I’ve talked before about ways to make extra money. Today’s article is going to focus on common ways entrepreneurs make money online.
Hi, my name is Rudy and for the last five years, I’m earning money online. My friends make money online too, and now is your time start your online empire.
Nowadays there’s all this talk about building online businesses but, for the most part, the experts forget to leave out the most important details!
The concept of making money online is ABSTRACT, so how we can sell/do something that generates physical money that buys things like groceries?
Before showing you the ways that successful online entrepreneurs use to make revenue, let me point the exact attitude you need to cultivate to be successful online.
DON’T TRY TO MAKE MONEY
“What? Don’t make any sense.”
First timer online entrepreneur biggest problem is they FOCUS ON THE MONEY.
The problem with that is the internet isn’t a lifeless entity that you can extract money with some sort of code or black magic.
The internet is made of… PEOPLE.
In fact, the internet is a high leverage system of communication. Think about it.
It’s made of YOU, ME and OTHERS BILLIONS.
In the real world, would you ever try to get out money from a person you just met?
No, right? So, why so many first timers try desperately to monetize their website with banners and affiliate links.
Fresh online entrepreneurs should ‘t focus on the money first, but the PEOPLE.
It’s the PEOPLE reading your blog, watching your videos or listening to your voice that is going to PAY for your hard work.
When you ask yourself; “How can I make money online?“.
That isn’t the right question. What about; “How can I engage and grow a committed audience who would buy my products/work?”
With this in mind, the internet is just a different vehicle of communication. You can make money online the same way you make money offline.
The only difference is that internet able you to scale your business much faster than in the real world.
Imagine to sell books in your hometown.
Your buyers are the people living nearby. When your business model is successful, and you want to expand, it requires further investments as well as recruiting more people. In a sense, you are LIMITED.
Online instead, the INFINITE is your limit.
“…So, how are you going to make some green “$” online? …One that will generate a stream of income, allow you to be financial FREE, and live an iNDIPENDENT lifestyle?”
There are seven best ways which entrepreneurs use to make money online:
1# FREELANCING
You have particular set of skills like:
- Designing
- Writing
- Singing
- Coding
Just think for a moment at your current job what skill your employer is paying you for. On the web, there are thousands of employers looking for your set of skills.
Are you great in designing? Build websites.
Are you an excellent writer? Write articles (a good writer can get up to US$200 for an article of 5000 words).
You see, there are many opportunities for you.
“Hey, but where the hell do I start from?”
Good question Pal.
Some of my favorite freelancing websites are:
Sign up as freelancers, check out what jobs or tasks are on demand and figure out what suits you best.
I don’t do freelancing jobs, but Bryce does. He is an experienced freelancer writer running an awesome course for first-time freelancers to help them to get started.
2# SELL INFORMATION PRODUCTS
Maybe you’re an expert in making organic smoothie who helps health-conscious people.
What about make a recipe ebook or video course for your audience? Your audience will love to buy your products.
3# SELL OTHER PEOPLE PRODUCTS RELATED TO YOUR NICHE
You have an engage audience who loves your blog. The problem is you don’t have a product yet.
You can connect your audience with products and services that your audience need for a profit.
Your blog is about online business targeting homestay moms looking ways to make some extra money. It’s just natural to teach them how to start a blog and promote/affiliate your hosting company.
There are specialized companies in affiliate marketing:
- Clickbank and E-junkie are leaders in connecting the creators of e-books and software with affiliates to help sell their digital download products.
- Commission Junction and ShareASale are popular with a wide selection of products from hotel booking companies to garden products.
An example is Matthew Woodmart with his monthly reports. You will notice most of his income is from affiliate products that he promote to his audience craving for SEO strategies.
4# ADS
There are mainly two types of Ads:
1# On your Website; You publish ads on your website, your visitors click on it and you get paid.
I personally think ads are a dying business. The reason is you can’t control the content shown which in most cases doesn’t correlate with your blog. Ads on your website don’t look right.
Furthermore, you need a lot of traffic to generate a living. In most cases, few millions of view.
1# Youtube or similar platforms; Popular performers make a killing on video platforms. PewDiePie, the most famous YouTuber make a whopping US$12 million per year by sharing Ads revenue with YouTube.
5# CONSULTING/SERVICES
You are the merchandise here, people buy you.
What do your friends ask your help with? When you are searched for a particular service or consultation, that means you are seen as an expert.
Write helpful articles on your blog, or make a series of video to solve problems. Soon, you’ll have a following who you can promote your services.
I’m good with websites and investments. My friends ask me to help them time to time.
Few common questions I get asked:
- How to start an online business?
- How to use Facebook to market a mortar and brick business?
- How to invest money over a long period of time?
- Should I buy stocks or bonds?
“So, what you already know that someone would pay you for?”
6# CREATE EVENTS & SEMINAR
Popular online entrepreneurs organize seminars for their audience.
First, it’s FUN!
Second, it’s an excellent way to engage with your audience at a deeper level.
Third, they build trust.
Are you ever been to a seminar?
The expert is on stage preaching to an audience.
However, this isn’t limited to seminars. Matt from NomadicMatt, takes groups of people traveling with him offering a unique experience. And of course, getting paid.
There is a lot of work involved in seminar and event, but the rewards are high too.
7# A COCKTAIL
Most successful online entrepreneurs use a mix of the methods above to make money online.
And why not, multiple income streams are safer than rely on one system only.
For example, a Youtuber might start by monetizing his videos, then create merchandise and other products for fans.
Remember!
There isn’t anything special in making money online. It’s all come down to the relationship you have with your audience and influence to make them buy your products and services.
It’s the same with a mortar and brick business, the only difference is simply the SCALE at which the business can be done.
FOCUS on the people first, help them with their problems, later monetize. It takes time, so be patient.
Got a question? Something to add? Let’s chat in the comments section down below! (I respond to every single comment). 🙂
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