I have finally gotten round to writing a summary of Stephen Pierce’s book “Make Real Money On The Internet” which you can get a free copy of by visiting http://www.ethicalcash.com
The book covers 7 key stages of setting up and running an internet based business (which could be a website or a blog) and focuses on the use of information products and reseale rights as your way to build your business. If you love blogging and you are an expert in your field then creating and selling information products through your blog will probably appeal to you.
Below is a summary of what Stephen Pierce’s book “Make Real Money On The Internet” covers :
Step 1 : Developing your profit instincts
In this chapter Stephen covers the essential steps for getting started and reminds you that people don’t care about what you think will sell, they only care about what will help them so you need to focus on providing value and helping people.
You are reading this now because you want to learn about how to make money online and you might even know that you want help from a professional – but if I spent my time talking about what I think you should do how interested would you be in hanging around this site? Not very I’m guessing.
I could throw up a site saying “You don’t know you need this yet but you really do need it, let me show you why” and no one will ever find me because no one knows they need me yet!
Or I could focus on a site that says “I know you are looking at how to make a profit with your blog and I have some really valuable information on how to get started so you can make real money on the internet”
Now that is more likely to get attention from people!
I love this quote from Stephen Pierce that says “If you want to go broke, market to all the folk, but if you want to get rich, market to a niche”
By the end of this chapter you will have a clear understanding of
- Why choosing a niche is important
- How to pick a niche for your internet based business
- Why standing out in your clients mind is important for success
- The difference between a market, niche and mirco niche
- The 3 step process to rapidly uncovering a niche that can become an income opportunity
- Stephen’s favourite places for market research
Once you have under taken some market research on a niche the next step is to consider your product
Step 2 : You’ve got products
In this step Stephen goes over how to select a product, with his focus firmly on providing value (he defines value as anything a person will take an action to get or keep) he focuses on different kinds of products (information created as text, video, audio or software that you sell online)
In this chapter you discover
- The three ways you can deliver value to people using products
- Five specific ways to develop products to sell online
- How to use keywords to find products to sell
This is a really valuable chapter for anyone getting started with making money online because it really does go into detail about product delivery and development in a way that anyone can understand.
So far you have found your niche, decided on how to deliver them what they want/what will solve their problem, and you have a clear understanding on the different ways products can be developed. Now it is time to look at step 3 which covers the perfect internet based business – information marketing
Step 3 : The perfect business
Information marketing – selling products that help, teach, and/or empower – is still the best way to make money online in the UK or anywhere else in the world! People are looking for the answers to their problems and whether your information focuses on
How to repair bad credit
How to make money online
How to build self confidence
How to quickly and easily lose weight
If you provide value, show your potential customers how you can help them and how you are the solution they need then they are more likely to buy from you.
In this chapter Stephen covers the different ways that you can use information that can be sold online.
He asks you to consider two very important questions that focus on the priority of your potential customer and whether it will meet the need/solve the problem that they have.
Five powerful ways to make money with information by
Creating it in book format (ebook so it can be downloaded immediately)
Putting up a membership site / continuity program and adding content
Creating a niche blog that provides articles, tips and other information that people need, while promoting your own product or a product as an affiliate.
Recording audio and sending it out as an .mp3
Recording video and putting together a DVD
People will buy information in different ways and eventually as you begin to earn money you may even want to think about giving away a free product just like Stephen is doing with his free “Make Real Money On The Internet” book
Step 4 : Income Forever
In this step Stephen focuses on how to develop a consistent income from the internet by capturing the names and email address details of people interested in what you offer. This is also called LIST BUILDING.
When people visit your blog and leave you have just lost an opportunity to build a relationship with the person but if you are willing to give something away for free – a newsletter each week, a free ebook or ecourse, a free piece of software – people will sign up and you can then stay in touch.
Of course the emphasis continues to focus on providing value at all times.
Stephen says “You need to be able to communicate with people consistently, because consistency creates cumulative effects, right?”
Like going to the gym, the results are shown in regular attendance not by running on a treadmill once and never visiting again!
Stephen believes that 95-97% of people who visit your blog will not buy after their first contact with you (page 67) which is why lead generation or list building is so vitally important.
Follow up is the key to continual sales. By regularly sending out additional content you can build greater value and confidence in the people who are receiving your message. It has been proven that once people know, like and trust you then it becomes easier for them to consider investing in your product.
In this chapter Stephen really does emphasize the importance of list building as an essential part of your internet based business.
