Sunday, August 30, 2009

Membership Web Sites Are Cash Cows

By Simon Tidwell

Lately, the economy has forced many people to leave their jobs or take reduced hours and many people in that circumstance have turned to the internet to make additional money. Often they spend hours searching for some product to sell or they develop some program or write a report and by the time they're ready to release it, they have spent hundreds or thousands of dollars. If they're lucky, they make more than they spent. If they're not lucky, like the vast majority, they don't make a dime.

You are probably aware that many people are making over $100,000 every year on the Internet. How do they do that? They have learned a secret formula for success and they repeat it over and over again. These successful internet entrepreneurs usually stay quiet about their secret method, because they are afraid that if they reveal it, it won't work for them anymore.

A little understood secret of making money on the internet is: membership sites. Everyone thinks of MySpace and Facebook, but there are hundreds of specialty membership sites that charge a monthly membership fee. That's why membership sites are such money makers; they earn recurring income. Just one customer who pays $30 a month is actually paying $360 a year. At that rate, you don't need a lot of customers to get very wealthy.

Membership websites, even smaller ones can be worth millions, if not billions, of dollars. Apparently people love to see other people's videos online or chat with people they hardly know. It seems that it would cost a fortune to build and market a membership website. But the truth is, if you know what you're doing, you can easily set up a niche membership site that can start earning money right away. You just need the secret formula.

Naturally, getting a mentor who will work with you step-by-step is the best way to set up a membership site. But most successful entrepreneurs who have done this before are very hard to come by and they probably won't want to share their secrets with you. The internet search engines can help you with a search, but you'd spend a long time chasing down trustworthy data. - 22871

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