073R | How to Make Money Online

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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):

• Helarious Lizzy
• The College Investor

Membership Sites

• Bigger Pockets
• Flipped Lifestyle
• The Dad Edge

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

Advertising

• Google Adsense
• Mediavine

Listener/Reader Supported

• Radical Personal Finance
• The Minimalists
• Wait But Why

Books

Grit

Grit: The Power of Passion and Perseverance Price: Buy Now on Amazon Full Disclosure: We earn a commission if you click this link at no additional cost to you. Last Updated: 02/21/2020

Thinking Bets

Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts Price: Buy Now on Amazon Full Disclosure: We earn a commission if you click this link at no additional cost to you. Last Updated: 02/21/2020

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