everyone this is Stefan James from
Project life mastery calm and we are
live right now on youtube if you're just
joining in I'd love to hear who is
joining in and where you're joining in
from I'll give you guys a shout out so
post here in the chat your name and
where you're from and on this live video
I'm gonna be sharing with you guys my
favorite way of making money online okay
my favorite online business model and
and to kind of preface this a little bit
one thing I'm gonna mention is that
there's many many many different ways
that someone can make money online
there's many different online business
models out there and I think that
they're all great okay they all have
pros and cons okay and you can make
money in all of these different ways and
I I've made money now in many different
ways and I continue to true this day
however what you're gonna find is that
there might be certain business models
that are more aligned with you okay that
you might prefer more than others for
example someone watching this right now
they might really prefer Amazon FBA the
physical products business other people
and educating people so that might be
their favorite way right there's all
these different ways that exist out
there and that's not that there's one
that's the best one better than
everything else I think it's finding the
one that is the right fit for you
that you enjoy that you believe in that
you're actually gonna implement and take
action with okay and oftentimes whenever
someone asked me Stefan which business
model should I get started with my
response typically is whichever one that
inspires you the most and that you
actually believe in the most because
whatever the one that you believe in is
the one that are actually gonna do and
take action with versus if I just say to
you hey you should do this business
model but you don't really believe in it
you're not excited by it then you're not
gonna put in the action and the work
just to succeed with it so a lot of its
based on your belief and your mindset
and actually taking action with it okay
now I see many of you guys are joining
in right now before I dive into the
content I want to acknowledge you guys
for being here I see a few of you are
leaving your comments
shirring where you're from as I see
Nicole here from Nashville I see someone
here from Germany welcome I see Lisa hi
Lisa and I see a few questions coming in
what I'm going to do is I'm going to
open it up to answering your questions a
little bit later on in this video so
stick around to the end and I'm happy to
answer as many questions as I can get to
got Linden from Meridius Lisa from
Germany welcome someone here from London
awesome welcome everyone Poland India
Vancouver India India Michigan London
San Diego Virginia Miami Washington
state Mexico Toronto welcome everyone
I'm here in Los Angeles
weather is it's great to be here in the
wintertime because it's always warm here
in LA so I like to spend my winter time
here cold laugh via Pakistan cold we got
people joining in from all over
fantastic ok so let's dive into my
favorite online business model so again
what I was mentioning there's all these
different ways of making money online if
you've been through my free course where
I share the seven different ways that I
make money online then you can learn
about all the different business models
you can learn about that @ww project
like master comm slash free course but
first let's go through the different
ways that I make money online
one way is creating digital products and
courses okay so teaching people through
a lot of the online programs that I have
such as affiliate marketing mastery and
K money mastery morning ritual mastery
the life mastery accelerator online
business master accelerator okay the
next way is through physical products on
Amazon okay so selling physical products
doing e-commerce another way is
publishing books on Amazon so Kindle
books paperback books audio books
another way is through advertisements so
for example on my youtube videos some of
them have monetization turned on which
means that some of the videos
YouTube will display ads the pre-roll
ads before the video starts or even
throughout different videos and so I
earn revenue from creating my content
and sharing it out there on YouTube
another way is through software okay I
have a software that helps publishers to
better manage their books and market
their books on Amazon another way is
through affiliate marketing by promoting
and sharing other people's products and
services and then earning a commission
for that another way is by doing
coaching and events I just did an event
this last weekend in Los Angeles my
online business mastery mastermind I do
some one-on-one coaching as well so all
these different ways that I make money
online but which is my favorite which is
the one that is my favorite way my
favorite way of making money online is
actually through affiliate marketing
okay by promoting and sharing other
people's products that I've personally
benefited from and gotten great value
from sharing those with other people
through my affiliate link and then
having other people if they're
interested in it go and buy those
products and then I earn a commission by
sharing it now the reason why this is my
favorite way of making money online is
because I actually don't have to create
a product and service and this is from
someone that's created many different
products and services and I enjoy doing
it but the only thing that I've learned
is is actually takes a lot of time for
example whenever I create a brand new
course or training program it usually
takes me a few months to really create
that course it starts with the idea a
lot of brainstorming really trying to
figure out how I can differentiate or
how I can solve a specific problem or
challenge so there's a lot of time
researching there's a lot of time and
money and actually creating the product
or service you know usually working with
the team
designers graphics you know someone who
can do the technical aspects of things
sourcing a product for example you know
from China or whoever it might be
