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Mar 5
Mar 5 - Accounting – Get It Started in Your Money Making Online Business
Mar 2 – Make Money Online The Easy Way
Feb 24 – 6 Surefire Ways To Increase Your Money Making Online Traffic Starting Yesterday
Feb 12 – Your Money Making Online Business – Top 6 Tips For Driving Traffic To Your Blog
Feb 9 – Using Return On Investment In Your Online Money Making Business
Feb 5 – The New FTC Guidelines and Your Money Making Online Business
Also, on Jan 22 – Distraction Management For Your Money Making Online Business
Accounting is probably a boring subject for many of you. But you need to understand the importance of accounting and at least a few basics if you are going to manage a successful money making business (or any other business). So if you are starting your money making online business, and you haven’t thought about the mundane subject of accounting, you should read up on it. This post is just a thumb-nail sketch of what you need to know. For my complete article go to www.articlesbase.com and read my article, “Starting Your Money Making Online Business – Don’t Forget Accounting”.
When you account for business activities, you use four types of accounts. These are assets, liabilities, sales and expenses.
Assets are those things you own like cash, securities, inventory or things you are going to sell, computers, etc., automobiles and maybe your office. Liabilities are your debts, amounts you owe to suppliers and maybe the bank. You know what sales and expenses are.
The next important thing is to record all your transactions in the correct time period. Just make sure that they are recorded in the correct month and the rest will take care of itself. The best method for doing that is called the accrual method. All this means is that a sale is recorded in the month it is made, not the month is which you receive a promise to buy or receive payment. Likewise purchase of an asset and expenses are recorded in the month purchased or the month in which you took title to an asset or incurred the expense, not the month paid. (A couple of exceptions are discussed below.) The date incurred depends on the date you have an obligation to pay. This could be on the date you ordered an item or service, or the date received or some other date.
There are some sales and expenses that need to be spread out over longer periods of time. It is, usually, easy to identify the date of sale for delivery of a simple sale of a program or package deal. However, the income from sale of a membership program or newsletter should probably be recorded in each month a member is active or the newsletter is delivered.
There are several examples of expenditures, which you would consider spreading out over more periods than the one in which you incurred the obligation to pay. The first one is inventory. You may not have a traditional inventory if you are in internet marketing. But to understand accounting it is worthwhile discussing inventory. Normally, if you buy books to sell, you would charge their cost to inventory and then charge your cost of sales expense each month for the cost of books you sold. However, if you purchase an ebook, you might expense it directly since you have no idea of how many you will sell so cannot determine the cost of each ebook sold.
Fixed assets have a useful life of several years so gradually are written off over their life. Examples of this would be your computer and related equipment, an automobile, office renovations and other similar costs.
When you are all done with this, each period you will calculate your profit form your money making online business by deducting the expenses you have determined belong to that period from the sales of that period.
The above is clearly only a bare outline of accoounting. The important thing for you is to recognize that accounting for your money making online business is critical to understanding your business. If you need assistance in setting up an accounting system, get help from an expert. Even email me with your problem and I will help you or point you in the right direction. But make sure you do it. Don’t delay.
Sign up over to the right and get my free ebook. It will answer all of your questions about how to make money online.
If you are looking for a great program to jump start your business, I recommend The Affiliate Code as the best program around.
But if you want to check out some others and particularly if you are interested in assistance with investing go to Working For Our Future and you’ll find a choice of several systems that will greatly improve your investment decisions.
You know there are no magic weight loss cures or sure-fire ways to make money online from home without lots of effort. And also here is no single approach to guarantee Internet marketing success. However, Internet marketing is not really difficult and many online marketers can have at least some Internet marketing success without being experts in your make money online business. This article will discuss some of the simplest strategies online marketers can use to promote their business online.
One of the easiest ways an online marketer can promote his business is through participation in industry related message boards. Message boards are websites, which provide a forum for online marketers to use, who share a common interest with other online marketers to share information related to his or her topic of interest. Getting involved with a message board related to your topic of interest will give you access to a group of Internet users who fall into the target audience for your products or services. It also can give you the opportunity to promote your own website. Many message boards will allow you to place a link to your website in the signature box. If you do this and also contribute useful commentary or content on the message board, may attract potential customers to your site via this link.
