The Golden Key of Success
The real opportunities to make money using the internet are endless unfortunately, so are the scams. In fact it doesn’t take very long before most people become overwhelmed with all that’s being offered out there, and they either give up or they begin hopping from one scheme to another without ever building anything profitable.
One of the primary goals of this eBook is to come to the rescue of the dazed and confused.
We’re going to take a look at some of the most significant ways you can earn money online. In fact most other ideas are just variations on these central themes. Any one of them can be very lucrative if implemented properly.
Now it’s very important for you to understand that you have to learn to walk before you can run. Start out by mastering the basics, and learn what is proven to work before you try and get too clever on your own. You can waste a lot of time trying things that really have no hope of being very successful. You’ll also waste a lot of time and energy “reinventing wheels”.
Later on your MOST profitable ventures might well be brand new ideas that you came up with all by yourself. But first learn the basic principles and skills – and learn them well.
Let me encourage you, there is PLENTY of money to be made even in these first steps, if you learn to do them right. Copy what successful people of integrity are doing.
All of this leads me to say something very important. We’ve all seen the ads claiming that you can retire next Thursday as a millionaire having done next to nothing at all.
Let’s be very clear right now: anyone who promises you instant wealth and for little or no effort is LYING! Every time. Period. The sooner you stop falling for that nonsense, and resolve that you’re prepared to invest some hard work and steadily build your income streams, the sooner you’ll start to realize the returns (and the accompanying lifestyle) that you’ve dreamed about.
I’m going to share with you a lot of great information. I suggest you sit down with a cup of coffee to read through it carefully. Be ready to make notes as you go.
I’m going to make another suggestion. Read the whole book BEFORE you start any new projects or ideas. The reason will become clear when we get to chapters 5 and 6. I’m going to teach you to zero in on just ONE thing at a time. It’s important for you to understand the ideas in this post and THEN choose your focus. In fact, by the time you’ve read to the very end, I predict that you very well might be choosing to DROP some of the present activities you’ve previously started. But first we have to lay the foundations of understanding. We need to look at the “Pillar” Income Streams you can choose from to start building your business online.
A special word to those that are already very familiar with ways of making money online: The material we are going to cover in Section II is the “meat” that, if you take action and put it into practice, could literally change everything for you in your business. So I would understand if you skimmed over the first section because you already know much of these foundational lessons. But honestly, I recommend that you do NOT skip over these first chapters lightly! Even if you have been exposed to these opportunities for a while, and are tempted to think you have nothing to learn, it can’t hurt to come back and think afresh about what each of these methods have to offer you.
OK, got that cup of coffee? Let’s get to it!
The name that most naturally comes to mind when we talk about Auction Sites is the giant eBay. Everything I’m about to say might just as easily be applied to other auction sites, but from here on we’re simply going to refer to eBay, and use it as our model, because eBay is just about as big as all the others put together in terms of auction business. It’s the granddaddy of them all, and quite honestly the tools and resources they provide give you the very best chance of success in building a profitable business.
Above all, what makes eBay the obvious choice for anyone wanting to sell online is their unmatched volume of traffic. Millions of people search eBay every single day of the year.
This matter of traffic is one of the most basic issues you’ll be confronted with in any online business – no matter what kind of opportunity you pursue. Just think about this. If you have your own website offering items for sale, you can spend a truckload of money trying to drive traffic to it – because unless you do, you have no chance of making sales. eBay eliminates the need for all that. eBay brings the traffic right to you.
There are very few people left now who still have the image of eBay as a big yard sale, with everyone’s junk out on tables. If that’s what you do think, you need to go on over and take a good look around the site. You can find anything and everything for sale, including a great deal of brand new product being professionally marketed by both small and large companies who have established their presence on the site as a major part of their business strategy.
The key is, if you want eBay to be a significant income stream, you must think of it and treat it as a business.
Literally hundreds of thousands of people are making good (even fulltime) incomes on eBay. If you choose to do so, you can too!
• It’s one of the fastest ways to get earning on the internet. If you have something to sell, it’s a fairly safe bet that you can be banking your first profits within a week or two of startup.
• Most of the hard work is done for you. Very little technical knowledge is required; if you can surf the net and get your email, you probably have enough computer savvy to begin basic selling on eBay.
• You need to find a stream of product(s) you can sell for a profit. (This challenge is hardly unique to eBay, however. There’s no business in the world that doesn’t require a product.)
• You’ll have to handle the packing and shipping of every item you sell.
THE EBAY “BACK END”
One of the most unrealized facts about eBay is that it has enormous potential beyond the immediate profit of selling the product you have listed. Did you realize that you can actually make customers out of people who never even bid on your auctions? How? This is the “back end” of eBay. It’s an incredibly powerful concept.
If you choose to build an income stream through the power of eBay, then mandatory reading for you needs to be Jim Cockrum’s book “The Silent Sales Machine Hiding on eBay”. Jim fully explains how the “backend” of eBay can be a windfall for you.
eBay is a great option for building a solid income stream on the internet. It takes hard work, but it has already afforded a lot of people the opportunity to get out of the rat race and take control of their future in their own business. It also has great potential to serve as the hub of an online business that extends much further. More about that in chapter 6 when we talk about The Power of “Synergy”.
