Tuesday, June 4, 2013

5 Unique Ways People Are Making Money Online

I believe its often a good idea to have a “side-business” even if you are fully employed as a way to supplement what you are currently making and to offset any changes in employment or other life-happenings that make befall you.

While there is often a lot of leg work involved in getting an online business going (its definitely not a get-rich-quick opportunity), it sometimes can turn into a passive-income business once you have a product in place.

Here’s a few unique online businesses that I’ve recently come across to give you some ideas of what others are doing – that could help jump-start your own thoughts on the matter. Most of the successful internet businesses are filling a need (or creating one) and serving a particular niche. Often, the narrower the niche, the better.
  1. FreeMarketTrade.com. This is a business that a couple of friends have started up recently. It’s an online marketplace where all items are free. Members give away household items they no longer want or need, and earn points that they can use to obtain items they do want or need. While all items are free, the cost of shipping items to and from the store (located in Minnesota) is covered by members. (Members who live close to our store can cut out shipping all together by bringing in and selecting items in person). (Free Trade Mart has a registration special until March 31, 2013. The subscription is normally $25 for a year (to help cover the cost of the storage facility), but it’s only $10 for those who subscribe this month. Receive a refund of $15 by mentioning “Three Thrifty Guys” in the referral box on the sign-up page. Members will also receive $5 every time they refer a family member or friend (this benefit is unlimited). Your family and friends will receive a $10 membership refund if they sign up by March 31st.)
  2. CustomGuide.com. Jon started this business while he was in college to offer tutorials to students and others who wanted to learn the ins and outs of Microsoft Office products. He now has a vibrant business with a staff and sells online-learning to large institutions and businesses. If you have a skill or knowledge about some type of service or product – online education is definitely a growing business and great opportunity to make extra income.
  3. Internet Marketing. Internet marketing has become a big online business these days. While not entirely unique – it is probably one of the most widely used methods to make money online today. Basically it is using advertising or other promotion techniques to sell product or services over the Internet. As a college drop-out, Kevin started an internet marketing business and uses DropOutGotRich.com to share tips and techniques he’s used to build an online enterprise. Another helpful person in this niche is Pat at SmartPassiveIncome.com - who routinely generates about $30-50k from his online “niche” businesses every month and shares insights on how to do the same.
  4. JustAnswer.com Expert. Last year I ran into some issues with a small electrical issue at my house and decided to try JustAnswer.com to get some quick input from an electrician. It was an easy way to get in touch without having someone come out to the house and pay a larger service fee (which sometimes amounts to something you could have done yourself). So, if you are gifted at a certain trade, you can become an “expert” at the site and earn side-income by helping folks with everyday problems. I think it’s a great concept for an online business.
  5. Day Trading. I have heard of more folks doing this today. From Forex currency trading, to buying/selling shares through online brokerage services. I wouldn’t place my bets on this type of income generation, as it is fairly risky and demands a fair amount of capital to get started. But, for some it can prove lucrative.
Any other ways that you or someone else you know making money online today?

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