I’m still amazed by the ratio of aspiring internet entrepreneurs, particularly bloggers, who think the best way to make money online is by teaching others how to do the same to the number that truly understand and believe that just as much money, if not more, can be made in a niche other than the make money online niche.
The truth is, there are more thriving businesses online that that have nothing to do with teaching others how to make money. Think about the day to day websites we frequent.
There are so many services on various platforms online (including mobile) that we transact through on a regular basis. Yet I feel many aspiring netpreneurs are reluctant to enter the space because of a blatant false and limiting belief.
THINK A LITTLE DIFFERENTLY TO MAKE MONEY
While there is nothing wrong with trying to make a buck teaching others how to make money online, the space is very competitive and over saturated. In addition to that, scams abound online selling false dreams and promises leave many with bad taste. One of my niche websites about online paid surveys is a classic example of this.
In spite of a proven, working system, it has attracted its share of negative connotation simply by association. Just like credibility by association can prove lucrative for a brand, negativity by association is also a bitter reality.
So is it best to avoid entering the “make money online” space? It’s a personal decision, but why pursue it when several other lucrative opportunities are available that are less competitive and nowhere near saturation? Succeeding in these areas takes exponentially less in terms of time, effort and investment.
I am personally associated with several individuals who are earning a six figure net operating income (not gross income) from their online endeavors in all sorts of niches, from gardening, to roof repair, specialty energy drinks, water bottles, skateboards, bird feeders, vacuum cleaners, dinosaur parties and others.
What do these people or businesses have in common? No, it’s not necessarily passion for the topic or theme of their business, but rather that they all employ proven strategies to succeed in online business – the very same strategies taught by the make money online bloggers. Except, my friends play in less competitive niches with enough market demand to justify the decision to do business.
SELL WHAT THE MARKET WANTS, NOT WHAT YOU WANT
This is where I feel many aspiring entrepreneurs get it wrong. Many sell what they want to sell (hence their passion) instead of selling what the market wants. Passion is important, but more important than passion is a well thought out business strategy that justifies one’s decision to enter into business.
The success of any internet business is predicated on the market demand for what the business offers, the relative competition, the quality of the service provided and then how well the business is marketed or promoted. Most any online business can succeed if the entrepreneur executes these factors right. This is the same approach I take when starting a new online business.
Similarly, many successful online business owners apply the same methods. Just because we don’t hear of them much, it doesn’t mean they are not out there. There are many successful online businesses in all sorts of niches. We don’t know them as much because they don’t toot their horn. They don’t have to and they don’t need to. Personally, I have several businesses online, and only two have anything to do with making money. Most people don’t even know of these.
ANALYZE AND EXECUTE
If you are at a stage where you are contemplating doing business online, or monetizing your existing web property, a website or a blog, do your due diligence to truly understand whether there is enough scope out there for your business idea. If you tend to keep falling back to offering something along the lines of money, think again about other areas of interest that you may be able to turn into a business.
Find your interest, determine if there is a market for it and develop an online business around it. Spend your time and resources studying and acquiring the tools and training you need to materialize your vision. This is where the make money online bloggers come in. Some teach and sell some very good resources that can help you get to where you want to go.
Having said that however, be careful not to get carried away and become delusional about what it takes to succeed. I understand that the tone of some such bloggers may aggressively sell an unrealistic dream. However, do your own objective research and due diligence along with utilizing some common sense.
If you build your business right with realistic expectations and careful planning throughout, you can enjoy the healthy balance between the financial reward, freedom and flexibility that a successful online business can give you.
There sure it a lot of work initially to establish an online business, but this is no different than starting a new career where you have to learn the ropes, consistently perform, build contacts and slowly climb the corporate ladder over time.
STARTING A MONEY MAKING BLOG
I never thought I’d be able to quit my job in 2012 just three years after starting Financial Samurai. But by starting one financial crisis day in 2009, Financial Samurai actually makes more than my entire passive income total that took 15 years to build. If you enjoy writing, creating, connecting with people online, and enjoying more freedom, learn how you can set up a WordPress blog in 15 minutes like this one.
Leverage the 3+ billion internet users and build your brand online. There are professional bloggers now who make way more than bankers, doctors, lawyers, and entrepreneurs while having much more fun, much more freedom, and doing less work. Get started. You never know where the journey will take you!