For now – take another look at eBay! It’s just the first of the great income streams we’re going to consider. Each one can be a pillar of profit for you.
RECOMMENDED RESOURCES – EBAY
Zero to eBay Hero” (Download) – by Mike Enos This resource is awesome, and it’s a FREE download from our site! Mike has made a fortune on eBay, and teaches it better than just about anyone.
“77 Tips for Buying & Selling on the New eBay” – by Skip McGrath. Another FREE resource. Skip and his wife Karen are fantastic people. I call their site a “no-spin zone” – just great, honest help. Apart from being eBay Powersellers, Skip is a published author off the internet. Look for his outstanding books about eBay at your local well-stocked bookstore.
“The Silent Sales Machine Hiding on eBay” – by Jim Cockrum. You can sign up to get Jim’s great newsletter for FREE. His book will cost you something (it’s priced VERY reasonably!), but it is “the Bible of the backend”. I promise you that you will see eBay in a whole new light after you read it. Jim is brilliant and inspiring. (He still owes me a few nights of sleep when I couldn’t put his book down!)
1. Think about what you want from building an online income. What are your goals?
2. Surf on over to eBay and have fresh look around. See what people are selling. Check out some of the eBay Stores people have opened. If you were to choose eBay, what kind of products do you think you might enjoy selling?
“Affiliate Marketing”. Does that term make you sit up, and your heart start beating faster? Or are you very skeptical about it? I can completely understand both reactions.
On the one hand, Affiliate Marketing is without a doubt an exciting opportunity that anyone can claim a part in. Did you know that in 2006 (the most recent figure we have), more than $6.5 BILLION was paid out in commissions to Affiliate Marketers? And the numbers have only climbed since. That’s a big pie – wouldn’t you like a slice?
On the other hand, all those recruitment pitches we endure on the net have a tendency to make us jaded, right? Every one of them wants to sell you their particular method of marketing, and typically they promise that you’ll (a) be wealthy overnight, and (b) you really won’t have to do all that much to make it happen.
I want to give you a more balanced and realistic picture. Affiliate Marketing is not as easy as those unscrupulous sales pitches would have you believe, but neither should you write it all off as just an empty bubble.
WHAT IS AFFILIATE MARKETING?
It’s actually a very simple concept. Individuals and companies want to promote their products without paying out for advertising costs to get every new customer. (Remember what we said in chapter 1, the biggest issue for ANY online business is GETTING TRAFFIC.) So they offer a commission to anyone who is prepared to drive traffic to them.
Some companies are prepared to pay their Affiliates for every lead they generate, although there are admittedly fewer who do this. The industry standard is now to pay a commission per actual sale. The commissions vary from 5% through 95% (in the case of some digital information products) of the sale price. The average is probably somewhere around 30% to 40% – but you can certainly find many programs that do offer higher than that.
When you think about it, Affiliate Marketing is a Win-Win-Win situation:
• The Merchant wins because they ONLY have to pay for actual sales (no risk of expensive ad campaigns that do not generate enough sales to be profitable.)
• The Affiliate wins because they have an opportunity to sell products without outlaying money for inventory, or having to ship product. In fact, once the referral is made, the Affiliate’s work is done. Nothing to do but cash the checks!
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• The Customer also wins because they were directed to find the product they wanted to purchase (aren’t we all thankful for retail sales people when they save us time by pointing out what we need?)
And that’s it. Simple! Right?
Well, I said it’s a simple CONCEPT. That doesn’t mean it’s always as easy in practice.
• If finding and driving traffic wasn’t a challenge, the Merchants wouldn’t even need Affiliates. They’d get the traffic for themselves, and save the commissions. Driving traffic is certainly a skill. Fortunately, it’s a skill that you CAN learn. But you are going to have to be prepared to do that – dig in and learn your trade.
• To make this a significant income stream, as you go on you will probably need to develop at least some understanding of html code (the language that web sites are built from). Now, don’t let this put you off. It may sound daunting, but a lot of today’s tools make it much easier, and you don’t need to know everything at once.
• You need to go into it understanding that it is a very competitive market. Hundreds of new people every day set out to make it in Affiliate Marketing. But if you work hard over the long haul, and are persistent, you will leave the competition behind. Unfortunately for many of them, they have bought the lies and exaggerations and expect everything overnight. In this game the real rewards come to those who last.
WHAT WILL YOU NEED TO INVEST
Keep in mind that to be successful, you MUST treat this as a real business. Compared to a traditional “brick and mortar” business offline, your overheads are going to be insanely low (almost negligible). After all, that is surely one of the biggest attractions to most online opportunities.
Nevertheless, there are some costs:
1. Some money for the right tools.
Now, there are a lot of things you CAN invest in, but the essentials are actually very few. Let me mention the two most important:
FIRSTLY: Web Space. You can actually get started without spending a penny, but even if you don’t get it straight away, you are going to want to have a web site of your own.
