Network Marketing: Pros & Cons

Network Marketing: Pros & Cons

ShareAfter beginning my journey into affiliate marketing and other web based opportunities, I recently had lunch with a friend who is very successful in the Network Marketing industry. If you aren’t quite sure what network marketing is, then think of companies like Avon, Mary Kay, and Herbalife. Yes, I know that will probably bring up instant feelings about MLM (multi-level-marketing) businesses, with opinions that revolve around the phrase “pyramid scheme”. To be honest, I pretty much felt this way myself. In fact I felt that there was no way a common person could ever be successful with it until recently. Over the past two years I had noticed that several friends of mine had signed up with various network marketing companies. Most ended up doing nothing with it, but a couple of them actually did well enough to quit their regular jobs and jump in full time with their new venture. So this sparked some curiosity and I decided to find out some more. After digging in, I discovered a few things about networking marketing that either makes it a good or bad decision for you. Yes, it is a very viable option for some, while others should steer clear of it all together. Let’s break down the how’s and why’s. Network Marketing Cons The immediate con that needs to be overcome by anyone thinking about jumping in, is your initial opinion. We all have visions of candle and makeup parties, while perpetually bugging the hell out of our friends and family to try and shame them into signing up into your organization. Is this the truth for some?...
Staying Focused vs New Ideas

Staying Focused vs New Ideas

ShareIf you are like me at all, you constantly have a flow of ideas for new businesses, websites, and more. While a creative mind is a fantastic thing for anyone looking to be income independent, it can also be an Achilles heel. The prioritization of current projects with planning and starting up new ones can be daunting even for the most seasoned entrepreneur. So how do you go about juggling everything while maintaining productivity?  This could be a very complicated answer but fortunately for you, I’ve spent the time in your very shoes to provide some tips on how to manage it all. 1. Don’t Bury Yourself Let’s say you are currently running two different projects: a drop shipping business and a niche e-commerce store. The drop shipping game has been running smoothly now that you have the process down and you are starting to finally get some organic traffic to your niche c-commerce website. Now you’re itching to fire up something new and shiny. The allure of new is always going to be easy to fall for. First you need to step back and really give your current operations a good review. Can they operate well with you giving them significantly less face time? Remember when starting these off, how much work was involved in getting them set up and running correctly? You will need to be able to take time away from them to get the hot newness going. Can you afford to take the hit in income or will they continue to run smoothly? Only when your current lines of business are taken care of and can run for a...
10 Tax Tips for New Business Owners

10 Tax Tips for New Business Owners

ShareTax season is upon us, but as a new business owner you must realize that all year is actually tax season. Keeping these tips in the back of your mind will keep you ahead of the game and organized when it comes time to officially file. While reading through this list remember that these are just general tips and should never take the place of advice and guidance from a seasoned tax professional. So before launching any strategy or taking any deduction, consult a pro so you don’t get in trouble with the man. This may be a lengthy read for some, but taking the time to learn how to properly file taxes as a new business owner is worth the extra couple of minutes. 1. Business Structure How you set up your business will effect how you pay taxes on your income. As a sole proprietor you will pay self-employment taxes on the entire amount that you earn. If you decide to go the LLC route, you can then elect what to be treated as a “S Corporation” or “S Corp” for short, which can help reduce your self-employment taxes. You can do this with an S Corporation because you are allowed to pay yourself a “reasonable” salary, which is subject to employment taxes such as FICA, Medicare and Social Security, and then any remaining profits can be taken as a profit distribution or “dividends”, which are not subject to to those employment taxes. For example, you are a web designer and as a sole proprietor made $50,000 last year. You would have to pay employment taxes on the whole...
Beginners Guide to Amazon Associates

Beginners Guide to Amazon Associates

ShareOne of the most popular affiliate programs around is Amazon associates. Stop just buying from Amazon and start getting paid to sell their endless list of products. One of the easiest ways to get started with an online business, is through affiliate programs. One of the biggest ones out there is the Amazon Associates program. The overall concept is pretty simple, sign up with the Amazon Associates affiliate program and earn commissions by sending Amazon customers. Like any internet marketing platform, the name of the game is traffic. When trying to make money online it’s all about the numbers. Amazon Associates is no different, but because of the huge quantity of different products, it’s very easy to carve out a niche to test and promote. If you don’t know how to research and find niches, head over and read our article on how to chose profitable niches first, then come back here. After signing up, review their commission structure for all of the various categories of products. Most start at 4% and some can get as high as 15%. Typically the more products you can get sold, the higher the commission rate, though there are some categories, like electronics, that will limit you to 4% regardless of quantity. This is because of Amazon’s very thin profit margins on things like TVs, tablets, and more. Once you’re familiar with what you can earn and you’ve found a niche to test out, it’s time to start building your website. Ranking naturally, or organically, is going to take some time and work, so you need to think about how you want to drive immediate...
Getting Started with Google Adwords

Getting Started with Google Adwords

ShareIf you have been reading about internet marketing and making money on online, chances are that you have heard about Google Adwords. If you haven’t, I’ll sum it very quickly for you. Google Adwords are the sponsored ads you see all over the internet, whether it be on a website as an ad displayed alongside content, or the sponsored ads that you see above, beside, and below the search results, also known as the organic listings, when you search for something on Google. Becoming proficient with Google Adwords can open a huge door of opportunity for you while you build your internet empire. It provides a way to get your site or products in front of people, on the first page of search results, while you wait on your website to slowly climb the ranks of the results pages via search engine optimization (SEO). Experts in the field of pay per click (PPC) marketing can spend years learning the ins and outs of Adwords, but as you get started with it, there are several things that you should know immediately. So in my 8 years of being a PPC analyst and after creating and managing almost $6 million dollars in Adwords spend, below are some of my tips for any beginner in PPC. Be Specific Adwords will work infinitely better for you if your ads and keywords are all highly targeted and specific to what you are trying to advertise. It may seem like a no-brainer, but let me explain this. Of course if you are selling mens shoes, you are not going to write an ad for ladies jackets....
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