To make millions online will take you a few years. It is not easy, but it can be done, by following this simple plan. Lock away your credit cards; all it takes is hard work.
In your first six months you wrote over 500 articles for Info Barrel and set up a blog, probably two or three blogs. You should now be reaching payout from Adsense every month. After six months the
writing is starting to get you down, that's life, if you want to make millions online it can only be done through hard work, and you are going to need to keep writing for a good while yet.
Gradual Growth Option to Earn Millions Online
You are still in the first, Start Up phase of your business, where you have to do all the work, but that is about to change. You are gradually going to transition from the Start Up Phase to the Growth Phase of your business, where you start to employ people.
At this rate it will take you 18 years to earn $108,000 a year and a total of one million dollars. There is a quicker way.
You have a choice of slow growth or faster growth. Slow growth is risk free, the faster you intend to grow the more risk is inherent in the plan.
Rapid Growth Options to Earn Millions Online
More rapid growth can be achieved by investing your Adsense income in outsourcing your articles to a freelancer.
The most rapid growth is achieved by borrowing money to allow you to outsource more articles sooner.
Outsourcing Articles Using Adsense Income
If you invest every cent of Adsense income into outsourcing new articles then:
Year 0 (First Year) 1,000 articles, average 50c per month each gives an income of $500 a month, $6000 next year
Year 1 profits ($6,000) reinvested in outsourcing articles at $5 each, 1200 new articles.
Year 2, 1,200 outsourced articles + 1,000 you write gives 2,200 new articles plus 1000 from previous year gives a total of 3200 articles, still earning 50c per month gives an monthly income of $1600 and $19,200 a year (against $12,000 a year without outsourcing).
In Year 2 you will have to research 384 new article titles, more than 10 a day. The numbers work for the first year but after that you will need to employ someone to do the research as well as to check the quality of the outsourced work. It gets a lot more complicated after that, as you need to employ more people. In your third year you will need to employ a manager to oversee your employees and to run the day-to day business.
Managers are expensive, your business is growing fast, but your profits have fallen to zero as the costs associated with outsourcing skyrocket.
Outsourcing Articles Using Bank Loans
You borrow money from the bank, but there are all kinds of conditions attached to that and they will want security for the loan, usually your house, so if anything goes wrong and you cannot make the loan repayments you lose your house. Most people balk at this idea and back away from the rapid growth option to earn millions online.
Diversify to Make Millions Online
Diversification is the answer to more rapid income growth online. Set up more websites where you give people information, make yourself an essential part of your visitors' days. Once your visitors trust you can then sell them more complex information forever increasing prices…You have become a guru. Is that what you wanted?
Rapid Growth By Moving Offline
There is another way to increase your income but you will need to move into the real, offline world.
You can run courses where you pass on your knowledge to others. You must decide whether to go the guru route, charging people $2000 for a two day course, where you tell them about building an email list and how they, too can become gurus. That will not be to everyone's taste.
You can run courses designed to give people useful information; run courses that offer something other than the lure of becoming a guru. Some people offer courses in how to set up Wordpress or how to get blog visitors. These courses hold the moral high ground because they teach people something useful, definable and achievable, something that can be measured.
Set the stage, prepare yourself over the second six months of your business's life so that you can give these courses with confidence. Educate yourself in every aspect of your chosen subject. Learn confidence in public speaking by joining a local Toastmasters' Club. Prepare your notes and publicity materials. Attend similar talks or presentations and learn how things are done. Look for ways in which you can improve upon the presentations and courses that you attend. In a few months you will be giving these talks, so listen, learn and plan.
Set up a website where you can list your course dates. Keep it simple, just a list and a phone number to contact you to book. You will probably be looking at course numbers in the 20-50 range initially. Decide the fee you would need to charge to cover your costs and the fee that you think the course is worth and that your research shows people will pay. Make enquiries with small hotels about room hire costs and facilities. Can you make a profit, yet still run the course at an attractive price?
Aim to start running these courses one year after your business start up.