It's true that there's a lot of money to be made online. At the same time, there are a lot of unscrupulous people selling scam business opportunities by hyping up, you guessed it, how much money you can make online.
So, how do you sort through which ideas are 'too good to be true' and which ones are worth pursuing, when even the legitimate biz opps sometimes rely on hype?
The answer is: you need to get clear on which criteria truly matter when it comes to the feasibility of any online money-making system. The list of questions below will help you evaluate your options effectively.
1. Does this business serve a real market?
2. Is the market highly targeted?
3. Will I sell/promote products that are truly in demand?
4. Is there a clear system of traffic generation?
5. Is there a clear system of lead generation and follow up?
6. How much power do I have over the way the business is run?
7. How much support is provided if I need help or have questions?
8. When, where and how will I get paid?
9. How will the products be delivered?
10. Does this really let me be my own boss and make the executive decisions?
If your answer is “no” or “I don't know” to any of the above questions, be very cautious. While there's still a chance you might be looking at legitimate opportunity, there's also a good chance you're looking at a scheme that isn't going to work for you.
Real Internet businesses follow the fundamental rules of marketing, have a clear sales system in place and allow you to grow your business based on your own judgment!
http://www.work-at-home-business-index.com/tw/index.php
Sunday, October 05, 2008
Friday, July 04, 2008
An Income-Building Affiliate Marketing Plan
In order to generate real wealth as an affiliate, you must implement an income-building affiliate marketing plan that focuses on the long-term.
There are three key areas one needs to examine in this regard:
1. Leverage
2. Recurring income
3. Duplication
Leverage
The first step in building income is always in making proper use of the power of leverage. Investing your time and money wisely can help improve your existing business, and potentially double or triple your current income.
For example, maybe you’ve always wanted to create a high-ticket ‘follow up’ product to offer to your list of existing customers because you can’t find any comparable affiliate programs for such a product in your market?
If you’ll leverage your existing profits, you can hire someone to create such a product for you, along with all of the products images and web site graphics you’ll need to set up your very own merchant site.
What this will do is give you a new potential stream of income. You continue to make commissions on the existing affiliate product, while also generating sales where you get to keep 100% of the profit.
Likewise, if you don’t want to sell the product, you can use it as “bonus bait” for your existing affiliate promotions!
Recurring Income
Recurring or ‘passive’ income is something you should consider adding to your long-term affiliate business strategy. Why is this a good income stream to add to your mix?
Essentially, recurring income is ‘easy money.’ You do ‘x’ amount of work just once to convert the customer, yet continue to earn a commission on that customer month after month.
Ideal sources of recurring income include subscription services and membership sites.
Duplication
Duplication is really about creating multiple streams of income by recreating your affiliate business model into new markets.
Let’s say you’ve developed a marketing system that is working like gangbuster for you already in one market. Why not set up a similar system in a new market? You’ve perfect your sales process, so it is really just a matter of replicating the structure of that existing business.
For example, if your unique spin is to write affiliate reviews of “cheap, but effective weight loss products,” for the weight loss market, you can replicate that approach by doing affiliate reviews of “cheap, but high quality digital cameras” or something along those lines.
Each of these approaches will help you, in a sense, “diversity your portfolio” of income-generating businesses. Leverage, recurring income and duplication are key to any affiliate marketing plan, so start putting them into action today!
Learn the basics of affiliate marketing today for free!
http://www.work-at-home-business-index.com/affiliatemarketing/index.html
There are three key areas one needs to examine in this regard:
1. Leverage
2. Recurring income
3. Duplication
Leverage
The first step in building income is always in making proper use of the power of leverage. Investing your time and money wisely can help improve your existing business, and potentially double or triple your current income.
For example, maybe you’ve always wanted to create a high-ticket ‘follow up’ product to offer to your list of existing customers because you can’t find any comparable affiliate programs for such a product in your market?
If you’ll leverage your existing profits, you can hire someone to create such a product for you, along with all of the products images and web site graphics you’ll need to set up your very own merchant site.
What this will do is give you a new potential stream of income. You continue to make commissions on the existing affiliate product, while also generating sales where you get to keep 100% of the profit.
Likewise, if you don’t want to sell the product, you can use it as “bonus bait” for your existing affiliate promotions!
Recurring Income
Recurring or ‘passive’ income is something you should consider adding to your long-term affiliate business strategy. Why is this a good income stream to add to your mix?
Essentially, recurring income is ‘easy money.’ You do ‘x’ amount of work just once to convert the customer, yet continue to earn a commission on that customer month after month.
Ideal sources of recurring income include subscription services and membership sites.
Duplication
Duplication is really about creating multiple streams of income by recreating your affiliate business model into new markets.
Let’s say you’ve developed a marketing system that is working like gangbuster for you already in one market. Why not set up a similar system in a new market? You’ve perfect your sales process, so it is really just a matter of replicating the structure of that existing business.
For example, if your unique spin is to write affiliate reviews of “cheap, but effective weight loss products,” for the weight loss market, you can replicate that approach by doing affiliate reviews of “cheap, but high quality digital cameras” or something along those lines.
Each of these approaches will help you, in a sense, “diversity your portfolio” of income-generating businesses. Leverage, recurring income and duplication are key to any affiliate marketing plan, so start putting them into action today!
Learn the basics of affiliate marketing today for free!
http://www.work-at-home-business-index.com/affiliatemarketing/index.html
Saturday, January 19, 2008
Forex Basics: An Exchange Rates Tutorial
Profits are gained and lost on the foreign exchange, or 'Forex', market due to fluctuations in the exchange rate. This fact may seem like common knowledge, but one should not take for granted how exchange rates are determined.
