Do Not Be Fooled By Incorporation Fees

If you are planning to form a corporation, you have many options as to where to form. You may know that Delaware is a popular state in which to incorporate. Put basically, Delaware laws are very corporate friendly. I will get into the specifics in another post. Back to the point, many states advertise that you should incorporate in their state because the fees are less than other states.

Although this may be true, you have to consider where you are going to be doing most of your business. For example, Nevada demands a relatively inexpensive fee to incorporate. However, if you are doing all of your business in California, and merely incorporated in Nevada to save on the incorporation fees, consider this; in order to do business in a state other than the state in which you incorporated, you have to file for a foreign corporation certificate. This basically means that you incorporated in another state and want to do business in the present state.

What is the big deal with filing for a foreign corporation certificate? A foreign corporation certificate costs money, and has a yearly maintenance fee. So before you incorporate in a state to “save money” think about how much the foreign corporation fee is and do some serious calculations to determine whether you are really saving any money!

Another popular advertisement by states is the tax advantage pitch. Some states have a smaller tax rate than others. However, money earned in one state is taxed in that state. Therefore, seriously weigh the advantages of forming out of state against the disadvantages, and do not be duped by “money saving” sales pitches that may end up costing you in the long run.

There is a popular saying among entrepreneurs, “do not step over dollars to pick up dimes.” I implore you to avoid doing the same thing!

Want More Money from Adsense?

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myLot

Have you checked out myLot yet? myLot is an exploding new website community. Think Google meets Myspace meets Technorati and you will have an idea what myLot is all about. myLot stated, “We want our users to help our website explode, and to reward you we will pay you every time you use myLot! We believe users are the most valuable asset to the longevity of any website so why only provide them with a service, why not reward them financially?”

Sign-up is completely free, it is crazy addicting, and tons of fun! Best of all, myLot allows you to “claim your blog.” Therefore, you can market your blog to all the people on myLot. Also, you MAKE MONEY for doing the things you do everyday on Google and Myspace. Posting comments, posting pictures, participating in discussions, etc., all EARN YOU MONEY!

Another great aspect about myLot is that only 92,000 members exist! Can you imagine if this site grew to the size of Myspace?! Myspace has about 180 million! Can you know see the earning potential?

Check it out today and you will see why myLot is the next BIG thing!

Multiple Streams of Income: The Internet Part 9

Link exchange websites can help you get links. The more links you have on your website, the higher your PageRank may be. As I have stated before, a higher PageRank means your website shows up higher on search engine results.

There are three ways to acquire links: (1) you can pay for them; (2) you can join a free link exchange; and/or (3) you can manually add links.

Paying for links has its ups and downs. Usually, when you buy links you receive a massive amount at one time. What basically happens is you buy a webpage/website that has a couple thousand backlinks linked to it. The problem with this method, other than it costing a lot of money, is that you never really know what kind of links you are getting.

Joining a free link exchange also has positives and negatives. To find a free link exchange service, search the phrase “free link exchange” in your favorite search engine. Once you have found a site, you have to avoid many pitfalls in order to successfully acquire quality links. When you join a free link exchange, you usually have to submit your website/blog for approval. Once approved, you can begin exchanging links with other websites. The problem with free link exchanges is that the link exchanges are reciprocal . In other words, for you to place your link on another’s webpage/blog, you have to place their link on your webpage/blog. This is vastly different from a backlink .

You may be wondering why a reciprocal link exchange can be bad. The problem with a reciprocal link exchange is that you have to know what you are exchanging. A link for a link is NOT an even trade! Let me explain. Suppose your website/blog has a PageRank of 7 and the person you are exchanging with has a PageRank of 2. The 2 gets much more benefit from the link exchange than you do. Additionally, links have to be relevant to your website. Remember, you are trying to drive traffic! If you exchange links with somebody who sells dog food on their website and you provide real estate advice on yours, neither of you will benefit! Why would the dog food site’s visitors click on your link?! A link of this nature is NOT going to raise your website/blog in the search engine results rankings. In fact, your PageRank may be adversely affected if you reciprocal link to too many websites/blogs that have a lower PageRank than you.

