Everybody wants to make money online. There are numerous ways to do it however! There are online stores (ecommerce), auctions, blog’s, affiliate marketing, and much, much more.  The problem is figuring out what you want to do, and how you are going to do it. Depending on your skill set your options may be limited, thus limiting your choices of online “businesses” you can try. I suggest initially picking something that you know you can easily master, with a low cost of entry. Preferably, you should also pick something you enjoy doing because it will only improve your projects chances of succeeding.
The most common way to make money online is through an online store, called ecommerce. You either create an original product or purchase a product wholesale to sell on the internet. It’s relatively easy to setup a store through various services such as Amazon’s Prostores, Yahoo Stores or Godaddy’s Quick Shopping Cart, so your store (potentially) couldn’t be hurt by your lack of knowledge or coding skills.
The main problem with this type of venture is the manpower that it will require and advertising costs.
The simple act of creating an online store will not automatically drive business your way, no matter how good or cheap your products are.  You will have to spend a great of resources (money) in purchasing space on other relevant websites and for paid reviews. Don’t forget you’ll also have to respond to customer inquires, and pack and ship items. So the pros here are little technical knowledge required, control over your product, and immediate payout. The cons are high cost of entry $$$ and labor.
Another option is the auction route. You simply auction off your prized (or not so prized) possessions to the highest bidder. The de facto solution here is eBay. eBay requires pretty much zero technical knowledge and is very easy to set up. You can have a listing set up in minutes and pretty much have control over all aspects of its appearance within eBay’s template. The drawbacks here are the fact you would have to have a cheap product that sells high quantities and for high bids to make any real money there. That would require a lot of labor than a online store, but less in advertising costs.Â
The last option I’ll list is the “pro” blogger route. A free blog is pretty simple to setup and readily available – there’s Wordpress, Blogger and LiveJournal to name a few. If you want to host your own blog it would require a bit of technical knowledge, but after the initial setup, the tech knowledge required to maintain it would be very low.
The initial challenge with a “pro” blog is a) getting readers, b) getting them to come back to you and c) increasing your blog’s awareness. – Some people never make it past these initial steps! If you are going this route my advice would be to blog about something that interests you and solves someone’s problem. If fruit flies interest you, but nobody cares about them, you’re screwed if you want pageviews.Â
I’m going to go against popular advice here, so if you don’t want to, I DON’T advise sticking to a “niche”. There are millions of “niche” blog’s out there that you have never heard about. The bottom line is if your interesting and offer value to your readers, you can blog about anything and get hits. Once you build your readership and gain your readers trust and respect, you can extend your “brand” with a newsletter. I suggest adding RSS feeds from day one.  If you know what your talking about and don’t lie/BS your readers, you can easily recommend them to an affiliate that they can purchase from. I believe in only partnering with affiliate partners that offer a product that complements what I good at such as web development or tech or instance. That way when I refer someone it’s relevant.
It’s free to sign up to sign up for an affiliate account with every affiliate marketing company I’ve ever worked with, so you can only EARN with them – there’s nothing to lose.  The problem that most beginners and even experienced bloggers face is BURNOUT and lack of new article ideas. An easy way to combat this is to constantly jot down post ideas as they come or to “mass write” posts when you’re hot and save them for later publishing. The expense with starting a “pro” blog is the advertising - if you really want to get noticed quickly you definitely need to look at some paid ads somewhere or even purchase paid reviews from “top” bloggers. So overall the cons with a pro blog are time (not labor), brain power (ideas) and ad costs. The pros are freedom (you can blog for an hour a day and keep your day job), flexibility and low cost of entry.
Whichever method you choose to make money, they all have their strengths and weaknesses. I chose to go the “pro” blogger way, but I also use eBay and plan on opening an online store in the near future. I would recommend reading up on the various online “moneymaking” venues by reading Wikipedia and checking you’re your future competition and seeing what works for them. Once you have a firm understanding of how the system works, I would art small and grow organically. Because once you’ve found your audience you won’t have time to relax, and that’s a good thing!  Good Luck!
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The most common way to make money online is through an online store, called ecommerce. You either create an original product or purchase a product wholesale to sell on the internet. It’s relatively easy to setup a store through various services such as Amazon’s Prostores, Yahoo Stores or Godaddy’s Quick Shopping Cart, so your store (potentially) couldn’t be hurt by your lack of knowledge or coding skills.
The main problem with this type of venture is the manpower that it will require and advertising costs.
The simple act of creating an online store will not automatically drive business your way, no matter how good or cheap your products are.  You will have to spend a great of resources (money) in purchasing space on other relevant websites and for paid reviews. Don’t forget you’ll also have to respond to customer inquires, and pack and ship items. So the pros here are little technical knowledge required, control over your product, and immediate payout. The cons are high cost of entry $$$ and labor.
Another option is the auction route. You simply auction off your prized (or not so prized) possessions to the highest bidder. The de facto solution here is eBay. eBay requires pretty much zero technical knowledge and is very easy to set up. You can have a listing set up in minutes and pretty much have control over all aspects of its appearance within eBay’s template. The drawbacks here are the fact you would have to have a cheap product that sells high quantities and for high bids to make any real money there. That would require a lot of labor than a online store, but less in advertising costs.Â
The last option I’ll list is the “pro” blogger route. A free blog is pretty simple to setup and readily available – there’s Wordpress, Blogger and LiveJournal to name a few. If you want to host your own blog it would require a bit of technical knowledge, but after the initial setup, the tech knowledge required to maintain it would be very low.
The initial challenge with a “pro” blog is a) getting readers, b) getting them to come back to you and c) increasing your blog’s awareness. – Some people never make it past these initial steps! If you are going this route my advice would be to blog about something that interests you and solves someone’s problem. If fruit flies interest you, but nobody cares about them, you’re screwed if you want pageviews.Â
I’m going to go against popular advice here, so if you don’t want to, I DON’T advise sticking to a “niche”. There are millions of “niche” blog’s out there that you have never heard about. The bottom line is if your interesting and offer value to your readers, you can blog about anything and get hits. Once you build your readership and gain your readers trust and respect, you can extend your “brand” with a newsletter. I suggest adding RSS feeds from day one.  If you know what your talking about and don’t lie/BS your readers, you can easily recommend them to an affiliate that they can purchase from. I believe in only partnering with affiliate partners that offer a product that complements what I good at such as web development or tech or instance. That way when I refer someone it’s relevant.
It’s free to sign up to sign up for an affiliate account with every affiliate marketing company I’ve ever worked with, so you can only EARN with them – there’s nothing to lose.  The problem that most beginners and even experienced bloggers face is BURNOUT and lack of new article ideas. An easy way to combat this is to constantly jot down post ideas as they come or to “mass write” posts when you’re hot and save them for later publishing. The expense with starting a “pro” blog is the advertising - if you really want to get noticed quickly you definitely need to look at some paid ads somewhere or even purchase paid reviews from “top” bloggers. So overall the cons with a pro blog are time (not labor), brain power (ideas) and ad costs. The pros are freedom (you can blog for an hour a day and keep your day job), flexibility and low cost of entry.
Whichever method you choose to make money, they all have their strengths and weaknesses. I chose to go the “pro” blogger way, but I also use eBay and plan on opening an online store in the near future. I would recommend reading up on the various online “moneymaking” venues by reading Wikipedia and checking you’re your future competition and seeing what works for them. Once you have a firm understanding of how the system works, I would art small and grow organically. Because once you’ve found your audience you won’t have time to relax, and that’s a good thing!  Good Luck!
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The Various Ways You Can Make Money Online
Tuesday, 18 November 2008
Tuesday, 18 November 2008
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