Affiliate Marketing

Things to Consider

2009.0120

I just answered a question on a message board. The question has often been posed, and I thought the subject important enough to include my answer here.

Briefly, the OP (original poster) revealed that he or she was new to affiliate marketing, looking for an "easy way," and taking someone's course; they ended with the perennial question (paraphrased), "Can someone please give me some advice?"

Here is my answer:

I could write volumes on the implications of your simple two-sentence post -- but let's keep this as short as possible. Brace yourself, because much of my advice is not what you want to hear, but it is what you need to hear.

Before I start, let me tell you quickly about myself. I am a CPA, an author, and a lot of other things, including self-employed; I am also an affiliate of several programs. I have seen your question posted many times by many others; the responses, whether or not sarcastic, include several harsh realities.

1. Those who offer to teach you affiliate marketing are making their money by selling a product (knowledge), not by affiliate marketing. It may be difficult to truly know whether some of these people have ever really made money as affiliate marketers.
2. Some have responded to the question you posed by reminding the OP (original poster) that they are competitors in business. Paraphrasing, they follow with a statement and a question "I paid for my knowledge in money and in sweat. Why in the world would I teach you for free how to compete with me?"
3. Affiliate marketing can be used to subsidize your revenue, but few have the skills, ability, and time to make it their primary source of income. You are far better off to find a service or a product you can sell successfully, succeed in that endeavor, then add affiliate revenue to the revenue mix.
4. Don't pay for knowledge that is readily available for free. A tremendous amount of credible knowledge about affiliate marketing is available on the web. You just have to be careful about choosing sources. Many affiliate program managers (Commission Junction is one of the largest) offer their own tutorials, classes, etc. to teach you how to become a more successful affiliate FOR FREE.

   Use common sense. Check the credibility of the source. Be cautiously skeptical of any claims, statements, or advice. Fact check when you can. In short, DO YOUR OWN HOMEWORK.

5. Everyone is different, and everyone's situation is different. Find something that works for you. If you have a job with an employer, keep it while you experiment. If you do not have a job with an employer, look for ways to generate revenue while you experiment. Self-evaluate ("What marketable skills do I have?"). Consider working part-time or on a contract-basis until you get things going. PROTECT YOUR CORE FINANCIAL ASSETS (house, savings, etc.)
6. Don't fall prey to false expectations.
7. Don't make decisions that are based on or prompted by desperation.
8. Whenever possible, wait 24 to 48 hours before making any important decisions, particularly concerning your finances.

The last three pieces of advice I will share come from my own "wisdom storehouse:"

1. If you have to give an answer now, the answer should be "No."
2. Only risk what you can afford (emotionally and financially) to lose. Once you determine an acceptable level of manageable risk and then accept that risk, MANAGE the risk.
3. Free advice is often worth what you pay for it.

I hope you will not be too disappointed by my post, but your own well-being -- and the well-being of your finances -- are too important to risk without appropriate consideration.