Using Opportunity & Setbacks

There's two important concepts The Monetizer wants to contemplate today when it comes to making money. The first is one I touched on here a few weeks ago, finding opportunity. A great example of this recently surfaced with the current gasoline price situation. Mygallons.com is a recent website started which included a member's fee. The premise behind the site is members could "lock in" a current price per gallon for gas and then not have to pay above that if prices move up again. Don't rush out to join the site just yet though. According to a news report, the bank connected with the website backed out, leaving the site temporarily unable to fulfill its promises. Despite the fact the site is in a state of limbo, it still has a chance to be successful. Should they find a good bank to back the concept, this could be a highly profitable website based on a current problem people face: how to get the best deal on gas to save money. Most great ideas are born as a way to solve a problem or address the need of people, so it's possible to think up something else which could help people in these trying economic times.

The other concept to keep in mind is setback, or failures. A recent episode of "The Big Idea with Donny Deutsche" on CNBC discussed making comebacks. If you just suffered a job loss, or a business you were running went bad, the idea is to learn from the failure rather than wallow in it. In fact, many amazing businesses were born due to failures, including Henry Ford's highly successful automobiles. It's the idea of "try try again" which really drives many an entrepreneur. To allow one setback to ruin your spirit and possible success in making money could be the biggest mistake you make. That's not to say keep pouring money and time if you have a seriously failing business venture, but it is to say that if you re-evaluate, regroup you will eventually find success with the right plan. It's not so much about luck, but more about drive and determination.

The same goes for online money-making. If you're not reaching the minimum with Google Adsense, consider adding a few more blogs into the mix using the Adsense code. Or consider using other monetization strategies such as Widgetbucks, Shopping Ads, Chitka Mini Malls or even try for Affiliate marketing. Through experimentation you'll find what works best for you and be on your way to more money online.

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