One Penny Project - Make Money Research, Testing and Reporting

Wednesday, February 28, 2007

$10 Money Buckets And Passive Income

Based on the work I completed so far with my first $10 money bucket test I want to reduce my risk and do less work next time. So while doing my research I want to focus on ideas that produce passive income.

Interest - I could invest the $10 in a PayPal account and earn about 5%, but at that low rate it will take forever to double. SO that is out.

Commission - Yes, this will fit. I have some ideas, but no details for now.

Rental Fee - Who would rent something they can buy for $10?

Royalty - Not from a $10 investment.

Digital - Yes, this is another idea that could work.

Work of Others - Again, yes I could pay someone $10 to do something then sell it for $20 or more.

As I said before this is a very fun project, many thanks to all those who are following along.

Take Care,

Michael

Investing Money Risk And Reward

The saying goes "The greater the risk, the greater the reward".

The records I listed on Ebay still have no bids. By now I expected at least 1 bid on 1 record. If nothing else, the $3.12 invested in this task is a learning experience. Next time I won't stray so far from what I know.

If I had the time I could record the records onto my computer and burn CDs to include with the record sales. I would then have to delete the files from my computer after selling the record to keep everything legal.

The items that were going over $10 I knew about, but had to stop bidding to keep within the $10 money bucket. I am anxious to head to another auction, but this Saturday will be busy as it is.

I am still working on some ideas for future $10 money bucket investments.

Take Care,

Michael

Tuesday, February 27, 2007

Free Book And Money Ideas

Don't forget tomorrow is the last day to email me if you would like a chance at getting a free copy of "Confessions Of A Serial Entrepreneur". This is the book that a publisher mailed to me and I want to pass it on.

The week before I go on my mission trip I have to go away for work. So that will be 2 weeks in a row that I will be away from my home office. I may need a guest poster for those 2 weeks. If you are interested, let me know.

I will be heading to Las Vegas for an Oracle Applications and Users Group conference, then when I get back I will be home for 2 days then off to Luling, LA for a mission trip.

I am still working on ideas for the $10 money bucket. Thursday I will add in advertising income for February and might have enough to test 2 $10 money bucket ideas.

Some of the ideas I came up with will be fun to try. Hopefully I can hit my goal of $100 by summer.

Take Care,

Michael

Monday, February 26, 2007

Ebay Sales Slow - Money Buckets

So far no bids on any of my 5 ebay auction listings. I will check in on them later this week. This may turn into a loss for the $10 money bucket.

I started to think up other ideas for investing $10. Tonight I have a meeting and some reading to do. I hope to finish my $10 money bucket research by the end of the week. By then I will know what my advertising income is as well.

An update on Lancaster Theological Seminary. I am going to audit a class in the fall semister. After that class I will decide if I want to apply for the Masters program or a Certificate program. Most likely I will stick with auditing classes, much cheaper.

Take Care,

Michael

Sunday, February 25, 2007

Ebay Listings And Other Stuff

I just finished listing 5 of the record albums I got at auction yesterday. To save money I listed them each for .99 and did not use the gallery option.

I need to sell 4 of the 5 at .99 or sell one of them for $4 to break even. The 5 records I listed are only a small portion of what was in the box. There are many more I can list in the future.

The other day I mentioned using a free classified service like Craigslist. My mistake was to list it as .com instead of .org, but the .com does re-direct to the .org URL.

My test witht he new MSN classified service was very messy. I listed an item wanted classified and ended up getting tons of spam email messages. For now I suggest that you stay away from the MSN classified service.

I stopped at Borders today and picked up "The Starbucks Experience". As you can tell I like to read.

Take Care,

Michael

Money Making Notebook Of Goodness

I almost forgot that yesterday was the 24th. Before I shut my computer off last night I went over to Audible and downloaded my 2 audiobooks for this month.

