Author Archives: Alan James
Author Archives: Alan James
Paul O´Mahoney is a best selling author and a specialist in Social Media Advertising, who has become very successful through his use of webinars and social media endorsement producing viral traffic growth. Paul even became a Guiness World Record holder recently for the longest ever continual public speech.
As the author of a book called ¨ReThink Social Media – Stop Wasting Time. Start Earning Money¨, Paul states that the book is organised in the following manner to give a good grounding in Social Media to even the most uninformed reader. Paul Offers his own version of Social Media by re-thinking his approach to marketing strategies.
Paul acknowledges many of the people he has met on the way along his journey and writing his book Rethink Social Media. Those named include Gary McGeown, Donna Kennedy, Pat Slattery in Dublin in 2009, when his journey started. Apart from numerous unnamed friends (as Paul calls practically all his acquaintances) there is a big list of media and business celebrities who are acknowledged including:
Mark Anastasia, Milli Ponce, Richard and Veronica Tan, John DeMartini, John Assaraf, Tony Robbins, Andrew Reynolds, Tai Lopez, Richard Branson, Russell Brunson, and many more. If you want to see the whole list it would be better you buy the book (or borrow it) and read it.
Paul also thanks the various teams of people he has worked with along the way, as well as of course his family.
Section 1: Introduction
Paul quotes the following as the header to his introduction: ¨We cannot solve our problems with the same thinking we used when we created them¨, Albert Einstein.
Paul states that an entrepreneur should have honesty and integrity as their most important assets.
He differentiates between the casual Social Media user and the entrepreneur who is trying to find advantage from the dialogue which takes place on Social Media, in order to identify and target potential customers.
Paul suggests that Social Media Advertising is essential for any business person to master and use for their business purposes in todays market place.
Chapter 1: Introduction – What is Social Media
Paul again quotes Einstein ¨If I had an hour to solve a problem I´d spend 55 minutes thinking about the problem and 5 minutes thinking about solutions¨.
Paul´s idea was to write a book about Social Media which would enable business owners and entrepreneurs to re-assess or re-think their approach to using Social Media. He defines Social Media as a means to socialize, which is a natural inclination of people through the ages, but in this age is channelled through certain pipelines such as Facebook, Twitter, Instagram, Pinterest, depending on what priorities and messages people want to communicate. Pinterest is obviously inclined towards people who want to share images and graphics. Twitter on the other hand is favoured by people wanting to give very brief snippets of information. Paul´s view is that Social Media in its current form started to evolve around 2005.
Social Media means different things to different groups of people, so for the business owner it is important to be able to identify potential markets. What is clear is that it is used by almost half the people on the planet, and takes up a massie amount of time.
What the business owner needs to do is find a way to efficiently use what he needs from Social Media, without becoming distracted spending too much time, in order to maximize his profits from that medium.
Section 2: Concept
Chapter 2: Why Do Businesses Fail?
¨Entrepreneurs are the only people who will work 80 hours a week to avoid working 40 hours a week¨, Lori Greiner.
Paul contrasts traditional businesses with modern internet type businesses. He also compares the role of the employee with the business owner. He questions the objectives of a business, what are its aspirations, pointing out that as an ex-employee a new business owner may not be at all suited to what he needs to do.
The conclusion from analysis of 101 business start-ups, 42% failed because there was no market need for the product or service being offered, as expressed by the sentence:
People do not buy what you think they need, they buy what they want!
What the business owner needs to do is simply give people what they want, and also make a profit, in order to stay in business.
The entrepreneur needs to leverage tools such as the internet and social media in order to transform how you run a business, marketing yourself successfully and better than the competition.
Chapter 3: An Unprecedented Opportunity
¨Great opportunities may come once in a lifetime, but small opportunities surround us every day¨. Rick Warren.
Re-think: Products are not at the core of business strategy anymore, but people´s problems are. A business´s success is determined by how well it solves a person´s problems. Social Media eases the accessibility of people in order to identify their problems, and also to avail them of possible solutions to their problems.
Section 3: Strategy
Chapter 4: It´s Very different to What You Might Think
¨The secret of business is to know something that nobody else knows¨ Aristotle Onassis.
there are 7 stages of a traditional business which are:
1. The right niche.
2. Evaluate your ideal customers.
3. Target the right traffic.
4. Help them for free.
5. Immediate upsell offer.
6. Nurture your list.
7. Know your numbers.
The current day re-think is to focus on people´s urgent problems and solve them, then you will be rewarded.
Chapter 5: You Must Learn For The Right To Earn
Ïf you think education is expensive, try ignorance¨. Derek Bok.
Paul contrasts the traditional view to go to school, do well in exams and find a job which will set you up for life.
The Re-think is that you must learn for the right to earn. Financial freedom is possible with education, coaching, incremental improvement and consistent action in order to reach the maximum potential.
Section 4: Tactics
Chapter 6: Right Niche
Ÿou can have everything you want in life, if you will just help other people get what they want¨. Zig Ziglar.
Contrast the traditional thinking that: You need a great idea about what people need to have a great business: If you pursue your passion the money will inevitably flow.
Re-think: People buy what they want, not what they need. The focus of your business is not you, it is the people who are potentially going to buy your product. If they don’t want it, you don’t have a business.
Chapter 7: Evaluate Who Your Ideal People Are
¨Problems can become opportunities when the right people come together¨, Robert Redford.
Traditional thinking is that one size marketing fits all, you need to get the message out there.
Re-think: The message should perfectly match the right people for our niche.
Chapter 8: Target The Right Free Traffic
¨Stop waiting for the right person to come into your life. Be the right person to come to someone´s life.¨Leo Babauta.
Traditional thinking is that your business should post consistently on social media and offer discounts and sales to get people to buy.
Re-think: Social media should be focused on the user, encouraging engagement and serving their desires.
Part 2: How Do Emotions Lead to Action?
Ïf you want to charge people financially, you need to first charge them emotionally!¨ Paul O´Mahoney.
Traditional thinking: Your goal is to do whatever it takes to get your prospects to take the appropriate action.
Re-think: In order to have your prospects take action, there are a number of emotional factors at play; when you get them right, it will make an enormous difference to your marketing results. Focus on moving people from interaction to conversion then monetization. You need to charge them in order to change them.
Part 3: The Social Youdia Journey.
¨The journey of a thousand miles begins with a single step¨, Lao Tzu.
Traditional thinking is to focus on the bottom line, not the relationship.
Re-think: Social Media is not for selling products or services in most instances. It is about creating awareness and building trust over time, ultimately resulting in the person agreeing to move your relationship out of the exclusivity of the Social Media and into another means of personal communication such as email.
Part 4: Your Traffic Options
¨Be patient, everything is coming together¨, Anon.
Traditional thinking: You need to write all your own blogs, and post fresh content every day. You need to be an expert in something in order to blog. From your blogs you will get traffic after ranking in Google.
Re-think: No one cares what you have to say because they would rather listen to and read about people whose brand they trust.
Paul goes on to describe the various media which are available for a business person to deploy and engage with prospects on.
Chapter 9: Help For Free
Öur prime purpose in this life is to help others. And if you can’t help them, at least don’t hurt them.¨Dalai Lama.
