The New Wealth
In the past, it was always proclaimed that the field of real estate, had created more millionaires than any other field. This is no longer true, today that field is the Internet. In the past two or three decades, more millionaires have been created through innovative use of the Internet.
Which is the main reason for this particular section in the book. Currently there is a crazy rush and hurry of various people offering courses, memberships, and online learning in how to leverage the Internet to become rich.
Please be cautious, do research, and your due diligence concerning any offer to help you become a millionaire. That being said, there are more opportunities in numerous ways of making money through the Internet. One of my friends is currently ramping up his new company in the field of Internet and Social Media advertising. He plans within 4 to 6 months to be self-sufficient and independent. He will then quit his regular job to concentrate on his new business. He is already on track to be making within the next 90 days income of over $15,000.00 per month. This is a very conservative estimate, I believe that with his current plan and skills he is well on the way within the next year to make more than $300,000.00 annually.
I speak of this only as an example.
There are several various people on the Internet currently offering to gain you an income through the Internet by one of the following:
Amazon and Shopify, Affiliate Marketing or through Clicks, E-Mail offers and Sales, etc…
They are all valid however the steps and infrastructure to be put in place is not simple or easy for the average person. Therefore again be cautious take it one step at a time, do your homework, and always make sure you’re not about to lose your shirt.
So how is this done?
Amazon and eBay are well-known. Amazon currently does more than 136 billion American dollars in Sales. This is a huge market and a huge opportunity.
Several people are currently offering information and courses on how to create your own Amazon business and selling products on Amazon.
Careful consideration is necessary here.
There are obviously already numerous number of companies and or people who are indeed selling on Amazon and making money. However not everyone makes good money or is well placed with good products that are profitable.
One of the ways that some of these people suggest is to pull up through Google the Amazon top 100 sellers. Not only can you get the top 100 sellers, you can also do it by category. This is supposedly a good indication of what sells and what makes money. However it has to be the right price point and your cost has to be low enough to permit a reasonable profit after all the Amazon fees, duties, and shipping costs have been factored in. Obviously a major part of this is having the right supply and the right supplier.
Negotiate, Negotiate, Negotiate
Get the best prices possible. Source suppliers (Global Sources, WISH, Banggood, etc….) and find the right supplier at the right price and quantity.
Please be diligent and study and analyze your costs with Amazon and your suppliers as well as shipping costs before determining at what price you can sell and still make a reasonable profit !
One of the formulas or methods I like seems to be a common stream from many Online Gurus or self-avowed experts. Writing and or Blogging or VLogging (Vlog is video), combined with a structure of Landing Page, Thank You Page, and using or leveraging Clicks as well as promoting your own products or Books etc…
Basically, write (I actually use a Speech Recognition software to work faster) and be either someone with a large following or participate in Groups of similar taste or ideas to get the message out. You then offer link to Landing Page obtain E-Mails for a Database and then pass them on to a Thank You page for supplying their E-Mail where you provide an incentive such as free E-Book or article or such. Along the way have links for Affiliates and Clicks to make you money or commissions if they buy from these others. Use of an Auto-Responder (Automated E-Mail follow-ups) is made to automate as much of the process as possible etc…
Very Minor investments and no Hardware or physical stuff to worry about, I like it !
See the end of this Chapter to get more information and Links etc…
I mention earlier in the book how you should try to turn any Hobby or passion into a business and use or leverage Internet. There are hundreds if not thousands of stories of people who use Shopify and/or Amazon to do this. Give it some thought and also do your Research and Homework !
Ways to Make Money Online
WRITE A BOOK AND GET ROYALTIES.
Okay, so this one takes a bit of work. But let’s say you’re an expert on a subject. On Mutual Funds, for example, Once you actually write the book and put your expertise to paper, then get it published, you’re pretty much done.
From then on, whenever people buy your book, you get paid in royalties. The precise amount of royalties are contingent on your contract with the book publisher.
CUT OUT THE MIDDLEMAN WITH SELF PUBLISHING.
