To Make Money Online – Picking Your Market
Most people starting out to make money online end up gravitating towards something called affiliate marketing. To define it simply it is promoting somebody else's product for a cut of the profits.
It's not hard to understand the idea. It's like being a salesman. You do not have to create the product. You just sell it. And Internet Affiliate Marketing has some serious advantages that make it an attractive business model for many people. who are starting out to try and make money online.
o It's a quick way to get started. All you need is a product to promote, a very simple website, and a way to drive traffic to whatever it's you're trying to promote.
o It costs next to nothing to get started. If you're really in a financial pinch, you can start with little or no investment. There's no other money making online or offline business that I know of where you can do that.
o The potential rewards are huge. Successful affiliate marketers can rake in millions of dollars in passive income every year.
With that introduction you might think I'm going to recommend that you start your money making online business as an affiliate marketer. But I'm not. Instead, I'm going to recommend that you start with selling various types of reprint rights products. You'll typically see three flavors.
o Resale Rights (RR). These products give you the right to resell them as is. You can not change them, or put your name on them as the author but you can sell them all day long.
o Master Resale Rights (MRR). These products are like RR Products, but you get to pass along the resale rights when you sell them.
o Private Label Rights (PLR). These products let you pretty much edit and change them in any way you want according to the specific terms of you contract, and usually permit you to put your name on the product as the creator or author.
You buy all of these products outright, meaning you purchase whatever flavor of reprint rights a product carries with it.
A natural question is which type of reprint rights product should you buy and market? Obviously, all three types can be profitable. In all cases all of the profit is yours. Private label rights give you the most control because you can edit, revise and change the product as you wish. You even become the author. These products also tend to be more expensive.
You can not change either of the other products so you can not personalize these products. However, in the case of Master Resale Rights you can pass along the resale rights to your customers.
In summary the big benefits of just about any reprint rights product for your making money online business are these:
1. You have a product to sell with only a fraction of the work it takes to create a product of your own.
2. You control 100% of the profits.
That's a very powerful combination. And with Private Label Rights you have your own product without doing nearly as much work as you would have to do to create one from scratch.
That's fine, but why would I recommend that you start your online money making business with preprint resale rights instead of affiliate marketing?
Affiliate marketing is a fantastic way to make money online. But it's also a bit of a shortcut. Affiliate marketing is a great way to make money quickly, but it also can paint you into a kind of corner. You may not find a product you like. You may find a terrific affiliate program and then it goes belly up, and you have to start over. It's a one time thing. Your customer has bought somebody else's product through you, but now he does not need you any more.
Both reprint rights marketing and affiliate marketing let you start selling quickly without doing anything or at least not very much to create a product. Both are very inexpensive to start up and have solid income potential.
However, in reprint rights marketing you have control over your product, you're building your own business with your own brand, and you control how you treat your customers.
On the negative side of reprint rights marketing you have to find and buy a product, and it takes more work to get started. In affiliate marketing you have the risk that your product could disappear.
So with reprint rights marketing your risk goes down and your control goes up. You are also building your own business based on your own brand. That is a critical difference.
And the things about a reprint rights marketing business that might look negative like buying your own product or doing more work to get started are not really that bad. But even more important than those things is the fact that a reprint rights marketing business focuses you on the right mind set. Let me explain what I mean.
Most people just starting out to make money online want to make money fast, and that pushes them in a particular direction. I've seen it over and over again. People starting out are usually just looking for ways to make money online, not a long term business.
That is why affiliate marketing looks so appealing. I'm sure you've seen statements like this on sales pages that recommend affiliate marketing related courses on products.
"Affiliate marketing is one of the fastest and easiest ways to make money on line.
That is absolutely true. I've even said it myself. But it's only part of the story. The rest of the story is that you're going to end up wanting your own product and more importantly, your own brand to put on that product and your own online money making business under your control.
Affiliate marketing does not give you those things.
It is much smarter to start by focusing on growing your own business and brand and use affiliate marketing as part of your overall strategy to make money online while you are doing that. It has three big advantages.
1. It is still reliably easy and inexpensive to set up, and you can make money with it quickly. 2. It gets you started on growing your business and brand. 3. The income potential is still huge.
In short the correct making money online mindset is this.
You should focus on growing your own brand and business online, while you achieve a consistently positive cash flow quickly.