The last method for obtaining links is to get them manually. This is the HARDEST and MOST TIME CONSUMING. However, despite these downfalls, this is my favorite method. As I discussed in previous posts (Part 3 and Part 4) article submission is a great way to create backlinks. Another way to acquire links is to personally ask webmasters of other websites/blogs. This is usually done through e-mail. This is even more time consuming than article submission and is harder to police. You never know when the other website/blog will remove your link. Therefore, you have to constantly check the other sites to insure that your link is still there.

All in all, I still believe article submission to be the very best way to acquire effective, quality backlinks. Instead of submitting articles one-by-one to the hundreds, if not thousands, of websites that exist, you need use an automated program. Article Marketing Domination is a great guide that shows you how to maximize your search engine results ranking using article submissions. Article Marketing Domination has two great qualities. First, if you purchase the product, you get automated article submission software as a FREE gift; and second, the whole program costs under $30! $30 is nothing! $30 is a night for two at the movies. Think about it like this. For $30, you and a friend can spend about 2 hours watching a movie that may or may not be entertaining, OR you can purchase a great product, ready to download, that can make you a limitless amount of money. By using Article Marketing Domination, you could easily make back your $30 investment with just one article! The choice is a no-brainer for me, but I have met people that make “questionable” decisions about their financial future. Whatever you decide, definitely take advantage of article submission in order to grow you backlinks, PageRank, and ultimately your traffic!

Multiple Streams of Income: The Internet Part 8

Traffic generation is an important tactic to master. The more traffic you have coming to your site, the better your conversion ratio should be. I say “should” because traffic alone is not enough. Website content, ad placement, and follow-ups are just as, if not more important than traffic.

Think about it like this. If a visitor comes to your website but does not like what he/she reads, will that person come back? Obviously, the answer is no. On the other hand, a visitor may love your content and return repeatedly. However, if your ad placement is bad and you do not follow-up, you essentially cut off streams of income that could be producing tons of dollars!

Many ways exist to obtain traffic. If you have read my previous posts, you know that article submission (which creates backlinks) generates traffic. Other ways to obtain traffic are:

(1) Link exchange;

(2) Search Engine Submission;

(3) Search Engine Optimization;

(4) Viral Marketing; and

(5) Friend Networks (MySpace, FaceBook, etc.)


The above list is not exhaustive. However, it does list some powerful methods for obtaining website traffic.

Each of the above methods will be covered in subsequent posts. Note that these methods are time consuming and will take some diligence before you see results if you choose to do each manually. Options do exist that will significantly reduce the time you spend on these tasks and at the same time will increase your traffic. Less time and more traffic is far better than more time and less traffic!

Currently, over 50 MILLION website are on the Internet. How would you like your website to be #10,000? I know that being # 10,000 does not sound that good, however, to put this into perspective, if your website is #10,000 in traffic ranking for all websites, this means that you are generating hundreds of thousands if not MILLIONS of visitors per month! Could you imagine if you had that many visitors to your website?

If you would like this much traffic, you sound definitely check out Michael’s Traffic Videos! These videos cover every aspect of traffic generation that you can think of. Would you like your traffic rank to look like this:



The proof is in the numbers! Additionally, the best of this program is that one video shows you how to get 100,000 FREE Ad Impressions. FREE is always a nice word to hear when you are trying to create income.

Michael’s Traffic Videos will help you achieve these traffic numbers! Create traffic, make money. What could be easier?

Multiple Streams of Income: The Internet Part 7

Adsense and Adbrite are two programs you can use to monetize your website or blog. Put simply, all you do is copy code into your website and advertisements will appear. Every time a visitor clicks on one of the ads, you will get paid. The price per click depends on the ads you are showing. Do not woory about having to learn HTML code or anything like that, because both Adsense and Adbrite are easy to use and offer step-by-step instructions.

Sign-up for Adsense and Adbrite are both FREE, so you have nothing to lose.

A couple of things you should note:

(1) Clicking on your on advertisements is considered “click fraud” and will result in an immediate cancellation of your account and any money due. DO NOT CLICK ON YOUR OWN ADS!

