Select Page

1000 Per Month Extra With Stocks

Obviously there are unlimited ways to make $ 1000 per month. The way I’m talking about involves a new way of “trading” stocks. I’m not a financial advisor and I’m still learning this, which means I don’t have all the answers, but I’m liking what I’m seeing so far.

HODL

Imagine if you didn’t actually trade stocks, but just bought. There’s a meme in the cryptocurrency world of “hodl”, which was a misspelling of “hold”, as in – ‘I’m holding my crypto no matter what and never selling!’. So what if we took that approach with stocks (and not boring index funds)? I think there are at least a few ramifications:

  1. “Trading” just means buying more stocks
  2. We’d be far more choosy about which stocks we bought since we couldn’t sell
  3. You’d be completely at the mercy of the market

But what if that didn’t matter? As long as the stock doesn’t go to zero it may still be useful, and if we buy the right stocks – we can expect to hold them for 10, 15, 20, 30 years or longer, as long as the company remains viable.

So what?

Since we’re holding these stocks “forever”, we open up options. Not just the ability to buy or sell options but we open up different avenues for making money with our stocks.

For example, in the current year with apps like Robinhood and Webull you can do a few things to earn more money on your stocks, like loaning out your shares for a fee. Or you could go to a traditional bank and use your stocks as collateral for a loan. Many banks will loan you 50% of the value of your stocks, so if you have $20,000 you can get a loan for as much as $10,000. If your stock pays a dividend you can receive a monthly or quarterly return of some money, which can then be reinvested back into the shares themselves.

But I’m not talking about lending shares or getting a loan or buying dividend stocks and collecting passive income – unless you’re already rich those won’t amount to anything meaningful and you’re trying to make $ 1000 per month!

I’m talking about a system of selling options on your existing stocks that can safely and reliably make you 2, 5, or 10% returns on your portfolio each and every month.

You’re probably yelling – “Enough already – how does it work?!”

Instead of buying risky and volatile options like novice traders, you can sell those same options to the people taking major risks! And what’s better yet, in order to guarantee these options, you actually need to own the stock or have cash to cover the cost of the stock – which means unlike normal options traders who buy options and lose everything, you are protected from major risk.

Selling Covered Calls to Make $ 1000 Per Month

There are actually two different ways to use this strategy: Selling “Covered Calls” and selling “Cash-Secured Puts”.

Selling a covered call means you own 100 shares of a stock and are selling someone the right to buy those shares away from you at a specific price at a specific time. So let’s say you own 100 shares of ACME Corp stock, worth $10 each. You can sell someone the right to buy those shares from you for, say, $20 each,1 month from today. If the share price goes up to $21 or more in the next month, that person would probably exercise their right to buy those shares from you. But if the price doesn’t go above $20 they probably won’t exercise their right to buy since they could just buy them cheaper on the market, so the option expires worthless.

The magic here is that in either scenario above, you still get to keep the money you got selling the option, AND if the price of the stock doesn’t go above $20, you still have your shares! Let’s say you charged $20 for that option you sold to buy all your shares at $20. You only had $1000 worth of stock to begin, and you made $20 selling the option. That’s a 2% return (in a month!) It doesn’t sound like much. But do this every month for a year? You’d end up with a 24% return in CASH on your $1000 in stocks, AND you keep the stock!

Making $ 1000 Per Month In Real Life

It sounds too good to be true, but let me give you a real-world example.

Last month, I made $4500 just selling options on 1 of my poitions – 1200 shares of COIN, worth about $250,000-at the time. I sold 12 options contracts for $375 each (that represents a 1.8% return) at the beginning of the month. The price didn’t get above my target and so they expired worthless, and I got to keep the $4500!

But what if the stock had gone above my target price? Let’s say the calls I sold for $375 each were at a price target of $210, and the price at the end of the month was $212. The person who purchased the option would probably exercise + sell, so they would make $2 per share buying my shares + reselling them immediately. I would actually be forced to sell my 1200 shares at $210 each (meaning I technically “lost” $2/ share). With that $252,000 in cash, plus the $4500 I got from selling the option, I’d have a total of $256,500. I could then just re-buy all the shares for $254,400, keeping the $2100 left over as a profit!