In January of 2006 I started a pocket sized Moleskine (r) notebook to keep notes on all the books, ebooks, magazines and audiobooks that I inhale. I think this notebook has 10-15 pages left for notes. I write real small, 2 lines of text on each line.

I use this money making notebook of goodness when I am brainstorming ideas to make money or market a product. Instead of having to go thru 50+ sources I can skim the notebook for my highlights and then go back to the source if more detail is needed.

Today after Church I plan on working on my ebay auction listings and ebay research. If I have time I will also start brainstorming how to invest $10.

Take Care,

Michael

Saturday, February 24, 2007

How Risky Is Your Investment?

I am back from the auction. Total spend was $2.12 for 2 boxes of records.

The stuff I wanted went above $10 every time. For this project that would have been too much of a risk. With the boxes of records I should be able to make a small profit.

I won't know what I have until I research the box against Ebay sales.

Over the next few days I will do research and get some listings ready. Based on the margin I will either list now or wait until they have a listing day special.

While at the auction I made good use of my time. I am almost finished reading "Confessions Of A Serial Entrepreneur" by Stuart Skorman.

Since I got this book for free I am going to pass it on. It won't be for sale and it won't be part of this project. If you are interested in having this book when I am done, please email me at meekel[at]yahoo[dot]com with your mailing address and a short paragraph about why I should send it to you. On March 1st I will pick the best answer and mail them the book, for free.

Take Care,

Michael

Early Morning Auction Day

As you can tell it is early. The auction today starts at 8:30. It is a 1/2 hour away and I need to get there at least 20 minutes early to get my number and look at the stuff.

What they had listed in the paper is not all they have. So I need to tkae some time and look over what they are selling.

Something to keep in mind when buying at auction is "Buyers Premium". That is a % charged by the auction house. For example today there is no buyers premium in the morning, but after lunch they are going to sell coins and charge a 10% buyers premium. All items will have sales tax.

My plan for the day is to invest no more then $12 of my current balance. Most purchases will be $2 or $3.

This money making blog is not going to turn into an auction blog. This just happens to be what I am working on right now.

Take Care,

Michael

Friday, February 23, 2007

Using Free Services To Make Money

I don't know why I didn't post this earlier. Using free online services is a great way to make money.

This blog is on blogger, because it is free. If I had a hosted web site it would cost me about $50 per year.

Today I was listening to a podcast and they mentioned a free website where you can list stuff for sale. It isn't as big as Craigslist, but still worth a try.

You can also use Craigslist or a site like it to find stuff cheap that you can re-sell elsewhere.

Speaking of free services. I use AuctionZip to find auction in my area. They don't have a full listing, but there is enough there to give me choices.

Take Care,

Michael

Ebay To Make Money Or As A Hobby

I think of selling stuff on Ebay as a hobby.  Make a little money and have some fun buying and selling stuff.

But for this project I need to think of Ebay more as a business and focus on longer term goals. Tomorrow I will be going to an auction to get items to sell on Ebay.

At this point I am not going to set-up a store, but it is something to consider for long term goals. Ebay will not be 100% of my income for this project.  As always I plan on using multiple streams of income.

With the money buckets, most of my ebay investments should be below $10.  I like to keep my risk low. For tomorrow I have a little over $17, but I will need to keep some back to pay the listing fees. I expect to spend less then $10 total and each item will stand on its own as far as money buckets go.

Take Care,
Michael

Thursday, February 22, 2007

What Is Your Time Worth

I knew if I kept the tv on long enough I would see that commercial again.

Here is the link to What Is Your Time Worth on Fine Living TV. The commercial looks better then the web page.

I hope to record it and will let you know if I think it is worth your time.

Many Thanks to all those who post comments on this blog. And double thanks to all those who link to this blog. I do appreciate the community that is developing here.

Take Care,

Michael

Money Making Momemtum

Now that I have a build up of some cash in the project it is time to plan the next investment.

This Saturday I am going to spend some time at an auction. I printed out a list of some of the stuff they are selling. Tonight I will do some ebay research so that I pick out items with the best margin.

