In today’s video, I discuss the four primary methods for making money at home.
As I explain in the video, while there are four ways to make money, high ticket affiliate marketing and selling your own products are your best bets.
Enjoy the video.
If you are thinking of starting an online business, you should consider hiring a marketing coach – you can see my video about the importance of hiring a coach here.
Hope you get lots of value and also feel free to check it out on YouTube here as well.
Enjoy and please share and comment!
Welcome to today’s episode of Nick Pratt TV, and today I’ve got an interesting one for you about 4 specific online marketing ventures, you could call them internet marketing jobs, even if they aren’t really jobs, they’re ventures.
I want to talk about 4 different methods of making money online, and if you should go with those specific methods or not.
The reason I have decided to do this is because I have people say to me all the time that they want to make money online, and they ask “how exactly do I do that?” Normally, I say something which I consider rational, which is that you actually need to be selling something of your own, or something that someone else has created and that you’re getting compensated for, like an affiliate commission or drop shipping.
Sometimes when I tell people that, they are shocked to learn that they actually have to sell something online. Understand that everything in life relating to business is a transaction. Someone hands money over in return for something. It all revolves around a product or service, of course it does. People are still surprised though, as if there is some sort of magical force that generates money.
I will go through four specific areas. I don’t particularly recommend the first two however.
Method 1: Drop Shipping
What is drop shipping? It’s basically you being the middle man between a wholesaler and it being delivered to the customer. To give you an example, a lot of people who are doing drop shipping, also known as retail arbitrage, they’re selling things on eBay that they don’t actually own, and when the sale is made, they are fulfilling it on somewhere like Amazon, and having it delivered directly to the person who bought it on eBay. This method may sound good to you, because you can make some profits from it, and you can make some money through drop shipping. The thing is it’s, as someone like myself who has done it, it’s quite soul-destroying. What I mean is it’s not really something to get excited about, it’s also heavily competitive, and it’s quite difficult to make a lot of money with it.
Of course you can make money with it, I’m just saying it’s not the most exciting thing to do. Essentially, you’re listing hundreds of products on eBay, and then ordering them off Amazon. It’s also border-line legal. It’s legal, but it’s not really in the spirit of the terms and conditions of Amazon, and it’s not something I recommend doing. That’s why it’s also known as retail arbitrage. It’s not the best way to make money.
Method 2: Traditional Affiliate Marketing
This is when you get commissions from selling things on places like Click Bank, Commission Junction, places like that. These are generally affiliate marketing courses, but they can be physical products as well. You can also promote Amazon products as an affiliate, and you can gain really low commissions, something like 10-20%.
I don’t recommend doing traditional affiliate marketing either, or at least not as your primary core business. The reason I don’t recommend it is that you’re not getting paid enough. I am going to talk a lot more about this in future videos, but I don’t recommend small scale affiliate marketing. This is really more of something to have on the side.
Method 3: Info Marketing
This is selling your own products, and I highly recommend doing this. If you’ve got value in some kind of area, like if you’re good at Facebook marketing, or fantastic at cake decorating, whatever. Release a product, find a hungry market for that product, and sell it. This is something I do, and I recommend it.
Method 4: High Ticket Marketing Affiliate
This is like traditional affiliate marketing, but you gain much higher commissions. For example, I sell a lot of high end things, high quality things, in terms of coaching and things like that. This is high ticket affiliate marketing business opportunity, because the value of the items is higher, and you can also build a team. If you want more information about that, go to NickPratt.tv/System for more information on that.
High Ticket Affiliate Marketing is something I highly recommend.
I will absolutely make more videos about this in the future, but this is just a quick guide to some methods that I have seen success with.