Lesson 2: Ways To Make Money Online

Thanks for coming back for the first lesson of my blueprint series. Today I just want to cover the basic so that you have a good understanding of online business.

So what are the ways people make money online? Which way you should consider?

1. A Traditional Business Moving Into The Online Market
There are many traditional businesses trying to move part of their business online and capitalize on the ever expanding internet market. Big supermarkets like Tesco, Apple, Dell are all selling online. However, I don’t categorize these as online businesses and it is certainly not something you or me can do. These are traditional “Brick & Mortal” business with an online arm.

2. Online Retailers
Online retailers like Amazon are making big bucks online. These are big corporations which require enormous amount of investment and time and have a high failure rate. Again, this is not something most people can do unless they have extensive experience and large capital.

3. Selling On Ebay/Amazon
Anyone can sell on Ebay and there are many courses teaching people how to do that. It is not a bad way to make some money online. It is possible to make a few hundreds dollar a month if you can get into a good niche and can find a good supplier or dropshipper. However, in order to make thousands or more per month, you need to start having the traditional business headache, like hiring employees, holding stock in your warehouse etc etc. The time and effort required is simply too much and the reward is not high enough. Some people know how to explore loophole and know how to make good money on Ebay and Amazon. If this is something you are interested in, make sure you do your research and learn the trick properly.

4. Affiliate Marketing
Affiliate marketing is very popular and many people make a lot of money doing it. Essentially what affiliate marketing means is that you sell other people’s products and you get a commission for the sale. You can be an affiliate for Amazon and get a percentage of the sales you make. There are a lot of people selling educational videos, courses or ebook online and you can be an affiliate for them and sell their products on your website. Again, you get a one off commission per sale. There are some affiliate products offer monthly commission but there are not many of those around. Google has a system for people to make money online called Google Adsense. It is a bit like affiliate marketing but you don’t have to make sale to get commission. You get a commission when people visit someone’s website via a link on your own website. Because the owners of these businesses are paying Google for the traffic Google send to their websites and Google is sharing it with you if you help Google get the traffic. We are talking about a really small commission in cents and you need to have a extremely popular website in order to make good money from that.

5. Network Marketing
Network Marketing is also called multilevel marketing or MLM. Traditionally network marketing is done offline. In these days, more and more people are doing network marketing online.If done right, online network marketing is a great way to make money online because you are also building your network and organization which will gives you residual income for years to come, even after you stop marketing.

6. Create Own Products

You can create your own systems, tools, training products etc to sell online. This is probably only for people who have some success online. This requires a lot of handwork, technical knowhow and marketing skills if you want to make good money. It is a full time business, not the 1-2 hours a day business most people get into online business for.

In my next lesson, I will talk more about the Pros and Cons of network marketing and affiliate marketing because these are the two main way people make money online these days.

Look out for my email tomorrow as I will talk about the Main Differences Between Affiliate and Network Marketing.

 

To Your Success,

Dr Ket-Sang Tai

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