So you see even if you are “forced” to sell the stock, you can just re-buy it and keep selling options against it again.

What about Cash-Secured Puts?

Selling puts works the same way, but starting with cash and if it goes “wrong” ending with you buying the stock. You are selling the right for someone to “put” their shares to you. Which is a fancy way of saying they have the right to make you buy them from them at an agreed price. So if you sell a put for 100 shares of a stock worth $10, you would need $1000 in cash to “secure” that put. If the price falls to $9, the seller has the right to make you buy at $10, netting them a $1 per share profit, or $100. But you then get the shares of stock, and can start writing covered call options against them.

So there you have it – taking money and stocks you already own and selling, not buying options, you can earn 2% or more per month without giving up the cash or stocks. If you do this with a portfolio worth not even $50,000, you can easily make $ 1000 per month selling options!

Generating Income

Monetizing Your Business

So every business needs some form of capital, and a way to earn income. There’s so many different ways to achieve this, but I want to talk about my new business and the ways in which I am monetizing it creatively.

Creative monetization to me means exploring ways to earn additional revenue on top of just selling a product or service. It means going beyond just your primary income source and finding additional revenue opportunities. This can include up-selling / cross-selling, partnering with industry-adjacent companies, affiliate sales, and more. It really depends on the particulars of your business. Hence the “creative” bit…

Start-up capital

A quick note on this before we get into monetization. The initial money for a business has to come from somewhere, usually your own savings. That’s also the case for me with this new business – I’m basically fronting the capital in hopes of bootstrapping something that makes more money.

This is how most businesses start. Some start with an initial “seed round” raise, but in most cases it’s just “some person” with a bit of money, time, and an idea.

My Income Sources

Alright time for the meat of this – how am I gonna make money with my kooky reselling business?

Obviously direct sales is the primary revenue generator, and likely will be for a good while. Because of existing competition I’ll be boosting revenue from a few sources.

Recurring Income

Paid membership to a site, store, or service has been a culturally accepted way to do business for a while now. Costco and BJ’s wholesalers are a prime retail example, while the various “box-o-stuff” companies offer an insight into the online way to do it. Do I even need to say SAAS? That whole model is recurring subscription revenue.

As I mentioned in my previous post, I will be making use of Patreon to manage these subscriptions for me. With Patreon, patrons can donate as little as $1 or as much as you want – you can set the tiers and rewards.

In my case, I’ll be offering Patrons discounts on the goods and services I’m selling and a few other unique perks related to my industry. This will act as a gateway to both recurring revenue and the ability to generate revenue-on-demand via sales, etc.

Income-on-demand

With a base of Patrons established, I’ll be able to take advantage of having contact information and a communication channel established to generate additional income.

Perhaps a related company is offering an affiliate opportunity that I can present to my customers (assuming it adds value to them, of course!). Or I can close out old or less valuable inventory with flash sales to lower my carrying cost and put some cash in my pocket when needed.

The point is, having an already loyal customer base can generate additional opportunities, but be careful.

You don’t want to alienate customers with over-offering or spammy sales pitches. At some point they’re going to realize you are treating them like a cash cow. If you are, not only will they never come back, but they may actively work to discredit you.

Like in the real world, at the end of the day all you have is your word. Don’t abuse it!

Ad Revenue

I also mentioned previously that I’d be creating Youtube videos as a part of this business. When you reach a certain viewership, Youtube allows you to earn around $3-5 per 1000 video views.

First, I have to even get to the point where I can offer ads. And even after that, it will likely translate to $3 or $5 per video for me to start. With enough viewership, content itself could eventually produce several hundred dollars or more daily.

Wrapping it up

So for this business, the plan is to generate revenue from:

  • Product Sales
  • Recurring monthly subscribers / supporters
  • Youtube Ads
  • On-demand sales, promotions, etc

Just as with your personal life, if you want to increase your chances of getting rich with a business, you need to have multiple sources of income. Hopefully this should get you thinking about creative ways to monetize your business.

