Monday, January 8, 2007

Making $5000 Per Month Online

Recently, I posted a rather interesting question in a DigitalPoint thread. I asked the outstanding people at DP how I could make $5000/mo online.

Currently, I am making around $3.50/day so I explained that I would need to increase that up by around $164 for a nice $5025/mo. I also explained that I have PHP/MySQL skill and that I'd created websites like BlogFlare.com. Here are some of the ideas that they came up with that I'd like to share with you:


  • Multiply Success

    Essentially this idea means that if you're making $3.50/day with your current websites, multiply your ideas enough times so that you start getting up to that amount. So if you need $167/day to make $5000/mo, just divide $167 by whatever you're currently making per day. That's the formula, and for me it comes out to about 48X which means I'd need to multiply my ideas out 50 times to bring in that kind of income.

    Not only that but I would have to keep them updated somewhat frequently.

  • Create Your Own Product & Market Using Affiliate Sales

    The idea here is to create your own eBook, software, online software, etc. and market it online. For eBooks, you can use something like ClickBank.com to get other people to sell it for you.

    Any of these things can be marketed using affiliate-based sales. This way other people can sell it for you and if it's a great topic, perhaps a LOT of other people will sell it for you. They usually take a bigger percentage for profit but you aren't doing much to sell this way.

    So any way you can do affiliate driven sales, do it. You won't be upset you did.

    Personally, I'm going to write an eBook on how to get traffic to your websites since I am reasonably knowledgeable on the subject. You could write an eBook on anything you're good at. Just make sure to research what you're talking about so people spread the word without you paying them to! ;)

  • Sell Affiliate Products

    You can also be the middle man, as discussed on the previous topic and make a ton of money just selling other peoples' eBooks and such. ClickBank.com is a great way to find eBooks you can sell on your website or blog!

  • Write Hosted Scripts in PHP/MySQL

    If you're proficient with PHP and MySQL like I am, then a great idea is to create a script that many people can use and then put it in a hosted environment for them.

    This way, you can charge for the product, the support and the hosting and group it into several packages if you'd like. Or you can just offer one package and make things simple.

    You can charge anywhere up to $200/mo+ for something like this. If you can get 25 customers, your $5K/mo mark has been met and you can continue the business just offering support. You could even outsource support for around $150 to an online company and only take care of the big support requests, thus freeing up your time.

    And if you know me, I'm all about freeing up time while maximizing income! :)

  • Freelance Programming & Contract-Based Work

    You can find plenty of freelance work on the internet if you take up jobs that pay $500 at a time that take a few days. Just do 10+/month and you have your income.

    A great idea, I will admit but not one I am comfortable with. For me, I'd rather create something that brings me money residually and increases in profit as it continues.

  • Sell A Kidney

    Someone did joke about selling a kidney as they go for $5K or more, but I replied saying I only had two and the cost of living without kidneys would far outweigh the benefits of the two month's income I'd get from selling them. :)

  • Sculpt Your Content/Ads Around Your Traffic

    Not the other way around! So the idea here is to tweak your content/ads to increase income on content you already have.

    This is a great idea because it's something I can test on projects I already have and doesn't require me to manage as many websites if I were to use the multiplying theory.

    If I can get my current income up to $10/day for instance, I only need to multiply my efforts by 17X to get the desired outcome.

  • Don't Use Just AdSense

    If you rely on one ad agency to provide you with all of your income, it's kind of like putting all of your internet eggs in one basket. If you spread yourself over a few networks, you might do much better than if you go with just one.

    A great testament to this is John Chow's article from January 1st, 2007 on using a bunch of different revenue sources which brought him a total of $2790.05. This isn't $5000.00 but it's a start in the right direction.

    Read the article here.

  • Use Email Autoresponders To Generate Cash

    At first, I was thinking the author meant just using the kind of email auto responders you see when you email someone and they're on vacation. Although this is a great way to get advertising to people as well, the idea behind this is to use a service like Aweber.com to set up a mailing list that goes out at intervals you can specify.

    For instance, you can set up a 5-day course on getting internet traffic and people can get one email per day over five days about getting internet traffic to their website or blog.

