It was 3:00am when the alarm clock sounded. I got out of bed and stumbled through the dark to my computer. As I sat down I asked myself “Is there an easier way to make money online then doing this?”
You may be asking: Why was I getting up at 3:00am? What moneymaking idea did I have that warranted a 3:00am wake-up call? We’ll get to that in a minute. For now, I’d like to share with you the top strategies I have personally used to make millions online and a few that some of my closest friends are using to generate huge monthly revenue streams.
A lot of people claim to be making a millions or “a lot” of money. So I don’t blame you for doubting me. In order to put your mind at ease, here are a few sites that can back up my claim along with a few websites with credentials for me…
Inc 5000 List of Fastest Growing Companies 3 Years in a Row – (A company I co-founded in 2000 and sold in 2008)
EzineArticles.com Expert Author
My Own Website
My Top Ways to Make Money Online
Buying and Selling Websites – After selling a business that took up the majority of my time with lots of employees, I started looking for a business that wouldn’t tie me down to a specific location. I also wanted a business that allowed me to do other things, like travel and spend time with my family. At the same time, I wanted to make a lot of money in whatever it was I was doing.
So I did some research and being that my background for the last 15 years included: Financing and Online Marketing, I decided to look into buying websites that were already up and running and making money. I wasn’t sure if there were any sites online that would teach this or not but I started to research through Google.
Much to my excitement there were a few quality educational sites that provided some great tips for beginners like me and gave me great tools to research sites to buy. My biggest concern was getting scammed in buying a site that someone said made $10,000 per month but really only made $100. I spent the last 10 years building a business and selling it that provided me some capital to buy these sites, but it was unlimited capital. So I wanted to be careful about what I invested in.
I took the plunge, bought my first course on buying and selling websites and after 1 week I made my first website purchase. It was exciting and yes, it was why I was up at 3:00am. I was looking up an auction that was ending in the middle of the night hoping I’d been the high bidder. I bought the first site through an online auction selling other websites.
This was it, my first step into making some serious money online that didn’t involve all the headaches from my previous business. Making money online is what I’d been doing for several years, but it also involved offline employees. So being able to buy a website that had no employees, no overhead and no fulfillment was thrilling.
This particular website made money strictly from Google Adsense. The website had been established for about 3 years and was on the first page of google for three competitive key phrases in a small niche. The site got some good traffic to it everyday. When people visited the site, they would see the Google ads and click on them. Yipppeee – I got paid. It was brilliant.
I was hooked and here I am writing from my house on the lake in Northern Idaho about how to make money online using strategies I use right now for making some serious money online. I really do not like a lot of the sites that teach people how to make money online who are using article writers to put together content just for the purpose of ranking with Google and yet there is no one involved in the process who has made over $100,000 or better yet a $1,000,000 per year. So how can they really teach anyone the steps to making money online? I don’t tell you about how much I have made to be boastful, it is strictly to add credibility. Personally, I like learning from others who have already walked the walk. They can provide insight on what works and better yet what doesn’t work.
Sorry, back to buying and selling websites. I believe this is the #1 way to making some serious money and a great way if you have no money to start with.
There are four main approaches to the business of website flipping or buying and selling:
Build and Flip
Build and Hold
Buy and Sell
Buy and Hold
BUY and FLIP WEBSITES
If you don’t have a lot of money to start by purchasing an existing website that is already making money, you may want to start out by building a site that you can flip (sell). Using this approach I would highly suggested you build a site using WordPress. This platform is easy to use and when you sell there are a lot of buyers who look to purchase sites built using WordPress only. So your pool of buyers will be much greater.
In addition, when you choose a site to buy your domain and host your site it’s best to pick from the most popular sites because it will be easier to transfer to the buyer. Buyers like it when the transfer of the site is easy. Professional buyers will ask where the site is hosted and what platform the site is built on to weigh that in the decision making process.
***Yes, I make money on these links if you click on them and buy something. This is one approach you can take on the sites you build. Add affiliate links to earn commissions and make money online.
