Flip domain names. Domain names are valuable internet real estate and some people actually make a nice living off of buying and selling them. One strategy is to use Google Adwords to find keywords that are trending and use that information to buy domain names that you think may soon be in demand. However, since short, snappy, or straightforward domain names have already been mostly snatched up, you can also get lucky buying domain names that are random acronyms, as you never know when a person or company with those exact initials will decide to set up a website. (CPC.com, for example, sold for over $200,000 when Contract Pharmaceutical Corporation decided to go online
Do online surveys. Online surveys won�t earn you much apiece, but they don�t eat up much time either and can add up when you need cash in a pinch.
Transcribe audio. Websites are getting better and better about providing written transcripts for the hearing impaired, meaning that transcriber jobs pop up fairly regularly. Transcribing is generally low paying but is also easy, fast, and doesn�t require much commitment. Check eLance or oDesk for current transcription postings.
Edit audio. If you have and know how to use sound-editing software, you can clean up webcasts and interviews before they go online. Again, look at a site like eLance or oDesk for opportunities.
Enter contests. Since you won�t get paid unless your entry wins, search for a wide range of free contests in a field where you�re already have a lot of possible entries (ex. photos, logo-making, background design) and submit your work to as many places as will have you. It might take a day to get through all of them, but even a few small successes (or, preferably, a great big one) will make up for it. The experience might even steer you in a new creative direction.
Make Money through Online Marketing
Become an affiliate marketer. This is a great way to make money for promoting someone else�s products or services without having to carry any inventory. Affiliate advertisements are usually incorporated into your website/blog/page via linked articles (great when your content is strong and compelling, but must be done carefully to avoid looking spammy), product-placement videos (great if you�re funny or have performance talent), or, less and less commonly, banner ads (pretty ineffective, as most people avoid these like the plague). If necessary, you can also become an affiliate marketer without a website (by posting videos on YouTube containing links to the product, for example). Check out a site like Commission Junction for possible products and services.
If you have a lot of traffic, you might want to do cost-per-click advertising, which doesn�t earn you much per click but banks on the fact that the sheer number of visitors will build your revenue.
If you have very strong content, you might want to do cost-per-acquisition advertising, which makes you a decent commission (either a fixed amount or a commission, depending on what you�ve pre-agreed to) every time someone on your site makes a purchase with your affiliate company.
Become an online mystery shopper. Most people have heard of mystery shoppers in the real world, but with the shift to virtual business, it�s becoming more and more common to send mystery shoppers online-hunting. If you�re just starting out, be prepared to front the cost of your purchases, as your reimbursement will depend on whether or not you are a capable mystery shopper.
Do webinar marketing. This is simply seminar marketing done online � except that it�s much cheaper than doing actual seminars and doesn�t require repeat performances. If you�re an authority on a subject that others would be willing to pay to learn more about, record yourself giving a talk about it in a professional location (traditionally a conference room, though this may change depending on your subject), post it on your website, and advertise.
Refer other professionals for jobs. If you know somebody whose skill and work ethic you�re willing to stand behind, consider referring them to a prospective employer. If that person gets hired, you stand to make anywhere between fifty and a few thousand dollars depending on the position. Check out a site like ReferEarns or WhoDoYouKnowForDough for more information.
Make Money through Online Content
Sell your music. A few years ago, Radiohead made headlines by selling its latest album via its own website and raking in the dough � for donations, no less. Though your act might not have Radiohead status (yet), many small, independent, and even big-name acts have followed suit: as it turns out, a handful of sales with no middleman adds up to a lot more than what most artists end up with once the record industry has gotten its �dues.�
Become a freelance designer. Create a website showcasing your portfolio and build a client list by finding work in the online classifieds. Though it takes more time to get established doing business this way, you can set your own prices and won�t have to share your profits with the graphic design house.
Sell stock photos. This is a good way to make money while pursuing a fun hobby. Since people search for stock photos by keyword, your work will be on the same playing field as everyone else�s, meaning you should submit any photo you think is decent. Once it has posted, your work is done, and while you won�t generally make much per sale, having a good number of photos can mean accumulating a nice monthly side income with virtually no upkeep. iStockphoto, ShutterStock, and Fotolia are a few good places to shop around.
Sell an ebook. eBooks are not for everyone, but if you�ve ever found an innovative solution to a desperate situation and wished you could have simply paid someone to give you the answer sooner, it�s likely there�s a market out there for an ebook on the subject. Shop around to see what else is available and look for people posting in forums with similar issues. Don�t waste your time writing an ebook about something someone can readily find answers to; it�s something you want to reserve for people who are at their wit�s end.
Sell an app. In a multi-million-person marketplace, $1 or 2 per sale can go a long way. If you have a great concept but no programming know-how, it might even be worth it to hire a programmer. Just make sure you shop around for similar ideas, find ways to one-up your competition, and comply with the rules of the company on whose devices you�d sell the apps.
Sell articles. Lots of small businesses, websites, and marketers need good written content and smooth keyword integration to help them get more traffic. Though you won�t make much to start with, most articles will only be 200 to 300 words, which are a snap to crank out. As you prove yourself to be capable, you can start charging more for your services. If you�re a skilled writer, you might even try submitting your work to formal publications.
Make Money through Online Sales
Create an online store. Selling online is especially useful if you have a niche item that can�t attract enough business to survive in a physical location, but of course online stores for everyday items aren�t going anywhere, either. If you aren�t particularly web-savvy or can be bothered to maintain a website, you can set up shop on a site like eBay or CafePress (for a fee). Otherwise, you can hire someone to design a website for you or even make your own.
Create a virtual store. Believe it or not, vendors selling virtual items from within online games can make money in the real world. By creating an avatar of yourself and setting up shop, you can do business with other players (or even just advertise your real-world business). Of course, you must first find a game that allows it and pay to set it up, but once you�re in, you can reach a huge range of people in various age groups and locations around the world. MMORPGs (massive, multiplayer online role-playing games) are especially good places to do this.
Pointers when Working Online
Make a good first impression no matter which type of online endeavor you attempt. As with any business, your brand (web site, store, virtual portfolio etc.) must grab the prospects attention, enticing and encouraging him/her to learn more. A strong brand should include intelligently and insightfully written copy, a description of your offering, product overview, news and information and numerous opportunities to respond (call to action).
Differentiate your product/service from the competition. Consider what makes your business unique by focusing on the brand, the specific suite of services and how the product or service will solve the customer�s problem. Punctuate these differentiating factors in order to set your brand apart from the rest.
Maintain a friendly, approachable tone. You want to invite your customer to interact with you so be sure that while the copy on your site or portfolio should be informative, it should also communicate a friendly tone that will motivate communication and interaction with your customers.
Have a solid contract with your partner company. Enlist the assistance of an attorney or have a lawyer review your partner company�s contract so you know how you will be paid and the basis for payment (for example if it based on produced work, solid sales, sign ups, conversions, referrals, etc.).
Follow up with clients after an initial interaction. Because you haven�t had the benefit of face-to-face meeting, you will need to be proactive (but not a stalker) online. After an initial meeting with a client, send a thank you email a few days later to remind the client about your meeting. Open the floor to additional questions and let your prospective client know you are excited about the possibility of serving him/her.
Optimize your skills and knowledge in order to create a strong online presence. Although you may be a talented salesperson or graphic designer, you may not know how those talents will translate online.
Take an search engine optimization course. Either online or possibly offered at your local community college, learning about search engine optimization (SEO) is an important component to a successful online career. SEO training will teach you how to position your brand or store higher on Google search engine rankings so your business is hit first when potential clients are performing a search.
Write a business plan. Even if the business plan will never leave your computer, creating a plan will give you specific direction and goals, which will help you stay on track and focused.
Consult with experts. If you have a friend or colleague who has had success making money online, tap into his/her knowledge and experience. Find out what has worked well or what he/she has tried that bombed. Extract as much knowledge and insight to help guide you in how you will create your online business.
Make sure you have the dedication and focus to work independently. If you plan to make your online money making endeavor a success, you must have what it takes to manage your time and be dedicated to your craft.
Examine your financial needs. Do you need to make a large income or are you interested in making money online just to have some mad money? The level of required income will most likely dictate the amount of time and effort you�ll need to spend making your online business a success.
Evaluate the amount of time you can dedicate to your online business. Are you a stay-at-home mom with two small children and a demanding school and housekeeping schedule or are you single with no strings attached (or somewhere in between)? Identify the hours during the day you can commit to your business and compare those hours to the amount of money you need to make. Typically, especially with some businesses, the earlier months and years are considerably more time consuming, especially if you are building a client list.
Be honest about your work habits. Are you a self starter, motivated enough to stay on task and work without having a boss check on you, or are you easily distracted by the phone, kids or other environmental disturbances? Working online takes a tremendous amount of motivation and focus in order to reach your cash generating goals.
