Making Money Internet | Earn Extra Money

Online affiliate marketing is advertising for someone else’s website and, in return, the advertiser gets paid a commission for every sale that their ad brings to the website. As an affiliate, you get paid for advertising for someone’s site that you do not own.

As an example, you can find any number of companies on the Internet that offer affiliate programs. That company will give you a special URL to use in your advertising, so it knows that you are the one that sent the customer to their site.

You then advertise the site on Google, and when someone clicks on your advertisement, it will go directly to the company’s web page. If the customer purchases anything from the website, you will receive a commission on that sale. It’s that easy!

Affiliate marketing is simply selling other people’s & company’s products and services for a commission. For Example, a Book sells for $49.95 and we are willing to give 75% of all sales to affiliates…then for every sale you generate for the Book, you’ll get about $34.00

How to find a site offering Affiliate Commissions to me

Usually sites that run an affiliate program would have an Affiliate Link at the top or bottom of their website. This page will explain how much commission you can earn as an affiliate, whom they run their affiliate program through, tools to help you market their products/services and how to join up their affiliate service.

The types of affiliate systems

Affiliate services are either run by the website owner themselves or contracted out to a third party company. When the site owner runs their own affiliate program on their own, they might be using a program installed in their website to track all affiliates sales in order to pay out the due commissions.

However the most common type is using a 3rd party affiliate company. This is a much more transparent way of running the affiliate system and defiantly a preferred method as well.

The 3rd party affiliate company basically takes care of paying affiliates and tracking all sales…leaving the product creator to concentrate on marketing his or her site.

Affiliates like you and me, can promote sites using 3rd party affiliate programs in confidence knowing very well that you will not get cheated out of their hard earned commissions. This helps foster Trust between both parties.

2 of the most common 3rd party affiliate companies are:

www.clickbank.com and www.paydotcom.com

What exactly is this business about?

Years when technology is not as advance, businesses are run in a way where there are many boundaries. We are all limited to boundaries such as communication, geographical and many more.

Today, with the advancement of internet, you can communicate with people all over the world. You can buy products from the internet; you can download videos, music from it just by a click away. Even saves you the trouble from walking to the bank to do your banking transactions.

What you will be introduced today is Affiliate Marketing / Internet Marketing.

Affiliate marketing business model is very simple and easy to understand. Let’s put it very simply that today, you are selling shoes and you do not produce them yourself. You have to source for manufacturer and sell.

Relating it to Affiliate Marketing, you are the distributor. Every sale you make, you get paid a certain percentage of the sale which is your commission. Unlike the traditional way of business where you have to keep stock or purchase the stock first, Affiliate Marketing does not requires that.

Benefits of Affiliate Marketing

1. Low start up cost

2. Easy and simple to start up as long as have access to internet

3. It is a Global Business

4. It operates 24 hours 7 days a week.

5. No need for premises to run business

6. No need to hire staff

7. Business will continue as long as there is internet in this world

Now that you have clearly understand the system, the next step will be getting you start up.

There are many ways reduce refunds for a digital download product. While there will always be refunds, they should be minimized not only because it will keep more money in your pocket, but more importantly because it’s your responsibility to protect your affiliates. It’s not fair to them if refund requests are made that could have been avoided.

Not only will refunds hurt your bottom line with refunds, it will also exponentially hurt your profits by losing affiliates.

Of course the best way to avoid refunds is to have a high quality product that delivers more value than your customer paid for. However, that won’t stop the professional product snatchers that know the system. But here are a few tactics that will help.

1. Offer unadvertised bonus items: Have one bonus item sent immediately and then space the rest out, so they arrive over time. Make sure these are quality products. Sending out something that is not quality might actually backfire and make the person request a refund.

2. Take the customer off your lead list: If you have an email list of leads (people that have not purchased) and you keep sending them offers for a product they have already bought, then they may request a refund just for being annoyed. Most auto-responder services offer a way to automatically transfer email address from a lead list to a customer list.

3. Offer a newsletter: If you have a monthly paid newsletter, then give your new customer a one year subscription. If you have enough customers, you may want to have a product support news letter anyway.

4. Send them a physical product: ClickBank’s main product has to be a digital downloadable product. But you can still send them a physical product like an audio CD version of your eBook or even something cheap like a physical book, coffee mug, or t-shirt as a free bonus. Many people will not request a refund because they feel like they have to send the physical products back; when in fact ClickBank will issue a refund anyway.

5. Send the purchaser a follow-up email reminding them about the benefits of your product: For example, you can email them to tell them not to miss the great idea on page 7 which tells them how to do XYZ.

