10 GUARANTEED Ways to Make Money In Your Online Business
22 min read
So, you came up with this brilliant idea for a business, right?
And you know you can make good money off of it and have a good idea of one way to start rolling in that dough.
However, are you sure you want to only have all of your money-making eggs in one basket?
In fact, why not make it two or more baskets and come up with all the possible ideas you plan on expanding into, even if it will be in the future? It will help you make better decisions as a business owner on where you’re headed next.
This post is for you if you are just setting up your business, or even if business is already set up, and you’re ready to start making money. This post will show you ways to monetize and make money from your online business that you may not have thought of yet!
After reading this post, you will be able to weigh your options and decide if you want to add any other new income methods. You’ll even leave with a bulls-eye to focus on as you grow your business!
Ready to learn more ways you can add flexible income methods to your online business? Let’s do it!
Assess What Money Making Strategies You’re Already Using
To start, you should analyze where you are right now. Take out a piece of paper or your handy notebook that I know is probably sitting next to you and write down the methods that you plan on using for your business. Or, write down the ones you’re already using.
- Do you like those methods right now?
- Are you getting the results you wanted or hoped for?
- Do you have clear and concise goals?
- Are you working hard enough to reach them do you think?
- Would there be an easier way to accomplish what you want to do?
Outlining and assessing your current strategies will help you decide if you should keep pursuing your current methods or stretch out to try a new method! Next, we’ll talk about the 10 different ways you can make money online – guaranteed!
10 Different Ways to Make Money in Your Online Business
1 | Networking & Collaborations
One way to make money online Is through collaborating with other companies.
Whether that means gathering leads to make sales, reaching out to other companies to sell their products, or reaching out to other influencers online to collaborate with guest posts or challenges, it’s guaranteed that your business will grow if you do this right.
In other words, connecting with people and collaborating will grow your business because you’re growing your connections.
What are all the ways you can collaborate and where do you start?
- Use a system like HARO (Help A Reporter Out) to collaborate and get the word about your business out there
- Collaborate with influencers to sell your product, hold challenges, giveaways, or guest posts for your blog
- Join groups and masterminds, help others out and you’ll start becoming known in your niche, which in turn gains you traffic to your site
- Find companies to sponsor your blog or website to get free products or get paid for your services
- Contact companies who you love, use and support, that your audience would also love. Collaborate by setting up a deal with them could mean you start gaining affiliate income for advertising their products, or have other agreements that could lead to even bigger business growth.
- Get paid to blog on other big websites that accept guest posts like Entrepreneur or other big companies in your niche.
- Even if you sell products, don’t discount doing blog posts! You can talk about your niche or products – after all, you’re the expert in your area! You can write a post and help others solve a common problem.
Since all businesses are based on connections and how you establish yourself as a company within your industry – it’s very important to collaborate and network with other business owners and companies. That’s why I put this one at the top!
If you don’t do any other methods, the one most important method on this list would be to connect with other people.
Remember, you’re only one connection away from changing your life.
Today, make a list of influencers you could reach out to.
Then make a list of ‘dream connections’ or some other not cheesy name, to reach out to once you gain some influence.
These dream connections are people that you would LOVE to meet or connect with one day, but you will likely need to work up to it.
Then, work backwards and see how you can take one step today to get closer! Do they have a Facebook group you can join? Can you email them just saying thank you and asking a question? Simple little actions like this may seem nerve wracking, but it will be easier than you think, and you never know what may come of it!
2 | Ads on your site
Perhaps the easiest way to make passive income in your business is to include ads on your website.
If you don’t have a website…
You need to get on that. Like, yesterday!
Even if you sell products on another platform, you should at least have a website for a customer to find you and learn more.
The first thing we do when we find a product we love is to Google it, right? So how can they find you? What happens when they Google you? Let’s give them a little something more and not rely on other platforms to uphold our businesses – that can be dangerous!
How do ads work?
Ad networks usually work off of page views. As you gain more traffic to your website, your cost per thousand visitors can go up. When someone clicks on an ad, you get paid a small amount for them clicking on it.
First, you register with the ad company, on their website.
Once approved, then you will get an HTML code to add to your website. Often the company will show you how to do it, or do it for you in some cases.
