Well, if you are here reading this article then you have probably seen tons of videos and other articles stating there are dozens of ways in which money can be made online. In the world that we see today making money online revolves around things like setting up Etsy shops, or selling things on EBay, making videos on YouTube or blogging but that is not what I really mean when I talk about expanding online.
I am not saying that the above mentioned strategies are not valid or are not relevant options for things we can do to make money online but when I talk about online expansion I am taking into consideration business models to take inspiration from, I am talking about the bigger picture.
Here we are talking about specific online business models or online business concepts such as selling products or hosting ads on websites.
Of these specific business models there are some essential ones shared below and understanding these to make money online can really help you overcome online challenges.
When it comes to business and if we specially talk about online businesses the trouble is there are a lot of options and directions to choose from, so it can be really hard to decide which one is the right direction for your business to take.
But if you understand these online models of making money then you will be able to pick the business model that really appeals to you, goes with your current circumstances and help you achieve your goals. And then from there, you the business owner will be able to better figure out which specific business you should be able to start. So, let’s get into it:
Random Work Online:
This isn’t work that you would normally do for your client but this is work that you would normally be doing for a company and they have set the work up ahead of time. I am taking about things like surveys, watching videos online to earn small payments and writing reviews.
This is all work that can be done online and you get paid for the small actions that you take. Here you are not working with a client and this is work that is typically promoted as easy ways to make money online.
Honestly, I would not recommend doing this kind of work because it has the smallest profit potential compared to the hours given in.
If you just put in a little bit more effort and build up on your skills you will be able to earn far greater. But this is the first, the simplest and a smallest profitable business idea which can guarantee small profits but there are so many tasks like this available online there would not be a time where there is no work opportunities but in turn the profit earned does not justify the hours put in.
Running Ads for Advertisers:
This way of earning money is different from the preceding way and it is about running ads on your online portal like, YouTube, basically you are providing space for advertisers to put their ads. In another example, using some top pay per click affiliate programs for ads and making money.
Now, this is how most people who make money blogging initially make money.
Online entrepreneurs showcase advertisements on their blog posts for interested visitors to interact with and this way the blogger can earn some money.
The same is the case with YouTube, the portal allows for ads to be put in videos, some of the viewer’s click on the ads and that is how YouTubers make money. Well, on the one hand this is a fantastic opportunity to make money online because it can be very passive.
You write an article or make a video and then ads can run on that piece of content for years to come, there are videos or content that can make thousands of dollars each.
Considering all of this, this way provides a pretty good rate of return for the work being put in and if your YouTube content is popular the more amount of money can be earned through ads.
But there is also a downside when it comes to ads, even though ads have the potential to earn a lot of money, they can cause more harm than good. Some websites get really cluttered up and turn the visitors away and earn you almost nothing at the end it is all about the intensity of advertisements and the way they are displayed.
For this, one has to make sure that the included ads do not take away the core of what your online portal delivers, in essence it’s the understanding and the business sense of the person trying to take advantage of this tool to earn money.
Setting up ads to run on your website or on YouTube is generally very easy; the hard work comes in creating the content that has the power to attract the readers or the viewers. Unless one is creating good quality content there would not be anyone to click on those ads at all.
So, this strategy has its positives and the negatives, it is not something I would recommend or not recommend it is just something would suggest being thoughtful about. As it is really about the environment in which you operate in and how you use this tool.
This is a lot like running ads on your website in some ways but holds a few key differences. Basically affiliate marketing is just about you promoting a product which someone else sells. You are acting as a sales person for a product.
Now, when you promote a product if someone buys it because of all the promotion effort you put in then you will earn a commission. Compared to running regular ads on your website this strategy definitely requires a bit more effort.
You have to put more effort into promoting the product and are more thoughtful about when and how you are promoting. Let’s you write a game development blog and you want to promote a top mobile game development app or tool.
In such a situation, rather than promoting the tool at any given chance it would be better if a blog is written about similar game development tools and the tool is promoted over there. This will increase believability and drive more trust from the audience, therefore there is a chance of getting more sales.
If done the right way affiliate marketing can earn hundreds of dollars of every sale that you make. Another big advantage is that you have a lot of control over the appearance of the affiliate ads that are on your site and the entrepreneur also gets to decide what kind of products are to be promoted to the audience and a lot of other factors are in your control.