Met John Chow at Blogworld. Nice guy. He does his “making money online” thing very well. But he’s wrong. There absolutely is a secret formula to making money online. I don’t understand why he posted this.
Every once in a while Iâ€™ll come across a comment or an email asking me to stop writing about my personal ramblings and stick to making money online posts because thatâ€™s what Iâ€™m good at and that is what the readers want to learn. They want me to reveal to them the secret formula that will unleash all the Internet riches. They donâ€™t want to know what I had for lunch or dinner.
There Is No Secret Formula
I can think of about 10 “secret formulas” to being successful online. In fact, I gave at least three of them away in my packed room presentation at Blogworld where John was sitting in the front row. You must have been sleeping John? :)
Seriously, making money online is all about formulas. In my presentation I called this one the “secret sauce”. Here you go, free of charge, straight outta my presentation.
Targeted Niche + High Quality Content That Solves Problems + Good Ad Placement = Online Profit!
I went on to show three specific ways to monetize in this model.
Now to be fair, I think John was being a big tongue and cheek. Later in his post he did say.
Making money online can summed up in four words as well: Get traffic, optimize ads. There. Iâ€™ve just given you the secret formula to getting rich on the internet.
John’s statement is true in part, but has flaws.
1. You can’t “get traffic” without a “formula”, and that formula needs to be what I showed you above.
2. For someone who is making a living off of “making money online”, to say that there is no formula seems a bit disingenuous to me.
I won’t even get into my thoughts on how traffic is b.s.