The 3 Fastest Ways to Make Money Online

It takes time and planning to build and grow your own money-making
business on the Internet. But if you want to make money online in a
hurry, there are ways you can start padding your wallet quickly — and
you don’t even need a product of your own to sell.

You can make money online by…

1. Selling and shipping products while someone else does all the work.
   In the Internet world, this is known as drop shipping. And it’s a great
   way to sell physical products without having to stock, ship, or fulfill
   orders. Instead, you hire a drop-shipping company to do that for you,
   so you can concentrate on marketing your website.

   The
   downside is that you have to pay a percentage of your profits to the
   drop-shipping company. But if you have your heart set on selling a
   physical product, or don’t have the time or money to develop your own,
   this is a good option.

2. Recommending products.
   When you become an affiliate for someone else’s company, you can start
   earning commissions very quickly just for referring visitors to their
   website. Again, there’s no need to stock products or fulfill orders.

   You will have to be prepared to do some pretty hefty promoting if you
   want to create a money-making business primarily as an affiliate. But
   it’s definitely the fastest way to start earning an Internet income.

3. Getting the right to sell other people’s products. A third way to make money online in record time without developing your
   own product is to buy the reprint or resell rights to someone else’s product.
   When you purchase the rights to an established product, you get (depending on
   the kind of rights you purchase) permission to sell someone else’s product for
   them and keep a percentage of the sale. Or the right to buy someone’s product
   outright and resell it, keeping the entire proceeds of the sale. And in the best-case
   scenario, you can even purchase the right to sell the purchasing rights to other
   people!

   You can find out how to get the rights for products like eBooks by
   approaching authors directly, or using a search engine to find out
   which rights would be best for you. This can be a very profitable way
   to make money online, but it does require an up-front investment.

These are all great ways to start your own money-making business
on the Net… and you can even mix and match them to create an even
bigger Internet income. Just keep in mind there are other Internet
profit models that will allow you to keep even more of your profits if
you’re willing to put in the time and effort.

Try out BeBiz - our easy website builder that guides you through each step of building a profitable website.

When failure is not an option

The #1 reason people fail is they have no clear direction. They chase one idea after another, and they never see anything through to completion.

You’ll NEVER achieve success if you spend your time going off in all directions, chasing every single opportunity that comes your way.

On the other hand… if you set measurable goals with specific timelines for yourself –  you’ll achieve success faster than you would have thought possible.

Here is my recipe for success, distilled into six simple steps. It’s the exact same goal-setting system I’ve used to get where I am today. (And guess what: I went from a debt-ridden college grad with a computer programming certificate to CEO of a 100 person company in just 7 years. So this plan certainly worked for me!)

 

Step #1: Set your "Ultimate 3-5 Year Goals"

Ask yourself this: In 3-5 years, what do you want your life to look like? What do you want your finances to look like? What do you want your business to look like?

Think big — but stay within reason! Rome wasn’t built in a day… or in five years, for that matter.

Your goals need to be measurable. Rather than setting a goal like, "I want to be rich!" — come up with an actual dollar value. How much money do you want your business to be making in 3-5 years’ time? THAT’S the goal you should be aiming for.

 

Step #2: Set "Annual Goals"

Ask yourself: "What do I need to accomplish in the next 365 days in order to achieve my ultimate 3-5 year goals?"

Write down as many goals as possible. Chances are, you’ll come up with a big list! But when you’re done, you need to pare it that list down to the top 5 "must-do" items.

What are the top 5 things you absolutely MUST do in order to achieve your ultimate goals? Once you’ve answered this question, you’ll have your top five goals for the year.

 

Step #3: Set your "Quarterly Goals"

Those yearly goals seem pretty big, don’t they? In order to achieve them, you’ve got to break them down into more realistic milestones: your quarterly goals.

This is something you should do every three months — so if you’re working on a regular calendar year, you should be setting new quarterly goals for yourself every January, April, July, and October.

At the beginning of each quarter, take a step back and look at how well you managed to reach your last quarterly goals. Based on that, decide what you need to do during the next three months to keep moving toward those annual goals.

Remember: Keep your goals specific and measurable!

 

Step #4 - Set your "Monthly Goals"

Are you starting to see a pattern yet?

Now you need to determine the top 5 goals you have to achieve every month in order to hit your quarterly goals.

But do you stop here? Nope!

 

Step #5 - Set your "Weekly Goals"

Ask yourself: What are the top things that have to happen this week in order for you to hit those monthly goals?

