1. Flip domain names. Domain names are valuable internet real estate and some people actually make a nice living off of buying and selling them. One strategy is to use Google Adwords to find keywords that are trending and use that information to buy domain names that you think may soon be in demand. However, since short, snappy, or straightforward domain names have already been mostly snatched up, you can also get lucky buying domain names that are random acronyms, as you never know when a person or company with those exact initials will decide to set up a website. (CPC.com, for example, sold for over $200,000 when Contract Pharmaceutical Corporation decided to go online.
2.Do online surveys. Online surveys won’t earn you much apiece, but they don’t eat up much time either and can add up when you need cash in a pinch. Read How to Make Money with Free Online Surveys for more advice.
3.Transcribe audio. Websites are getting better and better about providing written transcripts for the hearing impaired, meaning that transcriber jobs pop up fairly regularly. Transcribing is generally low paying but is also easy, fast, and doesn’t require much commitment. Check eLance or oDesk for current transcription postings.
4.Edit audio. If you have and know how to use sound-editing software, you can clean up webcasts and interviews before they go online. Again, look at a site like eLance or oDesk for opportunities.
5.Become an affiliate marketer. This is a great way to make money for promoting someone else’s products or services without having to carry any inventory. Affiliate advertisements are usually incorporated into your website/blog/page via linked articles (great when your content is strong and compelling, but must be done carefully to avoid looking spammy), product-placement videos (great if you’re funny or have performance talent), or, less and less commonly, banner ads (pretty ineffective, as most people avoid these like the plague). If necessary, you can also become an affiliate marketer without a website (by posting videos on YouTube containing links to the product, for example). Check out a site like Commission Junction for possible products and services.
- If you have a lot of traffic, you might want to do cost-per-click advertising, which doesn’t earn you much per click but banks on the fact that the sheer number of visitors will build your revenue.
- If you have very strong content, you might want to do cost-per-acquisition advertising, which makes you a decent commission (either a fixed amount or a commission, depending on what you’ve pre-agreed to) every time someone on your site makes a purchase with your affiliate company.
6.Become an online mystery shopper. Most people have heard of mystery shoppers in the real world, but with the shift to virtual business, it’s becoming more and more common to send mystery shoppers online-hunting. If you’re just starting out, be prepared to front the cost of your purchases, as your reimbursement will depend on whether or not you are a capable mystery shopper.
7.Sell your music. A few years ago, Radiohead made headlines by selling its latest album via its own website and raking in the dough – for donations, no less. Though your act might not have Radiohead status (yet), many small, independent, and even big-name acts have followed suit: as it turns out, a handful of sales with no middleman adds up to a lot more than what most artists end up with once the record industry has gotten its “dues.”
8.Become a freelance designer. Create a website showcasing your portfolio and build a client list by finding work in the online classifieds. Though it takes more time to get established doing business this way, you can set your own prices and won’t have to share your profits with the graphic design house.
9.Sell stock photos. This is a good way to make money while pursuing a fun hobby. Since people search for stock photos by keyword, your work will be on the same playing field as everyone else’s, meaning you should submit any photo you think is decent. Once it has posted, your work is done, and while you won’t generally make much per sale, having a good number of photos can mean accumulating a nice monthly side income with virtually no upkeep. iStockphoto, ShutterStock, and Fotolia are a few good places to shop around.
10.Create an online store. Selling online is especially useful if you have a niche item that can’t attract enough business to survive in a physical location, but of course online stores for everyday items aren’t going anywhere, either. If you aren’t particularly web-savvy or can be bothered to maintain a website, you can set up shop on a site like eBay or CafePress (for a fee). Otherwise, you can hire someone to design a website for you or even make your own.
