6 Legit Ways To Make Money And Passive Income Online – Business strategy 2019

– [Idea Man] Hi, this is Idea Man. Today I’m going to share a few of the legit ways to make money online. In the next few minutes, you
will have a fair understanding of the few mainstream
ideas to make money online, the good’s and the bad’s of each of them. Therefore to save your time
and money on each of these. Again, all these experiences
from the past few month’s and paid a lot of trusion fees. Hopefully it will helps you in a big way. In the beginning, I was only looking for a source of passive income. Therefore, to compliments
my nine to five job and amazingly I found a few of them. The first way is called SMMA Agency, full name is Social
Media Marketing Agency, it is using the active
inter-marketing strategy, the so-called paid advertising. Quite frankly, it is very
similar to the old TV marketing by using technology to deliver
the product to the right group of people. Traditional TV advertisements will push the ads to everyone. It looks like very effective
because it can reach large number of people
but most of the time the audiences aren’t
very interested to the products in the ad. The ads itself can’t
reach its target audience. This kind of ads is, pretty much, useless. Furthermore, there are
less and less people watching TV these days. The return of the expensive
TV ads are getting lower and lower. Therefore, more and more
people using digital marketing strategy to achieve better results. The new paid advertisement
platform includes Facebook, YouTube, et cetera. By better understanding
the key target audience and push the right ads to the right people and therefore, increase
the ads conversion rate. The other way is called passive
advertisement or the SEO or called search engine optimization. Basically, the clients
found your products by searching the key words
and therefore the clients who found your services,
needs your service, and therefore you
deliver the right service to the right people. Platform can achieve
these includes YouTube, Instagram, and LinkedIn. It’s worth mentioning that
Facebook and Instagram works under the same
advertisement platform, which is called the Facebook ads. And the other site, YouTube
and Google search is with another camp with Google. Because there are a lot
of traditional business and offline business,
haven’t fully embraced online strategies yet, therefore there are still a lot of room to grow. But because the barrier of
entry is relatively low, therefore there are a lot of
people who would give it a go. However, even though it is easy to get in, but to be good at it is very hard. The hardest is to have the
positive return on investments. That is the return of
investment needs to be higher than the investments on ads. To achieve this, it
requires a lot of hard work. One thing to note is, apart
from the ads strategy, other skills like the sales
psychology, IT, visual arts, are also required. It is a field that looks
very easy but, in fact, full of challenge. The second way of making
money online is by selling info product or selling your
knowledge and make money by selling online courses. The good thing is it got
very high profit margin. Think about it, you design
a course yourself and, of course, it’s profit margin is 100%, the most important thing
is all of us have something that we are good at. Like myself, I’m good at
showing fresh graduates how to find jobs and teaching
people on investments. So, look like everyone can
set up their own course and business very easily. Like SMMA, selling info
products looks easy but, in fact, it is
very hard to be good at. Firstly, it requires good
understanding of sales psychology and a good sense to
act in front of camera. Good PPT skills is also important. In here, I have to mention, the godfather of turning knowledge into
product, Russell Brunson. Now worth more than 37 millions, he didn’t use any external funding, purely selling all kinds of
info products and courses, built the company from zero
to the size we are seeing now. I put a link of one of his best course, One Funnel Away Challenge,
in the description below. This challenge is about if one
day that you lost everything and you only have your laptop,
internet, and 30 days left, how can you resurrect from the ash? This course taught me the first
class product developments, marketing, IT skills,
and networking skill. Even though if I don’t be my
own business, this course still helps me a lot in my daily job and gains a lot more credibility. The third way of making
money online is by eCommerce. It includes drop-shipping
and making money on Amazon. What drop-shipping does is,
by making the sales first, and use the money from the
sales to purchase the product, and using the strong
logistic network to deliver the products to your clients. The good thing is you don’t
need a large amount of cash to generate huge amount of sales. The downside is it takes
a long time to delivery. A lot of the products
ship from China to US and European countries, could take
around two to three weeks, by that time the clients
may already feel annoyed or forgot about a product
and cause a lot of complaint. Therefore the tips to success
is selling the product that is hard to find on a normal store or the price is a lot lower than what you can buy on the street. Drop-shipping also
divides into high-ticket and low-ticket model. The difference is selling
high-ticket product, which is generally more than
$100, the profit you can make is a lot higher than selling
the low price products. Therefore, you can sell less
and less customer service but achieving similar
or a lot higher profit, these days drop-shipping also trying to find a local supplier. Therefore, the supplier
can deliver to the buyer in a lot shorter timeframe
and therefore improve customer service and getting
more returning customers. The second eCommerce model is by selling through Amazon platform. Generally needs to import
large amount of goods from China and ship to Amazon warehouse. Then use Amazons’ world-class
warehouse to fulfill the order and deliver to the customers. Amazon will deliver the product within US, normally it takes around two days. And Amazon’s flagship
service, Amazon Prime, gives a lot of credibility
to its customers. Therefore, it can sell large
volumes of products every day. Business model is also very mature, every year people who
make more than $100K US, is more than 30 million people. That is basically more than
a whole football stadium. The fourth way of making money online is affiliate marketing. This is using YouTube or blog
to introduce the products where people click on affiliate link, and purchase a product, the introducer can make a commission from the sale. Now the most popular
affiliate program including Amazon Associates and Click Bank. The good side of Amazon
Associate is you can sell the whole Amazon catalog,
the down side is its commission is lower than 10%. On the other hand, Click
Bank is selling info products or computer tools. Its commission is also a lot higher. In terms of product, the
hottest product is surrounding health, relationship, such as dating tips, and wealth, such as real estate,
stock markets, et cetera. The fifth is making
money by using Facebook or YouTube ads. For YouTube ads you need to
have 4,000 watching hours in the past 12 months and also
having at least 1,000 fans. Then you can join the
YouTube Partnership Program. YouTube push the ads based
on the nature of your channel but overall the contents
that is more likely to have profitable ads than the
ads revenue will be higher. The sixth way to make money
online is by accepting all kind of jobs online,
such as translating and virtual assistance, et cetera. However the probability of
making large amount of profit is low and the job flow
is not very stable, therefore, I won’t put
too much focus in here. Overall, a lot of people
may have a nine to five job, in the beginning, then
start to become a YouTuber selling affiliate products
and selling info products to make some passive income and after you have enough savings, then start to do drop-shipping,
and after you build up more capital, you can
start your Amazon business, and after you successfully
sell a few of the products you can have your own brand. At this point of time, a
lot of people may already able to quiet their nine to five jobs. Of course, a lot of people
may accumulate their wealth to real estate and stocks, and there is nothing wrong with that. This is my understanding of
how to make money online. Certainly, there are a lot more details on each of these methods
of making money online and I will share more details
in the videos going forward. Make sure you click on
the subscribe button and share your video to your friends, so it can helps a lot more people. Subscribe to Idea Man, learn a new way to make money every day and have more promise in life.

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