Making money online can get really confusing and overwhelming when you don’t know what you’re doing. I’ve been making money online since 1998, so I have a lot of experience. I’m going to break it down for you in 4 easy to understand steps.
Step 1: You have to have something for sale.
The great thing about making money online is that you don’t even need to actually have a product for sale, but somewhere down the line, someone does. You can promote other people’s products or services for a commission. Back in the good old days there was this method called “Google Cash” where you promoted a product using an affiliate link in Adwords and got paid a commission for selling someone else’s product. No website, no sales, no support, just ads to the affiliate sales page and commissions. Some places even paid within a day. You can actually do the same thing today in the Facebook newsfeed and with PayPal you can get paid immediately for example for products from sites like JVZoo.com
I find it a lot easier to sell my own products and services. I’m in full control. I once promoted JDate using Commission Junction. I had $12,000 in commissions from one month. I spent $7000 in Google Adwords to make the $12,000 (so I got to keep $5000 for doing nothing but promote someone else’s product). However, JDate refused to pay me. I hired a lawyer. They never paid and miraculously Google actually refunded me the $7000. Don’t ask me how that happened. I argued and argued until I convinced someone to give me back the money. They told me at Google that this never happens and it’s my lucky day. I guess that’s just one of the reasons I prefer to sell my own products.
Whatever it is you’re selling there are going to be advantages and disadvantages. It’s like the blanket that’s too short. Pull it over your chest, your feet are cold. Pull it over your feet, your chest is cold. You can’t have it all. There will always be problems, like in every business. There’s always some level of risk and there’s always competition. If there isn’t now, there will be soon.
Step 2: Promote the $#!^ out of it.
Once you have a product or service that people are willing to pay for, the real work is promoting it. I always tell people I don’t sell anything, I market products. People always ask “what’s the difference?” Selling is convincing someone to buy. Marketing is finding the people who want to buy the product and just putting it in front of them in an enticing way. For example, if someone is craving chocolate. Imagine they write on Facebook, “Thinking about chocolate…yummmm!” and I put a chocolate bar in front of their face and say, “Just what you were thinking of and just $0.99!” Then I show it to 10,000 people who are thinking of chocolate right then. I’d make a lot of money, right? I didn’t convince anyone to buy something. I just put it in front of their faces and said, “What do you think about this?” but I do it through Facebook targeting or Adwords or some other means of marketing to my customers. I always say that my challenge is not finding what to sell, but figuring out how to promote it cheaply. That’s the real key to success in this business: cheap, targeted traffic to a specific niche product. Right now Facebook is the best place for me to sell my t-shirts and other products (sourced from China, via Shopify, for example). But a few years ago Facebook sucked. SEO was king. I was great at SEO until Google decided to make it so difficult for us marketers. You have to go with the flow, following the trends.
3. Get better at promoting.
If finding products is easy, but promoting them is the real challenge the key to making more money online is getting better at promoting. You have to buy courses and software to keep learning in order to stay ahead of the competition. I buy courses and software almost every single week. Then I have to allot the time to sit and learn the material. I have a little trick. I put the videos on 1.5 x speed or if I can, 2 x speed. I use this extension for Chrome. You can also use the speed control on YouTube if it’s a YouTube video. The faster I can absorb the material, the better. You have to try everything. I like to stay focused on a certain area of marketing, for example, Facebook advertising and get as good as I can at that. Personally, if I’m spread too thin, doing too many things, I don’t get anything done. Focus is important. What I do is try to build a system so that I can outsource it to a team and then move on to the next project. However, I have to always keep learning. If I stop, what worked 6 months ago won’t anymore. It sucks. I know. But that’s how this business works.
4. Outsource so you can expand.
Once you’ve figured out a product that sells, a way to promote it, set up a system and outsource it. When I outsource I like to keep every part of the project compartmentalized. That means that one person is the graphic designer, the other is the virtual assistant that puts up the shirts and creates the ads. Everyone has their job. It’s my job to check the results, adjust the ad budgets, create new ads, but I’m the head of the octopus, the freelancers are the tentacles. Once you have this down, you can keep scaling your current business and/or move on to the next one.
That’s making money online in a nutshell. Keep this in mind and you’ll be in good shape. Remember there are new ways to make money online all the time. Look at the services you’re purchasing to get ahead and think of what you can create. Write me with all of your questions. I’m here to help.