How to Make Money Online – Case Study Part 1

How to make money online? Start here …

This blog post marks the start of a series of blog posts on how to make money online. More in particular, how to build an online business around your passions.

Please start by reading this blog post if you have not already:

http://chrisc.com/freedom

There are a million ways to make money online.

I used to recommend that people start with Affiliate Marketing. That’s what my Google Cash ebook was all about.

What I don’t like about this model is that you don’t build a customer list. In fact you work hard to build someone else’s customer base.

For this reason I now think that the best way to start making money online from scratch, is to create and sell an Information Product.

Selling your own product gives you much greater leverage. You build a list of customers and you are able to sell to them over and over.

You can also allow affiliates to promote your product for you. And you are able to promote affiliate offers to your customers on your backend.

Information products are great because they are relatively quick and easy to create. And they have a very high profit margin. The reason is because it costs very little or even nothing to reproduce your product. Take an ebook for example. It costs you the same to create one ebook as it does to create thousands of them. It’s a digital product.

How To Make Money Online? Requires hard work …

I have to be honest with you here. Making money online and building an online business is a lot of hard work. There is no way around that.

But there is a secret. And that is that if you build your online business around your passions, then the hard work hardly feels like work. Instead you are doing what you would like to be doing even if you did not have to work for money.

The main purpose of this blog, the whole reason I put it online is to help YOU achieve ultimate freedom and true wealth.

I’m going to teach you how to build an online business around your Passions, Skills and Strengths.

I believe the best way to teach and learn this stuff is through a real-life, live case study.

So here we go with a real life case study.

Making an information product …

I have a friend Mitch Toelderer. He and his wife are professional snowboarders. He is also a doctor and his wife a Physical therapist.

Mitch is 36 years old and nearing the end of his snowboard career.

He’s spoken to me often about how he’s not sure of what to do for income after he finishes his snowboard career. He’s stated that he’s not interested in working as a doctor as the hours are ridiculous and he’d have no free time for snowboarding, surfing and spending time with his family.

I’ve been telling him that he should consider building an online business, an information product around one of his passions.

He finally took me up on my offer of helping him build his online business.

How to Make Money Online – Step By Step

We’re going to build it and I’ll share everything with you here, step buy step.

If you haven’t already, please first read this blog post I wrote, “How to achieve ultimate freedom and true wealth”. That will set the stage for this post.

Mitch started by following the steps in the blog post above.

He took an inventory of his Passions. They look something like this: Family, Snowboarding, Travel, Cinematography, Surfing, extreme sports in general, etc.

He figured out how much his dream lifestyle would cost him, and estimated that $5,000 a month would cover it.

He then did some general market research in the 3 main niches where most of the money is. (money and business, relationships, health and fitness).

His main passion is snowboarding. But he decided that it did not fit in so well with the 3 big niches, and it he wasn’t sure if there was a big enough opportunity there for an information product related to snowboarding.

So he kept on brainstorming his passions and interests.

He realized that fitness training was a big part of his life. In 2011 Mitch was the Freeride snowboarding world champion. He attributes his winning the tour to the specialized fitness training that he’d been doing.

After researching online Mitch decided that perhaps a good niche for him to create a product in is the Fitness niche.

It is a very competitive niche. But it is best to create a product in a niche where there is lots of competition. That means that people are making money in that niche.

Mitch’s thinking is that he can create an Information product around his fitness training to help athletes improve in their sport.

A fitness training specifically for athletes in sports like: snowboarding, skiing, surfing, climbing, mountain biking, tennis, soccer, etc.

A training that helps them get better at and step it up in their sport.

Last year Mitch shared his fitness training system with me and I’ve been doing it religiously. It’s helped me to become a better surfer and skier. Before I could only surf for a couple of hours before I had to come in from being tired. Now I can surf for 4 to 6 hours without a break.

Same with skiing. Before doing the fitness training my legs would tire and often I would have to stop half way down the ski run to rest. Now after doing the fitness training I am able to ski from top to bottom without having to rest.

Many hobby athletes such as myself are looking to improve their performance in their sport. This is what Mitch’s product promises …

Mitch has decided on a niche and possible product to create.

In the next blog post we’ll get into the actual nitty gritty, nuts and bolts of creating and marketing his Information Product.