ALT-1 How to Generate Wealth by Making Money Online
The concept of how to generate wealth by making money online is a little bit flawed. The word “wealth” brings to mind all of those bad commercials. –you know the ones- The commercials where someone who had no ideas at all about the internet or marketing bought - Product X – and made a fortune in no time flat. The commercials that promise fame, fortune and wealth if you simply buy their program.
Such a thing does not exist. At least not in the sense of one product and an easy fortune. You can make money online. You can make a significant amount if you do it long and hard enough. But there is work involved. There is a learning curve. Finally there is also an element of luck. Do not be discouraged, because it is possible and anyone CAN do it, just understand it is not as EASY as some try to make it sound.
Now that all the disclaimers have been stated and there is an understanding that it takes some work effort and time, let’s see how to generate wealth by making money online.
♦ Residual income ♦
This is the goal for everything you do online. A good percentage of all efforts should be aimed at creating a residual income. This is the money that comes to you day in and day out without lifting a finger. Do not think it takes no effort because it does. You do effort and work up front to get the residual income on the back end. Do it right and you can get quite a good ROI for a little bit of work invested.
♦ Residual income: Pay Writing Sites ♦
Sites like the one you are reading this article on fall into this category. Work is done up front with little remuneration. IF no one ever reads or sees the piece you get nothing. If it becomes popular you get paid back based on article views. If you have a lot of articles receiving a few hundred views a day, you can be paid back quite nicely for your efforts.
♦ Residual income: Niche sites ♦
A niche site is similar except you are the owner. You write a few articles designed to lead people to a page where you give them an offer. This offer is often an affiliate program or item that you will get paid a nice percentage on.
♦ Residual Income: Email list ♦
This may be ultimately the most powerful, but also the longest range plan. This works in conjunction with any of the other methods. The secret is that in addition to getting a sale –or even instead of a sale- you get people interested in your niche to sign up for a mailing list. Once you get them on the list, you send them a lot of good –and free- information. Mixed into this is some offers for products you really believe in. Since you have a history of only giving quality, people are much more likely to buy from you than from anyone else. For long term purposes an email list may be good for multiple sales from people who are “buyers” in your niche.
♦ Your own site ♦
Owning your own site gives you a mix of static and residual income. This is different from a niche website. A niche site is, “set it and forget it” you need to tweak a niche site sometimes, and add links to it every so often, but once you are done it is low maintenance.
Your own website or blog needs to stay current. You need frequent updates to keep people interested and coming back. IT is work and takes a lot of effort. Monetization can also take some time on this. Ultimately you can do everything from the site though, you can create email lists. You can generate direct traffic revenues with programs like adsense. You can sell affiliate offers or even make up your own affiliate products and have others sell them for you. This way has the greatest efforts but potentially the greatest rewards.
♦ No get rich quick ♦
Getting rich quickly is possible using these methods. Just unlikely. The people who do “get rich” work at it long and hard before they do. It is often not the best and brightest who make it this way, but the most stubborn. Opportunity is out there, you simply have to be willing to work to get it.
