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July 23, 2011. I woke up early, excited to attend the Day 2 of Money Summit 2011. Wish I could have also attended Day 1 but I had work. Anyway, it’s okay. No worries. 🙂
The RCBC Plaza auditorium was filled with enthusiastic participants who, like, me, were equally excited to learn from the speakers on how to make passive income. Passive income is the income that you earn even while you’re sleeping or having a vacation.
Last year, I also attended the Money Summit 2010. Being a fan of worthwhile seminars, I again attended Money Summit 2011. This time, I had the privilege of being invited as one of the speakers. As such, I gained free passes for me and my friend. Thanks to its organizer Mr. Heinz Bulos of Learning Curve.
I arrived a bit late and I missed the presentation of Ian Del Carmen of Fireball Group of Companies. I could say though, that Ian must have had a very persuasive speech as seminar attendees came in droves to his booth to sign up to his internet marketing program.
Let me now share with you some of the key lessons I learned from the speakers that I listened to.
Speaker: James Ryan Jonas of PinoyMoneyTalk.Com
James Ryan Jonas was a very bubbly speaker. Nope, he’s not the fourth brother of the famous Jonas Brothers. He’s a University of the Philippines Professor who owns one of the top Pinoy websites called www.pinoymoneytalk.com.
He shared the formula for having a sustainable and profitable website.
Profitable website = website traffic + value proposition + business model
Website traffic refers to the number of clicks or visitors that visit your blog or website. Your goal should be to increase the traffic to your site because the more traffic you get, the greater your chance is to earn from your website.
Value proposition refers to the value that you give your readers. For instance, foreclosurephilippines.com provides free listings of foreclosed properties in the Philippines. So if you want to invest in foreclosures, you don’t have to physically go to the bank. All you need to do is to visit the website; thus, you save on time, money, and energy. That’s the value it gives its readers/subscribers.
Prof. Jonas explained the seven (7) business models that you could choose from. These are the different ways of earning money online.
1. Contextual ads – these refer to google ads, infolinks, chitika, or kontera. In very simple terms, you earn money whenever someone clicks the ads that google places in your website.
2. Direct advertising . You earn from direct advertising if a business pays you so it could post its ads in your websites. How do you attract direct advertisers or businesses? Your website should have a high traffic.
3. Partnership. I didn’t quite get how this works. hehe! (If you attended the Money Summit and you got this part, please leave a comment. Thanks:)
4. Affiliate/Referral. You earn commissions when you sell the product or services of others. For instance, you can be an affiliate marketer of amazon.com and you earn a certain commission for every book sold using your affiliate link.
5. Product/Service Sales. Here, you could create and sell your own product. An example he gave is www.errand-boys.com.
6. Brokerage/Marketplace. You provide a platform where buyers and sellers meet and you earn a certain commission for every completed sale. An example is www.sulit.com.ph.
7. Free-mium Membership. This is a membership site wherein members could sign up for free to get the basic features or sign up and pay a premium in order to get advanced features.
What is Prof. Jonas teaching us here? Simple! There are seven ways to earn from our websites/blogs. We just need to choose which among these business models is most applicable to our respective websites.
Now let’s move on to the next speaker.
Speaker: Jojy Azurin of BusinessSummaries.com
Mr. Azurin talked about creating membership sites. He’s using the seventh business model called Free-mium Membership. He also talked about how to create a successful website which you could sell at a later time.
I’ll discuss further how a membership site works based from my personal experiences. I’m a member of two online membership clubs — Bo Sanchez’ Truly Rich Club and Jomar Hilario’s Online Mentoring Club. Being a very busy yuppie who wants to learn from the best mentors, I am thankful for these membership sites because it’s like me being mentored by Bo Sanchez and Jomar Hilario in the comforts of my own home. Bo Sanchez sends me two audio talks a month, daily short inspirational messages, and updates on stocks while Jomar provides me with the internet marketing tools I need to improve my websites.
If you have something of great value that you want to share to interested members, then you may want to consider creating your own membership site.
Speaker Ardy Roberto of Salt and Light Ventures
Mr. Roberto gave a very inspiring message. He’s a successful author and an entrepreneur. His book Ang Pera na Di Bitin is a best-seller. What I liked about his talk was how he valued his family. He shared that he and his wife made an agreement that if their business threatens their family life, then they will give up their business. This guy clearly knows his priorities.
Before I met Mr. Roberto, I chanced upon his article in a magazine where he talked about Ang Pera na di Bitin. It was a short article and he talked about one thing — saving. What he shared in that magazine article I read was not new to me. Yet, he presented it in a very interesting way and that’s how he captured my attention.
Speaker Eireen Diokno-Bernardo of Dekada Arts
I first heard her speak in Money Summit 2010 and she was really humorous. For Money Summit 2011, she only spoke for a few minutes (as she will be speaking again in Money Summit Cebu 2011 anyway) but in that short span of time, you could sense that this lady has a great love for her country.
While I was listening to the speakers of Money Summit 2011, great ideas pour like crazy. I furiously wrote down those ideas in my notebook so I won’t forget them. Soon those ideas will become a reality. 🙂
Money Summit 2011 was a great success! Kudos to Heinz Bulos of Learning Curve.
That’s it for now. I hope you learned something from this article. Got some brilliant ideas? The challenge is how to put them to action.
In my next post, I will share with you some insights from Jay Castillo, owner of www.forclosurephilippines.com; Will Abriza, a real estate investor; and yours truly.
Personal blog: http://www.happysha.com
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Text and Photos by Sha Nacino. Copyright © 2011 All rights reserved.
Member, Bo Sanchez’ Truly Rich Club
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