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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.
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.
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.
You have just started your new money making online business. You, of course, are doing this working at home. Nothing to it, you think. If you’re lucky enough to have a room you can use as your office, all you have to do is shut the door and you’ll be able to work as long as you wish undisturbed. If like most of us, you have a corner someplace in your house for your office, it’s a bit more difficult, but you figure that you just tell everyone not to bother you and you’ll be fine. However, the reality may be something very different. Even having your office in a room where you can close the door, you find the distractions are frequent and often long. This is just your first problem.
Unfortunately, the distractions are not just from the outside of your office. Your money making online business is tied closely to the internet. Today, while checking your emails, you find a message from a friend, and, of course, you have to respond. And you must check your other emails. Some of that is business related, but a lot is not. That is more time spent away from money making online. And as yet, I have not mentioned surfing the internet. You start with the plan, let’s say, to check your key words on Google or to work on an ad you have on adwords or write a blog. The next thing that you know you are looking up all kinds of things that you are curious about. Does any of this sound familiar? If not, you are truly dedicated, but most of us find ourselves distracted from time too time by these things. So what can you do about it?
First of all don’t beat yourself up. Some breaks from the grind are necessary. But, you need to control them. Start by planning in advance what your work schedule will be. You can adjust it later, but have a planned work period. Then make a list of the activities you are planning to do at least in broad categories. As you go through this work period, note how much time you spend on each category, and if you get distracted, note what the distraction was and how much time you spent on it. Finally, consider how much in dollars each activity and distraction is worth to you. Once you’ve put a dollar value to your time, it will be easy to concentrate on the important money making activities, and reduce your time on the less important ones.
This will also help into step two, which is organizing your time based on the activities you find are the most important for making money online and worth the most to you. Notice we are talking about the most important activities, not maybe the most fun. Every business or job requires activities that we would rather put off or not do. If we could, we would pay someone else to do them. But even then, you cannot escape some jobs that you don’t like, which only you can do. And a money making online business is no different. So list your activities in order of importance to you so you can set your priorities.
The final step by now is obvious. At the end of each day spend fifteen minutes to prepare your work pan for the following day. Break it into Group A and Group B. Group A, which includes the most urgent money making online activities, must be completed before you start on Group B. This approach will save you time when you sit down at your desk the following day so you can dive right into the Group that needs first attention.
You probably will say that all this is just common sense, and you will be correct. But you need to identify the problem first before you can solve it. Then common sense can put you on your way.
Managing distraction does not make the days shorter, but it does make it possible to take control of your time. It will help you maximize your productivity and get the most out of your time; one of your most priceless and irreplaceable assets. And it certainly will help you to become more successfulon your new 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.
Why do you post on your money making blog in the first place? Maybe you just like to write. Maybe you have so much stuff in your head that you need to toss it out. Writing is obviously a good way to do that. But if you are like most of us, writing a post takes time away from other things that you would like to be doing to further your money making business so it can be a bit of an annoyance. You are working away on one of your other projects, and you think, “Nuts, I haven’t posted on my blog for a while, I’d better put something together and get it posted”.
So back to the original question. How often should you post on your blog? Obviously, there is no one answer nor one that is right for everyone. So let’s discuss the question.
The first extreme is to post rarely, let’s say once a month. My opinion is that posting once a month is probably on the edge. It is probably the least amount of posting you can get away with. If you are only posting once a month, your followers may well decide that you are not very interested in your blog and quit paying visits to it. That is one aspect. However, what is probably worse is that the search engines will draw the same inference and your blog may fall far down in the rankings. My conclusion is that you need to post more often.
The other extreme that I have heard, and I have one ebook author who recommends it is that you post several times a day. The theory is that it doesn’t matter much what you write (or how good it is), but the search engines will catch the activity and your blog will go to the top of the rankings. My problem is with the idea that what you write doesn’t matter. I do agree that you shouldn’t overwork the editing, but I believe you want your posts to be clearly written about an interesting topic with no misspelled words and reasonably good punctuation. At least I can’t write several articles a day that meet that requirement. So for me to write more than one post a day is a stretch.
So where do I come down. I believe that if you post at least every other day you will meet your goals reasonably well. You will have enough activity for the search engines to give you a reasonable ranking, and your followers will feel they can come to your blog a couple of times a week and find new content that they will appreciate.
So you need to make your own decision, but if you post every other day your blog will be a key element in your online money making business and successful.
By the way if you want to read more on starting your online money making business, sign up on the right and get my free ebook, Make A Million Online System. It explains in detail the above ideas plus gives you many more. And if you want to check out affiliate programs, go to my website, Working For Our Future, and you can get instant access to the latest and hotest affiliate program on the market.
I would think that everyone who is trying to set up his or her online money making business knows how to find a profitable product quickly and easily. However, I read something the other day, which made me wonder whether some people who are just getting involved in an online money making business might find some help useful.
What should you consider to be a profitable product?
You all know that to start you online money making business you need to set up a landing page. But for it to work you need a profitable product. Many people think that you define a profitable product by the size of the commission. Obviously, a large commission is nice, but it is not the most important aspect of the product. Far more important is the conversion rate of the product.
There are many products that convert well, but probably the quickest and easiest to find are affiliate products. And the quickest and easiest place to find affiliate products is www.clickbank.com. In the clickbank market place are listed ebooks, membership sites and video courses all for sale or set up for you to sell. If you are representing the product owner, each time you sell his product, your commission is automatically deposited into your account. Once you earn over $100, your earnings will be deposited into your own bank account twice a month.
Using Clickbank.
