The Internet is one of the great democratisers of all of mankind’s existence. It allows us to share information, thoughts and make a living all from the comfort of our own home. We’re focusing on the latter here and looking at some stellar examples of online entrepreneurship.
Providing servers for websites, programs and other things that keep the web running can be a very lucrative way to make money online and one not that many people think of. Take for example Minecraft, there is huge potential for people to make money via Minecraft server hosting with a little outlay. Played be tens of millions and growing in size it provides significant opportunity.
2. Selling Services
For a minimum investment strategy for online moneymaking, you can’t go wrong with letting others make use of your own expertise. Ian Robinson, who edits my own podcast, is a prime example of this technique. He helps tons of different creators boost their production values. There’s virtually no limit to the kinds of different services that can be marketed and delivered online; you just need to figure out what you have to offer.
3. Product Creation And Marketing
You don’t necessarily need to be a service-based consultant to monetize your talents. Any kind of expertise can be converted into a product. You can use books, software, online courses, DVDs — virtually anything that will help others benefit from your experience. Webinars are a particularly effective marketing tool for these products.
4. Affiliate Marketing
Some entrepreneurs like to retain total control of their online work without expanding into managerial pursuits. Affiliate marketing is the perfect way for these individuals to exercise their talents. Nick Reese is an experienced website builder and content provider who generates all of his revenues through affiliate programs. Pat Flynn is a similar entrepreneur, and he’s quite upfront about breaking down exactly where and how he makes money from affiliate programs.
5. Continuity Programs And Memberships
Once you have an attentive audience, it’s relatively easy to develop a steady stream of income from them. Ramit Sethi is someone I really respect who’s done exactly that. His continuity program — Ramit’s Brain Trust — is filled with excited, driven people who are always eager to learn and take advantage of the opportunities he makes available. One of the strongest points in favor of this approach is that it generates continual income off of individual sales.
6. Creating An Advertising Venue
Look no further than Derek Halpern for a shining example of this revenue-building strategy. Starting with celebrity gossip sites and then moving directly into marketing with SocialTriggers, Derek has attracted an enormous following that makes his sites into very desirable real estate for advertisers. Tina Su, who runs the personal development site ThinkSimpleNow.com, has followed the same path.
7. Exchanging Content For Sponsorships
John Lee Dumas runs an extremely successful podcast. Besides reaching a huge audience, Dumas’s podcast also generates more than $50K per month through sponsorship revenue. This model doesn’t apply solely to podcasts, either; sponsorship can work for video blogs, niche sites, and other online ventures. Combine the content you’re most passionate about with strong branding and sponsors who are interested in your audience will take notice.