Additionally, some message boards may even allow you to post links in the body of your comments. This gives you the opportunity to offer your link in response to questions and comment. Of course, this is only valuable when your comments are relevant and offer value to the online conversation. However, you should be careful to review the terms of service and all guidelines on the message board before posting links to ensure this is acceptable. Failure to adhere to message board policies may result in removal from the message board or your posts being viewed as spam by other users.
Another effective strategy to make money online is to work on improving your website ranking for search engines. While the concept of Search Engine Optimization (SEO) can be rather complex and may require you dedicate yourself to some research and study on how to accomplish it, the extent you can realize any improvement in these techniques, will be a step in the right direction and improve your ranking with Google, Yahoo and other search engines. Some experts suggest you hire outside help to accomplish this. Of course, this is an option, but I believe that with a reasonable amount of study you can obtain most of the benefits, and save yourself a lot of money
Another similar strategy again suggested by some of the experienced people in internet marketing, which will help you to enjoy Internet marketing success, is to hire a consulting firm to plan and execute your internet marketing strategy. Just like SEO, internet marketing is essentially a full time job. Business owners may have a great deal of difficulty trying to run their business and organize their internet marketing. Outsourcing this work eases the burden on the business manager and will likely produce more favorable results. However, before you do this you need to have had sufficient success to be able to pay the consulting firm’s fees. Until you reach that level of success, you are on your own. So in the meantime, you can only suck it up and get to work. But you can do it. Just never let up on your efforts until you’ve reached your goal to make money online and become a successful internet marketer.
Sign up over to the right and get my free ebook. It will answer all of your questions about all the different ways to make money online.
However, if you are looking for a great program to jump start your business, I recommend The Affiliate Code as the best program around.
But if you want to check out some others and particularly if you are interested in assistance with investing go to Working For Our Future and you’ll find a choice of several systems that will greatly improve your investment decisions.
“Internet” “Business” “Profit”. To bring these words together into a successful combination for your money making online business you will need another word. “Traffic”. Every article you read about making your website or company successful always includes a discussion on the critical importance of traffic. It is pretty obvious that without traffic you don’t have a business. Aside from ensuring that you have a great product to sell, and you have your company`s organization is solid, it’s time to get down to the nitty-gritty. And that is generating traffic. If you already have a money making online website but you’re not getting the traffic that you feel you should be getting, then its time to go back to the drawing board. If you are struggling in this competitive internet marketing business, you need be a step ahead of your competition Increasing your traffic flow should have been done starting yesterday.
Everyone knows that timing is essential. But with generating traffic, you should always be on your toes and be a day ahead of everyone. Never think of today and tomorrow as a starting point for attracting traffic to your website, it should have been done yesterday.
To generate more traffic for your site, here are seven surefire ways starting yesterday.
1) Invest in good advertising with search engines Google`s Adwords and Yahoo`s Overture. These advertising schemes are truly popular and assure increased traffic. Although, this surefire way to increase your traffic costs money, and some would shy away from it for that reason, it is worth trying to see if it works for you. Also, using pay per click you are only spending money when someone actually goes to your website. You just need to make sure your ads are well targeted to attract only visitors truly interested in your product.
This search engine advertising method has reaped rewards for many companies. Lots of sites have used this advertising system successfully and reaped the benefits. Do not be left behind. Try Google and Yahoo`s advertising and see if your conversions pay for the advertising and add enough income to make this worthwhile.
2) Exchange or trade Links with other websites. Exchanging links with other sites provides increases traffic for both websites involved in the exchange. These links are also picked up by the search engines which will benefit both sites’ ranking on Google.
3) Search and use proper keywords or keyword phrases for your website’s content. Finding the right key words and key word phrases has been written about by everyone. However, it is extremely important to research key words and phrases on Google and other sources to attract the search engines to your website. The better and more thorough job you do in this research will improve your search engine ranking and directly benefit your traffic.
4) Write Articles that can lead traffic to your site. Submit articles to sites that discuss the same subject that your site deals in. You can also write articles for the major “ezines”. Attach your site’s description and link at the end of the article or in the Author’s Resource Box.
