How To Make Truly Insane Money On The Internet
February 13th, 2008 by CourtWhere The Big Money Is In Internet Marketing
When people think of internet marketing, they immediately think of products that are bought and sold online. People all over the place are sitting around wondering how they can make money on the internet, but wrongly believe that they must sell a product in order to make it happen. People that have looked deeper into marketing online will usually discover another method for creating income, which is the advertising-based model that most bloggers use.
While selling products and advertising are very legitimate methods for creating an income with the internet, most people don’t even consider a much more effective method for making money on the internet, which is by selling their own services.
By taking a look at my group of friends, I can see numerous possibilities for the creation of CRAZY-FREAKING-INSANE money using the internet. Here are some of the professions of close friends of mine, each of which could be turned into huge online incomes:
- Stock Brokerage / Financial Planning
- Commercial Real Estate
- Residential Real Estate
- Personal Fitness Training
- Life Coaching
- Internet Marketing Consultancy
- Mortgage Lending
- Pest Control Sales
- Venture Capital
- Small Business Lending
- Small Business Consultancy
- Business and Personal Tax Relief
- Accounting
- Computer Repairs
- Copy Writing
- Email Marketing
- Affiliate Marketing
Now simple math will tell you that if you are selling DVD players and are making $5 for each one you sell, it will take 200 sales to make $1000 of profit. If you are a person that people trust for information on mortgage loans, how much do you think you would be able to make if someone used you to select a mortgage loan? How does $2000-$5000 per loan sound? How ridiculous does that money get if 10 or 20 deals are done every month? This isn’t outside the realm of possibility for any normally intelligent person!
If I didn’t have a plan for my own retirement already, I would get a job as a loan officer and start a flagship blog at the same time. Within two years I would make sure that I knew more than anyone else about loans and would be making crazy money by helping people to find the loans that would work out the best for them. Every single one of you could start a site like this with enough self-belief and determination.
Almost every service and brokerage industry could translate into crazy online money, here are a few examples from the above professions:
- Stock Brokerage - Billions of dollars are invested every day into the stock market and into other global markets. An expert who establishes himself online will have access to millions of people who invest money. This opens up the doors for brokerage, managed accounts, and even personal mutual funds and/or hedge funds.
- Real Estate - I would choose the investment real estate approach here because that would open up the doors to finding clients from all over the world. People invest in real estate in outside states and countries all the time and literally hundreds of billions are invested in real estate every year.
- Pest Control Sales - I spent a summer of my life selling pest control door-to-door and let me tell you that it was a crazy experience. Did you know that hundreds of thousands of homes in the U.S. are paying over $600 per year for preventive pest control? Pest control companies will pay in excess of $500 per sale to get this type of service contract.
- Business and Personal Tax Relief - People and companies spend insane amounts of money on taxes and are often looking for tax advice. This opens the door for selling all kinds of high paying services including insurance and investment packages.
The possibilities for the selling of personal services and products are truly endless. There is content writing/creating, investing, decorating, tax relief/filing, accounting, life coaching, business lending, crafting, fitness, motivation mentoring, search engine optimization, pay-per-click management, legal help, stock market investing, stock market education, computer education, programming, graphic design, business consulting, entrepreneurship coaching, personal development coaching, and literally hundreds of other services that could be offered to a group of people that read your flagship blog.
A short 40 years ago, the creation of a global business cost millions of dollars. Billion-dollar companies were the only ones that could afford to take advantage of world-wide trade. Today you can start a global business for the cost of a domain name and web hosting which is now ridiculously affordable. It has never been cheaper and easier to gain a world-wide audience.
Please Don’t Sell Yourself Short
Most of the people I talk to about internet marketing have a ‘dream‘ of someday making $3000 per month or so from their blog. I’m truly sorry if this offends anyone but this kind of thinking won’t get you anywhere. There are 10,000 different ways that people everywhere can establish six and seven figure annual incomes with the right approach and some dedication. There are now over 6.5 billion people in the world, 1.3 billion of which access the internet regularly. That is a huge group of people and that makes for a truly remarkable amount of money that changes hands online.
Developing Service Blogs That Last
In order to create a service blog that lasts, you will need to abide by one principle and one principle alone: help people. If you write content that helps people, your site will make it. If you engage only in transactions that benefit both you and your client, your site will make it. There are a lot of different aspects of starting a blog, but if you believe in yourself and keep the welfare of others in mind, you will be able to make truly insane money on the internet.
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February 13th, 2008 at 3:50 pm
How To Make Truly Insane Money On The Internet
This post is one that I’ve been thinking about for a really long time. In order or make a truly remarkable amount of money on the internet, your monetization will likely need to be very different from what you currently believe it should be. I hope th…
February 13th, 2008 at 4:09 pm
I think it’s really hard for some people to think outside the box. For some people the internet is almost an entirely separate “world” and they don’t know if they can or should have that world cross over into the world they actually “live” in.
I think for some it’s the ability to remain behind a computer that draws them to the internet and they don’t want to actually take a real world application and apply the internet to it so instead they try to figure out ways to make money on the internet using the same old “internet” methods…if that makes any sense.
February 13th, 2008 at 4:16 pm
I can definitely understand that Jason. The funny thing is that if people are smart, they don’t have to do any of the legwork at all and they can still sit behind their computer and make crazy money.
February 13th, 2008 at 4:14 pm
Great article, I only wish that there were ways to make passive income that didn’t require a ton of work.
Got any get super rich quick schemes in your bag of tricks?
