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Making additional money

Fri, 05 Sep 2014 10:43:24 +0000

The right idea for making additional money

You overcame debt or are able to deal with it. Now you face the need to make some real money. Hard work seems to be necessary, but we want to do it efficiently. We need some good ideas, or at least one. An idea for making money intelligently. This money idea should lead to a side business or a full-time small business for you. We are looking for a business idea.

A side business for someone with no financial resources and possibly no special skills needs one thing more than any other:

Low barriers of entry

No other infrastructure offers better chances for a self-made “work at home job” than the Internet. As soon as you have a computer and an Internet connection, you are on the launchpad with your small business idea. That’s why we will try to dig up online money ideas for our first step.

The most direct way to make money is to have something to sell and then do some marketing for it. That’s not different in the online world. There you need some sort of product, presumably on a website, and then you have to direct visitors to this site.

The secret sauce

Here is a list what to sell or what type of product your website could offer and the secret comes right after it:

  • The easy route is an affiliate offer. Someone else has a product and you can sell it for them by getting a commission. You even don’t need a website for doing this business.

  • You have content, interesting articles written by yourself or by an external writer, perhaps compiled into a blog. Mix in some ads like Google Adsense and you have your pseudo-product.

  • Physical goods. Either buy them and store them, drop-ship them, or clean your cellar and sell some junk. Alternatively you could also go to the flea market or become an importer for buying what you later want to sell online.

  • Buy nothing but instead develop or buy a social website. People like to connect to each other via a simple forum or a complex Facebook. Accompanying ads act as your product.

  • Offer your advice. You are knowledgeable at something and like giving advice. This could also be done with a forum website or even a blog with an extensive commenting section.

  • Turn it to the next level and offer a real service. Sell your ability to write articles, code programs, design graphics, make complete websites, or host them and administer servers. Perhaps you have an offline profession that could be taken online, at least partly.

  • Often a simple hobby can be enriched by online elements, or vice versa, it can be used as the base for your new online venture.

Some of these products are easy to offer, others are outright difficult, and some may even look silly. Just look at them for now as a large universe of opportunities.

Important is something else:

The product in the online world is virtual. The potential customer can’t investigate it. Instead they have to believe what your website says about your product. In many cases you will have to sell something by its packaging, the so called sales letter.

Right, your product is actually the design of your website and its text that at first has to interest people and then convince them to buy it. It is not the product itself.

The other ingredient for success is the number of people who see your website and possibly get enticed by its words or look.

A business has two factors of success:

(Good Marketing) X (Good Product)

In the online money making game the magic formula becomes:

(Number of People) X (Enticement Power)

Or in the terms an Internet marketer would use:

(Targeted Traffic) X (Conversion Rate)

The latter means simply this:

  1. Direct as many people as possible to your website who are interested in your site and its product while minimizing the cost for doing this.

    Here is our traffic secret: Affordable Targeted Traffic

  2. Make a website and write a sales letter that uses psychological methods to make them buy your product, sign up to your newsletter, or otherwise show interest in your site. We have a free ebook on this topic.

    Just download it: Selling Secrets

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