Thursday 29 September 2011

How to Make Money Online (For Beginners)

 “I am trying to figure out where to start with internet marketing. I just read your post about lifestyle and I know the kind I want for my family, I just don’t know where to start…”
-Lynn Woolums Smith

Hi Lynn! I actually hear this question a lot, so you’re not alone. In fact there are 161 searches every day for “how to make money online for beginners” and more than 700/day for “how to make money online”…

There are a number of ways to make money online. Options range from creating your own product to sell online, making money as a professional blogger, managing an online community, developing a content site on a hot topic – just to name a few.

All of these are just various ways to deliver content online. Your first step will be choosing a niche, which is the market or topic you are going to focus on.

Speaking of focus, with so many options to make money online – focus is key. You want to choose a niche and a business model, and work on that one project all the way from start to profit. Don’t let all the other options distract or derail you.

Once you decide on a topic or niche, you should sit down and map out a plan for your internet business model. What market are you targeting, and how can you best serve that market? This is the angle you want to work from, vs the more common: how can I make the most money from this market? (Most people get it backwards and then get frustrated when that doesn’t work out for them)

So you choose a niche, create a blog or website, set up social media profiles to interact with your target market on the topic, and you create and share useful content that will build your reputation and readership in that niche.

I can hear what you’re saying…
“That all sounds great, but how do I make money from it?”

How to Make Money Online (For Beginners)

The absolute easiest way to make money online is with Affiliate Marketing. You don’t have to create a product, set up a shopping cart and merchant account, do customer service, work with clients, etc. It’s very much like a traditional commission-based sales job where you earn commission on any sales you refer.

The difference is that you’re doing it online, and you can do it from home without ever doing in-person or phone sales. You simply recommend products and/or refer people to specific merchants through the content on your website.

The method I prefer is creating SEO Content, or content that is optimized to rank well in the major search engines. People find it when they are searching for that, click through, and buy what they need or want. This works really well because you write the content once, and it continues to rank well and earn you money for years to come. As long as you maintain your search engine rankings.
“How can I make 3-4k a month or more? What steps will it take to get there?”

I know this is stating the obvious, but it should be said: It takes time, work, and being both persistent and consistent. An online business is the same as any other business in that it requires an investment on your part to get it up and running. The positive side of online business is that it takes a lot less time and money than most traditional offline business models.

Do these 10 steps, in this order, to get started:
Choose Your Niche
Register a Domain Name
Set up a Website or WordPress Blog
Set up a Facebook Page and Twitter account
Download and read SEO Fast Start (free)
Create Optimized Content for your Site/Blog
Sign up for Affiliate Programs in your niche
Write Product Reviews for those products
Get links pointing to your pages or posts
Continue creating content, getting links & interacting via Social Media
Once you get all this set up and you’re making money as an Affiliate, you can look at other ways to monetize your site. You might create short reports on your topic to sell, test contextual advertising, or look into even more methods to make money.
Yes it’s work. And yes – it’s worth it!
If you do these steps, and continue to learn & tweak as you go, you’ll start earning money. You can increase your traffic (number of visitors) and your income as you continue to grow and market your website. It takes time to get to a consistent $3-5K per month in revenue, but you could easily do that within the first year.

Best,

p.s. Lynn was referring to my Lifestyle & Income of a Super Affiliate post. Give that a read if you haven’t already as it will give you a sneak peek into my life and success doing the exact things I outlined here. If you have any questions, feel free to leave me a comment below.

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