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Another method to generate money online is via consulting. If youre an expert in any field, you could potentially find individuals willing to pay you to counsel them on their personal or business objectives. You might think youre not important enough to consult for large companies, but you could be surprised by the types of expertise people will cover. .
My colleague Robert Farrington of The College Investor is a good example of someone who consulted online on both sides in an unlikely industry. Robert told me that, after he had been blogging for a couple of years, a couple brands reached out for him to ask him to get assistance with social media and online marketing. .
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Robert said he did an average of 4-6 of those gigs annually for some time depending on his agenda and the work involved. The best part ishe charged a flat rate that generally worked out to around $100 per hour. And remember, that was pay he had been earning to educate people on the best ways to use social networking tools such as Facebook and Pinterest to grow their brands. .
If you want to start consulting but arent sure what steps to take next, you can even establish a free account through Clarity.fm. This website lets anyone who wants to provide consulting set up a free profile. Once your profile is set up, people will find you and book a session youll get paid for. .
If you have any ability you can instruct others, its also possible to set up an online course you can market online. You can find online classes that teach anything from cooking to marketing or even freelance writing. HeckI even provide my own course for financial advisers who want to take their businesses online The Online Advisor Growth Formula. .
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Last year, I profiled my friend Joseph Michael of Easy Course Creation. Michael offers several different courses, including courses on a writing software named Scrivener. Through time, Michael has earned six figures or more annually selling courses that help people achieve the kind of success he has earned.
Another way to make money online is by hosting an online podcast. I've got the Great Financial Cents podcast to go along with my blog, and I use that stage to find new sponsors and advertisers all of the time.
I still remember getting my first sponsor on the podcast and finding out they were willing to pay $8,000 for me to include a brief clip at the beginning address of each podcast for 90 days. This has been insanely exciting to me in the time since I my response wasnt sure I'd be able to monetize my podcast that much in the beginning. .
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But, there are tons of people making a lot more than me on their own podcasts. Take the Entrepreneur On Fire Podcast hosted by John Lee Dumas. According to the shows most recent income file, this podcast brought in a net income of over $400,000 in March 2018. Now, thats mad.
The key to getting ahead with podcasting is finding your niche, growing an audience, and then finding ways to monetize and connect to sponsors. This isnt the simplest way to make money online since there are a lot of logistics that go into writing, recording, and editing a podcast, but it's still worth considering. .
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Even though the publishing industry was substantial in print, you can finish the entire process of writing, publishing, and marketing a book online nowadays. Websites like Create Space will let you upload and take your book to print without even getting a formal publisher involved, and you can even get your book on Amazon.com so people can buy it there. .
A blogger I know named Joseph Hogue includes a successful blog (My Work Out of Home Money) and also a thriving book publishing business. Hogue has written a few books he's published online to make an ongoing source of passive income. He says that he averages about 685 books sold per month to bring in an average of 1,857 in revenue.
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Another way to generate money online is by collecting leads. The main actions you need to complete to make lead sales work include setting up a site, getting visitors to this website, and making sure you're collecting leads that someone will really pay for.