Summary: The premise is that you try to set up a new relationship with a stranger by offering them some help for free, in return for their contact details.
Re-think: Your main goal with Social Media is to build a database. Giveaways do not necessary have a lot of value, depending on how they are marketed. Perceived value may be increased by limiting supply or imposing a close down date.
Chapter 10: Immediate Upsell
Ültimately, the business that can spend the most to acquire a customer wins¨, Dan Kennedy.
Summary: Clarify the value ladder, the next stage is to work out how this material can be delivered efficiently and automatically to our leads.
Traditional thinking: Target people who write books with Google Ads or traditional media and send them directly to our website, which offers a 3-day program for $2997.
Re-think: Lets find out who may be interested by collecting their contact details and then immediately work out if they are a buyer. Then lets build up trust with smaller tiers of lower priced products that continue to increase as we gain an additional ten of commitment each time. Then build up the value proposition as high as possible.
Part 3: Back End Sales
Summary: Once your front end funnel is in place, then the fun begins from a money perspective.
The back end funnel refers to the highest price offering from $500 up to $000´s.
Traditional thinking: Once i have sold my core offering to a customer/client I need to focus on getting more people in the door as leads to keep my business profitable.
Re-think: Unless you have a back end sales funnel in place, you are leaving the vast majority of your profit potential on the table. Set up a value ladder which enables you to add many high value items. Sales funnel software enables the whole process to be simplified.
Part 4: Where Do I Find Products or Services to Sell?
Summary: The immediate upsell is an essential part of a highly profitable online business.
Traditional Thinking: It makes sense to create your own products or provide your own services.
Re-think: There is no need to create your own product or service in order to be successful in business.
Chapter 11: Nurture Your List
Ïf you are not taking care of your customer, your competitor will.¨Bob Hooey.
Summary: After going to the effort of finding a targeted lead and setting up sales funnels, nourishing a relationship with this lead, moving them from a lead to a prospect, to a customer, then repeat customer a client and even an addict is essential for maximizing profitability and client happiness.
Traditional thinking: Lets get our prospect to the finish line as quickly as possible whatever it takes and once they get there its time to find another.
Re-think: Winning in business is a long term play that involves putting people, and specifically relationships with people, first. How well your business deals with your leads passions desires and wants determines how successful your business will be.
Chapter 12: Know Your Numbers
Ïf you can’t read the scoreboard, you don’t know the score. If you don’t know the score, you can’t tell the winners from the losers.¨Warren Buffet.
Summary: Knowing what to measure and making a point of sitting down once a week to review it yourself or with a team will allow you to introduce a feedback loop into the Re-think model resulting in a self-correcting and course adjusting model that the external environment may require.
Traditional thinking: The numbers speak for themselves.
Re-think: Measuring the right numbers and regular reviews will allow you to continue to reduce expenses and increase profitability of your business. Regular reviews are the key to success.
Section 5: Systems and Flowcharts
Chapter 13: Pulling It All Together
Step 1: The Right niche
Step 2: Evaluate Who Your People Are
Step 3: Target the Right Traffic
Step 4: Help For Free
Step 5: Immediate Upsell
Step 6: Nurture Your List
Step 7: Know Your Numbers
¨Doing The Right Thing is More Important Than Doing The Thing Right¨. Peter Drucker.
Chapter 14: Metrics
¨What gets measured gets Improved¨. Peter Drucker.
Summary: Knowing your numbers gives you an awareness of whether you are in a business that has a chance of success!
Traditional Thinking: If you keep your head down and work hard, inevitably it will come good in the end!
Re-think: If you don’t lift your head up and take an overall objective view of your business using metrics designed to focus on key aspects of your business you are most likely doomed to fail.
Section 6: Conclusion
Chapter 15: Key Watch Outs:
¨The biggest risk is not taking any risk… In a world which is changing really quickly, the only strategy that is guaranteed to fail is not taking risks¨. Mark Zuckerberg.
Summary: With any business it would be foolish to focus exclusively on your day to day tasks without keeping an eye on the external environment.
Traditional Thinking: In the event of some failures, or warning signals in the online marketing space, it may be time to completely reconsider what you are doing there and possibly abandon it, especially as email marketing is dead.
Re-think: It is important to keep an eye on what potential issues are around the corner for your business. You need to focus on upcoming challenges, threats, weaknesses and opportunities. Get advice from people in the know rather than listening to hearsay and rumours.
Chapter 16: Final Wrap
Ïf someone offers you an amazing opportunity and you´re not sure you can do it, say yes- then learn how to do it later¨. Richard Branson.
Summary: The 7 step process as listed above and how it can be adapted in the world of Social Media.
Paul offers training courses in the Social Media methods which he uses and the cost is 2000GBP for a 4 day course which includes his personal support and mentoring.
We have not tried out Paul O´Mahony´s training courses as yet. He presents good results and is obviously a thoughtful proponent of Social Media for business, even though he confesses to personally not being a fan of sharing personal information on Social Media.
Paul has obviously put a lot of effort into researching and writing his book Re-thinking Social Media Advertising.
If you have experience of Paul O´Mahoney´s courses or methods and wish to share your review, we would be happy to receive it.
To get another view of approaches to Social Media, as well as setting up a business online, check out our review of the Amazing Wealthy Affiliate here.
Internet Business School Videos is a company owned and operated by Simon Coulson who is a very successful internet entrepreneur, who also operates the Internet Business School, based in Kent, England, where you can learn internet marketing strategies in order to achieve success for your business.
The Internet Business School offers a wide range of educational courses including Internet MoneyMaking Strategies course organised by Simon Coulson, teaching the methods which have brought him success with his own businesses.
Simon Coulson is a very successful internet entrepreneur who was originally a BT Engineer who was made redundant from his job after 14 years.
Simon invested some of his redundancy pay-off in himself and did an internet course in the USA from which he was able to learn internet marketing strategies and Search Engine Optimization, also building wesbites and Search Engine Optimisation.
He had the idea to write property guides about investment in Bulgaria, where a friend of his had invested in property, and invited him to do the same. Although Simon bought a property in Bulgaria, he has never ever set foot in it. Despite this, he wrote an ebook called Guide To Buying Property In Bulgaria, which was extremely successful. He then followed up with other similar guides to buying property in Croatia, Slovakia, Slovenia and other Balkan countries.
Simon discovered as his business grew that he could outsource some necessary tasks for his businesses, paying experts to prepare the content for his e books.
After running out of ideas for property guides, he realised that the same principles which had given him success in that niche market could equally be used in any other niche market.
Simon then started to develop Membership Sites from which he could earn recurring income rather than one off sales revenue. In order to start out, because he had limited reviews of his own (5) he offered memberships for free provided that subscribers contributed their own review. After receiving more than a hundred subscribers reviews within a week, and more than 500 reviews within a month, he was able to charge a monthly recurring fee for membership of the site, which has more than 11,000 members, and generates revenue of more than 500k pa.
Another business which Simon Coulson set up was selling Air Conditioning units, simply by negotiating a commission with the manufacturer and supplier of the units, and marketing on their behalf.
