How Not to Make Money Online
While I don’t claim to know all when it comes to making money online,I think I know a little when it comes to how not to make money online based on my personal experience and that of some people I have met. I know this post will raise some sort of controversy but I just want to bare my personal thoughts on this subject…no harm intended.Okay,so,I start of with:
1.Surveys.For me,it’s a pure waste of your precious time to involve yourself in surveys.Why? Most survey programs don’t accept Nigerians. Even if you use a foreign address,most times,they end up tracing where you are browsing from through your IP. And for most Survey programs,you need paypal to collect your earnings and Nigerians are not allowed to use paypal and off you go to get a virtual address with which you open a paypal but I honestly won’t advise you to open a paypal because I have been a witness to too many paypal horror stories. Forget all those adverts about verifying your paypal account as a Nigerian. One day,paypal will request for proof of your residence.Pray,how do you prove an address in which you neither reside nor work? God help you if you have a substantial sum of money in your account as it will become history from that point.
2.Paid-to-read-emails.They promise to pay you to read emails.The moment you sign up for one,they flood your email with so many mails that most times,you end up abandoning that particular email to open another one. For me,it’s another time waster as some of them allegedly pay only after you have earned a huge sum of money reading mails.Why don’t you pay me if I earn $50 or less? Why must I make $100,000 to be paid.These are all elements of this business which I honestly don’t understand.If I run my adsense program,I know I will get paid at the end of the month if I make $100.That is acceptable by me.
3.Data Entry. Their own promise is,fill some forms and we will pay you.Enter data for us and you will be paid.Most of them request you to pay to join.I know one of such sites that you pay to $49 to join and when you login as a member,you are requested to buy a book that will help you understand data entry business for $40.God help you if you are not able to cope with the business.Your initial investment will go down the drain.
4.HYIP-High Yield Investment programs.They request you invest some money and then you will be getting some yield weekly or monthly as the case may be.Most of these programs deliver initially but as time goes by,the site disappears from the net and if you invested a lot of money,you are left to lick your wounds.Formerly,e-gold was their currency of choice but liberty reserve seems to have taken over now.
My greatest grouse with all the above-mentioned online business models is that they are active income earners.Now,I want to focus on building passive income. That is why you see me writning books.My books will bring me royalty many years to come. So,what are the ways you can also earn passive income online?
1. Affiliate Programs. With this, you can make passive income online without creating your own product or website. The income is derived from setting up a web site that pre-sells a companies’ products. The parent company provides the products, tracks the sales and gives you a commission for each sale. Find companies that offer large commissions, and will track clients for multiple sales over a long period of time (i.e. lifetime) so you can get recurring commissions. Make sure they offer multiple tiers (at least 2) for sales, i.e. you still get paid if one of your affiliates makes a sale.
One of the best affiliate sites is clickbank.com. It offers a number of great products with high commissions with excellent sales materials and content to help you pre-sell its products.Visit http://www.clickbankwarlords.com for more info.
2. Information Products – the web is a great place to create an ebook that explains ‘How to” information, i.e. How to start a restaurant business, How to buy a house without getting ripped off…anything that makes life easier for people. People are
hungry for information; therefore if there is a need, you can create an ebook and sell it on the Net.Visit http://www.quityourdayjobsummit.com for more info.
3. Creating software products – if you have a good idea for a software product that will help people do something faster, easier or teach them something, then you may have a winner. The best example is Bill Gates who created the Microsoft Corporation selling the Windows Operating System. You could do the same on a smaller scale.
4. Advertising commissions – if you have a web site that attracts 1000s of visitors a day from the search engines, you can offer to place a banner or link on your site for a fee that you collect each month. You set it up once, and then collect the passive income forever.
*Newsletters, or ezines – offer advertising space in your ezine. The greater number of subscribers you have the more you can charge every time you publish. If you are wondering what an ezine is, it is an electronic magazine. Magazine that is delivered to your email unlike the traditional ones which are published on paper.