How to become an Instagram Pro in 5 Minutes

Okay, let me take you back a few days. I thought it would be great I stole the idea to do a “12 Days of Christmas” themed giveaway on Instagram for my business. Remember my thoughts on doing original things.

Actually, I’m still in the process of giving away this stuff. How, you may ask?

Instagram.

For those wondering, I deactivated my Facebook for close to 2 years ago now and have never used Instagram or Twitter in any meaningful way until only a few days ago. I am in no way an expert on this stuff.

That said, I was given a couple of awesome pointers at the outset and now have a few great insights of my own to share that I think can help get people start to quickly build a community on Instagram.

Before you start using Instagram – a few pointers I got

So this first one is actually from me – this is another project or activity you are committing to. Hopefully it will increase your reach and visibility, and improve your community.

But social media is not something that should be approached any less seriously than any other part of your business. Make sure you have the attention to respond to people throughout the day if you decide to use Instagram, or other social platforms.

1. There are 2 types of people…those who read…

A large portion of your activity will be people engaging in your content by just “liking” it as they scroll through an endless sea of content. Your content will need to:

  • Be visually appealing
  • Have a clear call to action, if any
  • Engage / Inform quickly in your post

You can’t rely on any more than half of people to ever read your posts, and that may be incredibly generous.

Tactically, you can use the “add to story” option to create visually appealing pictures and edit existing images to add text, links, etc. Then, take a screenshot and edit to upload the image as a regular post instead of a story that will fall away in time.

I’m going to have to explore the benefits of stories more later… I’m only just posting regularly for now, since I think they disappear? Like I said I’m new!

2. Use emojis. Seriously – you feel stupid at first, and they totally work

For whatever reason, people place a TON of meaning behind emojis. It can be personal meaning unique to that individual or a shared group meaning across the world. That’s powerful – those meanings cause emotional reactions from people, and tapping into that (even accidentally) will help drive interaction and response – or engagement.

Use emojis to set the tone of your message, or just use them as a “non sequitur”. Can’t think of a good emjoi to use in 10-15 seconds, or can’t find one reasonably quickly? Just grab something random and crazy. Be tasteful, but you can learn which emojis cause different reactions over time.

3. Hashtags really matter on Instagram

A ton, in fact. Over 95% of my inbound visitors were based solely off of hashtags. For a new account, this alone should make you take notice.

If you’re looking to bootstrap a following quickly, you need to spam the bottom of your posts with hashtags. The more the better. 15….20….more – whatever you can think of. If you’re struggling with suggested hashtags, find similarly-niched accounts with better numbers and use those!!

So there you have it – the 3 secrets of Instagram from someone with 20 followers and a 4 day old account!

  • Visually appealing posts
  • Solid Emoji game
  • #HashtagEverything

I look forward to learning more and opening up my account to some analysis in future posts!

Can You Make Money Online With Surveys?

This is such a hot topic even in the current year and I just don’t understand why. Well I guess I probably do. But I’ll save you a lot of reading. Can you make money online with surveys?

Not really.

If you’re looking to make money online, read instead my post What are the ways to make money online for a solid overview of what types of businesses actually make money online.

Why Surveys?

In my post 3 Reasons Why You Can’t Make Money Online, I spoke about some of the behavior pitfalls that get in the way of success when starting a business.

One of those was not being willing to put in the effort.

And that’s what Surveys are – low effort.

I’ve often found those who struggle at making money online are the ones who aren’t willing to do what it takes, day after day, to get the results they want. They’re looking for the easiest way.

If that sounds like you, you need to cut it out now!

So how much can you make?

Realistically – only about a couple dollars an hour.

This kind of information – your opinions, your personal data, etc – is very valuable to companies in aggregate, but not very valuable to you individually.

Consider this – the average facebook user in the US is worth about 30 cents a day in terms of advertising!

That’s it…

This is the reason why you can only make a couple dollars an hour answering surveys. It just consumes all of your attention, and will never be profitable, except for the survey company selling your data in bulk to advertising companies!

And that’s that! Stay away from surveys!

The All-weather Portfolio Strategy

Is it possible to build a portfolio that will build and secure your wealth while still generating sizeable returns, in any financial climate?

