Affiliate Marketing

This may possibly be the absolute laziest way to make money because it doesn't require you to have a product, make a sale, or ever have any interaction with customers This is essentially a "referral" business, or as one of my book contributors likes to call it, "passionate recommendations." Basically, you can get paid a referral commission just for sending people to sites (or vendors) that are set up to pay affiliate fees once a sale is made. The vendor does all the selling, fulfills the purchase and handles any customer service issues -- and you just collect your check. Not bad!

Some people choose affiliates based on who or what is paying the highest commissions, and that certainly is a viable option. Most people opt to choose products or goods they are passionate about so that the process is much more fun and engaging. Insurance and credit card companies pay high commissions for referrals that convert to customers ($40 to $150 and up), but the competition is fierce. It may pay well, but is this something you'll enjoy doing for the long haul?

Alternatively, you could take a look at your hobbies and other things you enjoy and see which affiliate programs are a good match. As always, do your research to verify the viability of your market. A good place to look for ideas (and downloadable products just waiting for an affiliate) is ClickBank.com This business is very similar to eBay in the sense that it's a monster-sized marketplace but more similar to a store in the true sense of the word. Think having your own retail outlet but without the hassles of rent, employees, utilities, and all the other expenses of a traditional brick-and-mortar store.

The best way to ensure your success is to do your homework and research what products people most want to buy. You need to find a niche. Once again, start with things you enjoy. Let's say you love fishing. What products do fishing folks want to buy most? (Or get even more specific, like, what are bass fishermen looking to buy?) Then the task is to find the right source of those products so you can carry them in your Yahoo! Store. In most cases, you'll be able to pull pictures and product descriptions directly from your sources and plug them right into your store.