After you’ve chosen the place to buy your domain, host it and the platform you are building your site on, next you want to pick a niche. The niche is the category or topic of the site. You need to think about how to make money with the site as you do this. Some niches may look great, but there’s no money to be made in them. How can you find out which niches are the best? There are a lot of tools available for online entrepreneurs to use that will give you the information you need. Start with Google Keyword Tool, it’s free.
What you look for is a niche with a lot of searches in google but not a lot of competition for the keyword phrases. For example, if Google shows high traffic for the key phrase “Make Money Online” that could be a good niche. Next look to see how many people are buying ads on Google for that key phrase. If there are more then a dozen it means the term probably is generating some revenue for them. Next, and most important you need to research the top 5 sites that show on Google search results for that key phrase.
You need to determine if you can out perform them in order to surpass them in Google rankings. Ultimately you want to be able to reach one of the top 3 spots in Google for the key phrase you are targeting. If the top five sites all have been around for 8 years, have over 500,000 back links, over 10,000 pages indexed in Google and have Page Ranks of 6 or higher, it’s going to be a very competitive niche. It will take you a lot of time and potentially money to rank high with the site. If you can get in the top 3 however you will likely have a huge amount of traffic and your site will become very valuable.
Once you determine the niche and the key phrases you are going to target, build your site and take it live. Now you can decide when you want to sell it. Depending on the amount of money you want to make you can either post the site for sale right away or wait a few months for the search engines to rank your site higher in search results. The more traffic you have, the more money you are making and the higher price you’ll get for the site. The most popular site right now for buying and selling is Flippa.com.
BUILD and HOLD WEBSITES
There are two philosophies in investing – income stream and payday. The income stream investor is looking for a passive income each month that gives them a nice revenue stream. The payday investor is looking more for a large one time payout. The payday investor wants to either use the payout to make a big purchase or leverage the money for bigger deals.
Certainly this is not an either/or choice. You can do both, but when starting out making money online I’d recommend picking one.
With the build and hold approach as with the Build and Flip, it’s mostly for those that don’t have the capital to buy an existing site already generating revenue. Building a site from scratch in a niche that will make a good amount of money each month can take years to establish. So unless you have the time to wait, I’d go with the build and flip or buy and hold approach.
Similar steps apply for this business model as it did for the Build and Flip model. Pick a niche, buy a domain, pick a hosting company, install WordPress and build the site.
A classic flipping model – buy and sell. I love this approach. This is potentially one of the best ways to make money online in the shortest amount of time. I work with some people who live in Europe and are doing this full time making hundreds of thousands of dollars each year. Their entire strategy is to buy undervalued sites and either flip right away or improve the site a little to increase the value and then sell.
I know one group of guys that buy web properties in one auction site and sell them immediately on another auction site. In most cases they make a few hundred per site, but when you do 2-3 deals a day that adds up to big money.
BUY and HOLD WEBSITES
This is my approach. I buy sites with an existing revenue stream to hold. I like passive income. Actually, I LOVE passive income. Buying websites with existing revenue streams is a fast way to make money online. Of course you need to have a little money to start down this path. You can buy sites for as little as a hundred dollars or as much as a few million. To start out you should look at a few deals with low monthly sales and a few hundred dollars to purchase, just to get your feet wet.
There are red flags that you need to be careful of when buying sites however. One of which is a major variance in the income each month or a very high ramp up in monthly revenue. It’s best to look for sites that have a few years of consistent monthly revenue or slow monthly growth in revenue.
To make money online – buying and selling websites in my opinion is the best business model. You have four approaches to choose from and can make money online quickly with a few of them.
Once you have a website up and running you should look for ways to promote other people’s products and make money from the traffic you send them. In this article I have links to sites that consider me an affiliate where if you click and purchase from them I’ll make a commission. You can do the same thing. Add links to the sites you buy or build and make money.
ClickBank is one of the top marketplaces for finding products to sell and earn commissions. Sign-up on their site today and start making some serious money online.
If I could leave you with one piece of advice for making money online – it’s to take action. Without taking action you’ll never make money online. So start now, set up a site, buy a site or learn more with Buying and Selling websites. Whatever your next step, just take it.
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