5) Join forums and form online communities. Join forums and online communities related to the product you are selling or business you are promoting. Entering into discussions related to your field of interest will build your reputation in your field and ultimately traffic to your website.
6) Offer newsletters. Develop a periodic newsletter for your followers. The more people who know who you are and what you are about, will build traffic to your website. In addition when you become well known, your followers will pass the word creating additional traffic.
Follow these suggestions and your traffic will increase starting yesterday. It’s the key to your money making online business.
Sign up over to the right and get my free ebook. It will answer all of your questions about how to make money online. I recommend The Affiliate Code as the best affiliate program around, but it you want to check out some others and particularly if you are interested in assistance with investing go to Working For Our Future and you’ll find a choice of several systems that will greatly improve your investment decisions.
Blogging can be very effective in attracting large volumes of traffic to your money making online business. However, for this strategy to be successful, you need to follow these 6 simple top tips.
1. Create high quality content rich with your keywords and phrases. This brings two main benefits. First, high quality and useful content will keep your blog`s visitors interested so they will visit your blog on a regular basis. Even more importantly they will be more apt to buy your products. Secondly, using your key words in good content will improve your search engine ranking, which will increase traffic to your blog.
2. Optimizing the titles of your posts for search engines is also an effective way of driving traffic to your website. To optimize your post’s titles use as many keywords or phrases possible, which people use while looking for your niche. This will rank your blog high on search engines and driving traffic to it.
3. Use email marketing with your blog. This is an effective way of bringing readers back to your blog as well as to create a list. With your own list you can sell your products and services to your list. By using an auto responder, you can send emails to your list about updates to your blog, hence driving traffic to your blog.
4. Social book marking is yet another powerful way to drive traffic to your blog. If you rank high on some of the most popular social book marking sites, this will drive large volumes of traffic to your blog
5. RSS feed for blog traffic. RSS feed is another way you can use to keep people coming back to your blog. When people subscribe to your RSS feed, they will get updates every time you make a new blog post, which will entice them to return to read your content. In other words create more traffic.
6. You can use some of your blog posts and convert them into articles. All you have to do is to add more content to your blog posts, add a catchy article heading and convert it into an article. Writing and submitting articles is one of the best strategies for traffic generation.
These six tips can significantly increase the volume of traffic to your blog, and guarantee that your money making online business will be successful.
Sign up over to the right and get my free ebook. It will answer all of your questions about how to make money online. I recommend The Affiliate Code as the best affiliate program around, but it you want to check out some others and particularly if you are interested in assistance with investing go to Working For Our Future and you’ll find a choice of several systems that will greatly improve your investment decisions.
I recently read an article on using ROI or Return On Investment in your money making online business. The author began by stating that ROI is the basis for determining profit for virtually any business. He goes on to say that ROI is also the kind of topic marketing consultants like to over complicate and make a big dramatic deal out of. In fact the whole concept is incredibly straight forward and easy to apply. Your ROI is simply what you can expect to gain from a potential endeavor expressed as a percentage, and you make this determination by comparing your net profits after all expenses you expect to earn from a project against your investment cost to get into it.
Many people assume that ROI is only for large companies. However, even a one-man show can use the ROI calculation to decide which projects are worth pursuing. You have finite time and resources so using ROI provides a means to prioritize projects and using what companies call a hurdle rate, you can quickly decide whether to go forward with a project or not. In essence using ROI can insure that you’ll put your resources where you forecast your return will be highest and therefor help you maximize your income.
RIO used properly can be very helpful to you to achieve the greatest return from your resources. Let’s discuss ROI in two parts. The first is the calculation of ROI. Second are some aspects of it that I think you need to keep in mind when using it.
In regard to the calculation the author of the article shows several examples, which I don’t entirely agree with. However, to save time, here’s how I recommend you calculate ROI.
Let’s say you have a hypothetical investment cost to purchase an ebook of $150. You estimate you can sell 10 copies for a profit of $5 a copy after all selling and other expenses. So your profit will be $50 and your ROI 33 and 1/3%,. ($50 divided by $150 x 100). Over simplified to be sure!
You will calculate ROI for all projects that you have in front of you, and proceed with those that yield the highest ROI and pass whatever you consider your hurdle rate. Your hurdle rate is an arbitrary minimum ROI you feel you need in order to make an investment.
