Tuesday, July 15, 2008

An Insider's Secret to Making Money While You Sleep

There’s nothing like waking up in the morning, logging into your online business and seeing that $1,000 came in during the night…from people around the world that you don’t know… and never saw. Can you imagine that happening to you?

Think about going to bed tonight and waking up with a bigger bank account tomorrow morning.

It’s not that hard… if you know the SECRET.

As a matter of fact it is easy, because of the magic of “technology.”

The Internet lets you reach billions of people around the world and deliver them valuable information, information they’re very happy to pay you big bucks for. And the information they want (reports, ebooks, newsletters, ecourses, software, music, videos, etc.), costs you only a few pennies to deliver. Best of all you don’t even need to create the information to sell, just sell somebody else’s information and collect commissions.

That’s called affiliate income. And it’s not a new idea. As a matter of fact, hundreds of thousands of people make five and six figure incomes doing just that. Last year their affiliate commissions topped $8 billion. Yes, with a “B”.
The secret is “automating the process.”

Creating an online business requires four components. (1) The PRODUCT you’re selling, (2) the TECHNOLOGY infrastructure to operate the business, (3) getting TRAFFIC to the business, and (4) CONVERTING that traffic into customers and collecting their MONEY.

Most people think that if they have a product and a website, they can make money online. While it’s possible, it takes a lot of time to manage all the various activities required and you don’t get much sleep in the process.

While an online business looks simple, there a lot of thing going on that need to be managed by computers and software.

First you need to have a hosting account and webserver that operates your website and let’s people access it from the Internet.

Then you need to have a SALES PAGE that describes and sells your product or service. You also need an OPT-IN PAGE and AUTOREPSONDER to collect visitors names and email addresses to build your LIST. Then you need to put AUDIO and/or VIDEO on your sales page to increase the percentage of buyers.

Then you need some way to track your TRAFFIC so you can maximize your advertising dollars. And finally, and most importantly, you need to a way to measure and continually improve your CONVERSIONS (the percentage of buyers).

(The biggest reason people don’t make money with their websites is that they don’t measure and improve their conversions. Measuring and improving sales page conversions is done with SPLIT-TESTING. Split-testing is creating two different versions and testing which version converts better.)

Typically all these functions are done with separate software applications that are expensive and time consuming to manage, keeping you up late at night.

Since your time is your most valuable asset, you don’t want to waste it managing technologies.

As Alex Mandossian, the very successful Internet marketer, told me during a mentoring session, the key to making money online is simple.

Don’t spend any more than 10% of your time on technologies, so you can spend at least 90% of your time on getting TRAFFIC and CONVERTING it into customers. That’s where the money is made.

There are ONLY TWO WAYS to accomplish that goal. (1) Hire a webmaster to set up and run the technologies you need, which can be quite expensive, or (2) Get an integrated system where all the software applications have been combined to work together as a complete business engine. This is called automation and is the SECRET to making money while you sleep.

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Wayne Van Dyck is the founder and principal of Six Degrees Media in Sausalito, CA. He is also the creator and developer of Smart Money Websites, the first complete, Internet Business-In-A-Box. If you would like a copy of Wayne's e-book, "How to Make Your First $50,000 Online" please CLICK HERE.

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