A few weeks ago I attended an amazing webinar by lifestyle entrepreneur sensation Lewis Howes, called “10 Ways to Make Money Online”. The topic was so useful that I decided to write a post on some of the things he discussed.
If you're a wantrepreneur who wants to build an online business or already have one, but are looking for additional ways to grow and make money online, keep reading.
Before we dive into the juicy stuff, let me spend a moment to talk to you about Lewis Howes (after all, it's him who we have to thank for the great webinar!).
In case you don't know about him, Lewis is a former pro-athlete turned lifestyle entrepreneur. Initially known for being a LinkedIn expert, he is now considered one of the webinar-teaching gurus and one of the a-listers in the world of online marketing and entrepreneurship.
In addition to having been featured on websites like Forbes, Time and BusinessWeek, Lewis is also famous for being the host of the popular podcast The School of Greatness.
[bctt tweet=”A GREAT post based on @LewisHowes's webinar ‘Ways to Make #Money #Online'”]
Ok, let's get started and let's go over 10 ways to make money online.
1. Teaching, Training
Among other things, Lewis has been a featured teacher on Creative Live. Along with James Wedmore and Derek Halpern, he discussed the step-by-step process of launching a profitable online business in the course Launching an Online Business.
This first way to make money online consists in educating, teaching something to people.
2. Provide a Service or a Skill
When talking about these two ways of making money on the Internet, I have two examples for you.
The first one is WP Curve. If you're not familiar with it, here's what WP Curve is all about.
For a monthly price of $69, the company provides unlimited WordPress support to entrepreneurs and small business owners. This means that WP Curve got your back and takes care of the technical stuff, giving you more time to work on your business and focus on what you like doing the most.
You have a skill and charge people for your services.
Hold on a second before you completely discard Fiverr. Don't think it can be a valuable income-generator? Well think again, because there are people who have earned enough money to buy a house in just one year!
3. Create (and Sell) a Product
Let's get back to our friend Lewis! 🙂
As I said, in the early stages of his career as an entrepreneur, he rose to prominence as one of the top LinkedIn experts.
Lewis created this top-notch training that tells people everything they need to know to become LinkedIn ninjas.
Once created, a digital product like LinkedInfluence can become a powerful passive income stream. You put in the work to create the training, you package it and start marketing it.
If you do things the right way, your product will grow in popularity and will start selling itself – without the need of you spending hours and hours of your day trying to convince people to buy it.
4. Create Membership Sites & Continuity Programs
I don't know about you, but over the last few weeks I have received a bunch of emails about Marie Forleo's B-School.
In case you're wondering how B-School seemed to be everywhere, we'll be talking about that in point #5.
Ok, so what exactly is B-School?
It's an 8 week online video-based training program, in which Marie shows you how to build a unique, strong and profitable brand.
Another great example of this way to make money online is the membership site Fizzle.co. Fizzle is an online business training and community of entrepreneurs created to help entrepreneurs stay at the top of their game and avoid fizzling out.
If the idea of creating a membership site sounds intriguing or if you simply want to know how a thriving one works, you should listen to this episode of the Smart Passive Income Podcast (that features Corbett Barr, Chad Reeves and Barrett Brooks of Fizzle).
5. Affiliate Marketing
Ok, so remember how I said that B-School seemed to be everywhere?
The reason for that is simple: affiliate marketing.
Some of the people who are part of Marie Forleo's network promoted B-School and often added a special bonus for their audiences.
This is affiliate marketing in a nutshell: Marie created an affiliate program, where affiliates promoted B-School and got a commission whenever someone signed up through their link. As I said, many B-School affiliates even gave out valuable bonuses, to reward those who took action and signed up through their link.
Affiliate marketing can be a great way of promoting your product or make money by promoting someone else's.
If you have a product you'd like to create and manage an affiliates program for, check out this post about the best WordPress plugins for affiliate management.
In case you don't have a product yet, you may want to scout places like ClickBank to find products you'd like to be an affiliate for. Here's my advice: be an affiliate and promote only products that you have tried and trust.
An alternative to ClickBank and affiliate programs like B-School is Amazon. Amazon is the world's largest online store and can be a mine gold for people who do affiliate marketing the smart way.
6. Sell Ads on Your Site
If you have enough traffic on your website, you can make money online by selling ads.
My advice here is to do what make the most sense. If you have a personal website, for instance, you may want consider avoiding Google AdSense or similar ads.
I mean, think about it for a second. What would you think of a personal blog filled with random Google ads?
If you're running a more Huffington Post-like blog, on the other hand, traditional Google AdSense banners make more sense for you.
7. Sell Sponsorship for Branded Content
The idea in this way to make money online is that you partner with a company or service and make money through sponsorship.
Podcasts are a great example of this. Tune in to The School of Greatness, Entrepreneur on Fire or the $100 MBA Show to listen to how Lewis, John and Omar promote their sponsors – without being salesy!
If you host a podcast, having sponsors can be another solid source of income.
8. Organize Online Events
Thanks to that online event, Navid has now reached the freedom he has always wanted to reach and is living life on his on terms, all while traveling around the world.
The virtual summit generated over $40,000 a month, helped him position himself as one of the top virtual summit experts and landed him an interview with Business Insider.
Navid will join us on the 360 Entrepreneur Podcast in a few weeks to share his story and give out some tips on how to organize a successful virtual summit, so stay tuned!
Online events can be either broadcasted live, using tools like Google Hangouts on Air or Skype, or recorded and broadcasted as replays.
9. Masterminds & Coaching
One of the things Lewis Howes stressed during his webinar was the importance of having a mentor and being part of a mastermind, a group that holds you accountable.
His School of Greatness Academy is one of the best examples of an A-list mastermind group.
The idea here is that you make your time available to be a business coach and help members of the mastermind group develop and grow.
Time is our most valuable asset, and that's why mastermind and coaching groups can sell for hundreds or even thousands of dollars.
Time is our most valuable asset. [tweet this quote]
10. Let the Sky Be the ONLY Limit – Be Creative!
Hopefully you got inspired and got some pretty good ideas on different ways to make money online.
This last point is all about YOU.
You shouldn't only be doing what others are already doing. That's a good starting point, but if you really want to succeed and position yourself as an authority, you have to be innovative.
This is why, you should try to think of creative ways you could use, in order to make money online.
Thanks for sticking around until here, I appreciated you! 🙂
That's why, as a thank you, I have prepared a list of my personal recommendations in terms of business communities, masterminds and accountability groups.
Now, I'd like you to take it away and tell all of us if there are other ways to make money you think we, as entrepreneurs and small business owners, could implement. Did I leave something out? Is there something you'd like to add? Leave your comment in the box below.
And if you know someone who you think would benefit from learning about different ways to make money online, don't forget to share this post with them.