and there's usually a considerable
amount of cost involved in that and it
can take a few months just to launch
that product and even then there's
there's some risk factor involved in
that
because you know you're risking a few
months or a couple thousand dollars in
some cases to create it but you're
really not sure how well it's going to
do you try to do the best you can to
mitigate the risk by doing a research in
advance so the more prepared you are
researching things you know can help you
determine that your product that you're
gonna launch or sell can really be a big
winner and really take off and do well
but there is that risk involved in it
and I've also learned from my experience
that I'm not going to be able to create
every product out there you know I'm not
gonna be the one that's gonna always
have all these ideas and create
everything that there is for you know
for me to share with people so I'd much
rather partner with other people that
have a great product and then share that
with you guys or with my audience and if
you guys can benefit from it great
that's awesome
and the other reason why I love
affiliate marketing is because I'm
always trying to improve myself I'm
always trying to grow develop myself I'm
always investing in a lot of different
products and training programs and
things for my health things for my my
mindset things for my business and so
I'm always investing in different things
and benefiting from that and when I
benefit from something something I find
I naturally have a passion to share it
with other people and you know I'm on
this project of life mastery right so
I'm trying to develop all these
different areas of my life and once in a
while I come across something that is
really incredible that I can share and
by sharing it if they have an affiliate
program I can earn a commission by
sharing it with other people without
without it costing anything extra for
the customer and so the way I've always
looked at affiliate marketing is it's a
win-win-win it's a triple win it's a win
for the customer because they've now
discovered a product or service that
they didn't know about before that they
now get a benefit from and invest in
something that can help them solve a
problem or achieve their their goals in
their life a lot better it's a win for
the company because the company now
acquires a new customer that they didn't
have access to before which is great for
them and it's also a win for me because
I can earn a commission by sharing that
product that I know
could benefit someone else and I didn't
have to you know create the product I
didn't have to market it I didn't have
to deliver it I didn't have to do the
customer support and a lot of the things
that can be involved in actually selling
the product and actually running that
business so it's a win-win-win and the
way that affiliate marketing works is
that pretty much all products out there
they have an affiliate program that
anybody can join you can join their
affiliate program and they give you an
affiliate link that you can then use and
you can share it with other people and
if other people click on that link and
they go and buy the product the link
automatically tracks that that sale was
referred by you so with software and
technology it automatically tracks
things they place usually a cookie on
the person's browser that will
automatically track that that sale came
from you and then you earn that
commission from it so it's really cool
how technology is able to do that for
you it's able to automate that process
so that you can benefit by sharing these
products and services with other people
and then it comes back to you my
favorite way of doing affiliate
marketing as well is I not only try to
share a product or service but I always
try to create a better offer for my
audience so for example if there's a
certain product that's out there that I
think is really great and I think my
audience will benefit from it I'll go to
the company I'll say listen I'm thinking
about I'd love to share your product
with my audience but can you can you
give some sort of like amazing discount
for them you know I want to I want to
incentivize them I want to you know get
them to take action to benefit from this
and I want to give them a better offer
than what you guys have on your website
so could you guys give me some sort of
coupon code or something that I could
use to share that with my audience so
that they can benefit from it and so
that way I'm providing more value by
getting them a discount or another way
that I could do it is I try to think how
could I add more value is there a bonus
is there something I can create or that
I already have that I could share with
people that might complement what
they're going to invest in and I could
give that to them for free so that it's
an even better offer for them and so
that's where I might bundle in some of
my courses or trainings or things that I
may be
or things I think could be great value
and benefit to people and then that
further incentivizes people as well so
they're getting more than what they're
paying for and I think that's a
fantastic way of doing it as well you
know in business I've always shared how
the key to success in business and
making a lot of money is adding more
value to other people's lives than
anyone else because your income is only
a direct reflection of the value and the
contribution that you're making so if
you're adding massive value and you're
doing that first and foremost you're not
doing it for you you're doing it because
you're sincerely caring about other
people's needs and wanting to serve them
then when you serve others first the
nurnies get met simultaneously in the
process of that so you get rewarded by
adding value and contributing to other
people's lives and so affiliate
marketing is my favorite way and the
great thing about it too what I love
about it is that it doesn't require a
lot of time so I think it fits in with
any other business model that's out
there okay and really the ultimate goal
is that you want to build multiple
streams of income you want to diversify
your different sources of income in your
