I’m really being facetious here by posing the question and bringing up the possibility of earning a six figure income online. Is it possible to do? Well YES and NO. As far as I know, it is entirely possible to make a living off the web and replace your job income on a consistent basis. But whether it’s easy to do is another question. I believe there is NO quick way to make six figures online as it entails work and experience. And it takes time to learn the ropes. There are also successful people who will claim that they earn this type of money in their sleep, and perhaps they do. But getting to that point where they are coasting along making this type of money was probably no easy task. It took time / money / luck to probably get where they are, just like with any traditional business or career.
I’ve been working online for sometime now. I started many years ago and have since learned a ton of things. As a webmaster, I’ve found that the work is both extremely fulfilling but can also be frustrating on occasions. But if you’re hardworking, determined and shrewd, you CAN find success at the online game.
I’ve also reiterated before that being a web publisher is NOT for everyone. The web attracts a lot of souls, given that there are so many opportunities here. But just like the real world, you’ll have to compete, and only the strong survive.
Which online methods lend themselves to a six figure income?
I thought to give my opinions on which online activities may be worth exploring as a business. From what I’ve observed, more and more people are attempting to earn a living online. Some folks focus on one venture while others have several irons in the fire. It’s entirely reasonable to expect earnings of $250 to $400 a month when you’ve set up shop on the net. Sure, it seems like a far cry from six figures, but it depends on what it is you’d like to pursue. If you treat your work as a true business, then you’ve got a shot at reaching that “magic” level. Of course, there are NO guarantees that it will happen and you could just be wasting your time and money to be going down this path, but that’s precisely why it’s a good idea to get some feelers out, to start gradually, and to build things up slowly. Don’t quit your full-time job just yet and think first about supplementing your income rather than replacing it. Take those baby steps first.
The reality today is that as time passes, it gets harder and harder to run an online business as the barriers to entry increase. There’s simply more competition and the marketplace is crowded. Despite these realities, increasing numbers of people will continue entering the fray to seek their fortune. Let’s take a look at a few online opportunities and check out their earnings potential.
eBay, Ecommerce and Online Retail Sites
eBay.com is easy to use and they have online help. A lot of ecommerce site owners have done quite well: just check out Etsy.com and other standalone retail sites. Also, look no further than deals sites or coupon sites to see just how popular these niches are. If you’re setting up shop, don’t forget that a digital camera is necessary for uploading photos of your products. 6 Figure Potential? Yes.
Blogging
You can decide to try pay-to-blog sites, where you can get assignments paying $5 and up. To do this successfully, you have to enjoy writing and be able to meet deadlines. Check out such sites as blogsvertise.com and payu2blog.com. Note that this is not the way to make good money. You may do better if you create your own blog and run it as a real business. But it takes time to develop and can amount to a whole lot of nothing if your site fails to get traction. For some inspiring stories, check out our popular make money blogging article. 6 Figure Potential? Yes.
Freelance Work
If you are a writer, editor, illustrator, webmaster, or someone with similar skills, you can make money through freelance websites such as ifreelance.com, elance.com, and simplyhired.com. You’ll need to post a profile and bid on jobs. This can be frustrating as the pay can be low and some jobs are never awarded. Freelancers who go this route say that it can be feast or famine when bidding for work this way, perhaps getting no leads one week but several in the next. So perseverance and planning are definitely necessary. Now if you have some serious skills, you can always go for a full time position at an Internet company. Such companies will probably pay you a heftier salary right away. If you’re in this position, you can ask yourself: would you prefer to be self-employed or an employee? 6 Figure Potential? Yes.
Online Surveys
Some people have immersed themselves in this form of online activity. They say that the time spent taking the surveys can be very cumbersome in relation to the pay. Some pay as little as $1 or $2 for a 20-30 minute survey. Payouts for surveys can be as high as $15, but those are few and far between. Someone commented on my personal finance blog that she made up to $300 per month doing surveys, so apparently, some folks find this worthwhile and enjoyable as an activity. Sign up with sites such as surveyspot.com, surveysavvy.com, and creationsrewards.net for opportunities. 6 Figure Potential? No.
When trying to find paying jobs online, you should always use your head and proceed with caution. A good rule of thumb is this: don’t pay to sign up with any online moneymaking services, and do some research before signing up.
Do you have what it takes to earn six figures?
Let’s turn to a bit of humor on the subject. Now while not all bloggers want to make money, many certainly do. If blogging for money is part of your financial plan, or if you just want a chuckle, then you may appreciate this cartoon which I encountered at My Two Dollars. It was just too adorable to pass up. With enthusiastic permission, republished from EngTech.Wordpress.com:
On this note, for the blogging hobbyist, what could be more exciting than turning one’s skills, creativity and ideas into a full time pro-blogging stint?
