Making money online is no different than making money offline: you have to solve a problem. People will only pay your for the solution to their problem.
To make money online you first must identify a problem in you niche market and then find product to solve it. Approaching your online business from this perspective, will not only enhance your chance for success, but you will discover hundreds of ways to make money online.
First, you should identify the top 10 problems that people in your niche want to solve. Then take one-by-one, each of the problems, and ask yourself if someone would pay for the solution.
Next, you want to evaluate what resources are currently available to solve each problem.
The first question you should ask yourself is whether you possess a skill or have specialized knowledge that someone would pay for? An example would be if you are a good writer and you’re also knowledgeable about dogs. Ask yourself this question: Can I get paid to write about dogs? If you became a freelance writer, you could make extra money online from home.
Next, evaluate outside resources and see if you can find any that you could sell to your niche market. Go to websites that offer affiliate product to sell and may find the perfect product to sell to your niche. We recommend ClickBank.com and PayDotCom.com because they have thousands of affiliate products.
As you evaluate different solutions, you need to ask yourself if you want to sell a physical product or an information product. If you want to make money online but are new to online marketing, I would suggest that you not tackle physical products right away. To be successful at marketing a physical product online, you need to possess a technical expertise that most online marketers don’t possess.
Information products don’t require you to physically handle the product because they are downloaded from the internet. When you don’t have to handle a physical product, it frees up your time to devote to online marketing activities and increased sales. With a physical product you have to create your own sales page, conduct all the market testing, which takes time away from marketing.
Another advantage of selling information products it they generally pay a higher commission. For example, you might receive a 3% – 10% commission on a physical product, but you can receive 35% – 75% on an info product.
The bottom line is this:
1. Find a market that interests you.
2. Research and discover the top ten problems that people want to solve in your niche market.
3. Ask yourself this question: are they motivated to find a solution and are they willing to pay for the answer?
4. If so, is there a product or service that you can sell them to solve their problem?
5. If it is an affiliate product, simply drive traffic to the sales page and let them sell your prospect.
6. Collect your affiliate commissions.
7. Repeat the process in other niche markets.
You will discover when you apply this formula; there are a vast number of ways that you can make money online.