LESSON #4: 18 Ways to Make Money Online

By | June 16, 2008
499 Comments

Thus far, I’ve given my definition of what an online business is, and I’ve given you what I feel are a few prerequisites to becoming a successful online business owner.

So now let’s get more detailed as we drill down closer to what you’ll actually be doing. A lot of people say they want to make money on the internet, but they really have no idea what that looks like in real life.

One of the problems is that there are literally thousands of ways to make money on the internet…

(Watch this video…)

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Main points:

  • There are thousands of ways to make money online.

  • My way is NOT the only way.

  • Being able to follow a blueprint is great, but I also want you to be able to create your own blueprint when the lessons are over.

  • I want you to see the big picture so that you can look at my business model in the proper context.

  • Avoid the “bright shiny objects” and focus on one opportunity at a time.

    Some ways to make money online include (see video for details):

  • 1) Ebay

  • 2) Info products/Digital products

  • 3) Physical products

  • 4) Affiliate marketing

  • 5) Work from home job

  • 6) AdSense or other contextual ads (Ok here’s one affiliate link… If you really want to learn all about AdSense I do recommend my friend Joel who is the foremost expert: AdSense Secrets)

  • 7) MLM

  • 8] Coaching/consulting

  • 9) Service site

  • 10) Web hosting – Here’s a free 114 page ebook I wrote about how to be a web hosting reseller.

  • 11) Membership site

  • 12) Social network/web 2.0 site – maybe you will start the next facebook?

  • 13) Freelancer – My favorite freelancer site (where I hire the most people from) is vWorker (formerly known as RentACoder). Another good one is Odesk

  • 14) Paid Blogger – here are some blog posts listing a bunch of paid blogging sites: Part 1 Part 2 Part 3 Part 4 (UPDATE: The link I mentioned in the video is no longer valid, but the links here should work)

  • 15) Domainer – my personal domain registration site is LifeDomains

  • 16) “GPT” sites

  • 17) Sports betting arbitrage

  • 18) Trading (Stocks, commodities, forex, etc) – If you decide that this is an opportunity you want to pursue, I highly recommend my Trading Pro System

  • (This is by no means an exhaustive list)

    Action steps:

    Your action step today is optional. And it’s simple:

    1) look around and see how big the picture is, and how numerous the opportunities are.

    If you want to look around and see what else is out there, now is the time… NOT when we’re on lesson #55 and you’re in the middle of following my online business blueprint. Because once we get started, I want you to commit to following through and finishing it, because if you don’t finish it you won’t succeed with it.

    Now IF you do go out and research some of the opportunities I’ve just mentioned, remember what I said in Lesson #3… don’t buy stuff unless you know what you’re doing!

    I know this goes against the grain of what most marketers would do in my situation. I should be reeling you in and hooking you on my own idea. But I don’t want to do that. I want you to understand the scope of opportunity out there, and then choose to follow my lessons because you WANT to. Not just because you feel like its your only option. And if you’re confident in your decision to follow my blueprint, you’ll be much more focused, and you’ll be more likely to stay the course.

    As always, you are welcome to post your questions and comments below.

    Have a great day!

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    • 499 thoughts on “LESSON #4: 18 Ways to Make Money Online”

    1. steaphenmoney

      Thank you for giving this great 18 ways how to get the money. I think here affiliate marketing and arbitrage marketing is very useful in this internet marketing.

      Reply ↓
    2. La Vie Viennoise

      Thanks for the paid weblog list, Eric. I’m interested in it from the advertiser side but it’s a great list anyway.

      Why do you prefer Rentacoder over all the other freelance code websites?

      Thanks btw for summarizing the video in text. Personally I much prefer text to audio or even video.

      Reply ↓
    3. Internet Chocolate Business

      Hi Eric
      It’s very interesting to go through your article which are really helpful in making a great success in make money Online.
      Thank you very much for sharing your stuff here and I’m very happy to see posts like this.
      Internet wealth generation

      Reply ↓
    4. Bob from Attract-a-Profitable-Home-Business.com

      Hi Eric –

      What a great blog! Just found out about it from Joel Comm’s blog/site.

      You are so right about researching before spending money. There have been countless times that I was about to buy into some business that had me “sold”, but once I researched the business through a Google or Yahoo search, found that the business was a scam or worthless.

      I suggest starting a business on a subject that you are passionate about from the beginning. Something that you enjoy talking about, writing about and helping others with.

      You can then pretty easily learn how to construct a website about it (if you don’t already know how), and you’re on your way!

      Knowing the subject matter of your business is most of the battle!

      Reply ↓
    5. Sandy Waldrop

      Hey Eric I was watching video lesson#4. It stopped at number 16. Could not get it to play anymore. Someone needs to look into this.

      Thanks
      Sandy

      Reply ↓
    7. Iftekhar Hussain

      Hi! Eric,
      I am still in process of starting my on-line business.
      Your Lessons are great help and support for me to understand the business first and than start.
      One thing more, dont you people like Asains as I have seen no comments from a person belong from Asia like me.
      Any way you are doing great job.
      Regards/ Iftekhar Hussain

      Reply ↓
    8. Carly

      Hey Eric!