Don’t limit yourself to five weekly goals. Sometimes you’ll have fewer than five — sometimes you’ll have more. When I set my own weekly goals, I find there are numerous small tasks that need to be accomplished — or just a couple of big ones. But at the start of each week, I always make sure I know what tasks are most important.

Wait — you’re still not done!

 

Step #6 - Set your "Daily Goals"

Each morning — before you even check your email — you need to create a list of things that have to happen before you go to sleep that night.

Once again, these tasks should be driving you toward your weekly goals.

It doesn’t matter if you have only an hour a day to spend on your business. By setting goals and focusing on the really important things you need to achieve, you’ll be shocked at how much you can get accomplished in a really short period of time.

But the fact remains: you still need to MAKE THE TIME. Even if you’re able to spend only two hours a week on building or growing your business, it ill make a huge difference!

 

Once you have all your goals down on paper, don’t file them away in your desk somewhere! Make sure you can see them in a number of different places.

Tack them to the wall of your office. Put them on your fridge… beside your TV… even beside your toilet!

You need that constant reminder.

 

Remember: the only person holding you accountable for hitting those goals is YOU.

 

So turn off your email, shut out all distraction, throw procrastination out the window, and start setting those goals NOW. If you follow this system, I guarantee that 30 days from now you’ll surprise yourself at how much progress you’ve made!

The Elephant in the Room

Marketing Around "The Elephant in the Room"

"Recession"

It’s the elephant in the room — the thing no one wants to really talk about, for fear of being forced to admit it’s real.

… But the fact is, the U.S. economy (and by extension, the global economy) is experiencing a downward spiral right now, and the ripple effects are being felt by everyone from Bill Gates to the smallest home business owner.

However, hiding your head in the sand isn’t going to change things!

You can’t just act like everything is "business as usual" and pretend it isn’t happening.

Many of your customers are going to be forced to tighten their belts. You may find that people are going to be less likely to make a purchase online than they have been in the past. But that doesn’t mean you should close up shop!

The best way to deal with an economic crisis is to FACE IT HEAD ON and look for ways to make it work FOR your online business — instead of against it. By tweaking your sales message to speak to the financial challenges your customers might be facing, you will get a better response out of them.

Here are a few ways you can do this:

1. Emphasize the VALUE of your product — and the amount of money people will save in the long run by buying it. (For example, if you sell dishwashers that are energy efficient, explain how your product will cut down on electricity costs!) Emphasize value on your website… in your newsletter… in your pay-per-click ads — everywhere you reach potential customers. By showing them how your product will help their bank balance rather than harm it, they’ll be far more likely to make a purchase!

2. Offer special discounts and free trials — The best way to appeal to people on a tight budget is to offer them a great deal. And there’s no better deal than free! A great way to convince people of the value of your product is to let them try it out for free for a limited period of time. It’s far more difficult to say "no" to a great product once it’s already in your hands! Also consider offering other perks, such as free shipping or free gift wrap. You could also include more free bonuses with your main product. By offering "added value" items like these, you’ll set yourself apart from your competitors and encourage more people to buy from you.

3. Focus on your existing customer base — The greatest asset of any business is its customers. These are people who have already shown they trust you by buying from you once — which means they’re far more likely to buy from you again. … And THAT means it will cost you less money to convince THEM to buy, compared to someone who’s never even heard of you. Work hard to build a strong relationship with your existing customers. Offer them lots of free valuable information, combined with special "customers only" discounts to encourage them to buy.

Above all, make sure they haven’t forgotten you — and that they always think of you as the person who "sends them all that interesting and useful stuff!"

By staying on their radar, you will guarantee that when they do decide to open their wallets, your site will be the first place they go.

 

If you’re already feeling the effects of the current economic crunch — or have discovered some successful ways to shield yourself from it — please tell us your story.

We are always looking for ways to help serve you better and your input helps us do this!

Lose the fear factor

When you start an Internet business for the first time the fear of failure can hold you back.

I’ve talked to a lot of people who have found a promising niche market with a problem that needs solving. They’ve come up with a product or service that would solve that problem…

… But they’re paralyzed about taking the next step. It LOOKS like it’s got moneymaking potential, but what if they put in the time and effort — and possibly money — and it flops?

The fear factor can stand between a good idea and a real, profitable business.

That’s why validating your market after you’ve found a niche is a crucial step you cannot afford to skip.

Of course, there’s no way to completely guarantee success… but ask yourself the four questions below. If you can check every box, you’ll know — as far as possible — that you’re onto a winner.

Once you’ve found a potential niche product or service, ask:

1. Is there a demand for your product or service?
   
   You need to make sure there are enough potential customers out there to keep you in business.