DO NOT make the mistake of falling for someone’s offer to “give” you your own completely pre-built web site stocked with 1001 products. (And for goodness’ sake DON’T PAY OUT MONEY FOR ONE OF THOSE.)
With a couple of exceptions, such web sites are pitifully ineffective. NO web site can come “pre-packaged” with traffic, so you still have to drive it there, and you’ll be working very hard to get customers essentially for someone else. That’s how they make their money.
When you set up your own web site, YOU can choose which products to promote, and how you want to present them. The good news is that, as an Affiliate Marketer, your web site does not need to be elaborate. In fact, that can work against you. Successful Affiliates have professional looking, effective, but simple sites. A lot of Affiliate sites are actually just 1 or 2 pages. They are called “minisites”.
Blogs have become hugely popular with Affiliates, and they are the simplest of all sites to set up and maintain.
Web hosting has become very inexpensive. You should be able to set up for as little as $10 per month (or even less). Don’t be daunted because you don’t know
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how to build a web site. Some web hosts now provide templates and tools that really do make it possible for ANYONE to have a site.
SECONDLY: Don’t wait too long to invest in a good “autoresponder”. This is a software program that manages an email list for you.
The thing you will hear most in online business is the saying, “The money is in the list”. Your ongoing success will depend on growing a customer base. A basic principle of sales is that it’s always easier (and cheaper) to keep an existing customer than to have to go and find a new one. The sooner you start building your contact database the better. Autoresponders are the ONLY way to go for this.
Now, for both web sites and autoresponders there ARE solutions out there that are completely free, and you might be tempted to start out using these services to minimize your initial outlay. I don’t want to say that’s wrong – the idea might have some merit. But weigh it very carefully. Sometimes “free” can end up being very expensive!
For example, if your “freebie” web site is full of ads placed there by the provider, (a) they are distracting to visitors and (b) they make you look very unprofessional.
If your “freebie” autoresponder fails, and you lose the list you’ve spent weeks (or years) building, you won’t think it was such a good deal after all!
2. An investment of time and persistence.
Be prepared for this very real cost also. You will need to work hard, especially in the initial stages when you are getting set up. But this is what you will be paid for later on. “No pain, no gain” is ALWAYS true. You only EVER reap according to how much you have sown.
And be prepared to hang in there when others give up. That’s ultimately the difference between the winners and the “also rans” in this game.
3. Some time and money to learn.
You want to avoid two extremes in this. Firstly, if you buy every eBook, every piece of software, and every tool you read a review of you’ll go broke! But also you’ll become so completely confused and overwhelmed, the information will be a harm instead of a help to your business. A teaspoon of good advice TAKEN is better than a bucket full of excellent advice that you’re drowning in and can’t DO anything with!
The other extreme is to not ever invest in your own growth. Now, it’s true that there’s a lot of material out there on the net that costs nothing – but you usually get what you pay for too! Be prepared to set a modest budget for learning.
For my part, in this eBook I’m trying to steer you in the direction of a sensible amount of GREAT resources.
WHAT IS A “SUPER AFFILIATE”
You’ll hear that term thrown around quite often. It’s one of those things that means something different to everyone. However, the figure that seems to come up repeatedly as a bench mark is around $10,000 per month. When someone is earning at that level and above, they will be referred to as being in the ranks of the “Super Affiliates”.
Are there many such people? Yes there are! And it is their existence that keeps fueling the dream for others to rise to that level.
YOU can get there! You’ve got to believe in yourself, and be willing to work hard and long. But PLEASE do not fall for those “overnight” schemes. (Have I said that enough times yet?)
RECOMMENDED RESOURCES – AFFILIATE MARKETING
“The Super Affiliate Handbook” – by Rosalind Gardner For sheer inspiration, and down to earth advice, you can’t go past Ros! This woman with no previous business experience now pulls down $435,000+ per year as an Affiliate. Not too shabby!
Aweber There is no doubt in my mind that Aweber is THE BEST autoresponder on the web today. Check them out. You can test drive them for FREE.
Site Build It! Are you really nervous about your ability to put together a web site. SBI will change all of that! Click the link to go watch their video.
1. Whatever online business you choose, are you ready for the commitment it will take to be successful?
2. What budget are you prepared to allocate both in time and money? How many hours per week can you give to work it?
Information products are now BIG business on the internet. Every day hundreds of new products are released, and there seems to be no end to the appetite of online consumers for them. This is a very exciting phenomenon.
In the previous chapter we were talking about the opportunities in Affiliate Marketing. A good percentage of THAT business is in representing and promoting all of these information products we’re going to talk about now. So this is the other side of the industry. The “production” side if you will.
