1. The first step to setting up a Squidoo lens is to create an account. Use a real sounding name, fill out as complete a profile as possible and don't forget to set up the payout section with a verified Paypal account. Think professionally from the beginning - you want people to take you seriously!

2. Decide what your lens will be about. If you already have a product or service, figure out what specific demographic will be looking for it and slant your lens towards that demographic. Ask yourself ‘What is my ideal client like? What age? Gender? Income bracket?' Once you have figured out who your audience is, ask one more question: ‘What words would a person searching for my product/service type in the search engine box?' These will be your keyword phrases.

3. Check out the competition. If a certain topic is already heavily covered, brainstorm a different angle or slant for your own lens that will appeal to a tighter demographic. While you are at it, look at highly rated lenses and learn a thing or two. Obviously they are doing something right. Look at the groups as well - you may be able to join a few and get more visibility for your own lens when it is launched.

4. Create your lens. This is fairly simple, as Squidoo walks you through each step. Imagine what would impress you and keep your attention if you were surfing the web for information. Content needs to be informative in its own right, not just empty hype. Connect with your audience by relating to the need that brings the to you, and then explain how you can provide the answer. Include images when possible - they add a lot to your lens and make it much friendlier to the eye.

5. If you created the lens to sell affiliate products, don't get in a hurry and lump them all in one lens. The more options you give, the more confusing and cluttered your lens will be. Stick to one or two, or at the most three related choices so your customers will find making a decision easier. Affiliate links can be added, or links to your own website if you sell from there. Keep the links visible but don't let them distract from the text. You want your content to be readable and friendly, not peppered with highlighted words.

6. Preview your lens and be absolutely fastidious about checking your spelling and grammar. Test all of your links and make sure they go where they are supposed to. Take a step back and look at it critically - do you need more white space for easier reading, or a few more images to break up the text? Turn on the advertising function so ads will show on your lens for extra profit.

7. Publish! Once your lens goes live, you can start driving traffic - Squidoo is set up for Stumble Upon ad several other sites, but you can be proactive. Use Twitter to spread the word, set up a blog to drive traffic and start ‘pinging' your lens and updating it weekly to stay on the ‘recently updated' list for more visibility.

A Squidoo lens can be an ongoing source of profit for you! Once you have done one, it will be easy to set up even more and create a set of linked lenses to market even more products or services.