Can You Really Make Money While You Sleep?
If you’ve been utilizing the Internet for any length of time it’s likely you have been bombarded with junk mail claiming you can make money “while you sleep.” Most sensible people are bound to ignore such claims of easy money. But is it true? Can you really make money while you sleep?
The answer is an absolute YES! However, don’t assume my answer in any way implies that it is a get rich quick while you sleep proposition.
I know it is possible to make money via the Internet while one sleeps as I have been doing it for a little over a month. Actually, I have been utilizing the Internet to market my business and events for several years with a great deal of success, but it is only in the last month that I began aggressively selling products via my website.
Over the last few weeks, between e-products and my latest book, 101 Ways to Get Your Foot in the Door, I have sold a substantial amount of product. Within an hour of launching my products I was making money. From day one, each morning when I turn on my computer I am greeted with sales.
What I most like about doing this is the profit margin. With my e-products the profit is close to 100%. With my books there are shipping and handling costs and yet, the profit is still very nice.
To the casual observer this may seem fantastic. Truth be told, it is. And yet, I didn’t simply put products on my website and the sales miraculously happened.
As is true for anyone who successfully sells on the Internet, I have worked on the backend of launching my products for quite some time. Before I made my products available for sale from my website I had to make sure my systems were in place.
The process began with a great deal of research into how to successfully launch products on the web. I read virtually everything I could get my hands on by folks who are making money on the web. I listened in on teleconferences, went to seminars, bought other people’s products, and spent countless hours becoming very familiar with how the process works.
It is important to state I didn’t necessarily believe claims from someone just because they said they were making money. Plenty of people are claiming to make massive amounts of money on the Internet when in fact, they aren’t. However, there are others who are making incredible revenues from web-based product sales.
Before I would accept what someone was saying, I checked them out. I talked to other people either through email or via the phone to find out what they knew about some of the more “well known” experts. I had the opportunity to talk real-time to some of the experts as a result of taking the initiative to contact them with valid inquiries about their products and businesses.
With each conversation, book, seminar, e-book and teleconference I added to my own arsenal of information. Over a period of about a year and a half, I had acquired quite a storehouse of knowledge.
Knowledge alone wouldn’t lend itself to being successful in this new branch of my business. As with other products and services I have made available at various times to my market, I had to make sure that the products I would be introducing would sell. It’s all very nice to have something you think is great, but will there be people who will actually pay for what you are selling?
I also had to make sure most of the kinks would be worked out prior to launching the products. This took a considerable amount of time meeting with my webmaster. Together we worked on the vision and how everything would link together.
Many people are very skeptical about informational products being sold on the Internet.
They have every right to be as there is a lot of garbage out there. There are people claiming to be experts when in fact, they aren’t.
I also know we live in a “try before you buy” world. People have to feel comfortable with the purchases they make. Communication is key. Before, during and after.
Offering something at no cost prior to asking for a sale is an incredible way to build trust. It is also important to offer multiple choices in products and prices. Some people are more comfortable making a smaller purchase before they make a larger purchase.
For this reason, I have multiple free information products as well as a very cost effective e-book for only $8.95. As you will see when you visit my site and products page, I have several choices I offer.
As with a brick and mortar business, it is easier to sell to existing customers rather than selling to a stranger. This definitely proved to be true with the products I introduced. I have thousands of people in my database. I treat my database like gold because it is. I keep in touch with people in my database.
This is an area that I often see people lose substantial amounts of revenue. They fail to constantly mine their database or keep their name fresh in people’s minds. As a result they are not able to fully realize the profits that come with a well groomed database and name recognition.
As with any type of business, my continued success with this stream of revenues will be determined by whether or not I keep in touch with people, how I market my products and how valuable my information is.
Yes, you can make money “while you sleep.” And yes, it can be very profitable. However, your level of success will be directly proportionate to your level of commitment and professionalism in this avenue of your business as with any avenue of your business.
Copyright © 2004 by Kathleen Gage
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Kathleen Gage is a business advisor, keynote speaker, and trainer that helps others gain dominance and visibility within their market. Get Gage’s FR*EE report “Learn How One Salt Lake City Based Consultant Made Over 100k with One Idea” by visiting www.kathleengage.com.