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The following article details my personal top 10 methods to make money from the Internet.
What makes this list unique is it’s based entirely on the methods I have personally used, so I can reveal to you what I did and what my results were. Bear in mind these methods represent ten years of working online, so I do not do all of them presently. At one point in my career however they were an income stream, and are still viable options for you.
This is not an all inclusive list, which means there are plenty of other ways you can make money, no doubt many of which are potentially much more profitable or better choices for your own situation. As a result you shouldn’t base your decisions on what methods you use solely on this list. Do your research and include this article as one resource.
This list isn’t strictly ordered based on my preferences from top to bottom. What I’ve done is listed the different things I did in a chronology of time of when I did them. It’s no coincidence however that as we get closer to the present (the end of the list), the more I personally like the method, and hence still use it. Over the years I made changes to how I made money in order to get closer to what I really wanted from my business.
What Is My Ideal Way To Make Money Online?
To help you understand what I was striving for, here are my main criteria when deciding what methods I use to make money online with. Bear in mind certain options only became available as a result of previous experience. Some things you can only do once you’ve done other things because you build on what you have done before.
In a nutshell, this is the criteria I concluded are important to me –
Can you make a solid profit margin?
As you will see in a moment when I reveal my top ten methods, some income streams have very slim margins, which means you must push through a lot of volume in order to make significant income. While not always the case, in most situations to sell more requires more work, more resources and generally more of everything, which results in violation of my next rule…
Can you maintain the income with minimal labour and/or is it easy to outsource?
I look for income streams that do not require significant amounts of work to maintain. If I need to drastically increase the amount of product I sell or customers I attract to make good money, and that requires more of my own time to achieve, or cannot be easily outsourced to others (it often increases your labor just to organize outsourcers, so don’t assume outsourcing is a magic solution), that’s not the method for me.
Is there potential to scale?
As per the previous point, often the logistics of growth makes a method unappealing to me, however I do want the income streams I go after to have the potential to scale, and scale big. This means if you do discover something that makes you money, the possibility to grow it to a life changing amount of money is a reality, and you understand how this can happen.
In most cases I prefer something that is more potentially passive than potentially scalable. Obviously it’s great to have everything, but given the choice I prefer income streams that just work and can be automated so you can do other things. You have to be careful to manage your desire to scale something with your desire to make it passive. Sometimes less is more because less gives you freedom.
Can you create a sellable asset?
The final point is really important to me because I know that my interest tends to fluctuate. Every five years or so I feel like moving on to something new and leaving my main project. In the case of business, I want to ensure that there is a profitable exit strategy. The better you meet the previous criteria (profit margin, automated, scaleable and passive), the more money you can make when it is time to sell.
I Look For The “Holy Trinity” Income Method
I’ve written before about my quest for the holy trinity of a business model, one that delivers what I consider the three most important outcomes from a business –
You make significant PROFIT
The income can be made as close to PASSIVE as possible
You have PASSION about some aspect of the business
Consistent Income
Free Time (thanks to income automation, business model simplicity or large capital gain)
Meaning and Purpose (development of your passion and reason for being on this planet)
So now you know my main criteria that has driven me to test different income streams over the past decade. Now let me introduce you to exactly what those income streams are…Read My Top 10 Ways To Make Money Online
Good luck !
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