Now, when I talk about “Information Products”, it’s likely that the first things that come to your mind are eBooks. But that is hardly the limit of what we’re talking about. People are producing and selling information in the form of:
• eBooks • reports (short 20-30 page eBooks) • interview transcripts • lists and directories
PLUS, there are also: • CD’s • DVD’s • VHS video tapes
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• Software • Web Templates • Printed books and manuals • Photograph collections • Maps • Plans & building instructions
And the list goes on! You will find all of these products being created about every conceivable subject. In addition to covering big markets like “How to Sell on eBay”, there are products now available for all kinds of small niche interests (in fact these can be some of the most lucrative ideas, because the information is usually specialized and the competition is much more limited).
Here are just a few of the simple titles that we’ve come across online recently that are selling like gangbusters!
• “How to Make Headbands” • “Baby Safety Tips: How to Keep Your Baby Safe” • “Digital Photography Secrets” • “The Truth About Building Muscle” • “Pizza Recipes” • “Video Chess Tutorial” • “Recycling Gold, Silver & Platinum Scrap for Profit.” • “Make Money in Swing Trading” • “How to Make an Easy $6K-$10K / Month on eBay in FASHION!”
Just think about the benefits of choosing information as your product to sell:
1. An information product can literally cost NOTHING to create. With a little work, for example, you can write an eBook or a report, or compile a list, or record an interview, and abracadabra … you have a product that can be sold over and over and over again.
2. Most types of information product are (or can be converted into) digital format. As such they can be set up for instant download by the customer, and this can be completely automated so that you can be selling and delivering items even while you sleep, vacation, or just work your day job!
3. There is no need for large product storage areas. If your information is digital, it is simply stored on the hard drive of your computer.
WHERE CAN YOU FIND INFORMATION PRODUCTS TO SELL?
You have TWO options here:
1. You can purchase products online that come with the rights for you to resell them.
This kind of product is available all over the internet. Google the search phrase “resale rights”, and have a look and see for yourself how many eBooks are available.
Now, there are several types of resale licenses available. Watch out for these terms:
• Resale Rights. You are licensed to resell the product to customers and keep the profits of all sales for yourself.
• Master Resale Rights. You are licensed to resell the product, AND to pass on resale rights to your customers. So they in turn can resell the product. (Reminder: You own the Master Resale Rights to this very eBook that you’re reading. See page 2 for license details.)
• Private Label Rights. You are licensed to edit the information yourself as you see fit. You can put it into different formats. After altering it, you can even put your own name on it as author. In other words, you have purchased the right to use the product as “source” material to create your own information product.
This leads us to consider your other option. Rather than only purchasing other people’s information products to sell, you can:
2. Create your own information product.
Now you might think that you don’t have the ability to produce your own information product. After all, you’re not a writer.
Hold on! There’s always more than one way to get a job done. Before you get all worried about creating the product, just take one step at a time.
What you need to begin with is an idea for a topic that you think people might be interested in paying to have some good information about. So what are your own interests? Do you have a hobby, or a special skill that you’ve learned in your lifetime?
Start brainstorming about it for a while, and you’ll be amazed at how many topics might occur to you that you do have some knowledge of. Then you can think about how you’re going to turn that into a product. Perhaps you’ll feel inspired to write after all – just start making some notes, and see what happens. But there are other alternatives.
You can simply purchase an eBook with Private Label Rights (as I mentioned above), and use it as the basis for a new product. Make it your own by adding and editing, and then it’s your eBook.
Or perhaps you could interview a well known expert in your chosen field. Simply record the interview and then have it transcribed – either type it up yourself, or pay a service to do it for you. Or you could have the recording itself prepared and edited for sale as a CD.
Another alternative is to hire a professional to take your idea and “ghostwrite” an eBook or report for you. It may cost you up to several hundred dollars, but if your idea is good and it has a market, these costs could be recouped quickly, and after that you will own the product and so all subsequent profits are yours.
Did you know there are online entrepreneurs who are building a great business selling their own republished versions of old books and other materials that have now passed into the Public Domain.
Is that legal? Yes it is, providing you follow the rules. I recommend that you familiarize yourself with the basics of copyright law as it pertains to Public Domain properties, but this could provide you with some great opportunities.
HOW WILL YOU SELL YOUR INFORMATION PRODUCT?
Here’s where it gets exciting!
There are, in fact, several different business models you can use to make money with information products.
1. Selling products for maximum profit
This could be as simple as selling your own products on an auction site like eBay (we’re back to the lesson in chapter 1 again). If you go onto the eBay site and look up the category “Everything Else” you will find a subcategory called “Information Products”. Check the listings and you will see that a LOT of people are using eBay to successfully move their information products.
Skip McGrath is one example of someone who has made good money this way, and teaches others how to do it.
Up until March 2008, eBay allowed people to sell their information products as digital downloads. This was very convenient and extremely popular. But eBay then made a change, claiming that the system was being abused to manipulate customer feedback rankings. eBay now require that a physical product be shipped in every transaction. When that change was made, a lot of people complained that this would kill all the information seller’s businesses. It did not do so; in fact it
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had the effect of weeding out a lot of lower quality product, and improving the market for the better operators. It’s cheap and easy enough to ship a data CD to a customer and fulfill the eBay requirement, so smart business people found ways forward to still be able to capitalize on eBay’s extraordinary traffic opportunity. In business, the fittest always survive and thrive!
