So you've been laid off. Or you're unhappy in your current job and looking to make a change. Or some other circumstance is driving you to think about how you can supplement your income online. Somehow.
You're not alone. I, like thousands of other people, am walking in your shoes. I quit my job last August and rebooted, because I was unhappy and wanted to start doing something else where I was more in control. I also wanted to use the power of the web to earn a good living and design a more flexible lifestyle.
I'm happy to report that it is entirely possible to make money online, though in my experience it is confusing to know out where to start. Unfortunately, searching for the golden ticket to wealth and freedom is like typing "what is the matrix" on Google. (Sorry to mix metaphors from two classic movies. Bonus: name those movies!)
It is also far from a get-rich-quick scheme. Sure, there are the stories of the guy who figured out a way to bring in $10,000 a month or more-but they are the exception, not the norm. If it were really easy to make a ton of money online fast, by now most people would've quit their day job, right? Sadly, people throw good money after bad buying shaky products that promise freedom and a Ferrari for just $1,297 plus S&H.
Actually, there are some products worth that or more that can get you far down the road to online success-but the problem for most is, they buy them and don't actually apply the information contained therein. They either don't crack the seal on the package, or they do and piddle around with the material, then set it aside and forget about it when life gets too "busy" (which for most people is...yesterday, today and tomorrow). I know this first-hand, because I've bought several CD courses and other stuff that I haven't even looked at. Guilty as charged.
But rather than argue the benefits of one system or guru vs. another, for now I'm going to focus on sharing some of the many ways, conceptually, to make money online. And I'm not talking about schemes and scams to rip people. If that's your idea of a good time, move on someplace else. What I'm interested in sharing are honest ways to sell stuff.
So here's an initial list of various ways to make money on the web. I've made a few high-level comments, but will delve deeper into the mechanics and merits of these various methods in future articles.
Advertising
Sell ads on your website. This can be either space you carve out, put a price tag on and sell yourself directly or through an online ad broker. The other, most popular way is to sign up for Google AdSense and/or Amazon Associates (just to name a few of the top sources) and incorporate a few lines of code to display ads relevant to your content. When people click through and buy, you make a small percentage. (Warning: You definitely won't get rich quick, or even make any money really, unless you have a very well-trafficked site.)
Affiliate Sales
Sell either digital products like e-books or physical ones as a virtual "re-seller" for someone else. Make a commission for each sale you make. Clickbank is a big marketplace for selling digital goods, while Commission Junction is huge for physical products. There are also thousands of sellers of products and services with their own, direct affiliate programs.
Blog Reviews
Get paid for blogging about other people's products and services. Check out sites like PayPerPost and ReviewMe to learn more.
Content
Package and sell content in various ways. This can be in the form of downloadable e-books, MP3 files or private videos, for example. Often, it involves enhanced, extended or in-depth versions of existing content.
Consulting
Sell yourself (no, not like that). Use the web to position yourself as a credible expert and attract buyers of your services. This can involve both physical and web-based consulting.
Courses
Package and sell training courses related to a specific area of expertise. This can be either a one-time or ongoing offering (e.g., monthly mailings). Typical materials may include books or printed newsletters, CDs and DVDs.
Free-Lance Services
Similar to consulting. But there's a huge market for free-lance gigs. Check sites like Elance and Guru.com.
Information Products
Produce and sell informational products. Often these are in the form of magazines, newsletters or other bundled materials.
Memberships
Sell access to private, web-based membership programs. This is usually related to selling advanced or extended versions of other digital content such as e-books but can also include:
- Audio/video files
- In-depth tutorials
- Individual or group coaching (i.e., "mastermind" access to one or more experts)
- Screencasts
- Local meet-ups (for larger membership sites)
- Members-only chat rooms and forums
- Members-only networking opportunities (social networking)
- Private listing of key industry contacts
- Teleseminars and webinars
Sell Other "Stuff" Of Your Own
The top ways to do this are usually through an existing marketplace like Craigslist , Ebay, Etsy, Lulu, Zazzle and other sites. Or you can set up your own e-commerce site and either handle all aspects of shipping and handling or outsource this to a drop shipper.
Seminars & Training
Sell either web-based access to classes, or use the web to promote classes, coaching courses, seminars or teleseminars you provide.
Software Products
Sell custom written software that you develop or outsource.
Web Domain Sales
Buy and sell domain names. (Good luck! This is a pretty darned competitive crapshoot from what I can tell.)
Website Flipping
Either build a new website and turn around and sell it, or take over an existing site, improve it and re-sell it. This is an unusual but surprisingly robust cottage industry. Visit the SitePoint Marketplace to see some of what's going on. There are other web site brokers as well.
Special thanks to Shaun Noonan of Learning Indonesian for several of the tips included here!
For Further Reading:
Ways To Make Money Online (DoshDosh)
101 Ways to Monetize Your Blog Without Irritating Your Readers (InsideCRM)
Photo credit: Luz
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