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How I Earn a Passive Income with Zero Inventory Using a 4 Step Formula
I know what you see in the title above is a bold statement but trust me when I tell you it is exactly what got me to this point. I want to encourage you to read this until the end as this is what can change the way you live your life and make that sea change you are looking for.
You see, I spent years in an office cubicle working 9 to 5 (or longer) and hated it. I was sick of working for someone else and I had worked my career to the point that I had painted myself into a corner – both in terms of skill set and earning capacity. I just couldn’t see a way to change my situation.
I was always jealous when I heard people say that they made a living doing what they love and whilst I knew I wanted to do my own thing, the trouble was that I just didn’t know where to even start.
It got to the point (with some ‘productive' words from my amazing wife) where I had two choices:
- Just keep doing what I was doing and be happy with my current life… or….
- Take the opportunity (chance) to change things and live a life that I want to
During this time, I had got interested in online marketing and decided to take the opportunity to make a change – i.e. option 2.
I then tried various “done for you programs”, make-money-online products and even Multi Level Marketing. After being scammed and with several failures under my belt and I was frustrated. But I wanted to change things so I decided to try something new. It was that one last try that ended up being my saviour and taught me – and a few others as you can see below – a 4 step process to sell products online.
What is Affiliate Marketing?
I want to explain to you the basis for it all, which is affiliate marketing.
Affiliate marketing is the process in which you, as a marketer, refer customers to websites where they can purchase products based on your recommendations. The website that takes the sale then pays you a commission for the referral sale.
It sounds simple, and in general, it is – as I will outline with my 4 steps below – however, let me just take you on a little reality check – one that I had to realise myself… This is no get rich quick process.
Becoming successful as an affiliate marketer takes time, patience and a lot of hard work. I mean I was used to terms such as ‘return on investment' and ‘time is money' so I wanted to be on the fast train to riches. And in time, if you stick at it, your ROI will be right where it should be – but in the short term it would be remiss of me not to be clear here that most affiliate marketers take at least 12 months to start making anywhere near a decent enough income to survive on.
I don’t tell you this to scare you, rather to make sure you understand what it is you are up for from the beginning. It is a lot easier to ‘maintain the rage’ so to speak if your expectations are where they need to be from the start. So, in keeping with the simplistic view of it all we will run through it from the four step process below.
What are the Four Steps?
Here it is – the four step process I have been talking about:
Step 1 – Choose an interest
In short, step one is all about deciding what it is that you are going to build your online business around. They beauty here is that it can be about anything! Don't believe me? Do a search online for a subject, any subject – there is information everywhere.
This means that you can choose what makes you happy – your passion. Is it dogs, camping, scrapbooking, CBD oil, Beer brewing, golfing, yoga, the stock market, politics or making money online? All you need to consider is if it is something that you you are an expert in, know about or, as we have said, have a passion for.
Whatever it is that you choose, keep in mind that you will be working with this for a few months before you start to see even a little cash. So if it is something that you aren't really interested in, then this will become a chore (and might make you wonder why you didn't just stay at your desk).
Step 2 – Build a Website
We are using the term ‘build a website' here as it is the most common means of affiliate marketing, but you could chose to create a YouTube Channel, Social Media account, Podcast list or all four.
Why, simply because this is your vehicle to convincing a person to purchase via your website. Take a step back and have a think about what makes you search for things online?
- Is it to see what product can do what you need done?
- Is it to compare a number of products and see which is best?
- Is it to see how to do something?
- Is it to find out why things work the way that they do?
Can you see a pattern? These are all problems that need to be solved. These are what you need a website for. Let's use an example to pull steps one and two together:
Say your passion is coffee and you wanted to assist people in opening a cafe. As an example you would use your website to write a post about which coffee machine is best for professional use. You would review three or four machines within your post and then make a recommendation with a link on your page. Readers can then purchase their own coffee makers directly from the vendors based on your recommendations.
Potential or new cafe owners with the problem of not knowing which machine is going to work best for them, will do a search online, find your website and make the purchase based on your recommendation. You then get paid in the form of a commission (which is actually Step 4 below).
Step 3 – Attract Visitors
So why does the above take time? Because sadly, new websites just don't show up on search engines overnight. It is probably an obvious statement but attracting visitors to your website is the most important aspect of it all. After all, if they cannot find your website, or do not know it exists, then how can they click on a link and find you.
Have another think about how you behave you want to buy something online. What do you search for? Where do you look? If you are like most people, you will do a search in Google or Bing or another search engine. Then ask yourself how many pages deep you go when you look at your search results – 1 page, maybe 2? And there it is, that is what we mean by being able to attract visitors – ranking. The higher you rank, the higher the chance that someone will find your site online.
You will need to rank your site by:
- Writing quality content
These are not difficult tasks on their own, but again, they take consistent work and time…
Step 4 – Earn Revenue
We have pretty much covered this to here but the point remains the same. Once you have chosen your subject, built your website and attracted traffic, then the last thing to do is monetise it. There are over 50 ways that this can be done, mainly via affiliate marketing as we have discussed, but there are certainly others as well. With a good solid website, this is all possible.
So how does this happen?
Well for me, I chose to change my life and see where the opportunity led me. As part of my journey, I joined Wealthy Affiliate, a comprehensive training, website building and hosting platform that guided me through the entire online business building process utilising the 4 step method that we discussed above. And to be honest with all that has gone on in the world recently – you know – pandemics, bush fires (where I live), chaos on the streets and so on – it is still the best decision I have made. I have been able to work from home through all of it and continue to earn – Oh, and I am updating this post at 9:40 in the morning after having dropped my son at school and gone for a walk to the beach (yep, took that this morning).
But what about you?
- Do you want to make money from something you are passionate about?
- Do you always talk about how you envy someone who does what they love every day?
- Do enjoy writing?
- Do you have a laptop?
- Do you have access to the internet?
If you answered yes to any of the questions above then I say go for it – you have nothing to lose. AS we have said it is hard work (yep, there is always a catch) and you will not make money in your first week. But after 2 years at it myself, I am making money regularly each month.
And best of all, I joined for free and got access to step by step tuition with the tools to develop and host my very own website, help to identify a good niche, 24/7 support and access to some of the best affiliate marketing minds on the planet. And I am not the only one – these are real life posts created by real life members of Wealthy Affiliate.
So for you, well you now have a choice:
1. Live your life the way it is, and be happy as you are now.
And that is fine, but just a word of advice, own your decision and accept your choice – If you do that, then good things will come. But if you cannot do that then you have another…
2. Make a choice to change your life, try Wealthy Affiliate (no credit card required) and see where the opportunity leads you.
Trust me, you will not be disappointed.
And remember, you are not alone on this journey! I will be your personal coach the whole step of the way. I even have some extra bonuses for you (for free of course) once you join up. So, click on the link below and let's change our lives together…