Simon Coulson has re-invested a lot of the money he has made in improving his own capabilities and systems, and says he has spent 150k on that. He recommends students to invest in themselves, to improve their education and capabilities as well. He however, is disparaging about an MBA course which he invested in which he thinks was 90% wasted because the teaching was by academics, who are not experienced in real business, only in theory.
Simon recounts a conversation he had with Richard Branson about how to find ideas for businesses. Richard Branson stated that he often gets ideas for his businesses (more than 300) from bad experiences as a consumer. For example Virgin Airlines was founded out of his dissatisfaction with established carriers. Similarly Virgin Record Stores was founded to try to offer a better service to consumers.
Simon has become personally extremely wealthy as a result of his various Online businesses, and moved to his dream home on the set of the popular television series ¨The Darling Buds Of May¨, and even offers weekend stays at his property for those who might be interested to do that.
Here is a video of Simon Coulson sharing tips at the National Achievers Conference:
Simon teaches a 3 step system to learn internet marketing strategies whereby the components are:
Not only do you need those components, but you need to be offering a product or a service which is in demand by people. This is your Niche or audience of potential buyers for your product or service.
Simon recounts many of his students who have become successful using his methods and teaching in a variety of different niches, for example:
Rick, who has made a successful business writing e books of How To Become different types of career, such as Police, Army, Navy, Air Force, Fireman, Nurse.
Another called Ben, wrote an ebook on How to Become a DJ.
Another student called Mark made around 200k from driving traffic to Resale Rights Products sites.
Another student called Karen has made a success of Affiliate Marketing.
Yet another student Thierry has made more than 50k from sales of snail caviar, showing that Simon´s methods and teaching work for sale of physical products as well as e books and software.
Simon Coulson advises prospective students to appoint their own Mentor. Before doing so, students should question their prospective Mentor´s abilities and expereince using the following questions:
1. Are they making money?
2. Are they teaching current methods?
3. Can they make things happen?
4. Have they proved that they can do things, make things happen?
5. Can they teach?
6. Are they really offering a real system or offering just a Magic Button?
There are a range of courses and educational material available, and suggest you check the website for costs of these. From our assessment these are around the norm in the marketplace.
We have seen presentations from Simon Coulson on two occasions live, during 2017 and 2018, and he presents himself modestly, although he has made a major success with internet marketing of educational products such as ebooks, ecourses and membership sites.
We have not tried out Simon Coulson´s courses yet, but from an arms length appraisal his teaching does work, and he has many testimonials from his students who verify this to be the case.
Certainly Simon has made a great success and earned revenue of more than 20m US$ from using his own methods and system.
If you want to try out any of Simon Coulson´s courses from the Internet Business school go here.
If you sign up for any of Simon Coulson´s products from this link then we will receive a commission.
We have not yet tried and evaluated Simon Coulson´s ecourses, but have heard him speak and he certainly demonstrates good results.
We would invite you to write your own review and advise us of your own assessment of Simon Coulson and the Internet Business School.
If you would like to look at another community and teaching which will help you achieve the same outcome as Simon Coulson, check out our review of the Amazing Wealthy Affiliate here.
Darren and Steven Essa are the owners of the Money On Demand X10 Effect System, which involves producing and publishing online webinars in order to generate revenue, which the two brothers claim to be far more profitable than any other means of making money on the net.
Steven Essa is a highly successful Webinar Training Expert and International Speaker who presents himself as the premier proponent and practitioner of presentation of webinars on the internet.
Hailing from Australia, and has had great success with his system called Money On Demand, the X10 Effect. Hailing a No 1 Amazon best-selling author as well from his book Money On Demand.
Darren Essa is Steven´s brother who owns 50% of the Money On Demand X10 Effect business, as well as several other businesses which they jointly own.
Darren is a proponent of partnerships in business as a means of achieving multiple streams of passive income online, and describes their methodology of leveraging the knowledge from their webinar system which they have optimised, and applying it to multiple other businesses, some of which they have commoditised and include in their package training.
Money On Demand is the Webinar training system offered by Steven and Darren Essa, and the software needed to implement the training.
The Money On Demand training comprises the following:
Additional facilities and functionality available at extra cost are as follows:
Here is an explanatory video about How Steven Essa Created a Webinar Formula which led to marketing of the Money On Demand System (X10 Effect).
Steven and Darren Essa claims that subscribers to his business system can dramatically improve their performance in 3 ways:
1) Conduct Professional Webinars
Subscribers, once they have carried out the necessary training will be able to make their own webinars and place them on the internet using Youtube or using zoom or skype or GoToWebinar conferences.
2) Automate the Webinar Sales Process
Steven´s Webinator software allows a subscriber to easily and quickly and efficiently prepare their own webinars for presentation on the internet.
3) Leverage Webinars For Maximum Profit
Using Steven´s guidance and mentoring from his extensive experience of preparing and presenting webinars, you can see the most profitable ways to mobilize your new skills.
The cost of Money On Demand, the X10 Effect is 1500GBP, or a deposit of 497 GBP, followed by 2 x monthly payments of 597GBP. The cost of the offer depends on the venue and offer on the day, some of the above functionality and services may be monetized. Steven Essa offered a particularly good deal including many bonuses for free at the Digital Nomads conference organized by Andrew Reynolds on 29 June to 1 July 2018.
We believe that the principle of Videos On Demand is exactly what is needed for internet success owing to the runaway success of video on Social Media channels such as YouTube.
Steven Essa has mastered the art of webinar preparation down to a fine art, and has also developed his own software in order to make webinars, called Webinator software. His system seems to be one of the best available on the internet.
We have not yet tried out Steven Essa´s training but once we have done so we will complete our review of the Money On Demand System.
The alternative of course, if you dont have money to invest in the X10 Effect System is to think through and formulate your own formula for success, using your own expertise, and who knows, it may be a winner!
If, however you do not have the two thousand pounds to invest in buying the Money On Demand system, and you do not have the expertise currently, why not check out this FREE training from Wealthy Affiliate. You can get access to see how to make your own webinars for minimal cost, go here to see our review of the Amazing Wealthy Affiliate. If you do not like the training you can unsubscribe at any time. You do not need a credit card in order to try Wealthy Affiliate for FREE.
Outsourcing of some of the repetitive, time consuming and highly skilled tasks required for a successful online business can be a massive aid to the website owner and entrepreneur with limited time and tight deadlines to meet, provided that you specify everything which you need correctly and concisely, and are tight regarding allocated budgets, so as to avoid wasting time and money.
An entrepreneur or website owner can decide to outsource almost anything from his task list, but you need to decide what exactly you want to get done by someone else and why that is.
There are a miriad of repetitive and time consuming tasks which the online entrepreneur needs to get done. Ideally you carry them out yourself in order to save money expended, but your time may have a higher value carrying out more productive tasks, from which you can get a better Return On Investment.
One of the biggest investments a company can make in Outsourcing is to hire a Virtual Assistant.
There are many potential Virtual Assistant companies who offer such services. One such company is 123employee.com, but there are many others in the marketplace also.
We do have some imited experience of working with 123Employee.com but it was not a fruitful relationship and did not progress beyond the start up phase. From our side the relationship was not satisfactory.
