Sabtu, 13 Agustus 2016

What is Affiliate Marketing?

Affiliate marketing is one of the most popular ways to make money online. This type of business is when you as the affiliate marketer, promotes another company's product or service. You then can earn a percentage of the sales or a set dollar amount. This is your commission, which is paid by the company or merchant.

This method is a great way to earn a substantial amount of money online with hard work and determination. There are many reasons why you should choose it as a long term business venture. Read on to learn more. This is a good read for someone just getting started in the affiliate business.

How Does the Affiliate Business Work?


Here are a few basic steps to get started:

  1. Set up your affiliate website, if have not already
  2. Search and choose a product or service related to your affiliate website's niche
  3. Once you have found a product, sign up with that company as their affiliate
  4. Implement the personalized code that the company has provided to link to their website
  5. Promote and market the product you have chosen

Of course there is a lot more to it to be successful as an affiliate marketer, but this gives you a good idea on how to get started. Even other affiliate marketers didn't become rich overnight. Success in this business takes time and hard work, but it's worth it.

The Benefits of Becoming an Affiliate


Affiliate advertising is very beneficial to both the merchant and the affiliate. The merchant benefits because his product is promoted by the affiliate to a much large market, saving him both time and money. The more affiliates the merchant obtains, the more sales he can expect.

The affiliate benefits from earning a commission from each customer that clicks the link in his website. And who actually purchases a product from the merchant or signs up for a service. This method is cost efficient and delivers long term results for both the affiliate and merchant.

Other benefits for the affiliate:



  • Excellent way to earn money while at home
  • No production costs, since the product is already developed by the merchant
  • Affiliate programs are usually free to join
  • There are thousands of products and services to choose from, relevant to your site
  • You do not deal with customers
  • Minimum risk, if a product is not selling, simply choose a new one


Multiple Streams of Income


I strongly recommend that you have more than one source of affiliate income for your online business. Creating multiple streams of income is a good way of securing your business's future. If one source of income stops coming in, you have other income to look forward too.

Also, the affiliate business is one of the most desirable ways to make multiple sources of income. This is because there are various affiliate programs that you can sign up for. You also want to give your visitors a variety to choose from. With that said, never put all your eggs in one basket.

Most Common Affiliate Mistakes


  • Believing that it will bring you great fortune overnight
  • Not knowing the product's market and targeted audience
  • Not creating a search engine optimization website
  • Thinking you don't have to market your website for exposure
  • Not providing quality, informative content on your web pages
  • Feeling your site with too many banners
  • Only having one product or service to promote

These are just a few common mistake made by affiliates. These mistakes are due to the lack of research and knowledge involved with the affiliate profession. With that said, if you do not do your homework, you will be destined to fail in this business. To avoid mistakes, click here to read my article on why some fail in the affiliate business.

Summary


Affiliate marketing is a great opportunity for both the merchant and the affiliate. If they work well together, both can be successful and benefit from this venture. An affiliate profession is easy and inexpensive to get started in just a few days.

Don't' get me wrong. It's easy to get started, but there is still a lot of hard work ahead to be successful in this business. Always have a multiple stream of income coming in to keep your business stable. If you can avoid some of the many mistakes that are made, a career as an affiliate can be very rewarding.

Click here to view Affiliate Masters Course eBook. It has a lot of information on how to become a successful high earning affiliate.

Creating a Business Plan

It's imperative that you have a business plan to map out the goals of your online business and how you will achieve them. It's also critical to the success of an internet business or any type of business for that matter. A strategic action plan needs to be set in place for some sort of direction and guidance.

Writing a plan can be a complex task. But if you have some idea of what your business represents and how you want to run your business. Putting your plans down on paper would be much easier. If not, seek professional advice. Let's discuss the different components of an internet business model for a better understanding.

Who Needs a Plan?


If you are applying for funding for your business, it would be very beneficial for you to have an action plan. You want to show that you have a strong structure of a business and show profitability. Also, you want a written plan to give your business the best possible chance of being a successful one. In addition to a few more items listed below:


  • To make planning manageable and effective
  • To attract sponsors
  • To stay in-line with your business goals
  • To reveal weaknesses in your planning


What Is A Business Plan?


A business plan is needed to set goals for your business and put forth a plan to accomplish those goals. In your small business plan you would:


  • Explain what your company is about
  • Clearly define the products and services that are offered
  • Marketing strategies and operational plans
  • Talk about your management team
  • The market and financials
  • What kind of return you expect

You should look at your plan as a blue print to build a strong foundation and the end result would be a successful business.

