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What niche is most profitable to make money line?

by Jeremy Schoemaker on October 30, 2012 · 28 comments

I get a lot of questions from people through our contact form, Facebook, Twitter, or whatever with the same thing.  “I just stumbled across X product.  What do you think?  Do you think its a scam?”.

These can be somewhat loaded questions cause I never know if its the person who owns the product and is just looking for me to review it or if its a spam bot or if its someone who legitimately is asking.

So just to cover all bases I have a canned response that I reply with… and its really for ANY product INCLUDING my own stuff.

I thought this would be a short post… but then I started expanding.

Here is the short version:

My hobbies have turned out to be my most profitable (and only successful websites).  Every time I have chased the new most profitable nitch I have lost money on it.  That is all I can pass on from my experience.  Good luck.

Here is the longer version:

Hi,

Let me first preface this with the fact that I do not consider myself a guru and do not like to tell people what to do.  I will however share my experience and if you find that of value then great.  I also follow this philosify with all of my own products.  I have put a lot of time into producing videos where  I will share with you exactly what I do/did to make a living on the internet.  These are much more in depth video’s then what I could publish in a blog post.

But to answer your question more directly – this really depends on your current financial position.  I allocate about 15% of my monthly online revenue to purchase products.   I don’t think that I have ever NOT learned something from an info product.   It is really hit and miss.  I will tell you that I have gotten more value out of some $9 to $99 e-books then $2,000 products.   For me in the current position that I am in, its more about time then anything.  I honestly would buy every product on the internet that deals with making money online if I had the time to actually consume it.

A very very very small tip that I can pick up directly or indirectly from these products,  even if most of it is complete crap,  can pay for these “How to make money online” products for a lifetime.

But again I look at it as a educational expense and I allocate no more than 15% of my net monthly revenue for this.

When I got started I could not afford any products.  I spent a ton of time online researching on forums.  I recommend the Warrior Forum and Terry Kyle’s Traffic Planet.  Those sites are consistently well moderated and have good people that really are trying to help others.   It was at a forum just like that where I first discovered eBay arbitrage.  A person had written a guide about how he went from living in a car to $500,000 within 2 years doing eBay arbitrage.

This is probably a good time to state one of the biggest lessons I have learned.  Every time I have tried to do exactly what someone else tells you they are doing to make money its been some of my biggest failures.  Mostly because it was something that I was not interested in. But remember how I said that I learn a lot of things directly and in-directly?  This is one of those times.

I looked at what I was doing and interested in.  I loved building my own computers.  I loved taking apart computers and figuring out what did what.  This is something I did as a hobby.  It was not work to me at all.

Long story short I discovered this company called Redemtech.  They are a computer recycling company.  Basically when a company like Wells Fargo buys a nationwide chain of banks they send in Redemtech to strip out all of the infrastructure.  Phones, wires, printers, and best of all computers.  Then they sell these computers… usually by the pound.   Trying to keep this story short I purchased computers from this company that were in “unknown” condition.  But they were so cheap…. it was lI think I got 10 computers for $100 or so.  They arrived on a semi in a wooden crate.  The box was ripped and inside most of the computers were smashed in.  I thought I just totally wasted a hundred bucks.

 

But Then I took them inside and pulled them apart.  I looked up all the part numbers and tested each piece and put a detailed listing on eBay for each.  Started the bidding at $1 for each auction.  By the time it was over I had made over $300 on my $100  investment.   Buying in bulk and parting out has been profitable in about anything since the beginning of time.

There is a reason I did not link to Redemtech  above.  Mostly cause I am worried you are going to read this and decide this is for you.  This was TEN years ago.

Here is my experience with guru’s.  When they openly talk about how they made their fortunes its because it does not work anymore…. or it never worked in the first place.  My thoughts about guru’s is listen to everyone but don’t follow anyone.   Take items from their experiences and apply them to what you are doing.

I know SO MANY people who want to buy the latest product cause its promising them the magic bullet to make a living online.  OR they heard there is some new hot niche like ringtones,  FOREX,  weight loss, or whatever that people are making SO MUCH money on… so they chase it.  They lose there asses.  They end up like Salty Droid, or Pace Latin  who are bitter because they have failed miserably at internet marketing and now they are going to “expose” all these guru’s.  Saltydroid has done really well with it.  Pace Latin has so many skeletons in his closet that he has been dismissed.  (see all the recent published reports of his criminal record and him owing 6 figures in back child support.

Well again I know I sound like a broken record but you don’t have to buy anything.   The keyword being have.  Like I said above I buy a lot of products but I don’t need them or have to have them and I certainly know they are FAR FROM a magic bullet that is magically going to make me money.

Whenever I speak… and I mean EVERYTIME someone always asks me what niche should they get started in if they want to start making money.  I always tell them the same thing.  I have no clue.   Again I like to speak from my experience and not from some theory so with that the answer is pretty cut and dry…  All of my success comes from building websites and services that I want to use and then opening them up to the general public.

Here is my HUGE secret on why all of my companies have been so successful.  Ready for this?  You sitting down?  Here it comes – I am about to pull back the curtains and REALLY tell you the truth!

The secret is I do what I love.  I don’t do it for the money.  I do it cause its fun and its like a hobby to me.

