What options you have to make money online?
- An offline business only partially related to online – this is the solution recommended by Călin Fusu. In his example, BestJobs (a site similar to Monster.com) sells jobs not only online, but uses its selling team to sell the business idea to off-line businesses. Zumzi (a Groupon-style business) does a lot of interactions off-line. He actually says that “‘nu concura niciodata cu jucatorii internationali pe segmente unde softul este esential’ – poti concura pe domenii unde vanzarile sint de baza (bestjobs/zumzi) sau unde contentul este de baza (trilulilu).” So, avoid facing having Facebook as a competition, but do create a business in which you can compete with either content or selling force.
- A web property, selling ads – You create a web site and you sell either impressions (how many people view an ad, not depending on what they do after seeing it – CPM model, Cost-per-Mile), or clicks (you are paid if people click on an advertisement – CPC, Cost-per-click), or, finally, conversions (you are paid, via an affiliate network, depending on the number of sales generated by your web site).
- A web property, selling products – You can create an online store and sell things this way.
- You can create web a web application – This might be a mobile phone app, a web site which does something, a piece of software which solves a problem.
- An advertising environment – You can make money by using advertising only (for example, you enter an affiliate network, you do AdWords advertising, and have a revenue source based on clicks on your ads).
- There are also solutions to find work as a freelancer (from creating a web site, to translating things).
Some general tips:
- You need a brand. Trust is value in itself.
- Communities help a lot. It’s a different things selling things in general, and selling things to a community on your web site.
- You need a combination of luck, hard work, talent, persistence, differentiation to succeed.
- It’s not that easy to create a lot of quality new content, constantly. You’d better find something at which you can keep on working.
- On a personal note, I find Google AdSense is not working that well. In Romania, I’ve had good experiences with profitshare.ro affiliate network. There are options for everyone, you just need to put some work into it.
(written via a suggestion – A lesson from my father » Oliii.com – by Olivian Breda)
Note: Also see the Yahoo! Group on which I present similar issues: IMRo. To join, email email@example.com and reply to the confirmation email.