If you browse the Forum threads at somewhere like The Warrior Forum you’ll often come across people who’ve been working on their internet businesses for 6 months, or 9 months, or more and barely generated enough revenue to cover their hosting costs.
Coincidentally these people tend to use one of the following business ‘models’ for their online businesses:
(1) Build sites with the purpose of attracting traffic. That traffic then leads to income generation via some kind of advertising, usually AdWords.
(2) Build a site (Or sites) in specific niches – the income generation for these sites is via Affiliate Marketing.
(3) A Version of the affiliate marketing model building sites that ‘review’ products on Amazon and direct the visitor to Amazon via an affiliate link.
Now it’s not impossible to make money with any or all of these models. Steve Scott of SteveScottSite.com and Brankica from Live-Your-Love.com both have niche sites from which they make money. Or check out Pat Flynn’s detailed diary of setting up his own niche site at SmartPassiveIncome.com.
But it’s hard to generate income from these models because this is what just about EVERYONE who comes into the ‘make money online’ field try and do. And so the competition is fierce. [Read more…]