Add a couple of testimonials to this email. It will give them social proof that other people find it valuable and may make them rethink clicking that refund link. For instance, you could say “Bill Johnson just emailed me, he’s thrilled that on page 27 he discovered the secret that he’s been looking for 20 years.”

6. Have a support desk: Refunds are less likely to take place if the customer can easily reach customer support.

Constantly ask yourself: What can I do right now to move toward my goals? Take some time to think about your long term goals. Write them down and write down specific steps needed to reach those goals.

Try to work on priority projects at the time of day when your energy is at its peak. Establish what is most important and should get done first, then do it.

Set aside good sized blocks of time to do your work instead of spending a few minutes at a time on it. Find a place where you can screen out interruptions and annoyances when you work. Set deadlines for yourself to finish a piece of work. Post them on the wall in your workplace.

Don’t put off a task, even if it is menial work. Realize that you are responsible for getting things done, not someone else. Remember you are wearing several different hats: executive, manager, worker and clean up man. Resolve to do each job well.

Keep all your supplies at hand. If you notice you are running low on paper, shipping materials, etc., make a note to yourself to purchase then next time you go out, so you won’t run out in the middle of a job.

Don’t get an attack of “can’tdecidis”–plan your next day’s activities each evening so you won’t waste time the next morning trying to decide what to get started on. Make a TO DO list. List each day’s work in the order of their priority and try to finish them in that order.

Try not to put off working on a project when an idea is fresh in your mind and you are excited about it. Take time out from whatever activity you are involved in and work on it while you are most excited about your idea. Organize your work area and files. Keep all records, receipts, cancelled checks and other papers in a file or box.

If your business is through the mail, keep mailing supplies on hand: envelopes, stamps, backing boards, labels, postage scale, packing tape, etc. Handle paperwork only once by taking some kind of action on it the first time you pick it up. If it comes to you through the mail, either respond to it or toss it in the trash. Keep your tools and working area in good condition.

Aside from your business banking account, you should keep a separate record of all your daily expenses and income. The simplest way to record your expenses and receipts is to keep two ledgers: an expense ledger and an income ledger. (You can buy a pad of ledger or “accounting worksheet” paper at most office supply stores.)

The first ledger you should keep will be a record of all your expenditures. When an expense is incurred, you should fill in the date, check number, total amount paid, and the name of the payee (who you wrote the check to). You then record the expenditure again under the category it represents (see illustration). By keeping this record, you can easily see what your expenses are and where most of your money is going (for supplies, inventory, advertising, etc.). This will also help you see where your expenses could be cut back in the future should you need to do so.

The second type of ledger you should keep is an Income Ledger. This is a record of all your income or sales. You should fill in the date, sale amount and sales tax (if applicable) for each entry. You may want to fill in the name of the person to whom the sale was made if your payments come in large amounts from a few individuals or businesses. If your business makes many small sales you should just record each day or week’s total amount.

When you keep an accurate record of your sales, expenses, cash on hand and accounts receivable (money owed to you) you have an accurate picture of the financial condition of your business. This will help you know when you have enough cash on hand to pay your bills, when you are making a profit or loss on your business, and when to expect a future cash crunch (or surplus).

Good records are imperative to maintaining a healthy business. Depending on the size and type of your business you might want to customize your recordkeeping to your situation. A very small business might combine an expense and income ledger into one single sheet. On the other hand, a larger business which lets its customers pay on credit and has a large volume of sales would need far more detailed records. For a detailed and reliable guide to small business recordkeeping and accounting I would suggest you read SMALL TIME OPERATOR by Bernard Kamiroff (Belle Springs, revised 1993). This excellent book tells you all you need to know about administering the finances of a small business. If you have a computer, you can keep all your records on easy-to-use small business accounting program.

If your business is very small or operates through the mail you could get by without worrying about business licenses, permits, and so on. If, on the other hand, your business operates in the “real world”, as the newspaper publishing business does, you will probably need to obtain the necessary local, county and state permits to do business.

Each city, county and state has slightly different regulations, so you will need to check with the appropriate government offices to get information on licensing requirements in your area. Many communities have put together “How to Start a Business” brochures and booklets for their area. These are usually free and can be found by calling your local Chamber of Commerce. The following licenses and permits are probably close to what you will need to have in your area, and can serve as a guide for you.

