Thursday, March 8, 2012

Reinvesting Money Earned Online

There are an awful lot of people online trying to earn money everyday.  Everyone that I know starts with the get paid to sites such as MegaTypers, Superpoints, CashCrate, and the like.  Out of those people, most of them gave up when they didn't make much and quit trying.  A few people I know took the money from those things, blogs, and selling items on eBay and reinvested the money.  Those few people are the ones that I looked to when I started and said, "That's what I want to be."  Now those people are making a living on the internet and have quit there days jobs (except for one of them).  That one that didn't quit his day job is smart and he only works the minimum hours to get health insurance.

Now when I say reinvest this is where it can get a little foggy.  Some people take the money and buy items to resell on eBay and others went into stock trading.  Auctions and stocks can be some of the most difficult ways to make money.  eBay particularly because of the sheer amount of competition and stocks because of our economy.  One of my acquaintances did it right (in my opinion), he took the money that he made and bought a domain name and web hosting.  He created a site, referred to as a micro niche site, and sold eBooks. Basically he took a very specific subject that people are interested in and found someone that wrote an eBook on the subject.  He studied the eBook and the subject for awhile and then created an information site that answers the basic questions people would have.  He sold advertising space on the site and earned money from that and then he also earned money from the eBook sales.  Anyone that needed more information would buy the eBook.

This wasn't an overnight success and this certainly isn't the last the internet heard of him.  He did a lot of work to get traffic to his site and worked on it constantly.  When he started to make money from the site, he reinvested into a total of 5 more of these sites.  At any given time he has 5 active sites and up to 5 sites ready to go when something goes wrong. 

His income isn't anything to shake a stick at either, he is currently making a minimum of $45,000 yearly.  That number fluctuates, but he hasn't made less than that.  That is how much he needs to live comfortably and any additional money is reinvested into his "company".  In his eyes the greatest part of this is that he is making money on autopilot and doesn't have to do much work each day.  He is able to work 40 hours a week at his day job and still makes money while on vacation.  I can't say that everyone would succeed at this, but it is definitely something to think about.  I would like to get into something similar, but I just need to earn the capital before I start.

4 comments:

  1. I'll just stick to blogging then lol, btw what subject were on the ebooks that he was selling?

    ReplyDelete
  2. @MynameisEarl - Various medical conditions like juvenile diabetes, arthritis in young people, and different things like that. He didn't share too much because he was worried that I would steal his ideas and compete.

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