Do you want to make the maximum amount of money online with the least amount of effort?
…of course you do. Gee, how did I know that?
Which is why I knew you’d love this post today.
I’ve been making money online in a lot of different ways, and for many years.
In that time, I’ve tried it all. At times I’ve been frustrated and undervalued, but I have also had great triumphs and success.
Today I’m going to save you the trouble I’ve gone through and direct you to what I believe are the BEST ways to make money online, as well as the ones you should avoid like they are a flesh eating virus.
There is one important distinction, I should mention first…
If any of the worst ways I mention happen to be the only way you can get you started, then that’s ok.
Any day making money online, is better than the best day in a cubicle farm.
WORST
1. Low End Services
What are low end services?
Services are basically doing something for someone else, instead of delivering a good or product. Low end services are doing them for very low wages. Basically these are the odd jobs, and grunt work that other highly talented and well paid professionals can’t be bothered to do.
Now Why do they suck the worst?
In short, they take lots of time, pay little money, and the competition is virtually unlimited.
Nothing SCREAMS waste my time like constantly having to answer to picky and cheap clients for a pittance of a wage.
Even worse, to scale these services up to a level of high profitability ( that is to say maximum bling) you would be working night and day until you dropped.
Article writing is a good example. If you establish yourself as a great writer you can charge more and do alright, BUT…
Until then you are constantly battling other writers willing to work for pennies on the dollar, and you will be writing until your fingers go numb.
You are also in charge of finding and managing clients to keep the workflow coming. This can be a full time job in and of itself.
If you want to see low end services in action, just go search fiverr.com. Some of the work getting done for the money is outrageously undervalued.
2. Your Own Physical Products
I absolutely LOVE buying physical goods. There’s no better feeling of finally getting that (whatever) you have always been wanting.
However, over the last few years I have come to despise selling them.
If you’ve read my story, I run a niche business online that sells a physical product. I worked it to earn money while I went back to college because I could do it on my own time in odd hours and in between classes.
It’s great getting paid, but you quickly realize a very definite relationship between how much you earn and how much you work.
That is to say, you’ll be working a set amount of time per sale. Coming from experience, when things get really busy (like over the holidays for example) you will be flying around at all hours until the last minute shipping orders, taking phone calls, and pulling your hair out.
If you have to create the product, you have to manage that process as well.
When you’rein charge of creating the product you have to get the raw materials, create the product, and ship the product for each order.
In addition, you have to buy and manage inventory which costs real money and just sits around taking up physical space.
Even if you outsource creation overseas, you still have to buy in bulk which again brings up costs for acquisition and storage. No thanks!
Unless you have a really awesome idea for a product that will take off huge and be in major stores, be warned that this road is paved with a ton of WORK.
3. MLM
First of all, why does EVERYONE get sucked into these when they first start?
I know I fell for this garbage once upon a time.
If you’re really into this stuff and starting to get mad than I suggest you stop reading now. I’m going to just call it like I see it here, and it’s not going to get better.
It’s a giant pyramid scam. Okay?
Color it a million different ways but it still comes out the same in the end.
Be quick to raise your hand if this sounds good…
Who wants to bug their friends and family about crap products, be forced into monthly billings for products you don’t need, and hassle anyone and everyone you ever meet about this “great opportunity” just to make a few bucks?
Let’s not even get into the stupid names, like diamond, super platinum, matrix, downlines, BARF.
If you happen to scratch your way to the upper levels of your favorite pyramid, I hope you at least lose sleep at night over the bottom dwellers you pulled in that will never get anywhere near as many suckers err leads to signup as you have.
Moving on…
BEST
1. Digital Products
Ding Ding Ding
We have a WINNER!!
Digital products are anything that someone can download, or access through the computer. Your storage requirements are usually VERY small, and at low expense.
Digital products are the true secret to getting paid 24/7 while you eat, sleep, or relax on the beach.
With digital products you do some work up front and that’s about it.
Heck you might even pay others to do the work if you’re smart!