FICTITIOUS BUSINESS NAME STATEMENT. The Fictitious Name Statement (also known as the “Doing Business As” statement, or the DBA) registers the name of your business, its function, and registers you as the owner. You need an official copy of your DBA in order to open a business bank account (if necessary). The filing fee for a DBA statement is usually $10-$20. You will also be required to publish this statement in a local newspaper one to four times. This serves as a legal announcement that you are establishing a business in the county. You county clerk can provide you with further details about the requirements in your area.

ZONING OR OCCUPATIONAL LICENSES. Most communities will have some special zoning laws concerning where a business can and cannot be located. A business license usually costs between $25 and $50 and must be renewed annually. Contact your local city hall for details. (Note: If your’s is a home business, you may want to check out local zoning laws covering home businesses ANONYMOUSLY. Some communities have some strange and often prohibitive laws governing home businesses. If you find this to be the case in your area, you must weigh in your own mind whether or not to comply with the law or conduct your business “underground”, without a permit or license. I wouldn’t recommend the latter approach very often, but thousands of home business people do just this each year.)

FEDERAL I.D. NUMBERS. Your own social security number is all the identification that your business will need until you hire employees. At that point you would have to file an application for an employer identification number (Form SS-4) with the IRS. If at all possible with whatever business you start, DO NOT hire an employee until you absolutely have to– because becoming an employer is guaranteed to quadruple your paperwork. The real paperwork nightmare starts when you add an employee.

TAXES. You are responsible for Income Taxes on the profits from your business, as well as the Self-Employment Tax and State Income Tax (if any). You may have to pay your taxes on a quarterly basis if your estimated yearly tax liability is over $400. But, as a self-employed individual (or “sole proprietor”) your taxes should not be too complicated a matter. In fact, there are several tax advantages for self-employed individuals, including business expense deductions, home office deduction, business use of your car and phone, etc. For a complete and (believe it or not) readable guide to small business taxes, call your local IRS office and order a free copy of SMALL BUSINESS TAX WORKBOOK (Publication 1066).

ACCOUNTING AND RECORD KEEPING. No matter what type of business you are involved in, you will have to keep good records to manage your enterprise successfully. If you don’t keep an accurate account of receipts and expenses, you will have no idea of your business’s true financial status. Aside from this, you’ll need to have records that will document and confirm your tax returns. Don’t let the idea of keeping a record of accounts put you off.

You don’t have to have any special knowledge of accounting or bookkeeping to keep simple records. Just a few minutes at the end of each day or week is all that is needed to keep accurate accounts. You will need at least three basic financial records to keep track of your business:

A CHECKING ACCOUNT. You should open a checking account for your business as the very first step of going into business for yourself. By keeping a business account, separate from your own personal bank accounts, you will be able to keep your business finances separate and distinguishable. You will have an accurate record of exactly what your expenses are by writing only business checks for you purchases. You will also have verifiable records to declare these expenses as tax deductions at each year’s end. You will also have record of your earnings by first depositing them into your account. You can open your business checking account at your local bank.

Although you can get an official “business account”, I would suggest you open a regular (personal) checking account under your business name. These are much cheaper than a normal business account. Keep your checkbook balanced and current so you can always see exactly how much money you have on hand.

If you are seriously considering starting your own newspaper, you better take some time to develop a well-defined and detailed plan to carry it out. Good planning is critical to your financial success in any venture. It will help you avoid all sorts of problems you may not have thought of otherwise. It will also help you tailor your operation to fit your resources, needs and goals.

You may even find, upon examining a business idea closely, that your concept just won’t work in your area and you will have to think up something else. If you find this out during the planning stage, all you’ve lost is a little time–whereas if you’d jumped headlong into an ill-fated business venture, you would have lost time, money, and a some sweat and blood to boot.

First, assess you own abilities and personality. You’re in the best position to know what your strengths and weaknesses are. Fit your business around your strengths and abilities, not the other way around. You’ll find your work much easier and lots more fun. And you will know what you are doing instead of groping around in the dark.

Second, you MUST research your market. Is there a market for your business in your community? Who is your competition? Is there room for your business too? Even the sharpest of businessmen will neglect this very basic step. But don’t be one of them–talk to people who would be potential clients for your services. Ask if they would do business with you to help you get started. Make some phone calls. Run a trial ad. Send out some letters. Take the initiative to feel out your market before you begin.

Third, map out a course of action. Try to write down, step by step, the actions you need to take in getting your business started. Having a written plan in front of you helps you see what specific actions need to be taken in setting up your business. Also write down all questions, thoughts and comments you have about your business. If you’re not sure where to start putting together this sort of “business plan”, check out a few books on starting your own business at your local library.

