7 TESTED WAYS TO CREATE MASSIVE WEALTH ONLINE IN 2019 AND BEYOND
According to the author Paul Walter, more and more people are using the internet to create businesses that:
Allows them to stop trading time for money
Get rid of debt
Achieve financial freedom
Live a life free of financial stress and anxiety
As internet expands globally more and more people are leaving the traditional 9-5 work in favor of work from home opportunities.
People are doing this because these opportunities provide:
- Better pay
- Financial, location and time freedom
- Peace of mind
Paul Walter’s guide discusses key techniques and strategies to create one or multiple streams of online income.
He presents the most recent strategies which when implemented diligently with consistency, passion and patience will allow you to create reasonable income in 2019 and beyond.
The author presents 7 winning strategies. They are:
1. Podcasting
He argues that with a globally connected world that is accessible at the click of a button our attention span is decreasing.
As a result podcasting is quickly replacing blogging and articles as best information dissemination channel.
Simply, podcasting is the transmission of pre- or live-recorded audio files over the internet.
A ‘podcast’ is the name given to the file transmitted, normally in a popular audio format such as MP3.
They are made available to subscribers of a specific podcasting channel.
The author gives key reasons why podcasting is quickly overtaking blogging.
- The first reason: We are living in a crazy-busy, hectic world. And since you can listen to a podcast, while doing other tasks like cooking, driving, exercising or commuting more people are now choosing to listen to a podcast over reading a blog post.
- Listening to podcasts is hands off and therefore mixable with other tasks.
- Paul argues that podcasting is where blogging was 10 years ago: Just about to take off.
- This means that those who get in right now will attract a massive following.
- This is based on the assumption that the channel created has an audience that demands superior audio content.
- Sometimes podcasting may work best with blogging because a blog offers content creators a central place to offer their podcasts.
- Once created you can repurpose the content of your podcast into a blog post thereby providing your customers with choices.
- Author recommends that you concentrate on podcasting in 2019 but add a blog for more effectiveness.
How to create online wealth with podcasting
You can couple your smartphone with a clear microphone and use this to create high quality podcast/audio files.
Step 1: Niche selection is key
Choose a topic for your podcast channel.
The profitability of a niche is an important thing to consider.
Choose a niche with a big enough audience that is consuming content on the topic and is actively looking for solutions for their pain points and most pressing challenges e.g. how to overcome procrastination and increase production can be successful with a proper structure and an effective content publishing and marketing strategy.
Step 2: Create a market
Keep your podcast alive by uploading content regularly.
Superior content that proves beneficial to the target audience will keep your podcast channel alive.
Create content your audience wants to hear and present it in an appealing way.
Keyword research will come handy here.
Book includes many links to helpful and necessary information.
Author points that together with content you ensure your audio/Mp3s are of the highest quality possible.
The general idea behind your marketing is to grow your audience.
Growing your podcast audience like blog audience takes time and therefore needs consistent action and lots of time.
Step 3: Monetizing
Use various strategies to monetize such as: sponsors & advertisers.
You can also offer digital products such as eBooks and video courses.
Earning potential depends on the niche, size of the audience, engaging content, market and SEO, and monetization strategies.
A successful podcast can generate $2,000 per month.
2. Affiliate Marketing
This is a tried way to generate income online.
It is relatively easy to implement because it does not require you to create merchandize.
You market other people’s products and services.
When they click on your special link you earn a percentage of the sales price.
It is one of the most lucrative and long-term ways to create online wealth.
Implementing requires a fair amount of work upfront.
A blog though not required gives a central place from which to work.
There are several ways to promote products and services of other people.
To be successful as an affiliate you need to practice ethical marketing.
To create trust you should promote products you personally use.
If the product or service does not solve the problem of the customer this will compromise the trust of the customer.
The income potential – with affiliate marketing, the sky is the limit. You can create a business or multiple affiliate marketing business that generate as much revenue as you want. All you have to do is to implement the process which to recap is:
- Select a niche
- Create website/blog and an online community around it by publishing valuable content.
- Market the content to grow your audience
- Partner with products or services that will help your audience solve their problems or challenges.
3. Freelancing
It is one of the lucrative online businesses available. It is so lucrative that millions of freelancers around the world generate upwards of $5,000 from it each month.
First a freelancer is a location contractor who offers his or her services for a fee and in most cases, on a project-to-project basis.
The best thing about freelancing is its location independent nature. As long as you have valuable and marketable skills, you can offer it as a freelance to businesses that are willing to remunerate you very well for the chance to use your services to run or grow their businesses.
2nd outstanding advantage: it’s diversity you can create great content using different platforms such as iWriters, Upwork, Fiverr, and tons of others.
