This is a great question. Here goes:
Step 1 : Decide on your niche:
Rather than simply jumping from one affiliate offer to another - decide which niche you are going to work in. Then do your research of this niche and see what is currently available; how competitive is the niche with other affiliate marketers. The range of affiliate products that are available for you to promote.
Step 2 : Analyse your current talents and skills set:
Affiliate marketing is a business and you can indeed have a genuine affiliate marketing business. Know your strengths and weaknesses like you would have to know with any other type of business model.
Then create a business plan on how you are going to utilise your strengths and what type of education you will require to compensate for your knowledge deficit. Also include in your plan how you will outsource (contract out) tasks you either don’t want to learn how to do yourself and/or have no desire in learning how to do. Then develop a financial plan based on your business plan, complete with relevant costings and be realistic re this.
Step 3: Make a genuine commitment and stick to it:
Now comes the doing part. Analyse how much time you have available and please be realistic. If you can only spend half an hour each day then stick to implementing your affiliate marketing business for this half hour each day - consistently. Rome was not built in a day. You don’t have to full steam ahead and then run out of puff down the track.
As the childhood story goes: it was the tortoise who won the race because the tortoise consistently kept putting one foot after another. Whereas the hare started like a bullet out of the gate and then ran out of puff.
Step 4: Test and tweak - Know Thy Numbers:
There is no point doing a whole heap of work and then not know what is working; what is not working; how many $$$ are you spending in order to receive a commission on the sale. In other words be prepared to test every aspect of your business and make relevant (and I do say relevant) tweaks as required.
The definition of insanity is: doing the same thing over and over again expecting a different result! Not only will you drive yourself nuts trying to figure out why you’re not making it as an affiliate marketer, if you do not test and tweak you do not know what to implement more of; what to implement less of and what is producing the bacon so to speak.
Step 5: Avoid the Shiny Object Syndrome:
There is a very real and present danger for any online business and that is jumping from one shiny object to another. All the while buying into the pipe dream that you are going to make it rich overnight. All you are doing is lining other people’s pockets with your hard earned dollars.
As the saying goes in the Kenny Rogers song: Know when to hold them. Know when to fold them. Know when to walk away. Know when to run.
This is especially true for an online business. You have to know your market; know where your target market hangs out. Know what your target market is prepared to buy and not buy. Know what strategies you are going to implement. Know what strategies just is not bringing home the bacon so to speak.
And you cannot do this if you are jumping from strategy after strategy without giving any one strategy the time value it requires in order to ascertain whether it will work the way as promoted/intended or not.
These 5 steps are key to your success. Only you can decide whether to implement all 5 steps or skip a step. However, I would seriously recommend you avoid skipping a step as a major aspect will depend on the step you skip.
Implement all 5 steps and you will have an affiliate marketing business that will sustain you in the long term.
Now if you want to also learn how to bring a product to the market place and the steps involved as well as great affiliate marketing strategies to implement whilst you are developing your product then check out this free webinar: Webinar With John
John has supported more people to become success stories in their own right than any other online marketers combined. So maybe he knows a thing or two.
To Your Continued Success