If you want to build a six figure income, you need to take charge of your income sources. You have no control with a job. Even sales people have very little control. The Internet gives you many ways to generate income. Six very popular ones are discussed below.
1. Affiliate Marketing
Affiliate marketing allows you to make money by promoting and sending visitors to other people’s products. This is one of the fastest ways to get started making money online. The reason for this is that everything is already in place. The products are already created, the sales page and delivery systems are already created, and the marketing material is ready to be delivered. Your task is to find the people who want this product and tell them about it.
2. Selling Physical Products on Market Sites
There are literally millions of products the average person can sell. Starting with your garage and moving on to thrift stores, closeout sales, and online retailers. You can easily find or make products that you can sell for a profit online. Sites like Amazon, Ebay, and Etsy make it easy. They have built up the selling infrastructure and already receive millions of visitors every day. Your task is to find products that you can sell for a profit and make sure the customer is happy with it so they leave positive feedback in the system.
Starting your own blog is a great tool for creating your own income. You can create a blog in a popular topic and promote it to people with similar interests. You can make money by selling ad space on your blog or by creating premium content that visitors need to subscribe to access. Unlike the first two options, this one gives you 100% control of the system. Your task with a blog is to find users interested in the topic and generate content that will keep them coming back.
4. Niche E-commerce
Ecommerce was responsible for $2.3 trillion dollars in sales in 2017. This is a very big pipe, and the big players have already staked their claims to the majority of it. But there are plenty of small markets that aren’t being serviced well by the big guys. Choosing a small niche market and giving them the missing elements. For example, diets are a huge industry. And the keto diet is also still pretty large. But keto desserts or keto baking has a very small number of products supporting them. You could easily make a nice income serving small niches like these. Your task is to find a small niche, discover the products they want, and find a way to deliver them.
5. Your Own YouTube Channel
YouTube is the second most popular website on the planet. This is a lot of built in traffic that you could capture by creating compelling and entertaining content. You don’t even have to be the original creator of the content. For example, there are dozens of very popular channels of people reading posts from Reddit channels and commenting on them. Once you reach certain subscriber count and hours watched, you can enter YouTube’s monetization system and get paid for people watching your videos – or more specifically for watching the ads tacked on at the beginning of your video. You can also recommend other products and services that will pay you for people who sign up through your link. Your task is to find a topic that you can create entertaining content on and present offers to them inside the video.
6. Selling Digital Products
Like blogging, selling digital products is a very powerful tool because it gives you the most control. You can create the product you want and sell it on your own website. With dozens of free tools available, you can easily create your own ebooks, MP3s and videos and sell them to visitors of your website. One advantage of selling digital products is you can create products more quickly and make them available. So your information is more up to date than physical books sold in bookstores or on Amazon. Your task is to find people interested in topics you know a lot about, create digital products that solve their problems, and offer it to them for a fee.
So there you have six different ways you can start building a six figure income. Now the old adage about eggs in baskets says you shouldn’t just choose one and only one method. And you would be correct. You want multiple different sources of income for a true six figure income. But what you don’t want to be is the “master of none.” Start with one, master it to the point that it is crusing with little or no effort on your part, then choose a new way to start.