There are many ways to earn extra money for retirement. I’ll suggest just a few ways to build new income streams online, hoping that one of them will be just right for you. I’ll also let you know my own favorite idea.
When I began looking for ways to make money online, the first suggestion I saw was online betting! Not my idea of building a business, but some will differ.
Some Less Risky Ventures Include:
- Selling items on Ebay
- Sell goods or services on CraigsList
- If you’re craft oriented, you could try selling your own products on Etsy.
- If you like to write, find a niche and build a successful blog; then sell advertising space on you site.
- Sell your services on Fiverr or Elance, such as free-lance writing, graphic design, composing music, building websites, posting on social media, editing books and articles, producing artwork, and so on.
- Become an Amazon Associate, promoting Amazon products online for a commission.
- Write and publish eBooks to sell on Amazon’s Kindle platform.
- Since I’ve had my own websites, I’ve discovered there are a host of people who offer their services doing Search Engine Optimization.
- Set up your own website as a virtual store, selling items which you then have drop-shipped directly from the supplier to the customer. I tried this for a while and lost some money. Others succeed bigtime. You do need to scout out your market and competition ahead of time, then build up significant traffic over time.
- Finally, there is my personal favorite – affiliate marketing.
With a little research, I know you can find many more avenues for making money online. However, I’d like to share with you a bit more about affiliate marketing.
Affiliate Marketing in a Nutshell
Basically, affiliate marketing works like this: You begin by finding a niche you are passionate about and a product in that niche that you believe in, would like to promote, and which also pays you a significant commission per sale. Next, you build a website, promote that product, and begin to develop traffic to your site. You don’t need to be a techie to do this; you just need some training, determination, research, and time to build up your business. Plus, you can draw on your lifetime of business experience and expertise.
Notice that with affiliate marketing, there is no ordering, purchasing, or arranging shipment of a product (versus drop shipping ventures), much less storing or shipping product (as in traditional retail marketing). Instead, when a customer decides to purchase the product you are promoting, they click your link and place their order. The next step is automatic: they receive their product, and you receive your commission without any further work.
Realize, however, that this is no quick way to riches. It takes time and patience to develop traffic, as well as consistency in promoting your product. A helpful image is to envision yourself building a foundation first, then building up your business.
If you’d like to learn more about affiliate marketing, I’d like to suggest a marvelous opportunity both to receive training and to give it a try at no expense! After several false starts and lost money, the place where I found real help is called Wealthy Affiliate (follow the link to read my full review).
Please drop me a comment or question below. I appreciate your feedback.