This is a guest post by Paul McCarthy who teaches people about making money online at his website FromZeroToWebsite.com.
I’ve been meaning to write this post for a while now because I see so many internet marketers with potential gold mine web sites at their disposal but they just aren’t using their assets effectively!
In this article, I’m going to tell you the strategy for making money online – and believe me it’s not rocket science, but it does take a bit of hard work and dedication to pull it off.
Making Money Online is a Skill That Can Be Learned
The thing about making money online is this – hundreds of thousands of people do it every single day…The process is tried and tested. There is no need to reinvent the wheel.
Back in the early days (in the mid to late 90’s) when internet marketing was far less mainstream it was a much more trial and error process to make money online. People like Tom Hua and Brett McFall (creators of the World Internet Summit) were spending day and night trying to figure out how to make money online. They had no previous reference point, nobody to turn to who had done it and “got the T-shirt”. These guys were the pioneers.
But today, the online money making system is far from new…All we need to do is take the time to learn the system and then implement it – that’s it! If people spent less time looking for “opportunities” and more time going back to basics and learning the way that all the top online marketers generate their income then they would have far more success.
So, What is the Online Money Making System?
Now, before I get into this section, there are most certainly many ways to skin a cat. The way I’m about to teach you is one that will provide most security, is widely used by all the top marketers and involves building your own online assets…
So here’s the system:-
- Find a hungry market of people. Please note, we are not looking for a product at this stage, just a hungry market of people who have a problem they want solving.
- Create a web site. This can be a blog, a one page web site (otherwise known as a squeeze page) a wiki – it doesn’t really matter what the site is.
- Build an email list. Using the site that you’ve just built, try to get targeted prospects onto your email list.
- Build up a relationship with your list by sending your subscribers lots of valuable information.
- Find products that genuinely help subscribers overcome their problems and promote the products for a commission (or you can create your own and take the full whack)
- Optimize the system so that it converts highly and then focus your time and energy on driving traffic to the web site.
And that’s really all there is to it in a nutshell.
What Does This Mean to You?
This means that if you’re a complete beginner, don’t know how to build a web site and are completely new to this business then you’ll need to either learn the skills or outsource the tasks at sites like http://www.elance.com. If you already have a web site that’s getting traffic, then it may just be a case of analysing your profit funnel…
And what do I mean by that?
Well, the 7 figure incomes are generated by internet marketers who understand that the real money is in creating a full fledged profit funnel of products that range from low end to high end. Now in some niches you have to be creative to set up a fully fledged profit funnel, but in many of the competitive wealth and self improvement niches it is often very easy to find products ranging from $37 ebooks right up to $2997 coaching programs.
Let me assure you that when you start promoting (or offering your own) high ticket items in your profit funnel, that’s when you’ll notice a huge change to your bottom line income.
The Main Reason People Fail
It all comes down to the mindset and failure to stick to any given strategy. The strategy that I’ve just given you in this article is a tried and tested, proven strategy. But many people will still not see it through to completion. They will stick at if for a few weeks, start to get disappoint when sales don’t flood in immediately and give up.
Don’t be that person…
If there’s one thing you should take from reading this article, it’s this: your mindset is your most valuable wealth creation weapon. Put yourself in an abundant frame of mind, provide value, help people solve problems and the wealth will flow to you.
Focus on the wealth from the beginning and you’re pretty much dead before you’ve even begun.
Hey Paul,
Really Great Post man. I think building mailing list is the most important rule to MMO.
Thanks for sharing this great Post Paul. Awesome work.
~Dev
You’re completely right Dev. List building should really be the number 1 priority online. Without a list, you will not survive years from now. Having thousands of responsive subscribers is also a great way to have a long-term business, just make sure to provide quality content to your subscribers.
Kind regards,
Gary
Excellent Article Paul.
It pretty much sums up all of the ‘making money online’ and ‘Internet Marketing’ terms
What Paul has summarized in this post, may have taken someone (a newcomer) months to get. I completely agree with Paul that making money online is a skill, and like any other single skill, it can be learned.
Kindest,
Nabeel
I like the steps you have put forward here. I think developing a relationship with your email list is very important and admittedly I have over looked this on occasion. The main issue is as you said people just cannot stick with it. The long haul is really what weeds people out. The good news for us is there is no traffic on the extra mile. Take care
“Find a hungry market of people. Please note, we are not looking for a product at this stage, just a hungry market of people who have a problem they want solving.”
@Paul,
Could you provide a few examples of this? ~ Colleen 🙂
Yes having a website or blog is very most important of making money online. If you have a website you can sell products on your website and then can promote your products using different promotional method.
More detail, it’s better to have website that self hosted and use own domain. It’s just looks more professional. If you want to buy medicine and found 2 website which sell it, but 1 of it is free blog hosted, i’m sure you’ll choose the another one.
More detail, your mindset should be treat your online business as a business, not just like hobby or gambling. If you treat it as real business, you’ll focus and serious and then your online business will grown rapidly.
Nice article 🙂
Agreed. Your mindset is your most important tool. If you do not have the will you will never succeed. Think of the thousands of new blogs/websites that being created every day. You need to put in as much effort as you possibly can to make yours work and you can’t give up until you succeed.
In my case, within 3 months of buying my domain, my first website was already making $1,000 a month and got a page rank of 3 upon the first update. That is freaking impressive…But I basically did not sleep for 3 months.
It is important to work really hard at the start in order to keep your motivation high and so you can start to see results. If you are only working 1-3 hours a day then forget about it. Even for the first month you should set a goal for how much money you will earn (make it reasonable based on the niche and competition in the niche).
So many blogs/websites and so few, relatively speaking, are actually successful. So make sure you have what it takes before you even begin or you will fail.
Completely agree with the article. The main reason why people fail is because they quit. People have the impression that is easy to achieve success online. The tasks that you have to do are easy, but since you have to do them repeatedly for some time, (in other words, you have to work a lot) it’s not really as easy as people have the impression in the beginning. That’s whey people get discouraged and quit.
My advice is that you should try with something easy first, and stick with it until you succeed. Then go for something harder.
Great post you said it all some people think there is a quick get rich quick scheme out there that is gonna magically drop thousands of dollars into their pockets automatically. If there was we all would be doing it.
Fact: making money online takes a lot of work. But you can make huge amounts of money if you stick to the game plan you laid out. Most people are like the rabbit from the Tortoise, and the hare saying. They want everything fast right now. When it takes a slow steady pace like the Tortoise to cross the finish line first.
Apply this to Internet marketing and you will succeed if you have motivation, a willingness to learn, and are very ambitious, you will not fail in the end. Just stick to your game plan.
Exactly right Mr.Paul
Mindset is a very important part for achieving success easily. Most of the money makers lacks this which which leads to the total destruction of his online career.
Planned strategies are probably the core to all Make Money Online tactics. If you can do it well, success will be on your way.