I think so.

I hate hate hate the “D” word – Diversification. When it comes to getting rich, I think portfolio diversification is one of the biggest lies sold to the masses. Diversification is a strategy for the already rich!

And that’s what this post is about – how to construct a portfolio that will keep your wealth secure while continuing to grow it regardless of the market conditions at the time. This is not for people looking to build wealth, as diversification actually lowers returns over time.

Everyone always picks on Jeff Bezos. Well since 2006 Amazon returned an average of 558% return each year. A lot better than a “diversified portfolio” of 500 stocks that averages 8% a year.

Cash is the backbone of any portfolio

“Cash is king” – this is investing 101. You should always carry enough cash to cover 2 things – potential opportunities to invest in and emergencies. Being stuck without cash can be a disaster. You have to use debt financing, which is expensive, and sends your net worth in the opposite direction of what you intend.

How much cash to hold is another question entirely. Some people recommend a 3-month buffer, others a 12- or 24-month “emergency fund”. As for your non-emergency cash – anywhere from 0-50% of your portfolio or more can be appropriate. For myself, I try to keep it at around 20%. This is sizeable enough to take advantage of just about any investment opportunity I may want, but also not so much that I feel like I’m barely making anything on my investments.

When I am a little light on cash, it’s time to sell some winners (or losers, if I have any) to rebalance. Otherwise, if I’m too heavy into cash, I start hunting for my next opportunity.

Stocks for appreciation and yield

Rather than owning a broad-market index, I prefer to pick and choose specific stocks of companies I believe will do well for years to come. Not only do stocks increase in value, but they can also provide 2 streams of income. More on that in another post.

Most people are afraid to pick individual stocks and “get it wrong”. This definitely happens a lot but generally owning strong companies for the long term will outperform the market. Easier said than done, but I’ve managed to do okay so far. Right now stocks make up about 50% of my portfolio.

Precious Metals provide portfolio security

Hardly anyone owns gold and silver, the two “monetary metals”. Yet they are the ultimate hedges against inflation and have been the best investments at various times throughout history. I believe this is another one of those times, and so do some of the best-educated investors of our time. Mike Maloney wrote the best “Guide to Investing in Gold and Silver“, which is actually the book that got me interested in investing and personal finance to begin with!

With gold and silver, a little bit goes a long way. You should really aim for less than 10% of your portfolio in metals, unless you are going through currency collapse and hyperinflation, at which point you should probably have it closer to 90%. In the event of a currency collapse, that 10% may turn into 90% without you having to do anything, which is exactly what gold and silver are for.

Real Estate as the biggest wealth generator

Rental income, tax benefits, price appreciation – what’s not to love? Real estate is hands-down one of two things that the ultra-successful use to get rich (the other being owning their own business). There are so many benefits to owning real estate, that while you’re trying to get rich it’s one of the most surefire ways to climb the later. But as a wealth preservation mechanism, real estate is almost without peer. Being able to generate tax-advantaged income through renting is what sets real estate apart – the yields are often far higher than with other assets.

10-20% of your money into real estate can set you up with a recurring source of revenue that nobody can take away from you!

Alternative assets

With the advent of Cryptocurrency an entire generation of millionaires has been minted out of virtually nothing (ha!) Digital currencies and blockchain technology are among the most popularized alternative assets, but other things like mineral and oil rights are available as well.

These types of investments are generally the most volatile and risky, but can also be the most rewarding. They can add depth to your portfolio with assets that aren’t correlated like stocks, bonds, and currency tend to be. For myself, I keep between 10 and 20% of my portfolio allocated to alternative assets. Watching your money 10x in less than a year is a hell of a drug!

Putting it all together

So what does this all look like? Below is a simple example portfolio, and happens to be approximately where my money is currently invested as of the writing of this (August 2021):

So there you have it! A great portfolio allocation to keep and grow your wealth through any market conditions. Disagree? Let me know about it – I’d love to hear your thoughts!

Ask For More Equity

When you first start working at a startup, your salary is typically lower than the market rate. Startups are often light on cash, which they make up for by offering equity – or options or shares in the company. Often this equity will be discounted significantly, because the company is growing, it is not as valuable.

