3 Ways to Make Money Online

When one thinks about making money online, one would quickly point out blogging.   Sounds simple to set up:

  • Get a domain name, register it, set up hosting.
  • Think of a theme, write some articles
  • Network a bit, put up Adsense, and the money flows in.

Well, not exactly!  From start to finish, this process can easily take a full year just to start shaping up.

Today we’re going to discuss 3 ways to make money from blogging without actually blogging:

Freelance writing

This involves writing blog posts for already established blogs.  You either take the time to contact established bloggers or they find you through seeing your quality work around the web.

Pros

  • Blog is already setup.  You won’t have to worry about setting about or building a blog.  You’ll be writing articles for a blog that’s already well established and set up.
  • Easy to start.  Anyone can start writing articles.  You will need the essential writing skills.  Once you prove that you can write, you can start making money writing articles for established bloggers.
  • Results depend on effort.  There really isn’t that much luck involved in this process.  If you don’t offer high quality articles, then you won’t land the juicy gigs.  If you put the time in it will show.  If not, then you simply won’t make any money from freelance writing.

Cons

  • Difficult to gain momentum.  It’s extremely challenging to get your name out there.  The reason for this is that we live in an era of super cheap and even free articles.
  • Finding clients.  As mentioned above, there’s plenty of low-cost sources for articles these days.  The most challenging aspect is finding clients that are willing to pay for your services.

Productizing

This process is all about creating a product to sell for the readers of a blog.  It doesn’t necessarily have to be your own blog.  You could create a product for your own blog or the blog of someone else.

Pros

  • Extremely scalable.  A digital product is very scalable.  You create the product once and then your attention turns to marketing this product.  Once you create the product it becomes really easy to scale it.  Your energy needs to shift towards selling numerous copies of the same product.
  • Earn money while you sleep.  Once you setup the whole process (website along with payment system), the rest becomes pretty hands-off.  If you market your product well, you could earn money while you sleep.

Cons

  • Income is very uncertain.  You never know how much you could make (or lose) from the release of a new product.  Just because you have a lot of subscribers it doesn’t mean that you’re guaranteed to sell an exorbitant amount of eBooks.
  • Difficult to market your product.  There’s just a plethora of products available out there.  What makes yours so special? How are you going to impress people enough to purchase your product?
  • Payment setup.  The payment process is a pain to get going.  You must figure out how you will accept payments, pay affiliates, and claim everything on your taxes.  This is enough to turn most people off.

Design work

This is the behind the scenes work that most bloggers don’t want to deal with.  It could involve; designing blogs, back end coding on a blog, creating logos, or any other design/technical work on a blog.

Pros

  • Apply your rare skills.  Many of us are simply horrible at “artistic” stuff.  I could not put a blog logo together if my life depended on it.  This is why I love it when I meet a designer that will simply ask me a few questions and then put together a awesome logo for me.

Cons

  • Collecting payment.  Figuring out how you will collect payments and charge clients could be one of the most difficult aspects of this endeavor.
  • Modifications.  When working with a client on a blog design or a blog logo, you might have to make many modifications/changes.  This involves a high degree of interaction with the blogger.  Are you ready for this hands-on work?

If you have tried any of these methods to make money, tell us how it turned out in the comments below.

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Published in: on March 10, 2011 at 4:54 pm  Comments (2)  

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2 CommentsLeave a comment

  1. As an entrepreneur and avid follower of John Chow, I knew I wanted to read his book when it was released a few weeks ago. I had read his free eBook and wondered if it would be the same recycled content in print version. I’m glad to report that it isn’t.

    John and I have a lot in common. We both got our start online around the same time by creating websites to show off our custom built computers. John went on to find huge success with his site before shifting gears and morphing into a blogging icon. I shadowed John and built a successful tech site that I still run today. I even created and authored a self-titled blog just like John. The stark difference between us is that he found great success with his blog and mine ultimately failed for many of the reasons he lists in his book. Had I known then what I know now after reading this book, I certainly would have taken a different approach with my blog from the beginning and odds are, it would be making more money than ever.

    In addition to just blogging, this book offers a lot of good general information on writing as well as networking and marketing. The two latter categories are just as, if not more important than writing skills. John details how to set up a WordPress blog, which plug-ins to install and how to monetize your blog using several different revenue streams. Once you start making money, you can use techniques discussed in the book to optimize you advertising for maximum revenue.

    The book isn’t limited to the Internet, however. John discusses several offline methods that you can use to promote your blog in the real-world. One key to a successful blog is using every tool available to you.

    Some of the information in the book may seem like common sense but speaking as a failed blogger, methods and techniques only seem obvious once you know the proper way to do something.

    John continues to be an inspiration and fuels the entrepreneurial fire within me. In fact, I registered a new domain name while reading the book and plan to get started on this new project very soon. If he can do it, why can’t anyone else?

    If you are new to blogging or just want to make a little extra money with a blog you already run, I would certainly recommend you give Make Money Online a read.

  2. Hey, Fellow Marketers

    We all know just how stressful it can be to successfully advance when we think about Multi-level Marketing, Online Promotion or, JV’s. One can find so much data out there to drive any one crazy! You can ask me personally, cause I have already been an important part of that human brain melt down, however , at the same time I found some thing which peaked my personal appreciation, and has proved to me and my friends a proven method to financial success. Remember you need to actually stay with what ever program you choose to start. Do not ever pass from one approach to the next or your head is likely to melt! ; -))


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