It’s that simple! Just apply, set it up, and test it over time to see which ad networks perform best!
You will choose an ad network based off of your current page views. The most common networks are Google Adsense, Media.net, Ad Maven, Mediavine, Ad Blade and AdThrive. There are a ton of ad networks, and they all have their own requirements.
There are lower page view ad networks such as Google AdSense, Ad Maven, and Media.net. With Google AdSense, you don’t need a particular number of page views to be approved.
There are also higher tier ad networks such as AdBlade, Adbuff, AdCash, Ads Optimal, AdThrive and MediaVine. These require page views that are higher. For example, MediaVine requires between 25,000-30,000 page views per month.
A tip about ads
Don’t overwhelm your customers by adding so many ads that you’ve got a slow website, videos popping up and playing, and an ad on the top, on the bottom, in the middle, on the side, etc. It’s too overwhelming and can cause people to not come back to your website.
Keep in mind that ads are usually only paid when you click through. The downside to ads is that to make any significant income, you need to apply to the higher tier ad networks, which again, require higher page views.
This means that usually by the time you’re getting that amount of page views on your website, you likely can be making better money and have a higher ROI with another type of income stream.
But this is why we are expanding to multiple streams! You’re leaving money on the table if you aren’t utilizing ad networks!
Which leads us to…
3 | Affiliate Income
Yay affiliate income!
A very cool way to make money.
You can do this without having a blog, and you can do it as a brand, as an influencer on social media, or growing an audience on Youtube or something. Affiliate income is quite flexible!
What is affiliate income?
Affiliate income is where you are being the middle person between the customer and the brand you’re promoting.
First, you will find a brand that you love and want to promote to your audience that has an affiliate program. You can do this by Googling ” _____ Affiliate Program”.
Then, you apply for the program. It typically takes a few days to hear back from the company on your approval.
After you’re approved, the brand will give you information on how to promote their products and what they allow and don’t allow in their program.
Important information about affiliate programs
You want to be very wary about what affiliate products you choose to promote. You want it to be beneficial for your audience, but you also want to have used the product yourself before you promote it. It’s important to be wary of whether your audience wants or needs this product as well.
Make sure you’re aware of what you can and can’t do with the program. For example, you can’t put Amazon affiliate links in your emails or in PDFs. Little rules like that are easy to miss and forget, but very important!
How to make money with affiliate programs
You can be creative with affiliate income by writing high quality, long pieces of content around that product, filming videos or holding challenges for your audience. And if you promote it just as much as you would promote your own products, you can make a fantastic income doing this.
Here’s some creative ways to make money with affiliate income:
- Create a long form tutorial on how to use the product
- Create a tutorial on how to solve a problem using that product
- Push traffic to that content heavily using social media
- Create an email challenge to help your customers solve a problem
- Go seasonal and take advantage of your niche and the seasons or time of year to promote those products. Use Google Trends to look at the popularity.
Here’s a great website with a very in-depth guide to affiliate income
Another way to be creative with affiliate income is to write that great piece of content I just mentioned, and then create and sell ads on Facebook or another platform to get the word out. Be smart and use your higher affiliate products to get the most bang for your buck, to pay for your Facebook ads.
Be sure to calculate the cost of ads in your return on your investment or profit margins to make sure it’s effective and worthwhile.
With affiliate income, the sky is the limit. You can create unlimited websites, and there’s almost an unlimited amount of products or services you can use. Of course you want to be wary about using too many and make sure it’s right for your audience, but it’s not unheard of for people to make their living (a nice one at that) using strictly affiliate income.
It’s no surprise that it’s one of the more popular ways to make money online. No products, no customer service to worry about, no up front costs or capital needed – it’s kind of a dream, really! So get on out there, find some of your favorite products to promote!
4 | Create online courses
Everyone has their own skills and talents what they are skilled enough to create an online course for. Even If you are like me, jack of all trades and master of none, I still have enough skills that I feel confident enough to teach others how to effectively do that thing.
So you need to find out what your speciality is, and see about creating a course in order to grow your income. Everyone’s got a specialty that
You can even start growing an audience around this, and grow your business even larger, but here’s a simple road map to get started with selling online courses.
