Shake Your Money Maker
When it
comes to online revenue it basically boils down to 3 income streams:
- Advertise other people’s stuff
- Recommend other people’s stuff through affiliate links
- Sell your own stuff (products or services, not literally the things you own)
However for all three of these
options you need to have built a reputation and created some authority. Who
would care if I recommended someone’s e-book? Who would notice an advert on my
site? If I wrote an e-book, who would buy it?
No one. Because at the moment I am
blogging for me, I’m not thinking about my audience, who are my readers? What interests
them? How can I add value to them? So this got me thinking about who my target market
should be, what problems are they having?
- What product or service can I develop to solve or reduce their problem?
- And how can I do that differently to everyone else out there already doing it
I would love to create a product or
service that helps someone, meets a need, fills a gap or solves a problem. I’ve
got a couple of ideas that I really want to figure out how to create myself
without having to get technical help, otherwise I’ll feel like I haven’t
created it, just had the idea. Anyone can have an idea. But I guess lots of
people make lots of money by having an idea and making it happen by getting
other people to create it then take all the glory for it.
Make Money Sleeping
I’m not against supplementing my income with advertising or affiliation
on top of offering a product or service. But I don’t think I’d get much entrepreneurial
satisfaction from an advertising and affiliation business. However most people earning money this way
actually give away amazing free advice and resources, so maybe that's the key to
the satisfaction. I‘ve been hearing a
lot of good things about Pat Flynn and his Smart Passive Income site, so I’m
going to do a bit of research to see if this type of business model could work for me. Although I
may struggle on recommending products and services I use, as I may have
mentioned before, I’m saving all my money to travel the world, so I’m not actually
buying much stuff that I could review, and I wouldn’t be able to endorse something
that I hadn’t liked or found useful myself.
I also wouldn’t want to just jump on the bandwagon and be endorsing the
latest big thing in digital downloads.
Have you had any success through affiliate marketing or advertising on your blog? I'd love to hear from you.
Have you had any success through affiliate marketing or advertising on your blog? I'd love to hear from you.
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