I believe that the one of the ways to make money online is by having a strategy that relies on developing multiple income streams. it’s never a good idea to rely on one form of income for generating all of your revenue. Today, I am going to list my sources of income that make up my diversified income stream online.
1. Online Writing
Online writing is still the biggest portion of my monthly income. I am able to generate thousands of dollars writing articles on the Internet. I have cut back on a lot of my online writing for other sites and still do really well. I used to write articles for a small amount of money. Now I average $100 to $per article. By the end of this year, I am going to only write for large websites and national publications as my writings have been featured on large sites.
2. Advertisements
Advertising income generate a decent portion of my monthly income online. I use direct ad sales on two of my websites from deals that I have been able to negotiate. I have also been able to get some great ad deals from networks like the Yakezie Network. On the rest of my sites I use Google Adsense to bring in additional income. These sites are not popular enough yet for me to broker higher paying ad deals.
I figure it will be another 3 months before I can negotiate advertising deals for all of my sites.
3. Products
I have been able to begin generating a consistent income stream through the sale of my books, ebooks, and newsletters. These products help to bolster my online earnings. I put a lot of time and energy into writing and compiling the information that went into the products and it has been well worth the effort. I feel like a few months of hard work can lead to years of residual income.
4. Affiliate Marketing
This one is a new one for me. I tried affiliate marketing when I first started blogging though sites like Commission Junction. It never really brought in much money for me. I have tried a new approach to affiliate marketing recently. I have signed up as an affiliate for different products but only ones that I have used myself and recommend. This has been working a lot better for me. I have started to see a trickle of affiliate income coming in each month.
Affiliate marketing will become a larger source of income for me as time goes on.
5. Miscellaneous Income
I have just started an few different online business ventures to boost my monthly income. The most recent one is an online writing service that writes articles for other sites. I have also been earning money via syndicating content, paid reviews posts.
I have learned that the key to making money online is to have a variable income stream. Don’t become too dependent on any one source for all of your income. If that source dries up, so does your online income.
Hey Mark – how did you go from writing for very little money to $100/article? My wife does a ton of online writing (for mother blogs mostly) for $10-15 a pop. Any tips on being able to command more money?
Thanks!
Lonnie
Hey Lonnie,
The key is writing for bigger sites. The larger sites pay a lot more money for blogging. I used my writing for the smaller blogs to pad my resume and then I applied at the bigger sites. Your wife could do the same since she has a ton of experience. She could apply at parenting magazines and sites like parenting.com. Large sites are where the big money is.