Four Ways to Make Money Online
The many ways to make money online generally fall into one
of four basic approaches. They are outlined below. With our own
internet business, my wife and I have had the best luck with
the last two. Each of us is different,however, in abilities and
interests, and each of the basic ways to make money listed here
has its advantages and disadvantages, so here they are:
Online Employee
You can probably learn to write well enough to get paid for
online use. Companies need constant new content for their websites
and blogs and email newsletters. The pay ranges quite a bit depending
on the quality of your writing (and your ability to properly
optimize articles for search engine exposure).
You could also be hired as a programmer or web-designer if
you have the necessary skills. Customer service employees can
operate online from home too. Every year there are more potential
jobs that allow you to work online from the comfort of your home.
The primary advantage when you make money online as an employee
is getting a regular paycheck. But what about the disadvantages?
They are all the same ones as those of being an employee anywhere.
Pay is ultimately limited by the number of hours you can work,
you probably won't get to set your own schedule, and you never
know when you might be replaced or laid off.
Online Independent Contractor
With the skills to work online, you can be your own boss -
or at least choose the jobs that fit your talents and schedule.
There are sites like Elance.com and others where businesses post
projects they need done. Anyone can offer to do them for a price
they think is fair. I recently hired a American living in Malaysia
to write a hundred one-paragraph blog posts, which I used to
promote my websites. I can't say for sure, but I would guess
that the $200 project took him two days.
One of the advantages of making money online in this way is
that you can do it from almost anywhere in the world. Another
is that you choose when you work. When you want a week off, you
just don't offer to do any work for a while. You have a lot more
freedom than an employee. And the disadvantages? Because you
compete globally, so you may not make any more income than an
employee. Your income will be unpredictable as well, based on
what's available during any week or month.
A Business With Customers
It's possible to make money online in many of the same ways
it is made outside the internet. I have friends who sell camera
equipment and laminating machines through websites, for example,
and almost anything can be sold on the internet. Many people
sell services as such as web design or copywriting (sales pages
and letters). It is also possible to combine offline and online
businesses in various ways. An office cleaning service can be
promoted online, delivered offline, and can also sell associated
products online.
There are certain advantages to selling goods or services
online. You can start small and at home in many cases, thus allowing
you some more freedom and less risk (low overhead). A disadvantage
to selling and shipping things is that you have to be at work
to do that, unless you grow large enough and have profit margins
that allow you to hire an order fulfillment company or employees
that you can leave in charge. You also have to check email daily
and deal with customers (or hopefully hire that out).
In Business Without Customers
All businesses have customers, but it isn't necessarily the
same when you make money online with informational websites.
You can create a website writing about exercise or dog training,
for example, and post ads for which you are paid for each click
- or paid a commission on sales of some product you refer visitors
to. Of course, the pay-per-click advertiser, or the company you
send affiliate sales to is your customer, but it really isn't
like having a customer across the counter or on the phone. We
placed ads on our sites five years ago, and we only communicate
with the advertisers by email every year or two. All we have
to do is copy and paste the ads, and the phone never rings.
An advantage of this method is that you can make money from
anywhere, and without having to even check email daily (it is
rarely urgent). When you make money online in this way you have
the most freedom, and you can grow your business to almost any
size over time. Disadvantages? You will probably have to work
harder than ever to build profitable websites in today's competitive
internet market.
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