Four Different Ways to Approach Making Money Online

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When it comes to generating a full time income using the internet, you have a multitude of methods. I’m going to give a brief overview of just some of the options that you have.

1.) Promote Products as an Affiliate

This has to be one of the most common ways for people to start their internet marketing career. As an affiliate marketer you don’t need to create your own products or provide customer support.

The downside to this is that you will constantly need to look out for new opportunities to promote as conditions change. The affiliate program may fold over, you may not get paid for whatever reason.

I think the biggest drawback with promoting a product as an affiliate is that you will be building someone else’s business. Now if you were building a list however, then you can leverage that list to launch a competing offer to the affiliate product you’re promoting. If you’re sending traffic to an affiliate offer, then you should be able to gauge the conversion rate of the product. Just create your own product and offer affiliates a higher payout.

2.) Launch Your Very Own Product

Launching your own product requires more work but the efforts are multiplied by a great factor. Now you can set up your own affiliate program and recruit affiliates to generate sales for you. You don’t have to pay them until they make a sale so it’s free advertising.

Many people shy away from creating their own products because they don’t know what product to create or they’re afraid their product will not be good enough for the market.

Here’s an easy little way to generate a product idea.

Create simple little software and sell it for a low price. If it’s your first product then it’s ok to start small. You can leverage on the success of your first product to create bigger and better products.

To get ideas for software programs, just look at software that’s already in the marketplace. You want to look for simple software, not something overly fancy. Go to a software directory such as downloads.com and see which types of software are being downloaded and getting good reviews. That site will give you those stats.

Now go to a freelance programming site such as Rentacoder.com and post a project. Rentacoder and other similar sites work on a reverse bidding process where the lowest bidder may get the project. Be very detailed on your project specifications and make sure to only accept bids from someone with a good feedback.

Once you have the software created, list it on the free software directories found online. Downloads.com is just one of those types of directories.

3.) Build & Flip Websites

A website in the information age is a valuable asset that can be created and then sold to an investor. You don’t need to create flashy 100 page websites. Just create a 10 to 20 page website focused on a specific niche. Make sure that the content is of decent quality.

What you’re going to do is build the website, generate a little traffic and revenue for it and then sell it in a few months. Many baby boomers are looking to supplement their income and work from home. They want to go the easy route and just pick up an already proven and profitable website.

A general rule of thumb is that a website which generates about $5/day in income should be able to fetch you $1,000 when flipped. Here’s what I would do to get a brand new website to that income level.

I’m going to use Adsense as the monetization method simply because Adsense is the easiest monetization method. Just paste some code on your site and you’re ready to go. No need to write good sales copy or reviews.

You’re going to choose a niche in which there are high paying advertisers for Adsense. There are some niches which will pay over a buck per click on Adsense. The way to pick those niches is to target high cost products. Examples are finance niches, and medical niches. Plastic surgery would be something I would try.

Now create a website in that niche, place the Adsense on the site and then promote the site using article marketing. Create 5-10 articles and submit them to Ezinearticles.com, ArticlesBase.com, and personally contact other webmasters to have them syndicate your articles. These articles that you use for syndication should be of higher quality than the articles which you use for your site content because the articles should be good enough for people to distribute.

Make sure that you include Google Analytics code on your site so that you know which keywords are generating the traffic for the site. In a few months time, you will use the traffic stats as proof that the site generates decent traffic. You will be able to sell your site more easily.

4.) Domaining

This term is referred to when someone buys a domain and sells
just the domain to someone else for a profit. There is a group
of people successfully doing this up to today. You would think
that all the good domains have been taken already. That’s just not the case. Every day, domains expire and they’re grabbed up by investors. They use special tools to evaluate the value of a domain before investing.

I’ve dabbled in domaining here and there with a small amount of success. You must remember that the overall profits from selling your portfolio is what should be considered. Let’s say you sell a few domains for a loss. The domains that you sell for a profit should wipe out your losses and generate an overall profit for you.

Those are just some ways that you can make money using the internet. Of course they are not the only ways to generate profits online. Whatever route that you choose, the most important factor is to do a lot of things. Some things will work out and some won’t. The more actions you take, the more likely you will find something that may be a hit and send you on your way to financial freedom.

Feel free to comment and let others know what’s your preferred method of generating income online.