Now this is something I can relate to all to well, making extra money in college isn’t easy, but it’s not impossible.
Either you’re unhappy with where you’re currently working or you’re tired of eating off the dollar menu at McDonald’s, whatever it is an extra source of income couldn’t hurt.
I could just list a bunch of “jobs in your area” or “great jobs for students” or something along those lines, but I know that probably isn’t what you’re looking for.
- You probably hardly have enough time to have a social life with school and the job you already have, much less a second one.
- Your looking online for a reason, you’ve probably heard of people making money online and now you’re curious.
Well you haven’t heard wrong, there are PLENTY of people making money online today, some even making it a full time job, so it’s not uncommon.
But with this being said, we’re going to have to evaluate your options. What is not only something that would be a good opportunity, but can also fit into the busy schedule of a college student.
Evaluating Your Options
There are TONS of options out there for which direction you could go in, some great, some not so great, some paying thousands, and some pennies.
There’s PTC programs, physical products business, freelance writing, the list goes on and on, but there are some things to take into consideration as to why some options might be better than others.
Time & Money, essentially the two determining factors as to why and how something is or isn’t going to work out.
Time clearly plays a role in anything but we want to get some reasonable dollars worth our time, in other words you don’t want to be putting hours of work in and getting pennies in return, there would be no point!
Then money is limited for most so spending thousands on a costly start up or purchasing inventory would be out of the question also.
So what do I recommend for a student looking to make another income with limited time?
Affiliate marketing! I’m trying not to sound so infomercial, but it really is the best route for a student with the current situation.
- It’s not impossible to learn
- Doesn’t cost anything to start up
- Would take a fraction of the time your current job takes up out of your day
- and most importantly, you can make $$$
So what is it and how does it work? Let me give you a little run down on how it all works without trying to bore you to death.
Affiliate Marketing 101 | How It Works
To start it off lets answer the initial question, what is affiliate marketing?
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
In lament terms you sell (“market”) other people’s products by referring visitors to their site or page, the visitor makes a purchase and the seller gives you a percentage of the sale for getting them the customer, simple!
You refer reader to a sellers site or page ->Reader makes a purchase->You get paid!
You don’t have to handle customer service, product listings, shipping, none of that! It’s as simple as it gets in the business world.
Affiliate Marketing at it’s core is really broken down into 4 steps.
- Choosing an interest, this could be a hobby, past time, something that you enjoy doing, anything really.
- Building a website, don’t worry it’s not as hard as it seems! I got you covered:)
- Getting rankings and visitors, essentially the meat ($$$) of the whole process, these are the people you’ll be referring to the seller.
- Earn revenue, everyone’s favorite part, getting paid!
Thousands of people everyday do this as their full time jobs, think about it! How do you think all those web pages with all that information got there in their first place when you look things up?
Someone had to right it, and they’re certainly not doing it for free, they’re making income from these sites, every time you click an ad, link, buy a product that was linked from their page, they’re making money!
Now that you got the process down, lets talk opportunities.
What kind of opportunities are there?
The greatest thing I like about online business is the opportunities, I have markets I can tap into and potential customers I can reach that I would have never been able to reach with a physical business.
That and it’s growing, so fast in fact that we are projected to have over 3.8 billion internet users in 2020, that’s almost double what it is now! That’s a HUGE potential customer base to have for a business!
Now if you find a business model that is based on that kind of growth you can give me a call and I’ll be all ears!
Like I said earlier your business can be anything you want, maybe it’s a hobby you enjoy doing, or something that inspires you, you’re picking the desired theme of what you’re website is going to be about and what kind of products you would be promoting.
Here’s a few ideas to help get your creative juices flowing
As you can see it can really be just about anything from clothing, to electronics, to car parts, whatever gets those juices flowing can most likely be turned into a profitable business.
Now lets get into the fun part of how we are going to be making money, promoting products!
Promoting Products | How It Works
Of course to make money you’re going to need some type of product or service to promote.
You could have the best looking website in the world but people aren’t just going to give their money away, they’re going to want something in exchange.
Where do you come in? Have you ever wanted to buy a product or service online but was hesitant because you didn’t know enough information about the product?
You probably went it to Google, Yahoo, whatever it was, and searched (product name) review, or (product name) specifications, details, something along that line to find someone else’s preference on this product.
You maybe even made a purchase on that said product through a link the site provided you, there’s an average of 7,000,000 people searching for information online every day, that’s where you come in.
You create the information they’re looking for by creating reviews, giving your opinion, writing articles, giving these people quality content and in return they use your links to purchase the products they’re looking for, simple!
So where and how do you find these programs to promote these products? They’re called affiliate programs and they’re going to be the lifeline of your business.
Affiliate programs & Earning commissions
To answer the question some of you might have, “What is an affiliate program?” lets just get that right out of the way from the very beginning.
An automated marketing program where a Web advertiser or merchant recruits webmasters to place the merchant’s banner ads or buttons on their own Web site.
They’re essentially programs put in place by sellers that offer affiliates like ourselves the ability to promote their products in return for a percentage of the sale purchase.
Like us getting our slice of the pie since we got the buyer the sale, they get a sale and we get paid, it’s a win win situation!
There is probably an affiliate program or link to sell for almost any product out there, all you have to do is just type in (your interest/product) + affiliate program, and you’ll pull up thousands of results.
Here’s a little example of the affiliate programs out there for those golf lovers out there, that’s a few of over 5,000,000 results! You can be occupied for years just by looking at golf programs alone!
So clearly no direction is to small, and no market to narrow, you just have to know where to look.
Personally a personal favorite of mine is Amazon’s affiliate program Amazon Associates.
Everyone’s heard of Amazon and they have an absolute HUGE selection of products to choose from, if it’s out there Amazon most likely sells it.
Once you get signed up for your program and you’re getting along your way you’re going to start hearing the term commission a lot.
Commissions is just the term used for what your slice of the pie is going to be, it’s the seller way of saying thank you for getting them the sale, because without you they wouldn’t’ have gotten it!
Commissions can range anywhere from 1% all the way up to 99% (wouldn’t make any sense, but hey if they do, more power to us) it’s all depending on the seller and what program you join.
So how do you get started doing this?
Want to start making extra money in college?
If you’re serious about creating an online income that can put you through college or maybe one day be your full time career then you’ll have to get serious about your training.
Then you should check out where me and thousands of other successful affiliate marketers got our starts, Wealthy Affiliate!
Find all the training you’ll need from website creation to creating quality content that converts to sales, and over 500 training modules and growing!
Not only will you get access to top level training but you’ll also get access to an amazing community of successful online entrepreneurs and myself, yep, you can find me daily inside Wealthy Affiliate helping newbies start their first online businesses!
Wealthy Affiliate took me from a broke college student trying to make a little extra cash online to a full time business owner, and they could do the same for you!
If you’re curious and want to know more, feel free to click the link above and the banner below to give it a quick look and see if it’s right for you.
If you have any questions you need answering or just want to chat, feel free to drop a comment below and I’ll get back to you as soon as I can!
P.S. We have a serious Taco Bell addiction and the affiliate links on our site lets us order off the dollar menu. Thanks for your support!