Making Money Work for You
Making Money Work for You – is something most of us have not been taught. We all have learned how to deal with money from our parents. It is not taught in our schools; and the financial education is missing. This is a simple understanding of making money work for you: and I can give many more ideas about this subject in the future.
Making money work for you-this is what the rich really do is keep them money making money and working for then to build wealth. I am going to take these concepts from real estate and other forms of investments of the wealthy and bring it down to the Internet marketing business. The question is you making money work for you through an Internet marketing business.
Traffic – for example if you or buying low cost volume type traffic and you cost per visitor is less than a 10th of a cent; then you have a very low conversion rates.(percentage of visitors who purchase from you) and still generate a profit. People do this but do not always generate a profit so are they making money work for them? Then on the other hand, you are paying three dollars per visitor that comes to your site, then, for example on and $99 product, your break even point is 33 visitors. That is a 3% conversion rate (considerable a high online). So to be in profit you need to have a conversion rate better and then 3%. In both examples here if you are making a profit you are making money work for you; and if you're not in profit your money is not making money its losing money.
I can give you the same example with pay per click ads. The truth is no matter what you do if your investment is not be turning a profit on a regular basis you all and not having money work for you. That is why people focus on conversion rates, and list building, because when these are working you are making money work for you.
Here is another example of making money work for you; by outsourcing your products or the labor to produce the products. There are many places online to get freelance writers to write articles, e-books, and many other types of products and software; and they give you the right to put your name on it as the author and creator that you can sell. For this example on going to use e-book and you pay a freelancer writer the e-book for you. Then you soul that e-book for $47 and with a list of 5000 people and a conversion rate of 1 ½ percent you would have sold 75 e-books by sending one e-mail to you'll list. So if 75 e-books sold times $47 equals $3525; and you paid a freelancer $100 or even $350 to write your e-book. You all know making money work for you and you are building wealth.
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ABOUT THE AUTHOR
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Bill Leahy is full time internet marketer; teaching people a simple way of understanding Wealth.