Posts tagged ‘How to make money online’

Internet Garage Sales, An Alternative to EBay and Craigslist

April 9th, 2009

Let’s say you have a big plasma-screen TV, or a vintage Ford Mustang, or a litter of Siberian Huskies, and you are looking to sell them to a loving buyer. Do you go to eBay, and end up shipping the TV, the car, or the puppies across the country? Well, you could. But it might get ridiculously expensive, and the puppies might not like it. A good alternative is www.livedeal.com. They are sort of a cross between eBay and Craiglist, and they service over 70,000 zip codes in the U.S. So if you have something too big to ship, or if your shipment might get too agitated, try Live Deal.

(original content by www.richdogmillionaire.com)

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Book Review: “The E-Myth Revisted”… And Why Most Internet Businesses Will Fail

April 8th, 2009

“The E-Myth” books by Michael E. Gerber are not generally internet-biz oriented but the series has been among the best-selling business books in years. Do you know what the “E-Myth” is? Basically, it’s the fatal assumption that many, if not most, entrepreneurs have, in starting up and running their business. The assumption is that: knowing the job equals knowing the business. In other words, consider a character that Gerber introduces to us, in “E-Myth Revisited”: Sarah, who is an expert at baking pies. She assumes that, because she knows the techincal side of the business — baking pies — she knows the most important part of the pie business. But she doesn’t, not even close. Just because you know how to set up a website, or you are pretty good with Adwords, doesn’t mean you know how to run an internet business. Another point Gerber says: “If your business depends on you, you don’t own a business, you have a job.” This is also what Tim Ferris was saying in his great book, reviewed here, about the importance of automation.

The way Gerber explains automation is through the model of franchising. Eighty-percent of all new businesses fail within the first five years, 75% of all business-formatted franchises SUCCEED. Franchises concentrate on building a business SYSTEM that can operate automatically — and autonomously — without you having to be there, and it can be expanded — and duplicated — which is what empires are made of. Consider Sarah’s pies — and consider the McDonald’s Big Mac. Is McDonald’s Big Mac the best, tastiest hamburger ever? Most would say no — but McDonald’s is a $40 billion a year business, with nearly 30,000 restaurants in 120 countries.

So look at it this way, whether you are a blogger or internet retailer or any other internet entrepreneur: If you want to grow and build a successful business, what can you learn from McDonald’s and others? Nobody else is talking about this today in “cyber world.” For these reasons, we recommend: The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It

 

(reviewed by www.richdogmillionaire.com)

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We’re Just Asking: What is the Best Way to Grab 10,000 Visitors/Day

April 7th, 2009

Let’s say your goal is to get 10,000 unique visitors to your website every day. Is it best to have one website, and concentrate all your efforts on that one website to get those 10,000 visitors? Or is it better to have two websites, with the goal of 5,000 visitors each; is that less work overall than 10,000 for one site?… OR how about having five websites? Surely grabbing 2,000 visitors per site is almost automatic — that would give you your 10,000 total. OORR what if you had five websites that each did just 3,000 — suddenly you’ve got 15,000 instead of 10,000… Welcome to our new segment, WE’RE JUST ASKING. Sometimes it’s important to simply ask the question… You may assume one way is the most profitable…but is it?

(original content by www.richdogmillionaire.com)

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“Changyou is Making a Fortune Selling Items in a Virtual World”

April 5th, 2009

As The Economist magazine reported this week, the first company this year to list on NASDAQ is a Chinese company selling “items that do not exist.” Changyou is an online-gaming business, with revenues of $202M and profits of $108M. The company “provides free access to its games, collecting revenue from the 10% or so of players who are prepared to pay for in-game extras, such as weapons, medicine, and shields.” Popular Chinese games feature elves, dwarves, and ancient Chinese characters. You can get the full Economist story here.

This is not a new business model in China. Here’s an article about how a social site is doing it: “How One Social Net In China is Making a Lot of Money“. In this story, only 10% of the site’s revenue is from advertising. Meanwhile, it sells $750M/year in virtual goods.

