This article was co-authored by Michael R. Lewis. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin. This article has been viewed 8,430,932 times.
Find Your Niche and Set Goals. Start by choosing a strong niche for your website. It should be a subject with which you’re personally familiar. Identify and research potential competitors’ content strategies, traffic figures, and monetization efforts. Next, set basic goals and parameters for your flip, including length, traffic target, revenue target, and target sale price.
Provide excellent customer service. Answer any questions buyers post as quickly as possible. Be professional and courteous. Positive communication builds your reputation with buyers and gets you to return business. Also, package your product well and ship it out quickly. Allowing an item to become damaged or taking too long to ship can negatively affect your reputation among buyers. Wrap all items, especially fragile ones, in appropriate packaging. Commit to shipping items as soon as you receive payment.
Another way to utilize your talent and business skills is to run corporate workshops online. Businesses are always looking for unique ways to help educate their workforce, and if you can package your talents into a day or half-day long session, you can sell that to companies all over the world to make money online. Start by building a portfolio and then reaching out on LinkedIn to influencers at relevant companies to see if they would be interested in you teaching their team.
Instead, go with a self-hosted site (like my blog here is)—this means your blog will be hosted on your own server and you’ll have full control over it. There are tons of highly reputable, affordable companies you can choose a web hosting plan with to get your website online, like Bluehost, A2 Hosting, Dreamhost or one of these monthly web hosting services.
Recording Your Work. If you’ve already written a book, you can leverage an entirely new revenue stream by turning it into an audiobook. It doesn’t have to be your voice on the recording. In fact, unless you have voice acting or radio experience, it’s better to hire a trained voice actor. Reputable platforms like ACX typically have low production costs and innovative royalty-sharing arrangements that maximize rights-holders’ (writers’) income potential. Check Publishers Weekly for a list of platform options.
You know those top-down cooking or craft videos you just can’t seem to get away from these days? There are people out there making a living from them, especially those that also run their own food blogs or travel blogs. In fact, a whopping 78% of B2C companies depend on user-generated content (like these videos) for their marketing campaigns. You can sign up as a creator on a site like Darby Smart and potentially work with brands like Nordstrom, Mattel, and BarkBox. Or, learn how to master PPC advertising and you can use the content to build your YouTube following and monetize through ads and views.
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Real estate can be a profitable investment opportunity, but many people don’t know how or where to start. It’s also common for aspiring real estate investors to be scared away because of the upfront capital requirements. While it’s true that you do need some money to invest in real estate, technology has made it easier for investors to get up and running with just a few hundred dollars.
5. Fiverr – Fiverr is a great place to make a few bucks or spend a few bucks if you need some of the services people offer. Basically, everything is $5. You either pay $5 or charge $5. They call them “gigs.” You can offer your services however you choose. If you sell art and you’re fine selling pieces for $5 each, that’s a gig. If you’re a graphic designer and you want to offer your services for $10/hour, simply offer a 30 minute gig. If they need two hours of graphic design, they pay you $20, or $10/hour by buying four gigs.