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So you want to start earning
online and have invested some of your hard earned cash in
a couple of online programs but have you really thought
about what you are investing in.
You wouldn't simply roll
off the street into a real estate agency and purchase a
house to rent out without looking at the area first and
seeing if there was a good rental market and similarly you
wouldn't invest all your money into shares in just one
company before looking into it first.
As any financial advisor
and in fact anyone with a little common sense will tell
you - you should spread the risk. You do not invest all
your money into high risk new venture companies or put it
all into property. Similarly, if you want to make a good
return you don't just leave it sitting in the bank.
Earning a living online or
a little extra cash is no different. You must consider all
the options carefully first and then only invest what you
can afford to lose and SPREAD THE RISK.
You should look to put your
money in a number of different online companies and
investments. No I don't mean join every opportunity going
and spread yourself across so many different opportunities
that you don't know whether you are coming or going, but
you should have a balanced portfolio of opportunities.
First you consider how much
time you have to put into a new online venture. If you
don't have much spare time look to invest in passive
programs that require no recruitment or downline building.
And yes there are some of these that work and are stable
and will be around for the long haul but you must be
careful. Even if you are planning to promote another
network marketing MLM or affiliate program you should have
some form of passive program in your portfolio to build up
funds.
Again when investing in
passive programs spread the risk. For example I have
invested money into 4 passive programs, 2 fairly low risk
ones, one I would class as low to medium and a higher risk
opportunity for quicker returns. Number one rule - NEVER
INVEST more than you can afford to lose, number two - SET
YOUR GOALS. If you want to earn an additional $500 a
month, then invest enough to do this but ensure you
withdraw the rest and do not be tempted to invest more for
a bigger return. All these programs carry some risk and
you should always aim to at least make your capital
investment back and then just invest the profits.
As an example in my
portfolio I have a weekly subscription to J3V
(http://www.j3v.biz/index2.php?rgawith) and YMMSS (email
me at support@computerincome.net for details) in order to
build up a good residual income in a couple of years time.
These are both stable companies that have proven
themselves and have a good track record. I therefore
consider these low risk (and this is only my opinion) and
I am using these to build up a residual income without the
need to recruit. I have then invested in FundBiZGrowth (http://www.fundbizgrowth.com/SOSRGawith.html)
which doubles your money every 6 weeks - I consider this a
slightly higher risk program but one in which their could
be good returns. Finally I have invested in DollarMonster
(http://easychairclub.com/dm/moreinfo.cgi?u=rgawith)
- this purely a double your money quickly program and I
consider it a fairly high risk as it requires a constant
flow of new people to pay out. I am using this program
simply to make some quick cash to plough back into the
other programs.
So whilst these passive
programs are building you residual income you need your
main affiliate or network marketing program which you will
concentrate on promoting and which will give you a an
immediate source of income. Now I actually own and run my
own program at http://www.earnmoneyhere.com
but I am also an affiliate of RecipeSwap (http://www.recipe-swap.com/members/rgawith/)
which I think is a goof stable and fun program to promote
and make a good second income. However, it does not matter
what your main affiliate or MLM program is so long as you
concentrate on promoting it and building your affiliate
team or downline.
Then as with any business
you need to ensure you have the right tools and resources
for the job. If you worked in an office, you require
office equipment, if you have a shop you need display
racks etc.. working online is no different...you need the
right tools and resources. I use Isoregister ( http://www.isoregister.com/9810354341/rgawith
) as it gives me all the tools I need in one place such as
autoresponders, ebooks, articles, advertising etc
etc...but so long as you have a good resource suite you
are all set to market online and start building your
portfolio.
But remember the number one
rule, is all online opportunities incur a certain amount
of risk, but you can minimise your losses and maximise
your profits by spreading the risk sensibly across a
number of stable and profitable online ventures.
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