Making Money Online - The Reality
88It sounds so tempting. You're sick of your job - or perhaps you're stuck at home through illness, or keen to stay at home with your new baby - and all over the internet, people are telling you how easy it would be to set yourself online and make millions. Or at least, make a good living. Surely they can't all be lying?
No, they're not all lying. I've been writing on the internet for nearly three years and I know it's possible to make a living online. But the picture of an internet entrepreneur sitting back with a glass of wine while his websites earn income effortlessly is a myth - making money online is hard work, and in the early days, it's likely to require even longer hours than you currently work in your regular job.
That's why I decided to go back to my "day job". You may not have that option, and if that's so, I'd like to reassure you that you can make a living online. However, it's likely to take two or three years of dedicated, full-time effort before you can hope to live on the "passive income" that the internet marketers promise you. And you have a big learning curve in front of you!
Making a living on the internet has several attractions:
- You don’t have to answer to a boss
- You can work from home
- You can travel the world, so long as you can get access to the internet.
It’s naïve to think you can find a job that has all these advantages, and is easy and effortless at the same time. For one thing, you are only one of millions of people who like the idea, so there’s a lot of competition out there!
"But", you say, "I can show you a hundred websites which tell me making money online is easy!"
Well, most of them aren’t lying when they say you can “make money”. People do make money at MyLot, because 3 or 4 cents is still money. You can earn 20 cents per article per month at Helium or Bukisa if you’re a good writer – it’s not a lot of money, but it’s still “making money”. The same goes for survey sites. All these sites would argue that if you choose to read "make money" as "make lots of money" - well, that's your own fault!
If you're thinking of joining a site like HubPages or Helium, do your research first on what pay-to-write sites are really earning. Bear in mind that most of these sites pay commission. A lot of people join revenue-sharing sites, then realize they can make more money persuading other suckers to sign up, than they can make actually contributing to the site!
Personally I find HubPages is miles ahead of any other revenue-sharing site I've tried. It takes more work to get set up, and there's a learning curve to writing the Hubs - but for that reason, it's an excellent way to learn the ropes, and means you're much better prepared when you're ready to start your own website or blog. I should disclose that I also get paid a commission for recommending HubPages, so don't take my word for it - you'll find plenty of people openly discussing earnings on the HubPages forums.
However, no revenue-sharing site is going to give you a livable income on its own. To have any hope of earning enough to live on, you have to create your own websites or blogs.
Think about it for a minute. If all these people are so rich, why do they need to make extra cash by selling their ideas to you?
Could it be that it’s more profitable to sell their business ideas to other people, than it is to actually put them into practice?
Don't think, though, that having your own website or blog is an automatic passport to success.
Bear in mind that some "successful" internet entrepreneurs aren't being entirely honest. I've met people who claim to make a living blogging, but their idea of "making a living" is very different from mine! A common boast is that they're making enough to afford a "permanent holiday lifestyle". BUT - look more closely and you realize they live in a low-cost holiday destination where they live a quiet life. Whereas my idea of "making a living" involves a nice restaurant meal occasionally, and some money to put aside for my old age.
And of course, some of them are flat-out lying - if they want you to buy their $49.95 e-book, they're not going to admit they're not making money, are they?
Before you rush out and pay for any courses or e-books, ask the seller to show you their own successful blogs and reveal how much they're earning. In many cases, their only blog is the one you're reading - they're making all their money selling courses or e-books to suckers like you!
Even those who are genuinely making money usually owe their success to coming up with a unique and original idea for their website/blog. Sometimes that success is enduring, but sometimes it's short-lived because their success is noticed, and hundreds of other people jump on the bandwagon. That's the point at which they start looking for other ways to keep the income flowing in.
And as many charlatans have worked out, the easiest way to make money on the internet is to write about how to make money on the internet. It’s a vicious circle which preys on vulnerable people.
I know several people who do make a good living on the internet. What they all have in common is a determination to succeed and a wilingness to burn the midnight oil.
All of them spent around two years working long days on the net, educating themselves, developing their business and promoting it. Most of them worked a day job as well, because their online business made no money to start with.
If you're hoping for something that will earn you a living without putting in a full day's work, you may find it on the internet - but only after have put in the groundwork by working long hours for a year or two.
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All text copyright Marisa Wright. Photo courtesy of rkimpeljr on Flickr.
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Comments
Well, I didn't say all the good ideas had been taken, just that you have to be creative enough to find those good ideas. I agree you can take an overseas idea and rework it for local consumption - but does that really work on the internet, which is so international?
"Think about it for a minute. If all these people are so rich, why do they need to make extra cash by selling their ideas to you?"
That's the crunch. That's what we should be asking ourselves when we are invited to any scheme. Our desire to make money drowns our good sense.
Thanks for pointing it out so clearly!
Nice hub. Very good analysis. Thanks so much for this.
Fantastic Hub, I'm totally going to have to bookmark this page.
That's a classic. Buy my e-book telling how to make money. The e-book tells to write an e-book about making money :)
Sounds like good advice to me. It's only common sense; you rarely make big money without making a big effort -- and using your talent and resourcefulness.
Bloggerdollar - yes, that's exactly what I mean. This article is my most read out of all of my HubPages - so if I was in this to make money, my obvious route would be to write more articles about how to make money. Which is exactly what thousands of people are out there doing right now!
I agree say 95%, believe there is a tad cynicism there
....No! You think?
The sad part that comes into this mix is that there are a lot of desperate people out there needing to make extra money and they scrape together the money to get this e-book for 49.99 and then they still have not resolved their financial problem...there has to be something that can be done to protect all from this onslaught of false promises...
Great HUB Marisa
regards Zsuzsy
Zsuzsy, that's exactly my concern. I've seen posts on forums from people like that, who would be far better off looking elsewhere for a solution to their financial problems. Spending hours on the net in the hope of elusive riches only makes the problem worse.
Great overview.
People do sometimes sell information that will help you make money today, particularly if it's in area where competition won't harm them and they can add several thousand a month to their income.
However, most of the time the claims fit your reasons. In fact, sometimes the claims are plain lies, or past earnings from doing something else falsely attributed to strategies in a new product.
An extremely good read! Thanks!
Good overwiev. Though, many people still click on that "Sign up now!!!" links...
Ink, I can't think of a single business where competitors can't harm you - and internet business is still business. No successful businessman wants to give away his competitive edge.
Marisa,
With the amount of material you have posted here, you could easily mke a living online by building a few topic specific websites with 5-6 articles each and then using all of your other material to submit to article directories and sites like Hubpages for linkback power to boost a site's Google ranking.
Remember that here on Hubpages you're only getting half of the adsense exposure, Hubpages splits impressions with you, and on your own sites you can also add affiliate offers that would pay anywhere from $20-$30 a sale.
Not that you should leave Hubpages, but the same amount of effort into your own site would lead to a lot more money. Any Hubber who has 200-300 hubs already had enough material written to probably quit their jobs in a few months if they applied it to their own sites. I wish some would sell me all their hubs.
Makemoneyinternet, how much money are you making? I do have my own sites and use HubPages for backlinks to them. They are starting to give me more income than HP but require a lot more effort. HP is great because yes, I have to split impressions, but I get traffic without having to put in the hard work of backlinking. So as a return on investment, the pay is comparable.
I'm sure someone would sell you all their Hubs if you made a good enough offer.
Internet Scams in the News
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retireyoung says:
2 years ago
Some people say the internet is still in its infancy. I don't agree that all of the good ideas have been taken. Sometimes you can also have good success just reworking a good idea. ie. If something was popular in the US why not take it to Australia or the UK.