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I need to start just getting some money in so I can pay my expensive rent each month without constantly worrying about if I am going to make enough for rent the next month or have to move. And hopefully start getting enough to re-invest back into marketing and building.
Well I have been reading excellent advice on here about what the most profitable niches and ways of marketing are and what things are not worth it because they don't have the same full potential as the others.
Although the most profitable niches sound like they cost the most to get started with and perhaps take more time. People here talking about investing thousands of dollars into them to get them going. I'm not afraid of risks. I just don't have money to invest like that. At least not yet.
So, I don't care about which ways are not long-term the highest potential and don't have the potential to ever make more then a measly 1-2 hundred dollars a day. Because if there is something like that that doesn't have long-term potential or high earning potential but has the benefits of being fast and cheap in making at a min. $100 a day I am interested. So I can know that my rent will be covered and have some extra for investing in the more profitible ventures.
I'm very new to all of this. But if anyone knows what kind of thing could produce that type of profit right away please share.
I guess if something is producing a return on investment then it doesn't really matter what the investment costs because you are getting it back. The problem is that I can't afford the delay in that. If I spend $2 a click at Google promoting something and it makes me a profit back I am still paying Google hundreds of dollars straight from my bank account way before I receive a check from the Affiliate program to cover those costs. Which is sometimes an entire month after the billing cycle that they even begin mailing them out. So something that paid quickly (like to Paypal) would be perferable.
I have been doing some of my own artistic service/product sites as well but they have not been doing all that well. Very sporadic sales. I need something consistant. I tried ebay too which I am completely sick of. I'll get buyers for my art the first time I put anything new up but as soon as I relist anything that has already sold- zero buyers. It's almost like it is only the same people looking at the art stuff and not a steady stream of new buyers.
Anyways. If there is not any answers to this or ideas I understand. It's kind of a stupid question. But maybe others here are interested in this topic too? The new people that don't have a lot of cash. I wish I had gotten into this stuff when I had plenty of cash and plenty of time, instead of wasting both of those things for years...
Whilst it's great that people post their own experiences and methods, it's also important to remember that these ideas, whilst presented as the only way, are in fact just another example of what approach has worked for some.
I've made good money building brands, but I've also made very good money sending PPC traffic straight to merchants, where there is zero brand building. Both approaches have been easy ways to $100-$200 per day, and both work.
And despite the long term benefit of a strong brand, like anything else if the merchants find a cheaper way to obtain their sales and/or the product goes out of fashion, you'll still fail.
In any business, but especially this one, it's the ability to adapt to changing markets whilst ensuring enough diversity of income streams that will win long term. A strong brand will help, but it's not everything .
It seems strange that you have had such huge success at other niches and with ebay yet you're not interested in pursuing those avenues until you have sufficient revenue to more comfortably focus on this new venture. I think that would be more wise than credit cards or hawking a car.
I really liked Jon's post and I think that's incredibly generous of him. Here's a thought for an e-book. "How to make $100-200 per day online!" or something to that extent. How much would you pay right now if I stickied you and gave a really convincing schpeel? Perhaps a lot, perhaps none, I dunno but it obviously seems to have some people interested. At best you'd probably have a wealth of information at your fingertips from all the research you'd do.
IMO, time is VERY well spent finding niches that are untapped. Finding a niche that most SEO's would never think of. I just found a nice side project that makes about $100 per day with adsense after $500 invested (copywriting) and about 150 hours of my time. It took about a month to get to this point and yahoo/MSN referrals far exceed google's cause it's still sandboxed so that is very promising. Once it emerges it should be $200.00 day pretty easily and I don't need to ever do anything except make sure it stays on top of the SERPs (pretty easy in this industry). Just found a nice niche and saw 0 competition.
[edited by: affgirl at 8:10 pm (utc) on July 12, 2004]
Finding niches happens just by being online and cruising around. I don't think there is some specific science to it. It also happens by having the right mindset to be able to identify a profitable niche when it is staring you in the face.
The web holds no money making guarantees... but it is the way of the future. Its like the TV of the past, but everyone can have there own channel. We have our HBO's already, but there are so many other special interest areas, yet to be cracked.
My thoughts are.. Just use your brain, and get crackin. Teach yourself to program, design, and do you research. Talk to people, find the best services, price compare etc. Surround yourself with others doing the same, and learn from them (just like here..)
good luck.. net savvy entrepreneurs..
How do you find a niche that doesn't have any competition?
I don't think you do without experience. How do you get experience? You just start doing SOMETHING (even if it's not the most profitable venture from day one, you'll learn about the area you're working in and which direction to go from the experience).
p.s. Great post sachac.
How much would you pay right now if I stickied you and gave a really convincing schpeel?
