Who is making money on the internet?Written by David Bell
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But whatever approach you decide to take, learn from others' mistakes. Don't re-invent wheel. If you try to, you are taking a big risk. Model your business after another that has already proven to be successful and yours likely will be too. Some keys of any successful product or service: 1.Go after a very specific "niche" market (I did this with most of my online businesses). Try to offer a specialty product or service that is generally unavailable through traditional retail channels. It is critical that target market be specifically identified and located online. 2.Go after general public - something everybody wants and try for high volume, not profit margin or specialty product angle. Example: An online CD store with a selection like no other and better pricing to boot. In my opinion, running two or three (or more) websites and targeting a niche for each one is easiest way to make money on net. Everyone is looking for "big buck" makers and often niche markets are ignored. This is how I have made most of my money online. I offered something in demand for a small market, and expected only to make $20-50,000 a year from it. But I soon learned that if I set everything up to be completely automated, I could run three or four (or even more) businesses this size in only a few hours a day. By combining several small incomes like that, it is easy to earn in excess of $200,000 a year, all for investing about an hour a day (per business) now that everything is mostly fully automated. If you really want to "retire" after you set up your businesses, hire a manager to work a few hours a day to take care of daily chores that need to be completed. This is how I started. I ran everything myself at first, then got so busy I had to hire someone part-time, then in less than 1 year, had to hire 3 more people full-time just to handle daily operations of 2.4 million dollars in business I do between my four online businesses. So when you grow a little, hire an employee to run your daily operations. I know many homemakers with kids who would be thrilled at opportunity to bring home fifteen grand a year... and often have lots of free time between 10am and 3pm when their kids are in school. Your help could be doing all routine chores and you could be traveling around world or just sitting on your patio knowing you're making $500 to $1,000 a day doing absolutely nothing. This is not a "pipe-dream"... with today's technology you really can do it (heck, I do! -- although I have to admit, I love to work, so I work a lot). I hope this helps in your future marketing decisions.
David Bell is Manager, Online Marketing, at http://www.wspromotion.com/ , a leading Search Engine Optimization services firm and Advertising Agency.
| | FREE PHONE CALLS FROM LANDLINEWritten by Luke Goodin
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My name is Luke Goodin. I am a chef by day and online marketer by night. I believe that the essence of business is the effort invested and the effectiveness of its marketing program
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