7 Legitimate Ways to Make Money Online

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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

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