I'd pay nothing unless it's been a proven money maker, that would be too risky as far as I'm concerned.
Personally, me neither. I've never bought an e-book. Ever. I'm sure there are plenty out there that have very proven methods as well as many that are based on nothing.
The fact remains that infomercials peddling garbage money making schemes rake in millions if not billions of dollars every year.
I will admit that I have probably bought around 10-12 ebooks online before. If you get recommendations from people you trust on what ones to buy, then it really helps. I think most of the ones I have bought have helped me.
Just don't get caught in the trap of buying every new ebook that comes out. Focus on one "system" and follow through with it.
Great point Hugh - it's so easy to get stuck with the "paralysis of procrastination" and avoid risks, always finding a reason why such and such an idea won't work, but it's the people that stick their necks out and take risks that win in the end.
If you saw the amount of stickies I get saying "I've bought all the e-books and they've really helped but I still can't seem to make any money, where am I going wrong?" you'd be amazed. If these e-books have helped them so much then why are these people still here looking for answers?
E-books are excellent for the people selling them and can be a great aid to learning, but like all this stuff there's no one right way.
Like Stephen Covey says, sometimes it's your compass that's wrong, rather than your map. There are certain principles which are universal in business, but even with these respected there are still thousands of paths to success, none of which is right or wrong, simply different.
It took me years of research (some of it done here!) to feel I had enough information to write a meaty book. It took months to write and edit -- and that's from someone with a background in professional writing & journalism.
It has produced a nice revenue stream -- but I would describe it as a steady trickle rather than a torrent.
However, the value of taking the time to write a decent, genuinely valuable e-book cannot be underestimated, *if it relates to another service you're providing*.
I have got many clients -- and much PR -- as a result of writing my eBook. It has been a good move for me, looking at the long-term, big picture, and something I can stand proudly over. But certainly not a quick fix.
Of course there must be good ones around, but it's action that creates results, not theoretical knowledge.
I am also writing a book and it hadn't occurred to me that it may bring me some profit and business contacts - in fact I'm only writing it as it's something I'd always promised myself I'd do when I had the time.
At the end of the day... an idea can flop because the time and effort are not put in. Learn about your concepts and truly BRAINSTORM your ideas. Think about what you can offer people, not just how to make money.
It should be a service that someone 'can't remember how they lived without it'.
It's supply and demand. There will be no demand if you don't supply anything worthwhile.
I concentrate ONLY on making that graph go up.
As long as it's going up don't change anything that your doing, if it's stagnant and looks like a horizontal line, then you need to get very busy and look at anyway you can to promote and push it up because if you don't sooner or later it's going to go down.
and so if you think $200 a day is a roaring success, then it's much easier to get a 9-5 job that pays you $74,000/year without all the work involved in getting a web site off the ground. ON the other hand if you are able to pull $74,000 from a site in auto-pilot, besides your 9-5 job then it's a very nice situation.
I run some 40 web site. The way it is for me anyway is some sites do better than others. Typically, if you are selling stuff to webmasters, affiliates and people who are internet savvy, watch out. It better be good and hard-to-bypass, re-invent, improve or be bluntly copied.
Getting good search engine positioning is a nightmare at best. I have been using an RSS feed program that seems to help attain better rankings and my own and other people's pay-per-click.
There is also a lot of junk online so you have to sort through the hype and focus on items that people Really want, need or can't do without. You could have 100 sites online but if each is not focused on "high demand" products, it could turn meager profits for you.
Selling stuff to marketers is a great thing if you got something that really makes their life easier and more profitable instead of regorgitated, re-twisted information. For me, $200 a day is good but my goal is in the Millions of dollars not something I can attain by being an executive in some big shot fortune 500 company. The idea is to have NO BOSS period! That alone motivates me every day when I get up in the morning and start my online marketing day.
I know of affiliates making $17,000 a month...want proof? Here it is:
What a loser. What type of pro posts their income/reports online? There are those who have days like that but are not big enough chumps to post it online.
Lemme guess, he is making his cash through clickscam/clickbank programs selling e-books to desperate fools?
You know what... I thought this thread was for mature webmasters but boy was I wrong. Looks like a den of envious sore losers. I have no time to waste with posters whose best is dumb one liners, sock sorters and the like. I am too busy making money to waste time with you so go back to your dream $100 a day deals if you can even manage that. Adios.
Anyone can doctor a screenshot. Unless you give the password to this account, we can only take your word for it. Either your bragging on somebody elses makings, which to me is just plain stupid, especially if you're not getting any of it.
What is wrong with someone making only $100/day? If that's all they need, so what?
This place is still what it was when you made your post, so we can expect to see you back here. Simply just to read the replies. :-)