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  • Affiliate Marketing Introduction: Mindset of an affiliate marketing entrepreneur
    Affiliate Marketing Introduction

    Why do you want an alternate income stream with affiliate marketing?

    Sit down and write on a piece of paper why you want an alternate source of income.

    Paste this note where you can see it eg on the refrigerator door

    I want to be rich just won't cut it.
     
    "I want to build my own business to a level where i can choose not to work for someone else" is a recurring theme in the affiliate marketing circles.


    Setting targets for your affiliate marketing business?

    Target 1: How much money can I afford to invest in my new business to get it up and running?

    You need to think about this very carefully before you even approach the start line. Your online business will not generate a substantial income for the first 3 months it is up and running, and that is for the highly motivated person.
    The money you are willing to invest must be money you can do without.

    You must factor in things like

    • Cost of a decent computer with broadband if you don't already have one
    • Cost of a domain name or multiple domain names
    • Cost of web hosting
    • Cost of educational material [This site tries to point you towards good educational material at a reasonable cost]. You must understand that if your budget is limited then you want to find the best material with the best information at the lowest price. Even if you have a large budget, you need to limit the material you buy or you will end up with a huge library of unread, unused information.
    Target 2: How much time can I afford to invest in my affiliate marketing business?

    So you have come across this exciting business of affiliate marketing. You are Joe Average in a 9 to 5 job that sucks. Hey, you are going to quit your job, tell your boss exactly what you think of him and....

    Hold on a minute, no you are not.

    This is not the time to quit the day job.

    You must first make this business work and then quit the day job if you want to.

    With this in mind, you need to determine, in the context of having a day job, how much 'extra time' you have that can be invested in this business. Then divide that time into two. I'll explain what i mean

    Learn Time: Dedicated to reading you educational material and learning whatever little tricks there are to making your business work, or researching you niche topic or learning how to use software. This does not bring in the dollars but is crucial in ...

    Earn Time: dedicated to the doing phase of your business ie building and publishing your site, writing and publishing your article, writing and sending out your emails to your list, writing ads for google adwords, writing e books, creating products. These are the activities that will bring in the money.

    Target 3: How much money do I want to make from my affiliate marketing business?

    Be realistic, set a sensible target! Say you want to earn $10,000 per month, you then have to calculate how many hours of earn time you need to put in to make this amount or alternatively how much you need to earn per hour of earn time.

    I'll illustrate!!!

    Say your earn time is 2 hours a day, 6 days a week giving a total earn time of 48 hours every 4 weeks [i hope the maths is right] This means you need to earn $10000/48 per hour to hit your target about $210. This is the amount of income this hours work has to be able to generate. It does have to generate this amount during the specific hour but the work you do in that hour has to generate that amount over the course of the month. If that sounds  complicated take a moment to think about it and i am sure the penny will drop.......eventually.

    The other way round is if you know that an hours work for you can only generate about $100 then you need a hundred hours of earn time to make your target.

    The above example is for illustration purposes only.

    Target 4: Within what time frame do I want to achieve my marketing goals?

    You must realize that there will be teething pains so you are not going to make money from the word go.

    It takes time to build a site, find products to promote, get traffic to your site, etc.

    If done right you should expect to be making a reasonable amount by the third month of your affiliate marketing campaign.

    If you are not then you need to rethink your strategy

    Options are starting another affiliate campaign, find a new niche, optimizing your website, and approaching your niche from a different angle

    *************************
    Resource: Affiliate Marketing Introduction


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