Millions of people make a living every day through the Internet. There are a number of ways to make money online though the key attribute you need is a good work ethic. If you are willing to work hard you will make money online. It doesn’t matter if you are a high school drop-out or a University graduate, if you are willing to put in the hours you will be able to make good money through the World Wide Web.
Today, let’s take a look at 7 ways of making money online – successful entrepreneurs tend to use a variety of these methods to generate income.
1. Advertising Sales & Affiliate Marketing
The most common method of making money online is through running a successful website or blog which offers banner ads, text links and other advertising options. Advertising revenue from websites surpassed printed and television based advertising businesses a few years ago and the market is growing larger and larger every year.
Affiliate marketers earn a set fee or a percentage of a sale generated for any products of services they recommend. Recommendations can be made on the site itself or directly to readers via an email marketing campaign.
Successful websites usually have a lot of advertising zones integrated into their design. Advertising can be sold directly to advertisers or via an ad-serving network such as Google Adsense.
2. Flip Websites
Website flipping has become very popular over the last few years. The premise of website flipping is very simple. A person purchases a website that they believe is undervalued. They then improve the website in some way and then sell the website on to another party shortly afterwards.
It’s a good way to make money however experience of developing and running a website is vital. The biggest website trading website today is Flippa. Millions of dollars have changed hands through the site and there are new websites and domains being bought and sold every day.
3. Selling Products & Services Online
Why promote other peoples products for a small commission when you can sell directly yourself and take 100% of the profit. Many people are making a killing online by selling via the Internet. Physical goods can be sold using ecommerce software and digital products such as eBooks can be sold online with relative ease via services such as E-Junkie.
Blogs have been shown to be the most successful platform for selling digital products due to the close relationship bloggers have with their readers. Others have used search engine optimization, social media promotion and Pay-Per-Click marketing to promote their eBooks and membership websites.
4. Freelancing
There are fantastic opportunities available for people who can do work for others online. Particularly those with the following skills:
- Writing
- Designing
- Programming
- Consulting
- Administrating
- Marketing
Check out freelancing marketplaces such as Elance, Odesk, FreelanceSwitch and PeoplePerHour for a better idea of the money you can make by working for others and the positions that are available.
5. Stock Photography
Newspapers and magazines are always looking for photographs that are original and inspiring. Most websites pay you between $0.25 and $0.30 per download. Images usually have to be of a certain quality, size and format so remember to read the FAQ for the photography website in question.
Here are 5 stock photography websites to check out:
1. iStockPhoto
2. Fotolia
4. DreamsTime
5. ShutterStock
6. Drop Shipping
If you’ve bought goods online before, you’ve undoubtedly made use of drop shippers. Drop Shipping is when the retailer/seller does not actually keep the goods themselves. The seller simply takes the buyers details and forwards them to the manufacturer or local wholesaler and the wholesaler sends the item directly to the buyer. It’s a popular technique that is used by thousands of sellers on auction sites such as eBay.
You don’t need a lot of money to start a drop shipping company as you only place an order with the wholesaler once the money has been received. The money you make is the difference between the price you sell to the buyer and the price you pay to the wholesaler for the goods.
7. Buying & Selling Physical Goods
A great way to make a little extra money is to buy discounted items you find in shops and sell them online on eBay (usually in bulk).
For example:
- Items that are being sold in a closing down sale.
- Sales items that are being sold considerably cheaper than anywhere online.
- Second hand shops and car boot sales.
Smart phones make this whole process much easier as when you are out shopping you can quickly check the price of goods on eBay to see if there is a big difference between the price in the shop and the price online.
This is a good technique that can be employed by anyone at anytime. Always keep your eye out for a bargain when you are shopping and remember that products with huge discounts could potentially be an easy way of making a quick buck.