*Ebooks – offer advertising space in your ebook. Give the ebook away for free or even place links in it from affiliate programs you recommend.
*Google AdSense – place Google Ads on your web site. When someone clicks on the ad, you get a commission for every click. If you have 100s or 1000s of pages on your site, you can earn a substantial monthly income.Visit http://makedollarswithoutselling.com for more info.
5. Pay Per Click Campaigns – you can make money instantly by setting up a Google AdWords campaign for your product or affiliate program. If there are not too many competitors promoting the same product and it is in high demand, you
can earn a good passive income. Creating several successful campaigns will multiply the amount you can make.
6. Referrals – create a network of people that offer services or products related to your business. Ask for a commission every time you refer someone. Let’s assume you are a web designer, you may have cause to refer clients to graphic designers,search engine optimization experts, copywriters and database designers especially when you don’t have the time to do the work yourself or it is outside your area of expertise.
7. Create a membership site – if you are an expert in your field and can provide the resources, knowledge and support, you can charge a monthly fee to gain access to your membership site. The more members you gain, the more money you make. Because you are an expert in your field, you can also recommend other products and services to your members, from which you earn commissions.
8. Become a Reseller – by reselling other people’s services you can earn ongoing residual income. One such example is web hosting or domain name registration. You pay a monthly fee to the reseller and you can charge whatever you like to your customers for your service. Of course you must be thoroughly familiar with the service to provide the necessary support to your clients. Like I sell hosting as a reseller through www.webkonsults.com. I source for my clients once but they pay me for as long as they want their website to be on the net. Every year, they have to renew their hosting and domain registration.
9. Network Marketing
I don’t claim to be an authority on this but I know some people who have made good money from it.According to Wikipedia.org, “Multi-level marketing (MLM), also known as Network Marketing, is a business-distribution model that allows a parent company to market its products directly to consumers by means of relationship referrals and direct selling.Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents, etc.), represent the parent company and are awarded a commission based upon the volume of product sold through each of their independent businesses (organizations).
Independent distributors develop their organizations by either building an active customer base, who buy direct from the parent company, or by recruiting a downline of independent distributors who also build a customer base, thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the parent company at wholesale price.
Distributors earn a commission based on the sales efforts of their organization, which includes their independent sale efforts as well as the leveraged sales efforts of their downline. This arrangement is similar to franchise arrangements where royalties are paid from the sales of individual franchise operations to the franchisor as well as to an area or region manager. Commissions are paid to multi-level marketing distributors according to the company’s compensation plan. There can be multiple levels of people receiving royalties from one person’s sales.”
Conclusion: Building multiple passive income streams is a great way to secure yourself for the future. You never know if you will be laid off from your regular job, get too ill to work, experience a disaster or want to start saving for your retirement. Choose one of the above types of passive income streams and take action now, to secure your financial future.
To make you act faster, let me suggest that tonight when you lay on your bed, ask yourself this question, “what percentage of my day did I spend creating passive income?” If the answer is no, you’re in deep trouble. You’d better wake up tomorrow with a determination to start creating passive income. I will end this post by saying if you are yet to start creating passive wealth; you are yet to make real money. I repeat: if you are yet to start creating passive wealth; you are yet to make real money. Why? You are only making active income while passive income is it!
Popularity: 100% [?]
i read your write up, and i am moved. i am very
March 23rd, 2009 at 4:44 pmserious this time, i want to learn how to create a lucrative website i could hold on to. i want
you to tell me all i need to do and
i will. please
i want one on one trainig.so i chould prepare to
come to lagos.
THANK YOU
You really hit the nail on the hand.
