In this article, you will discover the 3 best ways to make money online.
The 3 Best Ways To Make Money Online
Most new marketers will come online and ask this common question and this post is aimed to answer that.
But before you dive into the meat and potatoes of this article, I want to give you a brutal truth. Do not think that making money online will not take effort. If you are brand new in anything, it is very normal to take time to learn the necessary skills.
Remember that this journey is not a sprint, but rather, a marathon.
And only those who stay in the long term will succeed!
Without further ado, here is the video on the 3 best ways to make money online.
Best Ways to Make Money Online #1 – Go Digital
Going digital is a smart move, especially if you are not good with keeping an inventory. Imagine that you are retailing, or selling stuffs online, you will need an inventory which will cost you extra money. Furthermore, you will have a big headache if you are unable to sell your stuffs and you will have like 4569 stuffed toys in your garage 😀
The second reason is obvious, you do not need to handling shipping. Digital products can be delivered instantly the moment your customers make a payment. Like what you see on some sales page, “Your product will be delivered to you even if it’s 3 am in the morning!”
Which leads to the next point – you can reach international audience! Your audience will not be confined to your local market. And if you are staying in a developing country like I do, earning currencies such as USD is a big boon!
Best Ways to Make Money Online #2 – Focus On Recurring Income
Cold hard truth – making a sale is not easy 🙂
So, make every sale counts!
Find a product which can pay you recurring income. Come out with a strategy so that you will be able to create a recurring income.
For example, many years back, I was using a traffic exchange system which allowed me to focus getting upgraded members for one particular traffic exchange. I am still being paid regularly up to this date for the effort I put in at that time. It has been 3 years since 😉
The other good example is when I promoted Trafficwave using Trafficwave Success Team. I managed to recruit a good number of downlines, and I am still being paid monthly even when I am currently not actively promoting it.
When you focus on recurring income, your income becomes predictable. Sure, the profits may decline or increase, but you know that a certain amount of income will come in on a particular day of a month 🙂
Let’s say if you make a $10 commission from selling a product and your income goal is $1000. You need to sell 100 of that product.
But if you make a $10 commission from selling a recurring income product / service, you will need 100 customers too.
The difference? From scenario A, you need to sell to another 100 NEW customers while in the latter scenario, you can sit back and predict that you will have an income of approximately $1000 month after month.
Even if somebody cancel their subscription, you will only need to find that one more person again and your income goes back to $1000 a month…makes sense? Yea!
The Best Ways to Make Money Online #3 – Use a Scalable System
This point will go back to why did you decide to start making money online.
The reason is obvious. It is not too much about the money, but it is all about the freedom, especially the FREEDOM of TIME!
The only way that you are going to achieve the freedom of time is to avoid activities which will cause you to consistently exchange time for money.
Yes! You need to put in a lot of work, time, and effort in building that system initially. Eventually, you will want this system to run on almost hands free so that you only need to spend minimum time to maintain it 🙂
Coaching is not scalable because you will always need to trade time for dollars. It is a different case if you love to coach – different people have different definitions of freedom so do not judge 🙂
Utilising paid ads is a scalable strategy – when you find the right campaign which can consistently churn out a positive ROI, all you need to do is putting in more money into advertising that particular campaign (hopefully, building at least one stream of recurring income too!)
Blogging can be a scalabe business model. It will start off slow at first, but as your audience builds up and your traffic grows organically, you will find that you have more free time for yourself.
Personally, building an email list and utilising email marketing is the best system of all systems. The reason is simple, building an email list will work for all niches! And it has been proven to be the most profitable method to make money online 🙂
There are many other ways which I am sure that there are methods which I do not know of too at this point, but always always always think hard on the strategy you want to start off with and be LASER FOCUS on taking action, aiming for the goal you will achieve if you start building your system consistently, on a daily basis.
I do hope you have enjoyed this article and gained massive value from it.
The 3 best ways to make money online are…
- Going digital
- Focus on recurring income
- Go for a scalable system!
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