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Archive for September, 2007

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Which Level Of Difficulty Is Right For You?

Posted by Jane on September 10th, 2007

The online world has tons of opportunities for you to educate, share and grow your revenue. With each money making opportunity comes varying forms of difficulty, barriers to entry, and levels of creativeness required. For those who can master thinking outside the box, there certainly are plenty of ways to monetize your ideas and grow your income significantly.

I Am Just Like You

I started seriously pursuing making money online opportunities about one year ago, but have dabbled with selling products on ebay going as far back as 1998 (haven’t we all? :). Last summer I stumbled across John Chow’s blog when he was first hitting Digg every week and was just barely turning his blog into an income source. At the time I was very impressed with his $1000 – 2000 revenue months. To be honest, I was amazed.

Last month John brought in almost $18,000.  One site, one man, $18,000.  Unbelievable right? Here’s a screen shot of the revenue breakdown:

John Chow's Monthly Revenue

Six months ago, I would have answered yes. Today I can honestly say that all you need is creativity and you can also reach these levels. Some methods take more risk than others, but this level of income can be reached with several different methods.

What Do You Mean By “Creativity Can Make You Money?”

Here’s an example – remember last month John Chow eliminated his 300 x 250 adsense ad block and offered it up for private sale? In case you don’t know what I’m talking about, it happened something like this (exact $ amounts are probably off but I don’t want to go back and find them). John offered the ad for ~$1000/mo. Someone bought it and flipped it for ~$1500/mo. Then that person flipped it or monetized it to bring in ~$15,000/mo. Again, the details might be a bit off, BUT the point is that these people were readers of John Chow dot com and understood the value his ad space has. They took a large risk to initially buy that ad from John. They combined their intelligence and creativity to make a nice profit.

Can anyone do something like that? Absolutely NOT. You have to be aware of how the online industry works, keep up with trends and valuations, read your butt off, spend hours testing your ideas and THEN, you CAN make transactions like these or create large revenues.

How To Find Your Profitable Niche

We all prefer one thing over another when it comes to online opportunities and that is a good thing. The key is to enjoy the area you decide to pursue. For example – I don’t have my own blog because I don’t really like to write on a daily basis and I don’t have the extra time to write for an hour or two per day, so I eliminated the thought of making money via a blog. On the other hand, marketing and advertising have always appealed to me. I took much of what I’ve learned from the countless hours of reading, researching, designing and testing sites, and applied it to the world of affiliate marketing.

Last month (Aug 1 – 31), my revenue matched John Chow’s revenue but from a completely different method. This will be the first and last time I publish revenue numbers because I’m here to try to provide ideas to help DWI readers generate revenue, but I know seeing numbers can motivate people to see that the opportunities do exist.

 

I encourage you to think about which online activity you enjoy the most. Then call on all the hours of material you have learned through this blog and the few other good ones and create a strategy on how you can tie everything together. It takes a strong desire and patience, but it can be done.