I started reading "Confessions Of A Serial Entrepreneur" by Stuart Skorman. That is the book that I got for free in the mail. I decided not to sell the book or use it as part of this project. I am trying to keep this project to a level where others can do as I do.

Since getting a free book in the mail is not a common thing, then I don't want to count it for the project. As for buying something at auction and selling it on ebay I will count that as part of the project. In the past I made over $100 from a $3 investment. Even though there is no guarantee that anyone and everyone can do this. The opportuinty to find high margin items can be found anywhere that there are regular auctions, though it might take some time.

I didn't get to finish my ebay research from the other day so if I have time I will try to do that tonight too.

Now it is time to get my research started. Many thanks for visiting today!

Take Care,

Michael

Wednesday, February 21, 2007

Money Buckets Update

As mentioned earlier today. The Ebay auction ended and Buy The Police Concert Tickets was the winner.

After the listing, final value and PayPal fees my profit from this transaction is $4.30 as shown on the money buckets chart. The 45 cent investment generated almost 1000% return. This guy got a great deal, because the text link broker will be charging double or tripple that for the 4 text links I have listed with them. The ebay winner text link will be the only link above the sponsors section other then the Technorati link.

Even though the final price did not go above my bonus level I will be doing a partial blog post about his site. I feel it is always best to overdeliver.

The money balance for this project is now listed in the right column. This will make it easier for visitors to see my project status.

Take Care,

Michael

Ebay Winner And Money Buckets

This has to be quick. I would like to thank the winner of my first link auction. Buy The Police Concert Tickets . Please give him a visit for your concert ticket needs, it looks like a great site.

Many thanks also to those who bid, but did not win.

I'm away from my office right now, so I will have to update the money buckets tonight.

Take Care,

Michael

Tuesday, February 20, 2007

Today Is Money Day

I love the middle of the month. Today I got 2 checks in the mail for my online efforts. Both checks were for my other sites that are not part of the OPP project.

Some networks pay by check and others will pay with direct deposit. I drive by the bank every day, so it doesn't really matter to me.

In addition to the checks I also got a free book in the mail. Not an ebook, but a real book. "Confessions Of A Serial Entrepreneur" by Stuart Skorman. I love free stuff.

There are only a few hours left for my Ebay Auction. The current bid is crazy low. Minimum amount for the link broker is $10. The ebay auction is currently under $1. Get on this opportunity before it is gone.

I have more research to do to get ready for the next ebay listing discount day.

Take Care,

Michael

Monday, February 19, 2007

Ebay Is Not Always The Right Tool

Last week I listed a text link up for auction on Ebay. So far the price is way below what the link is worth. Click Here to see the auction.

Today I found a text link broker that told me the value of a link in that spot is over $30. The current price on ebay is 1/40th that price.

So for my next test I will try out the text link broker service for another spot and see how well it works.

Ebay is great for buying and selling stuff. But some stuff just doesn't sell well on ebay.

Take Care,

Michael

Sunday, February 18, 2007

Future Ebay Listings And Other Stuff

Not much to say on making money today. Other then I saw a preview for a new TV show where they discuss the value of time and money. Like I was talking about the other day. I don't know what network the commercial was on, so hopefully I see it again.

Tonight is my favorite show, Amazing Race. I wouldn't like the pressure of the race, but would love to see all the cool places they visit. After Amazing Race is my second favorite show The Apprentice. There is always something to learn from that show. Either in making money or in marketing.

I hope to spend some time today working on ideas for the next Ebay listing discount day. That way I will have more time to research and plan. I have at least 1 idea ready to research. That reminds me I need to put up a link to my research paper. I have to finish that page design too. So much to do.

Take Care,

Michael

P.S. Don't forget to check out my Ebay Auction.

Saturday, February 17, 2007

Managing Time And Money

I am using the buckets mentioned previously for tracking my income. But one thing I didn't mention is time.

