A few nights ago, I was talking with my wife discussing the vast number of different online businesses that are available for stay at home parents. Mid-way through the conversation, she asks “what is the best way to make money online for beginners?” So, I decided to defer the question and let her know I would get back to her after doing a little research.
What is the Best Way to Make Money Online for Beginners?
The best way to make money online for beginners is to start a blog and develop it into an affiliate marketing website. It does take some time and work in buying and building the website. Then you would need to learn the various types of affiliate marketing techniques that will get you the traffic. But the pros will outweigh the cons if you are looking to build a sustainable business for future growth.
Let me explain some more why I feel affiliate marketing is the best way to make money online for beginners.
Easy to Start
Staring an affiliate marketing business is easy to start if you know what you need to do. There are several different paths you could take in starting an affiliate marketing blog. But I’ve detailed the basic reasons why an affiliate marketing business is easy to start.
Low Start Up Cost
How much you want to invest in your affiliate marketing blog is up to you. At the minimum you will need a domain name for your new blog and a hosting provider that you can purchase and build you website through. Bluehost has a basic hosting package that is $5.95 a month and you can buy a dot com domain for as little at $13 for a year. That is all you really need to get started as an affiliate marketer. Read my post Choosing a Web Hosting Company is Important and Building a Business Website with WordPress for more information about affiliate websites.
There is a lot of free content on the Internet that you can read and view which will help you get your website up and show you how to market it and generate traffic. Beware that what might have worked for one business model may not work for your business model. Affiliate businesses fail all the time due to poor website performance and bad product placement. I’m a member of both the Wealthy Affiliate and Income School. These are the two best affiliate communities that offer training to members. For more information about these affiliate programs, visit my Wealthy Affiliate Review or my Income School Review.
Millions of Online Products
The greatest thing about affiliate marketing is that you do not have to have an inventory of products in your closet. We connect consumers with products that are being sold over the Internet. You could choose to market online digital products like e-books and videos. Or your blog can recommend Amazon, Target or even eBay products. All the big box retailers have affiliate networks that allow anyone to recommend any of their products for sale. For more information about what an affiliate network is, check out the Affiliate Network Wiki Page.
Other Ways to Make Money Online
While I may feel that an affiliate marketing business is the best way to make money online for beginners, that does not mean that there are no other good paths for an online business. There are thousands of different business models that you can try that will lead you to generating money through an online business model. I have detailed three pats below that I think could be good ways to start an online business.
Start an E-Store
Do you have hobby of making products? Or, maybe you have contacts that will lead you into obtaining products that can be sold through a website. If you have the products to sell, then you can buy your own domain and start your own E commerce Store (also known as an E-Store).
I know a couple that love to make thick baby blankets by hand. They get their yarn at their local craft store and spend their Saturdays making 30 to 50 baby blankets. Their first sales avenue is through a website that they own.
Sell on eBay and Etsy
In my above example, my friends also use eBay and Etsy in order to liquidate their inventory quickly. Consumers on these merchant platforms are looking for a good deal. So, I would only use this method of business if you can shave your margins down.
Become a Content Writer
Affiliate websites are always looking for fresh content that can anchor their websites. Not all affiliates can write their own content regularly. So, they will often turn to content writers that will charge between 2¢ to 5¢ per word. That means you could earn $20 to $50 for a 1000-word article. Most of the article’s needs are between 2500 to 3500 words. So, you could earn $50 to $70 for each article that you write. You would need a love for writing and the ability to write good.
Create an E-Book to Sell Online – Do you have a skill or a hobby that you can teach through an e-book? This can be a lucrative business especially if it is in a high demand market. Real Estate investing and Weight Loss Programs are the two biggest markets that e-books are sold in. You can sell them on Amazon or through a digital marketplace like ClickBank.
Create a YouTube Video Business – Do you like making videos? You can turn your passion of posting videos on YouTube into an online business. No matter what you like to shoot on your videos, the more videos you upload, the more ad space you could earn. And if you start a following, that can translate into a nice residual income business over time.