Equity is a tremendous opportunity to build wealth, if the company does well and eventually goes public. A person who was granted 10,000 shares of Facebook in the early days is a multimillionaire today, if they kept it.

These stories are commonplace among the startup world. I have been awarded equity in 2 separate companies. Both are among the best investments I ever made.

But you usually have to last a year, and sometimes as long as 4 years, before any of it pays off. You may never actually make any money from equity if there isn’t a liquidity event, like an IPO.

My biggest regret for each is that I didn’t ask for more. Most companies can afford it; they have tens or hundreds of millions of shares. A few hundred or thousand more likely won’t make a difference for them, but will for you.

Whenever you get an offer at a company that has any stock incentives, ask for 20-30% more than you are offered.

This alone would have made me hundreds of thousands of dollars had I known. At the time, I dismissed my own value and didn’t know better.

It’s not my job

I had a conversation this morning with someone pretty early in their career that asks for my advice occasionally. Their company isn’t doing so great and they’re all trying to right the ship. This person is in operations and “not a salesperson”.

Their biggest problem is lack of customers, and to solve that everyone is being asked to cold call leads. They had called me to ask what they could do and I said “it sounds like you should be on the phones with everyone else”.

This was their response: “It’s not my job. Why should I have to make calls to clean up their mess?”

Oof.

I said that for starters, if they didn’t help out, they’d find themselves out of a job when the company shuts down. That should really be reason enough – it’s up to everyone to pitch in, no matter who “caused” the problem – or everyone loses. In this case, they literally all could lose their jobs.

I told them I was disappointed in the attitude they had demonstrated. “Your job” is whatever the company needs it to be. Your job is not just to understand and execute what is being asked of you.

You need to be flexible enough to meet the needs of a changing company, and willing to grow, learn, and provide input to help the company meet all manner of new challenges. This won’t change just because your company does.

And then I realized what was really going on; they were scared. They were afraid of being threatened, cussed at, told ‘no’. Growth is UNCOMFORTABLE. It’s not always puppies and rainbows, and that sucks sometimes. But leaning in to that discomfort and setting aside your fears or pride is the way to come out less battered than you otherwise would.

I got a text about 2 hours after our call. “I’m going to make 10 cold calls starting at noon”

At the end of the day, what doesn’t kill you makes you stronger. Take your stressors and discomfort and flip it on it’s head. Ask yourself “What can I learn or how can I grow from this”.

Steal it

Don’t reinvent the wheel.

A mentor once delivered that advice while showing me his “swipe file”. He opened an innocent-looking word doc to reveal hundreds of pages of material he had chosen to simply copy and paste from ads (he was a copywriter) he had seen over the years.

What he had amassed was a treasure trove of material, not to be plagiarized, but adapted. He found the best of what was out there and incorporated it onto his own copy.

The same is true regardless of the work you’re doing.

For example if you’re hiring and need a job description – just search for a handful of examples and copy them. Obviously you’re not going to use them verbatim… you have to modify them to be relevant to your particular job.

It’s silly to spend extra time on something someone has already done.

3 Reasons Why You Can’t Make Money Online

For years I struggled to make money online in any meaningful way. I re-sold CDs in the early 2000s just before MP3 players shut that down. I sold custom-engraved luxury watches to 30 people in 10 months. I think I made a couple hundred dollars after expenses. I didn’t even launch my first information product – just wasted a year pretending to work. I started a coffee company (that’s a story for another time)…you get the idea.

Struggling and failing to make money online is natural – we all have to start somewhere. But those struggles help us grow and improve so that we can succeed at it. If you’re just starting out trying to make money online, or you’ve been at it for years without much success, this is for you.

I’ve put together below a list of the top reasons why people can’t make money online and what you can do to overcome them. Check it out!

1. Your Own Behavior

I’ve been accused of burying the lead so outright the absolute number 1 reason why people fail to make money online is their own behavior.

Your own behavior is the biggest predictor of success

Look – just like anything else – if you don’t put any effort into it, you won’t get any results. This industry has a bad habit of telling people they can get super mega rich with 0 effort.