      Carly here. I just want to say that I think what you are doing is amazing. Totally inspirational and I personally will be following all the way and learning from you.

      Being on the show taught me a lot, it really did. But nothing beats step-by-step action to follow through with.

      All people really need on the internet is a mentor. Someone to guide them. And very few do this without an ulterior motive.

      You have shown yourself to be an amazing leader with helping your loyal fans and I’m proud of you!!

      Please say hi to Melissa, Kaitlyn and Hannah for me. They must be very proud of you.

      Big hugs

      Carly x

      Reply ↓
    9. Graeme - from down under

      Hi Eric,

      Somehow I came accross your blog and I must say I’m very happy that I did… I think I fit perfectly into the catagory of info overload to the point of being so confused as to NOT knowing where or how to start. So your 4 lessons to date are terrific and the two options I identified as what I would market on the internet being ‘Info/digital products’ and ‘affiliate marketing’ – they appear to be the most cost effective for me also.

      A question I have for you is: Will you be stepping us newbie’s through website setup’s within the 100 lessons you have?

      Really good work!!

      Reply ↓
    10. Nico Pisani

      hey Carly:) It’s Nico.. I started a support community for Erics lessons, maybe you would like to be a moderater, or just interact there if you will be following Eric’s lessons. I hope all is going well with your son’s recovery! Missyaluv!

      Reply ↓
    14. Liz

      Hi Eric and everyone, Liz here a newbie but im am learning, isnt he a great teacher.

      Reply ↓
    15. ronald

      Hi Eric
      Great info so far. I love your approach with this of being totally honest it is very refreshing to see keep up the good work I’m looking forward to all 100 lessons.

      thanks
      ronald

      Reply ↓
    16. Liz

      the list of jobs is what is keeping me around i have not seen that before online, im here for all 120, committed and determined

      Reply ↓
    19. trine

      nice to have the picture sketched,it helps to open minds..and in the subject of getting burned,hope youll talk about that,its important to learn by others learnings to build earning,includes mitigating against the worst.so ihope youll refer to it.

      Reply ↓
    21. mohd ariff

      Follow up your lessons give us more confidence on committing this Online businesses. We are sure that you will teach us on the backend setup on our sides. Sometimes we are unsure whether our setting up it’s OK or not. Normally we try to do it as per instructions, but the systems doesn’t works. Sometimes it’s diffiocult to explain as there might be certain things that we don’t understand.

      Is there any best investment Online business that you think we could join to make a passive incomes today ?

      Thanks,
      Regards Mohd

      Reply ↓
    23. Rick

      Thanks Eric.
      I thought I was already doing internet business, but your list made me realize that doing website development and search engine optimization is actually a work-at-home job. Maybe I’ll help other folks here with web building, but with your support I can be much better with solid marketing expertise for all my clients. – Rick

      Reply ↓
    25. SK

      Lot of people are attracted by the many ways of making money in Internet, and jump from one to another. I remember once I attended an Internet training boot camp, whenever a Guru say this program will make money, many flock to it and sign, some ended up signing few programs and started non. In the seminar, one of the Guru stated very clearly, start one first and see that it make money in autopilot and move to the next. The problem with many is they did not allow the seed to germinated and grow, leave it and grab the next big deal. The same guru also said, the next big project will kill you off. So stay focus.

      Reply ↓
    26. Pete Moring

      Hi Eric, I really appreciate your commitment here, but question your statement regarding MLM. Whilst I’m not involved with a ‘strictly’ MLM busines myself, I feel that it gets an unnecessary bad press.

      After all, EVERY business on the planet uses the MLM concept. ie; word-of-mouth.

      The JVers out there are the worst offenders. They ABSOLUTELY depend on the MLM concept. EXCEPT without the renumeration package. In other words, they pay on just one level at a time, sometimes TWO. There are no recurring affiliate commissions once you’ve ‘passed the ball’ on as it were.

      It’s the same with ‘off-line’ business’ who LOVE you to recommend a friend, maybe pay an introductory incentive, then it’s ‘goodbye’ Josephine.

      MLM is at least ‘honest’ in the fact that it rewards those who refer the products down ‘several’ levels, making the initial commitment ‘worthy’.

      Looking forward to more gems.

      Pete.

      Reply ↓
    27. Edward Han

      Hi Eric

      Great information about the ways we can earn income. I do believe that we have to take action to begin our journey. Guess we should be concentrating to start off with one or two first.

      Thanks!

      Edward Han
      http://www.1502.us

      Reply ↓
    28. Arnljot Blindheim

      Wondrous and Informative Lessons, from a person
      who have done his `due diligence`! People talk about `due diligence`! but fail to do it. That is, I think, because they just don’t know what to do.

      Reply ↓
    29. Harry

      Eric, I have been a beginner on the internet now for about 18 months. I bought your AVB no. 1, and now no. 2.I have always been on your list in the 18 months odd. This is quite a breath of fresh air, you giving us these very valuable insights (lessons), from a marketing point of view. Please keep it up. THANK YOU.