Why an online business may be right for you?
I am lucky enough that I have a full-time job that allows me to stay home for the kids and the flexibility for doctors’ appointments. But I even have periods of the day and in the evening where I just need to be doing something. My wife says that I have adult ADHD, and I just may. So, I use this time for running my own online business. Am I rich? NO. Not by any means. But it does help pay a few bills and I can save so much more every month thanks to my part-time online business.
Earn an Extra Income
Having extra money is a good thing. Increasing your monthly income can I decided to start my online business. I needed extra money that would help me pay down the large student loan debt that I racked up over spending a total of 8 years of part-time college getting my associates degree, bachelor’s degree and my master’s degree. Simply, I didn’t realize how fast the loan grew until half way through my Master’s. I am glad I start building my online business early and it has helped so much bringing down the debt.
A Way to Keep Busy
Starting an online business can help you stay busy through out the day. I like to think of it as a hobby. I love to write and be on the computer. Why not do something that I love to pass the time by.
Scale Easily – Running an online business will let you decide on how big you want to grow. The cost is so low, that you can scale the business quickly and with little upfront cost. You will not need to worry about paying rent for space in an office. Plus, you will not need to hire on a staff, unless you grow so fast that you need the help.
You Have Your Freedom
Have you ever wanted to be the boss. Even now, I am tired of doing all the hard work and making my CEO millions of dollars every year, while I get a very small fraction of the wealth. You can have the freedom of not having your own boss that you would need to report to. You are the boss and make all the decisions about your business. Make your own hours and take a vacation when you want. But remember that your business still depends on the amount of work you put into it.
You will have access to a very large group of consumers. If your business is local, you have a local consumer base. But in an online business, your consumer base is expanded to a global audience. It is not limited by geographic locations.
Why You May Want to Stay Any from an Online Business
Now, let me cover a few areas that are detractors for starting an online business. There are good number of reasons that starting an online business is for you. But there are a couple of problems that you may have to deal with in you online business quest.
Challenges with Customer Service – Providing quality will be a challenge that will need to address in one way or another. Being the boss means that the buck stops with you. If your business is running into troubles, you will be the one that has to interface with the customers that you service.
The Marketplace Will Be Saturated – Unless you are competing in a low traffic niche, check to see if you will be competing in a saturated market. Niches such as weight loss, online jobs and website design are a few of the many saturated markets that have high barriers of entry. That does not mean you will not be able to build a successful business. It means that you will need to out perform the other competitors that are competing in that same space.
Poor Credit-ability – Online business are still an un-trusted source for information and products. 40% of consumers still prefer shopping in malls and brick and mortar stores. Consumers are slowly turning to the internet to research and find information about issues and problems that they may be having in their personal or professional lives. I feel that as time continues over the years, more and more consumers will move to the online market place.
Thank you for stopping by my website and seeing what the best way to make money online for beginners. Becoming an affiliate marketer has been a blessing for me and my family. The process does take a lot of hard work and dedication to our craft. I try to spend an hour and a half each night working on my websites and tweaking my business. But starting any business is going to require a specific amount of devotion to it. If running a business was easy, everyone would be doing it and making millions of dollars in the process.
I wish you all the luck in your endeavors even if you choose another path for success.
Please book mark my website and come back to see my new post. I try to post a new article every week, depending on my availability due to my kids’ practices, games and dance classes. Also, leave a comment below and let me know how I am doing. I love getting back feedback. It makes me a better writer and a business man.
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Doug is the owner of Online Business Talk and sole contributor on all the articles. He is married, has 5 kids and lives in Maryland, in the DC area. Doug holds a Masters Degree in Business Administration with an emphasis in Entrepreneurship. The mission of Online business talk it to provide helpful information to new online business and entrepreneurs that are entering the online business marketplace.
For more information about Doug or this website vise “About Doug” for more information.