Calculating ROI or Return On Investment is certainly not a new idea to evaluate how profitable you estimate a project will be. Most companies use ROI as a way to rank their profitable investment projects in order to decide which ones meet their hurdle rate and rank those that do. It makes sense to make this calculation when you are talking about significant investment decisions. Clearly, in calculating ROI making a good forecast of your sales revenue for the product is fairly difficult and requires the most care . You can decide on the sale price based on your assessment of market conditions, but how many ebooks are you going to sell at that price? You would base it on past experience and past sales of similar products. You probably would consider a range of possibilities to see if the worst case would still give you a reasonable ROI.
This is how you should use ROI. It is a tool for forecasting or estimating your profit on a new project. It can help you decide whether to buy an ebook or start working on a new system. It can help you decide whether to market a product or not. And after your product is on the market it can help you evaluate whether your product has been profitable or not.
One last consideration is that ROI is a percentage. To state the obvious you can have a number of projects with wonderful ROI’s, but if the total profits don’t add up to acceptable total net income, you can’t live on it. You might want to accept a much lower ROI on a project if it generated enough profit to live on.
So you need to understand that ROI is a tool for decision making. You can also use it to evaluate how you did after the fact, but that only has value for you in comparing the past periods of time to see if you are improving your money making online business.
Sign up over to the right and get my free ebook. It will answer all of your questions about how to make money online. I recommend The Affiliate Code as the best affiliate program around, but it you want to check out some others and particularly if you are interested in assistance with investing go to Working For Our Future and you’ll find a choice of several systems that will greatly improve your investment decisions.
On December 1, 2009, The FTC published new guidelines which affect all money making online marketing businesses. How difficult are these guidelines to follow and what must we all do to make sure we comply?
First of all no doubt these guidelines will slow most of us down a little, but they aren’t necessarily bad. Certainly, they are meant to protect the consumer from the overdone hype and wild advertisers’ claims that cannot be substantiated. We all know that online marketers seem to have a tendency to do just that.
So what do these guidelines really do. First and foremost there is mandatory disclosure of any material connection between yourself and any affiliate product you are recommending. Many of our colleagues don’t like this, but it will no longer be legal to make a recommendation sound unbiased when it is not. It even goes further in that you must disclose the fact that you rare promoting a product you have received for free.
A result of this is a notable reduction in fake blogs and blogs with raving consumer reviews when really the owner is really only reporting affiliate sales. Under the new rules it is not legal to play on a customer’s inexperience in this way.
Of course, you also need to be careful of people trying to take advantage of the concern or maybe even fear of internet marketers in regard to these rules. Innumerable programs are cropping up to guide you through the new maze. Some of this, of course,is legitimate, but also, some comes from unqualified sources. You need to be careful that anyone you contract to help you is qualified to do so.
And no one can insure compliance or protection. You need to understand the guidelines, and if you have any doubts about a marketing program you are undertaking, be sure to get quality advice before you go public with it.
The FTC is serious and not to be taken lightly. If you want to succeed in your online money making marketing business, you need to make sure you are operating within the FTC guidelines.
Sign up over to the right and get my free ebook. It will answer all of your questions about how to make money online. I recommend The Affiliate Code as the best affiliate program around, but it you want to check out some others and particularly if you are interested in assistance with investing, go to Working For Our Future and you’ll find a choice of several systems that will solve your investing problems.
If you are looking to attract quality traffic for your online money making website, there are a lot of techniques you can think of to make that happen.
However, you have to be aware that there are also website traffic experts out there that are just waiting to pounce on you and will hinder you from achieving success out of something you have worked hard for.
Here are some things to know so your time, effort and money will not be sucked down the drain.
1. Check out sites that are offering free software or free traffic before you pay for them. Not all paid stuff is better than free stuff.
Incorporate into your site what you have gotten and monitor if these things are effective for attracting traffic or not. This will help you evaluate worth of free software and traffic.
2. Do not pay for information that you could have gotten for free. There are many websites you can check out that give information with no charge. These websites are posting valuable techniques and tips that will prove helpful in increasing your website traffic.
