I constantly see people asking on forums and blogs about if certain revenue streams make money or are worth doing. They then usually go on to ask how they perform against other programs out there.
What these people don’t realize is that the only way to get the real answer for this question is to try the programs out themselves. This is because every situation is different. What may work for one web site, may not work for another. And vice versa.
For example one of my websites I had tried Adsense and YPN for sources of revenue. They both performed horribly. Instead of going around asking if so and so worked better, I just tried them. After a couple tries I found a program that performed well on my site. In fact in one month it has made as much as I had made in the last year with Adsense and YPN.
This is not to say I haven’t wasted my time on some things. I have. My sites have sent 100’s of visitors to programs that I didn’t receive a dime for. Others however, have made me and extra $1000 a month.
If you really want to improve your bottom line with your web site, don’t ask how to do it. Test some things out. This is the only way to find out for certain. Sure, you may lose some money in the short term, but you will make money in the long term if you find a program that performs better that what you are currently running.
Written by admin on August 2nd, 2007 with 1 comment.
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If you know that something is going to happen, you can make money off of it. This fact is something that many people take advantage of when a new console system is released. I decided to try out for myself with the release of the XBOX 360.
How can you make money when a new console system is released? Supply and demand. If you identify that the new system is going to fly off the shelves and sell out, you know that the price is going to go up.
People are going to be willing to pay more for the system because their kids really want the system and can’t wait for it. Other people are going to want it for themselves and can’t wait for more to be produced.
The XBOX 360 sold out pretty quickly creating a sellers market. If you checked the prices on ebay a couple days after the system was released, you saw that the systems were selling at $100’s over the retail price.
I didn’t buy a system on the release day. However, I was able to snag one a week or two after at Costco for $517. It was the premium XBOX 360 bundle with 2 games. I then listed the system on craigslist and sold it for $650 a week or so later.
It probably took me 2 hours total work to buy, list, sell, and deliver the system. After taking into account gas money, I made $125. That works out to be $62.50 per hour, not bad at all.
Here are a few tips if you decide you want to try this yourself with the upcoming PS3 or Wii.
- Buy the console somewhere you know you can return it if the system doesn’t sell. Costco and Walmart have outstanding return policies.
- Know the rules for selling on ebay if you plan to sell it there. There are lots of scammers looking for easy targets. If you’re not careful, you can easily be scammed and lose your system.
- If you plan to sell locally, accept cash only. There are lots of scammers in your home town also. Many will try to give you a fake money order or check for your system.
- Meet in a public place if you are delivering the system. I used a grocery store in a good part of town. You might want to bring a friend with you. You never know who might show up to “buy” your system.
- Undercut your competition in price. There will be many people trying to do the same thing as you. Sell the system for $25-50 cheaper than the other sellers to make sure you aren’t stuck with the system.
My reselling of a new console experience was fun and interesting. Make sure your’s also ends well by having a plan and protecting yourself.
Written by admin on September 19th, 2006 with 7 comments.
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