business so if right now you're for
example leaning in the direction of
building a physical product business on
Amazon well you're probably attracting
people to you you're acquiring customers
and then once you have those customers
oftentimes when people first start
selling a product they only have one
product but a lot of people that will
buy your product
you want to increase the lifetime value
of that customer you want to offer them
something else or that you can
potentially make more money from that
customer so that way you can make more
money on the back end but when you're
gone only one product it could take you
a few months like I said to launch the
second product and the third and the
fourth product and that's where
affiliate marketing comes in because you
can find someone else's product out
there that you think would be a great
fit for your audience that they could
benefit from and then you can easily
promote that and share that with them so
for example if you have an email list
you can send out an email and share a
great product with your audience if you
have a Facebook page and you have
followers there if you have an Instagram
if you have you know a YouTube channel
if you have a podcast if you have a blog
if you have
any of those different any source of
traffic or Amy's type of list or
following then you can easily you know
further monetize that by finding great
products have an affiliate link partner
with them and share that with your
audience and they're gonna love it
they're gonna appreciate you sharing
that with them right and you can make
money doing that at the same time so
affiliate marketing is great for that
it's great to complement any other
existing business model if you've got a
book on Amazon and you've got people
that are buying your book well you want
to think about how can you how can you
get those people that are buying your
book on your email list and once they're
on your email list you can either
promote more books that you might have
or you can find other complementary
products out there as an affiliate join
the affiliate program and then share
additional products with with those
people that are buying your books does
that make sense hopefully it does so
it's it's a great way to complement and
increase your revenue in your business
as you're making money and the reason
why it's so easy and fast is because
again you don't have to create anything
there's a low risk you just have a link
you put the link out there if nobody
buys it it's not it's not a big lost or
anything because it only took you five
minutes to share that link and then if
it doesn't work out and it doesn't
convert it doesn't sell you can easily
move on to another product and another
product and another product until you
really find a great offer a great
product that your audience or your
customers really love from you and
that's really benefiting them so it's
great for that the main skill you got to
have though with affiliate marketing is
you and by the way this is for any
business is to get traffic visitors
followers attract people to you okay but
you need that regardless of what your
business model is if you're selling a
physical product you've got to find a
way to get traffic you got to find a way
to bring people to to you and then
funnel them into your product so they
can buy it if you've got a book same
thing you got to find ways to market
that book and attract people to you and
then send them your book for they they
can buy that okay so that's the one
skill you do have to focus on with
affiliate marketing is attracting people
to you the good news is there's many
incredible ways that you can attract
people to you online
you can
create a Facebook page you can create a
YouTube channel you can create a blog
you can create a podcast you can do
Pinterest you could do LinkedIn you
could do Instagram you could do snapchat
or whatever it might be there's many
different ways that you can attract
people to you you've got to identify
what is that what is one or two ways and
really go deep with it and really know
what the niche is that you want to be in
my favorite way of marketing is through
content marketing putting out great
quality content for free okay you're not
paint you're not charging people for
your content you're just doing it for
free you're trying to add massive value
to other people you're trying to create
useful information educating people
helping them to solve their problems
meet their needs achieve their goals and
when you have really great content
that's out there people are gonna find
it they're gonna search for it and you
can optimize your content for certain
keywords and every platform is a little
bit different the strategies around that
but once you attract people to you and
you get to know them and you engage with
them then you can send them your
affiliate link or link them to a product
or something that can further add value
to them so content marketing is my
favorite way of marketing online put out
great quality content that really serves
people put out content that's better
than anything else that's out there okay
and that's I'll show you how you build a
raving fans people that love your
content so much that they keep coming
back for more and I think when you have
really great content and you're really
adding value to people you don't
actually have to worry about marketing
that much so for me I don't have to
market or sell anything to you guys
because I know that if I do a really
amazing job just sharing and giving so
much there's always going to be a
percentage of people that consume your
content and they're like wow this is
awesome this is great what's next right
because there's going to be people that
want more and they want more from you
they want okay you know maybe they
enjoyed the free content that's out
there that you put out there but they
want to go deeper with it I know I know
that's my case whenever I watched three
YouTube videos or a podcast or something
like that I'm like wow this is great
is there a course is there a training is
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