Are there any legal loopholes to make money? After a number of dead end jobs I asked this question. I knew there had to be a way to earn money legally from the internet, without having to trade time for money continuously in low paid jobs.
I tried a number of online earning strategies including:
- eBay – buying and selling
- Forex marketing
- Selling my own digital products
- Affiliate marketing
After a lot of disappointment with working various strategies and taking a number of online courses, I eventually found a business model that worked.
Legal Loopholes To Make Money – Affiliate Marketing
Out of the many “legal loopholes to make money” which I found working online, affiliate marketing was the best. The more money you have, the more opportunities you have. Forex marketing is a challenge when you have nothing! There’s a saying in trading “scared money is lost money”.
This means if you’re trading with money you can’t afford to lose, you’re much more likely to lose it because you’re emotionally attached to it and nervous about losing it. This affects your trading decisions and you can no longer make good decisions. This was definitely the case for me too. So I switched gears and decided to opt out of Forex trading and look for something else.
After trying a number of strategies and attempting to sell my own ebooks online, I found affiliate marketing. With affiliate marketing you can promote and sell other people’s products over the internet. You don’t need to own any products or even handle products or customers personally. You’re simply a third party referrer of customers to products online. Of the many “legal loopholes to make money” I’d found, this was the one I stuck with.
Affiliate Marketing – Business Models
But before you rush off and learn affiliate marketing, a word of caution. There’s many different affiliate marketing products and services which you can choose from. I made plenty of mistakes in affiliate marketing before finding a strategy which worked. Getting the right education and help is definitely up there with the top priorities I would suggest to people now. I went it alone for years and got lost down various rabbit holes. Here’s a few simple mistakes to avoid:
- Shiny object syndrome – jumping from course to course looking for the “easiest” solution with the biggest promises
- Being a busy fool – Working hard on the wrong activities which don’t move your business forwards or choosing your favourite activities
- Getting caught in learning mode – spending all your time learning and no taking appropriate action steps to move your business forwards
- Overwhelm – information overload can easily put you off and overwhelm you. As a result productivity ceases and procrastination sets in.
It’s also worth noting the rates of commissions paid by the various affiliate programs. Some products, typically physical products pay far less than digital products. So the same amount of work can amount to far more reward depending on the products you choose. Digital products for example pay out 40%+ to affiliates. Whereas physical products tend to pay out far less: 1-11% typically.
Have a look at the image below which shows rates from Amazon’s partner program
How Is Affiliate Marketing A Legal Loophole?
Affiliate marketing is a legal loophole for anyone wanting to learn how not to trade time for money. For many, making money is an arduous task which takes more than it gives. In a typical job, when you stop working, you stop getting paid. But affiliate marketing is different because you can benefit from the use of automation and a global audience to generate an income.
You don’t need your own products or even need to speak to customers. The main thing you do need to do is learn the strategies for making sales online. At first affiliate marketing can seem quite tough. But if you stick with it, you’ll be able to automate the sales you can generate and create more time and financial freedom, without working any harder for it.
It does take time and effort to earn from affiliate marketing, but eventually it can completely replace your existing income.
You can access a free webinar to learn more by clicking the banner below.