Other services by freelancer in Fiverr for example include creation of animations, create photographs, proof reading and editing content among others.
Beauty of freelancing: allows you to set up a personalized work schedule and hence can treat it as a 2nd job you pursue to enhance your earning potential and get out of debt faster.
Another great point is the ease with which you are able to find someone who is willing to pay you handsomely for your experience and skills.
4. Peer to Peer Lending
This is a hands-free way to generate income and create wealth.
Only catch – it requires upfront monetary investment – initial amount varies from platform to platform.
P2P is a form of lending that removes intermediaries from the debt financing process so that borrowers can borrow money directly from investors for an agreed upon interest rate.
It has its fair share of risk – defaulted loans for example.
It offers better income potential compared to bank interests.
How much interest your investments generate depends upon the type of loan you choose to fund and the platform you use.
High-risk loans have better rates but the downside is they also have a high default rate.
For high interest rates with high-risk loans invest only what you are okay loosing.
For best wealth creation, go for a mixed portfolio of high and low-risk loans so that you can have both safety and enhanced revenue potential.
Depending on the loans you choose to fund, you can generate over 10% in interest (annual).
5. Digital Products
The world we live in is constantly moving away from physical products.
For example, Kindle books has far outpaced sale of physical books.
Digital products – products you can sell online without the need to ship to a physical address.
Example: videos, courses, eBooks,, music, themes.
Also called information products, they eliminate distribution and shipping costs.
They have a multiplicity effect; once you create it you can sell it to millions of customers perpetually for as long as there is an audience for your digital product.
You either create your own products or create an affiliate marketing business centralized on digital products.
When you affiliate yourself to digital products you earn commission from the sale.
Potential – Assuming a digital product has a ready audience, you can sell/market it and profit from it.
6. Amazon FBA
If you want to create an online business that starts creating wealth in the shortest time possible, Amazon FBA, fulfilled by Amazon is your choice.
Understanding Amazon FBA.
Amazon FBA – the largest online store – program allows third party sellers to capitalize on Amazon order fulfilment process and infrastructure.
Third-party sellers do not keep inventory.
They label their units (merchandize) and ship them to Amazon Warehouses – called fulfilment centres.
They then list these units for sale on Amazon, and when consumers order products, the fulfilment system at Amazon handles the other elements such as packaging, shipping and customer service.
To start with Amazon FBA, all you have to do is to go to the seller central web page and sign up.
Amazon categorizes different sellers by how they source their products.
Most common Amazon sellers are Retail Arbitrage (RA), Online Arbitrate (OA), drop shipping, wholesaling and private label.
Most commonly are RA and Private Label.
In private label you use Amazon market place to find a popular product that has high demand and low competition (in term of the number of sellers offering the product).
Next step contact overseas manufacturers that produce these products – or have the capacity to do so, and then get into a manufacturing agreement with them.
Ali baba is a great way to find such manufacturers that produce products in quantities of <500>.
After the manufacturer completes the process, and ships it for you, you then label it correctly and ships the merchandise to Amazon fulfillment centers spread across the globe.
Once customers order your products, Amazon fulfils the orders for you.
The trick to creating wealth with Amazon FBA is to buy low and sell high.
Ge the sourcing process right.
With private label pursue products that have the potential to sell at least 10 units per day or 300 per month.
Additionally, go for products you can sell at $25-50.
This helps cover Amazon fees & shipping costs while leaving you with a profit margin of at least $10 depending on the manufacturer’s price.
With at least 10 units and a profit of $10, you can generate upwards of $3,000 per month.
The great thing is that you can repeat the process with as many products as you want.
7. Online Community
Building an online community is another way to create wealth.
There are many ways to do this: A blog, forum, membership site, or using social media forums such as Facebook, Twitter and Instagram.
Keep in mind; an online community rallies behind a common topic or problem. For example: wealth creation or getting out of debt.
Create an online community around a topic that impassions you and others to the point where the online community you create has tones of traction and engagement.
The idea behind an online community is to give a specific audience a way by which they can share ideas and interact.
For example, create an online community on the topic of getting out of debt, your duty is to share valuable debt management topics and strategize with your target audience so that above offering a place where they can interact, you also provide value.
If you have 10K followers on Instagram, there are tonnes of businesses and brands that are willing to partner with and market their products and services to your target audience.
With online communities, the wealth potential is limitless because other than ads, you can also monetize the community through other means such as e-mail marketing, affiliate marketing, donations, digital products etc.
Implemented directly using the strategies outlined in this guide, the seven methods will help you create wealth, get out of debt and starting a financially free life.
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