Writing a Detailed Internet Action Plan


Before you get started writing your internet action plan; take some time and gather the following information:


  • What is your company all about?
  • Your marketing plan
  • Who is your competition?
  • Who is your targeted market?
  • Research on your targeted market
  • Details on your products and services
  • Financial statements


Steps to Writing Your Plan


1. Start with writing an executive summary about company. Include the following:

  • Give a summary of what your company is about, provide some background
  • Describe your products or services in detail and what makes them unique


2. Talk about the company's operations and management plans

3. What do you have to offer? Talk about your products and services

4. Ad an internet marketing plan. Explain your marketing strategies and how you will promote your business

5. Talk about your targeted market, do a market analysis

  • Show trends in that field
  • Show demographics
  • Discuss your customer base or who your potential customers may be
  • Discuss buying habits


6. Add a section about your competition and what sets you aside from those companies

7. Add a financial section

  • How much will it cost to start your business?
  • What are your financial plans?
  • Include a 3 year balance sheet
  • Break even analysis
  • Cash flows for your business
  • Investments and loans
  • Explanation of projected revenues
  • How much you plan to spend to keep your company running


8. You should add a mission statement. How will your company accomplish set goals? Also include:

  • What does the future hold for your business?
  • Provide milestones to give a visual of how you plan for your business to succeed


9. If you are applying for funding, make sure to attach pertinent documents needed for financial consideration, such as:

  • Cover sheet
  • Tax returns
  • Table of contents for your professional plan
  • Information on people involved in your business
  • Anything you feel important to obtain funding

Other Supporting Documents


  • Personal Resumes
  • Owner's Financial Statements
  • Credit Reports
  • References
  • Contracts & Other Legal Documents
  • If applicable, Copies of Leases, Purchase Agreements, etc.


Summary


A well written business plan is essential to your business's success, not to mention it can assist you in gaining the financial support you need. The key to a good plan is to convey how you will accomplish your business goals and what sets your company apart from competition.

Use some of the ideas above I have outlined to get started writing your plan. If writing is not your thing, then hire a professional to write your plan for you. If you do decide to write your own plan, it needs to be easy to read and organized by sections. You should keep your plan updated to reflect current progress. Also, your plan will change over time, so always reevaluate it to see what's working and what is not. Stick to your goals to make your business a success.

For more information, visit this website to view samples of different types of business plans.

Kamis, 11 Agustus 2016

Internet Business Laws & Requirements

There are internet business laws and requirements you should consider when going into business online. Below is some useful information on legal tips and business structures.

Now, I am NOT a lawyer and this information does not constitute as legal advice. This is just some common business knowledge that can be uncovered with some research. Do not risk your business's future by not abiding by rules and regulations. Also, you want to explore all options before selling products on the internet.


Internet Business Law Consultanting


You need to recognize legal issues before they arise in your business. Since the laws of operating an online business changes constantly. I recommend consulting with a lawyer who specializes in internet business laws. It's important that you understand the consequences of the laws regarding your online businesses.

For example, if you want to sell internationally, some products may not be permitted to sell internationally. A professional can explain the international commerce laws to you as well as local laws. You don't want to end up paying out money you did not intend too.

Terms & Conditions for Your Website


Terms and conditions or disclaimers are agreements between your business website and your visitors. Your terms and conditions should probably consist of provisions, requirements, specific rules and certain standards that will form a binding document. Make sure you have clear terms and conditions for your online business. Be sure to include policies for shipping, refunds and terms of service policies. In addition to a privacy policy if you intend on gathering customer data.

Choosing Your Online Business Structure


Which organization will you choose for your online business? How will you do business? This is something else you will need to consider when dealing with internet business laws and business structures. Depending on the type or size of your business you would probably choose from the following:

  • Sole proprietorship is a type of business which is owned and run by one individual and is easy to set up; it is the simplest structure, but is subject to taxation. Income or losses are reported on individual tax returns. This structure is not registered with the state as a LLC or corp.
  • Limited Liability Company is more flexible and there are no ownership restrictions; it gives you a blend of partnership and corporate structure. You are the owner and are limited from personal liability of debt. You must file with the state.
  • Partnership is an agreement between two or more parties to run a business as co-owners. All parties are responsible for taxes from losses or income on their personal tax returns.
  • C Corporation is a corporation that is an independent entity that is separate from the individuals that own or manage it. You must file with the state.
  • S Corporation is similar to C corporation, but this corporation can eliminate the disadvantage of double taxation.

Paying Your Taxes


Even if you have an online business you are still required to pay federal taxes. Depending on the structure you choose you will be taxed differently. So choose your business structure with thorough thinking behind your decision. Visit your local government site to find out your structure's specific requirements. Contact a lawyer or accountant if you do not completely understand the taxes that are required for your business. Understanding taxes for your online business can get a little complicated.

