Wednesday, May 6, 2009

Three Simple Money Making Ideas

What are the most important "things" that will get you more money?

Master investor Warren Buffett has spent years to perfect his money making ideas and is one of the world's most successful investors. In 1999, he was named the Top Money Manager of the Twentieth Century. Time magazine listed him among the 100 Most Influential People in the world in 2007.

What is his secret formula?

"I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over." - Warren Buffett

Just imagine how disappointed you'd be after working hard for months on some money making ideas, only to lose valuable time and energy. A bad idea combined with all your efforts is like banging your head on the wall. It just won't get you anywhere.

So, here are three simple money making ideas that will let you "step over the 1-foot bars" and get you the money you deserve.

1. Run a blog

Let's face it: Running a blog will not turn you into the next Warren Buffett, obviously. But imagine having a free lunch every day, or enjoying a free cappucino every afternoon.

But, making $3 - $5 daily, using ads on your blog, is nothing... right? Wrong! Spend an hour on setting it up and then 10 minutes every other day to update it and you'll make $1000 in a year!

How would you spend that extra cash?

2. Buy cheap, sell high

This sounds so simple... and it is!

Here is an example: Every time I go downtown to get myself a free cappucino (see tip nr 1), I pass a small bookstore. They sell old, used books. They make their money by selling a lot of books, and the books are dirt cheap. The bookstore has no niche, relying completely on random customers.

Fortunately for me, I have friends who are interested in old books about geography. Very interested actually! So, once in a while I go into the bookstore, buy any old books about geography, post them on ebay and tell my friends to bid on them. It just never fails!

Of course, the same money making idea can be used for any kind of goods.

3. Become an affiliate

Wait, does it sound like some sort of "get rich quick" scheme? It's not.

First of all, you don't get rich quick being an affiliate. Second, it's not a "scheme". A lot of "big, traditional enterprises" run affiliate programs with great success.

The basic concept of being an affiliate is: 1. You find people who needs "something" 2. You tell them about a specific product or service 3. You get a commission when they buy that product or service. That's it!

A good friend of mine made $148 last week simply by promoting a specific web hosting company. It's not much, but it's real money!

Bonus Tip: Find a partner! Working together with a good partner will keep you motivated and split any costs in half... and it's much more fun!

Conclusion
The most important things that will get you more money are: some simple money making ideas.

So, which of the three simple money making ideas can you start doing today?

2 comments:

  1. Hi Ocliff,

    You have some good points here.

    Like you say, it's always better to start with something that is easy. Once you have passed the startup process, you tune your process until it's perfected.

    Have a great day!

    ReplyDelete
  2. i'm very interested in your advice about blogging, what is the first step?

    about affiliating, i need a web site, right?

    ReplyDelete