I think when it comes to making money online, most people make it so complicated, right?
They make it so many steps, and so many business models and so many different strategies and different tactics.
Today I’m going to give you some clarity. So, seven legitimate ways to make money online.
Seven ways to make money online:
Ways #1 – E-commerce
E-commerce on referring to selling, let’s say on Amazon, Shopify, right?
You’re selling a physical product. Maybe you get it from China, you get it from Alibaba even when you’re selling products on eBay, right?
That’s like e-commerce business model. It’s one of the most profitable business models online. However, it also is the one that requires you the most amount of capital and experience.
Now you’re dealing with customer service, right?
You’re building a team; you’re fulfilling the product. You are dealing with the image, the photo. You’re driving traffic through the search engine, right?
You’re doing paid traffic. You are trying to tweak your e-commerce site so that you get more sales, right?
And then you do some affiliate deal, but your margin is usually not very high because you’re selling a physical product on B2C model business to consumer model.
So, what it means is you just sell a lot of volume in order to make any significant amount of money, right?
Way #2 – Drop Shipping
What if you don’t have a product to sell?
What if you don’t have a lot of money, a lot of capital to get started.
Then what do you do. Then drop shipping is another model. There a lot of people making a decent amount of money with this model.
Now with this model, you’re basically working with a wholesaler or a distributor where they have other products and they would do the fulfillment.
What you do, you’re acting like a marketer, right?
You’re driving the traffic through social media, email marketing, your website, you can set up like a virtual storefront where you take the order and then you send the order to a wholesaler or a distributor.
They would ship it for you. Typically, they would charge you money and sometimes they charge you kind of like a handling fee. It would be a $2, $3 or $5 and that’s how you make money. Now your margin is very thin because you’re selling one item at a time.
You must be very careful knowing how much you can spend to acquire each customer to drive traffic. How much you can spend to acquire each visit to your website.
So, your metrics, you must know very, very well because this thing, you could spend a whole bunch of money and if you don’t make those sales, you’re the one that’s taking the risk, right?
The wholesaler, the distributor, there’s no risk, right? They only fulfill a product when you make a sale.
So, as a marketer, as a drop shipping business model, you’re the one that’s doing all the marketing. You must front end a lot of marketing costs and you only get paid after you make a sale.
Way #3 – Affiliate Marketing
The third legitimate ways to make money online, and that is affiliate marketing.
I love the affiliate marketing model. That’s how I made my first fortune on the Internet. My first bucket of gold.
Now, what’s beautiful about the affiliate marketing model is you are acting as a Middle person, right?
It doesn’t require you to have your own product. You can choose a handful of good products that you believe in and you don’t have to deal with the inventory. You don’t have to deal with the fulfillment.
All you need to focus on is being a good middle person to sell these products online and you can test different traffic sources and you can pay traffic or free traffic, drive them to the affiliate offer, and from there, that’s it right.
And you measure and track the performance and then you’ll be able to get a commission check every single month. Even after all these years until this day for the work that I did two, three, five, eight years ago as an affiliate marketer. I’m still getting paid, right?
It’s still provides a niche stream of income for the work that I did so many years ago.
So, I love the affiliate marketing model, but there’s one catch. In order to be a good affiliate marketer, guess what?
You must be a good marketer or you must know what you’re doing in terms of like doing online type of marketing, right?
You must know what is it that you are working on. It is not an easy thing, but it is easier than other types of ways to make money online.
Way #4 – Sell Software
Now, software business is a huge business online. It is a model that is scalable.
If you know what you’re doing and you can see companies making millions of dollars, tens of millions of dollars, hundreds of millions of dollars, and I’m talking about like infusion soft.
It could be active campaign, it could be GoToMeeting, right? It could be an even hosting tracking software, a software that solves a problem in the marketplace.
Now this model, why is it so powerful is because it doesn’t matter if you sell that piece of software to one customer or 10,000 customers.
It is the same product that gets replicated there. Many users can use at the same time, and that’s why it’s such a powerful business model.
When it comes to technology, now you can hire developers. You can hire programmers to develop that software for you.
Problem is our software not done right. You could burn hundreds of thousands of dollars, millions of dollars before getting a return.
If you know what you’re doing, software is absolutely one of the most powerful ways to make millions of dollars online.
Way #5 – Google AdSense
Now, Google essence is an advertising program that allows you to run ads on your website or blog like YouTube videos and you get paid when visitors click on them.
The ads are generated from business that use the Google AdWords account. Now with Google, you need to have a lot of traffic.
Maybe you can create a blog, maybe a stupid YouTube channel, but you need a lot of visitors to make any significant amount of money.
Now, the good thing is it’s free to join, right?
It doesn’t cost you anything, you joy, but the downside is you need to create a lot of content in order to create decent amount of income or to maintain a good income.
I have a friend of mine who used to make a ton of money with Google asset at his heyday. He was making over a million dollars a year with just AdSense and now guest how much his blogs make him less than $30,000 a year.
So, it’s one way to make money online, but it’s not as good as it used to be.
Way #6 – Expert Business
Now, we’re talking about packaging, your expertise, your skills, your knowledge, your passion into a product.
I’m talking about online courses, about training programs or talking about services that you could provide. Maybe you’re a digital marketer.
You are running a social media agency, you are doing any type of programs that enhance people’s business, enhance people’s lives. That’s what I call the expert business.
Way #7 – YouTube
The last legit way to make money online and that is through YouTube. Now YouTube you think about YouTube could put everything together for you.
Let’s say you have an e-commerce business; you could create demonstration videos and upload them to YouTube, in the description, you can drive all that traffic back your eCommerce site.
Then you can do also tutorials teaching people how to use your products on YouTube as well or if you’re in a drop shipping business it is the same thing.
You can have various keywords, different types of videos on YouTube that people are searching for right now.
They watched the video, they like the product and then click the link and they would go to your website, your virtual storefront and buy from you.
When you get an order, you can send that to your wholesaler, and they can fulfill the order for you as well.
And remember. We also talk about affiliate marketing business because the affiliate marketing, it’s so competitive. It’s not just you as an affiliate promoting that offer, that product.
One of the ways you can make yourself stand now instead of just driving traffic to the offer directly in between.
You can drive traffic to the offer directly to your email list where you are educating, informing your potential buyers through YouTube, through videos, through content, building that trust.
Once they want to learn more about it, they click on link and then they could buy your affiliate offer.
You can combine that obviously with YouTube because Google owns YouTube. YouTube is using the Google AdSense platform, the expert business software.
If you want to reach a mass market very, very quickly, you can easily run ads on YouTube and giving away maybe a free trial, the premium model for your software and from YouTube you can see it.
You can reach millions and millions of people just like that. And from there, you can get a lot of users even you want to test out the product, you want to see how people like your software.
That’s one way to do that, and that’s why I think YouTube, if you have a strong YouTube channel, you can combine all these ways of making money into this one thing.
If you have a strong YouTube channel, you will enhance, enhances any of these revenue streams that you have right now.
- Business Ideas You Can Start With Just a Few Hours a Week
- Lessons from the Rich & Famous
- 5 Affiliate Marketing Strategies to You Increase Your Affiliate Sales
- Make Money From Home – 7 Tips to Help You Succeed as an Affiliate