Monday, 27 March 2017

Top 10 genuine Ways To Make Money Online

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1. Sell On Ebay


It quite clear that eBay is the winner when it came to secondhand commerce online. As a result my first experience making any money from the Internet was selling old games, toys and electronics on eBay.


eBay is still I believe the best way to gain experience making money from the Internet for two reasons –

  1. You are pretty much guaranteed to make some kind of sale and thus experience a transaction
  2. EBay has the traffic, so you don’t have to worry about marketing your product beyond creating a good listing, the eye-balls are already there
These two reasons make eBay a great first stop because you will learn how to list something for sale online, how to take money (possibly your first experience with PayPal) and about the importance of things like titles and copy writing, if you spend the time to study how to make your eBay listings convert better.
I spent quite a bit of time studying eBay, both as a business model and as a means to capture new customers because of how much buying traffic is there. There is no doubt that eBay is a fantastic website that represents a huge potential to make money, but in my case I wasn’t keen to build my business there, it didn’t match enough of my criteria.

The best thing about eBay – the abundant traffic – is also the worst thing. Barriers to entry are low on eBay, meaning competition is fierce. When competition is fierce, profit margin is slim. Unless you can find some form of competitive advantage through your supply chain, how you create listings, or you have a means to increase volume, you’re not going retire rich thanks to eBay.


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2. Sell products in forums, bulletin boards, classifieds and other community type sites

however I still believe niche collectibles, particularly in a market that you really love, is a fantastic starting point to gain experience making money online. Like eBay you can make money selling secondhand items in community sites if you can find a way to source product at cost or below. It’s not a model that has much margin so again the challenge is to scale if you want to make significant profit.



3. Selling Products Online Is A Big Opportunity

Online commerce obviously represents a huge opportunity to make money online, and having your own product or a passion for a product that you can source can lead to big profits.
You can sell product from your own website store, via community sites and classifieds and of course eBay and collectively make good money. The challenge, like with any business, is defining what is your competitive advantage and can you come up with a model that meets your needs. For me selling physical product was a great proving ground, but I eventually learned that profiting from information was a preferable model if I wanted to meet my aforementioned business goals.
I’ll leave it in your hands to decide whether physical commerce is the way to go for your situation.

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4. Sponsorship advertising on a content site


Banner advertising, when set up using a system like many bloggers presently use, can be very hands off – in fact for me it’s entirely passive – assuming there is an audience that the sponsors benefit from advertising to. It’s difficult to make loads and loads of money just from banners unless you have significant traffic, but it is easy enough to make some money from it and once you do, it generally proves very reliable unless you stop updating your website.


I’d recommend this method to you if you have some kind of content based site or a community site that attracts enough traffic to make it worthwhile for sponsors. The best thing about banners is that they don’t have to replace any other income method you use, you can use this income stream in tandem with others.




5. Sell services you provide personally


Selling some kind of service that you personally deliver isn’t still a viable option. The Internet is a fantastic place to market your services for free. Similar to what I talked about in the first three points, you can use online community sites, classified, forums and your own website to market your service.

The downside with this model is that you are still trading hours for dollars, which is a violation of my holy trinity concept. It’s not necessarily the worst option – and many people enjoy the life of a high-paid consultant very much – but it does have the inherent limitation that a service is not replicable unless you personally do it yourself or hire people to do it for you, both activities that take time and/or resources.
If you are good at something and enjoy helping/teaching/working on other people’s projects, selling what you do online is worth considering.

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6. Outsourcing of services provided by other people

You can be a mediator or manager to provide end product to a client. some of the best type of products in this field is being a manager in language & translation field.

Selling a service is a real option for making money online. The challenge is sourcing good people to do the work, learning what specific offer to make to the market, how to differentiate yourself so you earn good margins, how to market what you offer and how to automate the entire process so it becomes a passive income stream.




7. Paid reviews


I don’t mind writing paid reviews as the income Is pretty good in terms of how long it would take and how much one earns. You can make as much as $250 an hour, which is great. I never did like that I was told what to write about rather than choosing subjects I enjoyed.


The challenge for you, if this method is relevant to your growth stage, is to create a website where you can command a price for paid reviews that makes it worth your time. Until your traffic is significant, charging more than $50 for a review is not realistic, so you need to build your website asset first.




                                  


  8. Affiliate marketing

As my blog audience grew I began to test a method of making money I was very interested in – affiliate marketing. My first test proved positive, though initially I was disappointed that of my readership of 500 or so people (at the time), I could only sell one or two products, making $20 commission each. It wasn’t retirement money, but it was a start.

But Affiliate income can become your new best source of income but for that you need great audience reach. By combining blog and email newsletter you can easily reach thousands of people with just one piece of content. By testing different products and recommending things you use yourself you will be able to earn as much as $50,000 in commissions selling just one product....and these are not just facts, these are tried and tested by all the big guns out there.


Affiliate marketing is possibly the single best way to make a living online because it is so hands off, can be automated easily enough and can deliver some incredible profit margins. It’s especially good when you can use affiliate marketing to recommend things in areas you are personally interested in – for example you can make money simply writing a review of a book you really wanted to read anyway and you get paid for doing what you love.


The challenge for you is figuring out what market(s) to enter, building an audience and maintaining relationships with your readers so they trust what you tell them. If you know something that other people want to know and you are prepared to share that information, you could be looking at a fairly lucrative affiliate opportunity.


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9. Sell your own information products

One of my client says "the single most profitable income stream I have ever developed is selling my own information products. I have created courses on how to make money with blogs and membership sites. I also have several reports, an ebook and new products on the way.
The profit margins on information products is significant, especially as you can earn money for content you created years ago.Once the course was created I continued to sell it year after year to people new to the industry who want to learn how to make money with blogs.Like with affiliate marketing, your potential to succeed selling information products rests on your ability to identify market needs, tap into audiences looking for this information and then give them what they want."

Technology makes selling information online relatively easy to automate, once you get through the learning curve. If you focus on areas you are passionate about you can build expertise and leverage that trust and credibility to make sales of your products. Best of all, all of this can happen while you sleep, once you have built the machine to do it for you.




10. Combine What Works For You

In my case progressing through these various methods, figuring out what I actually want from a business and then combining different methods to maximize my income and personal satisfaction has worked the best.

I recommend you follow a similar path to build your own business. Figure out what you like using the options above and other resources online, begin testing to see what works and learn more about what you enjoy, and keep at it until you find what “floats your boat” and is incredibly profitable too.


Good luck!