Then you list your product for sale. You can then sell UNLIMITED amounts of the product, and you have to do virtually no more work beyond outsourcing some customer support, and maintaining your servers.
Trust me, once you reach this level you will NEVER want to go back to anything else.
The first time I made more money while at the pub than I spent, I knew I had hit the jackpot!
This is second best for one specific reason.
First, what is affiliate marketing?
Affiliate marketing is getting paid to sell other people’s stuff.
You basically acts as a sales representative.
The advantage over digital is that it can be anything. It can be any type of product or even services. This allows for a very wide range of products that you can sell and an even wider range of markets.
You can also test markets and products extremely quickly, and without much investment.
The major downfall is that you won’t make as much money per transaction because you are only earning a fraction of the sale on commission.
If you’re new, your best approach is to start with this method, and then when you start selling a lot then move into selling your own version. This way you’re almost certain of making sales before you set out to make the product.
3. High End Services
Finally, this is another great way to get paid online. Even though you’re still dealing with clients and their demands, you have much less to manage.
Just one or two clients per month could pay all your bills.
It’s also very rewarding to work with someone personally.
These could be online services to an offline business. Or it might be private coaching or consulting.
Basically the difference here is that you can charge way more for your time because of exclusivity, branding, and expert knowledge.
To crack into this field you need authority, recognition, and a healthy track record of proven results to justify the higher price point.
This isn’t “in your underwear” money online, but it can be very low stress, high paying, and provide a strong sense of personal satisfaction from helping others.
There you have it folks. Pick your favorite and get started.
What do you think? Do you agree? What’s your favorite or least favorite way to get paid online?
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{ 16 comments… read them below or add one }
I agree with most of the above. Digital Products are more than wonderful compared to physical ones especially after creation of open markets online. A simple landing page that is well shot can make wonders! I enjoyed reading your article.
Fary
Up-Web-Traffic ,
Your Online Web Traffic source
Thanks for the comment. Glad to have you visit!
Thumbs up….
All sounds good if you can actually get someone to buy something of you. I am currently looking around for something to give away on my squeeze pages.
There are varying degrees of buyer interest depending on what you’re selling. Some items require almost zero “selling”. Others require more work. I usually advise against jumping right into make money type markets because it requires a lot of effort and understanding of sales and copywriting.
If you’re having trouble giving things away, it’s likely that you don’t understand what it is the market actually wants. Start there, and practice until you learn that. When you get it right it’s not hard at all to sell things online and especially give them away.
For example, if I were to give away product on my niche business I would instantly be flooded with response, so it’s reasonable that people see it as valuable and are willing to pay (which they do).
Hey Ross,
Great info here the three best way to make money online I am currently doing at the moment and it does take time as your aware as people think its happens over night.
This is one site I will be coming back to after receiving your email I decided to check it out. It’s all about turning active income into passive income. Lay the foundation now to reap the benefits later on in life.
Thanks
Awesome thanks for the comment. Definitely agree. Nothing beats having a nice passive income website, and the freedom of working online!
Hi Ross,
Well working on building the passive income and definitely want the freedom that it brings.
Thanks
akil
Very cool man, keep on it! Be sure to let me know anytime you have questions.
Glad to know about the best ways to make money online.
Glad I could help.
I was selling physical goods online before I finally moved on to selling digital products. Probably the best thing that i ever discovered. Selling physical products can take too much effort and definitely carries a certain amount of risk when you start to stock up on goods that doesn’t sell well.
For sure! I’m looking at a pile of inventory as we speak. I have a system to keep mine very low, and a close distributor but it’s still a pain to keep up with. Thanks for the comment.
Hey Ross, you have hit it again.
This is just what would help me as I am just starting out in the Internet Marketing field. You have certainly explained it well and I will act on your suggestion and will definitely make a choice from the tips you have highlighted.
Voilet
Great, thanks for commenting. It’s busy season now for my physical product business and it’s a major pain! Not that I mind getting paid, but it makes me enjoy getting affiliate and digital product sales that much more.