March 23rd, 2009 at 4:45 pmThank you for the rich info
Thank You, Rich as Ususal
March 23rd, 2009 at 5:19 pmyou are very correct, what is the way forward, I can’t come to lagos for any seminar why not make beeter means of making sure we also make ligitimate amount of the internet, just the way others are making? please try and reduce the price of your ebooks as regards the internet possibilities that a novice can also benefit from. May God Richly Bless You For Kind Gesture, Indeed You Are Like An Internet Messiah
Obamwonyi Jerrywhyte
Benin-City.
josazee4life@yahoo.com
March 23rd, 2009 at 5:27 pmlooking forward to hearing from you.
this is very expository. thanks for the courage to bore your mind on the above subject even dough you know you’ll be criticze. cheers.
March 23rd, 2009 at 5:38 pmThis is a great post. The truth is that I’ve tried some of them and lost a lot of money. Well, I’ve decided to take my blogging more seriously.
March 23rd, 2009 at 6:06 pmI’m so glad you’ve been able to address this issue objectively.There’s definitely a lot to learn from this post.
March 23rd, 2009 at 9:31 pmGod bless you.!!!
Thank you very much Ma. I’ve always wanted something, not or two but multiple streams of incomes, online. I’m afraid to devote time, like quit the day’s job that I have now because of the responsibilities I shoulder, I’ve delved into Multi-level Marketing which you profess is another means of creating passive wealth. I am ultimately praying this turns out well for me and my downline(s) (www.travelaccessclub.net/prinuo)
March 23rd, 2009 at 9:41 pmThank you for hinting my fellow bros and sis’s out there.
A word is enough for the wise.
Thanks for the eye opener,It is nice to have some one far ahead to weigh and analise option for internet biz .God bless your wisdom
March 23rd, 2009 at 9:51 pmThanks so much ma. Always getting new tips from you
March 24th, 2009 at 8:56 amThanks for the info!!!
Yours
March 24th, 2009 at 11:25 amSeunola
http://www.freedollars-4u.blogspot.com
Thanks a Million for the info…
freedollars-4u.blogspot.com
March 24th, 2009 at 11:26 amYou are really a watch-man over us.Be mindful that you`ll greatly be rewarded.
March 24th, 2009 at 11:56 amThank you ma,
March 24th, 2009 at 12:18 pmReally you are helping us to know exactly where we have to set our mind on internet,really affiliates programs works and also traffic exchage are really trying.
I love the way you tell the truth,have a nice day and time may GOD reward you more.
[Amen].
This is rich in quality content and quite informative. I wish Nigerians who are desirous of making it online will take time to read this post. I will stumble it to help popularize the post. Cheers.
March 24th, 2009 at 12:30 pmthank you ma for the eye opening information.i have tried some of them but they are not real.pls write this in SDE in other to enlighten people and stop the so called internet guru that are promoting this programs.thanks a lot
March 24th, 2009 at 3:14 pmYou are one of the genuine ones i have i have come across. I didnt read through all the article but it added to my repertoire. Keep inspiring!
March 24th, 2009 at 7:15 pmThanks a lot for the timely tips and for ur sincere concern.Remain blessed.
March 24th, 2009 at 9:44 pmThis is a pure heart teaching to lift the poor from the pit and put him on the high hill of success , you are one in a million.
March 24th, 2009 at 10:43 pmu have been doin great things, I wish I should b in Lagos 2 testify 2 ur great work
March 25th, 2009 at 8:12 amVeeeery informative! readers of SD needs to be aware of this expose pleeease! many have bought manuals on this revelations!
March 25th, 2009 at 12:36 pmI love you ma for really being truthful to us.i make an average of $400 monthly from google adsense monthly and i am keen o making more.i have been able to master the adsense program because of your help and assistance,you have really been a blessing to me and i hope to order for you packages soon.I have been able to recieve my lost check of $587 from google and i am really excited considering the rate at which the dollars is now.once again,thank you ma for your encouragemant and advice
March 25th, 2009 at 1:27 pmTHIS IDEA ARE VERY GOOD. BUT HERE IN NIGERIA, WE DON’T HAVE ACCESS TO MANY FEATURES THAT WILL MAKE IT HAPPEN PERFECTLY.
ALL THE SAME ITS A GOOD IDEA.