One of the problems with hiring a Virtual Assistant is that you must precisely describe everything which you expect that employee to carry out, and in which priorities. This means that you must instruct them to do training on the particular software packages which you use, and allow them time to carry out the training as well, before they can productively use it.
Our particular initiative revolved around getting some feedback from the outsourcing company, which was not forthcoming, so we decided to cancel the arrangement before any more time and money was lost.
No matter what your VA carries out on your behalf, you are obliged to pay for their time. This may work out ok if you have a relationship with your VA and they are responsive to your needs. On the other hand, do you really know what your VA has been doing all day, when you are several thousand miles away in another continent.
Our conclusion is that you would be better served hiring a real assistant rather than a Virtual Assistant, and you can then personally instruct them and personally communicate with them about what results they have achieved. If necessary you can personally modify instructions to the Real Assistant. This applies even if the hourly cost of a Real Assistant is higher in theory than that of a Virtual Assistant. It is not about hourly cost, it is about real cost and efficiency ie real value, not virtual value.
Even if the cost of hiring an Assistant in your home country is higher than it may be in a low cost country such as India or The Phillipines, we urge you to strongly consider paying the higher cost as better communication and control could give you a higher value return on your investment.
Other Services Which Can Be Outsourced are the highly skilled and specialised ones for which you may need special software and a higher level of expertise than many people possess:
There are many many companies on the internet who can offer logo design services, with a wide range of price structures.
One of the sources of Logo design is Fiverr.com
We have used Fiverr.com for logo design services, and chose one of a number of competing logo designers. The logo was delivered within the agreed timescale and was of adequate quality. We paid approximately $12 for the logo, plus a tip, which is an unusual feature of Fiverr.com, which we have not come across on other similar websites.
Freelancer.com is another website where you can commission many different types of service. Note the price of a mobile website is quoted in bottom right hand corner. Projects can be advertized for pricing alternatively specialist resource can be hired by the hour.
Guru.com is another outsourcing site similar to the two above, which says it has 3 million experts at your disposal.
www.Iwriter.com is another outsourcing site, more geared towards content creation, writing articles. posts and pages, rather than design.
Upwork.com is another large scale general outsourcing service site, with many specialists available.
We conclude that you need to categorise the tasks which you want to procure from Virtual Assistant Companies.
The first category of tasks is those which are repetitive and time consuming and which can be outsourced and delegated to a cheaper resource.
Our recommendation would be to think very carefully before entering into a contract for Virtual Assistant services. A local assistant may be a better and more efficient arrangement.
You may be better served by hiring an assistant locally rather than employing someone remotely who you do not have first hand visibility of, and have difficulty managing and controlling.
The second category of tasks which may be delegated are usually those which are highly specialised and involve skilled work, for which there are many expert specialists whose services you can buy at very reasonable rates. You can get such expert services from companies like:
OMS recommends using such companies because you can get real value for money from buying from the right specialist for the job you need done.
If you are short of money to buy in such services, you could consider signing up to Wealthy Affiliate, which offers a massive amount of FREE training, as well as preparing and hosting 2 websites even if you decide not to join as a Premium Member, for more information click here.
Recently we attended an event organised by Andrew Reynolds under the banner Digital Nomads, at Excel in East London, for the many people who are interested in making multiple streams of passive income, and who want the Laptop lifestyle, to be able to work minimally from anywhere in the world, whilst enjoying a luxury lifestyle.
We have followed Andrew Reynolds for about 18 months now and he is an experienced and expert marketer of high quality and high value educational software and training products. His latest successful product offering is Video On Demand.
He also organizes seminar type events at which he arranges presentations by well known and successful entrepreneurs.
Last year there was a similar event which was held over a 3 day weekend in June at Excel in East London.
This year the event was labelled Digital Nomads, because it portrayed that is is possible to have a nomadic lifestyle travelling the world and running your businesses from a laptop wherever you are in the world enjoying your wealthy lifestyle, as a result of Multiple Streams Of Passive Income.
Andrew suggested that delegates approach planning for their passive income streams using a Hub and Spoke type approach where each spoke of the wheel was a separate source of income, and during the course of the event several types of passive income stream business were presented. The suggestion being that you choose one or more of these options as your preferred source of passive income, and supplement it with more of these alternative options, so that you are never totally reliant on one source of income which could at some point in time dry up.
What Andrew Reynolds presented was several speakers who were each experts in their own fields and highly successful businessmen, from a variety of different types of moneymaking business, many of whom described how it was possible to make multiple streams of passive income, and recounting their own systems and experience of success.
Steven and Darren Essa are specialists in producing and presenting webinars which can be put on Youtube or used for skype or Zoom type webinars. Their view is that Video and Audio are more successful and effective means of communication than written words. Steven is also a highly successful public speaker in his own field of expertise. Darren prefers to stay in the background, although he owns 50% of the business.
They have produced proprietory software for webinar automation, called Webinator Software.
He is an author of a best selling book called Money On Demand.
Steven Essa offers training of his webinar presentation methods and software, which includes a set of 8 Money On Demand training modules, a Facebook Ads Blueprint and Social Media 360 Home Study Course, plus Ready Made Webinars, Plus Phone and Email Support to subscribers as well as a Private Facebook Group, and a 2 day Money On demand Workshop. All notionally valued around 40,000GBP for a one of event price of 1500GBP, or split over 3 months 497GBP deposit then 2 x monthly payments of 597GBP.
Click here to read our full review of Steven and Darren Essa´s Video On Demand, X10 Effect.
Darren Winters has spent a lot of his own time and money being mentored by the best share trading experts in the world. He has made many millions from his expertise, and offers training courses to share his knowledge.
He has intimate knowledge of the stock markets and trends during economic cycles, and the relevent stages for share trading, and the best type of stocks to invest in at each stage of the cycle, which are:
Darren also advises on Trading Psychology, and Trading Emotions.
He proposes leveraging the power of Compound Returns consistently.
The cost of Darren´s Wealth Training course is 2000GBP, and for those committing at the event he gave a lot of valuable bonuses.
Click here to read our full review of Darren Winter´s Wealth Trading Program
Sean Allison is a specialist Options Trader and keen golfer.
He offers Professional Options Trading Education Program consisting of 9 modules:
Module 1 – The Fundation of Income Trading Success
Module 2 – Key Concepts to Generate Income
Module 3 – Sean´s Basic Cheat Sheet
Module 4 – The Key Set Up For Charting Success
Module 5 – Understanding Put Options
Module 6 – Understanding Call Options
Module 7 – The Call Spread Strategy
Module 8 – The Put Spread Strategy
Module 9 – Mastering Trading Psychology
In addition to the above educational modules valued at 9000GBP, Sean offers 6 x 1 hour skype sessions valued at 1500GBP and 12 months unlimited email access valued at 2000GBP.
Sean offered the following bonuses as well to attendees at the Digital Nomads Event:
How To Open Your Trading Account valued at 500GBP.
The Crash Strategy valued at 3000GBP.
Options Trading Program 2 Day Workshop Training valued at 6000GBP.