Useful Terms to Know


  • Copyright is when the creator of the original work has the exclusive rights to print, distribute or publish the work.
  • Trademark is a sign or symbol used to identify the products or services to consumers and the trademark distinguishes the products or services from those of other companies.
  • Privacy Policy is a document that explains how customer information is gathered, used and managed.
  • Business License is a permit issued by your local government to do business within the government's geographical jurisdiction. License requirements vary from state to state, so be sure to contact your local government for guidance.


Summary


There are many internet business laws and requirements that you need to implement to protect your business. Make sure you business is legal, file necessary paperwork. Research the different business structures and choose the one that's right for you. You should have clear terms and conditions or disclaimers. And remember, even if you have an online business you are not excluded from paying your taxes.

For more information visit Nolo.com for more legal guidance and information. Also, check out this book, "Legal Guide for Starting and Running a Small Business", by Fred S. Steingold. It could be a big help at answering questions you may have about starting your own business.

Blogging Your Business

What is a blog or blogging? The word blog was derived from weblog. In the beginning blogs were used for personal use. Now bloggers are discovering that blogs are valuable for so much more. The nice thing about blogs is that you do not need any HTML or PHP skills to create one. It's as simple as adding content and publishing your blog. Pretty simple, huh? Well, let's see what else you need to get up and running.


What Is Your Topic?


What should your money making blog be about? What kind of information should you provide? I am not going to get into many details on finding a topic. I suggest you refresh your memory by reading "How to Find Your Niche". It's no different in finding a topic for your blog. Just remember it needs to be a topic that you know very well. And with any idea you come up with, that there are enough people searching for the topic you have chosen.

A Remote or Self Hosted Blog


Where are you going to host your blog? There are two options to look at, remote hosted or host it yourself. Here are advantages and disadvantages of both:

Remote Hosted Blogs


You can have your blog hosted by an external resource, for example Blogger.com. They offer a free service to build your blog on their server. All you do is:

  1. Sign up and log in
  2. Choose a name and URL for your blog
  3. Choose a template and fill in your content
  4. Publish it and that's it! Go Blogging!

Advantages:


  • No cost to use this service, it is completely free
  • It is easy to create your blog, no HTML experience needed

Disaddvantages:


  • Your URL ends in blogger.com, which may not represent the professional image you want
  • Limited amount of control on your site, your blog account can be canceled without any reason at anytime
Sidebar: When it comes to your online business, it's very important to have full control and own your own site.

Another Remote Hosting Option


WordPress is open source blog software powered by PHP and MySQL which can also be used for content management. In my opinion, you will give off a much more professional looking impression to your visitors or potential customers. I will show you later why WordPress may be the better option for blogging.

Self Hosted Blogs


In the interest of being professional, I recommend that you set up your blog under your own domain name that is hosted by a web host. Your own domain name gives the impression that you mean business. For more information, take a moment to review, Choosing a Domain Name" and A Hosting Service for Your Online Business.

Advantages:


  • A host offers a cPanel which provides automation tools for web hosting usability
  • With a reliable hosting company, there are no worries about down time

Disaddvantages:


  • It's not a free service, but free is not always good
  • There is some software to install, but if you are not afraid of work this should not be a problem

Using WordPress


You can self host WordPress software for your blogging needs using your own domain. In fact more hosting companies offer the application already. You can also download and install it yourself by visiting WordPress.org. Also, please see this free ebook with instruction on how to install the software as well other useful information. At any rate it's easy to use just:

  • Log into your hosting account
  • Click on software then find WordPress
  • Click on link to install
  • Once installed you will get a general page
  • You should choose a theme for your blog that suits your subject
  • Once you find a theme, download to your computer and use FTP to upload your files to your server

Making Your Blog Search Engine Friendly


To make your blog search engine friendly, it's important that you have keywords related to your market. You have to give the search engines what they want. Add written content that is rich in the keyword phrases that you will find by research. Your site will have the potential to show up in the top search results when people search for the information you are offering. I will discuss more on keyword marketing later, but I wanted to touch on this subject here as well.

Summary

Have you decided to start blogging? These are just some of the popular options when using a blog for your online business. Keep in mind you have two options to host your blog: remote or self hosting. The more reliable option is self hosting your blog for professionalism. Review the advantages and disadvantages and make your choice. If you choose self hosting, WordPress may be your better option.

Remember you are creating a real business. As long as you are willing to learn and put in the work, there is no reason why you can't start a successful online business blogging.

