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I want to share with you the three main ways on how to make money online, whether it comes to YouTube blogging and much more.
Stay tuned, I’m going to answer this question for you and give you some big-picture insights right now in this post.
Making Money Online – The Right Way
A lot of people are interested in making money online when it comes to YouTube or blogging. All these things are a great starting point.
You want to find out:
- How do I make money with YouTube?
- How do I make money with blogging?
But in the end, it comes down to the big picture concepts. That’s what I’m going to share with you in this post.
If you’re completely brand new, don’t forget to check out our Freebies section at the Backstage Income website where you can download a lot of checklists, some getting started guides and things to jumpstart your online business.
There’re three ways three main ways to make money online. Everything else is a subset of these three things, and if you understand these three things, then you could virtually create your own business creating many different ways and offers and making money on the online space.
Making Money Online – Traffic & Ads
I’m not saying this is the best way. I’m saying that this is one of the ways. And that is traffic and ads.
If you have enough viewership on YouTube and your blog, you could place advertisements such as this video is sponsored by X, Y, and Z.
Or the little pop-up ads that you might see before playing a YouTube video. Those are traffic and ads. The more viewership, the more views, the more readers you have on your blog or website, the more traffic and ads you’ll be able to make from sponsorships.
Ultimately, when you have the traffic and the audience, you can make money from traffic and ads. That’s the first way, and it’s probably the easiest way.
Making Money Online – Sell Your Product
The second way is to sell your product. It might be a digital course, a service, a book, or a webinar and coaching one-on-one.
You could see some of the courses here that we have at the Backstage Income website.
This is our getting started segment for people who are interested in buying a course. That’s our product, and that’s a product that we sell. And coaching is a service that we offer, but it’s still a product that people can buy. It’s ours. It’s something that I’ve created.
This is the second way that you could make money. We’re selling a product, and it’s probably when you’re selling a product you have the most margins because you have control over how that product is delivered. You have control over how you sell it, the price of the product, and much more.
There’s a lot of pros to it. The disadvantage, of course, is it takes time to create these things. There’s a lot of know-how, and sometimes they fail. That’s just the nature of products.
Making Money Online – Sell Someone Else’s Product
This is where it comes down to affiliate products. If you go to the resources section, we have recommended resources to get started.
There’s Bluehost, Hostgator, LiquidWeb or MailerLite, Aweber, ConvertKit. All these links are affiliate links. And it’s someone else’s product. It’s someone else’s service, and if people sign up, we get a credit or a cut or a commission for it.
In that case, this is another way to make money online or from anything else. It’s like a salesperson. And this is what some of the big bloggers do. They promote a lot of these things.
It’s not necessarily the best, but they get a cut for it. That’s what you have to think about when you’re doing these things. That’s why we put three, usually.
That’s the one that I use may not be the one that’s right for you. You always have to take it into account. Your situation might be a little bit different.
In either case, this is another and third way to make money online. And that’s by selling someone else’s product. By promoting these products, you get a cut or commission like Amazon affiliates, Clickbank those kinds of things. That’s the last way to make money.
I’d say it’s an in-between point between creating your product and traffic and ads. You can make a little bit more because you can get a cut or commission.
But on the other hand, you do have to promote someone else’s product. And sometimes you’re promoting someone else’s stuff could lead them to away from your company in business.
However, when you look at it in a big world, it’s a win-win situation and relationship. As long as you’re doing an excellent service for your audience and viewership, you should be just fine and okay.
And anything else that you think about when it comes to creating a product, service, making money online there’s a subset of this. Whether you’re making it from ads, creating your own product, or selling someone else’s product, it’s subsets of these.
It’s all about how you package them, how you think about them. Are a book and course are different things? Yes, absolutely.
A webinar, a class they are different things, but it still may be your product. Think of it in a big-picture way as you continue to evolve and look to make more money online.
- Are you trying to get traffic?
- Are you try to create a product?
- Are you trying to sell someone else’s product?
And where it fits is going to depend on a little bit more different type of marketing approach that you may want to take.
I hope this gave you some thoughts and insights to take a step back because I know some people zoom in hard on specific things.
Ask yourself what’s the foundation of your business and how it is making money. That’s the key.
Look at what you want to focus on. Do you want to make your own products, sell someone else’s or get traffic and ads?