It may be challenging to support oneself full time with online work, and many have to work at it almost 24/7. The good thing about it, however, is that you are only limited by your imagination. If you can dream it up, you might be able to profit from it.
Created October 12, 2007. Updated June 14, 2011. Copyright © 2011 The Digerati Life. All Rights Reserved.
{ 26 comments… read them below or add one }
On a semi related side note. It seems as though we are on the blogging bubble. Soon it will available revenue will be spread so thin, that it will be extremely tough to make any money without being extraordinary.
Full-time blogging stint? That’s a crazy idea.
Happy Rock has a point. I’d like to become a freelance writer eventually, on the side. And I see my blog as practice. Also perhaps a chance to get my work out there.
I wonder about associated content, too, and how it plans to keep going. But maybe it’ll last as long as people are regularly blogging.
@the happy rock
If that’s true, its a very good job its only my hobby in that case.
@SVB – That’s just too funny.
@The Happy Rock – nah, the competition will be so tough everyone has to advertise to be found 😉
Hopefully, the day that advertising revenue dries up is a long ways away!
My comment would be exactly what Mrs. Micah said. I view “writing” not “blogging” as a long-term revenue proposition. Don’t get me wrong, because I love blogging – but my site would have to attract Steve Pavlina-like numbers to replace my salary (I live in the hyperinflated NYC market). I am convinced it will – I like my blog 🙂 – but it may take a while. Like MoneyNing said, I hope I get some before it’s all gone…!
I guess we can look at it this way, as time goes on, there could be more sites and more blogs but there will also be more online users. Hopefully there will be advertising that follows this growth in web users, even though it’s spread around more blogs/sites as well.
Oh, if it were that simple. The truth is that if you put the work in, it can be done. While special skills help, being the best at everything isn’t necessary. What is is a lot of determination and stubborness not to quit, but to keep doing what you love to do.
Blogging is my hobby and it’s just a bonus if I earn some money off of it.
SVB,
If one includes the “cents,” getting to six figures happens a lot faster 🙂
LOL. I guess, technically, that is correct. I’ll go out on a limb and say that this probably occurs more often than many people realize. 🙂
I’m with PinoyTech, blogging is just bonus money for me.
This might be the single greatest blogging comic I’ve ever seen in my life.
rofls.
“Master of teh internetz!!!11oneoneeleven.”
Brilliant.
nice one … a little deceiving, but funny.
LOL, that’s great! If that’s the case, then I’m doing pretty well with my online earnings already. 🙂
Thanks for the nice post. I find this very amusing! 🙂
Hehe, funny stuff dude. Enjoyed it, although I think its better to earn a living online. It’s passive money you know…. well sort of anyway :p
I still have my day job but this is nice extra money. Actually I also earn money at my day job as an affiliate too, our guy that does SEO and AdWords really is a genius and I have learned a lot just from him.
Yeah, i loving blogging and i am making some money from it. But you can really earn a lot if you get the SEO methods right.
There is no such thing as easy imo, everything takes time and hard work. If you want to make money online, then you have to put time into it ! Everything is possible, but nothing comes easy 😉
Kenneth
Six figures? Vous me kiddez, non? I’d take half that: three figures!
@FAM,
It depends on what you are trying to do — a lot of successful site owners have a network of sites and web properties doing different things (selling their own products, being a distributor, focusing on an undiscovered niche, doing software, fishing for clients through their websites, consulting for web companies, doing affiliate marketing and sales, etc etc and the list goes on!). A lot of others are partnerships and so they are able to leverage their efforts better. There are a lot of business models that can work — but like how it is in the physical (non-internet) setting, it takes focus, hard work, risk taking and luck. Gotta offer something people want and even if there’s a market (which you understand), it can be quite competitive.
But I can guarantee you that somebody out there is making out like a bandit! 🙂
Your warning that there are more people trying hard to get less spots gives you credibility. This is a well-written and fair article.
I want to agree with @Kenneth that everything takes time, hard work and also persistence. And there are no get rich quick schemes.
True – it takes work to make 6 figures. If it didn’t, everybody would be doing it. And usually, even with the seemingly “overnight success” stories, they went through months if not years or trial and error through other ventures before they made their “overnight success” with their current venture. The road to success is paved with failure.
With that being said, there are courses that teach what others have done which can dramatically shorten the learning curve.