How I discovered my app niche

With the success of the mobile app marketplace people from all over the world are creating new and exciting apps.  With so many apps being created everyday, I asked myself, How could I make money when there are people far smarter than me.  This question took me several months to answer, and was actually answered while sitting in a meeting at work.  I was in a meeting and one of my co workers said something that was a little stupid.  My boss commented he wished he had an app that he could press a button and a buzzer would sound or something else show it was a stupid idea.  Thats when a light bulb when off in my head.  I could make these apps and sell them to people and make money.

Where to start?

I first needed to figure out what platform I was going to write my code in.  I choose iOS and needed to so research on how to get started.

I needed to sign up for a Apple Developers Program ( $99)

Needed to purchase a Mac ( I choose a Mac Mini $599)

Next I had to figure out how to code ( These books help me get started)

I have an Idea and everything I need, Now what?

Next I needed to find a website where I could buy sounds.  I found Soundboard.Com this place has tons of sounds for free and for purchase. As you look through all the sounds I began to think,”Should I make one big app or many small apps? Should it be free  and use ads or charge for it? ”  At the end of the day I decided to go with singular soundboards costing 99 cents.  The reason I did this originally was one people are only looking for a certain type of sound and having more would require them to search the app. Second I chose 99 cents because once it is purchased I get my share.  I don’t have to worry about people clicking my ads to get paid.  Third it opens up a lot more keywords.

Through my experience people who do have killer apps make a ton of money, however if someone really takes a hold of a niche market, such as I did they also make a pretty nice Passive Income from all of their apps.

In my next post I will be going my June profits as I will be getting paid this coming week.

Cheers

Mike

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Easy Ways To Earn Passive Income Now

Raising Profits of Passive IncomeThe availability and affordability of the Internet has allowed more and more people to start their own businesses from home. Just like a traditional business, an Internet business can require a big investment of time before they become successful. The advantage of an Internet business is the passive income. In fact, some of the best ways to earn passive income ideas are Online businesses. An online business will keep making money for you even after you have gone to sleep

There are many ways to start earning passive income on the Internet. Most of these are inexpensive to start. You will spend time to get them set up, but they will keep making money with almost no work. Here are three great passive income ideas to help you on your way to financial freedom.

The first idea is to sell your photographs on stock photography websites. There are many stock photography websites on the Internet that will let you sell your photographs. After taking some photos, upload them to the website. Each time a person downloads one of your photos, you get a percentage of the money they paid. Once you upload a photo, you don’t have to do anything else. I personally use Crestock to sell my images and video.  Click here to learn more

Another one of the best ways to earn passive income is to create a website. The site can be about anything, but you should pick a topic that you either know a lot about or want to learn more about. Once you have decided on the topic, create your website. A great web hosting service is BLUEHOST for  a small monthly fee they take care of all your hosting needs.  Click here to learn more   

There are also ways to make money from your website.

One way is by having advertisements on your site. There are companies that will pay you every time someone clicks on an advertisement on your site. The other way is to find products and sell them as an affiliate. You earn a commission every time someone buys through your site.  Linkshare is one of the largest affiliate programs on the internet. With many different companies to sell for they are great for starting out.  To learn about Linkshare click there.

These are just three ideas out of hundreds of some of the best ways to earn passive income. Get started with these ideas and always keep looking for more income streams to add to your bottom line. You will probably not get rich using just one of these streams but by combining many you can earn a very comfortable living at home.

Thanks for Reading
Cheers
Mike

My Apps Page Just Posted

Hey Everyone, Hope all is well.   Tonight I posted a page on my site called “My Apps”  The purpose of this page is to show you all the apps I have created and allows you to take them for a spin.  As you will see many of my apps are niche soundboards.  So far since 2010 when I figure out my niche I have made around $20,000 a year on them. You may think well that’s not a lot of money is it?  Your right it isn’t but it is PASSIVE INCOME. I built each one of these apps once and they will continue forever to make me money.  The figure I mentioned above is only for iOS apps also.  As I add the links for other marketplaces I will explain my income on those as well. Another place to see my passive income will be my monthly summaries I will be posting that the first week of every month for the past month.   Again take a look at my apps and play with them.  My next posting will focus on how to find a niche for apps in any marketplace.

Until then, Take Care

Mike

Step One ( Start a Business)

Good evening Internet world this is my first post. Being my first post I figured I would take about the first step I took in securing my future.  The first thing I did before I even thought about creating Apps was to start a company. I used LegalZoom  to start my LLC in three easy steps you will be able to reap the benefits of having my own business. There are many advantages to having your own company. Besides the tax write offs , you will also be able to write off your internet and computers.  Here are a few more examples of why starting your own business if a great idea.

Tax Benefit

A standard corporation is treated as a single entity that must pay taxes on the revenue it generates, and then the corporation owners must pay taxes on that revenue again in the form of income tax, according to online small business resource Gaebler. In an LLC, the distribution of revenue is treated as in a partnership. The LLC is not considered a single entity but rather a collection of individuals. Revenue generated by the LLC is passed through to the individual owners based on the agreement created when the LLC was incorporated, and the owners then pay tax on that income. There is not single-entity revenue tax with an LLC. This allows the LLC to avoid the double taxation that occurs with a standard corporation.

Limited Liability

One of the primary benefits of an LLC is that the owners have limited liability for the business’s decisions. If the business owes debts or is sued, the owners do not have to pay for those debts out of their own pockets. Sole proprietors and members of partnerships are liable for business debts, so if a sole proprietorship or partnership goes out of business, the owners might be saddled with a large financial burden that could lead to personal bankruptcy. Members of LLCs and corporations are protected from business debts.

Income Distribution

According to the U.S. Small Business Administration (SBA), the income earned by an LLC flows to the members and taxes on the income are paid through the personal income taxes of the owners. In other words, an LLC is not taxed as a business entity separate from the owners, as is a corporation. This gives the business flexibility to distribute income to owners as they please.

Again I can not stress enough how important it is to start a company. Even if your just a blogger you can use a LLC as a tax advantage, that is unless you like to pay taxes.  Again be sure to check out LegalZoom to get started  today, also be sure to check out my resources page for links to other great products or services to make you successfully reach you “Permanent Holiday”

Cheers

Mike Nowak

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