Tag: make money online

04 Mar 2016

Make Money Online From Your Home

It’s not an illusion nor a dream. Over 10% of global population are making at least some money online, working from their homes. For the most part, we — who are making money online — make more in an hour than most make during entire 8-hour shift.

The best thing is: life without the boss freakin’ rocks!

 

How it’s possible to make more money online in an hour, working from home, than in 8 hours working for someone else?

 

Question explains it. What’s happening when you have a traditional “job” is that you’re in fact earning money. You’re not making it! Earning money by definition implies that you’re selling your labor for the agreed (fixed) monetary compensation. And that — as you already know — has it’s limits.

Making money however, does not imply anything “fixed” or “agreed.” There are no limits. You are engaging a global market with your solutions – same thing your employer is doing. It’s just that you’re engaging that market from the vicinity of your home office or even a simple living room – you’re in fact making money online. 

 

Build a website that makes money!



 

Ways to make money online

 

Without any desire to go into hypothetical scenarios, most common way is to start freelancing. It’s basically same as traditional job because you’re selling your intelectual and some physical (typing, drawing, talking, acting…) labor/effort for monetary compensation.

make-money-online-freelancing

But…

Nothing is “fixed”! That’s most important to remember. How much will you make, let’s say per hour, totally depends on you. The difference between traditional job, where you have to commute Monday-Friday and then put up with some bullshit, and freelancing, is when you’re freelancing, you’re in fact making money online. The only things that get commuting are your files, dispatched to your client(s) and money dispatched from your client to your bank account.

It’s estimated, judging by the current trends, that 20% of all employees in US will switch to freelancing in next 5 years because, when you think about it, there’s no more need for offices and necessary supplies/equipment. It cuts company’s costs exponentially.

The real beauty of freelancing is the fact that you’re exposed to the market directly, in difference from traditional 9-5, where your impact on the market is indirect – you depend on your employer who’s making the deals. That fact, as scary as it may appear, in fact opens your mind and you start seeing endless opportunities.

In one point, things become clear – if you want to move beyond $40/h, you need to figure out the PRODUCT. In other words, you must develop a solution and solve some problem many people have. Bigger the solution, more money you make. Thus, you start making profit! which is the key to wealth building and freedom.

And that’s the point where you really start making money online. You invest what you have to spare either in your own product (solution) or in someone else’s. For instance, if you take some time and browse through Crowdfunder, you’ll see the network of investors, scouting for the next big thing. People invest anywhere between $100 to several millions in some startup they find interesting and with the great potential. If everything goes well, those $1,000 turns into $10K or $100K in a matter of a year.

If you have any doubts in my claims, Google “Coolest Cooler” and similar crowdfunded startups and you’ll see it.

Remember: you’ll get paid in direct proportion to the value you’re bringing to the market and not the penny more or less.

 

But who says that you can make money online only by freelancing or building your own product (virtual or physical, all the same)?

In reality, no university degree is needed for success. There are only two main disciplines that you must master: sales and marketing. Then you can pick from, I don’t, several millions different products and engage the market of 2 billion prospects. That’s the number of people that go online each day.

 

How do you make money online reselling third party’s products?

 

First and foremost – learn sales and marketing! Without it, you’ll keep busting your balls for someone else for the rest of your life.

Now why sales and marketing? Why it’s imperative to learn these two?

How do we call our current societal setup? Monetary-market system or consumers society. Getting a picture? From whatever angle you look at it, there’s something exchanging hands for agreed monetary compensation. You have a market as the key playground and on that playground you have 3 key figures:

  1. Manufacturer – problem solver
  2. Seller – middleman
  3. Buyer – in need for a solution who buys because he/she wants, not necessarily because he/she needs!

Hardly any manufacturer is selling its solution in retail. For the most part, goods go to wholesaler, who then sell it to the retailer and eventually you buy it. It’s how it goes.

So, if you wanna make money online in a fastest way but don’t want to come up with your own product, you have to appear in a role of a reseller (wholesales or retail).

