That was the thought that started my journey. My primary vocation has me trading my time for money, but that work-model doesn’t scale, as I’ve only got around 17 waking hours each day. I wanted to use the internet so that I could make money while sleeping. More sources of income are always better than fewer, and so I set out to start an online business in my spare time.
Most of what I’ve learned and share in my posts has come from the curriculum at The Six Figure Mentors and I invite everyone to reach out to me for help or with any questions. Their curriculum clearly lays out the steps to start a successful online business and how to start an online business in your spare time. You’ll have to juggle a few responsibilities at once, but can easily be making good money with visions of much more within four months.
It starts by educating yourself. I lost money or made very little for my first four years online, so don’t quit your day job right away. The real key is figuring out how to get in front of people who are looking for a specific product or service. How to get in front of them is really the most important part and internet service providers, Google, social media sites and email providers consistently change the rules to protect their users from spammers. That’s a good thing, but it means that you have to either keep up yourself or pay someone who’ll keep up for you and then share what they know. I stay enrolled in The Six Figure Mentor’s curriculum because that’s their specialty and their fee is an exceptional value.
The next part is figuring out what product or service to sell, assuming you don’t have one of your own. Even more important is the product funnel. I’ve drop-shipped various products since 2012, where I sell a garden hose filter for instance on Amazon. Drop-shipping is cool because I keep no inventory and then forward the Amazon order to the manufacturer, who then sends it out directly to my customer and I keep the difference between my wholesale cost and the retail price paid on Amazon. Amazon fees usually eat up most of my profit, so it’s really not a great way to make money, unless you’re selling high-ticket items.
It takes the same amount of effort to get a $1 product in front of someone that it does to get a high-ticket item in front of them. I’ve thus learned to sell only high-ticket products. Making $5 or $10 per transaction isn’t worth your time. Equally important is to represent a company that sells products or services that complement each other, generating repeat business from existing customers. The model works even better if the complementary products get more expensive and are paid for monthly or annually, on a subscription basis, so that you make money while sleeping! Creating a residual income stream is crucial.
I want to start an online business in my spare time now becomes, what product or service should I represent? What do I believe in? What do I know a lot about? What common problems have I solved? The best products are informational products, like newsletter subscriptions, access to information, and downloads of all kinds. The easiest way to get started is by viewing the same free, 7-day free training that got me started and then try The Six Figure Mentors for $29.95 that is refundable within the first thirty days. There are no contracts or commitments. Watch the 7-day free training, then take one month to see if their educational curriculum offers the superb value that I’ve told you it does.
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Matt T. Nathanson, CEO Island Time LLC. Leading Entrepreneurs to Lifestyle Freedom
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