What is the Best Method to Make Some Money Online?

Monday, October 20
Recently, I was scanning around Yahoo Answers and found this particular question. Since I spent the time answering it for that person I thought it might be useful for any of the Agile Marketer readers. Enjoy!

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This is a difficult question to answer because most of your answers are going to be pitches for products or services that claim to make you money.

How to Make Money OnlineI'll say right up front that even though I have made some good money online most of the money making systems are really a bad mix of techniques and promises that typically burn people out right away because of one of the following:

1. You have to pay too much money to learn or get into this business

2. You don't have the computer skills to work online

3. You are trying to make money on something you know nothing about or care about (this is my pet peave!)

4. You don't have the diligence to do the day to day work

5. You are not thinking like a small business

6. You are desperate for money and will do anything

These statements are what typically splits those who make little or nothing to those who make millions online.

I started out like you wondering what to do and how to do it and was left with a lot of frustrated mistakes. But, if there is anything I've learned online in the last 5 years is that if you don't pursue something you love (your interest, hobbies, life dreams, etc) you probably won't make much.

My advice to you is to:

1. Start with a business mindset first - what is your plan? what will you sell? do you have knowledge that is marketable? (Don't worry - many things are marketable - I've seen successful online businesses just on simple home ice dam removal because the person doing it loved construction - and saw another make a mint on care of pet fish - yes, pet fish!!!).

2. Be sure to really start your business - as a sole propietor or LLC. You get huge tax breaks for anything you buy for your business - books, computers, software, desks, phones, etc. Don't buy anything until you do this!!!! It will save you a ton of money.

3. List every thing that you love to do or know about and write them down. Then, pick what you think you could market online as a product, service or knowledge (such as a blog)- stick to it!! Don't go online trying to sell diet plans if you know nothing about nutrition or dieting. If you know something about specific pets, legal forms, cameras, - the sky is the limit! Use that knowledge to your advantage and build on it.

4. Not give into desperation - let things work out over time. You can't build a business in a day. Making big money online takes time - you have to prove yourself and have the motivation to work on it every day.

5. Invest in your education. Learn as much as you can on how to do this - buy a few online business guides. I'm constantly amazed that people are not willing to spend a couple hundred dollars to learn how to make money online when they are willing to pay thousands for a MBA or even an online college degree.

6. Don't get distracted - probably the #1 killer of online hopes and dreams. Once you start learning this business you will definitely see more opportunities - hold off!! You will spread yourself too thin. Be focused.

I hope this helps you. I've lived it and think that anyone can do this.

{4 comments}:

Annie T. Baxter said...

Very well written. I agree with all points, and especially the last one..."Don't Get Distracted". What I am finding is the importance of having a "filing" system for new ideas and sites to study. Trying to stay focused on the task at hand, without loosing ideas or info is a fine blanacing act.

I'll be bookmarking your site as well as linking to this article!

Don James said...

Thanks, Annie! You're right that the last point of distraction is the single most difficult part of making money online. If you are a follower of Holly Mann's Honest Riches you can see from her path how focus can lead to success.

Thanks for the bookmark!

Dave House said...

Your link, Passions to Profits is a blank page.

Not a good start

Don James said...

Hi Dave!

Looks like you're hitting the IE problem of late. Seems that IE is opening links in tabs rather than new pages. If you right click on the link and save the PDF you'll get the ebook. I tried this in Chrome and Firefox and the link works fine.

Thanks!

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