    In the e-mail, you're smart to include links to your own blogs as well as affiliate links and things of that nature. This way you aren't only helping people but you're also generating income from people that actually ask for what you're offering.

    I say this because the way you get people to sign up is through a sign-up form on your website. This way it isn't like you're spamming. I hate spam.

  • Create An Adult Website

    Believe it or not, someone did suggest this idea. And why not? If it doesn't negatively impact your sense of morality and no one is getting hurt, I don't see the problem with it.

    I personally wouldn't do it, but it is an idea, nonetheless so don't discount it right away.

    The cool thing about this is that you can use Turnkey Adult Sites that cost you about $500 upfront. They provide you with all the content and you own everything else. They update the content every day so people don't get bored and they also handle the credit card transactions.

    The adult industry is definitely going to make anyone money that jumps into it. You can probably make much more than the $5000/month that is the goal of this post. :)

    Just check out what's available in this google search.

  • Start A Retail Business Online

    Someone also suggested earning money the good old fashioned way. Start up a retail business for something you're interested in and after about 8 months, you can be making $5000/mo online if you work full time.

    I agree with this notion and I would not mind going that direction. The trouble is that there are sometimes high up-front costs for creating the business as well as buying the inventory so for someone with a small budget, creating a retail business isn't always the best option.

    I just thought I'd mention it because it's a great idea.

  • Focus On Subscriptions Rather Than Ads

    I think this ties into the creating your own product section of this post, but I thought I'd give this one its own area.

    A great idea is to get rid of ads altogether and go with a subscription based service, as ads only bring you one-time income but subscriptions are recurring and therefore, you aren't losing money.

    If you can come up with a service where you can charge $25/mo, you only need 200 sign-ups over 6 months and you can meet your $5000/mo goal. That's an average of 33 sign-ups per month over a six month period, which isn't bad at all.

    The problem here is coming up with something people will pay $25/mo for. ;)

    A great idea nonetheless.

13 comments:

The Bizarre Jokester (WOW!) said...
This comment has been removed by the author.
The Bizarre Jokester (WOW!) said...

I recently exchanged links with you through The JOKES Blog

Now i've started another blog -
Amazingly Bizarre

Would you like to exchange links with this blog too? Please do!

If u agree, just leave me a comment after linking to me,and i'll link back to u immediately!

Thanks!

:)

The Puppy Training Guru!! said...

Good post.
Well, I couldn't think of anything more to say...it was excellent post.

Anyway, why did it take so much time to post a new entry? I was waiting too long for seeing your new post!

Shirlene said...

Thanks for the summary. I think a lot of people rely on adsense, and reading dp and other forums, this is a bad idea - you shouldn't have all of your eggs in the one basket.

Would you like to exchange links with my money making blog - www.ifyawant.com?

Thanks,

Shirlene

Shirlene said...

Some good ideas. I can see why the adult idea would work. As well as my money making blog, I have a retail directory, and the adult shops always get about 5x as many clicks as the other shops in the directory.

Shirlene

Shailendra Doke said...

Hi

I would like to exchange link with you
if you are intrested then leave a comment on my blog Adsense Optimization Tips after linking to my blog.
I will link back to you.

Thanks!

matt608 said...

Hi,
I have been reading your blog and I found it very interesting. It is on much the same topic as mine and I am wondering if you would be interested in a link exchange. You site would go in the 'my favourite sites' section. My site is called 'Successful Online Money Making !' and is at matt608.blogspot.com

If you are interested just drop me a comment.
Keep up the great blog!

Matt, England.

ashishvimala said...

nice post. some ideas i will for sure use.

kweenkong said...

Incredible info!! I wasn't familiar with a couple of the opportunities, such as eBooks, and your BlogFlare. I'm in the process of registering my two blogs:

http://southsidestar.blogspot.com

http://blogbandaids.blogspot.com

Thanks again for the excellent info.

kweenkong said...

Excellent post, but I wouldn't recommend selling a kidney!

I'll definitely link to this one at Blog Band-Aids the next time I write a round-up.

Thanks and happy money-making. ;-)

kweenkong

http://blogbandaids.blogspot.com

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Megan Earl said...

Wow! I think at some point in time we all wonder " how can I get rich? " ...This could be a potential answer! Thanks for sharing!