For this second part of the series I just want to run through the basics of how I make money online.
But before I get started I just want to make a few things clear…
Firstly, this is not a business you can rush, its not some instant get rich system and you are unlikely to make money straight off the bat. You need to take your time with this and learn the basics, then build your business up over time.
When I fist started I spent months trying to make a go of my online business with little success. So I found a mentor who had made millions doing what I now do, he showed me over the space of a year how he pulls in thousands of dollars every single week.
When I launched my first product using the methods that he had shown me, I was happy to see the sales start rolling in after just a few days.
What I want to do with this series is be that mentor to you and guide you through every stage so that you are armed with the knowledge needed to make a success of this…
BUT! As I said before it will take time as well as dedication, commitment and a willingness to put in the work.
If you are the kind of person who is looking for a get rich scheme or you really want to make money but don’t want to learn the ropes or do any kind of work to get there, then you may as well stop reading this now.
To give you an idea of what you are getting into you can read Five Things You Need To Know Before Starting An Online Business!
So how do I make my money online?
Well, as I mentioned in the previous post, I find a product that has been developed and produced to a high standard by people who are experts in their own particular field, I then purchase the rights to market these products and sell them on to a targeted market of people who I know are looking to buy them.
Pretty straight forward isn’t it?
The products themselves are all Information Products, either in the form of Video training courses, eBooks, online training or audio courses.
These products could be about any subject under the sun but they all have one thing in common…
They are entirely digital, that is to say they are all products that can be downloaded from the internet or accessed online by the purchaser.
The beauty about selling digital products is that once you have made your initial (one off) purchase for the distribution rights, you can then sell 100, 1000, 10,000 copies without any further cost to you.
For this reason alone…
no physical product can compete with the profit margins digital products offer you.
But! I want to make one thing VERY CLEAR right at the start…
These have to be HIGH QUALITY, PROFESSIONALLY PRODUCED products with useful content that is valuable to the buyer.
Remember you are building a business on the back of your own name and if you sell inferior products word gets around quick in the digital world and a tarnished reputation is very difficult to recover from.
You see your buyers will be paying anything from $100 to $4500 for what you are selling so the value of what they are buying has to not just meet but to excel all their expectations.
Information is a valuable commodity and people are willing to pay for that information, especially if it comes from a respected expert in their particular field and especially if the value of the content is potentially greater than their initial outlay.
This is why information products have such incredible profit margins.
The other great thing about dealing in digital products is that you can do everything from your own home, you don’t need to keep any stock around, you don’t have to worry about delivery to the customer.
In fact once the product is set up everything is done automatically with very little input from you.
Your only real job will be to ensure that the right people who are interested in buying your product are seeing what you have to offer them. All the sales and delivery of the product is done by the website you will set up.
Don’t worry right now about how this is done, I will go into more detail in later posts.
Sounds Good, Right?
So, How do you begin?
Well, as strange as it may seem the first thing we need to do is find our target customer base!
WHAT? I here you cry…
have you gone mad Darren?
Find customers before we even have a product to sell them?
Really?
Well…..
Yes, Really.
You see it is far easier to find out what people WANT and then find a product to sell them, than to buy a product they may need and hope to find customers for that product.
After all if you know what people WANT to buy, then you know if you find the right product it will almost always be guaranteed to sell.
On the contrary if you find a product (no matter how great YOU think the need for it is) if there is no market out there (or the market is very small) then sales will be low at the very least.
How and where do we find this crowd of people who are desperate to buy?
Firstly you need to ensure that your target market is large enough to make it worthwhile. I would suggest a market in excess of 250,000 people who would be potentially interested in buying what you have to sell. Now this 250,000 people needs to be a TARGETED MARKET, not just any random group of people. By targeted I mean you know exactly what kind of products these people are interested in buying.
They should also be a group of people who have a real desire to buy your product. It should be something they WANT not just something they may NEED.
The good news is, there is a great resource out there for anyone to access that will help you find the hungry crowd needed to sell any product you can think of…
It’s called Google Keyword Planner the beauty of this free resource is that you can search any potential market for FREE to see if it meets your needs for a hungry crowd.
Now the first thing you will need to do is create a google account and sign in. Simply click on the create account link, enter your name email address and a password and you can then log in.
So for example lets type “dog training” into the search bar at the top and hit the Get Results button…
At the moment of writing that is showing me between 100,000 and 1,000,000 searches a month for dog training in the UK and USA combined…
That’s a huge market to tap into. We are also told that the competition related to this phrase is medium.
So in a couple of minutes you have found out that there are hundreds of thousands of people A MONTH searching for information on dog training. This shows me there is a huge hungry crowd in this niche and its certainly worth taking the time to find a product to sell to them.
In other words there are up to one million people a month actively interested in learning about dog training.
So there you have it, in a matter of minutes you have found your hungry crowd!
Not difficult at all was it?
I suggest you have a play around with the keyword planner and see what other hungry crowds you can uncover.
I hope this has been helpful to you and I look.
Speak soon
Darren
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