Weighing my options

August 16, 2010 in Money

Gold Money Bags Being Weighed

As I’ve mentioned in a previous post, I am bent on achieving my goal to work at home by next year. While my primary method is to earn money online, I am still testing different ways to do it. I want to come up with a business model that is sustainable for me and has potential to earn unlimited income too.

So far, the only way I’ve earned online was to do paid blogging. I’m very thankful that I got to do this because this is what has allowed me to invest in learning how to make money online and exploring other business opportunities.

But even if paid blogging is a fairly enjoyable work to do, the only way to earn a sizeable income from this method is to have a network of 10 or more blogs. Another factor is the frequency of paid assignments that are given to you. Sometimes, there are windfalls while sometimes there are no assignments at all.

So I’m exploring three other methods of making money online: affiliate marketing, freelance writing and niche blogging.

Simply put, affiliate marketing is promoting other people’s products and making money from commissions. Products could be digital goods like ebooks or software or physical goods that could bought online like electronics and gadgets.

For example you can have a site that focuses on one product, say TVs, and your site’s content will feature TV reviews and price comparisons. When someone looking to buy a plasma television searches for good deals online, finds your site and makes a purchase through one of your links, you earn a commission.

Freelance writing is also a popular way to make money online. Fact is most people don’t like or don’t know how to write articles so they outsource this task to freelance writers. The key to earning a stable income from this method is to establish a clientele who will hire you on a regular basis. It’s sort of like having a boss too since you write for others but at least you can work on your own time and you can set your own rates.

Niche blogging is about building blogs for specific niches which also promotes products for sale. This can also be used for affiliate marketing which means you’ll use your blog to promote other people’s products. But you can also create your own product and sell it through your niche blog.

For example, you are very passionate about planting orchids. You can blog about it and gain a following among other orchid lovers. You can either write and sell your own ebook about how to grow orchids or you can promote and sell gardening tools on your blog.

Of course, these are all broad strokes of the different methods and while they may all sound easy. Each method still takes work. But the key is, if you enjoy doing these things, then they won’t be work at all. It’s like getting paid to do what you love.

I enjoy blogging and writing so I could probably try doing all these. Marketing is something else but I think I can learn it along the way.  The important thing is for me to keep taking action, to evaluate the results and to do more of what works.

Wish me luck! :)

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{ 8 comments… read them below or add one }

aimeediego.blogspot.com August 16, 2010 at 6:37 pm

wonderful article! seems like a pretty good way of earning from home. i wish i could do this too!
aimeediego.blogspot.com´s last [type] ..Kooky Mondays

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Jayme August 30, 2010 at 5:56 pm

And I understand why you would. :) When I make this thing work, I’ll be sure to share it here so you could try it too. :)

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Dea August 17, 2010 at 3:49 am

Good luck, Jayme! I see that you’re really determined to do this, you can do it!
Dea´s last [type] ..Craving for Pho

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Jayme August 30, 2010 at 5:58 pm

Thanks Dea, yes I’m super determined! Sabi nga ni Dory sa Finding Nemo, I’ll “just keep swimming, just keep swimming.” :)

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Orchid Information August 17, 2010 at 9:34 am

Jayme,
I write articles about orchids. The trick is finding something you enjoy writing about and then monetizing it through a blog or website. Being passionate about it helps keep you going.
Ellen Reader Orchid Information
Orchid Information´s last [type] ..Brassia Orchid Types

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Jayme August 30, 2010 at 5:59 pm

Hi Ellen! Thanks for sharing your insight. I’m still figuring out a balance between passion and profit. But I’ll make this work no matter what. :)

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rach August 26, 2010 at 4:44 am

hi jayme! welll tulad ng nasulat na… i am sure magagawa mo yan since you are very determined and you also have a very supportive family.

I wish to do the same lalo na pag nagsettle na kami sa Pinas though open pa din ako to work for a company (8-5 stint) pero di ung tipong patayan ang oras — iba na ngayon eh… Family and quality time comes first :)
rach´s last [type] ..Bees in my head

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Jayme August 30, 2010 at 6:03 pm

“Family and quality time comes first.”

Super agree, Rach. :) Thank you for the support. While you don’t have kids yet, try to establish a work at home business na. So when your baby comes, you won’t experience the same dilemma as I did.

It really sounds scary to quit a regular job, after all, it looks more stable and secure. But I don’t think I’ll get financial freedom, not to mention time freedom, working in the office.

For me, being a WAHM is really the way to go. :)

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