Making Money

Published on October 12th, 2013 | by Daniel

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8 Innovative Ways to Make Money Online

There is more than one way to skin the “making money on the internet” cat. As mentioned before, there are a lot of different digital nomad jobs. And you can always start to offer your services as a freelancer. But you can also make your money online in somewhat less obvious ways. The good thing about making money online innovately is that you will get interesting new experiences and skills while doing it – apart from making good money of course. Here a list to serve as inspiration.

Build your own Youtube channel

If you are a creative person this could be a lot of fun as well. You can make money by creating your own Youtube channel with good content. Every time someone watches one of your videos an ad is displayed before it starts (so-called “pre-roll ads”). You get paid by the amount of ads displayed. When ads are clicked frequently by viewers, the payment per ad will be even higher. Now, your income per view will not be that high, but the key is to create interesting and fresh content that will attract a large audience and many recurring views.  The current average income for Youtube publishers is around $4 per 1000 views, in case you have quality videos.

There are many cases of private persons that rake in hundreds of dollars every day from their very popular Youtube channels, just by posting funny or informative videos. They key is to get that audience – which is not easy – but if you have an innovative idea and a video camera you can make very good money with this approach.

Design T-Shirts and other clothing

In case you are good at design, or have an interest in it, you could make money by designing T-shirts and other clothing. Through websites as DesignbyHumans and Threadless you can send in your own designs and make money from it. When a T-shirt is sold with your design on it, you get a substantial percentage of the sale revenue. So you supply the design and those websites take care of everything else as payment processing and delivery. Eventually you could be able to design your own clothing line with your special trademark signature. Then you will be able to bring in the big money.

Test Mobile Applications

There is a huge amount of mobile apps out there (Android, IPhone). Now, through platforms as uTest, companies pay money to those who are willing to test out the new or upcoming apps on the market. By reporting bugs and problems of the app you can help the creators of the app to increase its quality and usability. When you do this over a longer period you will build up your reputation as a tester, which will enable you to get better testing gigs and higher payouts. For this kind of job it is an advantage if you are technically inclined, as you will be able to give much better feedback on the performance of the mobile apps.

Write an eBook

There are a LOT of eBooks around on the internet. So you will not make much money by writing one for the sake of selling it. The key in writing an eBook and to have success with is to 1) Provide high quality information, 2) Be passionate about the topic and 3) Cater to available market demand. To find the last component you can look at things what people are looking for on the internet and/or browse relevant niche forums and websites. Free tools as Google Trends and the Google Keyword Planner are very useful for this. If many people are looking for information about a certain product, then there is bound to be a market for your eBook. Make your initial selling price low (i.e. $8,99), so you can get reviews on Amazon and such. Get also reviews by providing review copies to a select group. After all, good reviews are one of the best ways to market your eBook.

Sell Stock Photo’s

In case you are a professional  - or if photography is a huge hobby – selling stock photos online is an interesting opportunity to make money. There is a huge amount of websites and online applications on the internet. Many of those are in need of good visuals – which means that the demand for good photos is also huge. Quality is key here. Generally, stock photos are photo’s that have a very specific purpose or theme. In other words, it caters to a very specific demand of the customer. So supply to this demand and you can then sell your high quality photos via platforms as Getty Images or through your own website. When starting out, selling on an established platform will be much easier. To increase your reputation, you should also post your photos on community websites as Flickr. This will give you valuable feedback as well.

Teaching Online

We are going to a world where learning will become more and more disconnected from a specific physical location. As a corollary, teaching will go the same way. Combined which the increased quality of internet connections, better internet speed and video, you are able to sell your services as an online teacher very effectively these days. This is especially the case if you have a specialization or have a lot of experience in teaching. Through websites as Tutor.com, you are able to teach others in exchange for payments. When you get more experience teaching online – and a better reputation – you can create your own website around your specializations and sell your expertise there.

Become an Online Marketer

The beauty of online marketing is that you can start right away by promoting products from others. The main factors that make you successful in online marketing are that you 1) Choose the right product, 2) Choose the right traffic source and 3) Are creative and persuasive. On especially the last point you can make a difference compared to other marketers. Think outside the box. When you start out, choose a product and think about how you would promote it. Then look at the product online and see how it is promoted. This will give you some good ideas.

Another great thing in online marketing is that its possibilities are very large, due to the massive array of tools and venues you can use. You can promote products via your own website(s), via social media, via search engines, via email and so forth. Then you can promote these products in different ways, and every product is different as well. Just remember that, generally speaking, it is an iron truth that if something is easy you will make less money with it than if the barrier for entry is high. So go that extra mile and you will be rewarded.

Sell your Handmade Products

One of the most rewarding ways to make money for creative people is by selling their own handmade products on the internet. Now, with websites as Etsy or just Amazon, you can easily put your handmade products up for sale and make money with it. On these platforms handmade products as diverse as jewelry, clothing, painting, statues and furniture are sold daily in huge amounts. Lots of people are looking for something unique to buy. So when you can provide this, combined with good quality of course, you can make a very good living from it. In case you are doing well after a while, you can start your own web shop, cutting out the middle platform, and make more profit per product sold.

While all the methods can make you (very) good money, the best innovation starts with yourself. So it is even better if you take this list as a guidance and give your own spin to it. This way you will be extremely successful.

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