(2) Rules exist as to where and how many ads you can place on a webpage. Make sure you read the Terms of Service for both Adsense and Adbrite so that you do not get your account cancelled.

(3) The amount of traffic you bring to your website will help generate a steady Adsense and Adbrite income. The more traffic you get coming to your website, the better the chance that somebody will click on one of your ads. Therefore, TRAFFIC = INCOME. However, some exceptions apply.

It is important to note that traffic alone will NOT create a substantial income from Adsense and Adbrite. You have to know how to get people to click on advertisements. The Adsense Decoded Videos have gotten great reviews! The best part about the Adsense Decoded Videos is that it shows you how to turn a significant profit even if you do not have much traffic!

However, if you do not like to watch videos or learn better by reading, and want your information instantly, the Adsense Whizz Kid is also a great product. The best part about Adsense Whizz Kid is that you get a FREE 31 Page Report just for visiting the website!

Whatever you decide, take advantage of these of these programs so that you can build another, potentially massive, stream of internet income!

Multiple Streams of Income: The Internet Part 6

Blog advertising is a quick and easy way for you to monetize your blog. Websites like PayPerPost, Blogsvertise, and Blogitive provide advertisement opportunities to bloggers. This is how it works:

(1) You register/submit your blog to one of these sites for approval;

(2) In order to become an “approved” blog after submission, you have to meet some “minimum standards” set-up by the webmaster. These “minimum standards” include a minimum Google PageRank, minimum Alexa ranking, minimum Technorati rating, a blog that has been active for at least thirty (30) days, and/or a minimum amount of posts, (usually twenty (20)) in the last ninety (90) days;

(3) Based on your PageRank, Alexa rank, etc., you will qualify for opportunities at a certain pay rate;

(4) Lastly, you accept one of the opportunities at the given pay rate by writing a post about a specific website and/or product and submitting it to the blog advertising website from which you accepted the opportunity.

If you do not fully understand how the procedure works, do not worry. Once you sign-up to one of the websites, it will give you thorough instructions. Advertising opportunities range anywhere from $5.00 to $1,000+ per post.

Most of these services use PayPal to pay you. Therefore, if you do not have a PayPal account, you will need to sign up for one.

Do not worry about signing-up for any of the blog advertising services or for PayPal, because all of them are FREE to sign-up.

A couple of closing points: these blog adverting services allow you to submit as many blogs as you have that meet their “minimum standards.” Setting up a new blog that meets the “minimum standards” can be VERY difficult and will take an enormous amount of time! Software, such as Easy Blogger Creator can help you literally build hundreds of unique blogs in a mere fraction of the time it would normally take. Can you imagine having one hundred (100) blogs posting the same advertisement for $10 each? That means you would make $1,000 for ONE opportunity! These blog advertising services have HUNDREDS of opportunities. You do the math!

Creating hundreds of unique blogs will also help you create hundreds, if not thousands, of unique backlinks. Remember, backlinks = higher rating in search engine results = MORE TRAFFIC! Easy Blogger Creator will be able to do all of this in the blink of an eye! Take advantage of this system and you could create a relatively large stream of income from blog advertising. Keep in mind that blog advertising is only one of many ways to monetize your blog. If you could make thousands of dollars from only this one stream, can you image the total you will make from your combined blogging streams? Easy Blogger Creator will help create this large streams so you can fully utilize blog advertising services.

Multiple Streams of Income: The Internet Part 5

Some additional notes on affiliate marketing to keep in mind:

(1) Make sure that you are promoting a product from a reputable seller. If the seller is not reputable, two problems arise. First, your reputation suffers, and second, you may not get paid. If the seller does not correctly track sales from your hoplink, you will lose money! We are not in this business to lose money. Therefore, start smart by finding a reputable seller.

(2) When you do affiliate marketing, you may have to give the seller some personal information for tax purposes. This personal information may include your phone number and social security number. If you do not feel comfortable giving out this information, you will need to find a seller that does not track your income for tax purposes. If this occurs, remember to claim any income you make on your tax return. The last thing you need is to get audited by the IRS!

