What Are Some Good Ways To Make Extra Money

5 Common Online Business Models Simplified 

Most beginners

Who are new to online marketing tend to get overwhelmed by the sheer variety of

ways one can make money online.  Unfortunately, all money-making approaches are NOT made equivalent. 

Survey Sites, performing microtasks for pennies, etc., are mostly a waste of time and energy.  Whereas other methods such as affiliate marketing, arbitrage, product creation, etc. are very lucrative. 

Knowing Which business model to choose is crucial to succeeding online.  You don’t wantto devote time and effort trying to ice skate uphill.  It’s ideal to go with the 5 proven internet business models below. 

     

  1. Freelancing

If you are on a limited budget, it’s best to start out with freelancing. The fantastic thing about freelancing is that it forces you to master a skill which you can use to create an income online. 

Ideally, your skills must be related to internet marketing.  For example, Digital graphic design, content creation, search engine optimization, video

creation, etc.. 

Visit freelance sites like Fiverr, Upwork, Legiit, etc. to get an idea

of what the popular gigs are.  So long as you have the skills to deliver similar

services, you will be able to make money. 

It may take you a while to gain traction, but sooner or later customers Will hire you, and if you do a fantastic job and deliver the work on time or earlier, you can bet you’ll have repeat customers. 

As you become more popular, you can increase your rates and so on.  The Money you earn from freelancing can be used to fund your other online

companies. 

     

  1. Merchandise creation

Product creation is one of the fastest and most lucrative ways to build

An internet income.  Once again, you may need skills and expertise.  

For example, if you are into fitness or survival or you’re really good at Building niche sites, you can write a book or create a course on which you are good at. 

From there, it’s only a matter of marketing to your niche audience.

While this description simplifies matters a lot, the purpose you need to note is

that creating and launching your own infoproducts or real products is among the best ways to create an income online. 

     

  1. Affiliate marketing

If you don’t wish to create products and deal with customer service, that is understandable.  You’ll likely be interested in affiliate marketing.   This business model is relatively hands-off. 

You’ll be promoting other people’s products and be getting a commission

Every time you make a sale.  There are thousands of products to market on ClickBank, Amazon, Commission Junction, etc.. 

As long as you can drive traffic to the sales pages, a percentage of

Your traffic will convert to sales and commissions for you. 

     

  1. Ecommerce

Ecommerce has seen a boom due to the COVID pandemic.  Millions of people are shopping online and getting used to it. 

In ecommerce, you can either sell tangible products you create or you

May dropship products produced by suppliers with your own branding.  

Another sort of ecommerce is called’Print On Demand’.  In this

Business model, you are going to create designs that will be printed on hats, mugs, shirts, etc..  Websites like Custom Cat, Gear Bubble, etc will create the products

with your designs and ship them out.  It’s a really hands-free process. 

Ecommerce does demand a budget to get started.  You’re looking at

Anywhere from 1k to 4k when you are starting out.  You’ll need to run advertisements and so forth. 

This is a VERY profitable business model when you move on to a winning

product.  There are many marketers making 6-figure amounts with dropshipping/print on demand. 

     

  1. Kindle publishing

Kindle publishing is best suited for those who have always wanted to be

writers and publish their own book.  If you’re skilful, you’ll have the ability to

generate 6 figures in royalties. 

You’ll also need to know how to outsource some of your writing so that

You can scale up faster.  The secret to increasing your earnings is to not only write yourself, but to hire other people to write for you. 

Selling on the Kindle market requires marketing skills too.  It’s

Not about being a good writer. 

These 5 business models are a good place to start from.  If none of them

Seem like your cup of tea, you may research other business models such as

domaining, arbitrage, etc.. 

If you choose a legitimate business model and you’re focused and

Consistent, you will reap the rewards and have an internet business you can be proud of.

What Are Some Good Ways To Make Extra Money

Do I Want a Website to Succeed Online? 

This is a Very common question and can be asked by thousands of beginners that are trying to build a business online.  Before answering this question, it is important to knowwhy it is being asked. 

The answer To this is simple — it seems intimidating to construct a blog or site.  Newbies squirm at the thought of all the’tech’ involved.  In fact, with WordPress and all the plugins available, building a web site is a breeze nowadays. 

If it seems Too formidable, you could even find a freelancer on a website like Fiverr or Legit to construct a website for you for only $30 to $40.  It really is a simple procedure. 

By watching About 10 to 20 tutorials on YouTube (absolutely free), you’ll have a good idea of how to create posts and pages and so on.  It really is simpler than you think. 

Now let’s Look at why a site is essential to succeed online.  Could you succeed without one?  Yes, you could… BUT it will be more difficult and will take you more.  Your chances of success would be thinner too. 

     

  • Establishes authority and an online presence

Having a website gives you a 24/7 presence online and makes you seem

Like an authority in your niche.  Like Jay Conrad Levinson said,”Your websiteis your window of your business.  Keep it fresh, keep it exciting.” 

     

  • Opportunities for passive income

When you have a website, you can replicate it with informative and useful

content.  By sprinkling affiliate links in the content, you will increase your

odds of making passive affiliate commissions. 

You never know who will be stumbling on your Website and reading your

Content and curiously clicking on the links.  Yet, it happens all the time. 

     

  • Reduces your costs

Having a website will help mitigate your organization costs.  If your blog is

Popular, you can have ads on it as well.  These different income generating

opportunities will only be accessible to you in the event that you have a website. 

The extra income you create will help to defray the overall costs in your

Business and keep you in the green. 

     

  • Drives traffic and extends reach

 

A site is also a form of traffic generation.  Individuals who find your website Through the search engine or social networking properties can be led to your sales pages, landing pages, etc.. 

Your Site is not just a hub for your audience to hang out in, but

Will also act as a conduit to funnel them in to your listing or get them on your

sales pages and warmed up enough to buy your products. 

A website is available to people all around the world.  The same can not be Said for videos or social networking sites which may be blocked in some countries.  You have a much wider reach. 

     

  • Helps you construct a list

Even if you do video marketing, you can have a link on your video description To a landing page on your site to capture email addresses.  You can then market to your list later on. 

The same applies to Pinterest, Instagram, etc..  Never build a home on

rented land.  You should always have links from other websites pointing to your

landing page/website so you build your personal list. 

     

  • Aids with advertising

Another point to notice is that a website lends credibility to your

business.  For those who have a YouTube channel, a connected site will make

everything seem more legitimate and assist with your company immensely. 

 

For example, if you run a gardening channel where you always put out

Videos on gardening tips and you have thousands of followers by having a gardening site, you’ll be able to sell books on growing beautiful roses or vegetable gardening hints. 

This is just an example, but you get the point.  You need a website to

Sell your products. 

By now you will realize that it is not an issue of if you need a website, But more of when you are going to build your own website.  Imagine your site to be a piece of virtual real estate which will generate profits and dividends for many years to come. 

Does that sound exciting?  You bet it is.  So, cast your fears aside and

Go ahead and build your online property.  You have online guests waiting to visit it.  Start on it now and you’ll have a beautiful site in a couple of weeks.