But auction sites are not the only way to sell information products. You could have your own website promoting your product, and a payment facility, and drive traffic to it.
For a one-time fee you can set yourself up as a merchant on Clickbank – the premier website on the internet for digital products. They will then handle a lot of things for you and make life MUCH simpler. They will list your product where Affiliate Marketers can pick it up and promote it for you. You determine what commission to pay out, but whenever sales are made, Clickbank will take care of tracking which Affiliate should receive the commissions, and pay them for you, sending checks to you for the remaining profits (less a small fee).
Imagine having your own army of salespeople busy around the internet 24/7 promoting YOUR product! (HINT: Don’t leave it up to Clickbank to recruit your Affiliates for you. Find ways to get them yourself.)
2. Selling products with more than the initial sale in mind
This is a whole different philosophy. Have you seen all those eBooks being sold on eBay for 0.99 cents? The seller can’t be making any money, right? I mean, just the eBay fees alone mean they’re actually LOSING money on every sale, right?
Would it surprise you to know that some of these sellers are making HUGE profits? How? They are not looking to make money on the sale of the initial product – in fact, they may even be happy to give the product away for free! They make their money AFTER the sale. They make their money on “the back end”.
If you remember back in chapter one I mentioned “The eBay Back End”. Many eBook sellers are building their whole business on it.
Here’s how it works (in brief). Someone buys an eBook from you, and it contains links to other products on the same subject. If they click one of these links as they are reading, and decide to buy the product that is advertised, you get a commission. (In other words, it’s another form of Affiliate Marketing – see chapter 2.)
Also, you can include with each eBook you sell an invitation to subscribe to your newsletter. You might offer a free bonus for people who sign up. Once you have captured their email address, you can promote more products to them in the future. You can make them your customer forever (or for a long time anyway).
So selling eBooks can be used as a way to build your list. Remember the mantra? Just about everyone making money online says exactly the same thing – “The money is in the list”. Do you know WHY so many successful people say that? Because it’s true!
If you are interested in selling information products, and especially if you want to understand how to set up a whole system to make money “on the back end”, you can’t go past John Thornhill. He has helped many people build great businesses selling eBooks and other information products.
RECOMMENDED RESOURCES – INFO PRODUCTS
Planet SMS Mentorship Monthly This is John Thornhill’s mentoring site. Sign up and you’ll get John’s exclusive monthly material. John is refreshingly honest and down-to-earth. He’s one of my favorite guys to read. Personally, this is one resource I will not be without.
“How to Write and Publish your own eBook in as little as 7 Days” – by Jim Edwards & Joe Vitale Two men I respect a great deal have released this most incredible, step-by-step tool on writing your own eBook. Joe Vitale, a master copywriter and Jim Edwards, a syndicated newspaper columnist. You’ll believe you can do it after you read this! And you’ll have a step-by-step plan!
“How To Create and Sell Information Products on eBay” – by Skip McGrath. Skip has done it again! His products are always of the highest quality.
Clickbank This is the link to begin checking them out.
1. Come up with a list of hobbies, unusual interests or special skills that you’ve learned in your lifetime.
2. From this list, what topics can you come up with that other people might want an information product about?
When I say “Advertising Revenue” I’m talking about allowing ads to be displayed on your websites or blogs which pay you a small fee every time someone clicks on them.
By far the most popular such program on the internet today is Google Adsense. There are other similar programs, but let’s talk about Adsense because it’s so well known. What I will say, however, will equally apply to their competitors.
WHAT’S INVOLVED IN SETTING UP WITH ADSENSE?
It’s a very straightforward process. You sign up at the Adsense site, decide where on your web pages you’d like to “sell” some space for advertisements, and also what kind of ads you’d like to appear – single liners, small paragraphs, or larger banners. You can even choose your own color co-ordination. Then you simply paste a few lines of HTML code that Adsense supplies into your pages. (Adsense provides quite simple instructions about how to do that.)
Adsense then takes over. They decide which ads will be displayed using quite a sophisticated program that scans the subjects covered regularly on your site and displays advertising that is contextually relevant to that material. This has two benefits: (1) the ads “blend in” to your site, and appear less obtrusive, and (2) they are more likely to be clicked because the reader is already interested in the subject.
THE KEY TO MAKING THIS VERY PROFITABLE
If you already have a website or blog, you can literally be set up with Adsense and be displaying their ads in about 5 minutes. If you need to create a blog from scratch, that too can be underway within a half hour (although Adsense may decline your request for ads until you’ve developed the content sufficiently for their system to contextualize the ads). A web site might take a couple of days or longer to fire up, depending on your previous experience.
The challenge as always, however, is TRAFFIC! How will anyone find your blogs or websites? Why would they want to visit them? And what will make them keep coming back?
