1. Treat It As A Supplementary Income
You can always Make Money Online as a hobby at first, supplementing your real, offline job. Even if you become redundant, you’ve got yourself an income, albeit a small one at first.
2. No Initial Investment
You could start off with a free Blogger blog – it doesn’t cost you anything to start one up, except for a bit of time. Remember, time=money. The more time you spend creating your blog, the more (likely) you’ll make more money online. It’s a balance of being a couch potato on your computer all day (like ShoeMoney was) and earning thousands, or having a life and still making some money online.
3. No/Extremely Low Overheads
My overheads are exactly $7.65 per month, which is basically just the hosting and domain cost. Now compare that to starting your own McDonald’s franchise or shop, what are your overheads there? I would estimate that to be in the range of $10,000 and upwards. Now imagine what happens when you lose all your money and need to declare bankruptcy? Even if you decide to quit blogging after a while, the loss wouldn’t have of amounted to a large sum.
4. Exponential Income
My overheads have roughly stayed the same over the past few years, although my profits have risen in an exponential manner.
5. High Profit Margins
Because of your low overheads, you tend to make up to 98% of your money coming it. Your overheads are that small.
6. Show Off To Your Friends
Not many people can proudly say that Made Money Online (successfully with a profit) to their friends. This is one of my favorite quotes:
Entrepreneurship is living a few years of your life like most people won’t, so that you spend the rest of your life like most people can’t.
It may cost you a lot of your time in the beginning (something that the majority of people are not willing to invest in), but the end rewards are huge and satisfying.
7. Only Basic Knowledge is required
Making Money Online as an investment is relatively easy to do – anyone with a bit of a technical knowledge and a bit of business know-how can easily be profitable. In fact a lot of information can be available freely online, free of charge. A simple Google search will do the job. The one basic rule that I’ve always stuck to is to never let your overheads be higher than your profits. It’s simple but it works.
8. On Autopilot
Once you’ve got your “system” running, whether its a blog, site or app, the income will keep rolling in, even after a few months of not working on it. To be honest, this blog post is the first in a year – partly due to my laziness and the amount of money still rolling in without writing anything.
9. Low Cash-Out Amount
Many companies require you to reach a certain threshold before they make a payment to you. In the online (especially the advertising and affiliate industry), these rates are normally really low, at around $50 or less. This makes it easier for just about anyone to hop on the boat and join the party. Even though your first income may be small, don’t give up. It will be double or triple that in a matter of months.
10. Easier To Evade Tax
You are legally responsible to declare your income to your relevant tax authority. Yes, obviously it’s easier to evade taxes online than offline. It is obvious that you can select a country other than the United States, making the (usually US-based advertising companies) ineligible to “reduce” your income with tax. You may start to feel guilty however, when you’re filling out your W-8BEN IRS form, instead of the W-9 .
But as someone living in Hong Kong, I am not charged any Profits Tax. It is clearly stated by my Inland Revenue Department:
No tax is levied on profits arising abroad, even if they are remitted to Hong Kong.
Read your local laws first!
What’s next? Where do I start? Head over to my Make Money Online page.
You may never Make Money Online within your first week, month or even year. I was paid my first check after 7(!) months of blogging, earning nothing during these 7 months. Now, I make over 10 times that amount every month.
P.S. NEVER EVER buy an eBook online. They’re all scams. Everything they tell you in them can be found online, free of charge.
MyLikes is a brand new Twitter Advertising Network. Again, with all advertising networks, some tend to be scams.
Here’s a quick overview of MyLikes:
MyLikes makes it extremely easy for you to earn money from Twitter ads, regardless of how big or small your number of followers figure is. I understand that the other networks that I have introduced in the past may be more suited to people with large number of followers (e.g. Sponsored Tweets, ad.ly) where they pay you per tweet. With MyLikes (like RevTwt), they pay you per click. And it’s not just $0.001 per click or something ridiculously low. They pay a whopping $0.5 a click. Two clicks could buy you a McDonald’s burger already.
