4 Ways to Earn Money Online
There are 4 ways to earn money online:
- Sell other peoples stuff
- Sell your own stuff
- Provide services for others (freelance writing is one example)
- Provide Advertising space
The most common way for beginners to make money is advertising. They create a website and put some Adsense Google ads then sit back and wait for the money to roll in. Of course it frequently doesn’t work that well so they start to ask ‘How can I earn more money?”
The Secret to earning more money isn’t selling, it’s solving problems.
It doesn’t matter how wonderful you are or how pretty your website is. If you aren’t solving a problem or providing value you aren’t going to make any money.
- Step 1 is to figure out a problem.
- Step 2 is to find or create a solution.
- Step 3 is to market that solution
- Step 4 is to make money.
It really isn’t that hard to find a problem that needs a solution. It doesn’t have to be a big problem and you don’t have to create the solution. One example is a problem common to long distance runners. Clothes rub and chafe and it is very painful. There is a product called Body Glide that eliminates this problem. If you happen to be a runner and already have a group of friends who also run you could create a website that compares body glide to other similar products, makes a recommendation and then sells the product you recommend.
Take a look at your life, your hobbies, your work and the people you enjoy being with. If you give it some thought you can probably identify several small problems that you can help them solve. Make a list of about 10 different problems and check on sites such as Amazon.com of Clickbank to see what solutions are available. Some of the problems will already have commercially available items that are popular - these are the best items to try and sell as they already have a following and a lot of history.
In the example of the Body Glide the solution already exists. However there may be a problem that doesn’t have an existing solution. This is often true with processes that are difficult. One example that I created a solution is Homework. I have never met a parent yet who didn’t complain about helping their kids with homework. Because I happen to have a degree in Elementary Education as well as 2 children I wrote an Ebook with tips and techniques for parents to get their kids to do homework. I created a website and started selling the book. If you have some expertise or knowledge you can create your own solution. If you don’t there are places like Click Bank where there are many ebooks and other electronic solutions available. Make sure are selling quality items though or you won’t earn more money, just a bad reputation.
In order to earn more money you need to market effectively. This is where your existing relationships are so important. Don’t try to solve a problem for a group of people you don’t know. If you play basketball don’t try to help bowlers. Use your existing online social media as well as your offline relationships to market your solution. People who have built a real relationship with you are far more likely to purchase something you have recommended than people who have never met you or heard of you.
This is one area where you can use your reputation if you have been involved in a particular hobby for some time you may already be considered an expert in the area. If you recommend something people who have never met you may listen based on your reputation. It is essential to only recommend quality products. Someone might buy something once based on your reputation, but if the product is a poor product they will never listen to your recommendations again.
Earning more money is the result of these steps. It is always a good idea to have more than one form of income, even on the same website. You may not always make sales through advertising or even through product sales, but if you combine these options you will definitely make more money overall.
Combining advertising with selling items will guarantee more income than just using one method or the other. It is also a good idea to test where ads and items for sale are placed on the website. The smallest changes in location or even color scheme can make a big difference in the number of times visitors purchase or click on ads.
Don't give up is one thing doesn't work, try something else. A different product, a different ad placement or even a different way to market. Don't be afraid to try something new and keep trying. Earning more money is a marathon - not a sprint and success will build over time.