Elite Squeeze Strategy valued at 2000GBP.
Plus Lifetime Access to Sean´s Ultimate Trading Diary valued at 1300GBP.
The total value of the offer package was 25, 250GBP.
The Special One Off Digital Nomads Event cost of Sean allison´s Options Trading Program is 1500 GBP or 1590 GBP split over 2 monthly payments of 795 GBP each month.
Click here to read our full review of Sean Allison´s Cash Flow Options Trading Program.
Simon Coulson has made a great success of internet marketing using ebooks on a themed basis, such as property guides to Bulgaria, and other central European countries and made many millions of pounds from his methods.
Simon now teaches his methods and charges 1500GBP for a training and mentoring course of 3days.
Simon describes his simple 3 step system, as follows:
1) Something to sell – A Product or a Service
2) Website – should be good quality, better than competitors, sales funnels, upsells, offers.
3) Traffic – The Most Important Thing.
Click here to read our full review of Simon Coulson´s Internet Business Videos And Internet Business School.
Pat Mesiti is a Mentor and Lifestyle coach with a powerful and personable character. he offers mentoring and training courses with him personally. Pat is acquainted with many famous and successful personalities including Arnold Schwarzeneger.
Pat´s Pathway to Prosperity is a 3 day event valued at 1500GBP, or 3 x payments of 597GBP per month.
Within the currculum Pat promises to cover:
Also you will receive:
The Wealth Mastery Program, which is an extensive collection of mindset training, with inspirational life training presented by Pat Mesiti and guests. This is a Home study program.
Click here to read our full review of Pat Mesiti – Pathway to Prosperity – 12 Steps to Financial Freedom
Paul O´Mahoney is a specialist in Social Media, who has become very succesful through his use of webinars and social media endorsement producing viral traffic growth.
He is an author of a book called ¨ReThink Social Media – Stop Wasting Time. Start Earning Money¨.
Paul offers training courses in the Social Media methods which he uses and the cost is 2000GBP for a x week course which includes his personal support and mentoring.
Paul has a 4 step strategy:
1) Find a Niche
2) Social Media – find audience, Marketing
3) Free Gift + Opt In Page to build an email list – your database of contacts, customers.
4) Email marketing
In addition for success you will need targetted traffic, a database (email list) AutoResponder, Ongoing Support
Paul offers a total package value of 32,950GBP for an event Special Offer price of 2000GBP, or 3 payments of 795GBP.
Click here to read our full review of Paul O´Mahoney – ReThink Social Media.
Tom Hua is a top flight internet marketer and has had great success with his own Affiliate Marketing business, being a previous winner of ClickBank Resellers Viral Marketing Award.
PRIMO stands for Passive, Residual, Income, Machine Online.
The PRIMO system offers Affiliates the ability to use all of Tom Hua´s existing ebook and ecourse products, either sell them as they are or to adapt them to your own purpose and sell them as your own. Go here to see OMS Review of PRIMO3.
Tom´s system comprises the following basic elements:
1) Product or Service
3) Traffic (visitors = customers)
Products can be:
1.1 Afiliate Programs eg Clickbank, offer instant start, but no control. Preferable to spend money on high ticket items for higher commission.
1.2 Resell Licences
Instant start – better control, possibly expensive, ie ecourses
1.3 Own Products
You have full control with your own products but full responsibility for fulfilment of orders and after sales, returns etc.
Information products are easy to sell and distribute, just need to find customers.
Webhosting vs Cloud Computing, Amazon Web services
2.2 Cross Platform Content delivery
2.3 Accept Payment Online
Paypal or Stripe, Alipay is popular in China, or Wechatpay.com, ClickBank.com
Traffic is the lifeblood of the business. The 3 most effective ways of getting traffic are:
Search Engines vs Social Network, ie Google, FaceBook, Twitter, WhatsApp, WeChat, SnapChat.
Joint Venture is the fastest way to achieve traffic to your website
Viral Traffic is the best if possible to achieve
Tom Hua´s offer for PRIMO3 at the Digital Nomads event is one payment of $3777 or staged payments over up to 2 years 24 payments of $250.
Click Here for our full review of Tom Hua´s PRIMO3 System.
With his partner Shawn Casey, Brian Koz is the co-author of Webfire software, which is a highly sophisticated online marketing sotware system with multi functional capabilities. including:
Click here to see OMS review of Webfire software.
The cost of the software is $1997pa, which was discounted for the Digital Nomads event.
Kevin Green is one of the wealthiest people in the United Kingdom. He specialises in purchasing properties where the owners have defaulted on their mortgages or loans. He offers a deal to take on the liabilities, acquire the property, develop it and sell it on. He does so in cycles of three properties, so that he keeps appreciating assets as well as trades and sells on properties for cash flow for his business.
His business model is to buy properties at 50% Below Market Value, selling at 20% Below Market Value.
He also uses a unique model of financing the purchases of properties, which is a sort of crowd funding approach.
Systemization is the key to Kevin Green´s approach and success.
Kevin Green claims that the returns from such property investment is very large, and has enabled him to buy gold and silver bullion and to trade in jewels from Indonesia and Malaysia.
He claims to sublet and delegate most of the work to his team of specialists who deal with the technical processes involved in acquisition of the properties, settlement of debts, and development activities.
Kevin Green offers training courses which teach the methods which he uses and are always popular, costing 3000GBP per person for a 3 day course.
Andrew Reynolds made an unusual and extremely generous offer upon the announcement of his retirement after working for 21 years building his businesses.
To all attendees of the Digital Nomads workshop, as a one offer retirement offer, Andrew Reynolds offered to set up a company for each attendee of the workshop, Additionally he offered to give to each attendee the Private Label Rights to all of his electronic products, and show each attendee the software which he uses to run and operate his company.
This is an incredible offer, and Andrew Reynolds fulfilled this at the event from 29th June to 1st July 2018.
Additionally Andrew Reynolds offered a free traffic workshop which was held on 15th July which demonstrated successful traffic generation methods as practiced by an expert in that field.
Andrew Reynolds gave every person who attended his Digital Nomads conference the opportunity to start off their own multiple stream of passive income.
We have not yet tried all of the above products, but have provided you with links to those which we have reviewed.
If you have tried or used any of the above products, and wish to share your review, we would be pleased to receive it.
On the whole we think that the products presented by Andrew Reynolds are high quality and in general presented excellent value for money, as many of them were heavily discounted for the Digital Nomads event only.
If you want to check out FREE online marketing training in order to build yourself a business online, then check out our review of the Amazing Wealthy Affiliate here.
Reference: Definition.net. “Affiliate marketing”. Retrieved February 21, 2018¨.
In everyday terms, Affiliate Marketing is the marketing of other people´s products or services, and receiving a commission from the owner for that sale. It is a popular way of earning money online because the Marketer does not have to invest in purchasing stock or dealing with fulfilment of orders to customers, or after sales service and returns. These activities are dealt with by the selling company themselves.
The Marketer does however have to introduce customers, otherwise he will receive nothing for his efforts, so Marketers deal with this in a number of ways and we will expose these Affiliate Marketing Secrets below.
