and so many business models, and so many different strategies,
and different tactics.
Today I’m going to give you some clarity.
So seven legit ways to make money online, way number one, and that is eCommerce.
Ecommerce I’m referring to selling, let’s say on Amazon, Shopify, right? You’re selling a physical product, maybe you get it from China, you get it from Alibaba, even when you’re selling
products on eBay, right? That’s the e-commerce business model.
It’s one of the most profitable
business models online.
However, it also is the
one that requires you the most amount of capital and experience.
Now you’re dealing with
customer service, right? You’re building a team,
you’re fulfilling the product.
You are dealing with the image, the photo.
You’re driving traffic, maybe through the search engine, right? You’re doing paid traffic.
You are trying to tweak
site so that you get more sales, right? And then maybe you do some affiliate deal.
But your margins are
usually not very very high because you’re selling a physical product.
A B2C model, business to consumer.
So what it means that you
need to sell a lot of volumes to make any significant
amount of money, right? The second legit way to make money online and is dropshipping.
Now, what if you don’t
have a product to sell? What if you don’t have a lot of money, a lot of capital to get
started, then what do you do? Well, dropshipping is another model.
There a lot of people
making a decent amount of money with this model, Now with this model,
you’re basically working with a wholesaler or a distributor, where they have all the products and they would do the fulfillment.
What you do you, you’re actually acting
as a marketer, right? You’re driving the traffic
through social media, email, marketing, your website.
You can set up a virtual
storefront where you take the order and then you send
the order to a wholesaler or a distributor, they
would ship it for you.
Typically they would charge you money, and sometimes they charge
Your kind of handling fee could be $2, $3, or $5.
And that’s how you make money.
Now, your margin is very thin, because you’re selling one item at a time.
You have to be very careful
knowing how much you can spend to acquire each customer,
to drive traffic.
How much you can spend to acquire each visitor to your website.
So your metrics, you have
to know very very well, because this thing, you could
spend a whole bunch of money, and if you don’t make those sales, you’re the one that’s
taking the risk, right? The wholesaler, the distributor,
there’s no risk, right? They only fulfill a product
when you make a sale.
So as a marketer as a drop
shipping business model, you’re the one that’s
doing all the marketing, you have to front end a
a lot of marketing costs, and you only get paid
after you make a sale.
Now, what’s beautiful about the
the affiliate marketing model is you’re acting as a middle person, right? It doesn’t require you
to have your own product, you can choose a handful of good products that you believe in, and you don’t have to
deal with the inventory, you don’t have to deal
with the fulfillment.
All you need to focus on is
being a good middle person to sell these products online.
And you can test different traffic sources and you can pay traffic or free traffic, drive them to the affiliate
offer, and from there, that’s it, right? And you measure and track the performance and then you’ll be able to get a commission
check every single month.
Even after all these
years, until this day, for the work that I did two,
three, five, eight years ago as an affiliate marketer, I’m
still getting paid, right? It still provides a nice
stream of income point for the work that I did so many years ago.
So I love the affiliate marketing model, but there’s one catch.
To be a good
affiliate marketer, guess what? You have to be a good marketer.
You have to know what
you’re doing in terms of doing online type marketing, right? You have to know what is
it that you are working on.
It is not an easy thing, but it is easier than other types of ways
to make money online.
Oh, I got a message here.
(gurgling water) Gotta stay hydrated.
Legit way to make money number four.
And that is SAS, or software business.
It is a model that is absolutely scalable if you know what you’re doing
and you can see companies making millions of dollars,
10s of millions of dollars, hundreds of millions of dollars.
I’m talking about Infusionsoft, it could be ActiveCampaign, it could be GoToMeeting, right? It could be even hosting,
tracking software, a software that solves a
a problem in the marketplace.
(computer chimes) Now this model, why this is so powerful, it’s because it doesn’t matter if you sell that piece of software to one customer or 10,000 customers,
it is the same product that gets replicated that
many, many, many users can use at the same time, and that’s why it’s such
a powerful business model.
And when it comes to technology now, you can hire developers,
you can hire programmers to develop that software for you.
Problem is, a software not done right, you could burn hundreds
of thousands of dollars, millions of dollars
before getting a return.
But if you know what you’re doing, software on the internet absolutely one of the most powerful ways to make millions of dollars online.
Now Google AdSense is
an advertising program that allows you to run ads on your website or blog or YouTube videos.
And you get paid when
visitors click on them.
The ads are generated from businesses that use the Google AdWords account.
Now with Google, you need
to have a lot of traffic.
Maybe you can create some kind of blog, maybe it’s a YouTube channel, but you need a lot of visitors to make any significant amount of money.
Now the good thing is,
it’s free to join, right? It doesn’t cost you anything to join.
But the downside is you need to create a lot of content to create a decent amount of income or
to maintain a good income.
I have a friend of mine who used to make a ton of money with Google AdSense.
At his heyday, he was making
over a million dollars a year with just AdSense and now guess how much his blog’s making him? Less than $30,000 a year.
So, it’s one way to make money, but it’s not as good as it used to be.
Legit way to make money online number six, and that is what I call
the expert business.
Now we’re talking about
packaging your expertise, your skills, your knowledge, your passion into some kind of a product.
I’m talking about online courses, I’m talking about training programs.
I’m also talking about services
that you could provide.
Maybe you are a digital marketer, you are running a social media agency.
You are doing any types of programs that enhance people’s business,
enhance people’s lives.
That’s what I call the expert business.
Number seven, the last legit
way to make money online, and that are through YouTube.
Now with YouTube, you think about YouTube could put everything together for you.
Let’s say you have an e-commerce business, you could create demonstration videos and upload them to YouTube
and in the description, you can drive all the traffic
back to your e-commerce site.
You can do also tutorials teaching people how to use your products
on YouTube as well.
Or if you’re in the
drop shipping business, it is the same thing, you can have various keywords, different types of videos on YouTube that people are searching for right now.
And they watch the video,
they like the product and then click the link and
they could go to your website, your virtual storefront, and buy from you.
And then when you get an order, you can send that to your wholesaler and they can fulfill the
order for you as well.
Now, because the affiliate
marketing business it’s so competitive, it’s not just you as
an affiliate promoting that particular offer,
that particular product.
One of the ways you can
make yourself stand out instead of just driving
traffic to the offer directly, in between you can drive them
to your email list, right? Where you are educating
informing your potential buyers, through YouTube, through
videos, through content, building that trust.
And then once they want
to learn more about it, they click on a link,
and then they could buy your affiliate offer as well.
AdSense, you can combine that, obviously, with YouTube because Google owns YouTube.
YouTube is using the
Google AdSense platform, The expert business, software, if you want to reach a mass
market very very quickly, you can easily run ads on YouTube.
And giving away maybe a free trial, the freemium model for your software, and from YouTube, they can see
it, you can reach millions and millions of people just like that.
And from there, you
can get a lot of users.
Even you want to test out the product, you want to see how
you like your software, that’s one way to do that.
And that’s why I think YouTube if you have a strong YouTube channel, you can combine all these
ways of making money into this one thing.
If you have a strong YouTube
the channel you will enhance any of these revenue streams
that you have right now.
If you want to know how
I grew my YouTube channel from zero to over a million subscribers in record time without
spending a dime on advertising, click a link here and
get yourself registered for my free master class.
I’m going to take you behind the scenes and share with you my personal story, how I became a YouTuber
kind of by accident and how I have made over a million dollars directly from YouTube.
If you want to know how I do that, click a link here or somewhere here and I’ll see you in class.