Making Money Online and Generating Passive Income

Discuss working and making a living overseas, starting a business, or studying abroad.
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tom
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Post by tom »

Another person making money online, The Annoying Orange, One of the key things here is hard work and long hours. Find a niche and do it.



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publicduende
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Post by publicduende »

wineguy wrote:You're right Winston, it's not easy in practice. I sold my first internet site at the age of 21 for $10,000 and in hindsight it was the worst decision of my life as i feel i'll never have a better idea. I've tried many other sites since and the most profitable one makes about $30/month currently. Growing up in the heart of the silicon valley has shaped me in many ways. You either need an idea that has never been done before, or a markedly better version of something that already exists. And even then you have to market the shit out of it and gain a following, which will almost never happen quickly. Good luck to all!
I agree with you Wineguy. What people often refer to as "a website" that makes money is more often than not a complete client/server system, which, even assuming you have the next great idea, is not easy to achieve in practice without at least one full man year. So, even assuming you have 100% chance to turn yourself into a succesful entrepreneur once the "website" is feature complete, scales well with traffic and breadth of audience and keeps up with the break-neck speed of Internet glamour, you still have to put up slave hours for an inordinate amount of time. And obiously be quite skilled at a very diverse range of IT tasks, from writing a page server that does concurrent database connections and processes text *fast* to the database itself, to good design skills etc. Of course some of these activities could be outsourced to external parties, yet that would come at the cost of a siezable upfront cash investment.

Most people here working in the City (of London) have had or have pet projects, in the form of websites, mobile app factories, small trading businesses etc. I even know people who own sushi bars and even a small bespoke fashion atelier. Needless to say, less than 10% of these endeavours really make enough to recoup the expenses. There's also to consider that, if you are already a seasoned professional, 8/10 hours or your work in the industry may well be worth about £500 ($750) or more. Which means that spending 6 months on a software project that is far from guaranteed to be financially successful and self-sustaining, effectively equates to losing earning potential elsewhere in the marketplace. Assumed there's a healthy marketplace, in this crisis, that is :)

It was one of the rare sunny days in London today, so I had lunch outdoor with a colleague. He was telling me that his team is split 2/3rds in London and the remaining in Singapore, and he will be soon start pitching his manager to move him to Singapore for at least a year, perhaps as a local team manager. Despite neither of us being single (I'm married, he's engaged), we both agreed that Singapore is an excellent launchpad to 1) earn enough money on a quality job, comparable to those found in London or NYC, 2) enjoy a modern, sophisticated and somewhat exotic nightlife and expat scene, and 3) use as many long weekends and holidays as possible to visit the entire South East Asia: Malaysia, Indonesia, the Phlippines, Thailand, Vietnam, Cambodia, etc.

All in all, perhaps those of you with more directly marketable skills like software development, database or IT system/network administration, would be better off putting up with the idea that a stable full-time job in a place as close as possible to those dreamed heavens would be a better compromise to a more free yet unstable life. I think Singapore ticks all of those boxes, together with Hong Kong. Kuala Lumpur is growing fast though, I would consider that to be the new Singapore in the next 10/15 years. If people prefer Latin America, Santiago del Chile, Buenos Aires, Bogota/Medellin also offer a lot of potential for living the expat life while rooted in the (relative) certainty of full-time employment.
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Alex Warren
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Post by Alex Warren »

I would like to mention here about one substantial company. Writers.ph is a local freelancing organization with a very good reputation. It is worth your attention.
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Winston
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Post by Winston »

For web hosting, I recommend Bluehost. They have UNLIMITED hosting, space, transfers and domain for only $4.95 a month, the best deal you can possibly get. Plus they are known as the web's most reliable host with the best security and customer service. Every webmaster I know recommends them too. Check out their deal at my affiliate link below.

http://www.bluehost.com/track/wwu777

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jasica11
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Post by jasica11 »

Although Patt fly provide some useful information but think this is very long time process for making money online.I have found a youtube channel and think they are good.I dont know if they are scam or not.If you dont mind would you like to take a look the channel and please help me to take the perfect decision.

Channel link : http://www.youtube.com/channel/UCh2DmqBQmHd0sgskn4vxz1g
thatkid1
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Post by thatkid1 »

If anyone wants to learn how to make money give me a holla and we can JV and I can make you earn but to make money you are going to need money so you need investment upfront for serious people only would provide necessary docs if needed to prove theres no funny business going on so if your interested let me know
Johnny1975
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Post by Johnny1975 »

For musicians :

Royalty free music.

There are sites where you can upload your music and sell the right to use it, on a non exclusive contract. This means that you waive your right to claim royalties (but only from the person who buys the right to use it), but you are also free to use your own music yourself anywhere else. I've joined a few of them and I've uploaded some tracks, and I'm still waiting to see what happens.

If anyone wants more details, let me know.
Jester
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Post by Jester »

Don't know if anyone has posted a link to this guy before, but a couple of his articles looked interesting:

http://www.stevepavlina.com/blog/2012/0 ... come-goal/
"Well actually, she's not REALLY my daughter. But she does like to call me Daddy... at certain moments..."
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xiongmao
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Post by xiongmao »

Anyone wants ideas for a passive income site I built this:

http://www.nicheideaoftheday.com/

If anyone has ideas for more interactive sites then I have a lot of time on my hand for joint ventures. Before I quit the rat race to go travelling I was a full-time web developer for 15 years.
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Pinaylover
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Re: Earning residual income?