The time required to make money must also be considered. Since this will amke the money buckets hard to follow I will just talk about time in the blog post where I update the money buckets.

I am all for passive income and earning money from work that was done in the past. The other day I sold an ebook that I wrote. Thing is I haven't promoted this ebook in over a year, could even be 2 years.

Today was a long day. The seminary was nice and I was there from 8:45-4. We had a sample class during that time and it was great.

Education is something I am very big on and highly reccommend. I try to learn new things either with books, testing or formal education as much as I can.

Take Care,

Michael

P.S. Don't forget about my Ebay Auction

Friday, February 16, 2007

The Value Of A One Way Link

I don't have much time for a post tonight. Tomorrow I will be visiting Lancaster Theological Seminary. I'm bouncing between a Masters in Divinity or testing the waters with a certificate program. So I want to turn in early to be ready for tomorrow.

On to the topic.

What is the value of a one way text link?

There are many ways to look at value in this context. First since the link is one way you could get a PR boost from Google. But the true value comes from targeted traffic.

If the site linking to you has visitors that you want on your site then the value increases.

For example the current winning bidder of my Text Link on the top right is going to get a huge bargain if there are no other bidders. At 77 cents for 31 days that comes to only a little over 2 cents a day. Figuring between 2 and 7 visitors from that link each day, the relative CPC price would be well under 1 cent. And this is for targeted traffic. Even at $3 the relative CPC would be below 5 cents.

Now lets take this to the bonus level. If the bonus level is reached the winning bidder gets a blog post about them. The value in the BLOG post is that your link in that post will remain live for as long as this BLOG is around. I'm guessing it is going to take me 3 or 4 years to reach my goal, so that is a huge bargain.

Take Care,

Michael

Thursday, February 15, 2007

Community Of Money Makers

Today I hit 100 members on my MyBlogLog Penny Project community. Many thanks to all those who joined.

I enjoy working on this project and hope to continue to grow and learn in this community. Of all the websites and BLOGs that I own this BLOG is my favorite.

Your comments and suggestions are always welcome.

I have my ebay research page completed and will do a little more testing before I give you the link. I'm also going to spend some thinking time working on ideas to get ready for the next time that Ebay has a discounted listing day.

Take Care,

Michael

P.S. Don't forget to check out my ebay auction. Click on the "Your Link Here" link to the right.

Use Ebay For Money Buckets


After shoveling and chopping up the ice yesterday I ended up with a migrane and didn't list a second item on Ebay. But I will set aside some time today to think about what I can sell the next time they have a discount listing day.

Here is an updated photo of the money buckets. This includes the 45 cent listing fee from yesterday in the $1 bucket. After the auction ends I will update the chart again.

Don't forget about my ebay auction listing. Just click on the "Your Link Here" link to the right.

Take Care,

Michael

Wednesday, February 14, 2007

First Money Bucket - More To Come

Guess what today is? Other then Valentines Day, it is 50% listing fee day at Ebay. How cool is that.

I did some research and thought about what I wanted to list for this project. At first I was thinking along the one page idea. That way I could put up the listing, then work on the page during the week before the auction ends. Below is the query that I was working on for closed auctions.

cheat -honda -replay -shark -final -weight -diet -hard -roulette -lock -goth -saints -birch -alpine -golf --xploder -cherry -fruit -poker -genie -gameshark -memory -tabs -dog -website -photoshop -ps2 -gameboy -xbox -nikon -canon -nintendo -wii -sims -monster -psp -phone -playstation -dvd -plug

Notice all the negative qualifiers? That is a big key when doing research. Weeding out the stuff you don't want from the stuff you do want.

As it turns out I found something a little easier. You know me, I look for the way that involves little work.

The "Your Link Here" link to the right is my first investment of money in this project. I took advantage of the 50% listing fee day. Even with the gallery photo the listing only cost me $0.45 today. I could have done the listing without the photo for only 10 cents. Way cool, but I think the photo listings get more attention.