(3) As I stated in my previous post, Clickbank is a good website for finding affiliate marketing opportunities. Alternatively, you can decide to promote a specific product from one seller. There are advantages and disadvantages to both. If you promote multiple products, you can reach a more diverse group of possible customers; however, it will be harder to track sales. If you promote only one product, you may not be able to meet the interests of all you potential customers; however, sales will be easier to track. Whatever you decide, make sure that you consider your time commitments and selling strengths.

Keep these notes in mind when deciding on a seller’s product!

Multiple Streams of Income: The Internet Part 4

A couple of other quick notes about article writing; as I stated in my previous post, search the terms “free article directory” in your favorite search engine to find various article submission websites. Some of the more popular websites are Ezine Articles, Go Articles, and Idea Marketers. Make sure that you submit your articles to these websites!

Make sure you write quality articles! If you write junk, you will not get traffic to your website. One of the primary purposes of writing articles is to drive traffic. Do not frustrate this purpose by submitting three sentence jumbles and expect results. Many good programs exist to help with article writing and submission. Article writing is very tedious, but with the right help from programs like Article Submitter, Article-a-Day, and 30 Minute Articles you can construct quality, traffic driven, and profit producing articles with ease.

Now that you have an understanding of article writing and submission, affiliate marketing will be our next topic. Affiliate marketing is basically selling other people’s products for them. For every sell you make, you get a commission in the form of a percentage of the purchase price. For a better understanding of affiliate marketing, use this link.

Many affiliate marketing websites and programs exist; however, the most popular is probably Clickbank. Clickbank can be used to promote your own product, should you have one, and/or can be used to promote other people’s products in order to earn a commission. If you search the terms “affiliate marketing opportunities” in your favorite search engine, you should be able to find a product or company that you feel comfortable promoting.

The best part about affiliate marketing is that all the work is done for you. The pitch pages and payment options are already set up by the product creator. All you have to do is drive traffic to the pitch page using your special link. You can utilize your website and/or blog to help drive traffic. Also, your special link or “hoplink” is how your sales are tracked and how you get paid. It is of the utmost importance that you remember to use your hoplink in the links you create. Without your hoplink, YOU WILL NOT GET PAID!

Affiliate marketing is a great way to make money. Many programs exist that will help you start and can make you a “Super Affiliate.” Some of these programs are The Super Affiliate Handbook, The Butterfly Marketing Manuscript, and Secret Affiliate Weapon! Many people are affiliate marketers for a living. Everybody has their own strengths. If your strength is marketing, you will want to pursue this opportunity as soon as possible.

Multiple Streams of Income: The Internet Part 3

Now that you have your website and/or blog, you have to drive traffic to your site in order to profit. How do you do this? Article submission is one way to accomplish this task. Article submission is a key way to generate backlinks and traffic.

By submitting articles to various free article directories, three benefits occur. First, you start to establish yourself as an “expert” in the field in which you are writing. Second, you acquire back-links to your website and/or blog. Third, you acquire traffic.

Establishing yourself as an expert will help build your reputation and status. Article writing is the most effective and efficient way to “build a buzz.” Many free articles directories exist and most are easy to navigate and easy to submit. Search the terms “free article directory” in your favorite search engine. You may be surprised by how many sites result. If you search these terms, you should find hundreds upon hundreds of websites that publish articles. Certain software like Instant Article Submitter, 30 Minute Article Writing System, and Article Directory Pro will help you easily create and submit articles. These programs do cost a little money but are well worth it if you want quick results. Making money on the Internet does not have to be hard, and it can be easy if you are willing to invest a little money and a little time.

Backlinks are important for building your Google pagerank and your Technorati rank (for blogs). A Google page rank is important because it determines how high your internet site and/or blog appears on the Google search engine. You must become indexed in all the main search engines (Google, Yahoo, and MSN) also, but more on that later. Backlinks are links that are incoming. In other words, a backlink occurs when other websites put your link on their page. This is different from a reciprocal link because in a reciprocal link, your webpage links to a site and that site links back to your page. If you still do not understand, use this link to get a better understanding of backlinks . The more backlinks and links you have (depending on your links’ pageranks) the higher you should appear when your keyword(s) are searched in Google, Yahoo, MSN, etc. Submitting articles to various article submission websites will help you accomplish all of this.

