One of the best loopholes to make money is through using the internet. The internet never sleeps and you can learn to turn it into a cash generating machine, given the time. When I first looked to the internet I found a clever way to earn money through eBay. I thought it was genius and it involved finding badly listed items on the auction site. Here’s the basic idea.
Loopholes To Make Money – eBay
Ebay is a great place to make money. There’s various business strategies you can use, but the one I used involved finding badly listed items and re-selling them for profit. I used a misspell tool called bargainchecker.com to find items which were incorrectly spelled on eBay. I would find auction only listings which had a very low starting bid. Unfortunately for the owner, they will get far fewer views because of this spelling error. This also means they get far fewer bids. If you’re clever, and use another tool called auctionsniper.com, you can jump in with a bid in the last few seconds of the auction, and get the best price without entering into a bidding war.
You can also use the advanced search tool on eBay to determine whether something is worth bidding on, and whether you will make a profit.
Once you’ve won an item and received it, re-list it with better spelling, more keywords and better photos and description. For more on this strategy see the full article: “how to start a profitable ebay business“.
Loopholes To Make Money – eBooks
After doing the eBay strategy for several months I only broke even on a sale once, and that was because the item arrived in a bad condition. When I re-listed, I was honest and I still made the same money when I sold it.
Every other product I sold made a profit. I dropped this strategy though eventually because I knew there had to be something better. I looked into writing my own ebooks since I had bought the eBay strategy through an ebook purchase. So I wrote a couple of ebooks and attempted to sell them on my own website.
Ebook selling is a great business model because it can be done for so little. Plus, you can sell an ebook directly from a website and it gets automatically downloaded once someone purchases it. For more information on ebook selling see “how to sell ebooks on your own website“. It’s a great hands off business idea.
Loopholes To Make Money – Affiliate Marketing
Affiliate marketing is one of the best loopholes to make money. It lets anyone benefit from the growing trend in online purchases, and you can promote existing products and services to earn from sales you generate.
Affiliates don’t need their own products and don’t have to deal with customers. They simply refer sales over the internet through using content marketing, email marketing or running advertising campaigns.
With the right products and a good marketing strategy anyone can earn money by using the affiliate marketing business model. Access a free video series here to learn more.
Affiliate Memberships & Software Products
Selling a membership product is one of the best loopholes to make money online. It gives you a passive income for sales you made previously. If you don’t have a membership product of your own, you can refer online sales using the various affiliate marketing business models.
With software products and memberships, customers can and do maintain their membership for years; especially if you choose a lifetime commissions affiliate program. These are usually programs which offer huge value to the customer. An example would be a business software which is necessary in order to run an online business. Once a business becomes profitable, the customer will be very loyal to those products which is needs the most. So if you can refer those kinds of products as an affiliate, you can earn regular recurring payments for a lifetime for each customer.
As an affiliate you only need to learn how to refer these sales, you don’t have to concern yourself with product fulfilment with an existing product/business model. See recurring commission affiliate programs.
Google Adsense – Generate Passive Income Online
Google’s Adsense program lets website owners place some code on their site which is transformed into advertising. When someone clicks on your adverts, you earn a small commission based on the advertising fee for that particular advert.
Adsense can also be used with YouTube videos too. Some YouTuber’s create many videos and upload them to the site. Once you have over a certain number of videos, visitors and subscribers, you can join YouTube’s monetising program and earn for advertising on your channel. See how to earn money on YouTube with Adsense.
If you’re a blogger, Adsense is a good alternative strategy of monetisation to affiliate marketing. Advertising can be placed on any website to earn revenue from advert clicks. However, you’ll need a lot of website traffic in order to make a good profit from this program. This will generally need to be built up over time since you’ll need organic traffic to make this pay. See how to get free traffic to your website.
High Ticket Digital Products
Using the affiliate marketing model, you can also sell high value digital products. With a digital product you can earn far more as an affiliate than with physical products from the likes of Amazon. Typically digital products pay 30-40% commissions on sales you generate. Physical products pay much less; usually from 1-11% commission.
A high ticket product is a product which sells for larger than say $500. So you stand to make more per sale than with a lower valued product of around $100. With a high ticket digital product selling for $1000, you can earn $400. Compare this to a low value physical product at $100 which will only pay you $3-£11.
If the same work goes into making an online sale in both cases, you can see clearly where you should be placing your energies! See what is high ticket affiliate marketing.