The Biggest Secret To Making Money Online
This one is so obvious yet most beginners don’t seem to get it. Here’s the secret… You only make money when you sell. That’s it. No matter what type of marketing you’re doing, you ONLY make money when you sell something. You could be doing affiliate marketing or e-commerce or product creation… Whatever it may be, you still only make money when you sell.
Even for those providing services such as graphic design, content creation, etc. You make money by selling your services. You must focus on selling! Like they say, “Always be selling.” There’s just no getting away from this fact. No amount of learning or buying products and software will ever make you money online if you do not sell. Read that again.
It is so important. You must avoid getting infected with shiny object syndrome. What’s shiny object syndrome?
‘Shiny object syndrome is a term commonly used in the internet marketing scene to refer to marketers who keep buying new products that hit the market but never take any action on the info that they buy.
All they seem to do is buy and buy and buy, but they never apply what they learn. They may give some of the methods a try but before anything can gain traction, they quit and start something new. In the make money online space, thousands of products keep coming out. They have flashy sales pages, sales copy that’s hyped up, and promises easy profits that will give you the lifestyle of a celebrity rapper.
In reality, most of the products are rehashed and untested theories that just don’t work. However, thousands of beginners have to spend a ton of their money on these products and never make a cent in return. Shiny object syndrome is one of the biggest reasons why most people online fail to make money online. They are so busy buying that they never do any selling.
The 5 tips below will help you to vaccinate yourself against this ‘syndrome’ that kills your chances at online success.
Most of it is noise
That’s right. Most of the products are released by serial product creators who do not practice what they preach. You need to watch what these marketers are doing instead of what they’re saying. The money is in product creation and selling these products. Forget about the hype and loopholes that their systems promise. If their methods were so good, they’d be doing it themselves but most of them never practice what they preach.
Focus on just one method
Pick a method that is sustainable in the long run. For example, affiliate marketing, e-commerce, etc. Pick just one method and stick to it till you make it work. Only get products related to what you’re doing and nothing more.
The method you choose must be a proven business model and not some sneaky loophole that may never work.
Stick to proven products and reputable sellers
Do your research and only buy info-products or software that has been proven to work or are created by credible sellers. Ask around for reviews and see if anyone has actually benefitted from using these products. The hard truth is that the majority of products have a very short shelf life because they’re neither useful nor effective.
Get the right tools only
It’s inevitable to reach a point where you need tools to run your online business. You may need membership software, autoresponders, ecover creators, etc. Always choose one that is good.
Even if the good ones are a little pricey, you should invest in them. Cheaper alternatives may be unreliable and break down. In some cases, the products may not even deliver what they promise. So exercise due diligence and stick to proven products that have stood the test of time.
Segment your emails
As a marketer, you’ll be inundated with emails from other marketers. All these emails will usually be for offers screaming for your attention. Unsubscribe from lists that offer no value… and for those lists that you are on, do segment the emails to go into separate folders. You can check them once in a while when you’re free. You’ll be less tempted to splurge on new products that you don’t need.
Other than these 5 tips, do your best not to buy products that you won’t use immediately or within a short while. Do not buy products that you might use ‘one day in the future. In most cases, that one day won’t come.
Top Passive Income Business Models
Making money while you sleep or travel the world might sound like a dream to a lot of people but this is one of those dreams that can become a reality thanks to the transformative power of the web.
To earn a passive income, all you need to do is set up a system that allows you to sell products without having to put in any work to create and deliver said products. That could mean that you’re selling a digital product such as an ebook for example, or it might mean that you’re selling a product on behalf of another company – acting as an affiliate.
It could even mean making money from advertising. And there are a surprisingly large number of ways you can do this.
Read on to discover some of the best methods you can use to make passive income and how they each work…
Sell an Ebook From a Sales Page
Creating an ebook is a simple matter of choosing a subject and then writing about it in a Word document. You can then save that document as a PDF file and start selling it from your website. If you don’t have the necessary writing ability, knowledge, or patience to write an ebook though, then you can simply outsource this process by hiring a writer from a site like UpWork or Elance.
