How to make money on Internet
Definitely a hot topic at dinner parties: ‘How to make money on Internet’. I find it easier telling people that I make money any other way then through the Internet.
Why? Simple, people are spending on the Internet and not realizing that there is an ability to make money on the Internet. It’s easy for someone to visualize a brick and mortar business, but it’s an entirely different matter to visualize a virtual business.
Well, if you can understand that it is very possible to make money on the Internet, then you are ready to learn how to.
Much like a traditional brick and mortar business, you need some fundamental building blocks in place.
Block One – Profitable Venture
First and foremost, you need to be investing your time and efforts into a profitable area. As the old saying goes, don’t try to sell something nobody wants to buy.
You need to find a group of people who will be interested enough in your product, that they will gladly exchange money for your product.
For some reason though, this seems to be the hardest thing for most people to grasp, in all business. I’ve seen many people ‘invest’ $100,000 into a traditional business that just doesn’t have a snowballs chance in hell to succeed.
Fortunately for us, we can try multiple ideas at lest then $50 per venture to find a profitable niche. This is one way that the Internet is different.
Another advantage to the Internet is we can create a highly specialized product for a highly specialized market. For example, I have a website that specializes in selling rabbit cages. Now, I don’t think that I could turn a profit, even in a very big city, just trying to sell rabbit cages.
But a greater part of the world is my customer base. And now, I can easily turn a profit.
Block Two – Storefront
Once you’ve found a possibly profitable venture, you still need to have some place to sell it. Again, there is a lot of similarities to traditional and web businesses.
One striking difference though, can be the cost. There is little you can do to spend less then $1,000 on building a traditional storefront. Even if your storefront is a hot dog stand, you would be very luck to keep it under that cost.
But for a web business, and a little bit of knowledge, on your part, you can create a storefront for less than $100. I personally have created many sites for less then $50. Now, that idea can completely bomb and I’m only out $50 and a bit of time.
Block Three – Advertising
Again another business building block that cannot be avoided is advertising. And again, like traditional businesses, web businesses can have two types of advertising.
- Paid advertising. Here’s where the lines blur between businesses. You can use advertising on the Internet to benefit off line businesses and traditional off line advertising to benefit online businesses. But if you want to get known quickly, paid advertising is the way to go.
- Word of mouth. For offline businesses, word of mouth is just that. Passed from one satisfied customer to another. For online businesses, it’s just a tad different. When someone likes what you publish and/or sell on the Internet, other’s will ‘link’ to your site. This is the online version of offline word of mouth.
Block Four – Product
Your product is the how to make money on Internet.
Now your product can be multiple things. From actual goods and services to advertising, to electronic products. You have many ways to profit from this model. And the neat thing is, if one doesn’t pan out, try another avenue!
I’m not going to say much more, right here on this, as I’m going to expand on it much further in future posts, but needless to say, I have checks coming to me from multiple sources and I do not stock, store, ship or pre-pay for anything that I sell online!
To wrap up, if you are just starting out on your journey to learn how to make money on Internet, you can do this. There is a lot to learn, but none of it will require specialized abilities or skills.