It all starts with an idea. You find an online money making method you think you can make money with and you discuss it with some friends over beer. By the next morning you’re convinced that the time has come to quit your job and make a million dollars online within six months.

Haven’t we all been there?   And yet, something happens after the initial inspiration.  We wake up the next day and go to work as usual and the idea remains just that, an idea.

This happens because people don’t spend time choosing their online money making business model.

Which Online Money Making Method Are You Planning To Choose?

This may seem like a simple question to ask, but the answer is far from simple. Choosing an online money making method is almost as bad as trying to decide which planet you’re interested in traveling to. Well, that probably would be an easier decision.

On the face of it, things may seem simple enough. What’s the big deal? Mr X has achieved success with affiliate marketing – I’ll go with it; or Mr Y is doing great with his own products – that’s the route I wish to take.

Yes, Mr X and Mr Y are doing well, but that doesn’t necessarily mean that you’d hit a home run with those models too.

This is the reason I keep telling everyone, “What works for one person may not necessarily work for someone else…please test for yourself.”

There’s a lot involved in going from a beer-night CEO to a successful online business owner.

Each person has different results with the same model. Why does this happen? Why does a well laid out plan work for Mr X but not for Mr Y?

 Human variable! 

In every situation, each person brings with them their own skills and interests, as well as weaknesses. I may have many skills, but I do have weaknesses too. In order to make a success of a specific method that involves my weaknesses, I have to work on them. If I overcome them, I’ll be a success, if not; I’ll just forgo the method.

We’re not super humans and we’re not blessed with miracles. So even if someone tells you to do something because it works, you have to look at it from your perspective.

The advantage you have as a potential online marketer is that you don’t need to have a flash of some off-the-wall inspiration or idea. You can just follow one of the established money-making methods and make a success of it.

That’s the reason choosing an online method involves taking into consideration several elements. Let’s talk about some of the most important ones here.

#1 Working Parameters 

Before you begin evaluating the different Internet businesses, establish your working parameters. Clearly define the number of hours a day, week or month you’re willing or can put in to your business. Define the amount of money you’re willing or afford to invest.  Define what you’ll do if the plan backfires.

For example, if you’re getting into sales copy writing, you can be sure you’re going to have a heavier schedule than someone who’s selling eBooks as an affiliate.  With freelancing, you get paid only when you work. With affiliate marketing, you make money by doing the initial hard work and then regular maintenance of your web pages and promoting them.

It’s a good idea to analyze and if possible discuss these things with someone close to you before you set them in stone and choose a method to make money online.  If you can only spare an hour a day, contrary to what others may say, it’s going to take time to build your business and achieve the success you’re aiming for.

#2 Expectations 

Define your goals. You will make a note of what you want to achieve with your online business. What sort of an income are you looking at generating? How much are you expecting to make in a day, week, month or a year?

If you’re looking at making a minimum of $10,000 per month, you want to choose something that has the potential for this kind of money. You will either have to know how to sell 10,000, $1 items or sell 10, $1000 items.

Take the time needed to assess the profitability of each money-making method and then decided based on your expectations.

The amount of income you desire is impacted directly by the business method you choose.

Which Online Money Making Method? to be continued.

Tomorrow we will continue this article and discuss more considerations when choosing the right type of online money making methods to focus on.