This is a very beaten up topic to write about.. but sometimes we just need to be reminded how someone can actually make money online without making things sound too easy. Some ways could have worked in the past and some still continue to work till today. I will make this as current as possible and put in some of my personal experiences with some of them.
Life As A Freelancer
Freelancing is as you know is still a big industry and many people are still seeking freelancers to accomplish some rather mundane but important things that takes a lot of time like freelance blogging, freelancing writing, freelance graphic editors. I believe this is an area that will not go out of time as they will be a constant need for freelancers. They are thousands of marketers who don’t have the artistic talents or time to do certain thing for their business so they will always require people to do some work from them.
I have quite a big list of freelancing websites for you to check out both for jobs and for jobs to be done. For starters, sites like Odesk and Elance are great places to consider.
But will freelancing help you make a living and allow you to quit your job?
YES.. The life of a freelancer can be pretty difficult and it is difficult to start in the beginning and you need to learn how to market yourself, win job bids, and get people to notice your work. But it certainly can fetch quite a decent amount but probably as much as you earn in your average day job. I might be wrong here but this is what I learned about most freelancers. The important thing here is if you enjoy doing this job, you will find a way to succeed.
Setting Up an Ebay Business
Making money on eBay is still possible and sometimes you don’t really need to put in hard work at all. Some auction sellers strike gold in the beginning when they choose the right things to sell while some will be faced with obstacle after obstacle before hitting the spot. Many people are skeptics with eBay thinking that they will never make it. While this is true, the main problem behind this is they choose to sell something that has way too much competition like electronics and clothing and not knowing where to source their items. Another comment lament is the recurrent seller fees, listing fees, end of auction fees and other miscellaneous fees.
I have several ways to tackle this problem and that is:
- Find the right suppliers and wholesalers for your business
- Get to know you competition and find items that have less competition
- Learn from people who have done it before. Check out this interview here.
- Search for eBay alternatives.
Would eBay make a decent income for you?
YES.. Setting up your own eBay business can either mean selling other people’s goods or selling your own. Either way you need to invest in items, materials or time before you can sell. The next step is to understand your competition and see if eBay is really the best place to sell things. These days, the best method is to sell on multiple auction sites. All this sounds easy but doing all of it is hard work. Some auction sellers take 6 months to find just the right thing to sell.
It will certainly make you quite a good income, even better than freelancers if you know what you are doing. If your business is on a roll, you can easily make 6 figures a year!
Coaching Service Or Mentoring
Private coaching or mentoring can be a very lucrative area to make money. If you are an expert in an area, it is good to think about coaching someone privately and one to one. There aren’t that many people who offer private coaching outside the IM or MMO niche but there is a great big hungry crowd from other niches who crave the need to know or learn something. I know of some coaching services that charge up to $200/hr or some for just one session. I guess the price you charge is a matter of personal preference and the level of expertise you have.
Another method of doing this is to offer coaching series i.e a 10-part program to niche websites selection. Some people are willing to pay for this rather than go through the entire course themselves.
This method is a fairly advanced way of making money online with REAL hard work (once you’ve got all the essential parts of your business running) but it certainly can help you earn a very decent amount on top of your current earnings. You should consider the time you have for doing this and not stretch yourself too much.
In my previous article on utilizing old articles for informational products, this is a great big area to make money. If you know what you are doing, it is a treasure trove of wealth waiting for you to open it. Informational products or eBooks are always going to be in demand simply because they will always be people looking for a solution to a problem or a method of doing something. Anything to do with the health industry, hobbies or specific niche interests are great areas to make money from.
The difficulty here is to:
- Find the right information products to sell
- Do your niche research, narrowing it down to something very specific like vertical jump training
- Creating the informational product itself (not that difficult if you know a lot about it, the pain is to write it!). You can outsource this step too.
There are also heaps of methods to make money from this area for example
- Create a PLR eBook
- Create a Membership Website
- Create an Affiliate Product
- Create A Niche Site
- Create an iPhone/iPad or Android app
- Start your own podcasting site
- Start your own videocast
- Create a Membership site
This list is non-exhaustive but you get the picture. But as you can imagine the difficulty is to find the time to package the information together and then make money from it.
How much can you earn?
You can really earn a significant amount of money and with all the hard work put in, it is a very rewarding process.
Niche Website Creation
Creating niche sites is one of my latest craze now. You might have seen a few articles here on how I setup my niche site creation process (briefly) on 2 previous articles here. You can check it out.
The thing about creating niche sites is that you need to spend the time finding the right niche. Choose the wrong niche and your whole site will most likely fail from the start. You will also need to ensure that your site ranks well on the search engines. The entire process of creating one might not take long especially for an Amazon site but if you are hardworking and love to create content from scratch, then it will take longer.
For monetization purposes, you can do a combination of Amazon products, Google Adsense, Chitika Ads or even Clickbank products. But be careful not to have too many distractions on your sites as things like affiliate products or amazon products can easily make you more money than a couple of cents from Adsense.
Will niche sites make you a lot of money?
Yes. But you need to have quite a number of these sites and good traffic getting there. You also need to have a site that converts well. Some of my niche sites convert better than others. Some have lots of traffic but convert poorly. There is also a learning curve with these sites but I can say that it is easier to set them up than creating membership sites and to a certain extent, information products too.
WordPress Themes and Package/Bundle Products
Let me explain, package products are products like Thesis themes, Woothemes, Headway Themes, landing page design generator, squeeze page templates, membership site generator, membership site plugin etc. There’s a whole range of products that people sell because there is a demand for it.
The whole reason why people go for those products is because they need to have them. There will be businesses or marketers who will need WordPress Themes, squeeze page templates, membership site plugin, premium WordPress plugins and a whole range of other things for their businesses.
How do you make money from them?
You either choose to be an affiliate or you create them. The amount of money you make as an affiliate depends on how you promote affiliate products. If you see a need for a plugin or some software then you can either create it and sell it or hire a programmer to do the job for you. Of course doing this, will incur some risk and investment from your part and there’s no way of knowing if your plugin idea will see the light of day until you start doing it.
Personally, I’ve been doing the affiliate way and have found it much easier but having a product of your own gives you the name and recognition. Regardless of which methods you choose to make money, there is a lot of room for this kind of business. But you still need to put in effort to promote them. There are hundreds of ways you can choose to do this but success varies. But it is definitely possible to make quite a lot of money from this.
Finally.. this list is not so complete yet. As you can guess, there are heaps of other ways to make money online. But let’s start with this list first.
Do you need help with Starting A Wordpress Site?
Then...use Thesis just like the pros around. Even if you are not a pro, Thesis has a great supporting community and forum to help you with questions on how to use Thesis. Finally, if you need access to resources that I use for my business online, check out my resources page. You will find goodies and gems that might help you as well.