The vision is clear – you want to be able to earn money through the internet. It’s so much more fun to earn money online from a local Dunkin Donuts than it is to sit in an office for 45 hours a week doing work that especially unfulfilling getting some other guy rich. But where do you start? The internet is large, and there’s tons of ways to earn revenue.
So for those of you who think starting an online store is way too difficult (you’re wrong, but I digress), and want to find another method of bringing in some cash, you’re in luck. Here’s 5 different methods of earning money online that you can start implementing today.
1. Start an eCommerce Business
Building a website and selling things online is easier now than ever before. There are so many tools out there, and you can get started quickly and begin marketing your site and selling. And the best part, is that you don’t even need to store inventory, because you can use methods such as dropshipping to run your online business. There are tools available such as Shopify, BigCommerce, and Volusion that allow you to start your online store in literally hours. They host the website for you, have easy to use templates that you can edit with no technical skills whatsoever, and allow you to start receiving payments. Such little financial risk to get started!
Another form of eCommerce that you can pursue is some sort of consulting, such as web design or SEO, depending on your strengths. I know of many people that travel the world and make a living doing web design for a couple customers at a time to pay the bills.
2. Fulfillment by Amazon
Millions and millions and millions of items are purchased off Amazon every day. And the thing is, most of the time, these products are being sold by individuals through Amazon. So when you go online and buy a pack of deoderant, chances are, you are buying it from somebody like Fulfillment by Josh. Fulfillment by Amazon is a great program for people wanting to get started making money online without too much risk. You essentially buy products that you know you can sell at profitable rates, upload them to Amazon, and ship them out to Amazon’s Fullfillment centers, and they do the rest. Once an item sells, you receive an exciting email that your product has shipping out, and the money hits your account.
3. Affiliate Marketing
When you refer business to somebody else, you deserve a piece of their business. Affiliate marketing allows you to make money off referrals – of course the amount of money is much thinner than selling the actual product. To give you a couple examples of how I utilize affiliate marketing – on Blind Surprise, we like to offer our customers the ability to buy past gifts, if there was something that they particularly enjoyed, If we don’t have the item in stock though, we will let them make the purchase through our vendors website. We sign up with our vendors as affiliates though, so we receive a percentage of every sale that we refer. Additionally, this blog contains many affiliate links. For example, on my detailed post of ‘How to Start a Blog‘ I refer you to resources that I love and use for my blog. If you go through the process of starting a blog with my post, I will receive a commission. Many bloggers earn their income through affiliate marketing.
4. Trading Stocks
Another method of earning income online is through investing. And of course, with all the tools available today, it is very easy to access the stock market through the internet. You can be in a Coffee Shop in China trading stocks on the New York Stock Exchange through Scottrade – pretty awesome. A great book for beginner traders is Live on the Margin. Highly recommend giving it a read, even just to understand the perspective on the life the author demonstrates during the first couple of chapters.
5. Freelance Writing
If you just love writing, and don’t necessarily want to start a blog as a revenue stream, you can take on freelance jobs creating content for other online sources. As an example, I know somebody who writes for About.com and makes about $1,000 per month writing an article a week about women’s beauty supplies. There are all sorts of opportunities out there for freelance writers. The compensation may be minimal at times, and scaling this type of business is very difficult, but it is an option none-the-less.
This list is just a start – there are many other ways to make money online. Nowadays, the internet is the world’s marketplace – you can have a business and connect with anybody anywhere on the planet. If you are selling an eBook or some sort of digital product, you can literally make sales anywhere in the world with no concerns. Think about how much more scalable that is than opening a local retail store in a town of 15,000!
What other methods of online income do you guys use? What crazy methods did I miss?