Add an automated sales and delivery system, creating an advertising campaign or evergreen website and you’re good to go!
Sell a Kindle Ebook
You can simplify the process of selling ebooks too by selling through Kindle. Kindle is of course the name of Amazon’s e-reader device and this also comes with its own store where users can find and download books. This makes it a highly effective ‘distribution platform’, meaning that it’s a very easy way for you to find customers, sell to them and deliver your product. You don’t need to worry at all about marketing, about handling payment or about delivering the product – Amazon does all that for you!
Best of all, it’s free to sign up!
Sell an App
Or why not make money from an app? This works just the same as selling a Kindle book, in that you have access to a ready-made distribution platform with a large, captive audience. And if you sell your app on Android, then you’ll only need to pay $30 to sign up and your app will be automatically approved in a matter of hours.
Don’t know how to make an app? Then just use an app builder tool or outsource the process!
Run a Website
If you can get enough visitors to a website, then you can use this as a means to turn a profit from advertising. Use AdSense and each time a visitor clicks an ad, you’ll get a tiny payment (usually of a few cents to a dollar). The hard part is getting enough visitors to your site without spending every waking moment running it – but if you hire writers, or if you create an ‘evergreen’ resource, then this can work well.
The Information Product Business
A digital product is essentially any product that you don’t hold in your hands and that can be saved on a computer, smartphone, or tablet. An information product meanwhile is a product that revolves around providing information. That means something like a book, a podcast, or a course. So a digital informational product is something that ticks both these boxes much like this very eBook!
This eBook is informational because you’re learning from it and it’s digital because it only exists on a file on your
hard drive. Creating and selling a digital product just so happens to be one of the most popular and most effective business models that there is. The reason for this is that it offers incredible ROI and is highly versatile.
When you create and sell a digital product, you are providing value in the form of the information contained therein. This is what allows you to charge money for your product and it’s what makes it desirable for your audience. At the same time though, a digital product has very little overhead.
There may be some initial investment involved in the creation of your product as you’ll need to outsource the process or pay someone to create it for you but after that, you’ll then be able to sell as many copies as you like without it costing you a single thing. There’s no cost associated with storage, there’s no delivery and there are no materials.
In business, this is known as ‘COGS’ or ‘Cost Of Goods Sold’.
With a high value and no overheads then, a digital product can provide almost 100% profit on each sale. What’s more, is that it’s incredibly versatile and simple to create and sell. You don’t need to get in touch with a manufacturing contractor, or find seed money, or learn to code. As long as you understand how to write into a Word processor, this option is available for everyone.
How People Are Making Money From Information
So how do you turn this into a money-making business model? One good example we can turn to is ‘Double Your Dating’ (www.doubleyourdating.com).
This is a website that sells a wide variety of different informational products, all relating to how to attract and meet women. The owners of this business, therefore, invest a little time and money into running the site and promoting it and then generate income from people who decide they would like more information and thus buy the books. This
works because the products being sold have a very strong ‘value proposition’ which is to say that they solve a clear and simple problem and promise to make the buyers’ lives better in a measurable way.
This makes promotion much easier. In this case, ‘dating’ is the niche (meaning the subject) and this is one of
the most popular niches out there. Other popular choices include ‘making money online, ‘style’, ‘weight loss, ‘muscle building’. Remember though, eBooks are just one option. You can also sell a video series, an online course, a shorter ‘report’, or a range of other information products.
In terms of how the business model works, it will largely be posting to a blog that will help you to bring more traffic to your website. The more you add content to your website in the form of a blog, the more people will be able to find your website via Google and the more people are likely to share your content on social media as well. Adding content to a blog also allows you to build trust with your audience. The people who enjoy your content on the website will find themselves wanting more and trusting what you have to say.
This then means they’ll be far more likely to want to buy your products when they see that you provide even more information behind a small paywall. That right there is the basis for ‘content marketing’ which we’ll look at more
when we come onto this article on blogging. Actually, though, there are also other methods you can use to sell a digital product.
For instance, you can sell a digital product via social media, on forums, or even through Amazon (for Kindle). Another option is to let other people promote your product for you and to simply take a cut of the profits.