The number of millionaire households in the United States and abroad will grow rapidly over the next decade. So how does the average.com entrepreneur get their piece of the pie?
It takes a lot of homework, but you can develop a solid plan to make money at home and live the.com lifestyle. Making a million dollars is one of the American dreams, but making a million dollars on the Internet, while working out your home is the ultimate aspiration.
While there is a ton of information online that spells out how to make money on the web, sifting through the good and not-so-good information can be a head-twisting experience – especially if you’re taking the plunge and building a web site or blog for the first time.
Tips for developing your ‘make a million dollars’ strategy:
1. Cater to high-growth, highly-profitable sectors.
Develop a quality list of the most profitable industries, then strategize on ways to develop a competitive edge and fill a need within these industries. While it may not be easy to get a job in the most profitable industries, it may be possible to sell your products or services to these industries. In this economy, you may be asking yourself if there is such as thing as a profitable, high-growth sector…well, there is.
Forbes magazine listed the top ten most profitable industries. Here they are: Investment and portfolio advisors, accounting and tax preparation, dental field, chiropractors and optometrists, legal services, technical and trade schools, physicians offices, outpatient care centers, educational support services, photographers and translators.
No, choosing to sell online isn’t rocket science but deciding WHAT to sell is. These industries are good candidates for growth in an otherwise nervous market. And with strong growth lies the need for products and services to meet their operational needs. Define the possible needs of each sector. What product and service can you develop to fill a need within these industries? There lies your answer for what type of online business to develop. Stop focusing on making money, and start focusing on providing value to industries that already have a lot of money. Offer something that people with money find valuable.
Looking at the ideas in your list, which one seems to have the best chance of resonating? Which ones are easier to execute? Which ones do you think have the highest chance of succeeding?
2. Develop business models that fit the same needs as highly-popular web sites.
Research the most popular web sites on the Internet. Understand what it is that people care about on the web, then develop a business model that fits the same needs. How do you find out what sites are popular on the web? The easiest way to do this is to use Alexa. With Alexa, you can learn which sites are popular on the web. So, for example, let’s say that you like the XYZ web site and you would like to create something similar to it. How do you know, ahead of time, if the XYZ site is popular or not? You use Alexa. Download the Alexa toolbar, which makes it fast and easy to check the rank of a web site. With Alexa analytics for competitive analysis, benchmarking, market research, or business development is more thorough and effective.
Fortunately, with the Internet, anyone of any class can achieve financial success with little investment. The information is readily available. All it takes is patience and determination. There will never be a more level playing field for people to change their financial situation. But buying an eBook or an info product will not magically do it for you. You must research and develop a plan of action that fits the need of successful businesses in today’s economy.
3. Identify trends and concentrate on those trends.
A growing number of Americans are achieving millionaire status by identifying trends and then waiting for the right time. When the time is right, these people make an investment, develop a web site, or write articles that focus on the trend. Google Trends is a valuable moneymaking tool. If you strive to make money via the Google AdSense affiliate program, then Google Trends should definitely be on your list of bookmarks. This application provides detailed information about search terms and web sites that allow you to determine which will be the most profitable keywords to use in the articles you write. Google Trends offers constantly updated data in real-time. This service provided by Google seeks to track user interest in common search terms.
4. Use social media to your advantage.
Getting great social media advice can be tricky – everyone seems to have an opinion on the do’s and dont’s of properly navigating the choppy waters of social media networks like Twitter and Facebook. The key to social is “actually listening and not waiting to talk”. Many people use Twitter as a megaphone and instead, we recommend using Twitter to answer questions. Fish where the fish are-instead of only creating a site and then expecting people go to your site, go to social networks and create a page or profile, then funnel visitors through these networks to your web site.
5. Become an affiliate of eBay partner network.
By utilizing trusted partner networks, you can monetize the traffic on your web site and make it work for you. You can earn a lot of money in the eBay Partner Network (also referred to as EPN) by driving high quality traffic to eBay. Many bloggers have reported that by utilizing eBay’s partner network, the income generated from their blog was twenty-two times more than by using Google AdSense!
Other affiliate programs can make you a lot of money, but you need to face a few truths about internet marketing: there are two big players and eBay is one of them. By associating yourself with eBay’s EPN you are improving your earning potential and increasing your visibility. Remember, making money from your web sites is the goal!
The eBay Partner Network is the most profitable affiliate program available, but also the hardest to qualify for. eBay is very secretive about the qualifications that they are looking for in affiliates, but by offering a quality, highly-targeted niche site, you have a higher chance of getting your application accepted. It may take 2-4 times to get into the program, so if your application is denied, try again.
After you get into EPN you can either add PHPBAY Software to your site, and in just a few minutes you will have eBay auctions ready to make you money. Or you can just start building EPN niche sites and use your sites to send traffic directly to eBay, which will in-turn, generate you money.
Build a web site or blog to get started.
There’s all kinds of stuff for sale on the world wide web – everything from services to information to products like shoes, books, jewelry – you name it. So, if you have a dream of making money online and living the.com lifestyle, you better get your web site online and start generating traffic. The most tried and true method of doing this is by writing high-quality, original content in the form of articles. After posting those articles on your web site or blog, we recommend that you post your articles on EzineArticles.com or Articlebase.com and be sure to include a link to your web site or blog within your articles. In time, you will generate quality, one-way links to your site and because your site offers value to your visitors, your visitors will return again and again.
It’s NOT as easy as it looks…but it is possible. Choose a quality web hosting provider. With each web site you setup, you are building a valuable piece of Internet real estate that can generate income. All the work and energy that you put into your web site or blog adds up to value – goodwill value for your new web site visitors. And when you stop to think about why you are busting your butt to build this web site or blog.
…well, it’s because you are a.com entrepreneur.
Oh, and don’t forget-go green with green hosting.