10 New Ways to Make Money Online

464 Comments

moneySo you want to ditch your corporate cubicle and join the ranks of web workers? But you have a mortgage, maybe a dependent or two, and a taste for Venti Mochas from Starbucks? You can make money in the new economy, though it might not be as easy or cushy as keeping your old economy job.

I’m not talking about advertising or affiliate marketing or selling your junk on eBay. Those are so last millennium! I’m talking about the new new economy.

1. Offer your professional expertise in an online marketplace.These days, you can do more than just sell your old books via Amazon and your old Coach handbags via eBay—now you can sell your professional capabilities in a marketplace. No longer are you limited to looking for a permanent or contract job on Web 1.0 style job sites like Monster or CareerBuilder. The new breed of freelancing and project-oriented sites let companies needing help describe their projects. Then freelancers and small businesses offer bids or ideas or proposals from which those buyers can choose.

Elance covers everything from programming and writing to consulting and design, while RentACoder focuses on software, natch. If you’re a graphic designer, check out options like Design Outpost or LogoWorks–you don’t have to find the customers, they’ll come to you. Wannabe industry analysts might sign up for TechDirt’s Insight Community, a marketplace for ideas about technology marketing.

2. Sell photos on stock photography sites. If people regularly oooo and aaaaah over your Flickr pics, maybe you’re destined for photographic greatness or maybe just for a few extra dollars. It’s easier than ever to get your photos out in front of the public, which of course means a tremendous amount of competition, but also means it might be an convenient way for you to build up a secondary income stream. Where can you upload and market your photos? Try Fotolia, Dreamstime, Shutterstock, and Big Stock Photo.

3. Blog for pay. Despite the explosion of blogs, it’s hard to find good writers who can turn around a solidly-written post on an interesting topic quickly. GigaOM is always looking for bloggers with great content ideas and solid writing skills. How do you get noticed? Comment and link to blogging network sites. Write blog posts that are polished and not overly personal (although showing some personality is a plus).

4. Or start your own blog network. If you like the business side of things–selling advertising, hiring and managing employees, attracting investors–and have the stomach to go up against the likes of Weblogs, Inc., GigaOmniMedia, b5media, maybe you should make an entire business out of blogs. Don’t make the mistake of thinking you’ll get a lot of time to write yourself though.

5. Provide service and support for open source software. Just because the software is free doesn’t mean you can’t make money on it–just ask Red Hat, a well-known distributor of Linux that sports a market cap of more than four billion dollars. As a solo web worker, you might not want to jump in and compete with big companies offering Linux support, but how about offering support for web content management systems like WordPress or Drupal? After getting comfortable with your own installation, you can pretty easily jump into helping other people set them up and configure them.

6. Online life coaching. Who has time to go meet a personal coach at an office? And don’t the new generation of web workers need to be met by their coaches in the same way that they work: via email, IM, and VoIP? You could, of course, go through some life coaching certification program, but on the web, reputation is more important than credentials. I bet Tony Robbins isn’t certified as a life coach–and no one can argue with his success. For an example of someone building up their profile and business online as a coach, check out Pamela Slim of Ganas Consulting and the Escape from Cubicle Nation blog.

7. Virtually assist other web workers. Freelancers and small businesses desperately need help running their businesses, but they’re not about to hire a secretary to come sit in the family room and answer phone calls. As a virtual assistant, you might do anything from making travel reservations to handling expense reimbursements to paying bills to arranging for a dog sitter. And you do it all from your own home office, interacting with your clients online and by phone. You can make $20 and up an hour doing this sort of work, depending on your expertise.

8. Build services atop Amazon Web Services. Elastic computing on AWS is so cool… and so incredibly primitive right now. Did you know that you can’t even count on your virtual hard drive on EC2 to store your data permanently? That’s why people are making money right now by offering services on top of AWS. Make it easier for people to use Amazon’s scalability web infrastructure like Enomaly has with elasticlive, a scalable web hosting platform built on AWS.

9. Write reviews for pay or perks. If you blog for any length of time on a particular topic–parenting, mobile phones, or PCs, for example–you will likely be approached to do book or product reviews. You can get free stuff this way, but are you selling your soul? Is there any such thing as a free laptop? These are decisions you’ll have to make for yourself, because no one agrees upon what ethical rules apply to bloggers. Even less do people agree on services like PayPerPost that pay you to write reviews on your blog. Check out disclosure rules closely and see whether such a gig would meet your own personal standards or not.

10. Become a virtual gold farmer. A half million Chinese now earn income by acquiring and selling World of Warcraft gold to gamers in other countries. If you’re not a young person living in China, this probably isn’t a viable option for you. But what’s intriguing about it is the opportunity to make real money working in a virtual economy. People are making real-world money in Second Life too.

[digg=http://digg.com/tech_news/10_New_Ways_to_Make_Money_Online]

Looking for more money-making ideas? Check out “10 More New Ways to Make Money Online” for some great suggestions.

What other new ways do you know of to make money online?