Updated for 2018 and beyond.
You hit the nail on the head when you mentioned selling what the markets is looking for Sunil. No matter how much passion someone has for a particular subject, it is difficult to actually create demand where there was none before, unless the idea is so revolutionary and new that people didn’t realize they wanted it.
Are you kidding me?? The most successful online marketers and blogs thought outside the box, and offerred exactly what no one else did before them. John Chow back in 1998 I believe, Pat Flynn, Darren Rowe, and the list goes on… These guys are always innovating and thinking up new ideas and new strategies. New is where it’s at! Stick with the middle and you are the middle, in my opinion ;)
Cheers
Affiliate marketing had been around long before any of those guys came along. They didn’t create it or online marketing. What they did was to expand on what was already out there and make it more widely available to the people and easier to understand and get in to.
I don’t think so. those guys approached the age old concept with a new angle. like Eric mentioned, the space they play in is not at all new by any means
ditto buddy. i am annoyed when all people talk about is passion without regard for the market demand
You made some great points. And I am considering creating a niche site as well. Using the techniques you mention, in terms of finding out what people are searching for. And then find out is it a niche that will interest me as well.
if niche sites are your soon to be forte, make sure you read my post on keyword research and building effective website structures
Great post. I agree with “selling what the market wants, not what you want”. Is it worth your time and energy to put something out there that no one really wants. Time is money! It’s true the market is saturated with so much to buy and scams it’s difficult to focus on what is real and what is a fly by night deal. You have to be passionate about your niche and follow through with your customers, listen and be there for them. I believe when you are dealing with an on-line business there needs to be more interaction to capture your audience or they will fade away. Back to basics!
unfortunately many find just like that, the hard way, regretting the time and effort invested in restrospect
My primary source of income is passive through Adsense. I’ve definitely considered more active options and have some ideas in the works right now. You’re right though, creating products that people need (not what you just want to make) is important.
Tim – do you have other web properties outside your blog?
I am not quite reaady for adding products, but I get your point. My website was always intended as a platform for other things. I have some ideas rolling around in my head, but I am not ready to act on them.
anything you feel like running by the group?
I am still sprucing up the store, as krantcents said. I agree about the oversaturation of make money online. There are always enough new people entering that niche to buy from someone above them, someone who may have only started a few months before and is just regurgitating something they bought from the Warrior Forum.
that’s what keeps the make money online niche going, there are always those who are ready and willing to buy from those ahead of them. the ones really ahead are off to bigger and better things….
It still astounds me how many people blog about making money online. There’s so many other niches, certainly we all have interests which could be turned into a business.
true, and just because we don’t hear of them doesn’t mean they are not rolling in the dough. in fact i am willing to bet more money is being made in other niches
I think you are right on many points about all of the various niche’s out there and the myriad of ways to make money in them. However, I’m a strong believer that you need to have a passion for the niche you are in. Sure, I could go into selling water bottles, but if I don’t use the product, how successful can I really be?
Robert, the point here is to marry passion and market demand. Passion alone won’t get you anywhere IMO
I think this sentence hits the nail on the head. It’s not just passion, and it’s not just minding an unmet need in market (or untapped market with potential). It’s about combining the two to have a better chance to hit the proverbial home run.
Ditto
Very true – I could be passionate about book lights, but if nobody else it, it probably won’t go anyhere.
I don’t know that you have to be passionate about a specific product. You may be passionate about an industry, or just passionate about building multiple income streams, allowing you to build several niches. I think when people rush to turn a hobby they’re passionate about into an income stream, it can quickly become drudgery and the business end will suffer.
Andi – some are passionate about the offering, while others are passionate about the process. personally, i can make any niche site successful. but that doesn’t mean i have t be passionate about the topic it covers. however, the ideal venture is one that combines both, as the passion is what helps overcomes barriers that every “business” encounters along the way
Hey Sunil,
Excellent post! Very true! I first strated out my site with the niche “income property” and then as I did more research I found that Canadians mainly knew what it meant due to the HGTV show “Income Property” featuring one of their own, go figure!
