My favorite strategy for online income with no investment
You want to start making money online but just don’t have the money to invest in products or all the other side hustle ideas.
In this video, I’ll reveal an online income idea you can start today with absolutely no investment. In fact, I’ll share the actual numbers from when I tried this and made almost four thousand dollars in a single month.
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How to Start Making Money with No Savings
Nation, I love my online business and have made over $400,000 since April 2015 but I was fortunate enough to be able to use money saved as an equity analyst and from real estate to get started.
That’s not an option for many and with more than 20 million Americans out of work, finding a way to make extra money has never been more important.
So I wanted to do a series of videos on how to do just that, make money online but with no money to start, things you can do, starting today to make money fast.
Today I wanted to cover another side hustle idea I’ve tried myself. Something I put together in just over a month part-time on less than 10 hours a week, and made almost four thousand dollars profit.
I’ll show you step-by-step how to get started, everything I learned to make it work and how much you can make.
How Discount Bundle Deals Make Money
I’m talking about selling bundle deals online and you’ve seen these in an email, right? It’s a deal offering a selection of courses, books maybe membership to different groups – all packaged together for a crazy discount on everything.
And why I love this income source so much is because it’s a win for everyone involved. You’ve obviously got some great discounts for customers, so that massive discount on the bundle makes it a no-brainer. You also have all the creators of these courses and books and things; these are the bloggers and instructors. They earn a percentage of the sales plus can earn a commission on sales they make through an affiliate link. Finally you’ve got the organizer, the person that manages the offer, they get a percentage of the sales as well.
You see these more around Black Friday and that’s when I did mine last year but that discount of 50% or more really makes them hot offers anytime of the year.
How to Set Up an Online Discount Deal Bundle
Here’s how you set this up and it’s going to seem a little overwhelming at first but please stick with me because these are crazy easy to make money on and once you’ve done one, it’s going to make it so much easier to do another and another.
First you’ll pick a theme for your bundle, something like personal finances, investing, crafts, whatever topic you want. Then you put together a list of all the courses, books, all the online products you can find in the category.
In this list, you’ll want contact information about the seller, price information and any discounts already offered and maybe a bullet list of what people get from the product.
Now this is an income source you can create with no budget and I’ll reveal how much you can make but this one does take some work researching and organizing. I spent just under five weeks planning and organizing mine with about 10 hours a week but a few of those I probably spent more like 15 hours. You can’t expect something that can potentially make thousands of dollars to be easy or quick.
So you go online and check out blogs in the topic, visit YouTube channels and Shopify. Udemy and Amazon are both excellent sources. You’ll find lots of video courses on Udemy and of course books on the topic on Amazon. These are all contacts you want to add to your list and possibly include their products in your package deal.
I gave myself a full week to put this list together and another week to detail out the idea and put together a basic website. I used Blue Host for the website which meant I could launch it for less than $3 a month. I ended up paying for some graphic design work on marketing material but you could do everything with just that website. That $3 a month web hosting is a special deal I’ve got through Blue Host so I’ll leave a link below if you want to take advantage of that.
Then with your list in hand and the details planned out, you start contacting everyone by email or social media to see if they want to be involved. They can contribute a product to the bundle or just help promote with an affiliate link or both. You want to note who’s involved and how many contacts they have on social media and email because you can use this to get bigger creators on board, like you can tell them you’ve got contributors with a combined 500,000 email list that will be sharing this deal out and that’s going to mean huge sales for everyone.
Once you’ve got your final list of everyone involved and the courses or products in the bundle, you organize the marketing and launch date. You can usually do that in just a few days but I was working with a graphic designer for the marketing materials so I gave myself five days for this.
Now these work best if it’s for a very limited time, like three or four days at the most. You want to give people enough time to promote the bundle through video or a blog post or email but you also want potential buyers to have that sense of urgency like, if they don’t take advantage of this deal fast, it’s going to be gone.
This is why they’re so popular on Black Friday because offering it Friday through Cyber-Monday gives you a natural stop date and that sense of urgency.
How Much Can You Make with Discount Bundle Deals?
You’ll also need to set the rules for the bundle including who gets what percentage of sales and discounts. Here’s the breakdown of creators’ percentages from the bundle deal I offered. There’s basically two levels to the pay structure.
First, all sales are paid out 50% to whoever got the sale with their affiliate link. So here again, you can have a lot of people that maybe didn’t contribute a product to the bundle but are sharing the link with their network. Then the other 50% of sales goes into the next pot.
From that pot, you pay out 50% to the contributors, so that money gets separated out in terms of the value of each product relative to the entire bundle. And the other half goes to the organizer.
So let’s look at my example to see how much you can make with this because it really is an amazing income source. As a creator, say you contribute a $36 course that’s included into the bundle sold for $49 and everything in the bundle was discounted 75% so your course is valued at $9 in the bundle or about 18% of the total sale.
Now let’s say the bundle makes 328 sales or $16,072 and you sharing your affiliate link with your network got 35 of those sales. You’d get 50% of the amount on those 35 sales; so $857 off the top. Half of that $16,000 or $8,036 is being paid out to the affiliates, of which you got that $857.
The other $8,036 from the sales goes into that second level pot and is split among the contributors and the organizer. So if your course was 18% of the sales price, you’d also get $1,476 for contributing your course or a total of just over two grand.
So you can see this can be some great money for people that contribute their courses or products or just something that’s sharing the sales link with their community.
You as the organizer though, you’re getting that 50% of the second level, so half of that $8,000 in this example. That’s over four grand for setting this up, organizing it and making it happen.
And that’s if you don’t get any sells through your own affiliate link and network. Of course, if you’re sharing your own link and making sells, you get the 50% commission from that first bucket as well.
Now any processing fees and taxes have to come out before those commissions and I’ve seen bundles offer a little higher commission to contributors just to make it a sweeter deal but this is easily thousands of dollars for a month or two worth of work. That example of 300 sales at $49 is actually pretty low because I didn’t advertise it or have as many affiliates as I should but I’ve seen these things make double that and more in sales.
Final Tips to Make Money Online with Discount Deals
Some final tips here for making as much money as possible on this one. First is you need as big a list of products and as big a discount as possible. Seriously, make this bundle deal a no-brainer for people by giving them an amazing amount for their money. I think this was my biggest mistake, not getting more products in the bundle as I should have.
Second, you want to get as many people promoting this as possible so reach out and get people to share their unique affiliate link even if they don’t contribute a product. I had a few people promoting the bundle even though they didn’t contribute but again, because I didn’t have as many products in there, there probably weren’t as many people promoting as there could have been. Doing it again, I’d get at least 8 to 10 contributors and at least that many other people ready to share out an affiliate link.
Third here, it helps to have your own distribution as well, so be able to reach people through a blog or your own YouTube channel. I really didn’t promote this much myself because I wanted to see how it would go without that distribution. Future ones though, I’m definitely promoting here and on the blogs.
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Selling these discount bundle ideas is one of my favorite ways to make money online and you can do it with almost no budget. Launch a simple blog and that’s it, just put in the time to research and organize your bundle and you’re ready to start making money from home.