If you’re not registered for clickbank, you sign up at http://www.clickbank.com. The instructions are easy to follow, but be careful when you put in a nickname or ID. Once you have entered one, you cannot change it. It is probably better to have a nickname related to you own name. If you have one related to your niche, you may not be happy with it if you want to market in another niche, but you’d be stuck with it.
Search the marketplace.
Open the marketplace and search using your key word niche. This will bring up a list of products in that niche.
Look through the list for the products that have the highest popularity and gravity and pick out three of four. If you see a number of products in your niche this is good because it means that there is a demand for your niche.
Sort your list of products by popularity and gravity.
Obviously, the most popular are getting the most sales. Gravity is a calculation made by Clickbank which indicates which products are getting more sales by affiliates. In other words a high gravity means that a relatively high number of affiliates are having success selling that product. High gravity also means that a product has good momentum and converts well for affiliate traffic.
Ideally you want a product with both a high gravity and high popularity, but you want to make sure the gravity is at least 30. When it gets close to 100, it should be as close to a guarantee that it will sell well as you can get.
Note the % referred number.
The % referred number is the percentage of product sales which come from affiliates instead of direct sales. A high referred percentage usually means that you’ll have a better chance of making money with the product.
When you go through this exercise and end up with several products you want to promote, you then select one or two to start with in you campaign keeping the others in reserve for later. The important next step is to track the success of each of your products. You may want to alternate products and see which ones work the best. Also, you don’t want to fall in love with a product and hang on to it when it is no longer converting for you. It’s easy to do, but if you’re going to be successful in your online money making business, you need to actively test your products and only promote those that are really successful for you.
By the way if you want to read more on starting your online money making business, sign up on the right and get my free ebook, Make A Million Online System. It explains in detail the above ideas plus gives you many more. And if you want to check out affiliate programs, go to my website, Working For Our Future, and get into one of the three affiliate programs that I am promoting. And you’ll be off and running.
This post is kind of an add on to my previous three articles on viral techniques for your online money making business. This idea, however, takes a different slant. It starts with your buying or owning private label rights (PLR) to some kind of content. Usually, and maybe the easiest is to start with a private label rights ebook.
The idea is to repurpose the ebook. I’m not sure that repurpose is really a word, but the idea is to take the ebook, cut it up and issue it again in different ways to promote your online money making business. This can open up a bunch of new ways to make some money off of your private label rights content, and offer your expertise through several different mediums. This can also enhance your reputation as an expert along the way, without having to create anything.
Here are several ways to do this.
1. You can reproduce the PLR content as a Powerpoint Slide Video and upload it to YouTube. YouTube has become one of Marketer’s favorite sites to draw traffic to their websites. If you can attract the right audience using good keywords, you can draw substantial traffic to your website.
2. You can cut up the PLR into short YouTube tutorials. These also can elevate your name as an expert. The better you are known as an expert, the more people are willing to spend on your products.
3. You can breakdown your PLR into special reports. You can give them away, publish them as short articles and post them to your blog.
4. You can record audio of the PLR or even of the short articles you have broken out to it, and podcast them. Everyday it gets easier for people to obtain and listen to podcasts so it’s becoming the future wave for drawing traffic. Again people’s perception of your expertise will soar.
5. Another thing you can do with the short articles you have made from the original PLR is distribute them to other blogs as guest blogger. You need to find other blogs with high traffic and become a guest blogger. This is a great way to broaden the market’s perception of you as an expert.
The more PLR content you have, the more articles, mosts and comments you can develop and publish in the mediums discussed above. You need to be continually looking around for new ways to repurpose your content and spread it around in places that will attract traffic to your website. The more you spread your content around the better your online money making business will do.
By the way if you want to read more on starting your online money making business, sign up on the right and get my free ebook, Make A Million Online System. It explains in detail the above ideas plus gives you many more. And if you want to check out affiliate programs, go to my website, Working For Our Future, and get into one of the three affiliate programs that I am promoting. And you’ll be off and running .
Viral marketing as a way to enhance your online money making business is hot these days. The way it spreads a marketing message can be very effective. The idea of Internet viral marketing is to have your marketing message spread like a virus, as the name implies.
There are many well-known ways of creating a buzz through Internet viral marketing. One can utilize site links, referral programs and other viral marketing techniques to reach his target audience. It a great idea to start your online marketing business with the viral marketing concept in mind. To do this you need to use the right techniques. This article is part two of three articles on some of the viral marketing techniques that are available on the Internet. Stay tuned to get my list of viral techniques, which by the way is not complete. Every day new viral techniques are found so no list will ever be complete.
Here is the second part of my list of viral techniques which can be effective in spreading a marketing message:
Offering free graphics, banners, templates
If one is involved in doing artwork, he can publicize his works and offer them to different people who might want to use them for their own purposes. Again, one must be creative in using media in marketing.
Offering free consultation
If one is a specialist in a certain area, he can offer free services for a certain period of time or for a certain topic and use this opportunity to relay his marketing message.
Offering specialized link directory
People are always looking for specialized link directories. This is connected to the problem of having too much information in the Internet. Sometimes, people just want to get information faster.
Free newsletter with bonuses
Newsletters can directly contain the marketing message that one would want to convey, but of course, people should have some incentive to look at the newsletters.
Free redirect service
Linking with other websites can be used as a viral marketing tool. There are many people who are doing this right now.
Free screen savers
In using screen savers, one should have a general theme so that people can identify with them.
Tune in later this week for the final part of this series of viral marketing techniques you can use for your online money making business.
By the way if you want to read more on starting your online money making business, sign up on the right and get my free ebook, Make A Million Online System. It explains in detail the above ideas plus gives you many more. And if you want to check out affiliate programs, go to my website, Working For Our Future, and get into one of the three affiliate programs that I am promoting. And you’ll be off and running .
