He said on his blog, “I previously owned and operated a digital camera review site – and over two years I had a lot of emails from readers asking for tips on how to use their cameras. I came to the conclusion that while there are many millions of cameras being bought each year around the world, a very large number of people could be using their cameras to achieve better results.
Another survey from VigLink offers a closer look at just how much income affiliate marketers are bringing in. According to the survey, 9% generated more than $50,000 in affiliate income in 2016. The majority, 65%, said they were making between 5% and 20% of their annual revenue from affiliate programs. The survey also showed a link between timeframe and revenues. Among the publishers with the largest revenues, 60% had been utilizing affiliate-marketing strategies for five years or more.
Considering that you have a finite amount of time, passive income should make up a large part of your work. And if you're serious about generating any semblance of income online, then passive income should be one of your sole goals and ambitions. Why? Simply this. Wouldn't you prefer to do the work one time and get paid repeatedly as opposed to relying on your time to generate that income?
One of the best moneymaking methods used by many successful individuals is niche marketing, and when you have discovered the perfect topic then you can build a website around it that will either directly sell products/services, or promote them. Niche marketing has made a lot of people rich, simply because it offers high conversion rates and thus give you higher returns on your investment.
It’s why our customers, who are just normal people, have made upwards of six figures in just a month while launching their courses. It’s why the best content marketers (like Seth Godin, Marie Forleo, Noah Kagan) are selling courses. It’s why there was $2.51 billion invested in educational-technology companies during the first half of 2015 (according to InsideHigherEd).
Join a startup accelerator: Another great option is to apply to a startup accelerator like Y Combinator, 500 startups, or TechStars, where a group of investors will help coach you, connect you with potential partners, and provide startup cash in return for a small stake in your company. The competition is tough to get into these, so don’t rely on them as your only path forward.
Now, if you don’t know people who might want your coaching services, there are a number of online tools and communities that make it incredibly easy to find clients and teach, on just about any topic area you can think of. Community driven platforms like Savvy.is, Clarity.fm, and Coach.me provide you with a network of potential clients to interact with, as well an integrated payment solution.
The beautiful thing about a course is that you get about as much out of them as you put into them. If you want to do one course launch, make a few thousand bucks and walk away, you can do that. If you want to create multiple courses around a general topic and run an academy that you advertise through webinars, podcasts, blogs, and joint-ventures and build a lifestyle business from your home, you can do that too!
This is my number one way, and I been doing this for the last five years. This is something that almost every major university has been doing (taking their classes online) due to the huge success they saw from University of Phoenix, which set the tone for online education. It’s easier now more than ever for companies and entrepreneurs to launch online schools, and my good friend Marie Forleo is a prime example with her mega success, B-School.
If you've developed valuable skill sets or picked up certifications within your industry over the years, offering your consulting services to local business owners can be a lucrative way to make money online. Whether you're an expert marketer, business strategist, or manufacturing aficionado, there's likely a local business owner who's willing to pay you to help them solve an issue with their company. Start with this 18-step checklist to becoming a local business consultant from Karyn Greenstreet and then use my guide to crafting an effective cold email to convince them to hire you.
Get creative and sell you and your time online in a fresh, new way (it's not what you think). Fiverr is a website dedicated to connecting people to talented individuals to get things done. We all have talents and some of them can be quite marketable. Some of the featured gigs I noticed on Fivver include drawing an art illustration, designing logos, creating online content and even providing a voice for a Podcast intro and much more. As you might expect, gigs start at $5. The trick to making more is to offer upsells. Listen to my podcast episode with a successful Fiverr creator.
Whether you have a website or are still dreaming up ideas for a blog, you can also look into affiliate marketing. With affiliate marketing, you partner with brands and businesses within the content of your website. If you mention a product or service, you link to that produce or service using a unique affiliate code you received when you signed up for that particular affiliate program. From there, you’ll make money any time someone buys a product or service through your link.
Mechanical Turk is Amazon's take on micro-jobs. These are small miniscule-jobs that you can do for other people, which they call HITs, or Human Intelligence Tasks. These are super simple tasks that anyone can do. Some examples are listing off some URLs with certain kinds of images for one cent, or recording a few phrases with a microphone for 6 cents.