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The Google - YouTube deal is just one such deal.
Chad Hurley and Steve Chen started YouTube "in their garage" -
likely in their living room office - but a "garage start-up"
sounds so cool. Hurley and Chen started their website only 20
months before Google bought it for $1.65 billion. That is $825
million each for 20 months work, or $41.25 million dollars each
for every month they were in operation!
All of us dream the big dream, but then reality sets in. Few of
us can look forward to earning $40 million per month. While you
can probably count the people who have on two hands, there are
still thousands more people who have managed to turn their online
business into a million dollar a year business.
Most people who start an online business might dream of making
one million per year, but most would be happy just to earn enough
to leave their day job behind them. Some would even be happy to
earn just enough to pay their car payment or to save for their
kid's college tuition fees. All are worthy goals, and the good
news is that all are within the reach of most people who strive
to reach them.
Learning How To Play The Game
As with any great endeavor in life, there is a process one must
follow in order to be successful.
The first step is learning how to play the game.
The beauty of starting an online business is that the internet is
driven by information. If you have a desire to learn about
something, then you will find someone on the internet who is
willing to teach you about the topic you wish to learn. You can
literally find information available on any topic, some of it
free and some of it available for a small fee.
Online Business Structures
There are four primary business structures on the internet:
1. Product Sales
2. Service Sales
3. Membership Websites
4. Advertising Platforms
Product sales include both hard goods and digital items. Examples
of hard goods include food, clothing, car parts, books and music.
Examples of digital items include electronic books and software.
Within these four primary platforms, there are several ways to
accomplish each business process. For example, with a Product
Sales driven website, you can opt to use: a direct sales website,
an online auction system, or an affiliate sales format. With
Service sales, you can use the direct sales website or the
affiliate sales format.
Affiliate sales systems are akin to Reseller sales systems. There
really is one difference between an affiliate sales system and a
reseller program.
With an affiliate program, you will direct the buyer to the
seller's real website - through a special tracking URL that is
only available to you - to make their actual purchase, and you as
the affiliate will be paid on a monthly schedule for the sales
that you have generated.
With the reseller program, the source company will remain hidden
in the background. You will make the sale, collect the money from
the buyer, and then you will process the sale through a private
access point on the seller's website.
The concept behind the membership program is that people will
rent access to a private area of your website.
The most well known advertising platform of course is the search
engine. They make their money when someone else buys advertising.
Other such sites include news or general information websites.
While the big boys make up the immediately recognizable websites
based on the advertising platform, many small publishers are
making a good living by providing advertising driven websites.
Low-Cost Entry Point
Forget going out and renting an office for $900 per month. Forget
about having to set up utilities in your home and at your office.
This is another one of the beauties of an online business. You
really do not need to have a costly storefront in order to go
into business for yourself.
If you go the online auction route, you will not need to have a
website at all. But you may need the extra room in your house or
in your garage to handle storage of the product you will be
selling, unless you go the drop-shipping route.
The idea behind a drop-shipper is that you can register with a
wholesaler. Then you can sell single-piece items to your
customers, and process the order through the wholesaler in the
same way you would through a reseller program. When you buy the
product from the wholesaler, you will give them the direct
shipping address of your customer, and the wholesaler will put
your shipping label on the package. When your customer receives
the product, by all appearances, that product will have come from
your warehouse. To find drop-shippers who serve your choice
product lines, you should sign up for a lifetime membership at
World Wide Brands for their drop-shipper locator service.
In any other business model, you should seriously consider
registering your own domain name, even if you intend to utilize
the affiliate sales systems. The costs of pursuing this route are
minimal. You can expect to spend $20-30 buying ownership of your
own domain name for one year, and you can generally get a web
hosting account (where you actually manage and store your domain)
for anywhere from $30-50 per month.
Low Knowledge Threshold
Many web-hosting companies offer a HTML editing tool within their
domain management interface that lets you build and design your
website's pages.
The beauty of these HTML editing tools is that you do not have to
know how to build actual webpages. You simply type what you want
into the editing interface, highlight what you want to put in
bold print, and then click a little button that converts your
highlighted text to bold print. The same processes apply for
links to other webpages, and a wide variety of text formatting
options. It is so easy, even a caveman could do it.
Mix-and-Match For Best Results
The lowest-cost systems for your first website is between the
advertising platform, and product and service sales through
affiliate programs. The best benefit for each of these three
options is that you will not need to build your own online
payment systems. That is a real advantage when you are just
starting to get your feet wet.
For advertising systems, many people today utilize the Google
Adsense system to put paid advertising on their website. To get
involved using Google Adsense, you simply need to get your
website approved by the Google staff, and then you copy a piece
of code they give you and put that code into your webpages. You
can generally get Google's approval in three to five days. And
then, once you apply Google's code to your webpage, you will be
able to get paid for advertising on your website immediately.
Affiliate programs work in the same way. You get registered with
the affiliate's website, and then they will give you a small
piece of code that you can copy-and-paste and put directly into
your website. Once again, you could be earning money from your
visitors beginning the same day you put the affiliate code on
your website.
My best advice is to not rely on only one system for making
money.
Google Adsense pays you every time someone clicks an
advertisement on your website (don't do this yourself, or Google
will terminate your account with them). Because Google is paying
you for traffic that you send to their advertisers, you will only
get paid based on a percentage of what Google collects from their
client for that visitor. In some cases, we are talking about
pennies per visitor.
With affiliate programs, you could literally make $2 or $200 for
one sale.
I believe that if you are getting into an internet business on
the advertising platform, you should not rely only on Google
Adsense, nor should you rely only on your affiliate programs.
But together, both systems on your website could provide a
significant income for you. You now have some of the secrets
to become the next internet millionaire. Now, go get started!
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