Also, although it is what I know very well because I own several apartment buildings, I found that it is difficult to sell a product around the topic unless I make a how to ebook. I mean what we want visitors to do (in terms of monetizing a site) is perform an action item right? Besides, people that are usually looking to make some sort of income even if it is passive usually do not have the capital to make some of the investments I have. For example apartment buildings that are more than 4 units are considered commercial property and people will need to fork out a 30% down payment usually. Well, say you’re looking at a 1,000,000 price tag, that’s 300K down, a more sophisticated investor (one that usually already has moola), not one looking at how to do it. They can just pay a broker that specializes in income property (although there are many problems as some brokers are not owners and don’t get the big picture and miss some critical steps). Most are also not specialized in valuing income property.
In any case I tried to give people what they are looking for and wrote an article that had nothing to do with income property called “Online Installment Loans With Low Interest.” I discovered that to be a popular search keyword. I get regular visitors to my site daily more than anything from that one article!
I think the online community just like many others is dynamic and you have to change your business plan to cater to your clients needs and wants if you care to make it successful. So I think I’m switching to personal finance topics or maybe I should take up gardening? Lol! ;)
seems like you have many interests. my best recommendation would be to spend as much time researching your industry. there are different ways/methods to research the viability of different business models. i.e. for an adsense site you want to spend time on KW research
Haha! Not really, just a few. Jack of many trades, master of a few :)
Great post! There are are many ways to make money online. I’ve been eBaying for over 10 years, and have recently gotten more serious about it. Over 4 months, my sales have gone up considerably! So personally, I like sales of products and items because I know it much better. however, I do want to get more into advertising and advertising strategy.
ebay was one of my firsts as well! way before i started my ecomm website which i sold in 2007 for $250,000. i have found overtime that i prefer information sites over ecommerce websites. how do you manage all the headache?
Good points by Sunil. I guess tutoring others on specific subjects can be a better option. Moreover, most of the make money online sites are trying too ways to monetize their blogs. In this process, they lose tracks and some times, do not make money that would aspire after. Instead, stick to one or two monetizing ways for sometime and invest time in it to earn bucks. Good reading.
Craig, I actually believe in diversification. The more monetization avenues the better. Has your experience told you otherwise?
I always think of this process as “skating to where the puck is” rather than skating to where the puck is going. It’s hard to get a lead out on where people are going, but if you can, you’re in iPhone territory.
that’s why iPhones and iPads are a once in a XY thing. for those of us average folk, identifying demand and filling in the gap is a more conservative (sure fire?) way to approach the extra buck
Great post sunil – i’m glad that you’re admitting that there are other ways to make money online than teaching people to make money online! I’ve been really digging through your site for the last few days because i’m going to try my hand at a niche site – there’s really great stuff in there for those who havent been in a while!
glad to get your endorsement Jeff. let me know if I can help.
and you are right, i make a lot more money in non make money niches
Ever since I started selling what the market wanted I started making money. Damn market… :)
isn’t that something Jai? glad to know things are working out…i know you shifted directions recently
Thanks for another great post. In addition to saturation of make money online blogs, there is also a saturation of deal blogs. You are right about developing products that the market wants. The new site bloggers classifieds is a great example of that. (Yeah, Paul and Yakezie ingenuity.) The trick is how to find what the market wants. Any suggestions?
totally….to determine what the market wants, identify what your industry is and your business model. if you are selling ebooks, i wouldn’t spend too much time doing KW research. if you are building a niche site, KW research is all I’d do…if you are selling goods, spends tons on time on amazon and ebay measuring the market. you get the point…
It seems to me people make money in one of a very few ways – affiliate marketing/sales, sometimes combined with sales of their own stuff; niche sites; life/business coaching/consulting and motivational BS. I’m so over the bloggers who constantly write about how to make money and shilling their lifestyle.
those are certainly some popular ways to make money online. fortunately, they are niche agnostic
Hey Sunil, thanks for the inspiring article. After reading this article and a previous one you posted about The Pyramid Model, I really would like to try to create a niche site. I find your information very useful, and I hope to apply it one day.
Anytime Eric. Please let me know how I can help you along the way
Right now I am running a student finance blog and unsuccessfully trying to monetize it. I have made almost $1. However like you mentioned I am new. I think that there is a lot to be gained from the best “make money online” sites but a lot of people likely start them without knowing much just because they know that it is something people will look to.
Who is your target market? College students?
Interesting article, Sunil. I need to rethink what my niche area is. But I was wondering if Poor Student was monetizing too early. When is the ideal time to monetize your blog? What sort of traffic should you be looking for?
