10/16/2017
What Are The Best Ways To Make Money Online?
As someone who's been immersed in a number of online industries for quite some time, I know a thing or two about what it takes to succeed in this arena. However, just like you, I started at ground zero with little knowledge, but a great deal of passion. What I learned along the way were some invaluable lessons from failure that hurt at the time, but helped immensely in the grand scheme of things.
Today, if you're at all serious about succeeding in any endeavor, whether online or offline, you have to deliver enormous amounts of value. Yes, you have to do the most amount of work for the least initial return. This is especially true online. Why? Because it takes time to build authority and create an audience, two primary ingredients necessary to succeed in the wonderful world of commerce on the web.
Every successful business and person has delivered a tremendous amount of value at the outset. They did the most amount of work, and they inspected every detail meticulously, to ensure that they were doing right by their customers. As long as you keep that in mind, and you don't look for a quick buck, you'll succeed in the long term.
Find your niche — Figure out what you're good at or what you want to be good at. You don't need to be an expert right now, but you do need to decide where you're going to fit in if you're at all serious about making serious cash in the long term.
Build a blog on a custom domain — Your blog is your virtual home. Without it, you've no place to filter all that traffic and people interested in what you have to say. But don't build a blog on a subdomain like yoursite.wordpress.com, create a blog with a custom domain like www.yoursite.com.
Always add value — Adding value over time creates authority, and authority breeds trust, which in turn helps to grow your audience and readership. Without a significant following, you'll find it hard to gain any traction online. It simply takes time.
Create an email list and treat them right — One of the best ways to make money online is by marketing to an actively-interested group of email subscribers. While most people think that email marketing is dead, that's far from the truth. This is your greatest potential source of income online. Think of it as your money tree.
Don't sacrifice morals for a quick buck — At the outset, you'll want to do all sorts of things to make money online, but don't sacrifice your morals for a quick buck. Not only will you put people off, but you'll lose Google's trust. You also shouldn't concern yourself with things like Adsense or other ads on a blog before you have around 100,000 visitors per day. Yes, per day.
The point? Think about the long-term results of your activities. It will seem frustrating in the beginning. Then again, everything worthwhile is going to be difficult. It will take time. Stick it out and don't give up. In the meanwhile, here are some of the best and most legitimate ways you can make money online in the short and long term.
#1 — Write And Sell An Ebook
If you have a propensity for writing and you can slay with your prose, consider writing an ebook. While the market has certainly become saturated as of late, books that help teach people about a technical topic still sell extremely well. This is a great source of passive income but does require a large amount of effort at the outset before any money is generated.
You can sell your ebooks through Amazon's Kindle program or Apple's iTunes Connect, which gives you access to a large majority of the digital-book reading market and the barriers for entry are incredibly low. You don't need to invest lots of money to make this happen, but you do need to invest lots of time, not only in writing the ebooks, but in marketing them as well.
#2 — Sell Audiobooks With Audible
I've been in the audiobook-selling business for some time now and have over 3 dozen titles to my name. I know a thing or two about audiobooks. And, what I've noticed recently is that audiobooks are growing in popularity as their digital-ebook counterparts are becoming less and less popular.
People are turning to audio and visuals when it comes to technical subjects. However, you should consider doing an ebook first and turning it into an audiobook through a resource like Audible's ACX platform. You can hire a producer either through a royalty share program, so you don't have to shell out upfront cash, or you can do a pay-per-hour hire as well.
#3 — Create An App
Yes, this is far more technical. Unless you have the right app-development skills, doing this is going to be a significant undertaking. But, apps are also a great source of passive income when done the right way. You can reach a massive audience of smartphone users by building a great app.
However, like anything else truly worthwhile, apps require a significant investment of your time or money upfront. If you don't have the skills, then you have to hire someone who can assist you in creating a great app. But first you need to come up with an idea that will sell. Do the proper market research and analytics to come up with the right app.
#4 — Use Mechanical Turk
Mechanical Turk is Amazon's take on micro-jobs. These are small miniscule-jobs that you can do for other people, which they call HITs, or Human Intelligence Tasks. These are super simple tasks that anyone can do. Some examples are listing off some URLs with certain kinds of images for one cent, or recording a few phrases with a microphone for 6 cents.
Yes, they don't pay much, but if you string together hundreds of well-paying HITs, you can make a bit of money quickly online if you're in a crunch for cash. Also, it's important to note that you can also employ people with HITs to help you with whatever micro-tasks you might have.
#5 — Offer Gigs On Fiverr
If you have some professional experience in graphic design, accounting, social media marketing, web development or SEO training, for example, you could offer gigs on Fiverr starting at $5 per job. You could perform a valuable service that you could also up-sell to make more money per gig.
Fiverr is one of the biggest providers in the gig economy on the web and you can sell a wide variety of services and products through this medium. Do the research and find out what you can offer. However, keep in mind that like any other money-making task, it takes time to succeed here. And stellar reviews will help you generate more and more income over time.
#6 — Sell Professional Services On Upwork or 99Designs
Upwork and 99Designs are two of the biggest resources for selling just about any professional service under the sun. If you have extensive experience in a field, you might want to consider selling your services through one of these sites. 99Designs only applies to graphic design while Upwork applies to nearly every other professional service.
However, like anything else, the beginning will be difficult. Before you have a significant track record and extensive reviews, sourcing work in one of these highly-competitive platforms will be difficult. Find the most successful people in your niche and try to model your approach and online profile after theirs.
#7 — Build A Blog
One of the most exhaustive endeavors when it comes to making money online is to build a blog. But we all know that building a blog with real readership is difficult. It takes a lot of work. And I'm speaking from experience. However, once you reach a certain point, the progress and momentum sways in your favor and it becomes far easier.
Blogs can easily generate tens of thousands of dollars to hundreds of thousands of dollars per month when done right. Yes, that much. But it won't be easy to get there. However, looking back on it, a year from now you'll wish you started today. So why wait another moment?
#8 — Email Marketing
Email marketing is at the heart of every successful endeavor on the web. For those serious about making money online, email marketing is certainly where it's at. But it has to be done the right way. Before you even try to market anything to anyone via an email list, be sure that they're people that subscribed and opted in directly to you.
When you try to market to people via email out of the blue, you won't find as much success. But, if those email subscribers are actively and keenly interested in what you have to say, and they signed up directly through your blog or site, your success rates will be much higher.
