Learning how to properly diversify your income online is one of the many things you’ll need to do if you want to see any major success in the online world and be around for the long term.
This is something that I failed to do in the beginning and I end up paying for this severally several years later.
Years later, I was finally able to make a comeback as a result of diversifying my income sources.
If you have come to this post in search of ways to diversify your online income then you have come to the right place.
I’ll be revealing 4 killer ways for you to diversify your online income so that you can start to grow wealth.
I invite you to follow along and try and save your questions until you are finished reading this entire article.
I encourage you to leave your comments, questions, or anything you would like to add to this list in the comments below & I’ll get back with you A.S.A.P with a detailed reply.
Without further, ado, let’s get right into things today.
Are you guys ready?
1) Create Your Own Product
Creating your own product has got to be one of the best ways for you to diversify your income and have money rolling into your bank account at all times.
With a little bit of creative thinking and motivation, you could be on your way to launching your very own product and promoting it on your website.
This has got to be the ultimate way for you to diversify your income and gain financial freedom.
It’s also one of the many reasons why it’s ranked #1 on my list!
Do you have information about a particular topic that other people are searching for information about?
This could be anything from how to make money blogging to building your first computer tower step by step.
Chances are that people are desperately searching for this type of information and are willing to pay money for a course or how-to guide on how to do this.
Depending on the type of course you create will determine how much you can initially charge for this.
However, many of my online marketing buddies have gone on to sell their courses for nearly $200 or more.
If you just sold 5 courses a month this would be an extra $1,000 in your pocket at the end of the month.
Not too bad if you ask me, wouldn’t you guys, agree?
This has been something that I have wanted to do for quite some time now but haven’t gotten around to it just yet.
2) Offer Your Services
If you have been involved in the online industry for a good amount of time now, chances are that you have probably learned quite a bit in your journey as an online marketer.
Am I right?
Why not open a section on your website offering your services to other people who are in need of them?
This includes things like:
- Building mini niches sites that come with 5 to 10 pages of pre-written content
- Coaching & mentoring
- Website support & maintenance( looking over content, tweaking it, changing themes)
Also, depending on the niche you’re currently in you could offer additional premium services that have a monthly recurring fee to diversify your income even more.
These are just a few of the many different types of services you could offer your website visitors.
If you were to pick only 1 of the things I listed above, you could create a full time income from this alone.
3) Apply To Have Ads Running On Your Site
Another one of the things you don’t hear a whole lot about today when it comes to diversifying your income and building income streams is running ads on your site.
This is definitely something that you shouldn’t look over as you can make a great deal of money from ads.
This is solely based on how much traffic your site is getting on a daily basis.
If you aren’t getting a whole lot of traffic to your site just yet, you may want to hold off on this & wait until you are generating at least 500 visitors a day or more.
A buddy of mine is currently displaying ads on his site and earning over $1,000 in ad revenue alone.
This is in addition to his affiliate sales & other forms of monetization he has implemented on his website.
There are mixed opinions as too whether you should have ads running on your site or not and I guess this really depends on the niche that you’re currently into.
Personally, I feel like if you don’t have ads running on your site then you’re failing to properly monetize your traffic to its full potential.
4) Flipping Domains
If you’re looking to get into the domain business and create an additional income stream then I couldn’t think of a better way to do so, by buying & selling hot domain names.
In order for you to become successful in doing so, you would need to do a great amount of research to see what TLD’s are the best & which ones are selling for the most money.
A little tool that I like to use is GoDaddy’s domain appraiser
This little nifty tool comes in handy quite a bit as you can gain lots of valuable insight into a domain name without even owning it.
Sounds pretty sweet, doesn’t it?
Here’s how it works
Enter any domain name into the search box that you see below and their domain appraiser will look up the value of the domain to see if it’s valuable.
As you can see from the screenshot above the following domain that I entered is quite valuable and worth quite a bit of money.
Once you determine the value of the domain there are many options you have at your fingertips to sell this highly sought after piece of online real estate.
You can either sell this using Godaddy auctions or on a popular platform like Flippa.
You can usually list your domain name for either free or pay a small listing fee to get started.
I have built quite the domain portfolio over the years and as I learn more about this, I’m going to be eventually selling these to see how much they’re worth.
My Closing Thoughts
Learning how to properly diversify your income & create multiple streams of income is 1 of the most important things you can do as an online marketer.
This is only a few of the many ways you can grow your income to the point where you can start to grow wealth.
If you could just utilize 1 of these ways, you could earn a full time living from it.
When I first started out here years ago, I relied on 1 source of income for years and it eventually came back to bite me in the ass.
1 of the worst things you can do as an online marketer is to have all your eggs in 1 basket and fail to diversify your income sources.
Anyways, I really hope this post has given you guys some creative thoughtful ideas for building wealth and learning how to diversify your income.
Still, have questions or have a particular way that you have diversified your income that didn’t make this list?
I would love to hear all about it and answer these questions in the comments below.
Until Next Time
~Your Friend, Scott~
PS. Don’t forget to check out My Top Recommended Program for building an online business here.