If I ever go full-time, which might be soon, I am going to really focus on filling the demand side of the equation. I feel there is a real need for someone who managed to climb the corporate ladder, save 20 years of living expenses, build a six figure recurring side income, and retire by 35 or by 40. I’m pretty sure there will be good demand for this product, and a good amount of consulting business to do! Whatcha think Sunil?
but don’t you think you are already doing that? whatever you are doing to earn a high salary at work, or generate six figures online (assuming your blog or real estate), is obviously serving a gap/need right? your experience is certainly worth a lot to a very specific niche, but how you package that into a “product” is what I foresee as the main challenge. have you considered writing a book, building your brand (your name) and offer high dollar life/business coaching? that is what I see as the primary application of your skill set (not knowing it as much as you do of course)
I have, and I plan to. It’s just to obvious to me there is a need from someone who’s done both, and not from someone a couple years out of school, with no money, that tells you to “live your passion.”
There are likely hundreds (if not thousands) of niches in which you can make money. Just look at the good old yellow pages. Maybe not every brick and mortar business can be translated to something online, but many can. And of course many of the brick and mortar places are getting a great deal of their business because of their online marketing. I agree with Sunil though, I am much more interested in information products vs. ecommerce so that definitely narrows the field down.
it’s interesting you mentioned that. over lunch the other day someone recommended writing about how to acquire / better operate specific brick and mortar businesses and sell the information to those who are looking to get into it. so yes, bricks can be taken digital as well in many ways…
Nice article Sunil! I don’t have a marketing background so for me the hardest lesson to learn was to sell what the market wants, not my personal passion.
many of us can relate. but once there, it’s just a matter of trying new things to get in front of your customer.
Good article Sunil. I tend to get an idea, research that idea, and never implement the idea. I guess you could say I over analyze things. I currently work full time and go to school full time, so time is a major constraint. I hope that I can take the expertise from everyone here and actually make one of my ideas work in the near future!
Paul, let me know if I can be of any help. The beauty of the net is that you can profit from your passion / interest
I am constantly looking for ways to generate income online that is not dependent on blogging. Currently, most of the money I make comes from the blog but it is beginning to diversify. I think it’s easy to get started in the ‘make money online’ niche because it is what people are looking for, but you are right, that niche is oversaturated. Unless you can come with a different angle, you will get crushed.
what are some other ways you have diversified LaTisha? what are some of the other ways you would like to get involved with? are these passive or active ways to generate revenues online?
The only way I make money online is through my blog. I am not super interested in doing much more that that, because while I can see the potential and benefits, I really like blogging – I don’t know that I would like many of the other ways to make money online, so I’m not super interested. I have a day job and don’t really want to have to work at something I dont’ love doing, you know? Maybe one day I”ll find an onling niche other than WLGYL where I’ll be happy doing it.
Daisy, help me understand how you are making money from your blog? Do you feel your income is sustainable? It’s good to hear that you are happy doing what you are doing. That is critical.
The problem that I am experiencing is that that there is a demand to the result of my service, but not for the service itself. The demand of ereader-formatted ebooks (especially kindle) is there, but the bloggers writing those ebooks don’t realize the demand and just release a pdf.
Edward, what makes a reader formatted one so different from a PDF? the reason I ask is because all my ebooks are in PDF format, and my refund rate on all combined is probably less than half of half a percent if I were to guess. do you blog about the benefits, pros/cons?
Flexability. Reader formats are essentially webpages while PDF is essentially a desktop publishing format. Reader formats are designed to be read small screens (any size screen, really), while PDFs are designed to be read on large screens.
Your refund rate is low because people expect that it’s going to be a PDF. There is an untapped market of readers than AREN’T buying your book because it isn’t in a reader format. The only PDF ebook I’ve ever bought was a textbook for college. Think of it this way: who sells more ebooks? You or Amazon?
I’ve have written one post that touched upon the subject, and it’s in my sales pitch on the business’ site, but I should probably do a more in depth post on the topic. Thanks for the idea!
