Aug 15

How To Make Money With An Online Business

Top Ways to Become a Millionaire

Top Ways to Become a Millionaire

How to make money with an online business seems to be top of mind for millions of hopeful internet marketers.

Learning how to make money with an online business sure topped my list in 2006 when I lost my business, home and livelihood and try as I may could not find a salaried job with the kind of income and benefits I needed at the time.

I had to find a way to make money and to do that I reasoned that I needed to build an online business. Many people are facing a similar situation. Some find themselves unemployed with no job prospects after years in the labor force; others find themselves in a world of financial hurt after the death or divorce from a spouse.  Still others must learn how to make money with an online business to supplement their household or retirement income.

From my perspective the top reason to learn how to make money with an online business is to pursue your own freedom. Regardless of where you find yourself today, I hope this post will help you zero in on how to make money at home with an online business. You can see my recent article on the 4 Keys to Online Business Success here  http://www.streetarticles.com/internet-marketing/4-keys-to-online-business-success

Set Up a Simple Blog Website

If you are looking for a little extra cash to save up for a new car or your next great family vacation, setting up a simple blog site might be just the ticket.  After a few months of posting, many bloggers find themselves earning a thousand or more a month from advertising revenue and affiliate links. But, if you are looking to replace a full time income and benefits as I was, you may need to go beyond the basics of blogging.

In any case, you will need a website.  Please don’t let that freak you out as it did me a few years ago when I was at the mercy of professional web designers and couldn’t afford the price tag.  I have a huge respect for web designers but at the time, I needed to make money quickly and couldn’t spare the cash to get a nice looking website.

Here is another  big piece of advice….DO NOT FALL FOR FREE WEBSITE OFFERS…I’m talking about free blog sites from internet marketing scammers like Empower Network or Brainhost and the HomeProfit System.  Please read my reviews before you get lured into letting these companies build a free website for you.

With some of the reputable online learning universities like Wealthy Affiliate, you can easily build your own blog website and learn how to start making money from home.  Wealthy Affiliate lets you start with a free membership.

Getting Set Up To Make Money With An Online Business

Before I get into listing all the ways to make money with an online business let’s get clear about what it takes to set up an online business. Not all businesses can be operated on line, but every business can be marketed online. If you are a dentist, a hair stylist or a tradesman of some kind, you must have a physical location for your business, but many other types of businesses can easily be operated online as long as you have a website and a way to deliver products and services to customers.

Since e-commerce is at the heart of online business if follows that you need:

  • A merchant account to collect credit card payments

  • A shopping cart software system

  • A secure server

  • Software to process transactions and send appropriate information to all parties of the transaction

Phew! That already seems pretty complicated…at least that what I thought when I began to read about how to make money with an online business. But let me help you out here…if making money with an online business were really all that technical, no one would venture into it and no one except for those very few with a technical background would succeed.

Fortunately some very smart technical gurus figured that out and used that challenge to come up with all the stuff you need in one bundled service and that’s how merchant transaction companies like PayPal and eJunkie were born.

Now that you know you don’t have to be a technical guru, let me show you 21 ways to make money from home with an online business to get you started.

21 Ways to Make Money From Home

  1. Make Money From Home

    Make Money From Home

    Set up an Ebay or Amazon Store

  2. Set up an online boutique store and market your own hand-made specialty items like jewelry, handbags, custom printed clothing, etc.

  3. Set up a virtual store with Volusion or Shopify

  4. Market rentals and houses for sale for a finders fee

  5. Become an online matchmaker and sell subscription fees

  6. Become an authoritative content provider and make money with sponsored ads

  7. Design and flip websites

  8. Buy domain names and flip them; see GoDaddy.com

  9. Become an online sales person and pitch affiliate products

  10. Market consulting services; charge hourly fees for working on specialized projects

  11. Become a Virtual Coach; offer eCoaching services, group coaching or 1-on-1 coaching services to small business owners, executives or people who want life coaching

  12. Write product reviews and market affiliate products

  13. Sell educational services like tutoring or learning to pass certification tests

  14. Become a virtual assistant and work for West At Home, American Airlines or any major financial service company like Charles Schwab or MetLife

  15. Market your IT or writing skills on ODesk, Elance, Fiverr or RentaCoder

  16. Turn your expertise into an online product funnel by creating and selling your own information products such as Reports, Ebooks, Training Programs, Audio Programs. How to Learning Videos

  17. Create and sell software products to assist internet marketers

  18. Create and sell Apps for Kindle readers, iPhones, Smart Phones and iPads

  19. Create a subject-specific Members Only site and charge monthly fees

  20. Become a Reviewer for local businesses and get paid through referral fees

  21. Become a Self-Help Guru and market online seminars, self-help books and inspirational videos.

Final Words of Advice on How to Make Money with An Online Business

something to think aboutPick one of the ways that interests you the most to make money at home listed above and don’t try to do too many things at once. Focus is one of the keys to success with an online business or any make money from home venture. By focusing on one venture, you will be applying the Law of Focus which says,

“Whatever you focus intently on grows to become your harvest.”

Don’t try to be all things to all people. The most successful online business ventures are niched to serve a specific target audience with specific solutions to their problems. Just as you can’t spread yourself too thin and succeed, you cannot possibly be all things to all people. Doing so makes absolutely no sense from a marketing point of view and it becomes a sure path for burnout from an operating point of view.

Get help from someone who knows the ropes. It takes awhile to make money with a new start-up business of any kind and an online business is no different.  Do not be fooled by a slick internet marketer who tells you otherwise. The learning curve can be steep because there are a number of skills to be mastered and strategies to learn. Having a mentor to guide you will make a huge difference in your learning curve. Never be afraid to ask for help.

Got Questions?

Got Questions?

As always, thank you for reading this post.  Please feel free to spread the love and share it with your friends and family. Join the discussion by leaving your comments to this question in the comment section below:

What is your biggest challenge when it comes to making money from home with an online business?

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