I wrote a computer program that converted wallpapers to the right format for phones.  Then I made it so others can use it.  That little thing made me a fortune.

One day I wanted to display my own ads that looked like AdSense but that I had full control over and could put my own affiliate codes in.  Then I made it so others can use and put in eBay.  This became AuctionAds and within 4 months of its operation was grossing over 2 million a month in revenue.

This blog,  ShoeMoney.com  is a another great example.  I do everything that “experts” say not to do.  I can’t spell worth a shit, cuss, and don’t do any SEO that does not come installed with wordpress.   I have fun with this site.  I enjoy writing it.  I wrote it when nobody read it and someday when nobody reads it again I will still be here with my 1.2 posts a day.

So anyway I hope that this post makes you look at what you are doing,  or what you are thinking about doing and gives you some value.  Again for the last time I will stress that you do not need to buy anything.

 

 

full disclosure

About the author...

– who has written 2895 posts on ShoeMoney.com.

Jeremy "ShoeMoney" Schoemaker is the founder & CEO of the ShoeMoney Blog, Elite Retreat Internet Conference, & the PAR Program. In 2013 Jeremy released his #1 Amazon Best selling Autobiography titled "Nothing's Changed But My Change" - The ShoeMoney Story. Jeremy currently lives in Lincoln Nebraska with his wife and 2 daughters.


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{ 26 comments }

1 Steve Smith

*yawn*

2 Cheap Website Banners

This is one of your most interesting posts. Thanks

3 Tony Moly

Well done, Jeremy. I’ve followed your blog not so long, but I found here many things interesting and useful. Keep moving, man.

4 Charles

It may be “yawn”-able but it sure is adorable! nohomo

Passion has shown throughout these passages.

5 Meg Geddes

It works. What also works is to train yourself to perk up your ears when people start sentences with “I need…” or “I wish…” or “I want…” You’d be surprised how often that might give you an idea to pursue.

6 Trish

You did a nice job of outlining some basic truths about the niche. It brings you closer to the people who require your website, products, and line of business the most.

7 faisal

At some point, work load increases so much, the hobby becomes work.

8 shakil

every niche can be a great source of income if we know how to monetize that exactly

9 Ingenious Investing

The best articles are the ones in which the author speaks from the heart and is truly passionate about the subject matter. This is one of those articles. Great job Jeremy.

10 SaltyDroid

Am I a failed Internet Marketer Jeremy?

Because I’m not {that’s what you are}. I’ve never done a single second of Internet Marketing. I’ve never sold :: or attempted to sell … anything at all online. I’ve put that on the record more than once … so you’re already on notice of the inaccurate nature of your statement.

I demand a retraction.

11 Best Ways To Make Money Online

Excellent post and great ways to make money
thank you for sharing these tips

12 Sha

This is the truth. The people trying to make money online just because they want the money are doing it wrong. I see it all the time. Then they whine & bitch when they’ve barely made over $30. You have to actually be passionate about what you’re doing. Don’t do it for the internet fame or money.

13 satyenhacks

Your truth is one of the reasons I like your blog. I don’t visit daily or weekly but you website is inside my head. And whenever I visit, I see some great post and with same Quality and truth.

Keep up the good work.

14 Steve V

Jeremy, yes I agree with you on this post. You are going to have to spend time on something to make money online. The best thing you can do is focus on something you enjoy and it’s easy to write blog posts and do all the other work you need to be an affiliate.

15 Fahad

Great Blog you’ve got here Jeremy! and I really liked your article, subscribed! :)

16 Social Lead Generation

Passion definitely helps with the daily grind!

17 Brian

Man Shoe you have came a long way since that pic. It shows that you can make money a lot of different ways. The SEO stuff is a never winning battle. I fought with it for several years until I found out about http://www.RegistryCompass.com to find expired domain names that already have traffic. As a web marketer this has made me around $19,700 in the last 6 months. I actually found out about it in the Laptop Millionaire book which was pretty full of fluff but this one tip paid off. Hope this helps other marketers to gain traffic!

18 Travis Hubbard

Awesome photo of you busting up those machines :)

I’ve been lurking for years and finally bought access to your system on udemy.com and have enjoyed watching your videos. There is always something to learn, and you have a nice style – like sitting with a friend tell me all about his job.

Thanks!

Travis

19 Yugioh!

I am motivated :) and smile thank you

20 Sam - Bisnis Internet

“I do what I love” is the key that separetes us from other people who always stressed out every single day, doing things with passion is the best way to keep on going when things became hard.

21 John Burnside

I think you should kind of do a ven diagram with ‘things you love’ and ‘things that can make money’. It can seem like a lot of work for nothing in the end even if you do love it. A little bit of money is always nice just to cover your costs.

22 Randy Qlife

Absolutely true! What makes you more money is your passion, and the way you let others learn about it :)

23 Silver Bullion World

This is so true, if you have no interest in what you are doing its sure to come across that way… even if my site had low traffic I’d still be adding content as it something I’m passionate about, so I dont mind spending time on it…

24 Gogo

Isn’t there a spell-check plugin for WP Shoe?

25 APARTMENT

yeah, i admit it this is very true, just focus it and get the most income you want.

26 award winning web design

My spouse and I stumbled over here by a different web page and thought I might as well check things out.
I like what I see so now i’m following you. Look forward to looking over your web page repeatedly.

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