This is a transcript of my newsletter from 16th November.
Affiliate marketing is a well-established, huge industry, and it can be lucrative for both website owners and product manufacturers.
If you’re a fan of a particular product or service, and you have any form of presence online (blog/Facebook/Instagram/website), you can turn your appreciation into a revenue stream.
It’s a simple but potentially lucrative business model – but, as with any business, it does require work!
This week I’ve linked to a detailed article on affiliate marketing, another look at social media marketing (it really is a highly cost-effective channel when done right), negotiating skills and some ways to manage your books.
Last week I also released a free 15-page tutorial on setting up a solo business from scratch. If you’re interested you can download it by clicking the button below:
Affiliate marketing – how to make money recommending someone else’s product
As I said at the top, affiliate marketing can be very lucrative for both the product manufacturer and anyone with a website, blog or social media page.
This article describes how it works, what you need to do to get started and how to succeed.
More on social media marketing
I know I linked to something on social media marketing a couple of weeks ago, but I’ve linked to another one this week because it can be so effective.
If you can get it right, not only is it highly cost-effective, but it enables you to build a relationship with your customers which, in turn, drives more revenue.
And, because it’s so cost-effective, it’s a great channel for an affiliate marketing business.
A heads-up: the audio track on the video at the top of the article is not good! But the article itself is extensive and detailed.
10 great negotiating tips for solopreneurs
I was always a dreadful negotiator. Looking back, it was usually because I under-valued what I could offer.
In this article, Chad Fullerton sets out 10 things to consider before you enter any negotiation.
Simple, succinct tips that I could have done with years ago!
6 good ways for solopreneurs to manage their books
Once your business is registered, you’re going to have to report to your tax authorities each year, but if you get everything set up correctly at the outset, this won’t be much of a hassle.
After the nightmare I went through at the end of my first year, I got some advice from my accountant and straightened out my process. Now, my year-end books take me no more than 4 hours to complete and submit to my accountant.
I do recommend getting this aspect of your business properly set up from the outset!
I really enjoyed the Band on the Run album – it was considered to be one of Paul McCartney’s better solo albums. A piece of useless trivia: large parts of it were recorded in Lagos, Nigeria.
OK, have a great week and please forward this to anyone you think may find it useful!
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Owner – WealthyDragon