Table of Contents:
1. Welcome
2. Risky Business
3. State of Bankruptcy
4. Private Sector Money
5. Taking Charge
6. Income Streams
7. Basic Human Drivers
8. Your Magic Combination
9. Giving People What They Want
10. Dating Matters
11. The Five Rules
12. Seven Profitable Solutions
13. Revenue Models That Work
14. The Seventh Method
15. Window of Opportunity
16. Jump to Action
17. The Action Plan
18. Fifteen Resources
19. Effort is Required
20. Feed Your Brain
21. Review and Summary
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Seven Profitable Solutions
There are essentially only seven types of (legal) things you can offer to people that will earn you revenue. Here are those seven:
Revenue Method #1: Sell physical products
Startup difficulty: High
Startup cost: High
Profit potential: High
Selling physical products requires a lot of logistics: Inventory, fulfillment, returns, shipping, customer service, credit card fraud, etc. You'll also need a critical mass of products focused on a particular theme (like raw foods) to create a sufficiently-large shopping site. Startup costs can be quite high (inventory), and you'll have employees to worry about (including payroll, hiring, firing, etc.).
Of course, if you can make all this work (and don't mind working 60 hours a week), you can make a lot of money selling physical products.
Revenue Method #2: Sell information (ebooks, software, audio, downloadables, etc.)
Startup difficulty: Medium
Startup cost: Low
Profit potential: Low to High
This is typically a far better method for selling things online. The startup costs are low, and product fulfillment is entirely electronic. The trick here is to create compelling content (an ebook, a video, etc.) and then be able to professionally market it using compelling marketing copy, search engine placement, press releases and other effective marketing techniques.
Profit potential can actually be quite high for blockbuster ebooks, but 95% of ebooks don't earn much money for their authors due to poor promotional know-how. If you pursue this technique to make money, remember that book authors are commonplace. But good book promoters are a rarity. I suggest figuring out how to promote your book (or video, or audio, etc.) before creating it. Don't make the mistake of so many authors who write the book first, and then wonder how they're going to promote it...
Revenue Method #3: Trade your time for money (sell services)
Startup difficulty: Very Low
Startup cost: Very Low
Profit potential: Low, but steady
This is often the easiest way to create a revenue stream: Use your expertise to serve the role of a contractor, tutor, teacher, consultant or other service provider. You'll get paid by the hour, and you avoid all the startup complexities associated with selling physical or virtual products. People who have jobs and earn paychecks are following this model.
The significant downside is that the minute you stop spending hours, your revenue stops! There's also the problem that you can't multiply your earnings in any way other than working overtime.
However, if you have a large client base and you really know your stuff, you can increase your value over time to the point where you're charging more and more dollars per hour. Lawyers, for example, follow this model by charging $300 or more per hour. That's a fairly healthy income by most people's standards, but then again, you have to go to law school, pass the BAR exam, pay for an office, wear a suit, etc.
By the way, if you're interested in becoming a health coach, where you can consult with people over the phone, there's a great school in New York you should know about: The Institute of Integrative Nutrition (www.IntegrativeNutrition.com). I know the founder, Joshua. He's a fantastic guy, and the school curriculum is simply outstanding.
Revenue Method #4: Link people up (affiliate linking or referral services)
Startup difficulty: Medium
Startup cost: Low
Profit potential: Medium to High
Linking people to the products or services they need through affiliate links is a smart way to earn extra income without all the hassle of running your own product sales and delivery services. Affiliate programs are widely available through CJ.com (Commission Junction) and LinkShare.com. You can promote numerous products and services and earn a percentage of the purchases made by the people you refer.
The strategy here is to reach a sufficient number of people so that your affiliate product recommendations actually make money. That normally requires you to build a large base of readers or website visitors, and that means spending time on making your website an interesting, useful place to visit. So you're ultimately in the content business, because that's what brings people to your site to see your affiliate recommendations in the first place.
Affiliate programs typically have one drawback: They only pay you once for the sales you create. There's no long-term revenue stream in place.
However, one new affiliate company, ShopToEarth, is making waves with an affiliate shopping model that can generate a long-term revenue stream for you. It's a hybrid approach combining a shopping portal to top health-conscious and eco-conscious companies (see list below) with a binary network marketing compensation model.
NaturalNews has just joined ShopToEarth and will be reviewing and advocating the organization in upcoming articles. Soon, I'll be posting a full review of the company, its advantages and disadvantages.
If you want to enroll under the NaturalNews team and benefit from the distribution tree we create, go to www.ShopToEarth.net/NaturalNews then click on "My Account" (top right), and then click on "Join Now" (top right). From there, you can enroll as a broker, which will get you your own website URL, and you can start earning revenues immediately when other people purchase health products or enroll from your website.
If you have questions, contact the NaturalNews team organizer, Suzy Karasik, at 209-710-8299 or email [email protected]
Unlike most network marketing models that require people to buy something new, ShopToEarth simply shows people a way to earn streams of revenue while purchasing the very same natural health products they buy already. It's an online shopping portal that pays you for showing people a smart way to shop. And the products are outstanding: Dr. Bronners, Nutiva, Delicious Greens, Braggs, Dynamic Health, Desert Essence, Aquasana and many more (these are some of my top-recommended companies!). The website design, though, is awful.
Compared to regular affiliate programs, this ShopToEarth business model is the best I've ever seen. It allows you to benefit from both the instant affiliate commissions when people buy products through your portal website, AND build a long-term revenue stream that can potentially pay you significant sums each month as the people in your binary tree do their regular shopping for items available through the portal.
Watch NaturalNews.com for more announcements about this company in the near future.
If you're looking for a more traditional, one-time-revenue affiliate model, go to www.CJ.com or www.LinkShare.com and sign up to start recommending those products on your website or blog.
NEXT: Three more revenue models you need to know about...
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