Traffic on the internet is like location for a restaurant. Have you ever heard the saying, “location, location, location,” in the context of opening a new restaurant? Well, on the Internet, it is all about traffic, traffic, traffic!. Article submission helps you acquire traffic. Once you place you link in an article, an interested reader will click and be brought to your website, or any other website of your choosing. In order to obtain the largest amount of money from your internet site, you need traffic!

On a side note, you should visit Helium . This article submission site, allows you to submit articles, provide a link to your website, and pays you a percentage of all the revenue that Helium collects. Sign-up and submission are both free. Check it out because it is another way to create an income stream.

Multiple Streams of Income: The Internet Part 2

Instead of trying to pitch a specific product, I am going to give you many different options in which you invest your time and talents and can achieve a cash return. Keep in mind that most of these options will not make you a millionaire, however, all will provide you with some extra dollars if you have the desire to pursue them. Further, I am not saying that you cannot become a millionaire with the following options, all I am saying is that in order to achieve that level of income, you have much hard work to accomplish!

As I stated in my previous post, there are many options one can pursue in order to obtain multiple streams of income. We are still talking about the Internet. In this post, I will give you an overview of just some of the options available. In subsequent posts, I will discuss each one in depth.

Blogging
The word “blog” is an abbreviation for the phrase “web log.” Think of a blog as an Internet diary that the whole world can read. People post personal thoughts, ideas, conversation, or whatever they want in order to share with the world. However, as blogging has become more popular, people have used blogs as a marketing tool. The more traffic you obtain, the higher your potential income may become. In order to obtain income from traffic, you can sell a product on your blog, advertise, Google Adsense, and/or AdBrite to name a few. All of these options provide viable options that will monetize your website.

In order to find a blog service that you like, just search the terms “free blog” in the search engine of your choice. If you are interested in a subject and can write, you possess the elements necessary to start a blog. Most importantly, blogging is free and the tools available to monetize your blog are usually free!

Article Writing
Another way to make extra money is to write articles for websites like Helium. Using services likes this will do two things. First, your writing skills will become more refined, and second, you will market your name and your blog thus obtaining more traffic and a good reputation. These two benefits will help you obtain dollars and will also drive traffic to your blog.

Affiliate Marketing
By utilizing websites like ClickBank, you can sell products on your blog for a commission. Selling these products are easy because all you do is provide the link. If your traffic clicks on these links, they are redirected to the product’s pitch page and thus does all the work for you.

Multi-level Marketing
In the spirit of not promoting any specific product, I will not mention any names; however, multi-level marketing can be a powerful weapon to wield in the Internet jungle. It is important that you find an opportunity that is FREE or nearly free AND that provides income to members mostly on sales and not on referrals! If a company focuses too much of its pay-outs on referrals, you may be looking at an illegal pyramid scheme and should avoid the scam at all costs!

Blog Advertising
By utilizing websites like Payperpost.com, Blogsvertise.com, and Blogitive.com, you can make money by writing about a product and posting your writing on your blog. These services are free and very easy to use. The only disadvantage is that your blog has to meet certain requirements of Google page rank, traffic, and/or number of posts. Read the requirements and make sure you meet them before you sign up!

AdSense and AdBrite
These services post advertisements on your blog or website. Every time a visitor to your blog or website clicks on one of these advertisements, you get paid. Keep in mind that the pay ranges from $.05 to $5.00+ and are only really profitable if you have a lot of traffic coming to your blog or website. However, free money is free money and should not be passed up!

Surveys
Many Internet survey sites exist that will pay you to take surveys. Globaltestmarket.com is one such site. Like I said, I will not promote one specific product, so search the terms “paid surveys” in your favorite search engine to see what results. Most of these services will award you points for taking a survey. Once you acquire enough points, you can exchange them for cash. This opportunity will not make you rich, but like I said, extra money never hurts!

