MMO (Making Money Online) is a great way to generate a new income stream or multiple streams. Many do it as a way to supplement their income, others do it to quit their 9-5 jobs, but very few become super rich off it. Before you start MMO, please know that it WILL cost you in either time, money, or knowledge (oftentimes, all 3).
What is MMO?
Making Money Online is a broad term that is used for anyone who’s making money through their computer or phone over the internet. MMO goes by different names. You will hear it referred to as digital marketing, affiliate marketing, ghost marketing, etc. There are plenty of ways to make money online and it is absolutely possible to retire from your 9-5! But you will be required to learn digital marketing and apply the strategies.
What Do I Need?
If you are just starting out then let me be brutally honest. MMO WILL COST YOU in time, money, or knowledge! Then you have to take action. Start by learning what is possible online. Then figure out which avenue is best for you depending on the resources you have. If you don’t have money, it’ll take more time or knowledge. If you don’t have knowledge or money – then it will just take more time. If you have money and time, then you can get the knowledge pretty easily. But make no mistake – earning money online comes at a cost. Just don’t let that stop you! It’s worth it!
What are the Options?
The options are vast and plentiful! You can sell digital products or services like eCourses, PDFs, and creative works. You can flip items and sell them for more money through sites like Etsy or Shopify. You can monetize your knowledge by consulting or coaching others. You can promote any kind of event. And you can also endorse or sell other company’s products or services. The possibilities are truly limitless!
How Much Money?
This all depends on how quickly you learn and how far you want to go. When you first start out (the first 90 days of doing MMO), expect to make NO money. You are building a skill, building an audience, and building valuable content for them. But that takes TIME. Think about MMO as a long-term strategy, because it is NOT a get-rich-quick strategy. The ultimate goal is to scale what you do so you no longer trade time for money as you would being an employee or self-employed. Once you create an income stream system that’s scalable is when you start hitting financial freedom goals!