Here’s something about MyLikes that’s also unheard of in the Twitter Advertising Industry: A $2 minimum payout. Some networks have higher payout rates, which means smaller publishers may have to wait a long time before being able to cash out. That’s not the case with MyLikes.
How do I know it’s not another scam? Well here’s why:
1. I have personally received payment from MyLikes. Here’s a screenshot of my PayPal payments from MyLikes:
So far I have made $165.97 just from MyLikes ads, from my followers clicking on the links.
This Is NOT a scam.
2. The company MyLikes is actually founded by two ex-Googlers, the former tech lead for AdSense, Arvind Sundararajan and his wife Bindu Reddy, the former head of product management for Google Apps. That’s right. I told you their names. You could knock on their door demanding your money
3. Discloses are compulsory. MyLikes won’t be a company that the FTC will be chasing anything soon for its non-compliance of its rules.
4. Their system only allows you to tweet up to one ad per day. This will cut the chances of you spamming your followers, as well as allowing your account to be potentially suspended by Twitter.
If you sign up for a MyLikes account, you’ll get a chance to win an iPad every month. Sign Up below:
How’s your earnings amount? Tell me in the comments below.
This is a Guest Post by Margaret Jules.
As with anyone owning a blog, Search Engine Optimization (or SEO) is extremely important for increasing the traffic to your site. Your rankings in Google can highly affect your traffic rate. Here’s how you can maintain your ranking after Google’s latest Panda Algorithm change, in which sites with low quality content or large amounts of advertising will have lower rankings.
As a site owner, you very well understand the importance of informative content for your site or blog. Google is now seen giving more stress over such content. The latest changes seen in Google’s algorithm under Panda 2.5 seems suggesting that different websites carrying duplicate or low quality content are likely to be penalized by the search engine. This is not a new phenomenon, however, this time you are required to remain more alert for better search results. In this way, the issue of quality copywriting seems to be more relevant in the present context. So, whether you write for your own website or simply are engaged as a professional copywriter, you are supposed to consider the points below to fulfill the demands of Panda 2.5.
Make your goal simple
If you are working for any client, it is better to speak to him or her about their business goal and include them in a form of two or three vital ideas into your main array of content. As per any serious reader’s perspective, customers are simply not interested to get things in a complex fashion; they are keen to see a clear, concise and to the point description of anything the site is catering. For the bots, a simple page layout with minimal outbound links is advisable.
Select keywords with great care
In any smart and witty SEO campaign, you are supposed to decide your keywords with lots of care and caution. The keyword density too has to be monitored; you are supposed to keep it between 1.5 to 3.5 percent. Now, content with overstuffed keywords do not go unnoticed, thanks to the latest strict rules of Panda 2.5. Also, your Meta data and content should match along with eliminating any keyword seen in your headers, titles, and descriptions as these things could be misleading. If you promise your users with something which you do not cater will certainly give low search engine ranking placement. As the days progress, these numbers would turn out to be more relevant in the future update peruse.
Write useful content worth sharing
Now, when you write content for your site, you are supposed to create it worthy for your users to be shared across their network. You are required to integrate your main social network into your web page; hence you are required to write on a regular basis which your target audience wants to read. Now, as you see content being available readily, you are basically advertising your website all the time when you create or write a new content. You are supposed to review your homepage and see whether the content is meant for your target audience and check the way it benefits the people visiting this page. If you see that it fails to cater the audience, you are supposed to change it. Similarly, review your internal web pages of your website and customize it accordingly.
Some other points
Your webpage should have more text than HTML code. This is among the most common mistakes committed by webmasters and designers. Though the real percentage is somewhere irrelevant, yet the number of HTML code would hamper the loading speed of your website which is certainly an important element. Secondly, videos which are commonly seen over different sites should be relevant. Any video which doesn’t match with the content and objective of your site are more likely to be penalized by the latest update of Google.
The SEO consultants hardly get an edge over one Panda update when suddenly some other latest update embarks and hampers the entire things around. The best solution at this juncture for any competent copywriter is to keep themselves (and their clients) updated. These points discussed above would certainly help you to tame the Panda updates. Meanwhile, keep exploring these things in detail to get penalized by these search engine updates.
