As mentioned in my last blog post, I want to address the subject of making money online. Primarily I want to focus on what to sell and how to do it. However, in this post I want to run through the various ways you can make money online if you are just starting out. Some of this advice would be useful if you already run a small business and would like to supplement your income from one or several other income streams.
Products to sell...
Okay, I get asked quite often by newbies and wannabes, forgive the expressions, about what to sell on the Internet. First of all you can sell your own product, and if you don't have one you can create one. For example if you're particularly good at coding you might want to consider making an app, or a piece of software that can help others get things done faster and cheaper. Another way to create your own product is to write an ebook.
Listen up guys... anyone can write an ebook but the best subject to write about is one that you are very knowledgeable about or very experienced in. People will always be willing to pay for information that will help them in some way. Information products account for many millions of dollars in profits every year so why try to reinvent the wheel?
If you are the creative or inventive type you might have a unique product or just an idea waiting to flourish. Don't leave it... create it and sell it!
With ebooks you can sell them direct from your own website, put then on Kindle or Lulu or get others to sell them for you. I'll be covering some ways and means to sell your products and services in my next post
So, could you create a course about a subject that people will pay for? A video course is best. Having your own product can make you very rich, very quickly as long as there is a market for it. You also get to keep 100% of the profits, so there is a real incentive to work on that thought.
Now for those who don't feel very creative or hate the thought of writing or don't have the time blah... blah... blah... don't worry. There are many other options...
The main alternative option is to sell someone else's product for a commission. This is known as affiliate marketing. First port of call for this money earner is Clickbank (www.clickbank.com). Join Clickbank for free, choose products from the many categories and sell them. Some will pay you as much as 75% in commissions and believe me when I tell you that many millionaires have been created through this method.
Another commission orientated opportunity is CPA offers. CPA stands for Cost Per Action, and it simply means you will get a commission for getting people to buy or to simply put their name and emails into a form. This is lead generation, for which many big companies will pay you handsomely. Go over to www.maxbounty.com and take a look.
If selling is your thing then go the whole hog and sign up for as many affiliate programs as you can handle. Just Google "affiliate programs" to get started.
On the same them is PLR. Private Label Rights allows you to buy and sell the creator's product as if it was your own. Basically, you go to a site like www.idplr.com and buy a product with PLR. You can then customize it and make it your own, then sell and keep all the profits.
Services to sell...
If you don't want to get into selling products then you might prefer to make money selling your services... like I do.
Again, if you're the creative type you could create banners, logos or images for people to use on their websites and in their advertising campaigns. If you're good at coding or know Wordpress inside out you can offer to design and build websites, although competition is fierce in this industry.
Good at taking photos? Then get clicking and get over to the many photo selling websites like www.smugmug.com or www.depositphotos.com or any of the tens of good photo selling sites. You'll need to be taking photos every day to build up a large collection, and they need to be top quality HD images.
Are you good at writing? Are you good at drawing? Are you good at languages? Are you good at teaching? Just make a list of all the things you are good at and see if you can turn this skill into a part-time or full-time business.
Anything to sell...
For everything else there are the auction sites like ebay. I know someone who makes a full time living from ebay by simply buying and selling the same items. For example, he looks around ebay for misspelt listings, which inevitably have little or no bids. He'll then bid and buy these items, and relist them right away for a quick profit. The trick here is to make sure there is a hungry market, and the best way to find out is to find listings with lots of bids. If there's only one item and 7 bidders only one can win, leaving 6 people very disappointed. There's your market.
There are many opportunities to make money online and these are just a few. In my next post I'll be looking at ways to market your products and services all over the Internet.
Don't miss it.
All for now,