Nov
8
Lesson 3: Ways of Making Money Online
November 8, 2007 | Leave a Comment
Greetings Blog Readers,
I am fairly busy today, with work related and my research. But as I promised I’ll be posting my once a day journal on this blog. 
As I mentioned yesterday on my Lesson 2, we narrowed down ways of making money online to four categories. Without looking at my Lesson 2, can you remember what they are?
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Ok, I hope you actually remember what they are 
The four ways of making money online are:
- Sell affiliations products or also known as JV (Joint Venture).
- Drop shipping products.
- Advertising.
- Lastly, by owning your own product and sell for profit.
Let’s talk about the first one. First of all, what is affiliatiate marketing? I would recommend for all newbies to first look into affiliate marketing. Being an affiliate does not require you to own a product. You can *choose* what you want to market. A lot of affiliations give you very nice incentive, up to 90% on some, typically between 50%-75% off the total price.
You probably have heard ClickBank. ClickBank is the biggest marketplace selling popular, hot selling digital products. When you go to ClickBank website, at the top panel you will see “marketplace”, this is where you can start browsing for items you would be interested in becoming affiliate with. It all depends on your interests, or even your hobbies. There is a good one stop resource to Click Bank here.
Drop shipping products. Drop shipping has changed a lot since the first time it became popular. The key is to find a good list of wholesalers from reliable source. If you are interested please drop me a line and I will give you a link to a reputable dropshipper.
But back to the topic, drop shipping a product is for people who are interested in forming their own online stores or perhaps ebay stores. This is actually my focus. Forming an online business is just the same with forming an actual business, the only exception is that you don’t need to actually own a place or rent a place for your business to run from. It can be as simple as running it from your your home! But keep in mind that you do need to have business license set up. Naming your company should be considered thoroughly. My suggestion is to not make your company with a niche name specific…why? Because you may want to expand and do other things down the road, and your company can fit into different type of niches.
Advertising is another thing I would like to discuss today. This is where you make income through displaying ads on your website, such as Google AdSense. This is a pretty straight forward system, however you must have existing or completed website before you apply for a Google Adsense ID. Read about this more on the Google Advertising site.
Lastly, owning your product and resell. Ok, when we say owning a product, people tends to freak out…this does not mean that you have to create a rocket science. The product we can refer to is a digital product, such as an ebook. Everyone have different interests and hobbies. You can start writing about your hobbies, or anything you have knowledge about. The key is “Information”. People will spend money on buying information that they are seeking for. For instance, one of your hobbies is cooking. You may have a personal recipe that others don’t have, a special recipe that only you or your family knows! Start writing about it…and that’s your ebook. What do you need to do now with your ebook? You want to start selling it, you can do that from ClickBank as I mentioned above, and find affiliates/jv partners that will market your ebook.
Time to wrap up for the day, but feel free to drop me a line. 
Loradove
