Want An Online Money Maker? – Pros & Cons Of The 4 Fundamental Strategies

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I came onto the web in 2003, and have come across many of the “moneymaker” ideas online.

In fact the biggest problem for most people when they are starting out is that there are literally hundreds or even thousands of different options, and it can be hard to know where to begin.

Often people start out online by doing paid surveys, freebie programs, or other task-type work. Not all of them are scams, but even when you find a moneymaker that does pay up, the money is so much less than you can earn with other strategies I recommend.

So in this article I’m going to go through the 4 most popular and most effective strategies for making money online that will give you the best chance of success.

Online MoneyMaker #1. Sell Your own products or services.

There are entire training programs around this one strategy. It is huge.

This strategy has a lot of upside potential. When you have your own product or service you retain all of the control and all of the profits.

However this strategy is hands down the most difficult, especially for a new internet marketer.

There are so many elements that have to be successfully implemented to create a successful product or service, that inexperienced entrepreneurs would most certainly fall into the 80% of businesses that fail in their first five years.

Creating an online business based around your own product or service should only be attempted after you understand and have mastered to some degree some of the basic elements to successful internet marketing; website creation, branding, market research, sales copy, conversions, follow-up strategies and of course traffic generation. Do you already have proven skills in all these – or the ability and cash to hire someone who does? Most people don’t.

Ultimately you will want to create your own products or services to sell on the internet, however, I strongly recommend that you begin your online journey with one of the easier strategies that you will learn below.  Start smaller, invest less, minimize your risk, learn and develop your skills and generate capital to expand your business.

Alright so let’s talk about…

Online MoneyMaker #2.  eBay, Online Auction Sites & Drop Shipping.

Although it could be combined into the other strategies, it is popular enough that it deserves a category all on its own.

Most people are familiar with with eBay and similar sites. You have probably bought or sold on one of these sites yourself. I certainly have.

Auction sites like eBay are easy ways for the average person to set up shop online without knowing anything about website design, search engine optimization and generating traffic.

You create your account on eBay or other auction sites, and then you source some popular products, often through a drop shipping company, and you list them the auction sites.

Sounds pretty easy doesn’t it.

Well, not quite.

For starters, your competition is right there next to you. Your customers can buy elsewhere on the same site at the click of a mouse, and your competitors can spy on your every sale.

There are several good courses on this strategy (eg SkyHighAuctions, eBay Fortune, BiddingBuzz) if you really want to learn it but I don’t really recommend it. Yes there really are some people making a living at this but there are many challenges and limitations that do not make this an ideal internet business.

There are easier ways to make money online and strategies with much more leverage that can greatly maximize your potential return for your time and money invested.

So with that let’s move onto…

Online MoneyMaker #3. Affiliate Marketing.

Affiliate Marketing refers to the process of marketing other people’s products and services.

Now again there are entire courses on just affiliate marketing alone, but again the purpose of this article is to simplify the internet for you so you have the important fundamentals, the basic concepts and a simple game plan so you can get out there and get going, start making some money right away as you learn and develop your skills.

Now the benefits of affiliate marketing are many.

  • You don’t have to come up with a great idea.
  • You don’t have to create a product.
  • You don’t even need a website of your own, and
  • You can even do it with zero investment.

It costs nothing to become an affiliate and there are thousands of companies that offer affiliate programs.  Big names like Amazon, Best Buy, Travelocity, Dell, Home Depot, HP and the list goes on and on.

How Affiliate Marketing Works

You sign up as an affiliate for free and you get a unique URL link to promote. This link directs people to a replicated company website that is linked to your account. Your job is now to promote that link and get visitors to click on it. If they purchase the product from that website you get paid a commission.

The best affiliate products have multiple products at different price points.  They may also have it so that if a customer purchases any of their products at any time in the future you get a commission.  Now that’s leverage.

All you did was get that visitor to go to the website the company gave you.  Doesn’t get any easier than that.

Again it sounds easy, but the truth is that just signing up for a free affiliate account even with the most popular affiliate programs will not make you money.

A simple affiliate link is fine and maybe you’ll be able to make a few dollars here or there but to really be successful with affiliate marketing you will need to have your very own unique websites and you will need to understand the concept of list building.

Don’t worry I’ve got you covered. Down below I actually show you how to get your very own unique websites and how to become skilled at list building as well.

However if you are just getting started, Affiliate Marketing is THE best strategy to pursue.

You can make some extra money relatively quickly if you learn effective traffic generation.  The potential is actually unlimited.

Now there are affiliate products with very small commissions, five to ten percent of the purchase price and there are those with higher commissions any where from 30 to 60 percent commissions.

Of course it only makes sense to promote those products with much higher commissions and I will show you how to find these higher paid products and exactly which one I offer in my promotions.

Your biggest challenge to success with Affiliate Marketing will be traffic. Generating visitors to your website is the single most important skill that you will need to master.

Fortunately I will outline for you the most effective marketing strategies for generating traffic to any website.  Plus give you access to proven virtual training videos which will teach you everything you need to know about online business and traffic generation.

Alright. Let’s now finish up with the one I believe can provide you with the greatest leverage in your web business.

Online MoneyMaker #4. Network Marketing / Multi-level Marketing (MLM)

Now a quick disclaimer for those of you reading who might automatically think of Amway and hotel meetings and chasing after your friends and family trying to sell them soap and Tupperware.

Remember this is about the internet, so if you have any old misconceptions about networking marketing we ask you kindly set those aside and learn about the new internet style of network marketing.

For those of who think pyramid scheme or scam let me give you four names:

  • Warren Buffet
  • Robert Kiyosaki
  • Donald Trump
  • Richard Branson.

Each of these multi-millionaires/billionaires is involved in one way or another in the network marketing industry, so unless you know something that they and their teams of lawyers don’t, we suggest you question your assumptions.

With that out of the way let’s talk about making money, a lot of money.

Why Network Marketing?

Its simple – leverage.

In order to create true wealth, time freedom and a business that is not dependent on your personal worth you must have leverage.  In your business you must always be asking yourself the question, how can I get someone else to do this for me and how can I scale this so I can do more business with less work.

You see as employees our income is tied directly to time and to our personal effort.  Even in most small businesses the same is true – if you stop working your income stops also.

True wealth and freedom is created by separating your income from your work.  This is a paradigm shift that once you fully comprehend it, it will completely revolutionize your life and the way you approach everything you do.

MLM provides you with the potential to leverage the efforts of literally thousands of people for very little investment and very little effort once you understand how to build a network marketing business using the internet.

As you progress in your training you will find out exactly how network marketing fits into a complete business model.  The focus is always to maximize our return on investment of both time and money.  Whereas Affiliate Marketing is the best way to start, Network marketing is the best long term strategy that helps us maximize our efforts.

Here’s the best way you can discover how to take advantage of them, even if you are not in a network marketing company currently, or have little or no online marketing experience up to this point. I’m going to send you 27 email lessons on these strategies from above AND introduce you to the method I use for combining them all into one incredible moneymaker. Simply enter your details to get access…

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