Like many people, I first started online by promoting
affiliate programs. I didn't have a product of my own,
and affiliate programs seemed like the ideal way to earn
an income. Why bother with the hassles of creating my own
product if I didn't have to?
For many months, life on the 'net was wonderful. Then
one day the bottom dropped out of my income. One of the
affiliate programs I was promoting heavily closed up shop
-- leaving me with nothing to show for my months of hard
work. Within the next few months, another program dropped
it's commission rates by 65%, and two more cut their
commissions in half.
It took me a few months to recover financially... but in
that time, I realized that this dependence on another
company was exactly what I *didn't* need. Like the other
affiliates, I had worked hard to bring customers to the
company -- only to end up in nearly the same position I
was in when I first got started.
Don't get me wrong; I was grateful for the opportunity to
learn how to market online, without having to worry about
billing, inventory, shipping, customer service, and
everything else a company handles on behalf of its
affiliates. And although it was hard work, the income
was great.
However, it just goes to show that affiliates are at the
mercy of the company. Now, with more experience under my
belt, my opinion is that creating a product of your own
is a far better way to do business. I still use affiliate
programs, of course -- just not as my primary source of
income.
So why create a product of your own? Aside from the
dependency issue we just discussed, there are lots of
great reasons. First of all, it's YOURS. You pour your
knowledge and your heart into creating a product that you
can be proud of. Call it a sense of achievement.
Secondly, you know the product intimately. You know what
it does and what it doesn't do; you can talk confidently
about the benefits of owning it; you can listen to your
customer's feedback and use it to improve the product.
And chances are, you'll be much more inclined to market
it consistently -- especially since you keep all of the
profits, rather than just a commission!
Most importantly, though, you build a customer base of
your own. You can build a long-term relationship with
your customers through newsletters, special offers, new
product announcements... and your customers can offer
constructive feedback, testimonials, and even referral
business.
Affiliate programs are a wonderful way to develop multiple
streams of income. However, having your own product gives
you the option to concentrate on your own success, and on
your terms. Now that's a goal!
About the Author
_____
ABOUT THE AUTHOR:
Angela is the editor of Online Business Basics, a practical
and hype-free guide to building an Internet business on a
shoestring budget. It's a proven hit with beginners, who
love the down-to-earth style and loads of instantly useable
tips! Click here for details:
http://onlinebusinessbasics.com/article.html
Written By: Angela Wu
