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One of the fastest ways to make money on the internet is to promote and sell other people's products on the internet. Being an affiliate to someone else's products saves you the hassle of creating your own products, providing customer support, dealing with technical problems, making sure your product reaches your customers, collecting payment etc. By being an affiliate you can simply concentrate on selling someone else's product for a percentage of the sale's price. You make money without having to do the bulk of the work.
Affiliate marketing is a good way to start making money. But in the long run having your own product has a lot more advantage and can yield a lot more profit. Here are a few ways that having your own product can make you much more than simply being an affiliate.
* Joint Ventures
A joint venture is partnership between two people for mutual profit. If you owned your own product you could approach someone who was more established in your market and offer a percentage of profits if he or she would sell your product to his or her customers or list of subscribers. When you are starting out, you don't have a big list of subscribers and doing joint ventures help your "rent" other people's lists and still make quite a nice profit. If you didn't have a product of your own you could now make joint venture deals and you'd end up losing a huge method of making a lot of money fast.
* Recruit affiliates
Rather than being an affiliate, how'd you feel if thousands of people became your affiliates? Imagine an army of affiliates promoting your product. This is one of THE most profitable methods of making money online - having other people promote your products. But in order to have your own affiliate program you'd have to have your own product. No product = no affiliate program. And that means you won't get to have your own "sales force" making you money.
* Create own list
Having your own list of subscribers and customers is a goldmine. No list equals BIG mistake when it comes to online marketing. A list of eager subscribers or prospects can easily turn into a list of potential customers waiting to buy your products. And the best part is that you can sell to your list over and over, generating profits each time. Having your own product is a good way to create your own list. You could even offer a preview version or a demo version for free just so that you can build your list. Your own list is as important to online marketing success as air is to humans.
* Sell your own back end products
If you had your own product then you'd have a steady stream of customers. If you position your price point of your product to be affordable you could easily sell more expensive products later on as a "back end" product. Often you'd sell your product just to break even or for a small profit. The real money is in the back end products that you can offer your customers. They've bought from you once, and they'll buy from you again. You cannot do back end sales if you did not have your own product.
Having your own product lets you make more money on the internet. Being an affiliate is a good way to start off but ultimately you simply MUST look into creating your own product so that you can REALLY make a lot of money online.