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Cross Promoting Techniques that Work
Cross promotions are not a new idea. They have been used by
businesses for a very long time. For example, a real-estate
company may promote a certain lawyer to close a sale, as the
lawyer will promote that agency in his firm. The system...
Earn More Money in Your Online Business by Creating a PIG
If you really want to earn more money with your at home business than you need to strongly consider adding a P.I.G. Obviously, I am not referring to the questionably adorable pot bellied pig that many fine people have adopted for a pet. The...
How to Make Profit Writing Articles
There are many ways to make money by way of writing articles and
this article examines some of the profitable and simple ways to
do it. Writing quality articles will definitely attract and
bring visitors to your site.
The most important...
Review of Money King - The Undisputed King Of Cash
The Money King is a very detailed and complete system that teaches you how to create the multiple streams of income that the author used himself to become "filthy, stinking, rich."
This course like many others these days is presented in...
Your Guide to Making an Online Income
Copyright 2005 Ray Mann Working online can provide many freedoms. An online income can also be difficult to maintain. There are many different types of online incomes. The best way to figure out what is right for you is to find support online...
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What should I sell On-Line
One of the first things you will have to decide when setting up an Internet business is whether you want to sell a product or a service, both of which have their advantages and disadvantages.
Products:
Advantage: unlimited income potential because you are not constrained by time, the way you are with a service (the more product you sell the more income you make - especially when you are automated).
Disadvantage: requires stocking and shipping (or drop-shipping from a supplier).
Disadvantage: generally requires you filling large amounts of orders to make a reasonable living, unless you have a product with a very high profit margin.
Services:
Advantage: it is easier to make a profit quickly because the entire price of a service is paid to you (except for any overhead).
Advantage: services can generate a great residual income because the client may want to hire your services again and again.
Disadvantage: you are limited to a modest income because you can provide only so many services each day (unless you hire employees to perform services for clients).
In my opinion, selling a
product online has, by far seen the biggest profit potential in the long run. Once you get a successful product, you can automate the system and move on to new products that will generate multiple streams of income.
If you need immediate cash flow, providing a service is the fastest way to produce instant income... but it will never pay off as big, in the long run, as selling a product with a high profit margin.
If you sell a service, think about how you can transform it into a product. One of the best examples I can think of is regarding the people who submit websites to search engines. Because the competition got so fierce and their business began to suffer, some wrote and sold reports revealing how search engines work and tricks for getting sites listed higher etc. The reports were priced at $20 -$100, and the entrepreneurs in our example found new markets to tap.
I hope this helps in your future marketing decisions.
About the Author
David Bell is Manager, Online Marketing, at http://www.wspromotion.com/ , a leading Search Engine Optimization services firm and Advertising Agency.
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