Nov
10

Five (5) Ways to Make Real Money Online

It’s been a while since my last blog post because I’ve been working on adding income streams to my business. VAs I’ve met with successful practices have several income streams so I learned early on that a sustainable VA business requires more than one income channel. These past two years I’ve noticed the multiple income streams VAs add to their business model. As we are in the last two month of the year I thought it would be useful to share online income options you can use to expand your business as you create or revise your 2012 business plan.

VAs and Internet business owners first start by building their client lists. Through various marketing strategies (local and online) entrepreneurs first concentrate on developing their contact lists to cultivate clients. Clearly defining their services and being visible by demonstrating their professional skills to industries that use these services is the first priority.

After one has reached a comfort level in their process of converting contacts to clients, the next layer to add is usually creating products. For Internet businesses the first product is free as an introduction to the industries one chooses to serve. After building a subscriber list and engaging with contacts regularly through local events or social media, it’s time to progress to a fee-based product. Some of the most post popular products developed are

  • E-books
  • Courses
  • Certified programs.

Businesses that are growing or those that choose to expand in a new direction use this third option. VAs will create multi-VA firms, meaning they will subcontract with each other to handle overflow tasks. Complimentary business owners will engage in referral agreements, which mean they agree on a fee for successful referrals or compatible businesses will create joint venture projects. These variations of this third option is popular when businesses are considering adding multiple income streams. Singers and hip hop artists are excellent examples of this practice. An artist will sing a hook on a song or two-to-three hip hop artists will collaborate creating a single or album that ranks in the top of the music charts expanding their exposure to a new audience while increasing their profits.

Membership sites are also well-known options for Internet business owners to increase their income. Consultants, Coaches, Writers and Speakers create their own groups with membership benefits. They give talks, answer questions and promote upcoming events. Subscribers are willing to invest monthly for these benefits and it provides business owners with a nominal fee offering to connect with their contacts in a live event.

Open to various ways to create multiple income streams in my business a VA enlightened me to a fifth option – Home shoring. Last month I became an Arise Certified Professional (ACP). This is an ideal opportunity to work from home.

Generating your livelihood from online activities may feel overwhelming and scary in the beginning but here are five options that can produce results. All of them require the investments of your energy to learn and time or resources to develop products, programs or an environment (membership sites); then making your services visible to interested groups.

Categories : Internet Marketing

Comments

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  27. Sally WendtNo Gravatar says:

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  28. edfordNo Gravatar says:

    Thanks Sally for the information.

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