Since I only invested 45 cents I plan on putting up another listing today for the same amount or without the photo. I don't know what I am going to list, but it will be a digital product so that my total cost of both listings is below $1. This will go in the $1 bucket on my next Money Buckets Update.

Something that I will also need to think about. If both listings hit at the minimum bid, then the fees could produce a negative transaction. I want to have 2 listings to reduce my risk.

Take Care,

Michael

More Time For Money Making Research

School is closed today and work is closed for at least a 1/2 day. So this will give me a little more time for money buckets research.

Yesterday I started working with ebay research. Today I will continue down that path.

Thinking about a $1 investment. The listing fee for and Ebay item below .99 is .20 with no extra features. With the gallery option a .99 listing would be .55 leaving only ,45 to purchase an item.

So lets look at a simple example at this low level. Starting with a $1 investment, purchase something for .50 and list it on ebay without any options. Total investment would be 70 cents.

If this item sells for $5 + $1.50 S&H the final value fee would be .27 and PayPal fee would be 50 cents. Lets say actual shipping is $1.11. The profit in this fictional example would be $3.92, not bad. Keep in mind this example sells for $5, not all auctions have buyers and the amount will vary. This is just an example to look at the fees involved.

Now I am off to think about items that I can buy for 50 cents that might sell for $5. Obviously not an easy task, but I want to start with the $1 bucket before going to the $10 money buckets.

Take Care,

Michael

Tuesday, February 13, 2007

Multiple Streams Of Income

Tonight I did some Ebay research. I only had 3 hours so that was just enough time for part of one category. I did find some interesting listings.

Now it is time for thought. Once I spend some time in thught I will test my new auction profits page and pick something to sell on ebay.

Before you ask, yes I will release my auction profits page for free after I am done testing it. The site that it will go on is not done yet, but that isn't the important part.

As mentioned before I am not going to focus on just one form of income. After 3 years of selling stuff online there is one thing that I learned quickly. If something works, eventually it will break.

Michael

A Bucket Of Money For Ebay

Currently I am trying to grow this project with $0 investment options.

To speed things up and help me get to the $100 level I am going to start investing a little of the money I made so far.

It will probably take some time but I am going to start doing some research on Ebay. I also sketched out an ebay research sheet. When it is done I will put it on ine of my sites and link to it for you.

School let out early today and with what they are calling for it looks like there will be no school tomorrow. I like to play in the snow, but I don't like driving in it.

Take Care,

Michael

Monday, February 12, 2007

Buckets Of Money



This is a screenshot of a table that I made to represent buckets. There is a row for each level of investment. And a column for each form of investment.

So I put the .84 that I found in the found column under the $0 investment row. My advertising income came from free BLOGs so that is also a $0 investment. The only product I sold was a coupon I picked up for a free coffee, It didn't cost me anything so that is also a $0 investment.

All totals are cumulative. As this project grows I expect to add more columns and rows.

What are your thoughts on this design?

Michael

Cell Phone Email Posting

I noticed that my earlier posting test worked, but the formatting is off. I will have to test this again and add in some HTML tags.

Since I can't send an email free from my cell phone I am not going to do that test. It wouldn't be fair to the project.

When I am away of my trip all updates will be done with a laptop on a free internet connection or at the library.

Later tonight is the money buckets update.

Michael

Money Found But Not Picked Up

Making money is not always about squeezing out the last cent. Today I found
a penny, but decided not to pick it up. Who knows it might be used for
someone to start their own project.

This is a remote post test. In April I will be going back down to Luling,
LA to do more Hurricane mission work. Instead of letting the BLOG sit for 9
days or looking for a guest poster I am going to try to do remote posts.
Later this week I am going to go one step further and see if I can post from
my cell phone.

I have version one of the money buckets completed. Tonight I will do a post
and put up a permanent link.

Take Care,

Michael

Sunday, February 11, 2007

Making Money - The Buckets Idea

I hope to have a post about the money buckets Monday or Tuesday.

