In a recent post I discussed how my primary business is affiliate marketing. While it’s taken me a few years to make it semi-automated, I still think it’s a great option for people who want to have freedom while running a remote business. As of today, I spend an average of five hours a week on this business. The best part is… it generates a sizeable and predictable amount of income.
Is Affiliate Marketing Right For You?
I honestly feel affiliate marketing is a great business for many people. Especially those who embrace the concept of lifestyle design.
Many people hate the 9 to 5 office environment. They know life is about the important things. Not punching in and out of a job like one of Pavlov’s Dogs. Unfortunately these same people are afraid to pull the trigger and quit their job because they don’t have a backup plan for generating an income.
But it doesn’t have to be this way.
In this article, I’m going to give you six reasons why an affiliate marketing business can be your ticket to lifestyle design.
Reason #1- It’s Built On Systems
I’m a systems junkie.
Especially the kind which run with minimal supervision.
With affiliate marketing it’s easy to set up a process that’ll create an income stream.
Sure it takes time.
It requires effort.
And sometimes you have to do stuff yourself.
But overall I feel it’s a business that’s specifically designed for systems thinking.
Why are systems important?
When you have a system, it’s easy to make small changes. These tweaks to your process can have a huge impact to your bottom line.
For instance, let’s say you have an opt-in page where you get a 30% subscription rate. This produces $3000 in income each month. Now let’s say you make a small change to this page which increases your opt-in rate to 40%. That one tweak to your process just produced an extra $1000 per month.
Now this isn’t a hypothetical scenario for me. In the past I’ve spend ten minutes making small changes to my affiliate marketing system. And these tweaks have brought a sizeable increase to my revenue stream.
Reason #2- It Can Be Automated.
Many people love the idea of lifestyle design because “work” can be automated.
With affiliate marketing you don’t have to be a cog in the machine. After putting your system in place, you can outsource (or automate) most of the process. This leaves plenty of time for you to concentrate on doing what you love.
SIDEBAR: It took me a few years to get to the point of automation. So I don’t want to lie to you and make promises about how this is an easy business to get going. It does require some work. The good news is I plan on including a lot of “how-to’s” and tutorials on this site that’ll help you dramatically reduce this time.
I would recommend doing everything at first. You want to know how the process should work. Then later on, outsource whatever you hate doing.
For instance, many people dislike having to generate website traffic to their affiliate business. Fortunately this is a process that can easily be outsourced. You could hire writers to produce ezine articles. You could get a virtual assistant who handles your social media sites. And you could even hire someone to create videos for YouTube. All of this can be done with your minimal supervision.
Reason #3- It’s Scalable
Scalability is a very important word to remember.
You want something that’s easy to manage. The problem is many business owners get overwhelmed when they have too many customers.
Scalability means that your business process can handle 10,000 customers just as easily as it would 100 customers.
The perfect affiliate business grows without requiring YOU to do extra work to handle this increase. Like I said before, it’s important to create automated processes. Therefore your business won’t suck up all your time as it expands.
Reason #4- It Has Many Problems
Many people make the mistake of building an affiliate business that only solves one problem.
I recommend a very specific plan. Find a niche that has many problems.
Focus on becoming an expert on one specific theme.
Then use this knowledge to recommend specific products that help people solve other problems they’re experiencing.
Let’s use this blog as an example.
One of the themes is lifestyle design.
Many want to live a life with freedom but don’t know how to overcome many of obstacles. They have problems which include the following:
- “How will I get money?”
- “What do I do with my free time?”
- “How do I stay in contact with my family?”
- “Should I build a long-term or short-term business?”
- “Will I be safe traveling in certain countries?”
- “What should I outsource?”
Now these are a few questions I just rattled off. I’m sure I could come up with at least a hundred if I really put my mind to it. (You better believe I’m going to do this really soon!)
What’s great about affiliate marketing is you can target a specific niche and figure out the problems that keep them up at night. Then you can gently recommend certain things that’ll help out these people. They solve their problem. You make money. It’s a perfect win-win situation.
Reason #5- It’s Easy To Get Started
You could start an affiliate business in five minutes. Seriously. In the time it took you to read this article, you could register a domain, pay a few bucks for hosting and be ready to make money.
Though I don’t recommend it, you could even start without paying a dime. All you have to do is install a free blog, grab an affiliate link, and start promoting your offer.
My point is simple. Most business require a lot of time to set up. With affiliate marketing, you don’t have to wait days or even weeks to get started. You could do it right now.
Reason #6-It Has Unlimited Income Potential
There isn’t a cap to how much money you can make with affiliate marketing. I’m not promising you’ll make millions of dollars. However it is possible to earn an income that supports you full-time.
Personally, I know I could probably double my income if I only concentrated on my affiliate stuff for the next year. Unfortunately I like to have a little too much fun. J
The point is you can write your own income if you keep working on your affiliate marketing efforts. You don’t have to ask your boss for a raise. You don’t have to get a second job. All you have to do is keep tweaking your system and adding leads to your process.
Should You Be An Affiliate Marketer?
Here’s where I’m going to throw you a curveball. Personally I think affiliate marketing is great for my lifestyle. But I wouldn’t recommend it for everyone. In a few days time, I’m going to follow up with a post which tells why you might NOT want to do this business.
Stay tuned…Take Action. Get Results.