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Buying and Reselling/Ebay Drop-shipping E-trading MLM (Multilevel Marketing) and Direct Selling Affiliate/Referral Programs “Out of the box” 1. E-bay Selling - Buying and selling products is one the most common ways of making money online. It can be very profitable if you find, make or channel a product that is in demand for example: e-books/information, electronics, furniture, office supplies, apparel, etc. The key is to out-think the competition, since the creation of the Ebay phenomenon thousands of sellers have monetized on the opportunity. It’s important to find a product that you’re familiar with in order to be an effective seller; for example, don’t sell computers if you don’t know what “processor speed” is, you’ll just set yourself up for failure. If your having trouble finding a product try going to WWB, they offer products as well as information/ tools on how to find niche products and sell them on Ebay. You can also go to the Ebaystore to set up an inexpensive storefront if you don’t want to build your own. Drawbacks to Ebay selling are: Finding/making a profitable product Can be time consuming (Plan to spend 20-30 hrs/week) Very competitive market 2. Drop-ship- Drop-shipping is very similar- however the advantage to drop-shipping is that you don’t have to worry about moving the products yourself. With drop-shipping you’re really working as a third party in the sense that you find vendor’s who’ll drop-ship, and when you make a sale, they deliver the products directly to the customer for you-thus, no inventory or overhead costs? It can also save you the money and hassle of running to UPS every month to send/receive shipments. Another perk is that you don’t have to buy the product before you sell it! You simply take the order and give it to the manufacturer for shipping, and you receive a check, without having bought a thing. I know I make this sound pretty easy but in fact it takes an adequate amount of information gathering in order find hot products. The first thing you will need to obtain is a drop-ship directory in order to find vendors who drop-ship, it will cost you anywhere from $55-85, but the money you spend will more than pay you back in safety and time. The only source I recommend for directories is WorldWide again because their the only vendor directory provider that’s Ebay certified-there’s a lot of fakes out their posing as drop-ship providers who are really just “middlemen” trying to collect a commission. Drawbacks to drop-shipping are: It can be extremely time-consuming finding reputable vendors with profitable products that will work with drop-shippers. Backorders and returns can be a headache if you’re with a bad vendor. 3. MLM and Direct Selling business opportunities in my opinion are the most misrepresented and underestimated income opportunities on the web. Most of this is due to false and misleading claims about products/services and income potential made by shady distributors and sales associates. Multi-Level Marketing or (MLM) companies are organizations that provide a product or service and market it by “word of mouth” advertising or paying independent distributors to sell the products as oppose to paid advertising i.e., radio, TV, newspaper. These distributors sell the products and receive commissions; however the majority of the money is made by “referring” or bringing in more distributors, who then bring in more distributors, and so on. The key to these businesses is to find established and legit companies with good commission structures and not spend time and money on small, “fly by night” corporations. Direct Selling is really in essence MLM (even though they try hard to distinguish themselves) except the products that are usually sold are “higher ticket” or more expensive products. Direct selling allows you to make more money with fewer recruits because you have higher commissions. Both of these opportunities are for people who desire and motivation to “run their own business”, because once you recruit people in under you, you have to teach them how to do the same, it’s called the process of “duplication” which involves duplicating the work habits of successful individuals and teaching others to do the same. Income is unlimited and residual, so even when you retire from the business (realistically anywhere from 2-4 years) you’ll still receive checks! An initial investment is required for both opportunities in order to purchase the products and/or start-up kit so if your not looking to invest anywhere between $50-250 for an MLM or at least $500-2k for Direct Selling maybe these businesses aren’t for you. Drawbacks: With so many un-established companies on the internet its hard to discern what companies are paying real people real money, so do your research before pulling out your credit card. There is a high drop out rate in MLM’s due to lack of adequate training from the recruiter/upline and or motivation on the recruits part, so choose your upline carefully because some members will recruit you then leave you on the corner. Direct selling is bit more challenging due to the type of products/services being offered. It’s more challenging to sell due to the fact that a lot of people who are looking for a business are doing so because cash is tight, so most of them don’t have a grand to invest in order to start (believe me I know). 4. Last but not least we have Affiliate programs. Affiliate programs are perfect for people who don’t want to sell their own product, don’t want to talk to people on the phone or in person, and/or don’t want to spend a lot of money. An affiliate is someone who advertises a company’s services/products on their site by placing banners/ads of the company’s site on their website. When the organization makes a sale from your website link, and in some cases even a referral from the affiliate’s site, the affiliate receives a commission. Affiliate marketing is inexpensive to start because 99% of the companies don’t charge you to become an affiliate, and why should they? I mean after all you’re bringing them visitors, which turns into more sales revenue. You don’t have to have your own site to be an affiliate, but it is necessary if you’re looking to attract more visitors and make more money. The key is joining a good handful of affiliate programs so that you can create multiple streams of income, that’s how top affiliates earn thousands/week. Drawbacks: It can be challenging finding quality affiliate programs to join. Many companies claim to “have the best” program. If you don’t have traffic, what’s the point? It’s better if you actually KNOW HOW to bring traffic to websites. Many affiliates make money due to the fact that they don’t know how to market their programs. But I do suggest one of the top money making online programs that is launching Dec. 15th 2009 by Chris Cobb. It is a wonderdful blueprint from a guy who has made over $1.5 million in past 2 yrs. Visit http://www.aisblueprint.com .. OMG
Article Source: http://www.BharatBhasha.com Article Url: http://www.bharatbhasha.com/internet-and-computers.php/198981 Article Added on Wednesday, December 23, 2009 LD | |||||||
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