Today I have to finish up a t-shirt design for our church. Then I will work on the design for the buckets and how I want to do the link.

I organized my Ebay spot and am considering doing some more things on Ebay. The classifieds test I did on Ebay wasn't the best. But I really think the problem was position. When you put up a 30 day listing, most people won't see it until the last 5 days.

There are other ways to generate leads, so I will skip the classified auction format and just use the regular format.

Take Care,

Michael

Saturday, February 10, 2007

Money From Photography

Tonight I went to a father/daughter dance at the local high school.

There was about 100 dads and their daughters at this dance. Cost was $6 and well worth it. There was lots of food and drinks. We had a blast dancing.

They had a photography section set-up with a digital camera and a photo printer. We waited too long to get our picture taken. The printer was slow and they couldn't get our picture printed before we left. But they will have it at the school on Monday.

With a second printer or a faster printer, this would have been an awesome set-up. Cost per photo is less then $.50 and they were charging $2 or $5 for a pic and 2 wallets. With about 100 couples at 80% getting a photo and 30% of those getting wallets too, that would be $260 profit. Granted this does not include the cost of the printer or camera, just the consumables.

Not bad for 2 hours work if you ask me. This is something I might have to look into for a future project when I have more money in the project to play with. Heck, I could even just put together a set-up and rent it out.

Take Care,

Michael

Friday, February 09, 2007

Slow Internet Connection - Lost Money - Thank You

Tonight when I got on the internet everything was going real slow. At first I thought I had to clear out my cached pages and stuff like that.

But when that didn't work I decided to kick off SpyBot.

SpyBot found some stuff and I had to manually remove a program. It seems like everything is running fine again.

Not being able to connect to the internet can result in lost money. I did find a backup at the local high school. If my PC were to crash or my internet connection die on me I can run up to the high school on Tuesdays or Thursdays to use the computer lab. Interesting find, they have all kinds of stuff and education programs free to the community.

Many thanks to all the people who are leaving such nice comments and suggestions. It feels nice to be loved.

I'm going to run with the buckets thing. What I am thinking is a starter bucket, $1 buckets, $10 buckets and $100 buckets as needed.

The starter bucket is for money made with no investment. The $1 buckets are for money made using $1 as an investment. Each method or system will go in its own bucket. You get the idea on how the $10 & $100 buckets will work too.

This weekend or Monday I will try to do an update on the buckets with my current figures. I will also have a set of buckets for ideas.

Take Care,

Michael

Thursday, February 08, 2007

Making Money - Its All about The Margin

Today I was thinking of some money making ideas.

Most were of the online nature, but a few were offline ideas.

The one point that I try to focus on is the margin. And how much time to create a profit.

This works for online or offline ideas.

If there is a merchant on one of the ad networks that gives you 10% and the average order is $30, you will only make $3. So how much time, effort and money was spent to create that $3.

I have a few sites and from experience I know it takes time to grow. Each of my sites started small. A first the workload is on the heavy side, then it slows down after the system is in place. So with a model like this it is hard to compute the margin. In the early days that $3 income may have cost $2.99 in expences and an hour of time. But today that $3 income costs much less and takes almost no time.

As I said before ... Think, Think, Think

Michael

Wednesday, February 07, 2007

The Temptation To Spend

I am getting some positive feedback from my Buckets of Money post. I can't take credit for the term, it was used before. Buckets seemed like a good way to help visualize how this will work.

Today I want to talk about temptation. No not that kind of temptation. I'm talking about the temptation to spend.

Right now I want to build up so that I can start my $100 buckets. But I need to focus on the next level, $20.

The good part about having a larger goal, that this smaller goal is a part of is that there will be less temptation to spend the money in this project.

It is so easy to spend money and marketers get smarter at convincing us that we should have what we want.

Focus on the little goal, but also have a bigger goal to help avoid the temptation to spend.

Michael

Tuesday, February 06, 2007

Buckets Of Money

I got this idea yesterday.

