The idea of making money online is attractive to many, primarily because of the benefits it offers. Two main incentives are motivational factors here: The lucrative potential of the internet as well as the personal freedom that comes with working without a fixed schedule or geographic location.One doesn’t need to suffer through monotonous day jobs which offer poor returns for the time invested.
Indeed, why make $7 an hour selling coffee behind a counter when you can easily earn the same amount by spending 10 minutes to write an article on your blog?
Even if you’re not looking to work full-time at home, the internet offers a viable source of money which can help to supplement your regular income.
Cataloging the Different Ways to Make Money Online
A basic search on Google will reveal many ways to make money online and most of the websites listed in the search results pages all seem to focus on the same methods of making money.
I thought it’ll be a good idea to categorize and compile a list of the online money making methods available so that future visitors to Dosh Dosh will have a reference point which provides them with all information they need.
This list uses a rather broad categorization, which I believe covers most of the ways to make money online. More methods and examples of how to make money online will be added to this list, which can be considered a work in progress.
1. Set up a Blog or Website for Profit
One of the best ways to make money online is to create a website or blog which allows you to earn money from the display of advertisements or the sale of products and services.
There are many different types of money making blogs which will help you to make money and you’ll need to pick a model that suits your interests, schedule and skill levels. A simple no frills blog will allow you to easily pull in at least several hundred dollars in a month through the use of paid blogging websites alone.
For more information, check out Dosh Dosh’s archive of articles on how to make money blogging. Apart from blogs, other websites can easily help you to generate passive income as well. These can range from e-commerce websites, social communities and information portals to basic landing pages for affiliate programs.
2. Learn about Affiliate Marketing and The Art of Selling
This involves promoting a specific product or service and earning commissions whenever the referred user makes a purchase based on your recommendations.
Affiliate marketing is a big and profitable industry that covers a wide spectrum of topics and fields. If you’ve got an interest in fitness, you can make money promoting fitness videos or courses. In terms of fashion wear, you can earn commissions by recommending friends to clothing or t-shirt companies with affiliate programs.
The amount of money you make depends on what you are selling. Done correctly, affiliate marketing is one of the most powerful ways to make money from the web. Amazon, Commission Junction and ClickBank are three of the biggest affiliate marketplaces you can use if you’re branching out into affiliate marketing.
3. Start an Online Business
Starting your own online business or company allows you to make money off the provision of specific services or products you may have. Some examples of popular online trades include web design, copywriting and internet marketing.
It isn’t difficult to start a business. It’s all about hiring the right people or having enough knowledge and connections within a specific industry. You should do some in depth research before you decide to settle on a specific niche for your business. Entrepreneur.com has a good collection of tips on how to start an online business.
4. Try Out Domaining and the Online Real Estate Trade
This is the business of buying, selling, developing and making money from domain names. A domainer purchases many domain names and sells them to interested buyers. This is similar to real estate investing offline and domainers also make money by developing websites and reselling it to a buyer.
This practice is known as site flipping and can make you a tidy sum of money if you know how to build an attractive and profitable website. For a rough estimate of how much money you can earn from site flipping, check out the SitePoint Marketplace to browse through the collection of websites for sale.
5. Participate in Get-Paid-to Websites
There are hundreds of websites out there which you pay you to read emails, do surveys, sign up for trial subscriptions and surf the web. Websites that pay you to complete offers are worth examining because they usually include affiliate programs with recurring commissions to be earned.
The benefit of get paid to websites is that you don’t need to have your own website or any personal skills at all. The downside is that there are a lot of get-paid-to scams around and finding websites that are legitimate can be fairly difficult. Scam.com is a forum you should visit to learn if the get-paid-to website you’re interested in actually pays its members.
There are also several Web 2.0 or social media websites out there that will pay you to participate in their community. This collection of social media websites usually operate via a revenue-sharing system, which allows you to earn a share of the overall ad revenue. How much you earn depends on how much your submitted article, video or image is viewed.