Rabu, 10 Agustus 2016

What are Affiliate Networks?

Affiliate networks or an affiliate marketing directory are made up of two groups, the merchants and the affiliates. The network is a third party that brings these two groups together to form an affiliate marketing partnership. The network also provides the merchant's campaigns, offers, collects commission fees from the merchant and pays the affiliate as well.

Associate networks can be a great resource and they are free to join. Here I will discuss the advantages and disadvantages of using a network and tips on selecting the right one for you.


Choosing a Network?


There are a lot of options on the internet to choose from when looking for affiliate marketing companies. Like everything else concerning your online business you have to do your research. Before you join an affiliate network you need to ask questions. You don't want to get involved with a network that does not offer quality affiliate programs. A couple of networks I would recommend are Clickbank and Commission Junction .

Here's why...

Clickbank offers up to 75% commission in some of their programs. They have thousands of information products to choose from, such as eBooks and software. But you have to be careful. Some of the products are not of quality, but overall its' a good network to join. And once you join you can immediately start promoting products. Clickbank is simple to use and you also get:

  • Combined commissions
  • Weekly pay outs
  • You can request direct deposit
  • Or request a check to be mailed

Commission Junction is similar to Clickbank in regards to offering a large amount of products, if not larger. They have brand name tangible products. When you join, CJ and/or the merchant will check your site for website approval to be sure you are offering related products. There is a minimum of $50 for direct deposit and $100 for a check to be mailed.

Advantages of Joining Affiliate Networks


  • Descent customer support
  • You typically pay nothing to join a network
  • You have access to a large number of merchandisers and programs, simultaneously
  • Saves time and networks are convenient, you can monitor multiple programs
  • You can easily track your sales results and performance
  • You can get real time statistics of visits and sales
  • Easy access to how much commission has been earned
  • Commissions are paid directly through the affiliate network and not the merchants


Disadvantages of Joining Affiliate Networks


  • Sometimes waiting for your payment can take up to a month
  • Some networks have minimum quotas you have to meet before getting paid
  • All links go through the network
  • Having too many merchants to choose from can be time consuming
  • Some of the products can be of poor quality

These are just some of the advantages and disadvantages of joining business networks. Make sure you choose wisely when joining an affiliate marketing directory or network. I recommend writing down all the advantages and disadvantages for any program you are considering. Take your time and choose the right network for you.

Multiple Affiliate Programs


Joining multiple affiliate programs is both convenient and rewarding. While you shouldn't have your website overwhelmed with banners and links, having a great selection of quality programs is a good thing. Choose multiple merchants to give your visitors a variety to choose from.

Using multiple merchants in the same niche could mean steady multiple streams of affiliate income. Multiple programs can secure your business in a way that if one product or service is no longer available, you have other options to fall back on.

Summary


Affiliate networks are great affiliate marketing resources to help grow your business. So choose wisely when searching for a network or joining one. You can find some of the top affiliate programs in a business network. Be sure to weigh the pros and cons of joining a network and make a decision that better suits your needs.

What is The Affiliate Business?

The affiliate business is one of the most popular ways to make money online. This type of business is when you as the affiliate marketer, promotes another company's product or service. You then can earn a percentage of the sales or a set dollar amount. This is your commission, which is paid by the company or merchant.

This method is a great way to earn a substantial amount of money online with hard work and determination. There are many reasons why you should choose it as a long term business venture. Read on to learn more. This is a good read for someone just getting started in the affiliate business.


How Does the Affiliate Business Work?


Here are a few basic steps to get started:

  1. Set up your affiliate website, if have not already.
  2. Search and choose a product or service related to your affiliate website's niche.
  3. Once you have found a product, sign up with that company as their affiliate.
  4. Implement the personalized code that the company has provided to link to their website.
  5. Promote and market the product you have chosen.
Of course there is a lot more to it to be successful as an affiliate marketer, but this gives you a good idea on how to get started. Even other affiliate marketers didn't become rich overnight. Success in this business takes time and hard work, but it's worth it.

The Benefits of Becoming an Affiliate


Affiliate advertising is very beneficial to both the merchant and the affiliate. The merchant benefits because his product is promoted by the affiliate to a much large market, saving him both time and money. The more affiliates the merchant obtains, the more sales he can expect.

The affiliate benefits from earning a commission from each customer that clicks the link in his website. And who actually purchases a product from the merchant or signs up for a service. This method is cost efficient and delivers long term results for both the affiliate and merchant.

Other benefits for the affiliate:

  • Excellent way to earn money while at home.
  • No production costs, since the product is already developed by the merchant.
  • Affiliate programs are usually free to join.
  • There are thousands of products and services to choose from, relevant to your site.
  • You do not deal with customers.
  • Minimum risk, if a product is not selling, simply choose a new one.