There is actually a very rich history behind the concept of the exchange rate, and it is important that you understand why things came to be as they are -- as well as how to capitalize on that knowledge.
This quick tutorial on exchange rates will help you do just that.
First, let us look at the simplest definition of an exchange rate. An exchange rate is the value of one currency in relation to another. If one U.S. dollar is worth $1.20 Canadian, then the exchange rate is 1:1.2, or 1.2 for the CAD/USD currency pair.
What does this really mean, though? Why is it that one currency can be worth more than another, and who decides?
If you look back to the earlier part of the 20th Century, you'll recall that most currencies of the world were back by precious metals, like silver and gold.
It used to be that the United States followed the 'gold standard', which 'pegged' the Dollar to the price of 1 ounce of gold. All other currencies were then 'pegged' to the Dollar and allowed to fluctuate in either direction by a margin of no more than 1 percent.
This type of exchange rate, although it allowed for minor fluctuation, was considered a “fixed exchange rate”.
Now, fast-forward to the latter half of the century, and you find that the 'gold standard' has been dropped, along with the fixed rate model of exchange. Instead, the foreign exchange market now operates primarily on a 'fluctuating exchange rate'.
Fluctuating exchange rates are governed by the market forces of supply and demand. If the demand for a currency exceeds the supply, then the exchange rate (and value) of that currency will rise.
Likewise, if the supply of a currency exceeds market demand, then the value of that currency (and its exchange rate) will drop.
We see this happening today with the U.S. Dollar. In order to keep up with government spending, the federal reserve prints more and more dollars, then sells them to other countries as 'debt'.
The market forces which previously gave the dollar its strength -- such as oil exports and oil transaction denominated in U.S. dollars - have eroded. Thus, we not only find the exchange rate of the dollar weakened, but also the exchange rates of many of our closest trading partners.
The Japanse Yen, for example, has fallen even more than the dollar. Part of this is due an overall crash in the Asian market, but it is also linked to the fact that much of Japan's economic growth at the end of the last century depended upon exports to the United States.
This is just one example of how market forces affect exchange rates, but it is a useful one for examining some of the factors involved in rate fluctuations.
If you would like a real world exchange rate tutorial, I recommend opening a demo trading account with an online broker. Do some test trades to get a feel for things, and make note of current exchange rates.
Then, make sure you stay abreast of world and financial news, and see if you can spot the relationships between major announcements and rate fluctuations!
Pulling your hair out over 'Pip's, 'Points' and 'Pairs'? Relax! Forex trading is easier than you think -- once you understand what's really going on. Save what's left of your hair (and your sanity) when you download my FREE report:
http://www.work-at-home-business-index.com/forexnewbie/index.html
There is actually a very rich history behind the concept of the exchange rate, and it is important that you understand why things came to be as they are -- as well as how to capitalize on that knowledge.
This quick tutorial on exchange rates will help you do just that.
First, let us look at the simplest definition of an exchange rate. An exchange rate is the value of one currency in relation to another. If one U.S. dollar is worth $1.20 Canadian, then the exchange rate is 1:1.2, or 1.2 for the CAD/USD currency pair.
What does this really mean, though? Why is it that one currency can be worth more than another, and who decides?
If you look back to the earlier part of the 20th Century, you'll recall that most currencies of the world were back by precious metals, like silver and gold.
It used to be that the United States followed the 'gold standard', which 'pegged' the Dollar to the price of 1 ounce of gold. All other currencies were then 'pegged' to the Dollar and allowed to fluctuate in either direction by a margin of no more than 1 percent.
This type of exchange rate, although it allowed for minor fluctuation, was considered a “fixed exchange rate”.
Now, fast-forward to the latter half of the century, and you find that the 'gold standard' has been dropped, along with the fixed rate model of exchange. Instead, the foreign exchange market now operates primarily on a 'fluctuating exchange rate'.
Fluctuating exchange rates are governed by the market forces of supply and demand. If the demand for a currency exceeds the supply, then the exchange rate (and value) of that currency will rise.
Likewise, if the supply of a currency exceeds market demand, then the value of that currency (and its exchange rate) will drop.
We see this happening today with the U.S. Dollar. In order to keep up with government spending, the federal reserve prints more and more dollars, then sells them to other countries as 'debt'.
The market forces which previously gave the dollar its strength -- such as oil exports and oil transaction denominated in U.S. dollars - have eroded. Thus, we not only find the exchange rate of the dollar weakened, but also the exchange rates of many of our closest trading partners.
The Japanse Yen, for example, has fallen even more than the dollar. Part of this is due an overall crash in the Asian market, but it is also linked to the fact that much of Japan's economic growth at the end of the last century depended upon exports to the United States.
This is just one example of how market forces affect exchange rates, but it is a useful one for examining some of the factors involved in rate fluctuations.
If you would like a real world exchange rate tutorial, I recommend opening a demo trading account with an online broker. Do some test trades to get a feel for things, and make note of current exchange rates.
Then, make sure you stay abreast of world and financial news, and see if you can spot the relationships between major announcements and rate fluctuations!
Pulling your hair out over 'Pip's, 'Points' and 'Pairs'? Relax! Forex trading is easier than you think -- once you understand what's really going on. Save what's left of your hair (and your sanity) when you download my FREE report:
http://www.work-at-home-business-index.com/forexnewbie/index.html
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