money on the internet are… In no special order there seems to be five ways to make money online that are a cut above the rest. While many new, and seasoned internet business people commonly ask a variety of questions to those that profit online, it seems this is the most common one of them all; “What is the easiest way to make money online?” The answer to this question is ironically far from easy to explain, and thus I have taken a few minutes out of my busy day to try to convey it to you in this special report. What this report does is outline the five most cost effective ways to make income online. The report is based on my experiences as a self-confessed internet marketing geek that spends entirely too much time online creating new businesses. While some may be able to claim they make the most money with their internet businesses, I can easily claim the stake for having the most attention deficit disorder when it comes to online businesses. The lack of patience that has led me to testing literally hundreds of online business models is the same reason that my theory holds weight. After all it’s trial and error that often makes the most money for anyone doing business in any field, or market in the free world. Essentially making money comes down to cost, and profit, and more importantly, the cost of doing business, and the limit of profit available. One would ideally want to limit the cost of doing business to as little as possible, while making the amount of profit potential as large as possible for a product. Here is an example of what I’m trying to get at with this point: The ice cream man spends $100 on ice cream supply for his truck each day; the $100 allows him to sell a maximum of 50 ice cream bars since each one costs him $2 to purchase wholesale. The cost of doing business for this product is high, and the potential profit is low, since the most he can sell is 50 ice cream bars, even if he sells them for double his cost, he can only make in profit $200. This might sound like a lot of money for one days work, but in fact it is not, because he can only sell as much as he can afford to buy. The internet has allowed us to sell products in new ways, and has revolutionized the way one can earn a living. While there are virtually endless ways to make money online there are very few that keep the cost of doing business down, while allowing the potential profit level to stay extremely high. Of those business models that allow for this equation to come to light, five of the most effective models are the ones that stand out as no- brainer business models for those eager to succeed in the online business world. They are in no special order the e-book, the AdSense optimized website, the retail product website, the opt-in website, and the custom software retail website. Each of the above models offer a unique sure fire way to make money online if one follows the techniques outlined in this report. I still make money off an e-book I wrote months ago, and I plan on keeping it that way. Most e-books are virtual goldmines that can produce income for months, and years to come in the future. E-books cost little to create, and if you have some skills at writing, they can cost you nothing to create. The information that is included can make you a lot of money, and I mean a lot of money. The key to making money with an e-book is to think of what people would like to know, and what you might be able to share with them that they don’t already know. This means that you should search your soul for experiences, jobs, privileged information, and any other thing that might be worth sharing. What is valuable to others is your experience, and your life lessons that can help others succeed. Look at a successful e-book , and you will see something that people want to know about, and are willing to pay for it. Find something that you can share, that would be worth a few bucks to others. If you have nothing that you can think of to share, that’s okay, go out and create an experience that you can write about in the future. My most popular e-book was about a business I owned that made a modest income each month. The ironic thing is, the e-book made me more money in one month than the actual business had in its short lifetime. The lesson is to seek out experiences that might be good to share with people in the future. You’d be surprised at what others are willing to pay to read about. Last month I made $32 with AdSense on a free Blogger.com blog. Look I’m not claming you’ll be printing money with this business, but let’s say you did 10 blogs at an equal rate of success, that wouldn’t be a bad chunk of change now would it? So, AdSense is another way to make money online. The thing that makes AdSense such a viable tool is that it is free to use, and the income potential is enormous. As I noted above, the key is in multiples. Making money with AdSense is not having one website, it’s have a dozen. If one takes a significant amount of their time to properly outfit a dozen niche websites with AdSense, and give people a reason to check them out, they will reap the benefits. Sine AdSense won’t send you money until you’re making a hundred bucks or so, it is important to create positive momentum and setup multiple sites right away. For me, it meant doing a blog that was for a niche, and making sure I had some quality traffic going to it daily. For you it might be about setting up a website based around a high keyword paying term like medical malpractice, or mortgage loans. Whatever the niche, simply think in multiples, and you will see why AdSense is such a great way to make money online. Retailing online seems to have both grown, and become mute at the same time. Retailing online is as big as ever, yet it’s not as glamorous as it once was before the bubble burst in the late nineties. Selling items online is a science, and thus can be mastered by anyone willing to spend sometime doing market research. The key for anyone interested in retailing online is to find a product category that they have a passion for, because if the passion exists, so does special knowledge that one can leverage to better their business. Simply select a retailing