3. Never believe in promises that seem to good to be true. It might turn out to be just that. For sure, you will receive emails from lots of so-called guru’s who that tell you that they are the best and that they can bring a bunch of website traffic to your site.
I can give you a wonderful example. I received a free offer to bring immense traffic to my site. In fact they did. In two days my site received 7,000 visits. Terrific! But not one of these visits resulted in a real view of my site let alone a conversion.
So check out the credentials of the person offering free whatever first before going ahead. Do some research about these people and their site. Remember that promises are easier to make that to turn into reality. See beyond the words.
4. Stop what works poorly and do what works well. If you have found something that somehow increased your website traffic, hold on to that and expand it. But if you see that it is not doing what it is supposed to do, close it down.
5. Learn to do everything yourself. When you have learned and understood the intricacies of website traffic, you will no longer need other people`s expertise.
Having a knowledge of how things work will make it difficult for others to take advantage of you. You will not be easily talked into something you might regret later. Research on the Internet the tools and strategies you can use to increase your website traffic.
6. Make the most out of the money you are spending. Make sure you need something before you go for it.
You have to be aware that there are a lot of schemers out there wanting to get hold of you hard-earned money. Be wary of grandiose offers.
7. Your website. The look and feel of your site is an important factor on the amount of website traffic you will be get. A professional looking site with easy access to everything will attract more traffic than a site that people cannot find easily, is too cluttered and difficult to navigate.
8. Have someone review your website. Ask them to give you an honest assessment about how your site appears to them. Negative comments are more helpful than positive ones because these will help you change what should be changed.
Follow these ideas and your online money making website will certainly be successful.
Sign up over to the right and get my free ebook. It will answer all of your questions about how to make money online. I recommend The Affiliate Code as the best affiliate program around, but it you want to check out some others, go to Working For Our Future and you’ll find three other great ones.
You’ve got your money making online business started. Now you want to grow it into something that will earn you a real income. How can you do it?
Well, most things you read give you a couple of different ideas on this. Two of the best ideas are affiliate marketing selling someone else’s product and buying your own reprint rights product and selling it on ebay or Craig’s list. Also, you can buy and sell stuff on ebay or you can sell drop ship stuff as an affiliate of Amazon or similar vendors. All of these can help you build your money making online business. It also depends on where you have started.
But let’s be honest.
You have certainly heard of one hit wonders. Usually, a rock band that really makes it big with one song. Then when its popularity fades, they’re never heard of again.
A making money online business can be the same. When you first start out, your focus is on getting started and trying to be profitable quickly. It makes good sense as a start up plan. But once you get off the ground, you need to change your focus. You need to stop thinking about the quick buck and start thinking about growing your money making business business so that it will build your income steadily over the long term.
There are a lot of steps you can take to build your long term money making business, but the first one to take is through back end selling.
Your back end consists of the additional sale or sales that you make after or maybe at the same time you sell your initial product. Your back end is where your making money online business will make the most money in the long run. So how does this all work?
To understand this you need to consider your marketing program as a sales funnel. You pour a lot of stuff into the funnel’s big opening at the top, and it comes out of the smaller opening at the bottom. But a sales funnel has a lot of leaks. Not everything comes out the bottom.
Think of the first product you sell to a new buyer as the entry point to your funnel. You price it relatively low, so lots of people buy it. That’s the wide end of the funnel.
What you want to do is to migrate those buyers to more expensive products so you can make more money on each repeat sale to those customers. Along the way you can also sell your customer additional products at the same or similar prices at any level of your funnel.
Not every customer will migrate all the way to the most expensive product you sell, and some who do will only buy one of your most expensive products instead of buying them all. That’s why you can think of your funnel as having leaks. Not every customer who enters it makes it all the way to the bottom.
But the funnel concept give you a nice picture of what you are trying to do. You want to sell more products to exiting customers and migrate as many of those customers as possible to more expensive product over time.
Your funnel has different levels, where you sell different products at different price points. So your initial sale is just the beginning. If you are going to build a real money making online business, you need to develop your back end sales. When you’ve done that, you’ve began to build a serious long term money making online business.
Sign over to the right and get my free ebook. It will answer all of your questions. I recommend The Affiliate Code as the best affiliate program around, but it you want to check out some others, go to Working For Our Future and you’ll findthree other great ones.