Post by Pinaylover »

Neptune wrote:
Ghost wrote: Please help with any advice or experiences you've had doing things online for residual income. I'm open to every suggestion, and want to know what chances I have being able to make a (somewhat) decent living at least out of this! :D I'm really excited about doing these things, just need some advice.
Hi Ghost,

I'm a computer programmer. I first got a job building a database system for a company. I suggested to my manager that I would be able to do almost all of my work from home using log me in. I offered to take a pay cut in exchange for the ability to work from home so I wouldn't have to sit in traffic. He agreed to give it a try temporarily. I made sure to work very hard and not slack off. Although I was working at home, I made sure to treat the job the same as an office job. I even had a web cam set up so my boss could see that I wasn't slacking off and so I would be under pressure to keep my work quality up. So far, this arrangement has worked well.

Now I haven't told him yet that I will be moving overseas. I'm not quite sure that he will let me do so yet. However, I rarely come to the office and I have proven that I can be a dependable employee even working from home. So I think there is a good chance that, when I tell him I want to move overseas, he may let me.

I think that this is the best way to get online work. Just get a regular job, except one where most or almost all your work is done on a computer. Then prove to your boss that you can do all the work using log me in. That way, you will get an American level wage or salary while living in a country with a much lower cost of living.

Ghost is right... I do online marketing for car dealerships here in the US and I am taking the same step so I can move abroad. the difference is my customers pay for a monthly service so I get paid the same no matter much or little i work. I just have to be onit when the have a special request.
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Pinaylover
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Post by Pinaylover »

Winston wrote:As I know, there are several primary ways one can make money online:

1. Provide a product or service that people are willing to pay for.
2. Serve as an online middle man and outsource work to others, and earn a cut from it.
3. Provide good web content that draws significant regular traffic. Then earn advertising revenue and affiliate commissions from that web traffic, and product/service sales as well. (that's what I do)
4. Do freelance work for others, such as freelance writing, editing, video editing, etc. on a contractual basis.
5. Provide some kind of personal service, such as consulting, teaching English to foreign students via Skype, etc.

By the way, check this out. The owner of the free dating site, http://www.plentyoffish.com, Markus Frind, claims to make $10,000 A DAY just from paid Google links. Would Google really pay him that much, $10k a day, even if he had millions of people coming to his site everyday? Is that farfetched or realistic? That seems like an awful lot, even if you did have millions of hits everyday. Here is a story about him and his $10k a day income on YouTube:



An article about him in the NY times about making $10 million a year from his website.

http://www.nytimes.com/2008/01/13/busin ... wanted=all

What do you think?

This guy Markus decided we wasn't making enough money off of his goodle ads so he created is own adserver for his site traffic starts a .40 CPM.. after he made the switch to selling his own traffic the guy cleared 25 million in profit that year
sadderboard
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Post by sadderboard »

I work from my home and will share my experience.I have been into online business for the past few years,I do reselling business with Goresellers.com ,I chose this business because there was no way to get scammed if we found a legit reselling company.It is very easy to make a good turnover because the cost for each service is fixed by reseller and also it has a fixed commissioned pay for each sale.
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Winston
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Re: How Do I Make Money Online and Generate Passive Income?

Post by Winston »

Any of you ever try Wealthy Affiliate? If so, what do you think? Here is how it works.

http://www.wealthyaffiliate.com/
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cbcsurvivalist
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Re: How Do I Make Money Online and Generate Passive Income?

Post by cbcsurvivalist »

Winston, how long did it take you before you saw any income from this site? Like say $100-200 a month?
http://cbcsurvivalguide.com/ Tips and Tricks for the CBC in the 21th century
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Winston
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Re: How Do I Make Money Online and Generate Passive Income?

Post by Winston »

Some great advice from Steve Pavlina about making money from your website or blog and building traffic for it.

How to Build a High-Traffic Web Site (or Blog)
http://www.stevepavlina.com/blog/2006/0 ... e-or-blog/

10 Stupid Mistakes Made by the Newly Self-Employed
http://www.stevepavlina.com/blog/2006/0 ... -employed/

How to Make Money From Your Blog
http://www.stevepavlina.com/blog/2006/0 ... your-blog/

StevePavlina.com Podcast #006 – How to Make Money Without a Job

This podcast is about how to make money through multiple streams of income without actually having a job, which is something I’ve been doing since the 1990s. This is a high-level overview of the general process and mindset involved in generating passive income streams.

Enjoy the podcast.

How to Make Money Without a Job
http://www.stevepavlina.com/blog/2005/1 ... out-a-job/
Check out my FUN video clips in Russia and SE Asia and Female Encounters of the Foreign Kind video series and Full Russia Trip Videos!

Join my Dating Site to meet thousands of legit foreign girls at low cost!

"It takes far less effort to find and move to the society that has what you want than it does to try to reconstruct an existing society to match your standards." - Harry Browne
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