Affiliate Marketing is one of the easiest ways of making money online, or passive income online. It is easy to get started and does not involve a large investment in stock, or premises, or staff. It is therefore arguably the most popular way of easily starting an online business to make multiple streams of passive income.
From the seller´s point of view, the selling Company, it increases their reach, because they can use their affiliates to help extend their audience of potential customers beyond what they would normally be able to achieve. It has no cost to implement because the Marketer takes risk whether their marketing campaign will work or not, until a sale happens, and then the cost is the commission paid to the Marketer.
Affiliate Marketers can try to promote Free traffic which can be obtained organically from any website, but the problem is that it is slow and unpredictable, so sales resulting from Free Traffic will probably be low compared with sales resulting from Paid Traffic methods.
Free Traffic can be enhanced by the use of Social Media likes, comments and shares on Google, Facebook, Twitter, Instagram, Pinterest, Youtube etc
Pay Per Click (PPC) – the Marketer buys PPC traffic from a list provider at a set cost. The risk is that no sales result, so the Marketer could lose money rather than make money. Facebook ads are popular as well as Google and Bing and Yahoo.
Pay Per Transaction (PPT) – the Marketer buys PPT traffic from a list provider at a set cost. There is no risk to the Marketer because he only pays upon conclusion of a transaction. Necessarily the cost of PPT traffic is higher than PPC traffic.
Where can I find Products to promote? Here is a list of possible Sites, who each offer different things, but from these you should be able to find some suitable Products to sell as an Affiliate:
Affiliate Marketers can offer almost any type of service or product on behalf of the selling Company.
Products can be literally anything, commodities from the lowest to the highest price value, as can be seen on any online market place such as Amazon, Ebay, Etsy etc.
The Affiliate Marketer may offer products which he purchases from a separate fulfilment company, which is known as Dropshipping. Typically the fulfilment company could be based in China using such companies as AliBaba, or AliExpress. Alternatively, fulfilment could be from any other country including the USA (eg LaunchCart, fulfilment by PrintTech)
Typically Marketers may use any of the big market places for their websites, such as:
Amazon, eBay, Etsy, Shopify.
Alternatively, Marketers may offer e-products such as e-books or e-courses, and they may source their products from such market places as Commission Junction, ClickBank, JVZoo, MaxBounty etc.
Marketers can also represent membership sites such As Wealthy Affiliate. Affiliates with WA receive a commission for every new member who they introduce. If you want to see out review of Wealthy Affiliate, go here.
There are other sorts of Memberships which require purchases in order to achieve the next level of membership, more akin to Multi Level Marketing (MLM), which we would not recommend that you pursue. An example of such a system would be MyDotComBusiness, which we have reviewed but do not recommend. If you want to see our review of MyDotComBusiness (#MDCB), go here.
There are many ways in which to create multiple streams of income from your businesses. The following are some passive streams of income ideas:
Internet Businesses can do all their business online or they could be hybrids with traditional businesses. Many of the traditional retailers are offering more online services since the purchasing trend of consumers is more towards ordering online for home delivery.
The best example of the success of the pure online retailer (with no physical store) is, of course, Amazon, which is growing and plans to enter into market areas which are more associated with the High Street, such as property sales.
Companies such as John Lewis or any of the major retailers have to offer online as an option to their customers, as well as keeping their high street stores open (at great cost). BHS was a casualty of which there have been many on the High Street
Traditional Businesses can also be quite varied and many traditional businesses have online departments as well, so as to offer their customers choices about how and when they can purchase the products which they want. Examples would be Currys PC World, who have physical premises as well as good online ordering and delivery systems for the products which they sell. They also offer installation of some products as well, so are more like a supply and install contractor in some circumstances.
Traditional businesses which have not adapted to the new way of doing business online have suffered and in some cases gone out of business, for example, House of Fraser.
So in terms of passive income, the only role in which you could expect to receive a good return would be as an investor, but the risks for such traditional businesses are high with increased competition in the marketplace.
So how to reduce the risk?
Franchises are a business model with less risk than a completely new startup because the model has already been created and proven to be successful. A drawback is that to purchase the proven model and reduce your risk will cost you money paid to the franchisee. MacDonald’s franchises are expensive and you will not see a return on your investment for several years, depending on the location of the business and the level of trading. Some franchises can be run from home and do not necessarily need premises, but you need to carefully check out what you are actually buying with the franchise system which you have chosen.
Remember that for any business to work, you need customers, so no matter how much you spend on the franchise, how will you get sales? From where do you get customers? How to convert prospects into sales? How much effort will that take, ie how much of your time will you need to spend on this? Is this really passive income? Is it what I want to do?
Within the Investment Business category we would include:
Each one of the above categories needs a much more detailed explanation so as to see which one or more may suit your particular circumstances and financial capability.
Here are a few passive streams of income ideas which relate to Internet Business
Some of them relate to the selling of digital or educational products, either your own or selling e-products produced by others, under Private Reselling Rights.
An example of a system selling digital products is PRIMO3. If you want to see the OMS review of PRIMO3 then go here.
The main other ways of generating passive income online are listed below:
Affiliate Marketing can produce good passive income streams from different websites selling other people´s products or services. Affiliate marketers usually specialize in a particular niche or niches.
Goods can be sold on Amazon, Etsy, eBay, or Shopify, which are the most popular online stores.
Products can be sourced from such marketplaces as ClickBank, Commission Junction, JV Zoo.
Often Affiliate Marketers use their own website and blogs to write reviews of products with links to those products and similar ones, from which they can earn a commission on each sale.
OMS has done a review of several affiliate marketing systems including Wealthy Affiliate, which is one system which we highly recommend. However, WA is not a get rich quick system, and in order to arrive at a position where you will receive passive income from the websites which you develop, you will have to invest a large amount of time.
If you want to see our review of Wealthy Affiliate, go here.
Small value sales will give relatively small value commissions, but high ticket sales can also produce high-level commissions. Once buyers trust a seller then they can be offered Up-sells which generate higher returns and profitability. You need to decide on your marketing strategy of what products or services to sell, and how to market such products.
Some retailers have their own range of products which they produce or source and then sell to customers online. Sometimes these are traditional retailers who also have high street stores, but also offer online shopping to remain competitive with full online retailers. Examples of online sellers with retail high street presence would be John Lewis, Next, Selfridges or Harrods.
Drop shipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer. As in retail business, the majority of retailers make their profit on the difference between the wholesale and retail price, but some retailers earn an agreed percentage of the sales in commission, paid by the wholesaler to the retailer.
The seller only orders the product once he has received payment from the customer. The seller places the order with the drop shipping fulfilment company at a lower price, in order to make his margin.
The seller has to keep no stock or inventory, nor premises, so there are big overhead savings over a traditional business.
The dropshipping fulfilment company sends the product to the customer by airmail for quick delivery, or train or sea shipment. Sometimes these dropshipping fulfilment companies are based in China, but they could equally be based in any country including the USA. Examples of Chinese drop shipping companies are Alibaba or AliExpress.
OMS has reviewed a couple of drop shipping companies which are based on the Shopify platform.
If you want to look at the OMS review of ZeroUP, go here.