Some people just get lucky. And on the flip side, there are extremely valuable products out there that teach people how to make money online reliably and successfully. I know because I’ve purchased them and through that knowledge have made my own online empire.

There are so many kinds of destructive and positive behaviors, but the ones I’ve found will make or break you are:

Positive

  • Following things through to completion
  • Having the discipline to spend time every day on the business
  • Investing money in training and self improvement
  • Positive, but realistic, attitude
  • Believes in self improvement as the ultimate investment

Negative

  • Getting distracted easily
  • Expecting immediate results
  • Giving up at the first sign of trouble
  • Scarcity mentality
  • Feeling entitled to success
  • Making excuses

I’m not going to explain these all – it’s pretty simple. If you are looking for shortcuts and believe things should be handed to you, you’ve either bought all those internet marketing lies or are delusional!

People who are successful at making money online have tried and failed dozens, or possibly hundreds of times. They aren’t afraid to take risks, and engage in virtuous cycles of activity that lead to further successes.

When I first started my online business, I wasn’t making money because I wasn’t working on my business every day. I would get dismayed at the first roadblock and give up. I was so frustrated that it seemed like I couldn’t get any traction no matter what I did. But I didn’t do that much at the end of the day.

Here’s what you need to take away – it’s on you to make it happen.

2. Your Niche

In real estate, the rule everyone knows is “Location, Location, Location”. Your market Niche is the equivalent of Location in making money online. Not all niches are created equal.

When evaluating your niche, you have a few factors to consider.

Market Size

Is there a market? If so, how big? If not, why?

Too big of a market (hundreds of millions of “potential customers”) will likely make you one voice in a chorus, shouting for attention. Too small of a market will likely have no customers.

A prime market for most people is big enough for to have several million potential customers. It’s big enough to make reliable income online, but not so big that you have to be in the top 1% of performers to be successful.

If there’s no market, it may not always be because there’s no demand. New business categories are invented all the time, and being first isn’t always a bad thing. However in many cases, especially online, if there’s no market it is a strong indication of no demand, which is a bad foot to start on. Just tread carefully.

All that said, there is no “best” size. It all depends on choosing a market niche that you are passionate about, and adapting your business to the size of that niche.

My first business failed because my market dried up overnight. My fourth business failed because my market was “Everyone?”. If you’re too specific or too broad, you’re setting yourself up for failure and you’ll never make money online.

Market Saturation

Blue Ocean Strategy outlines the idea that markets can have many participants (red ocean), or few participants (blue ocean). Assuming the quality of the market and size of the market is enough to sustain a growing business, or could grow, the book argues it’s better to find opportunity in “blue ocean” niches.

This doesn’t mean you have to invent new categories of business to be successful. But you do have to evaluate how many competitors there are if you want to find a niche worth starting a business in. Some competition is good. Too much competition drives down quality and price, unless you have something special that helps differentiate you.

Which leads me to…

Standing out

My final comments around niches are that you need to be doing something to separate your business from all the others out there. Price can certainly be a differentiator, but competing on price is a “red ocean” tactic that usually leads to you pricing yourself out of business!

You have a unique perspective, talents, personality, and take on your niche – and that can be all or some of your “secret sauce”. But you’ll need to be creative in finding ways to distinguish yourself.

Think how you can build a premium brand, product, service, etc – “best in class” usually demands a premium (which means more $), and attracts customers just by virtue of being the best. Can you improve quality, or is there a luxury opportunity in your niche to capitalize on?

If you’re sure you’ve got a solid niche with good potential that isn’t too crowded, then it could be this last part – your key differentiator – that needs work.

3. Your Sales Funnel

Your sales funnel is the true “meat and potatoes” of making money online, and the hardest part to get right. If you can make converting funnels, you will never find yourself out of money.

Before we get into the 3 biggest “funnel failure” areas I’ve seen, I want to take a brief detour and talk about the idea of split-testing. If you haven’t heard of split-testing, it involves running multiple versions of an ad, page, funnel, or even product, and analyzing the results.