Edward – email me. I’d like to learn more and if it makes sense I can use your help in converting the ebooks to the correct format
I have a few ideas I would love to explore given time to work on them and guts to try them out. I know the resources exist to teach me what I need to know but I really need to learn how to better manage my time (and effort) on our current blog … and then figure out how to fit in the new ideas.
do you have a clear goal for where you want to go with your blog? mind sharing? let me know if i can help in any way
I started a group purchasing site for hoteliers in 2006. Within a year, I sold it for a very good amount. Now, I’ve developed an iphone app for hotels to sell rooms directly. And, I am in process of launching a site similar to airnbnb soon. You can see my iphone app at http://www.mistay.net/
that’s excellent Shilpan. what is your specific background in the hospitality industry? I love this industry – not working in it, but benefiting from what it has created for me :)
Sunil, I own several hotels. I also work for a large bank in IT as a business systems architect. So, I have best of both worlds. IT background with business knowledge. I try to capitalize on that.
great background and even better way to capitalize. traits of a true entrepreneur indeed. where are you located (only if you’ve shared that info before)?
I am in Atlanta, Georgia.
Loving this post. Sometimes we forget to give the consumers what they desire rather than what we want. Good advice keeping in mind what the market wants.
I think it is also worth considering to create what the market may want…no one wanted an ipod until it existed. I believe that if you blog about what you know (not what you have read on 10 other blogs)…you will be able to make money online.
i agree. nothing trumps first hand experience, which is what i try to do on my blog. with regards to the iPod/iPad, these are revolutionary products that I am not sure the market knew they wanted. Apple somehow has a knack for finding a market and then turning them into believers
[…] Alternative Ways Of Making Money Online via @yakezie […]
I actually have a few ideas for some niche sites that were inspired by reading some stuff on your Extra Money Blog, Sunil. I loved your Building Niche sites via the Pyramid Method post. Now the trick is to get ahead on my blog so that I have the time to actually think about building those sites.
do you have some niche sites set up now? feel free to email me if I can be of help in any way. what are you exactly wanting to do with your blog before diving into niche sites?
Great post! Took me a little long to get over here and read it, but I’m glad I took the time!
I truly believe you must have passion in what you do. Money is a great thing but it’s been proven over and over again that money doesn’t buy happiness (see athletes, movie stars, and read a few books on more “normal” millionaires).
With that said, you’re 100% right in the fact that you must have a demand for what you want to sell. Supply without demand = a bankrupt business.
I tend to over think sometimes and create too much of a business plan, but I do believe that helps your chances of succeeding and prospering in the long-run. You can’t do it on passion alone.
curious – have you started something that has taken off for which you created an extensive business plan? i went to b school as well and like b plans to an extent. online however i am a believer that one must shoot relatively quickly ( i am not saying don’t think it through but do it quick). the internet is much more forgiving. this assumes you don’t start something that requires heavy capital expenditure
Very thought provoking. Your site is one that continues to offer some unique concepts. I just don’t get where you find the time:) Being a bit creative is definitely underrated.
it’s easy to find time if what you write about is part of your day to day routine. i write from experience, experiments, tools that i use, things that have worked for me, etc. thank you for reinforcing that the content is useful. when it stops becoming useful, i will stop blogging.
Great point Sunil! Many people overlook that to have a successful business, it has to be a product or service that is demanded by the market and not only something the creator has a passion for. This is essentially business 101 and should be explored when compiling a business plan. Great article! :)
definitely 101 – surprisingly to see still how many miss it
Inspiring post in deed. The idea is somewhere around us, a lot of ideas actually. We got to find out. Either create a new value and create a new process to enhance existing value. Give the people what they want and you are the king.
good point. don’t necessarily have to reinvest the wheel either
Thought provoking stuff, Sunil. I love your methodical approach to things.
good to see you after a while doc. methodology ensures we stay on track and not get distracted….and can replicate processes :)
I’ve been way more successful at making money online than telling people how to make money online ;-). For some reasons, it’s much easier to concentrate on other niche than telling people how you concentrate on those niche and make money out of it.
The high level of competition plays a role but I think there is much to it. Most people will read stuff about making money online, comment about it, think it’s “so cool” and they start dreaming about when they will be rich. At no moment they will take action.
On the other side, when I write for investors that are looking to make money, they are not in the dream world; they are looking to make money and take action. This is the type of readership you need to look for.
Hi
Thanks a lot for this great article about alternative ways about making money – especially the part about wanting what the market wants. Tweeted! Everything you say is true, although I think that just taking action is the hardest thing for most people. I also have a site about the different ways to make money online
why do you think it is so hard to take action? what do you feel people need to get up and do it?
