Episode #51 – What would you do with your time if you didn’t have to go to work anymore?
That’s a great question, I know:)
And on today’s episode we talk about 7 legitimate ways to earn income working online without having to quit your day job just yet.
7 Legitimate Ways to Make Money Online
1. Affiliate Marketing.
Pros – Easy to get started and make money with out having to build your own website, sales funnel, and merchant account
Cons – No backend profits, only get paid 50% commissions
2. Network Marketing / MLM
Pros – Simple duplicatable system, able to earn large residual income over time, lots of training available.
Cons – 2-5 year plan, all your eggs are in one basket and if the company goes under so does your check.
3. Information Marketing (Digital products, CD’s, DVD’s, Workbooks)
Pros – High profit margins with digital products, no warehousing, no shipping, no inventory, instant download by your customers.
Cons – Must have expert specialized knowledge, and know how to write copy to sell it. Product launch model is broken.
4. E-Commerce (Physical Products)
Pros – Easy to make money quickly. No products to inventory. Ability to scale quickly.
Cons – Subject to Amazon’s listing algorithm.
5. Local Marketing
Pros – Consistent residual income.
Cons – Must be able to deliver results, back-end systems and fulfillment, client management.
6. Coaching / Consulting
Pros – High profit margins, easy to set up business, good way to increase profits.
Cons – Trading time for dollars. Always searching for new clients.
7. Workshops / Live Events
Pro – One to many model allows you to leverage your time. Able to pre-sell events to generate cash.
Con – Must love public speaking.
Resources mentioned on today’s show:
Sign up for the June 21st Matermind in Chicago, IL –> GabeStrom.com/mastermind
Apply for personal mentoring by clicking here –> GabeStrom.com/VIP