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Can You Make a Large Passive Income From Running a Website?

The best way to make passive income is to sell a digital product. This simply requires that you make or find a digital product to sell, build a sales page from which to promote said product and then use advertising or marketing strategies in order to drive more visitors to that sales page.

This is a very hands-off method of earning an income that will generate money while you’re sleeping and you don’t even need to worry about delivering a product!

But the problem is that this is limited in scope. Eventually, you are likely to exhaust the market for your product and find that the cost of advertising starts to outweigh the profit from your sales.

You aren’t delivering any value to the end-user, you aren’t building a relationship and at the end of the day, this is a technique that won’t last forever.

And that’s why a lot of people are interested in making money from a website. That way, they can build their own brand, build a big audience and then sell products that they’re really interested in and proud of.

But is it possible? Can you really generate the same kind of passive income from a website? How long will it take? Let’s find out.

The Challenge

There are a number of challenges that make it harder to make a passive income from a website right from the offset.

For starters, you will immediately find that the money you make from adverts such as Google Ads is not truly comparable to the money you can make from a digital product. Ads will typically pay out a few cents per click and most of your visitors are not going to click them often. This is especially true these days with so many people running ad blockers and the like.

The other problem is that it can take a long time and a lot of work to gain a big audience on a website. You’re going to be competing with the rest of the web and many of the creators you’re going up against will have gigantic advertising budgets.

The Strategy

But as with most things, the secret is to work smart, not hard.

That means picking the right niche, to begin with. By selecting the right niche to enter into, you will be able to avoid going up against the huge competition (as you might do if your niche were something broad like fitness for example) while at the same time ensuring there is enough of a demand for what you’re selling.

Choose a niche that has clear products to sell to a specific audience and one that will allow you to avoid the hugest competition.

The next strategy is to recognize that you need enough content to climb the ranks of Google and that this content needs to be high quality. This is where it can be hard to keep your model passive but the solutions are either to hire someone who will create the content for you or spend a while writing lots of content so that you can post it gradually over time.

5 Essential Elements to Consider When Investing in Managed Forex Accounts

When choosing potential forex investment opportunities there are many things to consider. Below are five things that you need to consider and keep uppermost in your mind as a potential investor in managed forex products. This is does not intended to be a complete list but is only a basis from which to build a successful Managed Forex portfolio. In the end it is up to the individual to do their own due diligence and not simply rely on the advice of other third parties.

1) Do You Have Complete Control of Your Funds?

The absolute most important thing to consider when evaluating managed account options is ensure you always have control over your funds at all times. If you are dealing with a reputable Forex Broker, and this should always be the case, you should not have too much to worry about in this respect. Further down we cover more on this aspect. If you avoid any type of pooled fund arrangement and use a LPOA or “Limited Power of Attorney” you should then be able to revoke the right of the trader to trade the account should the unthinkable eventuate. Best to be safe than sorry.

2) Historical Performance

Obviously there is a huge advantage in being able to see a managed forex account traders historical performance figures. They also need to be verifiable figures, in the form of original statements. A spreadsheet of numbers or a table on a website doesn’t constitute verifiable figures, no matter what the trader or company does to try and back up their claimed performance figures.

3) Money Management

When it is all said and done all you really have to go off in terms of deciding on a Managed Forex provider is their history. Their history needs to be verifiable, that is audited or displayed as original statements with known authenticity. Don’t settle for a table on a web page or a bunch of Excel spreadsheets, these simply cannot be verified as authentic. If the provider cannot present you with verifiable documentation to validate their performance claims you have to assume that their figures are bogus.

4) The Broker

Another important fact to consider when choosing a managed forex account is which broker they use to execute their trades. Do they offer tight spreads and fair trade execution and do they process deposit and withdrawal requests in a timely fashion? A bad broker can really ruin your whole managed account experience. Often I have had to deal with brokers who take weeks to process your withdrawal requests and can also take weeks to put your funds into trade. This can end up costing you thousands of dollars and months of waisted opportunities. Sometimes it is bureaucratic incompetence while in other cases it may well be something more sinister, all the same it is best to study up on prospective brokers and see if they have a good bad or indifferent reputation amongst other traders.

5) Draw Down

Something that traders dread, but invariably have to deal with is draw down. What constitutes an acceptable level of draw down, and what is down right dangerous to the safety of your trading account? Personally I set the figure at somewhere between 25-30%, others prefer a more conservative 15% whilst others can deal with 50%. For me 50% is simply to much and difficult to recover from. You basically need to then double your account just to recover your original amount. A difficult feat to achieve. Whatever amount you decide on stick to it and do not be tempted to trade out of an impossible situation. That is simply gambling not trading.

In conclusion follow these 5 points and do your own due diligence on any prospective investments you look at. Every success to you with your trading.

4 Reasons Your Small Business Needs Consulting Services

Every now and then, entrepreneurs and small business owners need advice from industry experts. Business consulting is one of the most under-looked services for small businesses that can actually deliver great results. Operating a business for the first time can be very complicated in the beginning, and in most cases, it takes years to learn all the ropes. All of the trial and errors you go through can help with the learning curve, but sometimes it’s at the expense of the entire business.

Why not shorten the learning curve by working with a professional that specializes in small business development? Consulting with an expert can help ensure that your company stays afloat, whether it’s a startup or been around for many years. There’s always something new to learn, especially with the ever-changing world we live in.

The following are five reasons why we believe it’s a good idea to hire business consulting services.

You Can Boost Profits and Reduce Expenses

These are the two most effective ways to maintain a profitable business. It doesn’t matter how much money your company is earning – if the overhead costs are too high, then your profits will always suffer. Sometimes, you need to tweak your methods and add techniques to help drive better results. An expert in business can analyze your company and offer great advice for improving everything from your marketing to your business plan.

You Can Learn the Best Practices

If you are opening an online business for the first time, you’ll quickly learn that it’s a lot different than operating a brick and mortar. Some things are simpler and others are a bit tricky. Working with a business consultant can help clear things up about how things should be ran. It’s information that’s definitely worth knowing for the long-term.

You Can Learn What Isn’t Working

Collecting data is important to see what’s working and what isn’t. But simply pouring over the numbers isn’t always enlightening, especially when you’re unsure of what to look for. A consultant knows this and can offer insight into what is and isn’t effective in your business strategies.

You’ve Run Fresh Out of Ideas

Running a small business takes creativity. Without it, it becomes much harder to compete with medium and large size companies. Using business development consulting services means getting access to someone with a fresh perspective, which can be beneficial for reviving your brand. Reputable SEO companies can offer the best strategies for revamping your marketing strategies so you’re online advertising becomes more efficient.