So How do I Generate cash?
July 12th, 2007
There must be hundreds of ways to build cash-generating web sites. In fact just about any web site you build has the potential of generating money. You have to choose the method that best suits you.
There are a number of factors involved. First is the amount of work you want to put into your business. This begs the question of whether you are generating cash as a bona fide business or just something you dink around with as a hobby. If this is your business, then you should be willing to put more into it. If a hobby, then all you need to do is put something together, slap on some Adsense code and you are ready to go.
So, I will assume you are trying to build a business. Let’s look at a couple possibilities:
You can build a site around a product. There are 2 ways to accomplish this. Sell physical products or use electronic/downloadable products. Many people have made a lot of money with physical products, but these “catalog” type sites can be a real pain to set up and maintain.
The better way is a “virtual” or downloadable product. These are great because you have no inventory, no hassles with drop shipping, or any headaches other than if a download goes bad. And the web sites for these products are relatively easy to set up.
The best way to utilize a downloadable product is to build your own. This gives you the advantage of owning the profits and allows you to leverage your profit by using affiliate programs and joint ventures to market it. It gives you total control of how much you can profit.
Don’t want to hassle with product creation? You have a cornucopia of possibilities if you use someone else’s product. No I’m not saying copy it, but there is an abundance of affiliate programs out there that you can market and sell. With these you may not even have to set up a full web site. Many time all you need do is set up a “squeeze page” that directs the visitor to the product using your affiliate link. Many make a very good living selling other people’s products.
I will take a look at other ways to generate cash in future posts.