464 Comments

Gene

I recently saw a really cool way to make money. It’s called “Painting A Day Blog”. If you are creative and motivated, you can paint a small painting a day and post it in your online blog. The prices can be low and it seems like the business is going really well and a lot of the paintings gets sold.

I guess it can be applied to any creative enterprise.

:)

Cage

These are some good tips. Anyone that puts a little effort into whatever project they choose can make money online.

Robert

This is a great article, but I think your readers should also understand a few “hard truths” about your first option — particularly the graphic design route you mentioned. I have done some research (http://www.creativelatitude.com/articles/article_0905_wurth.html) about the realities of these services and they are great money-makers for the parent company, but lousy for the individual trying to earn a living.

LogoWorks, for example, opperates as something of a contest. When a job comes in, many designers are expected to contribute time and effort. Only one will be chosen. At the time of my research, designers were only paid “up to” $40 per logo (with a “possibility” for a little more — but only if their design is chosen by the client). That sounds like a lot, but consider that in order to gross $25,000 a year (barely an entry-level starting salary for a designer), one would have to contribute 12 original logos a week, for 52 weeks — that’s 624 original designs over the course of a year.

By those numbers, it becomes clear that any sort of sustainable income through those kinds of services is pretty much impossible — even the best designer would quickly burn out. But to be fair, someone might be able to make some short-term cash.

Zaizen

No.2 – sell photo on stock photography sites. — this is really..really good for those have a hobbies taking pictures. As a customer, i always buy the picture on stock sites for my client..one picture can cost between $1-$3 bucks..hey, anyone need picture right in matrix world right? (chuckle).. i give u a clue..

i have this ideas last year..but, not have time to implement it..

Pligger

For me the best way of making money is to buy and sell domain names. There’s a lot of money to be made for the ones who truly understand this business.

Firelead

I do marketing online and it is possible to make money if you’re willing to work. Webmasters are in dire need nowadays especially in my industry.

James T

Selling and buying gold in World of Warcraft is against the terms of service you agree to when you install the game. If they catch you, you will pretty much be banned from the game and all your work will be for nothing.

scott

I make a decent living online, and it’s not rocket science. I’m not going to spam this blog, but if you click my name I’ve written an article outlining exactly how I got started.

jeff

no mention of stocks or online brokers, oh no there is better money in hocking a free laptop once every couple of years. Seriously, these ideas are lame if you want to make less than minimum wage these are great ideas, but if you really want to make money play the markets.

The Pandora Effect

as much these are ways of earning money, i guess at current situation, the society is still not “mature” enough to turn toward such mediums.

regards,
The Pandora Effect.

Tim Rooke

If anybody is actually serious about looking to earn money through the net, the most viable way that I could see through my experience is learn how to link build. In today’s market the importance of ranking highly with in search engines is vital, if a website has a high amount a relevant inbound links to a site, this can be very beneficial to its ranking.

However:
Getting relevant inbound links to a site can be very time consuming and require a great deal of research and patience. If you are willing to find good links for website then this can be very lucrative. I know that web agencies or even individual businesses would pay good money for someone to carry out this service for them. It can be done on a freelance basis and doesn’t require much skill apart from knowing your way around the net and having the creativity to find ways in which to get a good inbound link to a website.

Alex

With so many ways to earn online – old and new – it is getting more and more difficult to earn living online.

Daniel (DBT)

Good points.

I think that as we move forward more and more people will be able to make a living from the Internet. The huge online market, after all, makes it much easier to find specific talents all over the world.

Dio

Excess of every thingf is bad. Now every one (including me) seems to be doing just that. No?

hrt4kids

There is another way to make cash on the net that I keep hearing a lot about. It seems to be that there are so many people out there selling products using affiliate marketers for their sales that a new job market is exploding… A manger is needed to keep up with all the array of things that sellers have to do…from paychecks to helping network the marketers and give support, etc. I really don’t know how to affiliate market so my description may be a little rough. I intend to go to a conference in Nashville and learn all the ins and outs of affiliate marketing. Supposedly, there will be people there looking to hire the new managers coming to the conference. I am not interested in that, but I hear the commissions are lucrative. I just want to earn cash at home and stay with my little ones. Anyway, the conference url is http://www.affiliatemarketingmanagerconfence.com . I hope I spelled that right. I don’t know how to make that a link on here so sorry about that. Thanks for the info BTW…It was very informing! KE

Amit Agarwal

Anne – all useful points. Thanks.

There’s another option and that’s about providing tech support using remote desktop software or over phone via Ether.

jeff

moola.com — fun play for millions (if you have a lot of luck) Anyone for rock, paper, scissors?

Kelly

Thank you for this post, I’m in the process of putting together my own site called chemopalooza.com — all about living with Hodgkins Disease, and I really think it’s going to be a sucess — I’m now trying to think of ways to make money with it, so this post hits home. I love this blog.

Kelly

Bob Grommes

Seriously … can anyone possibly make honest money at online marketplaces? I posted about this here. If anyone has figured it out, I’d love feedback about it.

For now my conclusion is that these sites are strictly for offshore chops shops and bottom feeders.

Comments are closed.