Test your online course idea before you make it:
- Pre-sell with an ad on a social media platform and a landing page to start collecting email addresses. This is so you can test how many people would be interested in purchasing the course
- Post in groups or on your Facebook page to see if there’s any interest
- Hold a free challenge to test the waters about how popular the idea might be
Create your online course:
- Outline your course and start writing the course.
- Create the online course with a course platform such as Teachable. Add videos, photos, etc.
- Upload it onto other platforms such as Gumroad or Udemy as well, so you cross promoting
- Join Facebook groups in your niche and start talking about it when applicable (do not spam!)
- Network with your audience and start helping them and then simultaneously your business will grow!
Sell the online course:
- Finally, start collaborating with other influencers on webinars to utilize their audience with webinars to get the word out about your launch. Make sure to help them in return so that you both benefit from the relationship.
- You could even create an affiliate program for them so that they could benefit from promoting your course. I don’t recommend doing this right away – maybe once you have a few courses under your belt!
- Create sales emails for the launch of your course
- Limit the time your course will be available. Use something like MotionMail to have a countdown timer in your emails
- Offer the course in multiple different prices and packages
- Get a lot of sleep because launches can be crazy stressful sometimes!
5 | Create physical products
Now I think a lot of people get tripped up when they hear about creating physical products. Things that come to mind are China, shipping, taxes, manufacturing, scams, etc.
But the truth is, although you can buy products from China, that’s not the only way you can create a product. In fact, there’s multiple ways to create physical products!
And pssst….physical products, packaging and branding is one of my favorite things about eCommerce and online business!
Print on Demand
You can utilize print on demand companies to create your products for you. You simply design your product, upload it to their platform and your online web store.
Then when a product sells, you can drop ship it directly to your customer!
Most print on demand companies are located in the US, so you can rest assured knowing your product will be there for your customer on time.
Private labelling a product is where you find a blank generic product, such as a garlic press, and you put your label on it.
This is an inside joke in the Amazon world – if you search for garlic press, you’ll see the same product, hundreds of times, with different brand names. This is an example of over-saturation, so choose your product wisely!
The best part about private labelling is that you can do this in the good ol’ US of A and you can do it with almost anything. You can find companies who will package your product for you, and all you do is place your order and get it shipped to you. Sometimes they can help you design packaging with a designer as well!
Dog treats, books, journals, jewelry, clothing, home decor, health products, vitamins and supplements, food mixes – it’s limitless! Whatever you can dream up, you can do it!
How to create a private label product
It’s easier to start selling something when the product is already created and all you need to do is brand it to your own company exactly for your audience. It’s as simple as typing in “your product private label” into Google and looking at your options. Talk with the manufacturers, get pricing, order sample, adjust anything you don’t like, and voila you have your own product! It’s literally as simple as that.
If you order from China, the story is a bit different. This requires worrying about tariffs, shipping via boat, communication barriers, and more. I personally only concern myself with private labelling within the United States.
6 | Create digital products
Now I did mention creating online courses, which is already a digital product of course.
But when I say digital products, I think of things such as templates, stock photos, maybe audio or stock video that you can sell, printables, digital crafting designs or selling print on demand products or your art.
Really, the options are endless with digital products as well!
To sell digital products, You will simply need to:
- Decide what you want to sell
- Find an easy simple way to create your designs or what products you want to focus on
- Research what’s out there already in your niche
- Choose a platform to sell on
- And then start creating your own brand around it!
You can also check out my post over here on How to Sell Digital Products Online to help you get started with this.
7 | Create a membership or mastermind site
Another fantastic way to start making money online is to create a membership site, or a mastermind group that you can start building an audience and community around.
Start thinking and noticing ways that your communities that you’re currently involved in are lacking. Is there a lack of leadership or communication in the group? Do you see things lacking that you wish were offered in your current groups?
You can start your own community by determining what you want to charge – make it reasonable but also effective for your audience to be involved – and start getting the word out there.
Now, don’t run into your current groups and be like, “I see this group not doing what I would like so I made my own, come join!” Because that’s awful and you never want to do that to your groups or your peers.
Instead, maybe start placing Facebook ads or create a landing page with information about your group or membership.