Step 5 : There’s something about traffic
Whether you are looking at how to create a profitable blog or website to make real money on the internet you must focus on generating traffic from a range of different sources.
The trouble with traffic generation – like making money online – is that there are so many options it can be difficult to know which one to start with. More people are using social sites like Facebook and Twitter and Stephen shares his favourite sites in the book. He also focuses on the difference between free, performance and paid traffic so you can get clear on which kind of traffic you want to use.
When it comes to generating traffic it is a good idea to have a range of different ways not just one, there is not one solid way but a combination of different ways that will help you.
Traffic generation is the life blood of any online business but not JUST traffic, knowing how to convert it into a lead when a visitor arrives at your site, knowing how to build a relationship with people and understanding the different sources of traffic is also crucial.
Step 6 : Please don’t touch
If you want to enjoy making money online then you will need a system in place to ensure it all happens without you. This is the power of the internet, you do not need to be there to sell something.
Shop owners need to be in their shop to make a living, motivational speakers need to be in the room to make a living, online business owners can be in their bed and still make a living!
To do that you must have a few crucial things in place. Two that I always recommend are :
A high quality autoresponder
For collecting names/address to build your list, sending out emails to the people who want to hear from you and having a system to automate that whole process you need an autoresponder and one I highly recommend is Aweber because they are easy to use and include step by step video instructions to help you get started.
A payment system
People need to pay for your products and a large number of internet marketing experts still use one of the easiet payment systems online which is Paypal. With Paypal people can pay you and you then transfer that money into your bank account
You want your business system to be as handsfree as possible so this chapter is a very important one and Stephen goes into detail about why automation is such a powerful ingredient to making real money on the internet. If you want your business to excel and expand you must automate
Step 7: Cash injection accelerator
We are now on the final step of the book Make Real Money on the internet – the money making manual by internet marketing expert Stephen Pierce and this chapter focuses on repeat sales, upselling, cross selling and all the other different ways to earn an income from your internet business.
If someone buys from you once there is a high chance they will buy from you again – as long as you continue to provide value!
This chapter focuses on selling more products at a higher and higher price and also on providing multiple offers to a single person.
It shows you powerful techniques for making money by presenting different offers to people. Like McDonalds who can supersize you – you can also supersize your new customer by asking them if they would like to take advantage of other offers at the time of buying something.
Traditionally called a “one time offer” this technique has been proven to work well and while not everyone will take advantage of it, it is still a marketing technique worth looking into.
Once you have your customer you can also continue to offer them other products at higher prices.
It will usually start with at $5-20 product, increase to a $40-90, continue increasing to $200-500 and upwards from there!
All of these can be ongoing cash injections into your business.
So there you have it, all 7 steps covered in the Make Real Money On The Internet free book by Stephen Pierce that you can get a copy of by visiting http://www.ethicalcash.com
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Wow ! This is a great summary. You have my interest. I am going to dowload his free book and read it now. You did an excelent job summarizing it. I am looking for real ways to make real money online. Really begining to feel the crunch from job furlows. I need to create something parttime to supplement my income. I am a total beginner with very limited knowledge in how to sell anything on line. Of course I know how to buy but not sell. This may be the answer that I have been looking for all my life.
Thank you Craig I am glad it helped. Reading the book will give you all the insights you need. Of course Stephen also does what he says and will offer to supersize you after ordering the book
Its a great offer and well worth looking at for the beginner. Remember, once you have found someone to learn with stay focused. Its too easy to start listening to 7, 8 or even more “gurus” and “experts” which only means you end up overwhelmed/confused. It is one of the biggest reasons newbies online end up broke and frustrated. So if you are new stick with Stephen and give yourself time to learn his methods. It doesn’t mean NEVER learn with anyone else but just give yourself enough time to make money with this method before moving on.
Good luck with it all. If you ever decide that becoming an authority blogger is something you want to consider when you are ready remember where I am! Becoming an authority blogger is definitely not for everyone but for those who choose the path it’s a great one to follow.
Diane
http://www.ethicalcash.com
Great summary, enjoyed reading it! It’s getting to where late and early meet, will come back refreshed and re-read … in the meantime just a note to let you know your stuff pops up in Google Alerts these days, yes, like popcorn – way to go!
Beat
Thanks Beat. That’s good to know and interesting because between finishing off writing my book and moving home I haven’t blogged much but I have outsourced adding the blog to directories and am using a system to add blog posts to book marking sites. I will write about it in my next blog post.