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10 Ways to Make Money Online with an Internet Based Business

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So some of us have a bright online business idea and feel like getting out of the corporate rat race to pursue it. Then reality sets in and they remember that they have a mortgage or rent to pay, maybe a dependent, or just expensive tastes. Good online business ideas are, well, good, but they don’t pay the bills and they certainly don’t rake in the cash on their own. That doesn’t mean getting that sort of setup off the ground is impossible, though. Here are a few ways to make money using an online business.

1. Expertise

More often than not, the best online business idea is to market one’s skills and experience. Companies will pay out the nose for the advice of someone who has more skill and experience in a given field than anyone else in that field. This is basically a consultancy operation, offering one’s skills and expertise to companies at a good rate without signing on. The way the markets are these days, companies will be looking for every advantage they can.

2. Stock Photos

Stock photo sites pay big money for good stock photos to add to their libraries, so that might be a good online business idea for those that have an eye for photography. There is a lot of competition in this, though, since the Internet makes it easier for good photographers to get their work out into the public eye. This can make it difficult to really make an impact here unless one has a lot of sales and marketing skills to bring to the table, apart from a good eye.

3. Blogging

Believe it or not, this is arguably one of the most viable online business ideas out there. There are companies that will pay to have someone blog for them, since solid content is among the foundations of a strong Internet presence. An alternative is to have good content that supports ads on the blog itself, rather than blogging for a business or organization.

4. Related to the above, it is possible to start one’s own blog network. This is less focused on the writing of content and more on the business aspect of things. Things like selling advertising space on the blogs, hiring and managing personnel and luring investors are all crucial here, as well as the guts to go against the existing “big players” in this field.

5. Open Source Software

This may seem like a bad online business idea on the surface. Open source software means that anyone can get the source code and edit it to suit their own purposes, and these programs are inevitably distributed for free. However, there is money to be had in providing support for these programs – not every end user is tech-savvy enough to fix the software when problems come up and many would be willing to pay for competent technical support.

6. Life Coaching

This is another interesting online business idea, particularly for people who are good at giving advice, even if they’re not necessarily good at following it. Most people wouldn’t mind having a life coach to ask advice from, but who really has the time to meet one regularly? The Internet is a great way to connect the coach and the client without encroaching on either one’s schedule.

7. Web Assistance

As online business ideas go, this is one of the newer ones. Freelancers and small businesses are often pressed for personnel able to do what they need. However, they don’t have the ability to pay the people they need to do those. Offering one’s services as a virtual assistant can prove to be a valuable service to those companies, making it a lucrative option.

8. Build atop Amazon Web Services

People have started to realize that Amazon Web Services is a fairly primitive platform, but one that has potential. This has made more than a few online business ideas spark about building on it and making it better. There’s already a lot of it that is scalable and has solid infrastructure, but there is always room for improvement.

9. Write Reviews for Pay

Chances are that people have opinions on products or services that they’ve encountered. It can be a good online business idea to write reviews for those products. This is typical for those who blog for a prolonged period and have built up a considerable readership. Sometimes, these reviews are written for pay, but there are instances when the company that wants the review will offer perks like free stuff instead. Be sure to always check the disclosure rules on these, however.

10. Gold Farming

An estimated half a million people in China now make a living by earning gold in games like World of Warcraft or Aion Online and then selling it to other players. In many online games, this is considered illegal by the game’s operators and will cause a banned account. However, it can still be a viable online business idea for the games where this practice is not frowned upon.

Making money online using a viable online business idea isn’t impossible and isn’t limited. There are more than a few options available to an enterprising businessman who is willing to learn a thing or two along the way.

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Lorna Li

Chief Evolutionary Officer at Entrepreneurs for a Change
Lorna Li is a business coach, entrepreneur and Amazon rainforest crusader, with a passion for green business, social enterprise, and indigenous wisdom. She helps changemaking entrepreneurs harness the power of the Internet to reach more people and make a bigger impact, while designing the lifestyle of their dreams. She is an Internet marketing consultant to changemakers, and works with innovative tech startups, sustainable brands, social enterprises & B-Corporations on SEO, SEM & Social Media marketing.
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  • http://tomspry.nerium.com/ tomspry

    Great article. The Internet is a great source of information but it has also become a source of income for a lot of people.

    Home-Based Business