The answer to all of those questions is Content! Content! CONTENT! You need to fill your website or blog with great, relevant, regularly updated articles, news, humor, videos, mp3′s, or discussions. When you do this (especially paying attention to include popular “keywords” that internet surfers use regularly to find the information they’re looking for), you can hope to attract the attention of the big search engines and get your site ranked highly. This will bring in the traffic.
When people surf in to your site, they will stay and read – and hopefully bookmark you to return often – because they need or enjoy the material you’ve made available. As you build an audience, your ads will almost certainly get clicked more and more.
Now, you’ve probably already realized that all this content you need to put up is going to take considerable time and effort. Then you’ll also be waiting for the search engines to start picking you up, and then moving you up their rankings.
So if you were to choose this as your primary income stream, you need to understand that, using just these ordinary methods, it’s going to take a while before you start to see any significant checks.
HOWEVER, there are a number of things that you can do to speed up the process considerably. For instance, there are ways to generate lots of great content without having to write it all yourself. You can also drive traffic to your sites in other ways than just relying on the search engines.
Now, one of the things a lot of people consider doing is making Adsense a supplementary income stream. By that we mean putting your efforts into one of the other methods we’ve talked about, but registering your sites with Adsense as well. If you’re successfully driving traffic to those sites anyway, then the ads will get clicked sometimes and you’ll make extra money.
BUT TAKE CAUTION! If you have a site that is dedicated to Adsense revenue, then the content is just there to bring the traffic. Once they arrive you’re happy to see them click an ad and head off.
But if, on the other hand, your site is dedicated to selling or promoting a product, advertising might very well be a distraction. You don’t want the potential customer for your thirty dollar e-book to leave your site prematurely by clicking an ad that brings you in 50 cents. You can see how it’s possible to shoot yourself in the foot if you’re not careful.
Adsense is a great source of income for some people. If you’d like to explore the Adsense opportunity further, check out the following resources.
RECOMMENDED RESOURCES – ADSENSE
Adsense Videos (Download) – by Michael Cheney. Here’s another FREE download from our website – Michael Cheney’s own eBook about working with Adsense. A great resource to start you off. If you’re going to work with Adsense, get the videos! Don’t mess around with anything else. You’ll be watching over his shoulder as he walks you through EXACTLY how to do it successfully. Michael IS the guy you need to hear on Adsense.
Google Adsense Follow the link to the Adsense site where you can get more information, and sign up in just a few minutes. It’s FREE to join.
Blogger There are a number of sites you can use to get started with your own blog. Blogger is owned by Google. It’s well set up and very easy to use. It’s FREE to join.
WordPress Blogger used to be the big name, but these days WordPress have surely moved out in front. The great thing about WordPress is that they make it very easy to either have a blog on their site, or host your own. Again, FREE to join.
After having now reviewed the major Income Streams:
1) Quickly skim back over these past chapters to remind yourself of the amazing opportunities of online business.
2) Does one of them particularly excite you more than the others right now?
THE GOLDEN KEY OF SUCCESS
CHAPTER 5 “Focus”: The Golden Key
OK, we’ve laid the foundation of understanding the main kinds of income stream that you can build online. It’s time to talk about the principle I am convinced is THE difference-maker between success in your online business, and bitter failure and disappointment. THE GOLDEN KEY. It’s what this eBook is really all about.
I read a statistic recently, how that one survey found more than half of the people trying to make a living online have only been at it for less than one year. If those numbers are correct, what do they tell us? Two things:
Firstly, that every day more and more people are attracted to the promise of making it working for themselves through this powerful medium. There is a constant flood of “newbies” ready to give it a go. And the second thing it tells us is that there is an almost equal dropout ratio within one year!
Sincerely, I don’t want YOU to become one of those statistics. If you have set your sights on the online opportunity, dreaming of a better quality of life for yourself and your family, then I want you to succeed. WHY are so many failing and falling by the wayside?
Here’s why. A lot of the problem comes back to the sales pitches – the way the opportunities are being presented. The exaggerated claims, all the hype, and the unrealistic promises.
The Golden Key of Success Page 45
Now, don’t get me wrong. I believe the opportunities on the internet are fantastic. If I didn’t believe that I wouldn’t be building MY business in this environment. I believe you can build your business faster, and run it leaner, and take it further here than anywhere. Plus it’s fun! And I’ve met some really wonderful friends along the way.
But, as I talked about in the first chapter, anyone who promises you instant wealth and for little or no effort is LYING! Period. The sooner you stop falling for that nonsense, and resolve that you’re going to work hard and steadily build your income streams, the better.
There is just so much of that misleading hype out there. SO, here’s what happens. The average newbie reads the sales copy, and shells out the money to buy into some plan that cannot fail to flood their Paypal account by the morning. But two weeks later, when they’ve stared at a computer screen non-stop night after night, and they haven’t even made $50, they’re disappointed. And they wonder what they did wrong, and how much of an idiot must they be if they couldn’t make it work.
