Search our site:
Recent SEO Posts
Internet Entrepreneurs Choose Passive Income
(3rd July, 2010)
Internet Entrepreneurs Choose Passive Income | 
Has there ever been a better time for the entrepreneur? I was around in the Thatcher era when everyone and his dog was encouraged to start a business. Never had the UK had so many window cleaners, gardeners and handymen.
While those start ups were made by the folk prepared to ‘get on their bikes and do something’ the plan was to hopefully make a weekly wage while today’s internet entrepreneur can realistically hope for and even expect much more in income opportunities.
Sure there is a steep learning curve but anyone with a modicum of intelligence, some time to sit and learn the ropes and a bit of patience can build a successful online business. The skill comes in choosing the correct business to put your efforts into.
Something like this online store selling kitchen stools is most peoples idea of an online business. Unlike its brick and mortar counterpart the online store can be up and running for a few hundred quid and £10 a month running costs. No rent and rates or utility bills for the online business.
Like its brick and mortar counterpart though it has customers to deal with, suppliers to handle, couriers to organise etc. all of which takes time.
A much easier and less time consuming online business is information publishing. You write and publish information on a web site that people want and need and then sell advertising space on the site. This is often the first method people try to make money online, usually through Google’s Adsense program.
The biggest mistake made by those trying this method is that they pick the wrong subjects to write about. Blogging about your life as a secretary is not going to attract high paying advertisers. To get the real money you need to be writing about a subject that will attract readers with high commercial intent.
Probably what most internet entrepreneurs strive for is passive income. Set it up and forget it, just cash the cheques once a month is the dream. Far from being the holy grail of internet marketers though, there are literally tens of thousands of these businesses already online.
All you need is the answer to a problem that a large amount of people have.
At a recent internet marketing seminar I met someone who was 38 and had been living with his parents until 12 months ago. He was a failed musician making ends meet teaching kids how to play guitar when he hit on the idea of creating a digital tutorial and selling it online.
He sells between 70 and 120 units a day at $37 each. The lessons are digital which means the buyer downloads them after purchasing and there is no stock to worry about. Apart from replying to the odd email which his support staff now handle, his $6 figures per month is totally hands off.
These digital products need only be created once and can be sold for as long as there is a market for the problem.
Here’s a successful digital product about identity theft protection which is a huge market in the States at the moment and there are a ton of other examples you can find. Wherever there is a problem an internet entrepreneur is trying to sell the fix.
For every problem solver released though there are thousands that never get past the idea stage. People have the idea but don’t know how to:
- create a digital product
- market it online
- sell it hands free
- deliver it automatically
If you have a fix for a problem you think people would pay for but don’t know where to start, use the contact page to get in touch. If we like your idea we can work on a percentage of profits rather than up front costs to you.