      Reply ↓
    30. Bryan Hee

      Amazing Inspirational Ideas! I’m agreed with you that we need to “Focus” on building up one business before it growing.

      I prefer info product and affiliate marketing. It’s easiest to set up and required minimal cost. Unlimited income potential!

      To your success

      Bryan Hee
      Work from Home Secrets Report
      http://workfromhomereport.pinurl.com

      Reply ↓
    33. Colin

      Eric this is well put together but if there are 100 lessons we will not complete this for the next 4 months… right?

      Im waiting for you to start and Im going to follow you to the tee… and use myself as a case study. Ive got a video camera so I’ll be taking them each day as I go along.

      Reply ↓
    34. Fauzi

      Hi Erics,

      Thank you so much. You reviews about many ways of online business! Surprised me. Wow! So lots. Never ever before exposed by someone on the internet.

      Now I know a little bit about the whole structure of the internet business.

      I’ve only acquired 3 out of so many.But still under learning process. I hope your lessons could bring everybody to the final and have a great success.

      You know millions of people are surfing the internet, but how many you could imagine able to trade on the internet? My prediction is 1 out of 20,000.

      So your idea is great. Able to invite people love to trade on the internet. Many people in some countries didn’t know about this idea.

      They are busy with their everyday’s job and some are computer illiteracy. Thank you.

      Reply ↓
    35. Teresa Caldwell

      Great Information. The information you are putting here online for all of us who want to make money online is great. I am trying the Affiliate Marketing, yet I have come across all of the other methods you talk about, just from my research. You spelled it all out in an honest and helpful way. I know it probably won’t help much, because I don’t get much traffic to my blog yet, but if it okay with you I am going to add your site to my blogroll on my site. Thanks so much for all the information. I can’t wait till the next videos. You are also a great speaker, and you make everything clear, and understandable.
      Many Thanks !!
      Teresa Caldwell

      Reply ↓
    37. Gerard

      Hi Eric,

      Nice list which sums up the available options. It’s always nice to learn from someone as experienced as yourself. The internet is still growing and has a lot of potential to help people reduce dependence on a job.

      I look forward to more of your tips.

      Thanks.

      Reply ↓
    38. Michael Ogu

      Hi Eric,
      One of your ways of making money on the internet which I have already embraced is info/digital products – ebooks. But I am having a great problem as a newbie knowing how to bring quality traffic, etc to my ebooks website since the traffic I bought failed to produce anything. I hope to be all ears when you start teaching that aspect, that is administering and managing ebooks websites. Can anyone help b/4 then? I would like to know when you will start teaching this.
      Keeping my fingers crossed.

      Mike
      http://www.ebooks4amazingsuccess.com
      e-mail ebooks4success@yahoo.com

      Reply ↓
    40. Tom Rutledge

      Eric, I like your approach and “bed-side” manner. Here’s a question about what you would might classify “sample fulfillment” as I am seeing an increased product push for the “how-to’s”. Do you view these as AFFILIATE programs or legitimate stand alone service businesses? (Of course there is a e-product attached to every ad and an on-going live advisor service to inflate the value). I would value your assessment of these types of on-line OP’s. I look forward to your next lesson.

      Reply ↓
    41. Joe

      Eric,
      Thanks for the “free will” offerings. I do know that MLM is legit if workable marketing is taught. Usually hype and misdirection is practiced. Really looking forward to following this through.

      Reply ↓
    42. Eric Post author

      Thanks Alec (I used to think your nickname was La Vie until I checked out your site LOL… nice dance pics and other stuff BTW, you’re a true artist)…

      The reason I like Rentacoder is twofold. First, it’s what I’ve become comfortable with, and I’ve had good success with it. Second, they have a very good escrow system, and a very helpful ebay-style feedback system.

      Reply ↓
    43. Eric Post author

      Sorry about that. It is possible that your internet connection had a momentary inturruption. The other possibility is that your computer was low on memory. I suggest try closing all programs, and then try again.

      Reply ↓
    44. Kannan Viswagandhi

      Hi Eric,

      It is a great list.
      One thing i want to mention here is,even Guru’s like you are not recommending Network Marketing.Network marketing is a legal and legitimate model to gain financial freedom.There are tons of advantages.You can attract qualified prospects online instead of bugging your family like in the olden days.
      Anyway,thanks for sharing the ideas.

      Best Wishes,
      Kannan Viswagandhi
      http://www.growing-self.blogspot.com

      Reply ↓
    47. Eric Post author

      Yes I will be showing how to set up a website. Good to have you on board!

      Reply ↓
    48. Eric Post author

      Is there any best investment Online business that you think we could join to make a passive incomes today ?

      No, not unless you already have the experience necessary, or an existing business. There are some programs I could join and make money within 24 hours by promoting it to my existing subscribers or by setting up a quick PPC campaign. But for someone who is new to the business, you need to learn more first and build the foundation of your business, otherwise you would most likely end up losing money. There are always exceptions, but I’ve seen it happen so many times…

      Reply ↓

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