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ForexMentor: “Techniques and Secrets Used by Commercial Institutions and Banks”

April 2nd, 2009

A while back we blogged about the sales of some Forex trading software. We received an email from a guy with a very good point: “If someone is really interested in FOREX — the successful buying and selling of foreign currencies  (and there’s great reasons to, including low cost start-up and 24/5 trading) — they may want something more than just software– they may want an actual how-to program from a big-time Forex trading professional — somebody the banks use and learn from.” Turns out there is such a program, released to the public, Peter Bain’s Video ForEx Trading Course:

“The Peter Bain Video Forex Course is a complete trading solution and is packed with 6 hours of live instructions on DVDs from Peter himself. In addition, there are an additional 6 hours of instruction on CDs, a 150 page “Trade Currencies the Way the Big Dogs Do” User’s Manual and 1 year access to the Forexmentor Membership website. Learn to trade the lucrative 1.5 trillion Forex Market everyday with Peter Bain’s Video Forex Course. A Forex currency trader doesn’t have to worry about 7,800 stocks, or 72 commodities, and all the underlying trading rules that accompany those markets. With the Forex, a currency trader only has to think about the 4 major currency pairs – and pure technical analysis. The average daily range of 104 pips for all four pairs far surpasses that of any other stock trading market. Peter will show you the techniques and secrets used by the commercial institutions and banks.”

So there you have it: Learn from the best in the business — a business many people do not even know exists, so you kinda have a head start too. Peter has a free video here.

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Thinking Outside the Box: You Can Babysit… Or You Can Do This…

April 1st, 2009

We are a big fan of  thinking outside the box. For example — you can make money by babysitting…OR……….In his book, “Internet Riches” (reviewed here), Scott Fox writes about a college-age babysitter who launched a million-dollar business, www.sittercity.com — a matchmaking site that hooks up parents and babysitters. Today, Sittercity has over 150,000 registered babysitters and caregivers. Have you heard of www.angieslist.com? Started in 1995 by Angie Hicks and Bill Oesterle. Local contractors and businesses are reviewed and scored by consumers; and consumers pay an annual fee for access to the reviews. One of our friends is a member: “It paid for itself when I found a great plumber in my first search.” Now Angie’ s List has 400 employees and an estimated $14 million in revenue. (BTW, they also sell advertising to contractors with a rating of “B or higher.” ) So: What do you do, what do you know, and how can you leverage that onto the internet?

Quick thought: This post is really a followup to our gripe:  Making Money on the Internet: The Big Naked Elephant in the Room.

(original content by www.richdogmillionaire.com)

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Making Money On the Internet: The Big Naked Elephant in the Room

March 29th, 2009

It’s time for us to say something that everyone pretty-much thinks about: That the best or easiest way to make money on the internet is to sell a product on how to make money on the internet. It’s like looking into a reflection of a mirror in a mirror — it’s mirrors all the way down. We got an email from a “guru” the other day, selling his product. His sales pitch was essentially that specific “business model”: He said, basically, I was taught by the best gurus in the business — guys who taught me how to make money on the internet — so now I am giving you the same opportunity — for $X, I’m going to teach you how to make money on the internet. And it continues into the next generation: he describes how one of his students, a young college dropout, who is now — you guessed it — selling a product on how to make money on the internet. Now, don’t get us wrong, some of this material is very good; we’ve reviewed some of it and have included them in our “Buzz Bin.” But the question has to be asked, is that all there is? It’s like the U.S. economy — everybody was buying and selling and betting and leveraging stock — but nobody was making any goods.

We are certainly not innocent here: Our site is, after all, how to make money on the internet, but our tagline: “The good, the bad, and the ugly” is a statement that we are going to talk about, expose if you will, the bad and the ugly. But as we complain, we see opportunity. Where are the opportunities that people are missing? There are entrepreneurs who are making, month after month $10,000 or more a month on their Yahoo stores, eBay stores, and as affilliates for non-how-to-make-money-on-the-internet products… We think that’s where most of the future potential is. The guru products can teach you a lot — about Adwords, Adsense, Clickbank, Commission Junction — but you still need a product to sell; something to specialize or focus on. The guy who sells discount Italian clothing on eBay because his family has the hook-up in Milan is what we are talking about. The guy might have purchased and learned some valuable material from the  how-to crowd but he doesn’t turn around and create his own how-to product — he sets off to build his business, which is much more sustainable.

