Looking for secure and reliable ways to make an income online?
Then you have come to the right place!
If you’re just starting your search, then you are in luck, as I will save you a lot of time and money if you read this page first.
Do Your Homework
There are many online income success stories but many people still fail because they have not done their homework first, or even identified what exactly they are trying to accomplish.
For example, have you asked yourself the following questions?
- Are you looking for a job that you can do online by working for someone else and getting paid for your time or are you looking to start an online business that is scalable and allows you to generate an unlimited amount of income?
- Do you have any technical skills, business skills or any other skills that can be delivered online?
- How much time can you dedicate to this endeavor?
- How much money do you have to get setup and started?
Your answers to these questions will help you identify which route you should start with:
- Employee: Working online for someone else offering services
- Freelance Contractor: Working with multiple clients on a variety of projects
- Online Business: Offering a variety of products and services to a larger audience
Options one and two are services based. That is where you trade time for money. Option three is more scalable as it allows you to sell multiple services and products, even if you are not the one delivering these services or creating the products.
Know Your Online Business Options
If you do a search online for the term “make money online” you’ll find a long list of blog posts, articles, books, e-books and video training programs listing hundreds of ways to make an income online. But when you take a closer look, you’ll find that eventually they all fall under four main categories:
Selling Services: Make money as an employee, freelance contractor or services-based business. This includes any projects that require active participation on your part.
Selling Products: Make money by selling products—either physical, digital or information products.
Affiliate (or Referral) Marketing: Make money by promoting other people’s products and services and growing your business by allowing affiliates to promote your products and services.
Licensing: Make money by selling other people’s products and services as if they were your own or allowing others to license your products, inventions and ideas so they can use, promote and sell them while you get royalty payments on each sale.
Ideally you would want to be tapping into more than one method so you can build multiple streams of income. When one area is not delivering well, you’ll have other sources of income to keep you afloat.
But we all have to start somewhere.
So pick one and go with it first. Once you master it and know what you’re doing, you can add more.
Now, which one you choose first will depend solely on your personal circumstances, current skill sets, resources and the lifestyle goals you want to achieve.
There are many services that can be offered remotely online… like business and office support, accounting and bookkeeping, marketing, graphic design, app and web design and so on. With services you are generating an active income, which means unless you are working, you won’t get paid.
In chapter three of my book Pajama Paydays, I go into a lot of details on how you can:
- Get Paid For Your Services Online
- How To Migrate Your Current Job Online
- How To List Your Services Online So Paying Clients Can Find You
- How To Stand Out And Survive In A Crowded Marketplace
- What Services Are In High Demand
- How To Create Your Own Job By Offering Solutions
- How To Increase Your Rates By Increasing Your Value
It is critical that you know your options and how to stand out as the competition for services is fierce. With quick and global access to the internet, candidates from India, The Philippines, Bangladesh and more are all competing for the same jobs now.
As they live in countries with a lower cost of living they are willing to get paid a much lower hourly rate than you might be willing to accept.
In chapter three you will learn how to stand out.
Selling products online opens a BIG DOOR for you if know how to implement it well. This can apply to any products that you develop and produce or products from other companies and suppliers that you buy and sell for a profit.
Many people get stuck on this part, as they are not sure what to sell. They can spend years trying to find the right product, or designing and creating a new product from scratch that they are not really sure if anyone will really buy.
Developing your own product or buying inventory to sell will require an investment on your part and will also require someone with a business mindset to ensure success. Unless you know what you are doing and have the money to get started, I highly recommend you leave this option till last.
Chapter four of Pajama Paydays covers critical details that you need to know before you start selling products online and how that can generate passive income for you. You will learn the difference between making your own products, or using a manufacturer, wholesale or drop shipping. You will also learn:
- What Types Of Products You Can Sell Online
- How To Tap Into The Information Product Business
- How To Tap Into The Digital Products Business
- How To Tap Into In The Physical Product Business
- Unlock the Door to Riches
Another way to tap into selling products with limited risk is to use the Affiliate Marketing online business model. With affiliate marketing you can get a commission for products or services that you promote and you don’t have to deal with product development, storage, payment processing or shipping and handling. All you have to do is send prospective buyers to a specific offer and if they make a purchase then you get a commission on the sale.
In chapter five of Pajama Paydays you will learn how to add Affiliate Marketing to your online income mix. You will also learn:
- Advantages and Disadvantages Of Affiliate Marketing
- How To Increase Your Profits With Affiliate Marketing
- What Is High-Ticket Affiliate Marketing And Why You Need to Know About It
Some affiliate programs offer monthly commissions on continuity programs which allow you to generate residual income. Make sure to add affiliate marketing to your online income strategy!
Licensing is a great option that allows you to tap into existing products, systems and processes and build passive and residual income for your online business.
In chapter six of Pajama Paydays you will learn about:
- Private Label & White Label
- Online Franchises
Keep it Simple
When you are new and starting out, keep it simple and focus on your areas of strengths. That is why chapter two is all about you. Through a series of exercises you’ll get to figure out what type of online income model you should start with. As you progress in knowledge you can expand and add additional sources of income.
In chapters seven, eight and nine you will learn:
- How To Automate Your Income
- How To Earn While You Learn
- How To Use Leverage To Your Advantage
- 5 Key Elements To A Successful Online Business
- What Business Model Top Online Earners Use
- How To Avoid Scams And See Through The Hype
- How To Start On A Limited Budget
Get a copy of my new book Pajama Paydays: How To Make The Internet Work For You as it will help you understand all four income models more thoroughly and how you can incorporate an active income, passive income and residual income online.
By the time you are done watching the videos, reading the book and completing the 90-day action plan, I am confident that you will know more than most people about how to generate and income online. But most of all, how to do it in the best way that will work for you!