But then they see ANOTHER sales page. This one sounds perfect – it can’t fail! So they empty their Paypal account of the one commission they made in the first venture to buy into this NEW opportunity. And they repeat the whole wretched affair over again. Multiply that out by a dozen attempts they make over the next 6 months – often trying 2 or 3 schemes at a time – and now disappointment has turned to disillusionment, and they give up.
That is the story that is happening every day on the internet. I’ve heard stories of people racking up thousands of dollars in credit card debt for product after product that promises to be THE system that will do it for them.
Now the fact is, many of those programs actually have some merit. Some people ARE making good money from them. The problem is that it was sold in such a way that our friend thought all he had to do was “turn it on” and sit back to rake in the huge profits. That is just not realistic.
What if I told you that I could NOT promise you’d be independently wealthy by 5.00pm tomorrow, but that if you worked consistently, applying proven principles, that you could make several hundred dollars next month. And then, if you kept at it, you’d increase it the following month – maybe even crack $1000. And then grow it by 50% the next month, and so on. Until your business is providing you with a really nice 2nd income. And then even progress to a full-time income. And from there you just keep on building …
Most people OVERestimate what they can achieve in a month, but they UNDERestimate what they can achieve in a year. Question: Where do you want to be a year from now?
And what if I told you that consistent work and applying the proven principles are actually more important than any particular plan that you choose to buy into. That if you commit to learning the basic internet business skills that we ALL can master, you’ll be able to succeed in any one of thousands of ventures.
THE GOLDEN KEY of success is so simple, but it is profound. “FOCUS”. That is all the difference between making it, and washing out. FOCUS!
But there’s a lot to be said about this. Let’s talk about it.
You need to develop a Laser-like Focus. Focus is going to do several critical things for you.
1. Focus means you will SELECT ONE VENTURE and stick to it completely, until either you have made a success of it, or else you have proven that it CANNOT succeed, because it is fundamentally flawed in some way.
2. Focus helps you to reduce the information overload. If something is not pertinent to what you’re working on right now, you’ll lay it aside so you’re not distracted. You’ll give no place to confusion – you’re FOCUSED. You will lap up anything that IS timely and helpful, but the rest you will intentionally ignore.
3. Focus will stop you from procrastinating. You will have a singular vision that motivates you to do what needs to be done, even when you don’t feel like it.
4. Focus will save your resources. It’s surprising how much we waste when we are not focused.
5. Focus will cause you to see your single venture through to completion. When is your involvement in a venture “complete” so that you can move on to something else? Answer: when (A) it is being PROFITABLE, and (B) it has been made completely AUTOMATED. This is important, and we’ll return to it in the next chapter when we talk about “The Power of Synergy”.
Does all this mean, then, that we should just focus on one project for the rest of our business lives. No, it doesn’t. It simply means that you won’t start on project 2 until project 1 is completed.
All of those internet business “gurus” we read about have this in common. I’ve heard many of them tell their stories. Invariably today they have multiple income streams – BUT none of them started out that way. They each had that laser-like focus on just one thing. They worked it until they had some success with it, and they built from there. And later on they diversified in a planned way (again, more on that in the next chapter).
Through the first part of this course I outlined some of the major Income Streams that are available to you. Each one has been proven by many people who’ve built great businesses using them. They are not the only ways to make money online, but most of the other ways are merely variations on these same themes.
It’s time for you to start making some choices. If you want to succeed you HAVE to get focused. Laser-focused. So the first question is, “Which stream will you choose to pursue from this point?” No one can answer that but YOU.
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Which of the Pillar Income Streams will you choose to focus on?
In the next chapter I’ll share with you “The Power of Synergy”. This is an awesome lesson, and after you’ve read it I think your head will be much clearer about exactly how you need to move forward.
“The Power of Synergy”
The principle of FOCUS means that to be successful you have to block out the many other voices, distractions and even great opportunities that come along, in order to concentrate on building ONE thing. So many people fail in online business simply because they try to do everything, and in the process achieve nothing much at all.
Even today, after living by these principles myself for a while, and having built multiplied income streams, I have to keep reminding myself of the need for focus. There are so many new opportunities coming along every single day – and they all look so good. (There’s a lot of good copywriting out there!)
But I am working a plan. I have to stay with the project I’m perfecting, and see it through. THEN, when it’s SUCCESSFUL and AUTOMATED (get those 2 words burned into your head), I can add something new. That brings us to “The Power of Synergy”.
[Dictionary definition – syn er gy: "The interaction of two or more agents or forces so that their combined effect is greater than the sum of their individual effects."]
Let’s start off with a picture. Do you enjoy fishing? Many people do – some couldn’t imagine anything more boring.
When I just mentioned the word fishing, what picture came into your mind? I can almost guarantee that you saw in your mind’s eye someone with a fishing pole in their hand, perhaps by a river or a lake. That’s a popular image of fishing. BUT, professional fishermen don’t usually do it that way, do they? They’d go bankrupt if they did! Next time you sit down to eat at Red Lobster, realize that the fish on your plate never had a hook in its mouth – it was undoubtedly caught IN A NET.
