Let's take a look at two of the top proven methods for making money online, and to understand what is involved.
1. Subscription - This involves setting up an online membership site for like-minded people who pay to be members. a link to a like-minded community and/or a niche market and provide valuable content. It can be incredibly hard work to set a forum up and administer it and keep it thriving. However once set up and a vibrant community has evolved, it can be a great way to make money online with minimal effort if you can find good people to administer the forum for you.
Conclusion: Low cost (but build in an allowance for transaction costs per subscription if using paypal or shopping carts), Fairly high technical knowledge to set up the forum or membership site software, Very high ongoing maintenance in moderating, dealing with membership queries and payment issues and keeping the forum vibrant and high added value , High set up time. Biggest challenge = getting a like minded group of people together online and running the forum once live is very time intensive. Yield per unit sale: Low but high volume can make it very lucrative
2. Participation - Here you will be typically be talking about services like mentoring, coaching, conferences, online training webinars etc which can command substantial fees but also an expert status and high web credibility. Unless you already have an offline following, this is not an entry level market place. Typically 'participation' services are upsold to existing online customers once they have got to know, like and trust you and the value you deliver
Conclusion: Low cost (but beware potential costs of pay per click campaigns), Low technical knowledge in respect of online tools abut high technical knowledge in your chosen area, Low ongoing maintenance, Low-Medium set up time but depends what your site is designed to do. Biggest challenge = reaching expert status with a willing market of buyers Yield per unit sale: High- Very high
Of course you can hire professionals/freelancers to undertake almost any task you do not have the time, skills or inclination to do yourself, so do not be put off any of the two strategies above in your quest to find the best way to make money online for you. As with the offline world the biggest issue is finding reliable and trustworthy people at the right price.
------
John Rattigan has been online for 10 years and in that time has created successful info products, runs internet based service businesses and owns a thriving membership site. If you want to discover the shortcuts to online success and get a proven blueprint of exactly how YOU can make money online fast, then download John's free Instant Income Report at http://www.instantincomefreedom.com/?tid=SYA3