   Are people actually trying to solve this problem on the Internet and NOT finding a suitable solution? If you’ve done keyword research to find a niche market, you should have a good idea of this already.

   Don’t overestimate the numbers. Just because you think that every cat owner in America needs to buy your revolutionary cat bed doesn’t mean they will. A good number to use is 2%: if 2% of the visitors to your website become customers, you’ll be doing well.

2. Is there any competition already supplying the market?

   Search for your top keywords and look at the rival sites that come up. What do they sell and how do they make money?

   Most sites you find won’t be actual competition — they may just have some related content, or be luring traffic for the sake of advertising revenue.

   When you find real competitors offering something similar to what you want to sell, dig deeper into their businesses.

   What can you do better than they do? Build a more professional, easier-to-use website? Write better pay-per-click ads for the same keywords? Put more keywords in your copy and code to attract the search engines?

   These answers will put you ahead of the game and give your potential customers a unique reason to choose YOU over your rivals.

3. Will you get high-quality traffic?

   Are people looking for something free or will they actually buy from you?

   Search for the terms (free) + (your keyword). Is there something competing with your product for free? If so, people won’t pay for your version.

   It’s also a good idea to search Amazon and eBay for previously sold items to see whether people are willing to buy products similar to yours.

4. Does your Internet business have a high lifetime value?

   Lifetime value means the total value of each customer to your business as they buy from you again and again.

   Can you turn one-time buyers into repeat customers? Are there "add on" products or services you could offer to develop lasting, valuable relationships with them?

   If you have a single product or service, try to come up with more things your niche market would buy — because it’s way easier to sell to customers again than to develop new customers.

Once you’ve thoroughly — and honestly — assessed your Internet business idea by answering these four questions, you should feel much more confident about making it a reality.

So do your research and defeat the fear factor.

Photo by Sam UL on Flickr. Some rights reserved.

Riding madly off in all directions

"Lord Ronald … flung himself upon his horse and rode madly off in all directions." — Stephen Leacock

As an entrepreneur you want to make money as quickly as you can… sometimes this translates into chasing after EVERY opportunity that comes your way — and never following through to completion.

Sound familiar?

How many ‘projects’ have you left partly completed before moving on to the next potential opportunity? How many business opportunities have you bought into but never seen through to completion? It’s a curse that plagues many of us… but it’s easily solved, as long as you’re conscious of it.

To help you get profitable, here are 3 very simple things you can do to cut down on the distractions — so you can focus on ONE solid opportunity at a time and see it through to completion before moving on to the next:

#1. Hit that "unsubscribe" button.

Get out of the "so many opportunities, so little time" syndrome. Choose your top 2-3 sources — where you actually get advice and emails you actually READ. Then unsubscribe from everything else. For the most part, all you’ll be missing out on is a bunch of emails trying to persuade you to buy something that you don’t really need. Once you’ve silenced all those unnecessary voices that entice you in a million different directions, you’ll find focusing much easier.

2. Choose ONE strategy at a time — in a logical order!

Once you’ve freed your inbox from a whole lot of distracting emails, make sure you focus on one, and ONLY one, strategy at a time — then follow each strategy through to completion before moving on to the next.

And make sure each strategy follows logically upon the next!

For example, it doesn’t make sense to focus on SEO or traffic generation strategies before your site is fully set up. Being listed on 1,000s of sites isn’t going to get you anywhere if your site can’t take online orders.

You want to stay on target and make sure you don’t get out of sequence.

Finally, don’t just "cherry-pick" the strategies you like and assume you’re going to succeed. Instead, you need to address each of the 4 steps to building a successful website - market research, product/service selection, sales process and traffic. 

3. Once you’ve decided to start… finish it!

The secret is to get a site launched - no matter what it is - and you’re on your way.

It doesn’t really matter what the site is… as long as it’s in a niche where there are people looking for answers or products.

Do your research, the take the idea and RUN with it!

Put it up, see what’s working, and what’s not. Traffic, opt-ins, sales… that’s all that matters. When you have these elements working — build another site again in another market or niche. (There are quite a few people that have "abandoned" sites that generate considerable sales.)

Every site you build will be better than the last. If you do get rich off your very first site, you’ve won the equivalent of a lottery. Everyone I know who’s making serious money on the Internet is doing so after their second or third site. Their knowledge they’ve gained from creating their first site made all the difference.

You learn from making mistakes. So quit chasing opportunities. Focus on your goal of starting an Internet business.

This might seem obvious, but it’s amazing how many people waste so much time trying to find the perfect solution.

 

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