Start creating content around your idea and try to get people involved.
If you start charging for a membership site, make sure you are active, of course, and have themed days or events that your users can participate in. Make sure you are providing more value than you have seen in free Facebook groups.
And here’s a hint: if your audience is paying a fee to get in – you bet they’re going to be active because they’re invested in the idea. You will have to be a good leader!
(Are you starting to see a theme here about creating an audience for each one of these strategies? That’s because that’s what your online business marketing is all about!)
8 | Host events or conferences
Another way to make money from your online business is to host an event or conference.
Take your existing audience or your community of your current online business, where you hang out, and see if you can start creating meetups with your people.
See who would be willing to sponsor your event with either their products or services which helps them get the word out about their own business. Start making arrangements and connections to benefit each other in order to provide value to your audience.
You can also reach out to advertisers and brands to see if they’re willing to sponsor your ideas well. Just don’t pull a Tanacon – please! Do your research and prepare way in advanced haha.
9 | Create and sell niche websites – flipping websites
This method of making money for your online business can be quite fun actually. It can also be a large boost in income all at once, but it takes a long time to build up.
This one doesn’t involve talking with people as much, so if you’re really introverted and you really want to avoid talking to people, you can almost get away with it until you start looking into selling the website.
The overall steps of flipping websites
- Find an audience and a need
- Create a website and social media profiles
- Create meaningful content around that need, questions, and pain points
- Utilize with SEO and keywords
- Monetize your website with ads or affiliate income, or maybe even your own products
- Grow your traffic, social media audiences, and overall online influence
- Turn around and sell it on a website like Flippa. Typically flippers will charge the average 12 month income
Now, it’s important to say that you will need to be tracking your metrics on Google Analytics and all costs associated with your website before you sell it. The buyer will want to know this information as they move forward.
Niche Pursuits ran by Spencer Haws talks all about niche sites, how to get started, how to do keyword research, how to set up your website, and anything else you need to know! I love his website, it’s always full of information!
10 | Come up with a new brand or product under the umbrella of your current company
Now, keep in mind that your business doesn’t just have to be for example, blogging, or just selling products on one platform. And you don’t have to create a whole new company name to create a new brand. You can do it all under the same company name.
You can expand that to include other areas of income but it can still fall under the umbrella of your one business if you want. You can also create separate lines or different company or brand names within that same business registration name. Although your accountant might recommend differently – and please verify with them before moving forward – I wanted to mention this because it seems a lot of people don’t realize how easy it is to go ahead and create a new brand!
When I first started my business I had no idea it was so simple to create your own products, create a new brand and have multiple different business ventures under the same name. After learning that, I thought it would be an important lesson to teach others as well!
Say, for example, that you’re running an Etsy store or a store on Amazon FBA, or a blog.
You can expand your same company or brand to other platforms. In fact, you could create a whole new brand, under your same company name if you wanted! It’s one of the fantastic parts of being an entrepreneur – dreaming up new names, new products, new companies, anything!
Entrepreneurs love trying multiple methods of income
Did you know that successful entrepreneurs have, on average 6-7 streams of income?
So if one idea doesn’t work – just move onto the next. Lick your wounds and keep going!
Entrepreneurs will try many projects before they find ones that work for them, or get the results that they expect.
Luckily, that’s what we just covered, the 10 guaranteed ways to make money in your online business!
When it comes to making money from your online business, you have many different options. There’s so many ways to make money online out there that I haven’t listed on this post, but these are some of the most common methods that you can add to your business!
I hope I gave you some ideas to start moving forward with your next exciting stream of income!
Earlier in the post you wrote down what your current monetization strategies were for your online business and then possible future strategies that you wanted to look into.
Now that you’ve learned about a few more ways that you can make money online such as creating your own products, placing ads on your site, selling affiliate products or flipping websites, which ones of these would you want to look into?
Write those down, and come up with a long-term plan or goal so that you can determine if these would be right for your business.
Remember to not take on too many projects at once, but to do one project, master at, and then move on to the next.
So are you going to venture onto one of these strategies to see if you can make money from them?
Comment below and let me know! I want to know what my readers are working on, so we can grow our passive income businesses together!
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