Check out all these opportunities and see how much you can make!

Multiple Streams of Income: The Internet Part 1

Let me start by saying that this multiple streams of income series is going to be long. There are going to be many posts over many days, but all should provide help and usefulness. We start with the Internet.

Entrepreneurs come in all shapes and sizes. Some have very specialized education, some are high school dropouts. However, all entrepreneurs share one distinct quality. That quality is the drive, the motivation, the desire to better our current situation. All of us share a deep seeded passion to create a better life for ourselves and our loved ones. As such, we have the talent to succeed in whatever venture we choose. Do not be discouraged if you lack a formal education or are attempting an investment in a new field. As long as you possess that deep seeded passion to achieve greatness, at whatever level, you will find your version of success.

On that note, we begin with the Internet and the most obvious question, “Do I need a website?” There are two ways to approach this problem. You can either spend money or try it for free. Do not get me wrong, I firmly believe the old adage that “it takes money to make money,” however, if you are a new entrepreneur, you may not have much money to invest. As such, you will want to conserve your money for your most important purchases. Therefore, why pay for a website when you can get one for free? A free website will most likely come in the form of a blog.

The word “blog” is an abbreviation for the phrase “web log.” Think of a blog as an Internet diary that the whole world can read. People post personal thoughts, ideas, conversation, or whatever they want in order to share with the world. However, as blogging has become more popular, people have used blogs as a marketing tool. For those of you that want to save some cash, you should check out (1) Blogger; (2) Wordpress; (3) MySpace; and (4) Live Journal to name a few. If you do not like any of these just search the terms “free blog” in the search engine of your choice.

Advantages of Blogging
• It is usually free
• Easy to use
• Many services and products to assist you in blog formation and creation
• Easy to find help with questions

Disadvantages of Blogging
• Your website will have a subname. For example, your website will not be www.yoursitename.com. Instead, you site will likely not have a “www” prefix or will have a name like www.blogservice.yourwebsitename.com.
• Harder to create multiple pages
• Webpage look usually limited to available templates

The choice is up to you. Buying a website can be expensive depending on the hosting you choose and whether or not you are competent with website design. Blogs provide a great alternative and are usually free. Do your homework and figure out which is better for your needs and wants.

Multiple Streams of Income

Just like diversifying a stock portfolio gives you the best opportunity to make money by spreading your risk of loss, multiple streams of income give you the best opportunity to achieve wealth and success. The phrase “multiple streams of income” has been around for some time. You have probably heard it used in various wealth building systems and/or popular personal success literature. The logic behind the idea of multiple streams of income is simple. The more areas from which you acquire income, the greater the chance of success and the less the chance of loss. The goal of multiple streams of income is to build a large passive income and residual income.

Passive Income vs. Residual Income

Passive income is defined as: Income derived from business investments in which the individual is not actively involved.

Residual income is defined as: Recurring income received after the initial sale is made.

Income, as defined by the I.R.S. is: An undeniable accession to wealth that is clearly realized and over which the taxpayer has complete dominion and control.

As you can tell by the definitions, some differences exist between passive income and residual income; however, both are equally important and effective in helping you acquire wealth. Now we get to the million dollar question, how does one achieve a passive income and a residual income? This is the whole concept behind the goal of multiple streams of income.

Multiple Streams

I could easily tell you the many areas of business and entrepreneurialism that could help you achieve a passive and residual income, but it probably would not help much. If I said, “Check out the internet, real estate market, stock market, employment opportunities, and investments/savings products,” you would not gain any insight into these areas of potential success. However, over the upcoming months, I am going to break down each area stated above. I am going to tell you about as many different possibilities, products, and opportunities that I know of in each area. By doing this, I hope to inspire you to pursue some of these opportunities. I also hope to build your motivation and get your entrepreneurial mind working.

The Main Categories

I will discuss: (1) the internet; (2) real estate possibilities; (3) stock market strategies; (4) employment opportunities; and (5) investment and savings products.

Please note that each “main category” will be discussed in depth in numerous posts. I will discuss the many different avenues for each category and how each avenue can help you create passive and residual income.

More to come soon...