People often ask me “What is the fastest way to make money online?” While there are many get-rich-quick schemes floating around, my suggestion is to start building an informational product or blog around a niche you already know. Typically, this is a subject related to your current profession, or a hobby that you are passionate about. Eventually you can branch out into niche’s that are more profitable, but to start out, it’s best to work on something that you know a lot about or excites you in some way. This will prevent you from burning out early on and limiting your potential.
For me, it’s Storage Auctions. I have years of experience and have spent the past 6 months writing an e-book that I plan on launching soon, as well as a video course to go along with it. It’s a lot of work, but if you’re truly passionate about the subject, as I am, then it should be a lot of fun. Keep reading to find out more…
How to Make Money with Your Current Knowledge
First, let me tell you a story about myself. Six years ago, I had a passion for deals and found a way to get everything I wanted for up to 90% off. I found a strategy that worked time and time again and allowed me to save 50% on average. My friends would often ask how I could afford to have so many nice things, and I never had a problem telling them. I thought it was simple, but for them it was a mystery.
When you have knowledge that other people don’t, you are suddenly at an advantage. You have something they want, and if you are smart, you can profit from sharing that knowledge. For me, that came in the form of a free e-book and website full of affiliate links to my favorite secret destinations. Because I had so much information and passion, I was able to write my e-book in just under a week. The website took me a bit more time to learn, but I put my nose to the grindstone and busted it out.
I sent my e-book around to all of my friends, and told them to give me an honest review so that I could make it as informative and easy to follow as possible. After getting a lot of feedback, I was able to add some new chapters that I had not thought of, revise some chapters that were confusing, and fix quite a bit of spelling and grammatical errors. Eventually I had a solid product and sent it off into the vast expanse known as the internet.
Before I knew it, thousands of people had downloaded my e-book and my website was getting 100’s of visits per day. Almost immediately, I was making money online. From start to finish, I put roughly two weeks of work into this project and made money for almost an entire year. If you have knowledge and passion, you can follow a similar path and start making money just as quickly.
Unfortunately, I wasn’t as smart back then as I am now and I let everything sputter down and fade away. The saddest part is that I let my domain expire and my e-book was recently lost in a hard drive failure. Surprisingly, I can no longer find my book anywhere on the internet and my friends and family all seem to have deleted their copies long ago. I recently checked on re-registering my domain but now it is listed as “premium” and is on sale for a few thousand dollars thanks to my effort 6 years ago!
The morale of the story is this: You don’t have to be the absolute best at something to make money online. You just need to know more than the average person, and because everybody has their own interests, odds are that you know more about yours than they do. Wherever there is a desire to learn, there is money to be made if you have the answers.
Lesson number 2: Don’t give up on your passion! I know it sounds cliche, but everybody does it, and everyone regrets it. Even if you only have a couple hours per week to devote to it, that’s better than throwing in the towel and giving up forever. Who knows where I’d be financially if I expanded on my previous success instead of letting it slowly slip away.
How to Find out What You’re Passionate About
If you’re having trouble identifying what you are passionate or knowledgeable about, here are some questions you can ask yourself:
- Finding Your Skills
- What do you do for work?
- What do you know a lot about?
- What do you know that others don’t?
- What experiences do you have?
- Finding Your Passions
- What do you look forward to?
- What do you love doing with your time?
- What are your favorite hobbies?
- What do you dream about?
Instead of just reading these questions and answering them in your head, take action and write your answers down. Remember, we are not passive dreamers, we are taking action!
Making Money When You’ve Tapped out Your Experience
For now, it’s best to focus on knowledge and passions that you can immediately turn into a product. Whether you create an e-book, blog, video course, affiliate website, or your own product, there is always something deep within you that you can turn into profit.
After you start making money with your current skills, you can start to branch out into unknown territory. You will most likely develop your own system for product creation, marketing, and sales that you can use over and over again to make money in any niche. The key to selling information is to know more than your target market. In time, you will develop the skills to research and transform any niche topic into a product that sells.
It also helps if you keep a list of ideas for future products so that you don’t forget them when inspiration strikes. For example, in my Scrivener, I have a folder called “Ideas” with the following sub-folders: App Ideas, Book/Course Ideas, Product Ideas, Service Ideas, and Website Ideas.
I’ll tell you the truth right now. Ideas are a dime a dozen. Only by taking action on your ideas do they ever attain any real value, and that’s the fastest way to make money online. I would love to start working on all of them simultaneously, but it’s best to do one at a time so that you can focus all of your energy on it. Presently I’m split between my affiliate website and my Storage Auction book launch and video course creation.
I’m pretty sure I’ve bit off a bit more than I can chew, but I just keep pushing forward.