An example of a USA based drop shipping company would be TREX or Slingly, although there are many other systems out there.
If you want to look at the OMS review of TREX, go here.
If you want to look at the OMS review of Slingly, go here.
MLM involves selling of products at different levels within a system or programme. An example of such a system would be The 4%, which OMS, has not yet reviewed.
In most circumstances, OMS would NOT recommend that you invest in an MLM business.
However, there are a few exceptions which we will advise on shortly once we have fully explored and tested them.
Additionally, there are other forms of business which rely on trading, such as the buying and selling of shares and options.
These systems can be used so as to generate relatively good levels of passive income. It is claimed to be able to start with relatively low levels of capital, although we have yet to fully try this out.
An example of a Share Trading System is Share And Options Trading Education from Sean Allison. For the OMS review of How To Open Your Trading account With Professional Options Trading Education Program using Sean Allison´s training system click here.
For the OMS review of The Wealth Trading Company, from Darren Winters click here.
Another means of achieving passive income is from trading in Cryptocurrency. There are a number of groups specializing in the buying and selling of cryptocurrency, such as Keys To Freedom.
We will shortly be publishing our OMS review of Keys To Freedom.
Property is a massive subject for consideration in relation to Passive Streams Of Income ideas but does usually demand that you have at least a proportion of the capital available to invest in the development which you are interested in. The Rule Of Thumb is that you need approximately 20% of the development cost, whether you are managing a large development or investing in property on a small scale.
We are aware that some people claim it is possible to use entirely other people´s money, but we are quite sceptical about the effectiveness and risks of such a strategy.
Your role in the Development process could be as:
Owner (of the site and the eventual development), which could be Freehold or leasehold for a fixed term of years.
Investor (in all or part of the development).
Some investors purchase only Freeholds of properties and do not
There are numerous franchises available in the property market, one of which is Platinum Property Partnership. Their financial model is based upon Houses of Multiple Occupation (HMO), and involve identifying properties in certain key locations, which have parking available and also which are near public transport. These properties may also be near such places of intense employment such as factories of large office complexes, Universities, Hospitals etc.
The identified house is purchased at a certain price level, which is factored depending on the anticipated rental income from each individual room available for rental.
The house is then refurbished and extended and upgraded to conform with the required Building Control and Fire Regulations.
Once the refurbishment is complete, the individual rooms are furnished to a suitable high standard and offered to young professionals to whom this standard of accommodation is targeted.
Rental agreements are prepared and signed by the landlord (you) and the tenant, on whom you will have taken up references before agreeing to rent them the room.
Another example of a successful property investor is Kevin Green.
Kevin Green´s success model is based on buying ¨Distressed Sales¨, ie those where the vendor is under some pressure. For example, there may be a charge on the property and the owner may be behind with payments, so is being pressurized by the bank to make all payments, or if the owner is unable to do so promptly the bank may threaten repossession.
Kevin Green specializes in doing deals under such circumstances, then refurbishing or improving the properties and selling them on at a profit.
Property is such a large subject area, we will publish separate reviews about these opportunities in due course.
From all of the passive streams of income ideas which are listed above, it is clear that depending on how closely you wish to be involved in each of the businesses, and in what role, there is potentially a lot of work involved in many of them. They can hardly be described as Passive Income.
So you need to choose carefully the business which suits you best, taking account of the amount of capital which you have available to invest, and also the amount of time which you are personally able to invest.
You need to be aware of how much money and time it will take to develop your business. You need to assess at what stage you will be able to make passive income from the business, and exactly what commitment will be required once that stage of development has been reached.
You also need to look at what options there are in the particular business model which you have chosen for an Exit Strategy. What will you do? Hold the business in perpetuity, and pass it to your heirs, as your legacy? Alternatively, do you plan to build the business up to a certain stage of success, and then sell the business as a going concern, so you bank the proceeds of the sale as your return on the investment which you have made to start and build up the business.
Wealthy Affiliate (WA) is a well proven successful training and online marketing platform which was started in 2005 by Kyle and Carson, who are the owners of the business. It is a comprehensive software system and also a membership community, which includes masses of training and support and enables all its subscribers to make money online writing, or blogging as it is commonly known.
You can even sign up to WA and try this platform out for FREE indefinitely!
This includes preparing and hosting two websites of your very own on WA, it really is an incredible offer!
Wealthy Affiliate has been developed and improved over the years and now has more than 1.3 million users and members worldwide. It is a fantastic and supportive community whose members help each other play it forward with regard to training as well as supporting and developing each members business.
You can sign up to Wealthy Affiliate in order to try it out, and you can continue to use Wealthy Affiliate for as long as you like for FREE. With this FREE membership, you have the ability to create 2 websites for your personal use, and use all of the system’s capabilities sufficient to develop those websites to be usable on the internet, and these are hosted and maintained by Wealthy Affiliate on the SiteRubix platform.
Wealthy Affiliate gives you the platform, the hosting, the training, support, mentoring and content creation facilities and systems to successfully make money online writing for FREE.
If you decide that you like Wealthy Affiliate, you can sign up for Premium Membership which costs just $49 per month and gives you enhanced facilities and functionality within Wealthy Affiliate. Alternatively, you can sign up for the annual membership which is further discounted.
Wealthy Affiliate teaches you how to make money online writing using their step by step training system, which is very comprehensive and supported by text lessons as well as videos. You are required to complete practical exercises at every stage of your own websites, to prove that you have understood each lesson.
If you are not clear about any points you can refer back to the training, or you can refer to a massive database of knowledge which has been built up by subscribers over many years
There are plenty of systems and offers of how to get rich quickly using their respective systems, fondly known as ¨Shiny Objects¨, which are available online.
Many of them involve various levels of UPSELLING, meaning that you subscribe at one level of price, but are quickly induced to spend more money on the next level of SHINY OBJECT SYNDROME so that you can ensure your success to the next higher level.
Some examples of other available training systems and software offers are present here on OMS, see our reviews of the following:
Morrison Academy, click here.
Affiliate Marketing Dude, Marcus Campbell, click here.
We do not recommend either of these systems as being superior in any way to Wealthy Affiliate.
There are too many systems out there to mention, but we have come across nothing which is close to the offer from Wealthy Affiliate.
No other system in the marketplace offers this level of FREE usage for trial! You don´t even need a credit card to sign up!
There is only one level of WA membership other than the FREE membership which provides limited functionality.
So there are NO UPSELLS WITH WA, which is a common feature of much other training and online marketing systems on the marketplace.
There are many successful Wealthy Affiliate members, whose businesses have grown through the years with WA. These successful members help the more junior and newer members by providing training through videos, mentoring and problem-solving help to all members. There are help and technical support available 24/7 365 days per year.
In the table below are listed the top 13 Wealthy Affiliate Ambassadors, and their Helper, Creator, and Activity rankings, together with their contribution in Ambassador Days
We subscribed to Wealthy Affiliate in September 2017, and have been using and trying out the WA system extensively and in-depth since that time.
We have created several websites and either hosted them on Wealthy Affiliate or transferred them into WA. One of the sites is this one where we have written and published more than 50 posts or blogs about online marketing.
