Making Money – Where to Start
I get a lot of questions about making money online. Often, people will ask me about specific products. “Will this product allow me to make money?” I say no. “How about this one?” I say, “I reviewed that, and it’s not a good product.” “Is this one any better? I need to make money!”
Questions like these are common, but they’re also the wrong questions. A lot of people see ads for products in the make money niche that claim they’ll make it easy for you to earn $100, $500 or even $1000 per day. Often they’re sold with claims of “push-button ease,” “autopilot profits,” or “make money while you sleep.” Some of these products are actually capable of helping you make money, but if you’re new, you’re destined to fail, even with the good ones. Why?
Making Money is a Process, Not a System
Most of these “systems”, no matter how well-intentioned, assume that you know something about the process of making money online. If you’re a complete newbie, you may very well not understand the process at all, and if that’s the case, then even a good idea for producing making money isn’t going to help you if you don’t know how to properly implement it, or if you don’t even know enough to tell if it’s working the way it’s supposed to work.
I once purchased a $1500 software product that offered to build Websites for me with push-button ease that would make money automatically. The software actually worked exactly the way the sales page said it would. How much did I earn with it the first month? $50. Why? Because it took me about two months of working full time with it to figure out what it did and how it did it. More importantly, I learned what it did not do and I needed to learn how to do that part myself. Within a few months, I was making a lot of money with it, but anyone who is new to the idea of making money online would likely have thought the software to be useless.
In order to go about making money online, you first need to understand the basics. There are a few essential steps for making your online business work:
- Find a need in the marketplace.
- Find a product that fills that need.
- Build a Website that offers that product to the public.
- Get visitors to come to your Website.
“Wow!,” you’re thinking. “That’s only five things!” Yes, but each of those things is complicated, and it can take time to figure them out.
Finding a need – There are lots of things that people need. Which one will you sell? Before you get started, you should find a niche, that is, a part of the marketplace that interests you and which will interest your visitors. This can take some time. Similarly, some niches are much more competitive than others. If you’re going to pick a niche and you’re just starting out, you’ll likely want to pick one without a lot of competition. How can you determine that?
Finding a product that fills the need – Are you going to sell products directly? Are you going to ship things to people in boxes? Are you going to sell downloadable products? If so, where will you find the products to sell? How can you choose good ones? Again, how can you find a product to sell where the market isn’t already saturated?
Build a Website – Have you ever built a Website? Do you know how to build one? Do you know which software to use? Who will host this Website for you? Do you know anything about designing a site and maintaining a site? Do you know how to protect it against hacking? Do you know how to install a shopping cart system if you need one? Each of these things is both necessary and complex.
Get visitors to your Website – Believe it or not, getting traffic to your Website is the hardest part of making money online. Thousands of new Websites are built every day, and they’re all trying to get people to visit them. In order to do this, you need to make the search engines and other site owners aware of your site so that they can help send visitors to you. Alternatively, you need to buy advertising. Do you know how to do this? Do you have the budget for it? Do you understand the various advertising models or how to use pay per click ads on Google or Bing?
Profit! – How will you get paid? Will your customers pay you directly? Will you be making money as an affiliate, receiving commissions when you send your site visitors to another Website where they actually pay for the product? If so, which affiliate networks or companies are worth working with?
If you don’t know the answers to the questions above, or don’t even understand the questions, then you’re likely going to have trouble with any ready-built “system” for making money online. A few of these systems are scams and others can actually work – if you understand the basics.
Before you can start making money online, however, you need to understand the basics. Once you have a grasp of how things are supposed to work, then you can decide how to best go about finding a method that works for you.
Training for Making Money
Fortunately, there are Websites devoted to helping you learn about making money. You’ll be able to learn all of the basics, from the terminology to the technical issues to the part where you have to figure out how to get visitors to your site. You can learn how to pick a good product to sell, how to find the right marketing niche and how to choose the right revenue model.
The best part is that you can get started for free. You’ll find that the more you know, the better off you’ll be in terms of finding the right business for making money online that works for you. It’s important that you realize that making money online is not for everyone, and it’s never easy. In fact, it’s quite hard, and it gets harder every day. But the rewards can be great, if you’re willing to put in the time and effort to learn.