About the Author: Margaret is an internet marketer/blogger. She loves travelling, meeting new people and SEO Services. These days she is working on feature that is related to SEO Morpheus that has affected due to recent Google and penguin update.
For those who are interested in running an online business, there are a number of different ways to go about setting up an e-commerce shop. Some choose to go the self-hosting route, although this can be difficult if you have no background in web design and site optimization. Others will want to use an e-commerce platform, but with the variety of options out there in this department it’s important to narrow down what you are looking for in a program before you sign up.
Examples of the most important features to look for in e-commerce software for internet entrepreneurs is a customizable design, integration with third-party analytics software, and an easy one-page checkout process. Currently used by over 25,000 online stores, the Shopify ecommerce platform is one solution that ticks all of these boxes.
Website Set-Up Features
One of the primary benefits of Shopify for those who have never run an online store before is the website wizard feature. This helps walk you through the entire set-up process of the site. There are over 115 different templates that users can choose from, as well as the option of incorporating your own designs. All of these templates are customizable, which is a bonus for those who want the ease of a template without the generic look that some can give. You can add in your own blend of fonts, colours, logos, and layout. Banners and slide shows can be added as well. Internet entrepreneurs need to be on the hunt for ways to stand out from the competition, so customizing your e-commerce website with these tools is important.
Another useful feature that this software has is the centralized management dashboard, which gives you all the management tools that you need in one place. From here, you can add details to all of the items listed in your inventory, add new items and organize them using the unique “collections” feature, and update images and descriptions. In addition to managing inventory as needed, the platform also allows you to manage your content. Most e-commerce entrepreneurs will want to keep a blog as part of their marketing efforts, for example, and this can be managed through the central dashboard as well without the need to use a separate hosting service.
Integrating a payment system is one of the trickiest aspects of running an e-commerce site. This is a major benefit of using an all-in-one platform like Shopify, which allows you to easily set up a one-step checkout process on the site. You can enable credit card payments online and integrate your site with over 50 payment gateways, including Paypal.
Internet Marketing Features
Users gain assistance with online marketing, with Shopify‘s built-in SEO features. The system has a SEO-friendly CMS that allows customizable H1, title, and meta tags. It also can automatically generate sitemaps, so that when you update your site these changes will show up on search engines quickly. The program can be fully integrated with Google Analytics, and provides a discount coupon engine to give customers defined coupon codes. New users get $100 of Google AdWords credits and $50 credits of Facebook advertising, which means your first 5 months are virtually free with the Basic Plan!
The software also has its own analytics program, to help you track your customers. You can filter a list of clients who have spent the most money in your store, and then use this list for social media and email marketing campaigns. Users also receive statistics regarding who is visiting their shop, where they come from, and how many times they visit.
Whether you are an e-commerce newbie or have more experience in this department, Shopify has many commendable features to help get your business off the ground.
Are you using Shopify? Tell me about your experience in the comments below!
Well that was the end of that decade. Here’s my new year resolution: I seriously need to blog more. I swear to myself that I’m going to blog at least once a month here in 2011. We’ll see about that All I can say is that 2010 was a great year in terms of my earnings (I earned slightly more than 2009) although my university course was a load more demanding than I thought, which lead to the demise of blog posts.
Here’s what’s going to happen:
1. Brand New look to JoshLam.com
The current blue theme is starting to look outdated. I am currently developing a new, modern look which should appear in February.
2. More blog posts!
As I stated in my New Year’s resolution, I will try to blog as least once a month.
3. Bigger focus on Entrepreneurship and Social Media Marketing
Rather than focusing on Internet Marketing, JoshLam.com will now focus more on Entrepreneurship and Social Media Marketing, as well a bit on the Hong Kong start-up scene. Stay tuned.
Oh yeah, there’s a contest to start this year off with a bang. I have a 15 Hip Digital digital music downloads to giveaway. Simply leave a comment below stating your New Year resolution and I’ll randomly pick a winner on January 30th. Good luck! Please use a valid email so I can contact you if you win.
Good luck and Happy New Year!