Here you have 2 options:

  1. Affiliate marketing
  2. Dropshipping

If you’re interested in dropshipping, there’s a lovely, simple guide to dropshipping at Shopify. In short, you’re reselling the goods without stacking them in some warehouse. It’s a retail type of selling but with low overhead.

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Example of the dropshipping process

 

That’s the problem in the same time. Since it’s easy to setup everything with no more than $200, this type of entrepreneurship is picking up on the momentum and it seems like folks are competing who’ll cut the price more. It leads to another problem and that’s extremely low margin because, you do have to pay the supplier not only for the order but also for extra cost since it’s the manufacturer or wholesaler who will handle the packaging and shipping for you (usually anywhere between $2 and $5 per order.)

Still, you need to know: A) how to sell, and B) how to market your goods. Luckily for you, you can learn it HERE.

 

Affiliate marketing is something else.

 

There are products with extremely high margins where a single sale generates $100 profit for you. Now you can do simple math and figure out that you only need to make 1 sale a day to earn 3 grand a month, which is the average amount you’ll get paid for some low entry job. Only, you’ll have to bust your ass for 8 to 9 hours to earn those $3K. In affiliate marketing, it takes only 1 great cold email or a great landing page. So it’s basically hours of preparation for something that will generate money on auto-pilot later on.

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The chain process in affiliate marketing

 

That said, there’s an obvious problem: what to sell and to whom?

First of all, you need to figure out ‘why’ you’re selling something. Only then comes the ‘what’ and ‘how’. Because, if you don’t know why you’re doing something, it’s gonna be that much harder to succeed. If you do not understand what I’m telling you, then I strongly suggest that you take The Sequence master course. It’s clear that you don’t have a clue about what’s been going on around you. Take a look (link opens in new tab, don’t worry):

 

Make Money Online and Build Wealth with The Sequence Master Course

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The fact is that 85% of people who become obsessed with making money online don’t know the basic rules of sales and marketing. The bulk just think how it’s enough to pick few products, buy an email list and start firing cold emails. In case you’re wondering what cold emails are, please do go through The Sequence. It will change the way you think about our society and how money is being made – online in particular.

There is a big difference between trying to sell something 101 and online selling. No eye contact; you can’t shake someone’s hand and exchange oxytocin, and you cannot use body language either in order to build the trust. On the internet, sales are made with the blindfold over the eyes of both seller and buyer. But the goods still exchange hands. Seller does manage to assure the buyer that his/her intentions are honest and buyer does purchase the product. We are talking about billions of dollars that change hands every day in online transactions.

Somewhere in all that endless river of money, there’s your cut. You only need to reach for it, that’s all.

The most common — and arguably the most efficient way — is to pick your niche/subniche, build the website around the central concept, make few initial picks (~ 20) and start attracting interested clientele. Easier said than done, right?

Again, there’s a good way and wrong way for doing it. It’s a knowledge that doesn’t come in one night of Googling the term “affiliate marketing” or “making money online.” We are talking about cumulative knowledge from many disciplines all condensed into one single niche website, then another, then another and so on.

Eventually, you’ll start thinking about your own solution to some problem people have. It’s inevitable because you’re exposed to that kind of stimuli. That brings game to whole new level.

All that we were discussing so far and the stuff that follows are thoroughly explained in 6 modules of The Sequence master course. You will be guided to setup the online business with or without your own solution. But you will be taught how to figure out that solution because that’s what you should be striving for.

 

And then we go back to the basic principle of monetary system – investments

 

You don’t want to freelance. Affiliate marketing and sales in general are scaring the bejeezus out of you. And you are not interesting in blogging about blogging about blogging or how crappy day you had the other day when that old fart blocked your exit so you had to go all the way back to the 20th floor to wake up the deaf crow and force him to move the goddamn car so you could finally go to work. Your boss was so fucking furious that he immediately cut 10% of your next paycheck. And so on, and so on. Yeah…there’s a shitload of similar blogs; not one making more than $200 in a good month.

 

What are your options? You do still want to make money online. So what the hell are you not seeing?