I’m kidding of course, I realize everything takes a lot of work, patience and time to make any money at, unfortunately.
February 13th, 2008 at 4:34 pm
Yeah you could rob banks.
Relatively Dustin I’m not sure it’s as much work as people think though. I don’t really think that a few years of work is that much to trade for financial independence.
February 13th, 2008 at 8:20 pm
Would you mind being my getaway driver?
I agree, I’m definitely working towards it. It takes so much effort at times that you really have to keep yourself motivated by looking at the long term rewards for the short term sweat, blood and tears.
February 13th, 2008 at 4:35 pm
The main problem I had with this approach in the programming arena was getting paid. In spite of competition from India and elsewhere I was able to get plenty of good paying contract jobs. Getting paid was often a different matter. I recommend either having deep pockets or a good legal club to swing at slow/no payers before going this route.
February 13th, 2008 at 4:59 pm
Hey Frank! Thanks for your input on this.
In the case of programming, I would work towards developing a strong brand and then I wouldn’t take any jobs without getting at least 50% of the money up front.
My work is done in an industry where people pay after the job is complete - I, however, charge 100% up front.
February 14th, 2008 at 1:53 am
In addition to Court’s 50% down suggestion, a contract with specified payment terms and interest for late payments along with a good sized stack of lawyer-letters about payment is helpful. Amusingly enough, my dad complains in his business that lawyers are actually some of the bigger deadbeats he deals with.
February 13th, 2008 at 6:03 pm
It’s always good to get a different POV. Really opens your eyes when folks show you the light.
February 13th, 2008 at 8:21 pm
Well, you’re really helping me, and I hope you are profiting from me reading your blog. I am starting a blog to snipe a keyword with your advice and details, and when I make money, I will definitely have to donate some to you for your awesome help!
February 13th, 2008 at 8:46 pm
Good for you for stretching people’s mindset Court. So many bloggers have a begger’s mentality. “If I could make a thousand bucks a month online it would change everything for me.”
Well, yeah, it would. But you will smash $1000 per month on your way to $10,000 per month if you just set your sights a little higher!
Think big, and then do the work to make your huge dreams come true.
February 13th, 2008 at 10:45 pm
Great post. Would you mind doing a case study on someone who is using the internet to make bank with their real world job. I’m specifically interested in real estate agents but whatever would be cool. Keep up the great work!
February 13th, 2008 at 11:35 pm
Also, for someone with substantial internet marketing experience, what do you think the income potential is for an seo consultancy? Is there room for another seo/design company?
February 14th, 2008 at 1:15 am
Let’s see: real estate - loans - marketing. Aren’t these niches just a wee tad oversaturated? I was half expecting you to recommend we become distributors of Viagra too.
Computer Repairs sounds promising though.
February 14th, 2008 at 8:25 pm
“The market is too saturated” is a classic excuse in American business. If you’re willing to do the work you can still make a fortune in those arenas.
Saturation is a sign of one thing - huge potential profits. Not for the feint of heart though.
Those of you wanting to stick with making a few hundred bucks a month online should just follow Court’s sniping advice.
Those of you wanting to make a full time income or more should get ready for a fight. The competition will be tough, but the payoff will be worth it.
February 14th, 2008 at 7:27 am
You’re right.
The best way to make money is to provide value with the intent of “helping” some one.
Simply slapping up a Wordpress blog and filling it with adsense is something the world can do without.
Patrick
February 14th, 2008 at 7:58 am
There is still plenty of opportunity to establish flagship blogs. But you need to act soon.
February 14th, 2008 at 9:30 am
As always, a fantastic article Courtney! I have one thing to add: it helps, before you begin (and even after you begin) to routinely read other blogs that are on the same subject as yours. See what kind of advice people are giving. Try to make sure that your writing style and your advice is as unique as possible. Obviously, if there is on a couple of right answers, your answers will be the same as someone elses.
The trick is to ensure that you communicate those answers differently than anyone else. Make your advice memorable, and the people will come to you.
http://www.livingwithanerd.com
February 14th, 2008 at 12:50 pm
Good post Court and as usual, you’re right on the money. I just wish you would keep these secrets to yourself!
In 2001 I started a service company. I looked at my competition’s websites, those who had one, and realized I could blow them away. Most were canned sites or made with cheesy hosting account software.
As more and more people move away from Phone books and Newspapers, these niches are going to go nowhere but up.
@ Lincoln,
Sure, these niches Court talk about are saturated. But 95% of these markets are saturated by bozo’s who don’t know how to market their services nor build good websites…kinda like the “make money online” niche.
Don
February 14th, 2008 at 6:03 pm
Thank you for this post. I read a lot of blogs everyday and yours is one that actually gives information that I can use instead of the same old hype and trying to sell me something.You are on the top of my list.
February 15th, 2008 at 8:02 am
Continuing the tutorial, I can now see where this is beginning to lead your readers.
Thanks. These posts are really useful.
February 15th, 2008 at 9:48 am
The problem with making money with a flagship is really to invest time and effort into it.
I think that you could probably make money in every niche you could think of.
You just need to find advertisers for your blog/site. Advertisers in my city (18.000 inhabitants) are willing to pay a lot of money for a small banner on the homepage of my site.
The problem is that you need to convince them!
February 16th, 2008 at 6:01 pm
Nice article. Great ideas.
February 17th, 2008 at 11:16 am
I wish I could find something I was specifically good at… jack of all trades, master of none….
February 18th, 2008 at 10:21 pm
thanks , its a very useful post you got there