After many conversations I thought it would be great information to start a small series that goes in depth of every type of way to make money online. There are so many ways to make money in the internet, putting all the information on one blog will be too long and boring. So keep coming back or subscribe via facebook #pmiyp or twitter @pmiyp to stay in the loop! So here we go!
Drop shipping is when you find a manufacturer for a product online for a discounted price and attract customers to their product. The delivery method comes directly from the manufacturer after you accept payment for the order. Then the customer receives the product(s) directly from the manufacturer.
Unfortunately I see too many people steer off the path of using the internet to make money. Mainly because they don’t want to spend money on the start up cost. So with DropShipping you have the advantage of NO over head, plus you don’t have to store any products and you don’t spend the time of physically shipping the items. All you have to do is run and manage your online store. It would take some time to get started but you could work anywhere in the world from your iPad or tablet!
For example, I have a drop shipping arrangement with a watch manufacturer in New York City and sell his watches at WindingWay.com. I buy the watches at wholesale prices in blocks of 10, advertise the watches on my site and use PayPal to accept payment for each sale. When the order comes in I (or more likely, Joel, my assistant) forwards the order to the manufacturer, and they ship it to the customer. If I was more energetic, I would also sell those watches on eBay.
Also, most of the customers don’t know you are dropshipping online, since ”private label shipping” lets you ship from the wholesaler with a return address and invoice customized to your e-commerce store.
SELL YOUR SERVICES
Many programmers, writers, graphic artists and data entry workers sell their services online through sites such as Elance.com
One friend of mine makes her living designing business cards and other printed materials for businesses. She sells her design service online . My friend Joel is a skilled web designer. He has turned his skill into a full-time business which he advertises on his website and offline. He has also been my trusted virtual assistant for years. If you are a sales person; market for other businesses’ services.
SELL YOUR OWN PRODUCTS
The most lucrative way to do business on the Internet is to sell your own product.
However, there are lot of factors to consider if you are planning to sell your own products online such as the payment system, the storage as well as the shipping.
Although there are already companies that offer order fulfillment solutions such as pick and pack services, drop shipping or even a complete fulfillment systems including the payment processing.
Depending on the type of product you will be selling online you may not need to store and to ship any goods.
Software and information products, in particular, are the best-selling products on the ‘Net and enjoy the best profit margins. Most cost virtually nothing but time to develop and entail PLUS no storage or shipping costs.
Can you write? Then write an ebook to sell on websites such as Clickbank.com You can even turn it into a softcover using a PoD (Print-on-Demand) service. (Just in case you are thinking, “I’m not a WRITER, that’s not for me“, ANY AND EVERYONE has knowledge that SOMEONE ELSE wants TO HEAR and there are a number of ways to produce an info-product without having to write a word.) I use a program called DRAGON which record my voice while I TALK so there is NO TYPING being done – just my mind firing ideas into words. Very Simple.