073R | How to Make Money Online

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Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Disclosures.

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):

Membership Sites

Paid Courses Mentioned in the show (for which we are an affiliate)

Advertising

Listener/Reader Supported

Books

Grit

Grit: The Power of Passion and Perseverance Price: Grit: The Power of Passion and Perseverance Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you. Last Updated: 11/03/2020

Thinking Bets

Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts Price: Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you. Last Updated: 11/03/2020

 

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As Jonathan would say, “The FIRE is spreading my friends!”

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Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Disclosures.
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