MONEY MAKING ONLINE – Part 1: Are You Thinking of Making Money Online?

There are many ways money can be made on the internet. In my own opinion and experience, these are the six (6) major and the best ways to do so in their order of importance:

MOney Making Online 3

 

  1. Freelance Writing,
  2. Affiliate Marketing/Advertising e.g. Amazon Affiliate, Google Adsense, etc.,
  3. Digital Product Creation e.g. eBooks,
  4. Products Reviews (on your Blog)
  5. Taking Surveys Online
  6. Online Courses

If you want to make money either as a blogger or as an author, the best bet still remains having a self-hosted website, though you may start as a free website, there are many platforms to do this: WordPress, Hostgator, BlueHost, SiteGround, Blogger, Tumblr, SquareSpace, TypePad, MovableType, Drupa, Joomla, Wix, Weebly, WPEngine, Blog.com, SimpleSite, Blogger, etc.

Note: The experts recommend WordPress as the best.

In this Part – Part 1, I will speak majorly on making money online as an Author.

If you are an author, you have chosen the overall best money making path. Why?

Authoring books generates the highest income.

  • Book Publishing generates income 50% in Online Money Making ventures.
  • Affiliate Marketing generates 25%.
  • Online Courses generates 12% of the income.
  • Speaking generates 10%, and
  • Sponsorship generates 3%

Note: I think it is very conspicuous, of all the listed paths by Joan Penn, that Book Publishing generates the highest income generally.

Now, get these more facts to make the best of your choosing path to make money online

  1. Income by Formats
  • eBooks sells 88% of the total income from all books formats.
  • Print Books generate 7%.
  • AudioBooks generates 5%

Note: What is this saying, you should make your books available in all formats. But, if you are asked to produce it in one format, obviously, that would be EBook.

  1. Sell on Multiple Stores
  • Amazon KDP sells 62%,
  • Kobo sells 12%,
  • CreateSpace sells 7%,
  • Apple iBooks sells 7%,
  • Amazon Audible sells 5%,
  • Nook sells 4%, and
  • Others sells 3%.
  1. Fiction or Non-fiction
Publishing Platforms % Fiction Sold % Non-fiction sold
Apple 90 10
Kobo 90 10
Amazon (Print) 60 40
Audible (Audio) 40 60
OVERALL 70 30

 

Note: Amazon owns CreateSpace, KDP, and ACX.

  1. We can deduce that Fiction (Imaginary stories – Novels) generates more income than non-fiction (Christian books, Memoir, autobiography, etc.), but this does not stop you to be a non-fiction writer.
  2. I would also suggest that, if you are a fiction writer, you should stay with KDP Select. If you are a non-fiction writer, you can diversify and use as many publishing platforms as you like.

Don’t forget to sip your tea when you are writing. Just playing!

 

Further resources and Readings on this Topic

Platforms to Publish and Sell Your Books

Platforms to Publish and Sell Your Books

How to Publish Your Book on CreateSpace

 10 Facts about a Blog

How did you go with this post?

Leave a comment below and let us know what you have in mind as per this matter.

Got a question you’ll like me to answer, if you don’t want to use the Comment Box, you can use “Contact Me” above for privacy. Please include your name, your blog name (if you have a blog), and then ask your question.

© 2017 Peter F. Adewumi

Photo Credit: Pixabay and Google Image Search

 

If you are impacted with this write-up, get any of these three books for more proven Success Tips. Thanks a lot.

The End Matters Most, authored by Peter Adewumi. (Print on Demand, eBook & Audio).

Attributes of Successful Employees by Peter Adewumi. (Print Book & eBook).

Virtues for Riches (Motivational Series) by Peter Adewumi (Paperback, eBook & AudioBook)

 

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