That’s how you catch a lot of fish. With a net. You put it at just the right depth in the area of water where whole schools of fish ought to be (you might even use a fish finder to locate them), and they swim into the net in large numbers.
Working online successfully is built on the same principle. You have to build a net. Fishing by pole is fun for a while, but it’s not the way to catch a lot of fish – and no way to run a business.
Let’s elaborate on the illustration further. Online there are 3 levels you can operate at:
LEVEL 1: Fish by pole. It’s very hit & miss – I call it the “make a little bit every now and then” level. Some examples: Selling a one off item on eBay or posting an affiliate link in a forum discussion. Using methods like these, you set out a hook, and you MIGHT sell one or two units of a product.
LEVEL 2: Fish with a net. This is the level where you can start to generate some significant income. An example: you build a niche website and optimize it for the
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search engines to find it easily, and then you drive traffic to it. You can start to sell multiple units every day, even when you’re not around or while you’re asleep (OR while you’re working on something else!) That brings us to:
LEVEL 3: Fish with numerous interconnected nets. “The sky is the limit”. Here’s where the power of synergy kicks in. Imagine multiple income streams that are all successful and fully automated, requiring very little maintenance, each linked to the others.
Let’s have an example.
You set up an eBay store selling information products. You automate the posting of regular listings, and “outsource” the packing and shipping of the product (to your teenage kids working for pocket money, and learning about how to do business at the same time! Win – win.)
Once this first “net” running along nicely, you work on a new project to start building a list of customers. You sign up with an autoresponder, and begin collecting email addresses. Of course you can link this to your eBay business by redirecting people who visit your eBay store to an opt-in (or “capture”) page.
Once that’s working successfully and automated, you build a website to begin promoting other people’s products as an affiliate. This connects with your other interests by links from your eBay identity, and you start sending people on your list to your affiliate links as well.
The Golden Key of Success Page 53
You then start a blog to promote more traffic to your web site. You fill the blog with Adsense ads and generate another income stream through the blog itself.
And on it goes. You could have chosen to add nets in very different ways. After the first successful eBay store, you might have chosen to add a second store in a different niche – finding creative ways to link them together.
What’s important is to get the principles down, and work them. Build your business net by net.
To summarize, then:
1. FOCUS. Work on just one project at a time. You aren’t ready to move on until the present project is both SUCCESSFUL and AUTOMATED.
2. Diversify your income streams. 3. Look for ways that you can link your streams and harness the power of synergy. That way when you work on one income stream it has a flow on beneficial effect on your other streams. WOW!
Sound complicated? It really isn’t – as long as you stick with THE GOLDEN KEY. Work on building ONE (and ONLY one) income stream at a time. Start at level 2. Build a simple net. Make sure that “net 1″ is fully automated and profitable before you move on to build “net 2″.
And so on.
Well, there you have it. A simple philosophy of business that could make you a lot of money as you discipline yourself to apply it and stick with it.
It really is not rocket science. Remember the old saying that “success is 10% inspiration and 90% perspiration”. Just work hard and steady and stay focused.
Notice that nowhere have I prescribed “this one great program of mine that will make you a millionaire, like nothing else will.” The fact is, YOU are in control of your destiny – not me, nor any of those so-called “gurus”. There is NO “one” great way to make money online. There are an unlimited number of ways – some that you can find out there right now, and some that haven’t even been invented yet. Maybe YOU’LL invent some of them.
Don’t box yourself in by saying you have “an eBay business” – NO, you have an online business. Don’t say you’re an affiliate marketer – you’re an entrepreneur.
You can build an empire of income streams that is unlike anyone else’s. Study to understand fundamental principles, not just “cookie cutter” programs.
CONGRATULATIONS on reaching the end of this Post! Your stickability just to complete this simple task already puts you out in front of the crowd. The sad fact is that many people buy resources like this one, and don’t even bother reading them all the way to the end. They skim read the headings, get excited, then flit off to buy another product.
So I have great confidence that you will go on to great success.
There is not a single resource available on the internet today that will do you ANY good whatsoever if YOU don’t choose to do something with the knowledge you’ve gained. YOU HAVE TO START TO TAKE ACTION!
As I wrap this all up I want to give you some simple recommendations for getting underway, or revamping, your online business based on the principles you now have.
Begin by choosing a project. Which income stream are you going to pursue? Once you decide that, you have some work to do, and my advice is that you FOCUS entirely on that one project. Don’t get distracted or sidetracked.
Hand in hand with the “FOCUS” thing is another problem. One of the biggest reasons lots of people never make a dime online is the old-fashioned problem of procrastination. They would love to be building a business, but they just never seem to get started.
There’s an ancient Chinese proverb that says, “The journey of a thousand miles begins with a single step.” Take that step today. Get underway. A more modern quote goes like this, “Winners are taking imperfect action while others are still formulating their perfect plans.”
Get going. Learn as you go. Strike a balance by not wasting money buying every eBook out there – you’ll only discourage and confuse yourself and lose focus – BUT do be prepared to invest in knowledge and training at an affordable and digestible rate.
Thanks for Reading, –
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