category that seems right for you, and start doing research on the competition. Once you find out what your competition is selling a product for, start looking for suppliers. Only buy from suppliers that offer you products at 50% off the retail price or greater. In fact, since many products on the internet sell for a discount, look for your wholesale price point to be at 70% off retail. This will allow you enough room to undercut your competition, and still make a profit. Once you have located a supplier that meets your needs, jump through whatever hoops it takes to get the product to your house. That might mean creating a business tax ID with your local government, or using a credit card to spend a few hundred bucks on stock. Once the product is in your hands, the fun can begin. What separates you from the average online retailer is your internet marketing knowledge. You have to have some marketing knowledge, or you wouldn’t have found this report. The point is, you should now look at yourself as a seasoned solider that is off into battle with a bunch of first-day-on-the-job rookies that can’t figure out how to fire their pistol. Most retailers are not internet marketers, and thus have no idea how to market the product. It is at this point that you begin to take down the competition with two main efforts, the price, and your marketing. The price point should be lower than all others, and it should never be an issue since before the product was ordered you would’ve already researched the other retailers first, and held yourself to a standard that would only allow you to buy products at way below retail. As long as you hold the cheapest price for the product, you are ready for phase two. Phase two is simply utilizing all elements of internet marketing to sell your product. That means uploading articles with links, doing free blogs with pings, and RSS feeds, as well as getting affiliates, giving out cash incentives, and making your website a high rank in Google’s natural results. However, your biggest weapon of all can be doing a targeted AdWords campaign, since many marketers have a knack for making AdWords a traffic driving machine. Utilizing your marketing strengths, and combing it with a low price promise, will make your retail website, no matter how new, a profitable one. On Mike Filsame’s website I noticed a note under the contact me tab that stated he wasn’t doing any JV’s at this time because of his list getting tired of hearing from him. What does this statement say about opt-in lists? It shows that even the biggest marketers are hitting their opt-in lists hard with offers all the time, because they realize that an opt-in list is one of the most powerful tools on the net today. Having an opt-in list is like a virtual bank, that you can turn to and get cash whenever you need it. I have seen the power of the email list with my product, 50 businesses in a box that has mostly been marketed just through lists. It’s amazing how many people buy a product from a list recommendation, and it’s even more amazing how much quality, life long customers, one can get from cultivating an opt-in list. This is why creating an effective opt-in list should be an absolute must for anyone that is serious about internet marketing. If you have no idea how to create an opt-in list, start with the basics. Get an auto responder that will provide you with the HTML code to plug into your site, I recommend aweber simply because it’s so marketer friendly. Once you have your auto responder code on your site, just give people a reason to come there. Share some information with them, and give them something for free in a swap for their email address. If you don’t have any ideas, try spending some cash on a PLR product that you can give away. Just find a PLR product that catches your eye, and chances are it will cast your potential opt-in customers eye as well. Finally custom software can be the internet marketer’s gift that keeps on giving. This nifty idea is used by some of the biggest and brightest names in internet marketing today. Don’t allow yourself to be bogged down by the technicalities of coding software, just remember the cost of doing business is low, and the potential profit is high, very high. Creating software to retail is as easy as finding a need, and meeting it. Just look at your daily routine online, and ask yourself the simple question, what could be done better on the computer each day? There will be mounds of ideas piling up in no time. If you don’t have any ideas after awhile, simply ask your friends. Find out what is a big pain in the neck when it comes to using a computer, and fix it. Since most people have no clue how to code a program, just go to scriptlance.com, and post your project. When doing so, just tell them it’s an easy program to create, and you’ve only got a few bucks to do it. You should get plenty of bids from budget minded programmers that will take your vision, and make it a reality. Marketing your custom made software is not hard since there are literally hundreds of sites that you can upload trial software for free, and hit people up for money after 30 days of them trying your program. This method will work well for any original idea that is not yet being serviced by any software providers, after 30 days if your software is truly helping the customer, you can count on most of them paying whatever it is you ask them to pay. If you would like for me to give you a detailed accounting of these methods, you should check out my new e-book that gives you 10 different business models for each of the above methods. I’ve even tossed in some industry contacts, some supplier names, and contact information, and some never before released information about making money with the above methods. To top it off, the link gives you a special discount just because you took the time to read my report, and I wanted to hook you up. You can check it out at: http://www.50businessesinabox.com/prod.php?ref=admin&prod=specialoffer Thanks for reading my free report, and I wish you all the success in the world. My very best, Clark Covington Clark Covington firstname.lastname@example.org
"Make Money Off The Internet"