The Nuts and Bolts of Building an Online Business
(c) 2004 Linda J Bruton
The nuts and bolts of making money online are really pretty simple.
You find a product or service to sell.
Then you find the most effective way to sell it.
That's what this e-course is all about - finding something to sell, then looking at the 6 top ways to sell it.
Today, we'll look at the basics. Then in the next few days, I'll show you all the details of how average people are using this information to create above-average incomes for themselves.
Let's start right at the beginning. First, you need a product or service. Obviously, to make money online, you have to have something to sell. So how do you find things to sell that people want to buy?
Unless you already have a large and thriving business (which most newcomers don't), here are your 3 best bets:
1. Affiliate Programs
2. Network Marketing Programs
3. Create your own product or service
Most of the top Internet marketers - the people you may think of as 'gurus' - make their money from 1 or all 3 of these areas. They are terrific for the newcomer, since they don't require hundreds or thousands of dollars of startup capital. And they don't require you to already be an expert.
But that doesn't mean you can just join a program and start selling without any kind of training! That's exactly why there are so many internet 'failures' - they thought this busy was easy, required no training, and didn't take much time. But we already know those things aren't true.
Affiliate Programs
If you sat down and really think about it, I'm sure that you could come up with thousands of products and services that people buy online.
People shop at Amazon.com, for instance, for books. People shop at LL Bean, the Gap, and other retailers for clothes. People buy CD's, tools, DVD's, insurance, home loans, exercise equipment, gardening tools, toys, and hundreds of other products online.
Many of the large merchants making these sales have affiliate programs. If you sign up as an affiliate at Amazon.com, for instance, they will pay you when you send someone to their web site and they buy. Different companies pay different commission percentages, depending on the product.
In one of the next lessons, I'll tell you where to go to find large affiliate networks of some of the top online retailers where you can pick and choose the programs you want to join. You'll have your choice of thousands of products you can sell online and earn a commission from.
Network Marketing Programs
Network marketing is one of the best ways to build a large income without spending a fortune. People have been earning full-time incomes from network marketing since the '40's, when Amway started the first program! People have made incredible incomes offline for many years. And now many people are doing the same thing online.
Network marketing programs are such a good money-maker simply because they pay you 'residual income.' That's money you make month after month after month from the same customers. You don't have to sell to them over and over again, as you would with other kinds of programs. Once they sign up and join your downline, you make a commission on what they buy every month.
Think about this: suppose that the product you are selling pays you a $10 commission per sale. Let's also say that you want your online business to earn you $500 per month as your first goal.
If you were making your money from an affiliate program that pays you a one-time commission - you would have to make 50 sales per month to earn your $500. Please note that I said PER MONTH.
With a network marketing program, on the other hand, you will just need to find 50 people TOTAL who want to join you in building a business. Those 50 people will put $500 PER MONTH into your pocket. Once you have 50 people, you don't have to keep finding new people to
sell your product to, as you would with an affiliate program.
In a future lesson, I'll point you to some of the best network marketing programs for newcomers.
Create Your Own Product or Service
This is one of the most lucrative ways to make money online, since you don't have to split your earnings with someone else.
Remember, with an affiliate program, the merchant makes the lion's share of the profits. You get a percentage of the sales, but they reap the greatest rewards.
You also make a percentage in network marketing programs. However, keep in mind that you also earn income when your downline sales team makes sales. And in many programs, you can earn income from the work of your upline.
Creating your own product or service, however, gives you the freedom to set your own price, market it any way you want, and keep all the profits.
Many top Internet marketers are earning a six-figure yearly income from the ebooks they have written.
What about services? Well, if you are a programmer or a writer, you can make all the money you want online by selling those services. There are even websites that help you find customers, such as ecoder.com.
In a future lesson, I'll point you to some resources that will help you try your hand at creating your own products.
"A hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles."
- Christopher Reeve, 1952-2004, truly a Superman in anyone's book!
The nuts and bolts of making money online are really pretty simple.
You find a product or service to sell.
Then you find the most effective way to sell it.
That's what this e-course is all about - finding something to sell, then looking at the 6 top ways to sell it.
Today, we'll look at the basics. Then in the next few days, I'll show you all the details of how average people are using this information to create above-average incomes for themselves.
Let's start right at the beginning. First, you need a product or service. Obviously, to make money online, you have to have something to sell. So how do you find things to sell that people want to buy?
Unless you already have a large and thriving business (which most newcomers don't), here are your 3 best bets:
1. Affiliate Programs
2. Network Marketing Programs
3. Create your own product or service
Most of the top Internet marketers - the people you may think of as 'gurus' - make their money from 1 or all 3 of these areas. They are terrific for the newcomer, since they don't require hundreds or thousands of dollars of startup capital. And they don't require you to already be an expert.
But that doesn't mean you can just join a program and start selling without any kind of training! That's exactly why there are so many internet 'failures' - they thought this busy was easy, required no training, and didn't take much time. But we already know those things aren't true.
Affiliate Programs
If you sat down and really think about it, I'm sure that you could come up with thousands of products and services that people buy online.
People shop at Amazon.com, for instance, for books. People shop at LL Bean, the Gap, and other retailers for clothes. People buy CD's, tools, DVD's, insurance, home loans, exercise equipment, gardening tools, toys, and hundreds of other products online.
Many of the large merchants making these sales have affiliate programs. If you sign up as an affiliate at Amazon.com, for instance, they will pay you when you send someone to their web site and they buy. Different companies pay different commission percentages, depending on the product.
In one of the next lessons, I'll tell you where to go to find large affiliate networks of some of the top online retailers where you can pick and choose the programs you want to join. You'll have your choice of thousands of products you can sell online and earn a commission from.
Network Marketing Programs
Network marketing is one of the best ways to build a large income without spending a fortune. People have been earning full-time incomes from network marketing since the '40's, when Amway started the first program! People have made incredible incomes offline for many years. And now many people are doing the same thing online.
Network marketing programs are such a good money-maker simply because they pay you 'residual income.' That's money you make month after month after month from the same customers. You don't have to sell to them over and over again, as you would with other kinds of programs. Once they sign up and join your downline, you make a commission on what they buy every month.
Think about this: suppose that the product you are selling pays you a $10 commission per sale. Let's also say that you want your online business to earn you $500 per month as your first goal.
If you were making your money from an affiliate program that pays you a one-time commission - you would have to make 50 sales per month to earn your $500. Please note that I said PER MONTH.
With a network marketing program, on the other hand, you will just need to find 50 people TOTAL who want to join you in building a business. Those 50 people will put $500 PER MONTH into your pocket. Once you have 50 people, you don't have to keep finding new people to
sell your product to, as you would with an affiliate program.
In a future lesson, I'll point you to some of the best network marketing programs for newcomers.
Create Your Own Product or Service
This is one of the most lucrative ways to make money online, since you don't have to split your earnings with someone else.
Remember, with an affiliate program, the merchant makes the lion's share of the profits. You get a percentage of the sales, but they reap the greatest rewards.
You also make a percentage in network marketing programs. However, keep in mind that you also earn income when your downline sales team makes sales. And in many programs, you can earn income from the work of your upline.
Creating your own product or service, however, gives you the freedom to set your own price, market it any way you want, and keep all the profits.
Many top Internet marketers are earning a six-figure yearly income from the ebooks they have written.
What about services? Well, if you are a programmer or a writer, you can make all the money you want online by selling those services. There are even websites that help you find customers, such as ecoder.com.
In a future lesson, I'll point you to some resources that will help you try your hand at creating your own products.
"A hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles."
- Christopher Reeve, 1952-2004, truly a Superman in anyone's book!
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