I am quite often asked, “What is the best money maker online?” If you ask five people that answer you will probably get five different answers. So, I shall give my “two cents” worth.
Some of the best online money makers
Probably the most popular and easiest ways to begin making money online is to get on Ebay. Ebay is a simple post and sell format. You do have to set up an account with Ebay and with Paypal. The Paypal account is to facilitate payment for items that you may sell or purchase. They will usually ask you to verify your Paypal account by connecting it to your bank account or a credit card. These are safe and well protected by the best tools on the internet.
There are competitors with Ebay, such as Etsy and Bonanza. These formats work on a percentage basis. A percentage of whatever you sell your product for goes to Ebay and Paypal for advertising and listing your product and facilitating the payment for the product.
After the auction type of businesses like Ebay and Bonanza there is the type which is called “Dropshipping”. Many online entrepreneurs use this method to sell on Ebay and other auction sites. Many build their own online storefronts and sell through them.
The structure for a dropshipping business is either to use Ebay, or some other auction, as a storefront and advertise products for sale. You do not store or maintain an inventory but you ally yourself with a company that produces and ships the product. The typical structure goes like this: you sign up an account with a given product distributor; you advertise his product on your site; when you make a sale through your site, you receive the payment, then you order the product through the distributor and pay with the money which you have received from your buyer. The product distributor then receives your payment and ships the product to the address and person which you give him. You get to keep the difference between what you were paid and what you pay the distributor for the product. You never physically handle the product. There have been many successful online businesses built on this model. The one drawback would be the time involvement as your business grows. If you are a “workaholic” this would be a great fit for you.
This model is very much like having a standard “brick and mortar” store on main street. You find a producer and distributor of a line of goods that you are interested in and sign up with them. Many of these will even set up your storefront for you and stock it with their products. Of course, this comes with a cost. But, anything that makes you money will come at some cost to you, either through your time or your money invested.
There are many platforms through which this can be set up. Shopify and Volusion are two of the most common. But there are many others.
Probably the most popular and best online money maker is the one which is called Affiliate marketing. Affiliate marketing is sometimes called a passive online money making business. Though it is not by any means totally passive, if set up right it will continue to make you money even when you are not actively working it.
How is that possible?
Just a little background. This form of online business is not an “in your face” type of business. You begin by promoting and “idea”, not a product. This is done through what is called a “blog”. A blog is a website in which you post articles about things and subjects that you are passionate about. It will take a while, but after you build a following you begin to recommend products which go along with your passion.
You affiliate yourself with companies which provide these products and offer a link from your site to the product company’s site. If one of your readers clicks the link on your site it will take them to the company site of the product. When the reader makes a purchase from the company site, the company will pay you a percentage of the sale amount. They handle everything.
As your audience grows, so will the sales that will be made through your site. As the sales grow, so will your income. It usually takes from 6 months to a year to begin realizing real income from a blog site, but once it begins it will grow and grow with just a regular input from you.
The investment in this type of business is usually time and some money. At first, it is more time. The amount of money may vary depending on whom you choose to set up your business site through. There are several out there that do a good job of helping you set up your site and business. However, there are many who will take advantage of you if you are not informed.
If you are interested in affiliate marketing and its potential for making money online, be wary of who you choose to set up your business. There are some good ones, but there are many bad ones.
Do not go with someone who wants a lot of money upfront. Do not choose one that asks for a small amount to begin and then keeps adding more and more to the pot until you have spent thousands of dollars and still have nothing to show.(I know, I have been there). There are some who start out with good information but soon the information stops and you are left to yourself.
If possible choose one that allows you to have a free trial period. I recommend 90 days. They will ask for a credit card, but if it does not work within the 90 days you can dispute or ask for your money back.
There is only one platform that I can with clear conscience recommend and that is Wealthy Affiliates. Wealthy Affiliates provides the best tools and endless lessons on how to build your own online business site and how to develop it into a money making enterprise. It is not a get-rich-quick scheme but is a business structure built on sound business practices.
Another good thing about Wealthy Affiliates is that you can try it absolutely “Free”. Yes, “Free”. No credit card registration. With the “Free Membership” you get 10 free lessons and learn how to build your own website. Of course, to build your own website you will need a website. For this they will give you two free websites which they will host for “Free”. If at anytime you decide that Wealthy Affiliates is not for you, just do nothing. But you get to keep the two free websites.
If, however, you decide that Wealthy Affiliate is the place for you, you can upgrade to a Premium Membership and the thousands of tools made available to you through your membership. Check the chart below to see some of the benefits you will receive.
I encourage you to check out Wealthy Affiliate and build your own online business.
Enjoy the adventure!
I would love to hear what you think about what I have shared. Please leave a comment below. You will get a response.