There are many ways to make money online. Gurus are always selling their own techniques. If you listen to one piece of advice you’ll go in one direction. If you listen to another you’ll do something different. And of course, each teaches that the other person is wrong. But there is one thing they all agree on. And one thing they all engage in.
If you want to create real income you need to start by creating your own online product.
Why do you need to go to all the effort involved in creating your own online product? Not just once but many, many times? That’s a heck of a lot of effort. So why?
There are a number of other ways to make money online. You can:
1. Sell physical products
2. Sell other peoples products as an affiliate.
3. Sell ClickBank products.
4. Sell advertising space.
And that’s just a few of the major methods.
So why would selling online products be so profitable in comparison?
Let’s start by examining the other methods. Selling advertising space is one way to make a few extra dollars. But to make real big money you need a great deal of traffic. And traffic of that magnitude is difficult to get and expensive to service.
So what about affiliate and ClickBank marketing? In both cases, you are getting paid for your own efforts. And that’s it. Effectively, you aren’t running a business you’re a commission salesperson. And you’re being paid like a commission salesclerk. You can’t leverage other people’s efforts. At least with affiliate marketing you are typically supporting a high ticket, high commission product. With ClickBank you’re not even selling that.
That leaves physical products. Typically physical products are other people’s products — you’re just the retailer. And like most retailers you get a portion of the sale — and only a portion. But even when the product is your own you’re faced with two problems. Fulfillment and shipping. You either need to pay someone to handle fulfillment for you. Or you’re going to have to take the time out of your own busy schedule. And the product still needs to be shipped. So the costs to you are very high.
Your own online products on the other hand don’t have these issues. Yes, you have to create them. But you control the process. In fact, that’s the byword for online products — control.
You control the marketing. So if you want to sell all by yourself you get to keep all the commissions.
On the other hand, if you want to sell through affiliates you determine how much commission you will pay them for sales. Not only that but you get to decide what constitutes a sale. And you get to leverage other people’s efforts to enhance your income.
Traffic also isn’t the issue that it is with advertising. Yes, you need to attract traffic but it’s a reasonable level not an extremely high level as it needs to be with advertising.
Online products don’t require any effort or cost for fulfillment. Basically you put the product up on the web, connect your sales process and you’re done. So shipping and handling costs are a thing of the past. And the occasional decision to create a physical product from an online product as a marketing shake ’em up. And unlike physical products there is very little cost involved in packaging or keeping an inventory.