The following is a list of methods that I have seen time and time again employed or suggested for the net
Over the years, as I’ve wanted to learn how to become an entrepreneur who can run his own business, I have done research and observed what online companies have been doing to make money. The following is a list of methods that I have seen time and time again employed or suggested for the net.
Make your own product, setup your own service, put physical products you own on sale or a salable package on freelance or perhour website. In any case the core is the same, setting up your own salable good or value for the customer to be purchasable online, then attracting traffic to your website or host that sells your product or service. This is the same as any business, even when not online, as you will learn, if you haven’t already, that the best way to run an online business is with the principles of traditional businesses but with the flexibility of the modern world.
Although this is the first option, it’s not always easy for busy people starting a side business, people who want to be an entrepreneur but don’t have a solid idea/plan or those who have an idea but don’t know how to get it together and want to practice with someone else’s platform or guidance first. In that case I would look to my next suggestion.
This is similar to the first suggestion except instead of selling your own product, you would sell someone else’s products. Many companies large and small offer an affiliate program allowing you to post unique links to purchasable products or services on that company’s website. When a potential customer accesses the purchasable item through your unique affiliate link, when purchasing the item, you will recieve a substantial (often 30%) commission on the sale of that item. For potentially popular yet high priced items, with the proper SEO, website and daily work, the sale could account for a decent side business income which could eventually allow you to transition to full time.
If you are already running an ecommerce business yourself and are ahead of the game, then you should consider setting up your own affiliate program to get more support from salespeople on the ground who are starting side businesses and will work regularly to sell your products and boost your business even further, with you not having to worry about pay until you are paid from the sale of each product.
This method is the method I employed most in my early days of discovering how to make money online. I had found sites like guru.com, peopleperhour.com and even fiverr.com to start hitting the ground running with earning some real money from my work online. This is not my first suggestion but is very doable by anyone who’s willing to give it an honest shot. My first tip would be to learn how to pitch yourself for a job online, and how to properly deal with clients, both for their satisfaction and your sanity.
You have to ensure you have real examples of exactly the same thing (or close) to what the client is looking for already in your portfolio to show when making your pitch. You want to exude confidence like you’ve done it a million times before, yet show care like this potential work is exciting and your willing to do the best job to satisfy the client. At the same time you want to be sure the client doesn’t take advantage of you. I would use peopleperhour where there was an escroll which ensured the client made a portion of their payment upfront.
Besides the above tips, I would suggest pricing what the client expects or is average for that job, or even a bit higher. If you charge too little you will be doubted for quality, if you charge too high it might be hard to sell, but if you charge average, the lcient might have trouble distinguishing you from others, so slightly higher than that says you are going to deliver quality without breaking the bank.
Once accepted for a job you should also be clear in the communication exactly what is being expected of you and exactly what you agree to deliver, when, and how many revisions you’re willing to accept. Get this all in writing, most freelance sites allow you to converse on the site itself, recording all your messages back and forth. Do not allow yourself or the client to take these parts of the discussion off the site, so that if there is a disagreement, you have the convenience of 3rd-party staff from that site to review your communications and decide how payments or cancellations should be handled.
My personal issue with this method of getting an online income isn’t in pitching, getting jobs or doing the work, but in dealing with difficult clients, who can sometimes change their minds on a dime, be very fussy or continuously increase their demands before increasing what they’re willing to pay. This kind of abuse shouldn’t be tolerated, but it can be a difficult balance to see where you yourself may be unfair. One proven way to smooth out this issue is to create a company brand and to work as that brand instead of yourself so that the client feels he is dealing with an establishment which will not easily take abuse. This is a tricky choice however since clients may lean towards individuals over companies in the freelance market because of the added personal touch of such freelancers, but these may not be the clients you want so you need to pick your battles.
You will find that if you do any of the above methods, there is likely in some respect, going to be involved the work of advertising. As an ecommerce professional you may employ advertising or groundwork marketing camapaigns to raise awareness of your product through mainstream channels, online forums, social media, or even out on the street. As an affiliate partner, you would want to advertise your base or yourself as a trusted source for opinions on products in order to get more affiliate customers. You may, on your affiliate driving website or media also want to host ads from other companies to support on per-click basis. Finally as a freelancer or contracter, you very likely to find work in the fields of online marketing or advertising, in any of the respects from writing copy, graphic design, video production, web development, programming, campaign management and more; so the field of advertising is a competitively lucrative place to work either way.
5. Subscription model
As a subset of ecommerce, I thought I should give a mention to the subscription model which you can either setup from scratch on your website or employ the services of available platforms. Patreon is a very popular example for media creators who want to monetize their content, offering early access, exclusive content, credits, personalized items or gestures, etc to their monthly paying subscribers at different levels of payment and rewards. You could also set something up like a monthly membership to your website allowing for access to products which are usually paid-for to be free, and so on, depending on the nature and status of your business.
My final suggestion for this shortlist would be crowdfunding. Unlike you might think, Kickstarter is not the only way to do this. Indiegogo and other platforms are also available, while you could always develop your own custom crowd funding campaign from your own website so that you’re in control of when the money is distributed for the product and under what conditions. Using a trusted platform like Kickstarter however may make it easier for adopters to buy in, but regardless you are going to need to properly research and plan in advance both the production of your project and the campaign to raise awareness on the crowd funding launch as well as the continuous campaign to get funded after launch on top of delivering on your promises once your campaign is over.
I would suggest looking into all the success and some of the fail stories that you can in the field of crowd funding using the most popular platforms and apply the same principles fitting to your own situation on your campaign either using those services or via your own platform. Your own platform doesn’t have to be setup by you alone, it could always be setup in collaboration with others or even by hiring freelancers.
I really hope I was able to give you some of the most important methods and concept to work from and get started on your online money making journey. I wish great success on you and your world to truly improve the lives of everyone you can.