If you self- publish on Amazon or another self-publishing platform like SmashWords or Digital2Draft, there are standardized contracts that pay you depending on how many people download the eBook or read it through such as Amazon’s eBook-lending program. That way, you can cut out the middlemen of the publishing industry and make a higher percentage of profit from your own book.
CREATE AN ONLINE COURSE AND GET PAID FOR IT.
Let’s say you’re an expert in a subject, but don’t think that a book is the right way to communicate the knowledge you want to share.
You can do it with an online course. You can make and upload one to Udemy, for example, and set your own price points. Whenever someone buys the course, you’ll get paid.
MAKE A WEBSITE AND GET ADVERTISEMENT REVENUE.
If you’re an expert in a subject, but that subject isn’t fit for a book project or an online course, set up a website!
Use WordPress, Weebly, or some other web-creation platform to make a site and make your guide there. Then sell online ads – which you can do with Google, for example – on your site so that you get some spare revenue whenever someone reads your work.
If you’d rather implement a paywall instead of advertising, the startup Verst can help you do just that.
OR MAKE A YOUTUBE VIDEO GUIDE.
Stick with me. Let’s say you’re an expert on a subject, but the best way to convey your information isn’t in a book, an online course, or a post on the web. Instead, consider making a YouTube video.
YouTube is filled with thousands and thousands of guides on every topic imaginable. If you’re an expert on how to do a factory reset on an iPhone, you can make a video about that. If you’re an illustrator and want to explain the vocabulary of your trade, you can make a video about that.
As with the web, YouTube lets you set up ads on your videos. People searching for those subjects will find your videos, watch them, and then the ad revenue will roll in indefinitely.
IF YOU ALREADY HAVE A WEBSITE, USE REFERRAL LINKS.
Whether your website is an online guide, a blog, or whatever else, use referral links whenever you discuss a product.
Sites like Amazon, for example, let you add a bit of code in the URL of a product. If anyone buys the product through that URL, you get a percentage of the revenue from that purchase
REFER PEOPLE TO APPS.
If you use an app often enough, referral credit is as good as cold, hard cash. Uber and Lyft (ride-sharing), Seamless (food), Touch of Modern (clothes), and other apps offer you some credit for every person you refer who uses the app to make a purchase.
BE IN A COMMERCIAL.
Any actor will tell you that getting an acting gig – even a commercial – is tough. But if you live in a major metropolitan area, though, it isn’t as difficult to become an extra.
If the contract is good, you can make some serious money. One person was featured in a Target commercial that was in heavy rotation during the 2012 Summer Olympics. He got $500 every time it aired and used the cash to pay off a good chunk of his college tuition.
AIRBNB YOUR UNUSED APARTMENT OR ROOM.
If your kids have flown the coop and you have an extra room in your house, or if you’re traveling for a while and won’t be in your apartment, consider renting it out for the short term on websites like Airbnb or VRBO.
They basically allow you to turn your room into a hotel. You can list your room, set rental dates and prices, and people visiting the area will pay you to live in your room for a short amount of time. (Check about Local Regulations concerning such Rental)
How much you can make depends on the rental market in your area. If you have an apartment in Williamsburg, Brooklyn, for example, you can stand to make a pretty penny by renting out your room while you go backpacking in Europe for the summer. But if you’re in Pittsfield, Maine, you might not find as much demand for your house’s extra bedroom.
INVEST IN INDEX FUNDS.
It’s generally a really bad idea to try to play the stock market unless you’re a financial professional.
There’s one exception: index funds. Investing in a small number of stocks is a volatile business. It’s possible to make a lot of money, but you could lose a lot, too.
Investing in index funds puts a little bit of money in a lot of stocks. Those stocks track parts of the stock market as a whole. One index fund known as the S&P 500 has grown by more than 2,000% over the last 40 years, so it’s a relatively safe, stable fund to invest in.
However, you likely don’t stand to lose or gain as much money as you would if you invest in individual stocks.
