Jul 21, 2010 - Make Money    10 Comments

The cold, hard facts of making money online

Everyone would love to make a little extra cash – let’s face it, in the current economic climate, the cost of living is getting beyond a joke.  Some extra cash is always a relief as it eases the strain.  Some of the most straight forward ways of generating more income is to get another job.  But who really wants to be working longer – if they really have to?  I know I don’t, and I’ll bet if you’re reading this now, you don’t either.

The internet is a great resource which has been used by many to carve new careers for themselves.  What’s more is it is relatively straight forward – so why doesn’t everyone have an internet job?  What stops the masses from being successful running a website and making cash?

Can you really make a living online?

That’s a good question to ask.  It always seems far too good to be true.  At least, that’s how I felt when I initially stumbled upon some of the internet entrepreneur websites.  But let’s take a look at the numbers.  Let’s see if it is theoretically possible to make good money online using a website.

Say for instance you have a website, which receives about 2,000 visitors a day.  Sounds like a lot, but that’s not a lot to some of the top sites like Pro Blogger.  Okay, so I’m going to make some really rough estimates of numbers here.  Suppose,

1% visitors/day click on AdSense (or equivalent) at $0.05 per click = $1

1% visitors/month click on Amazon Affiliate and follow through with purchase at $1 per purchase = $20

5% visitors/month (average) buy your shiney new eBook at $20 a pop = $2,000

That totals $30 + $20 + $2,000 = $2,050

So the numbers are crude, but you can see that theoretically you can make pretty good money.  Imagine this with more visitors, or over 2 or 3 sites!  Those income sources haven’t even considered other opportunities.  Anyway, my point is made – there is money to be had.

Why is it so hard to earn this?

Seeing numbers like that, it all seems really very easy.  This is why so many people try to earn a living online.  But what makes it difficult?  Why can’t any Tom, Dick or Harry make a living online?  The difficulty is something that eBooks and eCourses do not stress enough.  It’s all well and good buying a domain, getting some hosting, and running a pretty little WordPress powered website, with a groovy template.  You add the content as recommended.  You consider monetising your website, some of the easiest options are,

  • Amazon Affiliates – simply register
  • AdBrite (aff link) – simply register
  • Google AdSense – application process

Back to my point – the difficulty.  Many people that start up a blog/website start with the sole interest of generating revenue quickly.  They lack real interest, and pick a subject that they know will be a profitable one.  They lack passion, and when the first month or two passes, they get disheartened by the lack of money they are earning – if any!

Another thing that is particularly difficult – if not the most difficult – is generating traffic.  2,000 visitors per day is a massive amount of traffic, that takes a serious amount of work to achieve.  To get this traffic, you need to exploit every opportunity to advertise and market your website.  You need more than a few blog comments.  You need social media like Facebook and Twitter, as well as the bookmarking sites like StumbleUpon.

The best traffic to your blog is organic traffic – traffic that has got their naturally – usually through search engines.  You need to carefully research the keywords you want to rank for in the search engines.  The art of search engine optimisation (SEO) is challenging, but very rewarding – check out Keyword Research Blog, or Smart Passive Income.  Alex at KRB writes a number of very compelling articles on the importance of SEO.  Pat at SPI writes about marketing using tools such as Market Samurai.

In addition to the challenges in developing traffic and not actually being interested in your website (beyond the money), you focus too much on others than yourself.  There are tons of start up blogs around.  Most people stumble upon them naturally when looking for similar niches.  It is all too easy to become fixated on your competition and what they are doing.  They key to success is to absorb everything around you, but remain focused on YOUR goals and YOUR ambitions using YOUR methods.

All of this takes time.  Lisa at 2createawebsite.com says to stick at your website work for at least 6 to 12 months before you will see any sort of income.  Real success takes a long time – years!

To sum up

Success is achieved through passion, determination and hard work – and lots of it!  The more effort you put into it, believing in yourself and your methods, you will eventually succeed.  Don’t get bogged down by the negatives along the way.  Instead, use the negatives as something to improve and build upon.

Your turn

Many of you are starter bloggers, and are keen to live the “internet lifestyle”.  Some of you are fortunate enough to be living it.  What methods are you taking to realise your dreams?  What advice did you find most useful on your journey to success?  I look forward to your feedback.

10 Comments

  • The cold, hard facts of making money online | mark bell . me . uk…

    The cold. hard facts of making money online….

  • Making money online is definitely not for people with short attention spans. I am a baby blogger (2 months in) and have definitely learned that it is going to be a long road to successful income (if any at all).

    Yes ultimately I’d love to make a little extra pocket cash on the side but, more important to me, is getting a following. I suppose both go hand in hand though.

    Thanks for the article at least I know it’s still possible even if difficult to make money online!

    • Hi John,
      You and I are both baby bloggers – I’m in month 2!

      It is a long road – but made easy by enjoying it. You are bang on about the money not being a priority. I’d like to make this an earner too, but I take much more enjoyment from providing people with information and engaging with others.

      Good luck with your blog!

  • Hey Mark!

    I think the biggest misconception about the easy “Internet lifestyle” is that there’s no work involved. You do a little website voodoo once and then wait for the big bucks to roll in.

    I have some long term plans in mind for my blog and its monetization, but I’m not doing much with it now. In my opinion (especially for my niche – which is, incidentally, making money online), going all out with the advertising and marketing too soon will turn people off. I plan to do some interesting stuff when the time comes though.

    Hope you’re having an awesome week!

    • Hey Jillian,
      I agree that the misconception is that minimal work is needed. I had figured it would be difficult, but I like a good challenge!

      I have read and been advised from a variety of sources that you should monetise from day one. As you say though, bombarding your readers with adverts is a put off. I’m trying to find a balance with different things – hopefully a blog post in the future!

      Thanks for your comment, much appreciated!

  • I totally agree Mark! I have started many blogs but always come back to the ones that I started out of passion.

    I wouldn’t totally agree with your figures (5% seems a bit high a conversion for an ebook on a blog), but the money is there if you stick around long enough.

    But if I were to do one thing differently, it would be starting to build my email list earlier. That is where most of the Probloggers are making their money.

    • Hi Thomas,
      Passion makes what is otherwise difficult more enjoyable.

      I’m pretty sure my figures are very crude – merely illustrative. I’d be keen to update them with more accurate figures if you could help out?

      As for a list – I’ve got the registration for my RSS feed, but I think you mean a proper out and out email list – I’m working on that. Would you recommend giving away an incentive to sign up?

      Thanks for calling by Thomas – I’ll give you some feedback on your eCourse I’m taking when I’m finished.

  • Great Post, Thnx for sharing this.

  • It is great if we can make money online. I is on my way learning and practicing what I have learned =)

  • Hi Mark,

    You really let everyone know the truth. Making money online is not for everyone. You need to work at it. It will not make you wealthy unless you get lucky. I work at home on my computer and make a living and love it.

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