Building traffic to a website is about creating “channels” from elsewhere on the web.
Places such as:
Stumble Upon
Digg
Viral contests
Oragnic traffic
Digg
Youtube and other video sites
Facebook
Affiliate program
Overtime little by little you create critical mass. There are websites out there with hundreds of thousands of sources of traffic.
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I’ve had a lot of opportunities to work outside of the Internet and even before I started making a lot of money online, I always felt fully drawn to making a living online.
For the past couple of weeks I have reflected on my thoughts and logic to gain a better understanding for why I am so drawn to Internet business.
Unlike the real world, the Internet provides a medium for incredibly substantial scaling. A regular retail store would have a hard time going from 5 sales a day to a 1000 sales a day. They would need to increase their store size and hire much more staff, not to mention the difficulty in going from 5 sales to a 1000 quickly.
An online store can adjust and optimize a PPC campaign and go from 5 sales to a 1000 much more quickly. An online store can also be made to automate the selling process and handle thousands of sales with only a fraction of the staff required at a physical location.
The Internet allows you to build scripts that can dramatically increase efficiently, therefore allowing you to scale up your business very quickly. For example, an eBay power-seller can use the eBay and PayPal API to automate the whole selling and listing process. This would allow the power-seller to handle thousands of listings without staff.
In the physical world it can takes months to get a building leased, get all the registrations and approvals, not to mention the huge start-up costs. Online a website can be put together and launched in just days for a couple hundred dollars.
The mighty YouTube was built and launched in a mere 2 weeks, by three coders. This means you can quickly test new ideas and markets, without the fear of loosing too much time and money like in the real world.
What really takes it to the next level for me is the felling of making money while you sleep. I know it sounds a little cheesy but when check your stats in the morning and notice that you made money at night your whole day is just that much better. It’s hard to explain to those who have yet to experience it.
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A lot of people underestimate the power of storytelling in Internet businesses. People naturally resonate and remember stories better then lessons. If you think back to school or collage, you will remember that your teachers or professors personal stories interested and resonated with you much more then the cut and dry daily lessons.
Personal stories can be used on anything from blogging to social media and even sales and landing pages. Here are some reasons why stories are better then lessons:
1. They usually go beyond theory and show real-life examples
2. They are easier to understand and relate with, as you can see why certain things are the way they are.
3. They help connect with your audience on a deeper level and build more trust
4. They have elements of entertainment
5. They are used by others as examples and referenced back to you
So next time you need to write a post or a sales letter think of storytelling.
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There are thousands of ways to make money online these days. People are making a fortune doing anything from affiliate marketing to selling stuff on eBay. There are literally tens thousands of profitable niches, where a ton of money is made everyday. As an Internet entrepreneur I see new opportunities to make money online everyday. I file every Internet business idea that I get on a daily basis into a word document for later reflection. These ideas come on so strong sometimes that I feel like just abandoning everything I’m doing and focusing on the new idea. The initial rush of working on a new fresh idea can be very addictive.
I have realized that jumping between projects and doing too many ideas at the same time is a perfect formula for complete failure. Choosing between which ideas to put on hold and not do, can mean the difference between success and failure. I now extensively evaluate each idea for the following criteria:
1. Does the idea fit into my future vision and will it help me achieve my long-term goals
2. The time allocation required vs. return potential ratio
3. Initial monetary investment vs. income and resale potential
4. Maximum income and growth projections
5. My experience and connections with regards to the specific idea
It’s always good to have an idea sit for a couple of weeks, so I can do enough research and let everything sink in. I have realized that the emotional enthusiasm of getting a new idea can cause irrational thinking.
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If you ask anyone in Internet business where they would invest their money if they could go back 10 years and almost always they mention domains. The capital appreciation of certain domains is just staggering. A domain that was worthless ten years ago could be worth tens if not hundreds of thousands of dollars. Some valuable domains are even valued at over 10 million dollars. Such a high level of return has brought in a whole new industry of domain speculators and investors.
Domain investors are known as domainers in the “domaining” industry. Most domainers don’t just buy and acquire domains for the purpose of appreciation, but rather for the purpose of achieving cash flow. Domains can be used to generate income with methods such as, parking and leasing. These methods for generating income can be very time consuming and almost always require the investor to hold a high volume portfolio with a lot of domains.
Domainers that park their domains generate income from a simple pay-per-click landing page generated by services such Sedo. These domains generate almost all of their traffic from people just typing in the url. Most domains achieve little or no profit using this monetization method. Only super premium domains with a lot of “type-in” traffic make any significant income using parking as a method of monetization.
There are also those in the domain industry that build small mini sites. These sites are usually content driven and achieve most of their income through Adsense or affiliate links. These domainers hire article writers and optimize their mini sites to generate traffic from the search engines. Even though this is a much more profitable model then parking it is much more time consuming.
Leasing domains for income is something that has become very popular recently. As domain prices increased to levels of real estate, leasing has become a viable monetization method. A domain worth forty to fifty thousand dollars could fetch upwards of $400-$500 a month. This is a much higher level of return then can be achieved in most real-estate markets. Another advantage of domain leasing is that the people leasing it could increase the value by building up a popular website. There are domainers that also lease out domains for a percentage of income rather then simply a monthly fee. This can sometimes even turn domainers into joint venture partners, who simply provide a high value domain for a percentage of the revenue or income.
Buying domains for future use or appreciation in value is a more passive way to invest into domains that requires a lot less time. This is the domain investing method that I am currently involved in. I regularly buy domains that I can use for future projects or just hold for appreciation. I only invest in .com domains and never buy anything for over $500. I acquire most of my domains by simply emailing people from the whois contact details. I prefer this investing method to the others because it requires a lot less maintenance and time. I also hate spreading myself thin over a lot of small websites and would rather just build up a couple big ones.
Overall I don’t see domaining as a viable standalone business for people wanting to get in right now. I think its much more healthy for Internet entrepreneurs to invest into domains on the side and just buy them up for future use or appreciation.
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