To invest in stocks, the easiest way would be to get a brokerage account at a bank like Charles Schwab, or use the free stock trading app Robinhood, which gives you a free share in a stock, usually worth around $5 if you sign up with a referral code
INVEST WITH STASH AND GET $5.
Stash is another app that, like Robinhood, lets you invest in different stocks. You get a $5 bonus just for joining that you can use toward investments.
SAVE YOUR MONEY IN A HIGH-YIELD SAVINGS ACCOUNT.
When you save your money in a savings account, banks often give you extra money based on interest.
Sometimes their interest rates can be low – below inflation rates, even – which means you’re effectively losing money. The interest figure, often referred to as “APY,” can differ based on which country or state you live in and what each bank offers in your area. On the low end, they’re about 0.01%, assuming you meet the bank’s minimum requirements.
But with a high yield savings account, you can get an APY of about 1%. It isn’t much, but it’s significantly higher than what a low-interest account would offer.
Unless you have a lot of savings, it’s hard to be eligible for a high-yield savings account from a traditional bank. Instead, you’ll probably have to park your money in an online bank, like Ally or Synchrony. Since they don’t have brick-and-mortar stores, they pass the money they save on rent to the consumers, with things like high-yield savings and by reimbursing users for ATM fees.
INVEST IN HIGH-DIVIDEND STOCKS.
Among the funds you invest in, make some high-dividend stocks.
There are two kinds of dividends: cash dividends and stock dividends.
Cash dividends are when companies give shareholders cash based on their profits, and stock dividends are when corporations give shareholders extra stock.
Dividends are given for different reasons, but they’re ways that companies reward shareholders for holding on to a stock.
The list of companies that regularly give out dividends sometimes changes, but you can find some recent ones on finance sites like The Motley Fool, which currently recommends Iron Mountain.
GET EVEN MORE CASH BACK WITH EBATES.
Thousands of online stores, whether it’s J.Crew or Amazon, also offer cash back, for purchases you make on their sites. You just need to know where to look.
The website Ebates catalogs almost all of them. If you shop with their browser extension installed, it’ll tell you when cash back or coupons are available. You can also
use the extension Wikibuy or Honey, which have Ebates integration built in, and additionally checks in the background if the item you’re shopping for is cheaper on a different website. (Although personally find Honey and such Popups very annoying)
TopCashBack is another good EBates alternative. It’s a bit harder to use, but sometimes offers better rates.
SELL YOUR PHOTOGRAPHY TO THE WEB.
Sites like INSIDER always need good photos for our content, like the one above.
Sometimes we take our photos ourselves, sometimes we get them from news-wire services like Reuters and Getty, and sometimes we get them from stock image services, like Shutterstock and iStock.
For Shutterstock and iStock, anyone can submit their photos to be included in the service. You just have to follow their guidelines and upload your photos. Then when someone (like INSIDER) downloads your photos through them, they’ll pay you a fee. If you’re a photography hobbyist, it’s a relatively simple way to make some money from your photographs.
GET PAID FOR WATCHING TV AND PLAYING VIDEO GAMES.
It’s the dream, isn’t it?
Sites like Inboxdollars and Cashcrate will pay you money to keep track of the television you watch, the video games you play, and other habits you might have already. All you have to do is take surveys to give your feedback, and they’ll pay you.
The money comes from research firms that want to understand consumer habits.
MAKE MONEY BY TAKING SURVEYS.
Taking mindless surveys is a time-honored way of .making money on the Web, InstaGC, Earnhoney, and Prizehoney are all reputable sites to do it. You should note, though, that they all have some minimum amount of money you need to get before you can cash out.
GET PAID FOR BROWSING THE WEB.
Similarly, Swagbucks will pay you for installing an add-on that tracks your searches. Like Inboxdollars, they’re a middleman for research firms that want to understand how people use the web.
You earn points for doing everyday things, and can redeem them for gift cards at stores you’d probably shop at anyway, like Amazon and Walmart.
Other Alternative Use Amazon to Sell Niche Product s (Warning this can be very difficult and Expensive, first do your Research) using such as Shopify and or BigCommerce etc….