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The TRUTH About The Quickest Way To Make Money Online
By Tim Gross - Internet Business Blog |
An online marketer was recently asked, “What is the quickest way to make money online?”, and his answer was: Go to a seminar in your niche to network. Fair enough…
But The problem with short simple answers of course, is that they only apply in some cases.
- What if you accidentally go to a crummy low-level seminar?
- What if your entire startup budget is $2,000, and going to a $2,000 seminar will deplete your resources?
- What if you don’t have a niche picked out yet (most don’t that ask that question).
The truth is that normally, how fast you can make money is directly proportional to the risk you’re willing to take.
The fastest way to make money is:
- Buy rights to a product you think will do well
- Write a strong ad for it (or have one written)
- Spend an enormous amount of money on advertising from day one without doing any testing first.
If you’re really, really lucky, the stars will align and you’ll make a boatload of money almost overnight.
The problem is, that plan is also the solution to the Richard Prior movie, “Brewster’s Millions”, where he needs to spend $30 million in 30 days and be left with nothing to show for it.
So the safe and sane method is to do the above but test the offer in a small way, tweak it based on response, and build. It’s not ultra-fast, but it drastically reduces the risk.
Other ways to make money fast:
- Get a huge joint venture partner to promote your offer and pay them handsomely for it. The problem: Why would they promote you unless you could show how well your offer converts?… which brings us back to having to test and tweak first.
- Create an ebook with affiliate links on a hot topic, and create some reason for why others will want to distribute it for you. (ie, it’s worthwhile for them to sell it and you make passive commission from the affiliate links, or they pay you to put in their affiliate links, etc.) This could just be a collection of other people’s articles on a topic that you ask permission from the authors to include in the ebook. (Brainstorm Win-Win-Win scenarios where others will be motivated to do something that benefits you)
- Create a viral marketing campaign of some type that is interesting / cool / funny / heartwarming enough that people email their friends with a link to it, and there’s some back-end way for you to profit from.
- Hack in to an online banking website and steal a bunch of money (Editor’s note: Not recommended!!)
What people really want when they ask about the quickest way to make money online is that they want you to fill in every blank and every detail for them, and basically “give” them money based on your can’t-fail roadmap.
That’s where the problem is… Because you’ve got to take the framework and build your own house, and it’s a numbers game. You have to stumble around and find what works, not investing too much time or money in each thing, until you find what works.
I’ve had some amazing successes online… But my first “Million Dollar Ad” went through 4 complete rewrites before I turned it into a runaway smash-hit.
I’ve also put 100 hours into developing a product that was a complete and utter failure, an absolute waste of time. Not a problem, because it’s a numbers game, and if you keep throwing stuff at the wall, some of it will stick.
…And outside of simply lucking out, or having a stroke of genius that no one ever thought of before (Hotmail?), that’s the quickest way to make money online.
You got any better ideas? 
Your friend in online success, Tim
(PS - If you need help filling in the pieces of the puzzle, please subscribe for additional help.)
Topics: Marketing | Trackback URL
May 7th, 2008 at 9:26 am
1. Dearly Beloved Tim:
2. Greetings and great to find your update on Twitter.
3. This is very true however, the question remains, “WHO WILL BELIEVE YOU ENOUGH TO TAKE ACTION RIGHT AWAY AFTER THIS MILLION DOLLAR IDEAS?”
4. That is where everything goes gloomy.
5. I think, there is a need for a sledge hammer use sometimes to drive this intelligence into the minds and heart of men before action can be taken and right away!
6. Well, I am sure, someone will brush this aside and continue to search the cyberspace in a quest to finding the solution and that may take another two to three years… hee hee hee.
7. Thanks once again for the Twit and for nailing the nail on the head as always.
8. Enjoy your posts here on the blog, keep up the great and good work.
9. Remain blessed and a blessing and we shall communicate again soon if God is willing!
10. Regards, Olakunle Solomon Fatoye.
May 7th, 2008 at 9:34 am
@Olakunle -Thanks for the comments. You know, people always get derided for “not taking action” on things, but the truth is, it takes an enormous act of will and effort to step up and tackle a new online project.
Problems occur, obstacles get in the way, and it always takes much longer and is much harder than we initially expect. That’s why I always try to cover “The Good, The Bad, & The Ugly” when I’m teaching people techniques, because it’s a huge disservice to get someone all excited about doing something and sending them off on their merry way without pointing out potential downsides. Many of our “Guru” friends don’t help in that respect.
May 7th, 2008 at 11:51 am
Hi Tim,
After reading Your Post and reading the 1st Comment about this Post helped me to further
know that this is good company. Positive mind
set in a can do attitude says, Now faith is
the substance of things hope for and the
evidence of things not seen.
Because my own Mother Ellen, read the Bible
out Loud to me even before we were born and
my Grandmother Nora prayed and laid hands,
God Our Father is still blessing the hearing
ear. Be Blessed always…Peace!
Looking to the rock from which you were hewn
And to the quarry from which you were dug.
Blessed are the pure in heart, for they
shall see God. Thou Art with Me, Global Day of Prayer Sunday, May 11, 2008 millions of Christians, Google Me - Beloved.
Happy Mothers’ Day.
God Is Love, God Is Good, God Is One.
In Jesus Christ Our Lord,
a fellow servant
Jim Legington
May 13th, 2008 at 7:36 am
Great stuff! Thanks for sharing, one fresh
idea and you can change the world, keep
up the great work.
May 21st, 2008 at 11:35 am
Great post Tim with some great tips in it. Absolutely the truth! I have run into many asking the same question and there is no EASY
answer. Hard work and determination will always win out in the end.