Split-testing is how you find out what works – you run your current ad against another one with the new changes, for the same duration and amount, and compare results. While this isn’t exactly foolproof, it has led to most of the way you see ads structured today. So make sure to always be comparing ads for performance – go with what works but keep looking for better!

Technical

One of the more obvious signs your funnel is failing is when something is technically wrong. A page doesn’t load, a critical button is missing, or the wrong video is displayed.

Whatever the cause, these are the “easy” ones – you just fix the link, copy, image, etc.

Sometimes you may need to consult outside help for setting up a new piece of software or technology, but in my experience there are guides on how to do just about any individual task online – all you have to do is search.

Whatever you do, be sure you learn how to fix it for next time if you can – part of making money online involves improving your own skillset and understanding how to operate it! These days, almost all but the most cutting-edge technology is very user-friendly.

Copy

I’m not going to get too far into the weeds here, because honestly, I’m still just a novice at writing copy. But I do know that the way you maximize your words through advertising copy can have a BIG impact on your bottom line.

Good copy evokes feelings in your customers, and people are more likely to take action the stronger a feeling engaged is. That doesn’t mean you should just go piss off your customers just to make a sale. This (NSFW) Key & Peele clip comes to mind immediately…

But it does mean that the words you use in advertising your business are vital. Remember when I mentioned split-testing up above? This is a key solution for fixing “broken” ad copy. Try rewriting your ads to elicit more emotion that is likely to drive customers to buy (solve a huge problem or fulfill a burning need), then test against your current ads to see which one does better.

If you’re interested in learning more about how to write amazing ad copy, I recommend Mike Dillard

Traffic Quality

Know Your Audience
Most people skip the step of getting to know their audience in trying to make money online. Who are your customers? What do they like? What do they do?

When you don’t know who you are selling to, you end up trying to sell to everyone

This is a surefire recipe for disaster. Make sure you analyze your customers demographically across as many dimensions as you can. Sometimes you may have more than one, or even several, types of customers. For each of them, create a “persona”.

For example, one of my businesses has a persona, Dan. Dan is a 34 year old married man with 2 kids that plays games and enjoys whiskey.

I sell to “Dan’s” all around the world on a daily basis because I have locked in on some key likes that all “Dan’s” have in common!

This is how you can use personas to segment your customers and target their interests more effectively.

Use The Right Keywords
The other key aspect of traffic wrong is keywords. To make money online you’re probably going to need to run ads. In many cases, you’ll pay per click, and costs for “premium” keywords can skyrocket.

For more on Keywords, check out my post How I generate Endless “GoldMine” Keywords here

Is there anything else?

There’s always more, but like I said at the beginning, you have to start somewhere.

Hopefully this has helped you where you’re struggling in your business. If it has, or even if it hasn’t, let me know and I’d love to hear from you!

How I generate Endless “GoldMine” Keywords

One of the things most online business owners struggle with is coming up with content and advertising keywords.

It’s really the make-or-break of the business. Bad keywords will be a huge cash drain instead of a money maker for you.

Better Keywords through Technology

There’s a laughably easy way to find an endless supply of high quality keywords that potential customers are actually searching for. Instead of having to brainstorm a list of related words, search terms, etc. for every piece of content, experts go directly to the source and find out the exact phrases being used in your target market.

That solution is AnswerThePublic.

AnswerThePublic uses search history data to relay the exact search terms your future customers are using.

You start by entering a broad search term, like “start a business”. Then, choose which country you’d like data from (your own is best). Hit the search button and voila! It’s literally like printing money.

You get a trove of actual phrases people have searched, ranked by popularity and relevance. Here’s an example of just some of the keywords my search for “start a business” turned up:

AnswerThePublic Keywords for “start a business”

This search alone has enough ideas for at least 10-20 high quality, relevant pieces of content, including adwords. These are the exact keywords that you should be targeting instead of generic terms.

And at $99 a month, the Pro Plan is a steal. It honestly paid for itself within the first month of me using it. I was able to target my potential customers much easier and at the same time provide them with higher quality content that was directly relevant to what they were looking for.

If your keywords aren’t working out and driving customers to you in droves, you need AnswerThePublic.