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Saturday, May 29, 2010

Online Business Ideas & Plans, Ways To Make Money Online

Ways to Make Money Online

The idea of making money online is attractive to many,

primarily because of the benefits it offers. Two main incentives

are motivational factors here: Thelucrative potential of

the internet as well as thepersonal freedom that comes

with working without a fixed schedule or geographic location.

One doesn’t need to suffer through monotonous day jobs

which offer poor returns for the time invested.

Indeed, why make $7 an hour selling coffee behind a counter

when you can easily earn the same amount by spending

10 minutes to write an article on your blog?

Even if you’re not looking to work full-time at home,

the internet offers a viable source of money which can help

to supplement your regular income.

A basic search on Google will reveal many ways to make money online

and most of the websites listed in the search results pages

all seem to focus on the same methods of making money.

I thought it’ll be a good idea to categorize and compile a list

of the online money making methods available so that future

visitors to Dosh Dosh will have a reference point which provides

them with all information they need.

This list uses a rather broad categorization, which I believe covers

most of the ways to make money online. More methods and

examples of how to make money online will be added to this list,

which can be considered a work in progress.

1. Set up a Blog or Website for Profit

    One of the best ways to make money online is to create a
    website or blog which allows you to earn money from the
    display of advertisements or the sale of products and services.

    There are many different types of money making blogs which

    will help you to make money and you’ll need to pick a model

    that suits your interests, schedule and skill levels. A simple

    no frills blog will allow you to easily pull in at least several

    hundred dollars in a month through the use of

    paid blogging websites alone.

    For more information, check out Dosh Dosh’s archive of articles

    on how to make money blogging. Apart from blogs, other

    websites can easily help you to generate passive income as well.

    These can range from e-commerce websites, social communities

    and information portals to basic landing pages for affiliate

    programs.


2. Learn about Affiliate Marketing and The Art of Selling

    This involves promoting a specific product or service and
    earning commissionswhenever the referred user makes
    a purchase based on your recommendations.

    Affiliate marketing is a big and profitable industry that covers

    a wide spectrum of topics and fields. If you’ve got an interest

    in fitness, you can make money promoting fitness videos or

    courses. In terms of fashion wear, you can earn commissions

    by recommending friends to clothing or

    t-shirt companies with affiliate programs.

    The amount of money you make depends on what you are

    selling. Done correctly, affiliate marketing is one of the most

    powerful ways to make money from the web.Amazon,

    Commission Junction and ClickBank are three of the biggest

    affiliate marketplaces you can use if you’re branching out into

    affiliate marketing.


3. Start an Online Business

    Starting your own online business or company allows you to
    make money off the provision of specific services or products
    you may have. Some examples of popular online trades
    include web design, copywriting and internet marketing.

    It isn’t difficult to start a business. It’s all about hiring the

    right people or having enough knowledge and connections

    within a specific industry. You should do some in depth

    research before you decide to settle on a specific niche for

    your business.Entrepreneur.com has a good collection of tips

    on how to start an online business.


4. Try Out Domaining and the Online Real Estate Trade

    This is the business of buying, selling, developing and
    making money from domain names. A domainer purchases
    many domain names and sells them to interested buyers.
    This is similar to real estate investing offline and domainers
    also make money by developing websites and reselling
    it to a buyer.

    This practice is known assite flipping and can make you

    a tidy sum of money if you know how to build an attractive

    and profitable website. For a rough estimate of how

    much money you can earn from site flipping, check out the

    SitePoint Marketplace to browse through the collection

    of websites for sale.


5. Participate in Get-Paid-to Websites

    There are hundreds of websites out there which you pay
    you to read emails, do surveys, sign up for trial subscriptions
    and surf the web. Websites that pay you to complete offers
    are worth examining because they usually include affiliate
    programs with recurring commissions to be earned.

    The benefit of get paid to websites is that you don’t need to

    have your own website or any personal skills at all.

    The downside is that there are a lot of get-paid-to scams

    around and finding websites that are legitimate can be fairly

    difficult. Scam.com is a forum you should visit to learn if the

    get-paid-to website you’re interested in actually pays its

    members.

    There are also several Web 2.0 or social media websites out

    there that will pay you to participate in their community.

    This collection of social media websites usually operate via

    a revenue-sharing system, which allows you to earn a share

    of the overall ad revenue. How much you earn depends on

    how much your submitted article, video or image is viewed.


6. Find a Virtual Job or Make Use of Your Expertise

    Not only limited to data entry jobs, online jobs in
    the new economy include virtual assistants, gold farmers,
    online life coaching and support for open source software.
    Mini consultation networks like Bitwine and Ether allow
    you to easily set up shop and offer advice on specific topics
    through the web.

    Most of these virtual jobs involve direct communication

    through electronic mediums like internet telephony,

    instant messengers and emails. Which means that all you

    need to get started is a home computer with an steady

    internet connection.

    If you are an expert in a specific topic, you can offer consultation

    via websites like Jyveor Just Answers. Other skill or knowledge

    based vocations also include participation in online competitions

    in areas such as photography, writing, designing and

    even gaming.


7. Freelance and Work on a Contract Basis Online

    If you have a skill such as web design, programming or
    copywriting you can offer your services online in exchange
    for money. Traditional freelancing jobs include transcription,
    proofreading, translation services on top of the ones already
    mentioned above.

    Online marketplaces that you can use to offer your services

    include Guru.com andElance. One of the best ways to find

    freelance jobs is to visit webmaster forumsbecause webmasters

    usually require a variety of web-based services, which range

    from programming and content writing to design work.

    If you’re focusing on writing if don’t own your own blog, you

    can still make some money by registering for websites which

    will pay for your content. Another alternative is get paid to

    write for other blogs either as a staff or guest writer.


8. Create Your Own Product and Sell it

    Products you can create include website templates, sound
    clips or even your own ebook. Websites like Lulu allow you
    to easily develop and sell your own collection of electronic
    products like calenders, brochures, artwork, images and
    ebooks.

    If your specialty is images and photography, citizen journalism

    websites like Spymediaand Citizen Image will pay for your

    images. You can also try using Shutterstock, the most established

    and lucrative micro-stock photography website. Illustrators

    and videographers are also welcome at Shutterstock.

    This also ties in with the concept of creating your

    online business, which will allow you to sell the products

    you create or own without resorting to a third party website

    which will usually take a commission of the sale.


9. Get Involved in the Online Retail Trade

    Ebay and Craigslist are the two of the most popular websites
    you can use if you are planning to get into the online retail
    trade. You can purchase products from either website to
    sell to the other.

    Alternatively, you can specialize use site-specific methods of

    participating in the online retail trade. For example,

    Ebay dropshipping and arbitrage is a method whereby

    you’llwith offline retailers or exporters in other countries,

    or buy from one seller and sell to another.

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