Wondering how to become rich online?
Dreaming of doing nothing (almost) and earning a lot?
Wishing to work wherever and whenever you like?
Well, if you answered YES at least on of the questions above, this post might be for you. Read further on, and you will find out how to become rich online.
Not SCAMS, and GET RICH QUICK SCHEMES.
The methods, I am discussing, are all VALID, PROVEN and PROFITABLE.
Check it out!
Create a Product
Create a product is easier as it sounds.
Oftentimes, you would think of a huge factory of hundreds or more employees working on ”your product”.
Considering the time of INVENTING, TESTING, and MANUFACTURING you might think that this method is just too time consuming and the reward in the end, is not guaranteed yet.
You are right just partially.
Despite all of the insanities of the present era, we do enjoy some great advantages. One of the biggest one is the specificity of the INFORMATION ERA.
That’s where you want to dive in, in creating your product. Forget big construction factory halls, and months of building. If you would create people NEED, and it will be INFORMATION, you can be done in one week, start collecting money in the second week, and be rich by the end of the year.
What type of INFORMATION your product could consist of?
- Digital course on How to…
- Video course on How to…
You can replace the three dots LITERALLY WITH ANYTHING.
The most profitable would be something like:
- lose a weight
- become millionaire
- write your first book
- learn how to become an expert
- find your dream partner
- travel a world with less then $1000
What would you need?
- lots of creativity
- sales/marketing skills
- sky is the limit -you can create product in any niche
- risk of product becoming “unwanted”- that’s true for physical product more than digital products, but the chances are there relatively high, (even after you made a great amount of testing, something that looked to be an amazing product can turn to be crap no one wants, just after 1-2 year )
- costs prior
Sell Product You Don’t Own
By far, still my most favourite one.
Selling someone else’s product has one huge advantage compare to two other strategies mentioned in my how to become rich online post.
(Even though, these two strategies are great DEAL as well, if you have what does it take)
This advantage is that you don’t have to do extensive testing and research prior, not even product creating costs aren’t going to be bothering you. Why?
Because the product exists already and it is serving people long enough to know it will be profitable for years to come.
(If you will choose the right product obviously)
On top of that, if there are some complaints about the product, you are not going to even be bothered by this, because that will be the work of the product owner.
What would you need?
- product to sell
- high competition (particularly in the 3 most used niches wealth, health, and relationships)
License a Product
There are some similarities with CREATING OWN product, however, this strategy is somewhat less time consuming.
It is suitable in majority for physical products.
(As you would see, the “work” you will do is mostly done behind the PC or with your phone, that’s why it is included in this how to become rich online post)
I know, there are might be many questions related to this strategy, so I found this post with interview of successful “licensor”, that is giving you a bright idea how LICENSING PRODUCT LOOKS IN REALITY.
One of the License businesses is Coca Cola. With royalty less than 1% it is still profitable business.
In nutshell, you would want to find a NEED for a particular product and eventually LOOP in the retail stores(that doesn’t offer sufficient choices)
Use big stores in your niche and search for products that are long time available, meaning there is not a lot of new pieces available.
After that, find manufacturer, who can build it for you (assuming you go with physical product), make a profitable deal (profitable would be any royalty fee between 0-25% of wholesale price, depending on the niche obviously)
Best example of licensing product is TEDDY RUXPIN (SPEAKING BEAR) that was earning on its peak $1 000 000 a months to its inventor.
What would you need?
- strong negotiation skills (manufacturers, sales departments)
- huge earning potential for relatively small work=ROYALTIES
- off limits=you can create literally any product as long there is a NEED
- it can cost you more (product creation) than you will earn
Internet is the future
The future lies within Internet.
There are some people who still don’t accept it(or don’t want to accept it), but it is a FACT.
Rather than complain, you can make it huge benefit to you. Let internet and digital era serve you.
Clearly, it does not matter which way you choose to go, in all cases you’ll be aspiring much higher than the average person.
If you decide to create your product, or sell someone’s else product, or you are going so far and you will license your product, you might become rich earlier than you thought it will be possible.
In case, you search the answer on How to Become Rich Online, don’t look any further and grab your chance today. It will never be the right time, the right circumstances or the right product.
You have to CREATE IT ALL!
Before You Go…
I hope you liked my blog post 3 Best Strategies on How to Become Rich online.
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