When I get to the $100 level I am going to invest that $100 in some way. That will be bucket #1. Then each time I make $100 (not from bucket #1) I will start a new bucket using a different money making strategy.

From the $100 buckets I will try to grow them to $1000. This is a little beyond the penny doubler concept, but will make things easier to track and talk about.

The penny doubler concept is to double money not multiply it by 10 at each level. So I will focus on doubling, just with multiple transactions that fit the model.

Today was a research and social networking day. I started to promote the new BLOG in my network on forums.

Income has grown each month and I hope that by adding more BLOGs to my network that I can reach $100 by summer.

Take Care,

Michael

Monday, February 05, 2007

Don't Forget Valentines Day

Valentines Day is less then 10 days away.

Since I was home working on some projects today I decided to do a little online shopping. The weather outside is almost zero. Keeping the house at 65, it feels cold inside too. Instead of shopping at the mall I decided to do some shopping online.



I don't know if you can tell or not, but I switched to the new version of Blogger. They fixed whatever the problem was from the last time I tried. This time it worked.

I have some great ideas for this project, can't wait.

Michael

Money Making With A Sheet Of Paper

-- Stopped --

Edited 2.12.2007

I am pulling the one piece of paper product. 7 days have passed.

Take Care,

Michael

Saturday, February 03, 2007

Lottery Tickets & 100th Post

Today I purchased $5 worth of lottery tickets. Don't worry this is not for the project. I mentioned in the past about not playing the lottery as part of the penny project.

Of the 4 tickets (one was a $2 ticket) 2 were loosers and 2 were winners. One of the winners was a free ticket, but the other winner was $10.

So I made $5, but that doesn't happen often. This won't count in the penny project.

This posts is my 100th post on this BLOG. Way cool. I am having a blast and can't wait to break the $100 level.

My newest BLOG in the OPP network is going great. I didn't start heavy (free) promotions yet. I didn't even create the feedburner RSS feed for it. After I get 3 more posts then I will start to promote it.

By the end of the month I will add another BLOG to the OPP network.

Outside of the OPP network, on my regular sites I registered 3 domains last week and put them on my virtual server. Monday and Tuesday I will be working on building them up and getting ready for content.

Don't forget Monday is the big sale. I might lower the price and offer more then one, but I don't know yet.

Would you rather pay $5 for something that 50 other people will also get, or pay $60 for a one of a kind?

Take Care,

Michael

Friday, February 02, 2007

Making Money Online - Is It For Me?

This is a popular topic. Making Money Online is not easy and it is not for everyone.

I was reading in a forum today about a problem with Internet Explorer that is causing affiliates to loose commissions. Turns out my affiliate sales are going down with that same network, and this could be why.

So all the time I put in to get my PPC ad set-up & tested and my landing page created & tested is down the drain. That is unless they fix the network fixes the problem.

That is one reason that I employ multiple streams of income. When sales drop below advertising expenses I just replace the offer with an offer from another network.

With the penny project I only promoted 1 affiliate product from that network so far.

As mentioned yesterday I will be creating one or two new BLOGs to add to the OPP network of sites.

Is making money online for you? Well, only you can answer that question. When people ask me for my thoughts I tell them to start with Ebay. If they can figure out how to make a profit on Ebay, then I can tell them how to put a system in place for making money online.

Take Care,

Michael

Thursday, February 01, 2007

Earning Money and Finding Money

Today I found $.50 left in a vending machine. This was my biggest find so far.

Last month was good for advertising income. I made $5.45 last month to push my project to the next level.

Right now I am in the $10-$20 level. With my current balance of $13.23 I only need $6.77 to get to the next level.

Current Step: 12
Current Balance: $13.23
Need to get to next level: $6.77

I am considering starting one or two new BLOGs this month. There will be plents of ideas to discuss as well.

Don't forget to stop back monday morning and consider purchasing my Idea Mindmap Sheet.

Michael