Mike – do you think a lot of this has to do with the way the message is crafted? I agree with you to a certain extent, but I also feel that there are action takers seeking internet marketing information that if/when provided with practical advice, they take it and implement it, no?
hope business is doing well
@Sunil,
you might be right. There are action takers but I feel that there are less people ready to truly invest in their business as compared other niche. I have the feeling that most people think they can do it without investing much money into their website.
The biz is going pretty well, what about yours :-)
sure, there are many who think they can piece the puzzle. they sure can, but at what cost? for busy folks who are relatively well off, I recommend ponying up the fees and shorten the learning curve.
business is booming, glory goes to god
Surprisingly, putting a paypal button on your blog simply asking for a donation of support will bring in another decent stream of income.
very true Mark. I have this button on each of my niche websites and they do bring in funds as a result of appreciation for the free information that is useful/helpful
awesome! congrats Sunil!
Online businesses are no different than ordinary businesses. You have to give what people want or they will go elsewhere. I am still working on that!
yes indeed, except the medium and method is much more streamlined, preferable and
“scaleable”, hence the massive migration online – not to mention the cost aspect
I’ve been browsing recently over the internet looking for posts that are useful and helpful, and I’m glad that I made it here. I get some important ideas for enhancing my page since I am a newbie for this field. Thanks for sharing great ideas.
you are most welcome Christian. please let me know if I can help you along the way in any way. if you haven’t checked out yet, I am giving away $1,500 cash and an Apple iPad on my blog. participate if you get a chance.
Thanks for sharing some of your wisdom, Sunil. In my mind a great way to build wealth is by creating something that will be of value to others, so that is always something to keep in the back of your mind. The “eat your own dogfood” approach can work — would you use what you produce if you were looking in the same niche?
great contribution Kevin. in addition to passion and demand, the offering has to be of value. I agree
I agree that you’ve got to be open-minded to find what’s going to work, then put the work in! Jumping in blind is a quick road to disaster! I’m currently looking into the relatively untouched micro-niches that I think we could do well with. Still working on the research involved!
would love to hear more about it….
Nice job on your giveaways Sunil! And I think it’s so neat how many niche sites you own. Very cool :) One of these days when my schedule gets calmer I will have to create one of my own. -Sydney
very cool as well Sydney. the process still excites me today – something about seeing something solid created from “nothing” – it’s like giving life lol. thx for participating in the giveaway, quite excited about that as well
I wish there were easier ways to make money online. It seems like everything requires hard work, devotion, heart, and commitment! Why can’t life be easier :P
it can be much easier. become a Monk :)
I am fortunate in that I am blogging my passion, and making money from it. However, I truly need to diversify my online income. This is a little bit scary to me! I think I need to read your blog more;).
yes! you have totally been a stranger lately :)
I had an online venture selling stuff. At first I was earning a lot but, because other people copied how we do things, the competition grew large and fast. I was late to realize that search rankings matter and suffice to say I was left in the dust.
If it were all that easy everyone would be making a fortune online. Nothing comes easy.
I don’t know which I enjoyed more the post or this comment string. Between the arguments for and against passions, variations to move products and the ethics behind your motives I think it really comes down to allocation of resources. In one of the econ classes I teach I talk about a mechanics dilemma when we cover decision making and stuff like Nash Equilibrium – I think it might be applicable here in the making money online market. Aside from differentiation you have to really have a plan at the start meaning determining if it’s going to be a quality or quantity type game for you. Either way you are going to be allocating time but the biggest variable you have to wrestle is how quickly you look for the pay off. Consumers might be overly trusting sometimes but they aren’t foolish so in my opinion it’s important to stress that quality card regardless of approach or niche. If you bring something to market quickly it might be an easy substitution and while you may have a few repeat customers building stakeholders and advocates will be an entirely different challenge all together. Kind of like Sam did when he talked about his approach a few comments back. Just know what you’re in for when you start having an idea about entry into and an exit for whatever business model you choose. Oh and back to the mechanic – the idea there is the quality mechanic might charge more and service you less, as an advocate for him you will refer him increasing the level of his business…it’s the “you should use my guy” effect. Bad mechanics have a low return customer rate so are constantly focusing on bringing in new business – they compete on price and seek out the”quick” money.