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There are a number of important benefits to making money on MySpace. The most important is that the market is extremely easy to tap. All you have to do to find prospects is to begin searching for people who have interests related to your given product or service. You can then add these people to your friends list.

This is a significant advantage over other methods of finding prospects, as it allows you to do so completely free of charge. Furthermore, MySpace has built-in mechanisms that help you to contact these prospects and to warm them up for selling.

One of these mechanisms is a “bulletin.” A bulletin is a message that you send out to all of the friends on your friends list at the same exact time. Regardless of whether you have 10 friends or 40,000 a bulletin will reach them all in a matter of minutes. Next time they open up their profiles, they will all have that bulletin you sent.

How can you use this in your favor? You can send out a bulletin about something related to your business; and then use that to lure them into reading your MySpace.

For instance, you could stage a giveaway event – and then mention that in your bulletin. This will be especially effective if your friends list is composed of people who you selected based on their interests.

You can also send out private messages to individual users. This is a good method to use in conjunction with a database. If you are taking the time to invite people individually, also take the time to add them to a database, along with some notes about them. If you think they might want something particularly, you could always send them a private message to let them know you are a seller. You can then offer them a discount if they are interested.

There are a number of different benefits of using MySpace to make money. I have listed only a few of the things above.

MySpace is an excellent tool to use for selling virtually anything on the Internet; however, it is important to take into consideration that certain uses of it could put your business in jeopardy. For this reason, you should exercise caution when creating and using a MySpace account.

The biggest risk of using MySpace to make money is basing your entire business model on a MySpace profile. This is a big risk because MySpace technically owns your profile and can do with it what they wish. If you send out bulletins to your friends and one of them takes issue, your account could be flagged and banned. This means that all of your source of new customers would grind to a halt in an instant.

Another significant risk of using MySpace to make money is that MySpace’s terms of service are somewhat unclear about business use; however, the generally accepted understanding of the ToS is that you cannot use MySpace for most commercial uses, including sending out bulletins that include links or putting up links on your profile. Additionally, business profiles are almost certainly not included as a valid use of MySpace.

Additionally, in different sections of the ToS, there is some indication that MySpace reserves the right to sue anyone for commercial use of bulletins.

If, for instance, you send out a bulletin to 40,000 friends, they could fine you a certain amount for each of those individual friends. In most cases, this isn’t something that happens, but it is a possibility if you abuse MySpace for commercial purposes.

Another risk of making money with MySpace is that many segments of MySpace users simply do not convert well. They are teenagers, who do not buy things with credit cards online. If you spend all of your time building up a MySpace account to promote your business, you may end up wasting a considerable amount of time and energy, but without many rewards to show for it.

For all of these reasons, you will want to be cautious about the way in which you use MySpace and the amount of effort you put into it.

If you already have a product or service that you want to sell, this is not a question for you. You will probably setup a website, create a profile, add friends, and then use that profile to direct friends to your website, where they can purchase your product or service.

If you have no product or service ready, that is an entirely different story. If this is the case, I suggest selling private label electronic products in specific niches. For instance, you could purchase a bunch of private label content E-Books about do-it-yourself home repairs – and then you could target that specific crowd with your products.

I personally suggest that you begin by looking for a target niche on MySpace. For instance, determine whether or not there are a significant amount of people who are interested in carpentry or soccer. Then determine whether or not there are places where they usually congregate to discuss these topics. If this is the case, then you have a market at your fingertips.

Once you have your market determined, then begin looking for private label products, including software, E-Books, and reports. Begin compiling a stock of these materials and then figure out how you will sell them to your customers. For instance, do you want to create a membership site? Or would you rather sell each component by itself?

The last step is to find some way in which you can market these products to your target audience. For instance, should you simply mention to your friends that you are having a sale at your site – and give some sort of a discount to everyone on your list? This is definitely one option.

Another option is to specifically find people who might be interested over forums and groups and send them private messages with the information. Ideally, however, you will want to restrict all marketing efforts to your friends list, as your chances of being flagged will be much smaller.