If you are on this page, it is because like most people you are seeking ways and how to create wealth online. I am going to share with you awesome ways to make money online. I know that there are lots of get rich quick schemes out there that fail to deliver.
The following 5 Key strategies are proven and will continuously deliver when implemented correctly.
- Building a Website / Blogging
- Affiliate Marketing
- Retail Artbitrage
Making Real Money online requires due diligence, value creation and perseverance. That is the base foundation. Hopefully, this post will help guide your steps, towards achieving your goal. Let’s kick of with strategy number #1
1. Building a Website / Blogging
Building a website/blogging is a tried and tested way to make money online. Several bloggers have been able to create Six figure income streams by following this approach. I would make one thing clear. This is a long-term approach that requires patience. Did you just ask me something? Did you ask why this is a good idea and how to get started?
Let me first tackle the why, then we can discuss the how. To make real money online requires you to serve an audience. You will be doing this through creating valuable content. As you audience grows you get traffic and down the line, you will be able to monetise.
The second question is how to get started? This sometimes is where most people get misguided. It is relatively easy to get started but requires effort to reach your goal. You need the following :
- A Domain or Sub – Domain
- A Hosting Platform
- Quality Training & Support Community
A Domain or Sub - Domain
This is essential because it is your own private real estate. You need to create your own brand. My recommendation for domain purchase is GoDaddy
You can kick start with a sub- domain. However, I would advise that you purchase a your own domain down the line and convert. This would help you establish your own brand.
A Hosting Platform
You need a hosting provider to host your site on the web. I have listed some suggestions below:
Quality Training & Support Community
As an new starter, this is essential. You need to learn your trade. There are things you know and don’t know. Having access to good training and other successful bloggers played a major role in my development. I know what you might be thinking. Where and how do you find an honest, no bullshit platform that truly delivers. It took me a while to filter the noise. My rule of thump is simple. A good training and community platform, should give you access to the the platform for free, to enable you check out and see if it is worth joining.
Freelancing is a quick effective approach, to make to make money online. It will not make you super rich but it will help your transitional phase. Especially if you are struggling to generate income.
Everyone has something they are good at doing. What are your skill-sets, that you can offer at a competitive price? Are you a good writer? do you understand search engine optimization (SEO), can you create websites? are you good at plumbing, building, designing etc. There is always someone out there, willing to pay for your services.
You need to make your services visible to the online world. There are several platforms that enables you achieve online visibility. I have listed some cool suggestions below:
These platforms are free to join. All you need to do is create your profile detailing the services that you are willing to offer and set your price.
Dropshipping is a good business model used by online entrepreneurs. This approach requires you to build an online shop without having to handle any inventory yourself!
After you find your suppliers, you then set up an online storefront for the products on Shopify or other similar platforms. This is a very profitable business model and the concept is simple. When orders come in from buyers, you facilitate with the suppliers to send the products directly to the customer.
You have low cost overheads and able to operate from anywhere in the world. Your efforts are mainly focused on marketing campaigns. To create product awareness and get traffic to your online store. Like any other worthwhile venture, it takes time to establish in the beginning. However, this model could lead to great rewards. If your service delivery is great and efficient. Creating high quality customer experience is essential for repeat business.
If you are truly capable of managing and facilitating the process. This model presents a win win scenario. Most businesses abroad are open to partnering with a legitimate professional.
4. Affiliate Marketing
Affiliate marketing simply means promoting other peoples products to earn a commission. The process diagram above is explained in my second related article below (Beginners Guide To Niche Affiliate Marketing).
Most modern business favor this marketing business model. For example Amazon, Ebay etc offer affiliate programs. All you need to do is sign up, promote and earn. I have written comprehensively on this Business Model. Please refer to my earlier posts below for an in depth breakdown.
I understand that time is precious commodity. Therefore, I will briefly touch on the relevant parts to the our topic of discussion. Whilst Amazon and Ebay are brilliant affiliate programs. In my opinion, they do not offer the best rewards for your time and effort. Why do I say so? Both of these platforms offer their affiliates around 4- 8 percent (%) commission for each sale. I do not wish to discourage anyone pursing these programs. In-fact, I do have websites used to promote Amazon products. However, there are opportunity costs to consider.
What Is Opportunity Cost?
In Economics the term opportunity cost simply refers to the “alternatives forgone”. Do not worry, I will explain in detail. For instance, It would take you the same time and effort to promote product (X) that pays 10% commission, and product (Y) that pays 50%. You are also probably going to expend the same amount of resources in the process.
The opportunity cost of promoting product (X) is the 50% commission that you could have earned by promoting product (Y). This becomes the “alternative forgone” in the transaction.
Cool Affiliate Products
If you are struggling for product suggestions. I have compiled few cool affiliate products for your consideration. These products are relevant for all market niches. I have used all these products and can assure you that they are legitimate offers that will bring value to your business. I can not guarantee that you will be accepted by all. Some have stringent requirements for acceptance. However, all offer quality value for your time and efforts.
5. Retail Arbitrage
Retail Arbitrage is another fairly simple concept. This requires you to source valuable products mostly from different geographical markets, at a relatively low price. Some of these products would require some sort of uplift (ie repackaging). You will have to facilitate the required product uplift. Arrange for shipment and introduce into intended market at a higher price.
Most entrepreneurs source products from Asian markets (ie China). Taking advantage of the low cost of production in such markets. Repackage and introduce into European markets. The current market trend involves sourcing for products, repackaging and facilitating sale and distribution through the Fulfilled by Amazon (FBA) business model.
FBA is a fast growing awesome business model. All you have to do is source the product. After product uplift, arrange for the products to be sent to the required Amazon warehouse. They will facilitate shipping and customer deliveries for you. This business venture could yield you huge profits, if you source a good product.
These approaches and strategies are used everyday by entrepreneurs to make Real Money online. These strategies are effective but require time, effort and due diligence from you. Great results don’t just happen, they happen because we make them happen!
Thank you for reading, much appreciated. If you ever need a hand or have any questions. Please feel free to leave them below. I will be happy to help you.
I offer 1-2-1 mentoring over phone and Skype to help guide beginners and expedite your path to success. To learn more about my mentoring program. Please contact me using my contact form. Due to other commitments sometimes I am unable to offer this service.
About The Author
Anthony is a UK certified business strategist and consultant. An entrepreneurship mentor and ezine published writer. He embraced entrepreneurship after experiencing an existential awakening. Anthony helps entrepreneurs, aspiring entrepreneurs and small business owners achieve success. You are invited to check out his services page and connect with him via the following social platforms: