The New Gold Rush
Every generation or so, certain factors come together so that new opportunities to create wealth are created in new markets. Whether it is gold, land, plastics or computers, a door will open. Those who make it through the door will often be carried to success on a wave of innovation or new market demand.
The Internet is the Gold Rush of the 21st century. It has already created new wealth for thousands, with thousands more to come. What is intriguing about the Internet is that the opportunities are so broad and diversified. In fact, one of the driving philosophies is to find narrow niches within which to become dominant.
The incredible range of opportunities continues to grow. Some see the Internet as a way to make a few dollar a month in spending money. Others want to replace a full time job. Still others seek to become independently wealthy.
Here are just some thumbnail blurbs about 19 business models you can pursue to make money online:
1) Writing articles and blog posts. The demand for content has created income opportunities for writers of every level of skill.
2) Writing and selling eBooks. Numerous individuals are selling tens of thousands of dollars of eBooks a month. This market will be huge.
3) Affiliate marketing. This is one of the largest opportunities on the Web. You don’t have to have your own product. You can make a fortune selling a digital product created by someone else. No inventory and no shipping hassles with this niche.
4) Blogging. Build a following by providing timely information to a group of followers.
5) Membership websites. Provide a product or service that people will pay a subscription fee to use.
6) Software and apps. This is an unlimited field as more people are online and using smart phones.
7) Podcasts. Creating a virtual radio program with your own material targeting a niche market
8) Coaching. Once you start making money, teaching others how to do the same.
9) Consulting. Work with small companies to get them online and successful with websites and social media.
10) Freelance work of every kind. Hire yourself out to a worldwide market. Or you can wholesale the skill of others.
11) Videos. It started with YouTube and now has incredible growth potential.
12) Adsense and Adwords. Use yourself to monetize websites and teach others how to do it themselves.
13) Website creation and support. Millions of new sites are needed each year. Tens of millions require upgrades and maintenance.
14) Content creation and sales. Every website needs quality content. Many of them are outsourcing the creation of the content.
15) Niche sites. An area poised for explosive growth
16) Crowd source funding. A revolutionary way to have a network of individuals fund any conceivable idea, business or creative project.
17) Auction sites. eBay paved the way and hundreds are following with their own strategies.
18) Classified Ads. The yellow pages are dead. Segmented online classifieds site are booming.
19) Local niche marketing. Pick a category that you like or have a special interest in. It can be a hobby or something new like reputation protection.
The basic strategy in each business model is to create a following, achieve visitors or traffic, and convert a reasonable number of visitors to customers. These are the three C’s – Content, Community, and Commerce.
The explosion of social media makes the process of building large networks of prospects and customer achievable by anyone.
A major attraction of online business is the ability to create multiple streams of income. Many of these streams can provide recurrent, passive income. Your creativity and willingness to work hard are the critical factors.
Although the Internet should not be seen as a “get rich quick” opportunity, that result is truly possible. Invest a little time and decide how you want to make money online.
About the author: The author is helping various businesses and companies with their online reputation management for over 5 years. Through coaching, they have learned which techniques are most important and how to deploy their own plans.