Make Money Online
When it comes to generating passive income, there are many ways to achieve this, however making money online is one of the easiest, and it’s something literally anyone that knows how to use a computer can do.
How do I make money online?
There are a number of ways to make money online. Some don’t even involve you having any stock inventory, or even a website, so getting started can be very cost effective and low risk.
In fact, when you compare what you can be making online to owning an investment property, the online option is much less risk, requires almost no capital and usually more profitable, if you know how.
The most popular ways to make money online include:
Blogging is one of the easiest ways to make money online, but you do have to be persistent and patient, as the results are usually not instant. Blogging is recommended for those that have a passion about what they do or can provide, rather than just the financial reward.
The concept is simple. You set up a site, write articles on information people might find interesting, such as stories, tips, product reviews, etc which drives traffic to your site.
To monetize the site there are a couple of options, including:
- Run paid banner advertising in the site.
- Paid Advertorials or reviews
- Affiliate income. Read the next line about affiliate marketing
Affiliate Marketing is simply selling someone elses’ products and you make a commission on every item you sell. The merchant provides you with a unique link to track your sales, you add that to your website and when someone clicks the link and purchases the product you receive a commission! One of the simplest and effective forms of making money online.
Selling your own products
If you have your own products to sell you can sell them a number of ways, from creating your own e-commerce website, through to selling via Facebook or an ebay store. The upside is you get to set the prices and you earn a higher revenue than affiliate products, but the downside is you also have to manage customer service, returns, etc.
Drop-shipping is ideal if you want to sell someone else’s products under your own store. The process is relatively simple: You add the products on your site and set the prices. When someone buys the product you get paid, and you then pay the Dropship company. They then package up the items and send them to the customer, often with your own branding on the packaging.
Selling your Services online
We all have skills that others need. You can use websites such as AirTasker or UpWork to offer your services locally or to the entire word, freelancing yourself out for simple tasks through to long term opportunities.
Share your knowledge and earn big dollars by creating an online course or membership site. This is a great way to earn a premium and passive income. Of course there is a lot of setup at the start, and ongoing marketing, but the financial reward is great.