March 25th, 2009 at 1:43 pmpls ma,am admire with all the mail you sent to me,pls mamm i want you to advise me concerning my weblog so that i can make money with it,the money that am erning present now is not encouraging me to put more effort it.Am really impress my god help you too.
March 25th, 2009 at 2:25 pmThanks for the invaluable tips.You are a rare gem.
March 25th, 2009 at 4:44 pmPlease keep up the good job.
David,
I organise one-on-one training sessions.
Email-iyabooyawale@gmail.com for full details.
Okey,Lawson,Richard,Gloria,Rotimi,Chess,
Oluwaseun,Eben,Jibril,Nigerian Entrepreneur,
Babatunde, Amaible, Bunmi,Eric,Ahmed,Yinka, and Dan,Engr Ugochukwu, Taoheed, Adewale
U are welcome!
Jerrywhyte,
We are working on going around the nation.Will let
you know once we are ready.
Timi,
Wish you the very best with your blogging.
Internetprince,
I rejoice with you o.
March 26th, 2009 at 1:55 pmFrom what people have said about you on your site and all the thanks you have recieved it can only be because you are a woman and not a man. Many men have reaped me off…. offering something similar. It is difficult to trust peolpe again. But i trust you. Keep it up..
March 31st, 2009 at 12:10 pmYou are simply trustworthy and reliable.Keep up the good work and may the LORD ALMIGHTY continue to give you deep revelation that will announce your relevancy to your generation.
April 1st, 2009 at 3:57 pmThanks, Madam.
This is a brilliant expose. Personally, I’ve met people who lost money in some of the shady ventures you reviewed. But I think the most damaging of these speculative businesses is forex trading. Yeah, it’s legit but highly speculative. It seems that in Nigeria, our so-called forex gurus make money teaching how to trade forex in seminars rather than from active trading. With many unwary nigerians having lost millions to forex trading, the forex preachers have wisely invented the new slogan of “crude oil” trading as if it hasn’t always been part of commodity trading which is as old as man. I just wish our people will wake up and take the lessons learnt from the stock market on the dangers of pursuing speculative bubbles seriously. Very soon, you’ll hear about the new victims of “crude oil” trading.
Thanks again, madam for this expose.
April 4th, 2009 at 12:48 pmyour comment are very wonderfully i am passion about becoming a ceo internet.
April 6th, 2009 at 9:15 amcan u be my mentor to train me
what i lovely post .Rich of valuable information that alway make me to come back and see what you have for us.Thanks a million times.
April 10th, 2009 at 9:18 pmso rich indeed. please may God use you to continue openning our eyes.
April 19th, 2009 at 2:45 amthanks a lot. http://www.correctbuycomputer.blogspot.com
hi, am interested in network marketing and have one that my husband wants to launch the nigerianteam, is there any advice you might give to that respect. MY husband will contact you also by email for more info and support.
June 22nd, 2009 at 10:19 pmi love the post but i want to inform your that i have lost money to some so called internet guru foe4real@yahoo.com
August 7th, 2009 at 1:18 pmThanks.It is true that I have been trying some biz
November 26th, 2009 at 12:04 pmon-line without earning.But I must confess I have gotten lot of insight from your write up.It is an interesting piece. keep it up.
thanks for being honest.
December 1st, 2009 at 4:36 pmi wants be a website designer how do i go about it?
December 7th, 2009 at 3:33 pmThe title “how not to make money online”, you’re right at pointing out the realities therein. Your list on sure ways of making money online did mention it all. Thanks for sharing.
January 14th, 2010 at 9:37 pmwow!!!!….what a great article. How I wish many Nigeria newbies online can read this article, then i bet most of them wont be wasting their time online. More grease to your elbow ma…I am making my own money through information marketing and adsense even with free blogger blog and am doing very OK so far..you can check out what I mean at http://www.ogbongeblog.com Cheers!!
February 10th, 2010 at 10:53 pm