Affiliate marketing online is a newer business model, but it seems to be getting alot of buzz as of lately. It might have you wondering, “Why start an affiliate marketing business?”. I mean, there’s so much hype, you might be wondering if it’s too good to be true, or what makes it stand out from other business models.
I have experience with more than one business model because I’ve tried my hand at a few and I know many others who have tried many entrepreneurial ventures, so I want to tell you what advantages you can find in affiliate marketing, but I also want to be honest with you about the disadvantages. If that sounds good to you, let’s get started…
If you’d prefer to see this content in video, you can watch my video, “Why Start an Affiliate Marketing Business?” here, but excuse the background and interruptions because I did this as a live demonstration of how “life happens”:
As you can see, I was still able to get things done even in my circumstances, which is why I love this business model!
1. Location Independence
While there are many people talking about “living the lapstop lifestyle”, I want to be completely honest here…
The lapstop lifestyle has been a huge benefit to me because I love to be available to nurture my family: whether it’s my kids or anyone else. I don’t like being “stuck” in a position where I feel the conviction to be available for a friend or family member, but I’m tied to a location, and can’t be there when I’m needed.
Having an affiliate marketing business has enabled me to serve my clients (my readers and viewers) from all over the world. When I was in the military, I had times where I had to show up for duty and I had times where I was able to leave. I had times where I had to deploy, and had very little control of my time or location–it was a part of the job. I enjoyed serving my country, but when family tragedies happened or kids had special events, there was always an internal conflict where I’d want to be somewhere, but I can’t.
Having my affiliate marketing business has enabled me to travel, nurture loved ones, show up for emergencies, keep my kids home when their sick (without a loss of income) and be available for special occasions.
I’m aware of the people who live the laptop lifestyle and show the glamour of working on the beach and other places, and I have to be honest…
Sometimes, they make it look quite hyped up. For example, if you work with your laptop on the beach, you can get splashed or even get sand in your keys! Working on the beach or other locations can also be difficult to get wifi, to stay focused, and overall to be productive doing your core tasks (like creating content). The laptop lifestyle looks different for everyone, but for me, it’s been nice to take my work with me thru different life situations, and to have a level of productivity (even if half of my day is spent running after sick kids or cleaning up vomit…mom duties. haha)
2. Time Flexibility
Time flexibility should not be confused with the passivity of the business. Any business startup isn’t going to be passive, and an affiliate marketing business is no different. You have to commit a certain amount of time on core tasks, become self-employed, then scale the business by giving away jobs. After some point, the business can be more passive, but in the startup phase, business is like an infant–it needs lots of attention and money.
Not to bust your bubble, but businesses don’t get more independant until 5 years or so, and at 10 years, it’s even better.
Even with the business being heavily dependant, if you enjoy the core tasks of running the business, it can still be very enjoyable. I enjoy creating content and helping people, so this business is a perfect fit for me.
When I say “time flexibility”, what I mean is…
The ability to perform the core tasks in various times of the day, and the ability to take days off (and make up the work later) without immediate repercussions.
Since content takes 6 months or so to mature in the search engines, I benefit from the work I’ve done six months ago continually. This means if I need to take off work today, I won’t feel it today. I’ll feel it in six months or so (if I don’t make up for it).
Also, if my kids are on summer break or something, I can reconfigure my day to perform my tasks in the mornings, at night, or however it works best for me. With other business models, you have more appointments (maybe for sales like live events or for client follow-up, etc.), so you can’t really have the same flexibility without possibly disappointing someone. Even with my 2nd favorite business model (a digital marketing agency), you have to manage clients’ sales funnels: their ads, their search rankings, their social media presence, or their reputation.
What happens if their ranking slips on the day your family needs you? I’ll answer that for you…
They will call you and want to know what’s going on.
What happens if the cost per click goes up and they notice it on the day your family needs you? I’ll answer that one too…
They’ll call you and want to know what’s going on.
Haha. Every business has it’s pros and cons. Affiliate marketing is no different. I still prioritize things like answering comments, responding to customers (those who have bought something from me like affiliate products or so on), and creating comments whether rain or shine, but I feel like I can reconfigure my day easier with the affiliate marketing business model in comparison to others.
3. It’s Scalable and can be Leveraged
Since affiliate marketing rides on the back of high quality and helpful content, then it can be leveraged and scaled. Once you have a formula for the content your audience likes to see, you can hire others to use your proven method.
Your online content also becomes a library of intellectual property. An affiliate marketing business built on a blog becomes like a digital consultant on a topic over time. When people visit your blog and have questions about a topic, since you’ve loaded it with so many answers, they can search your blog and find answers to their questions. The more helpful your blog is, the more traffic it’s likely to have, and the more traffic means the higher value to the market. A high traffic blog with alot of helpful content can earn lots of money every month, it’s transferable, and it can even be sold for lots of money.
4. It’s Very Impactful
I’m not sure if you’ve noticed, but the internet has become a leading advisor to a large percentage of the world. Unfortunately, there’s lots of crap out there that leads people into scams, has them wasting their time, and possibly causes them lots of heartache.
I’ve personally trusted Youtube or bloggers on things like:
- How to get rid of colds
- How to get rid of pain
- How to solve conflicts
- and, even to develop professional skills
I’ve seen people, both good and bad advisors out there, and I’ve vowed to be a good one. I want people to be able to trust the internet for good advice and meet real and genuine people who want to impact their lives positively. One of the main reasons I chose internet marketing as a career and affiliate marketing as a part of that puzzle is because I can partner with good products and services and share their solutions with others. As a result, I’ve recieved many many “thank you’s” from people who appreciate the advice and recommendations I’ve given, and there’s nothing more fulfilling than knowing you helped someone achieve their goals, or you were helpful to them–at least that’s the case for me! Haha.
As an affiliate marketer, I can help good companies to get more business, ambitious people to achieve their goals, and I don’t have to be the product or service creator for everything–it’s a community effort with affiliate marketing.
5. It Can Be Very Lucrative
In a previous article, I mentioned how much bloggers are reporting on their income reports. Some are earning well over $100,000/mo from affiliate marketing alone, then when you add other income streams like digital product sales, services, e-commerce, or other things, then they can be well beyond 8 figures/year! The funny thing is…
Not everyone who is an affiliate marketer online is considered a blogger. There are:
- E-commerce or Service-based businesses
- People whose businesses thrive off of paid advertising
- Video creators
- and others who make lots of money with affiliate marketing
Why Start an Affiliate Marketing Business? | My Conclusion
Of course, many people will try their hand at affiliate marketing and quit–that’s how business goes. Entrepreneurship isn’t for the faint at heart which is why 80% of small businesses fail within the first 5 years! On the bright side, those who stick with it, find a proven training program, get the right tools, and surround themselves with people who are succeeding will see that affiliate marketing is a great business model!
If you’re interested in following a proven program and getting personal coaching as you learn how to start and grow an affiliate marketing business, join me at Wealthy Affiliate for free! I’ll personally walk alongside you and check in on your to make sure you’re on the right path. You’ll also be able to network with 1.4 million+ members, get 10 free training lessons and two free websites when you join. CLICK HERE TO GET STARTED and I’ll see you on the inside!
Still uncertain and want to know how affiliate marketing works? Check out this article here.