Breakdown of How to Make Money Online
There are multiple ways you could learn how to make money online, let me share with you a few options. This is a very BIG discussion to have in one single blog but will do my best to get to the point.
Option Number One: Network Marketing
What’s Needed: You need to find a company, preferably with good support, flexible marketing practices and preferably a good level of support. When looking for a network marketing company I suggest finding one with good community, culture, support and training. You will most likely have to be on some form of autoship/monthly fee but don’t worry, this is still the lowest overhead way to make ongoing money.
In my opinion if you want to build a serious network marketing income you NEED to learn how best to communicate. Learning how to prospect is your most important asset. There is where MOST Internet marketers fail as they usually prefer push-button stuff and human beings are NOT push-button.
Advantages: Low overhead. If you think having a monthly overhead is a pain try owning ANY other business. My online costs to run this website are in the tens of thousands per month yet alone ANY form of brick and mortar.
Disadvantages: All companies, including network marketing companies can have changes or go out of business. IF you have put all your BRANDING into one company you could be in a mess, however, unlike MOST types of businesses, IF you have served your team well a large majority of them will follow you to the next company.
Option Number Two: Affiliate Marketing
Affiliate marketing is when you don’t own the product but you suggest it to others via marketing mainly and or prospecting. You are typically provided with a link that tracks all sales and traffic to you. There are a lot of people that make good money with this and I have as well.
Most marketers can learn, over time, to create a six figure income with this model, pretty rare to create a seven figure income though.
Advantages: Still low overhead and typically no monthly fee. You may think this means it is better because there is no mandatory fee but what I have found is most affiliate marketers spend way more than network marketers as there is a higher learning curve and they usually end up testing out advertising and traffic which is way more costly to most new marketers than any network marketing autoship.
Disadvantages: You cannot control the fire. You have no idea, unless you REALLY know the product or service you are marketing, what the people you send to the offer will get marketed. Sometimes it can be in direct contrast to what you believe in but once they enter someone else’s world, you again, have no control.
Option Number Three: Create Your Own Products
If you want to learn how to make money online, you can certainly learn how to create your own products. You find a need in a market and you fill it with whatever your product is. Me for example I create training products but obviously you can create whatever you want for your target market.
Advantages: The highest overhead way to do things but also the most freedom. YOU control every aspect and for some people that is a great thing, for others, that is not a good thing. You get the chance to fully brand you.
Disadvantages: As mentioned before this is the highest overhead in regards to costs AND learning. You have to create the sales funnels, sales pages, deal with merchant account providers, programming, etc. You can certainly outsource many of these things but that will add to your bottom line and to the complexity of your operation.
What do they All Need?
With all three you have to be providing value to the marketplace. That could be by being a great upline with a great product or by creating relationships with you target market or hopefully both. Learn communication skills if you want to master any of the above ways to make money.
So, What to Choose?
Here’s what I know, it’s impossible to write a single blog and FULLY detail out all the intricacies of how to make money online but I hope this gives you a primer. My wife and I have earned over 7 figures in all three of the above categories and we use a hybrid approach of making our own products, selectively promoting SOME affiliate offers and being involved in a network marketing company we love. You can take that approach too or stick to the one that is most attractive to you.
Want me to do a webinar breaking this down further? If so, leave me a comment and if you have any questions I can help with, AFTER you comment below, and will do my best to point you toward a resource based on your question.
To Your Abundance!