 

What you don’t see — if we are talking about some quick cash — are CFD’s or contracts for differences. Currencies, indices, stocks, commodities, you name it, people are doing it. It’s basically this: you speculate whether the certain pick of yours will go up or down in value over the precisely defined period of time. If you guess right, you earn money. Fail and you lose.

 

make-money-online-How-to-Trade-Options
Options trading should not be attempted before you learn how it’s done properly!!

 

How much do you make?

It depends on two factors: how much you’re willing to invest and what’s the leverage? Huh? Leverage? Wotta f…

Same thing that caused Great Depression last century, is now used to make few quick grands in less than 10 minutes. Or, of course, to lose hundred times more. It mostly depends on your trading skills. It goes like this: I’m the broker, running the Forex platform — your personal broker –, and I tell you this: invest $10 and I’ll multiply your input by 100. It’s my gift to you, every time you decide to invest money. Nice, you say. Instead of buying just $10 worth of options (buy/sell), you’re in fact trading $1000. But there’s a catch and something many people find “shocking” and “surprising” (wonder why?). If you fail in your judgment (prediction), you lose $1000!! Leverage works both way!

 

make-money-online-forex-trading
Proposed Forex trading strategy, one of the million out there.

 

To paint that picture even better, here’s the footer from Markets.com, one of the largest Forex and CFD trading platforms. Quote:

HIGH RISK INVESTMENT WARNING: Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.

Trading on margin, or using leverage, is the highly risky investment game. If you know what you’re doing, there’s a chance that your initial $100 of trading capital will transform into $100,000 in a matter of few months or even sooner. On the other hand, if you are gambling rather than investing, you might end up being forced to pick the loan just to be able to answer the margin call initiated by your broker. That’s what happens to people who disregard the primary rule of investing: stop-loss! 

There are quite a few detailed How-To’s for Beginners, but arguably the best one is this: babypips.com, the beginner’s guide to forex trading. Even though they are just dealing with the Forex market, it will be more than enough to understand options trading principles and rules. CFD’s are basically the same thing only instead of currencies, you’re trading with commodities, stocks or indices. You’re betting whether some, let’s say, stock will go up in future (buy action) or drop down in some period of time (sell option). Ergo, options trading.

But if you really want to make it as simple as possible and exponentially risky, go with binary options.

 

make-money-online-binary-option-trading-broker
Binary options are the top level risk. It’s a hybrid between options and betting. On the other hand, higher the risk, higher the revenues.

 

Basically, you’re placing the bet whether some ticker will go down or up in next 1, 5, 10, 15 or 20 minutes. There’s a leverage again so it’s just simplified trading on margin, slash betting. Binary options are in fact a hybrid between options trading and betting. It allows you to either make money online or lose 100 times more in a matter of couple of minutes. In fact, binary options are still illegal in some countries.

One thing is common for both classic and binary options brokers: they will keep calling you on the phone relentlessly. You have to leave your phone number during the registration so don’t be surprised when you see strange country code calling you. Relax, it’s your future broker from Cyprus or UK. When you finally explain them to fuck off and stop calling you, and they in fact do stop calling you, few weeks later they hire a new client manager, who pulls out the list and start the process all over again.

Only, it’s wise to talk with the broker because it’s in their best interest to teach you how to do it since their profit comes from only two sources: pip spread and potential margin calls. They are far happier when money is generated through the spread because margin calls are dreadful and in most of the cases mean loss of the client. So do spend some time communicating with your personal broker. You can arrange the email sequence if you don’t want to spend money on phone calls.

 

That will cover the most common ways to make money online. It’s perhaps too much to consume at once because, if you’re new to the online money-making game, you do need to upgrade your matrix. There’s a lot to learn if you don’t want to waste two most precious things: time and money! (family is something else and should not be mixed with business in any way!)

 

Waste no time because you have only so much Earth’s turns around the Sun. What you do with that time decides the level of your financial and any other success. Take the course of your lifetime and learn how to play the money game from your living room chair!

 

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