The formula for profit is very simple: income – expense = profit. Your website can increase your profits by increasing your income directly (generating more sales, leads, increase closing rate), or by decreasing your expenses (time, electronic delivery, customer service), or by doing both. In other words, there are lots of different ways for your website to be profitable. For service businesses, one of the largest opportunities beyond generating leads is to increase the closing rate by using the website to properly setup the sales conversation. In other words, your website should be providing you with tangible results.
Normally you’ll be asked to test a few websites by visiting them and to document and record your reactions and thoughts as you go through it. It’s really easy to get set up making extra money online by testing websites. All you need to do is sign up to the following services: UserTesting.com, Userlytics, TryMyUI, Userfeel, TestingTime (UK only), or Side Income Jobs.
Cryptocurrency or digital currency is the next big thing in currency trading. It’s a digital asset that is used as a method to pay for things, that isn’t run by a government or institution. Bitcoin is the most well known digital currency and was trading at $200 per Bitcoin back in 2013. Now it is worth over $17k and is expected to be worth well over $1m in 2022.
Proz.com is a site where you can get paid to translate all kinds of documents, including files and even conversations. The site provides you with an opportunity to list your services as a translator. They offer opportunities in Spanish, German, Italian, Chinese, Arabic, Japanese and other languages, and specialize in legal, medical, technical and other fields.
I have 3 VAs. I couldn’t function without them. It doesn’t matter how big or how small a business is, they all need help running their day-to-day administrative tasks. Virtual assistants perform a variety of tasks that a traditional assistant or secretary would normally do, including making travel arrangements, paying bills, or managing expense reimbursements. I use them to upload content, optimise images, brief writers etc.
Creating good products that are well made and polished require a ton of time and additional resources (like design, content, etc.). There’s a lot of ‘hidden costs’ in both time spent and the contractors to collaborate with. Selling your own products on your site also brings up problematic issues like payment gateways (how are you going to collect payment?), shipping (how are you going to mail or distribute the products?) and taxes (oh man, don’t even get me started with that one!).
There are many freelance options for graphic designers who are looking to make money online. Designing layouts and graphics for promotional material, corporate reports, magazines or book covers, are all tasks that businesses are looking for online freelancers to complete. Due to its flexible nature, graphic design possibilities can range from one-off projects, to ongoing work with regular clients.
A fitness site can have numerous revenue streams. Create healthy eating plans and recipes and lock them away as premium content. Promote and sell a fitness training course, eBook, or a series of videos. Or advertise your own personal fitness services on your site. Topfithub is a good example of a fitness site with decent video content alongside product reviews.
A website called AchieveMint gives you points for engaging in healthy activities, like exercise, tracking your eating habits, or even taking health related surveys. Points can be redeemed either for cash (10,000 points are worth $10) or for Amazon Gift Cards. The app actually connects with other health apps, like Fitbit and MyFitnessPal, to track your progress.
Your website should help people learn more about how you can help them so that they self-select and come to you pre-sold. This is how you increase the percentage of prospects that become customers. This doesn’t happen by blathering on about you and your company – it happens by engaging with people through your website about what is really on their mind – making it easy for them to get the information they are seeking, their questions answered, all the while increasing your position in their mind as a trusted authority. Done right, a website can be an extremely powerful tool to help properly setup the sales conversation so that by the time the conversation actually takes place, the prospect has already determined that your business is the one that they want to work with.
Since time is the most precious commodity on this earth, invest the time at the front-end so that you can reap the benefits on the back-end. This means putting in a bit of sweat equity and not getting paid today. Rather, you'll get paid somewhere down the road. And you'll continue getting paid whether you keep building that passive income stream or you stop. It's obvious that this is the preferred route, but clearly the road less traveled.
Last but not least, you can also earn money online by building an online community, although the monetization strategies you can pursue will vary a lot depending on your goals. You can build a community with a blog, for example. You can also build an online forum and charge people for membership. You could even build up a Facebook group and use your influence there to sell and promote products.