Fourth, analyze your time and money. All legitimate ideas for starting a business entail some expense and (especially) time in getting started. You should get a general idea of what your starting-up costs are going to be. (This will vary from a few dollars to several thousand, depending on what type of business you are setting up.) Be as complete as you can in writing up an estimate for your basic supplies, inventory (if any), advertising costs, business cards, letterhead, equipment, etc.

Honestly examine your own financial resources and determine whether you will be able to finance your venture or not. If not, admit it to yourself and either change your plans or begin to check out your alternatives–loans from family or friends, a partner who might help fund your business, an additional part-time job, or (as a last resort) a bank loan. Some people even start new small business ventures with a credit card!

Keep in mind that the first few weeks (and sometimes months) of any business will probably be tough going, and expenses will most likely outweigh income. But if you hang in there long enough and your ideas are sound, you should soon find yourself making a profit and developing better contacts and opportunities.

You should also analyze the time you have available to pursue your business. Starting any business usually takes much more time and effort that you first expect. If you are in school or have another job as well, you will have to MAKE time to develop and nurture your business.

Fifth, examine yourself. Have you the discipline to stick with your business and give it the chance it deserves? Can you handle the work, preparation and promotion needed to support your idea and make it succeed? You should be prepared to work long and hard–maybe harder than you have ever worked before.

Some ideas require more planning, research and capital than these guidelines suggest. Others can be started with minimal planning and preparation. Whatever the case, be sure to plan sufficiently for each business venture.

You will find that a very few advertisers will turn out to be deadbeats. But if any invoices do age up to 90 days, refuse any further advertising from them until you are paid. Then require cash upon placement of any future ads. Remember, if you want to get paid, you have to ask. If you don’t ask, you can wait a very long time before any money shows up in your mailbox.

Tough Billing Tips: Call It a Bill. Some companies won’t pay ’statements,’ just ‘invoices’ and ‘bills.’” Your form should carry the title BILL or INVOICE in large letters at the top of the page. Include Your Terms and File ‘em Fast: It’s typical to allow 30 days for payments, although “due on receipt” is a popular runner-up.

Some businesses put 10- and 15- day terms on their invoices. The longer you wait, the vaguer the memory of your services becomes to your client and the hazier your own memory of the charges. Send out (or hand deliver) your bills immediately upon publication of each issue. The payment clock starts when your customer opens the envelope.

Follow Up Firmly: Demand payment within 30 days of invoicing, and if they don’t pay by then, tell them you’ll suspend the account. Of course, if clients pay a few days late, don’t burn their business cards. But drop clients who habitually wait 2 months to pay invoices.

On every new invoice inform clients that you post a “monthly rebilling charge” of $15 if payment is recd. after 30 days. You may not get the late fees, but you’ll usually gets paid quickly when the 2d bill with the added$15 charge is recd. IT’S VERY IMPORTANT THAT THIS BE STATED AS A REBILLING FEE & NOT A FINANCE CHARGE, or you can run into state usury & finance laws.

How to “hound”: A typical billing follow-up schedule would be a friendly phone call at 35 days, & progressively more severe-looking notices at 60 & 90 days. Once the invoice has been in a client’s hands for 90 days, you have to ask, “Is this a client I’d like to keep, or is it one that’s not worth working for?” If you want to keep the client, try to accommodate their cash flow problems. If you just want your $, resort to collection agents & small-claims court.

Consider Color: Invoices that use color to highlight the “balance due” section are paid up to 30 percent more quickly than black-and-white bills. Stickwith the same format. The last line should show the amount owed, & clearly identified with words or phrases such as “Please Remit.”

Curtail Details: The more details you include, the more questions you get. Start with scant invoices & add specifics as clients request them. Always have those specifics to back up your charges.

You can use a software billing program to generate invoices for your advertisers. These should be mailed to advertisers upon publication and distribution of your first issue. Enclose a tearsheet of the ad with your bill. Alternately, if your advertisers are local, you can stop by and drop off the invoice along with some extra copies of your publication. Some will go ahead and pay you right then and there.

There are a number of excellent shareware billing programs that not only generate bills, but also track payments, notify you of overdue bills, generate late payment reminders, and quarterly and yearly statements for each account. Look on local BBSs and on-line services to see what shareware products would be suitable for your needs.

Keep careful track of your billing records. When you receive payment for a bill, enter it into your software program the same day it is received.

Consider offering an incentive for advertisers to pay their invoices early (such as a 2% discount for payments received within 10 days). This will greatly accelerate your cash flow.