Multiple Streams of Income



I strongly recommend that you have more than one source of affiliate income for your online business. Creating multiple streams of income is a good way of securing your business's future. If one source of income stops coming in, you have other income to look forward too.

Also, the affiliate business is one of the most desirable ways to make multiple sources of income. This is because there are various affiliate programs that you can sign up for. You also want to give your visitors a variety to choose from. With that said, never put all your eggs in one basket.

Most Common Affiliate Mistakes


  • Believing that it will bring you great fortune overnight.
  • Not knowing the product's market and targeted audience.
  • Not creating a search engine optimization website.
  • Thinking you don't have to market your website for exposure.
  • Not providing quality, informative content on your web pages
  • Feeling your site with too many banners.
  • Only having one product or service to promote.

These are just a few common mistake made by affiliates. These mistakes are due to the lack of research and knowledge involved with the affiliate profession. With that said, if you do not do your homework, you will be destined to fail in this business. To avoid mistakes, click here to read my article on why some fail in the affiliate business.

Summary


The affiliate business is a great opportunity for both the merchant and the affiliate. If they work well together, both can be successful and benefit from this venture. An affiliate profession is easy and inexpensive to get started in just a few days.

Don't' get me wrong. It's easy to get started, but there is still a lot of hard work ahead to be successful in this business. Always have a multiple stream of income coming in to keep your business stable. If you can avoid some of the many mistakes that are made, a career as an affiliate can be very rewarding.

Affiliate Marketing Failures

Affiliate marketing failures should be avoided as much as possible at all times. Since this business changes so much, you have to stay on top to be successful. Previously, I gave you a list of mistakes you could make in this business. Here I am just providing a little more detail. Below are some of the reasons why some individuals could fail at affiliate marketing.


Afraid of Hard Work

One of the most important reasons that an affiliate marketer would fail, is lack of hard work. Most do not want to put in the effort to succeed and they give up way too easy. If you have the passion to succeed you will work for it and most lack that passion.

The determination has to be there, and you have to be patient. Affiliate marketing works, but it doesn't skyrocket overnight. Be patient and don't give up. If you are not getting the business results you expected, continue until do. If you are afraid of hard work, don't even bother.

No Traffic


Need I say more? How can you run an online business without website traffic? You can't. Eventually your business will fail. Some do not advertise enough either to get traffic to their site. Or they are using the wrong keywords to attract targeted traffic. This goes back to my article on "Effective Keyword Marketing". Keyword marketing is a good way to get traffic to your website, but you have to do the work. The success of your business depends on the website traffic you are receiving.

No Business Plan


Among the list of affiliate marketing failures is lack of plan. Every business needs a business plan. Being an Affiliate Marketer is no different. You are still running a business and you need to plan on things like:
  • Funding & Budget
  • Products & Services
  • Advertising
  • Your Competition
  • Targeted Market
I lot of entrepreneurs bypass this step when starting a business, but that's a big mistake. Take your affiliate marketing business online seriously. After all you are starting a business to make a profit, unless you just need a hobby.

Lack of Research


Not taking the time to research your product can hurt your business in the long run. It's a waste of time and money. You should research the products you want to promote and the affiliate program you want to do business with.

Choose wisely when picking your affiliate programs ; make sure the products or services fit your site's concept. A lot of people choose products with high commissions that are not relevant to their website. You have to remember that people are looking for specific needs, so have the answers. Do your research until you come up with the best possible tools and resources.

First Impression Is Everything


Another reason why people fail in affiliate marketing is having a poor website . Your website needs to have easy navigation, simple website design and informative content. Don't make reading complicated for your visitors or they may not get pass the home page. Success with affiliate marketing will come much easier if you have the content that keeps your visitors coming back for more. For more information on writing, be sure to review, "Writing Content for Your Online Business" .

Knowledge is the Key


Get your hands on as much information as you can to avoid affiliate marketing failures. Never stop learning new ways to promote your products or services. There are a lot eBooks and articles on the internet to teach you how to be a successful affiliate. Take advantage of them.

Sometimes you have to change your way of thinking to make success a reality. I lot of people are stuck in an old way of thinking and are not willing to learn something new. Many fail because they don't grow in the business. If you want long term results, take the time to learn the bells and whistles of the affiliate marketing business.

Summary


The bottom line is, avoid as many affiliate marketing failures as possible. Consider everything I have mentioned here in addition to doing the research. Create a business plan and map out your business goals. Always learn different ways to make your affiliate marketing business successful, and never stop going.