So we felt this must be said. While everyone goes for the quick buck, the long-term opportunities lie elsewhere. Learn from the gurus and then build from that with your own passions and talents. In our Welcome message, we compared the internet to the wild, wild west. To extend that metaphor further, you can’t make money as a gunslinger or gold prospector today (for the most part).

(original content by www.richdogmillionaire.com)

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Welcome — Join Us

March 26th, 2009

 Hi, we’re glad you found us.

There sure is a lot of crap out there.  It’s really like the wild, wild west  – there are good guys, bad guys… and some ugly stuff. We’ve been looking for a forum — a haven – to catch our breath and get some halfway decent, uncensored, unedited information. So welcome to our little dive bar. Pull up a chair, grab a drink, and feel free to get in on the conversation.

We have some very good bloggers lined up. Guys who’ve been there, done that, and are willing to talk about it (anonymously if necessary). We have no rigid structure here. We are not sure which direction we will be going in. As you know, the internet moves very fast: yesterday is like last year. You’re gonna want to check back often.

 

 

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How to Jumpstart Your Internet Income, Immediately

March 24th, 2009

Hey everyone: I’ve been asked to post about my experience with Clickbank and Commission Blueprint, although I don’t have a writer logon yet.  They just wanted me to write this asap:

I have two internet stores and a blog, slowly building my income — but that did me no good under the circumstances a while back.  My wife – and my bank account –said: “That’s all well-and-good baby, but we need money now.” The question was — and I know it’s a question many of you have  –is: HOW DO I MAKE THE MOST MONEY I CAN NOW, QUICKLY, AT THIS MOMENT?” Here is the answer I found:

Statistically, the highest single-transaction-way to make money is to be an affiliate on Clickbank (or CJ, but I’ll write about that later). On Clickbank you can get $20.00 commission on a single order. Some products offer $30.00 or more PER TRANSACTION. So, bottomline, the fastest way to maximize income online is to be an expert with Clickbank. AND the winners are the ones who have the edge — the knowledge of how to implement the most-profitable campaigns.

I found the best source for this edge: Commission Blueprint, it’s hands down the best.  I disagree with them about web page know-how — maybe later — there’s no time for that now. After you have learned the mastery of Commission Blueprint, you can go to places like  ipowerweb to create the sites/pages that you need (easy stuff). Also if you need a tutorial on Adwords here’s the  best book (a great Dummies book).  But for now check out Commission Blueprint and get started! It’s the fastest way to fill your bank account. (They talk about how they made $109,151 in 30 days days off just one Clickbank product.)

Daniel Coldren

Contributor, Rich Dog Millionaire.com

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Automation: Pro-Selling on Amazon Made Easy

March 23rd, 2009

We’re big fans of automation — it’s all about maximizing your profits and minimizing your labor and expenses. There are a lot of small — and not so small — businesses selling on Amazon. (Ever see the option to buy used copies of a book you’re looking at on Amazon? — there’s a substantial business there.) It’s time for our inaugural “Automation” post : SellerEngine specializes in third-party software for entrepreneurs who sell product on Amazon. Here is info on “SellerEngine Plus” (quoted from their site):

**If you are an Amazon ProMerchant selling books and media, SellerEngine Plus offers the tools and the speed you need to price competitively and keep all your listings up to date.

**Enter your listings quickly and accurately by downloading your listings directly from Amazon, scanning them in using templates, or importing from files. SellerEngine Plus automaticaly retrieves the available information for the items from Amazon as you enter them, saving you hours!

**Our customizable, information-packed interface makes it easy to see at-a-glance not only all the details for your listings, but also what the competition is up to. When you need to make the same change to many items, you can edit them all at once in SellerEngine Plus!

**The proof is in the pricing! Use our Reprice Rules Wizard to create pricing strategies for the different segments of your inventory. Run price checks in real time, and use our price check status flags and the retrieved competitive information to be confident you have priced your items for maximum profitability!

**SellerEngine Plus puts you in control of your listings. Create your listings locally, and then upload directly to the Amazon Marketplace through SellerEngine Plus, when you are ready! Our orders retrieval system keeps your listings synchronized, so that you won’t accidentally create double listings.

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