Tuesday, August 26, 2008

How to Create Income Using the Internet

As someone who makes more than half my income from the Internet, I can tell you that it has a lot of advantages if you're willing to do the work. For most people, it's not something you can just do overnight (it took me 5 years for my Internet income to surpass my job income) but it's not impossible to do either.

1) Getting Started:

If you're brand new to Internet business, I'd recommend starting out in some type of online sales such as Amazon or Ebay just to get your feet wet. You can grow these businesses as big or as little as you want, and they're a great environment to make beginner's mistakes without a lot of risk. Like any business, there's a learning curve to it. Just be patient and learn, and even the average person with no prior business experience can make a nice side income.

2) Try Online Surveys:

These are not bad when you're starting out and want extra money, but the only disadvantage is they do still take up your time. They're very flexible, but to make a decent income you're going to feel like you have another job. I now have this limited to a couple of favorites that pay well and pay quickly. Never pay to enter into these or for a "list" of possible survey companies. That is a scam in the fact you can find the same information on your own.

3) Residual Income Sources:

Ideally, you want Internet income sources that pay residual income. This means you get paid over and over again for a single initial effort. Most jobs don't offer this, and it makes the Internet very appealing.

An example is if you're an expert in a particular field and want to write a short e-book to help people. You only have to write the book once, and if it's popular it can become an income source to you month after month each time it's downloaded. Sites like Lulu.com and others allow you to sell books at no upfront cost to you. They just get a commission every time a book sells.

It just takes some time and experimenting to figure out what will sell. You also have the option of building residual income from freelance writing sites who make money from advertising and share it with their writers. Ehow.com is one of these and is very good.

4) Do More Than Just One Thing:

Overall, to make the most money on the Internet you just need to do more than one thing. Pick some side businesses that you enjoy, and it's really not an extra burden to you. I'm in the middle of repositioning my career to where most of the things I do are online. I like the flexibility and the ability to make more money over time than a traditional job. It does take time and effort, but I think it's worth doing.

More Tips:

  • Legitimate network marketing companies are also an option if you enjoy working in group environments. Just check them out with the Better Business Bureau and make sure you understand how they work. Again, just expect to put as much time into them as you would a traditional business if you want them to work for you. You can make money over time, but it's not overnight.