So a lot of people out there, maybe even you, don't believe that THEY personally can make cashflow (or recurring Income, or passive income) online. They try and try and try, but nothing happens.
And let me tell you, that's.......partially true.
The average Joe is not going to make any money online for the simple fact that they either don't try hard enough and persevere long enough. Or simply doesn't understand what and how they are supposed to do things.
Over 90% of online entrepreneurs won't make a single dime online.
So, today, I am going to teach you, how you can change that.
So, just to let you know, I have broken this episode down into two separate episodes. The reason for that is it would be INSANELY long. So, instead of just one super long episode, I am doing two shorter ones.
So, Is it really possible to make money online?
Are the people that say they are making money online just trying to scam people.
So to answer the first question on is it possible to make money online. The answer is of course it is. People for years have been doing it day in and day out.
And if they are making money online, so can you.
Now to answer the question of "Are the people that say they are making money online just trying to scam people."
The answer to that question is yes, and no.
A TON of people out there are telling people how to make money online when they themselves have never made a dime online.
Or even worse, They have made a couple hundred dollars online and now think they know it all and want to teach you how you can make millions online from "their" formula.
They are trying to deceive you. And that shit pisses me off.
So let me go through a few ways that you can make legitimate money online without spending endless amounts of money in advertising or having to deal with too much of that techie stuff.
Cause I know most of us out there hate that.
So #1 is most definitely going to be affiliate marketing.
This is by far the easiest way to make recurring income online. Like I've said in previous videos this is one of the things I do to make money online and you can make a TON of money by doing it.
For those that don't know or understand what affiliate marketing is...affiliate marketing is just marketing a product or service that someone else has created.l So other peoples products or services.
By marketing someone elses product, you now don't have to go through the whole process of designing and creating your own product, instead you can just market that already existing product to people that need it.
Now, if I market that product to someone and they purchase whatever it is, I then would receive a commission from that sale at no additional cost to them.
The person or company who's product I just helped sell, would give me a piece of that sale.
So if I receive let's say 30% from a sale of "Product XYZ" and the cost of Product XYZ is $100, then I would make $30 and the company would make $70 for that sale.
And the customer gets what they wanted. It's a Win/Win/Win situation.
And commissions for products can range from just a few percent of the sale to literally 100% of the sale.
One of the things I look for when looking at products to market with affiliate marketing is:
- Is the commission to me going to be greater than $100 per sale?
I don't want to spend my time marketing a product that I am only going to get a few bucks on here. It's just not worth it for me to do that.
- Is it recurring?
For me, if it's not recurring commission, which means that the product has to be a SAAS or a membership of some sort and the customer has to pay monthly for whatever it is, I am most likely not going to want to market it. Sometimes I will break this rule, IF that product is insanely good or something like me recommending a book or product on Amazon.
But normally it is something recurring.
So that is Affiliate Marketing.
The next thing you could do is build a membership site.
A membership site is a great thing to have. When I used to teach currency trading I had my own membership site, where people would pay me $397 per month, each and every single month just for being a part of the group.
And I really didn't have to do much either. So it was quite easy...and lucrative.
Now I am no super membership expert like Stu Mclaren of Tribe is, but I can tell you this, I was making boku money with mine.
With a membership, someone is paying you each and every single month in order to:
- Have exclusive access to your content.
And there doesn't even need to be a metric ton of content right away anyways. This content could be dripped out over time, like 1 or 2 pieces of content per week. In fact, too much content just ends up overwhelming the customer anyways. So less is actually better.
- Have direct access to you.
This could be simply emailing you whenever they have questions, a weekly or bi-weekly Q&A call, or a phone call from you once in a while. Whatever you decide will be fine.
For instance, when I had my membership site, we did a Live Trading Room each and every single day (Monday - Friday) where they could see me analyze and take trades in the market live. I was doing this anyways, and just decided, well let me turn the screen sharing stuff on and let them watch. And during this time they had a chance to ask me anything they wanted.I also held a bi-monthly Q&A call as well.
- Be part of a community.
People LOVE to be part of something. And if you can give them that feeling of being in a type of exclusive club while simultaneously giving them direct access to you and content, they will stay with you for YEARS!
You don't have to start off with a ton of content with a membership website, and they are actually quite easy to set up.
Now there really are two types of membership websites.
The first one is the up-front model where you are asking people to join your membership even right up front when they barely know you. These types of membership sites are usually quite cheap and in the price range of say $5 per month to $20 per month.
Think Spotify or Netflix.
The second type is what I call the backend model.
This type of membership site is usually sold to them once they know you a bit more and they are being marketed about it to their emails.
These types of memberships are usually much more money. In the range of $50 on up. Like I said, mine was $397 PER MONTH. And I have seen memberships as high as $10k per month....no joke.
I love these types of sites because they are as close to passive income as you can get.
So, maybe you want to build a membership site.
The next type is selling your own courses online. These can be courses on literally anything. Whether you have an interest in jiu-jitsu and want to start a course on how to learn jiu-jitsu from home.
Or you are an expert in how to make fires in the woods using water. Or maybe you want to teach people about medicinal mushrooms. Whatever the case is, if you know just a bit more than the average person, you can create a course on it.
This is a great way to make money online and is how I made most of my online business money. Yes...even more than my membership.
Once you have created your course, you can create an entire funnel using something like Clickfunnels (link in the description below) and sell that course over and over online, quite literally forever.
This is such a great and easy way to make money online.
BUT....all of these ways that we have spoken about takes work to market and advertise. You can't create a course or membership site, do affiliate marketing, or whatever and not work to market whatever it is you are doing.
My rule is, market and advertise whatever it is you are selling 80% of the time, and only 20% of the time in creation.
I have literally sold courses I have not even made yet.
YES! You heard that correctly. I have made money selling courses, that I hadn't even planned out fully yet, let alone created.
And you can do that too.
Now...let me say this..
I am NOT a fan of the annual "Product Launch" type of courses. This is where something like once per year, you "allow" entry into your course. You can make a lot of money doing this, don't get me wrong.
But it is limited to a certain period of time. Which means, the rest of the year, you are not making anymore money.
THAT is a fucking JOB.
That is not what I am looking for.
I want something that can be sold, while I am sleeping.
So anyways ...
That's all I have for you today,
Until next time ya'll, remember, you are just one cashflow stream away...from financial freedom.
Take care guys