A quick review of Monday’s interview with Jamila Souffrant, followed by a dive into seven ways to make money online.
What you will learn from this episode:
- Brad is excited to have sold his house for more than asking price, after he and his family moved to a larger house, which is better for his family.
- Is it better to rent v buy, taking into consideration taxes, closing costs, etc.?
- Brad is headed to Nebraska to attend the Berkshire Hathaway Annual Meeting.
- What does it mean to fail forward, as Jamilla talked about it Monday’s episode?
- If you’re not failing, you might not be challenging yourself.
- What considerations can help you develop and grow out of a failure?
- How did Brad and Jonathan fail forward so far in their life?
- Following up from episode 69R about starting a blog, how can you monetize your presence online?
- Seven ways to make money online + a bonus:
- Membership sites: charging a fee for access to part or all of the content on a website. Site owners have to find a way to provide value to customers.
- Digital courses: create a course that lives online for customers to pay to access.
- Create a product or service: marketing your preexisting business online or developing a service or product to be marketed on your site.
- Advertising: use Google ads (or other advertisers) to put a banner on your site, from which you will receive a very small payment. Advertising is simple, but most lucrative when you have a high traffic website.
- Sponsorship: an outside business or person will contribute money, to sponsor your site, product or services.
- Listener/Reader Supported: consumers donate to the site if they’re finding value in the site’s content.
- Affiliate Marketing: you refer products to consumers, and if consumers click on links or choose to purchase a product, your site earns a commission.
- BONUS – grow your brand and watch what opens up to you.
- Combine and overlap these methods to best interact with and monetize your site.
- What is drop shipping and how did Brad use it to sell fire wood holders?
- How can you find businesses and products to work as an affiliate?
- The key to a successful online business: the purpose.
- Why does ChooseFI opt for affiliate marketing?
- Voicemail from Fritz at The Retirement Manifesto.
Resources mentioned (there’s a bunch of them):
Paid Courses Mentioned in the show (for which we are an affiliate)
- Millennial Money Man Facebook Ad Course
- Making Sense of Cents | Affiliate Marketing Course
- Coach Carson Real Estate Course
- Thinking Bets
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As Jonathan would say, “The FIRE is spreading my friends!”