The Safety of the Wealthy Affiliate hosted sites is excellent and they are all provided with SSL, so https:// handle.
The training provided within Wealthy Affiliate is excellent and provides for those who wish to make money online writing, using their own Blog Posts, alternatively those who wish to promote membership of WA.
The community support from Wealthy Affiliate is also excellent, 1.4 million members can´t be wrong!
If you would like to try out Wealthy Affiliate for FREE click here.
If you would like to sign up to Wealthy Affiliate Premium Membership click here.
The first step in the cycle is to identify a need for something, a product or a service, which will solve a problem for a purchaser, and save them either time or money, or risk. This is a fundamental step to understanding making money in online business.
The Wealthy Affiliate training on this subject is here:
You need to decide what niche you are in, that is who is your audience, or customers. What demand are you going to try to satisfy?
Some people choose a passion of theirs, such as a hobby or a sport they may be interested in. Whereas other people choose to solve problems such as weight loss for women, or hair loss for either men or women, or both. You need to choose a market segment which is sufficiently narrow that you do not have too much competition. For example, Corgi dogs as a niche, as opposed to the market for dogs as a whole, which would have massive competition. Or maybe fretwork patterns as shown in the image below.
So recognizing the need or problem to be solved within your niche, or by your target audience, you will need to offer solutions to purchasers in order to achieve success for yourself, ie to conclude sales.
There are many sources of products and services which you can access and use (in addition to making or providing your own products and services) in order to make a good offer to solve the problem of your customers. Some of the sources available for affiliate products are as follows:
Affiliate marketing is a popular low-risk type of business model, where the introducer of the buyer receives a commission from the seller or party who fulfils the order.
There are many models involving drop-shipping where the seller of the product does not fulfil the order themselves. The seller places an order with the drop shipper or fulfilment company who may be in a different country, such as China. Alibaba and Ali Express are well known and successful drop shipping companies with a massive range of products available.
The products which you offer will need to satisfy the demands of purchasers, solve their problems, help them in order to be successful.
Therefore you need to choose carefully which products you choose to offer and from where to source them.
You can create your own products and services to suit your niche.
There are many known facts about the typical behaviour of customers and the processes which they employ prior to making a purchase, either online or offline.
1) Customers rarely buy upon the first contact with a product or a seller.
2) It typically takes seven times contact from the first encounter to concluding a purchase, including the research phase, familiarity and information gathering, comparison then finally purchase from a trusted seller.
3) Purchasers do not buy from sellers they do not trust.
4) Purchasers exchange money for something which they believe will solve a problem for them.
5) Customers have far greater access to information and reviews and feedback about products that has ever been the case before, so they are better-informed purchasers.
6) Customers see through scammy products and will not buy from sellers who offer these.
Consider your own process for identifying and evaluating a product before purchase and imagine that many people will follow similar processes before they decide to purchase a particular product, and then the process for identifying the supplier from whom to purchase the product.
Once you have relevant traffic, you have all the potential in the world to earn money from sales.
You can get traffic from a number of sources:
Ideally, you would want Free Traffic, but that may not be sufficient volume to achieve sales quickly enough.
Therefore many providers pay for Ads and drive traffic to their websites.
Amazon has a massive pool of potential buyers who are primed and ready to buy, so in many ways, it is an ideal marketplace, but on the other hand, there is a massive amount of competition, so prices will tend to be lower.
Customers have a perceived value about what they are prepared to pay for a product, depending on how they like to receive that product. For example, shoes may be preferred to be bought traditionally from High Street stores by some buyers, because they want to ensure the comfort and fit of the shoes.
Other buyers may be quite happy to receive something through the post by ordering online if they think that there is no risk, and they trust the seller. Especially if they have the right to return the goods if they are not satisfied for any reason.
Some customers may be prepared to pay more if they perceive there is added value from certain sellers, for example, no quibble money back guarantee, or servicing and repairs are provided.
Making money in online business is not as straightforward as many people originally anticipated.
There is a complex process of interaction and understanding between the purchaser and the seller. The purchaser has multiple choices at every stage of the transaction, and can easily be put off from buying from you at any stage of the process between introduction (or visit) and eventual purchase.
You need to establish a relationship with your prospective purchaser in order to build trust so that they would eventually buy from you, even if this may take up to seven visits before a purchaser is satisfied and has an intent to purchase from you.
In order to fully understand the Customer Purchase Lifecycle, and how to make money in online business, you may need further training, if you are not already fully aware of the process and all the variables and complex factors which contribute to it.
If you would like to see our review of Wealthy Affiliate then click here.
Wealthy Affiliate can provide you with this training if you need it, and you can sign up for a FREE account to try it out for an unlimited time, click here.
Once you have created a website on your domain, you have a framework and blank canvas upon which you can express your ideas and communicate with your audience of potential customers for your chosen niche, by creating your initial website content.
You have the opportunity to leverage the Site Content platform within Wealthy Affiliate, which will facilitate and make the process of content creation and uploading to your website a very easy process since everything is linked and compatible.
Here is the Website Content Manager training available to Free Members of Wealthy Affiliate (as well as Premium Members of course):
One of the first things which you need to do is to introduce yourself via your website content to your customers, and this is usually done using the About Me Post.
Posts are articles which allow readers to communicate with your website using comments, so they can engage with you and you with them and exchange information.
You can communicate with your readers and customers about your Brand, and what it stands for and why people would benefit from trusting you and purchasing from your Brand.
You can choose which theme to use from more than two thousand available if you subscribe to Wealthy Affiliate, and more than sufficient selection of theme options even as a Free Member.
Dependent upon which Theme you choose, you can allocate Menus at Top, Bottom or Side of the screen which enables you to Organize and Structure the Pages and Posts which comprise your content.
The Site Content Platform within Wealthy Affiliate is the Ultimate Writing Platform. It allows the user to carry out the following functions with great ease:
There are templates available within Wealthy Affiliate Site Content, which you can use, or you can create your own templates as may be required.
Within your content posts and pages, you can allocate links to other documents and sites.
Choosing the correct keywords for Search Engines such as Google, Bing, Yahoo to crawl over to find the most Relevant Content and index and rank is crucial to the success of your website and Wealthy Affiliate explains how to find the right keywords using different methods such as the Alphabet Soup method and using their proprietary JAAXY keyword tool, which is available to Premium Members.
You can develop your own writing style within your posts in order to effectively communicate and engage with your audience. You need to inform, engage with and communicate with your audience using a friendly style, rather than a formal essay style.
You can enhance the effectiveness of your posts and pages by adding colour graphics, images and photographs to the content so as to make it more visually friendly and attractive to catch the readers eye.
Premium Members of Wealthy Affiliate get access to more than a million images free of charge as part of their membership subscription.
Free Members of Wealthy Affiliate can upload their own images without charge.
You can use the Wealthy Affiliate Site Content Manager on the WA Platform to easily and quickly develop new content for your website if it is hosted at WA. It is by far the easiest way to complete your own website and establish your own valuable Internet Real Estate.
If you want to see our review of Wealthy Affiliate go here.
If you would like to sign up for a FREE Wealthy Affiliate Account for an unlimited period click here. No credit or debit card required.