Two Conventional Ways to Make Money Online

Money Online

Making money online is a serious work. You can’t get accidental success through it. The reason behind people who start their own business is they know what to do. To be able to monetize your valuable skills and products online is amazing and a way to de-stress your life too.  So here in this article, let’s go-ahead and jump into the two conventional ways to earn online and what their pros and cons are:

  1. BY CREATING A COURSE

Online courses are basically a great way to convert knowledge and expertise into revenue. Online course is basically an educational content in the form of videos or written material to guide clients about how to do work for them.

PROS

  • Through selling online course, you can earn a lot of money by serving business to multiple clients with less investment of energy, time and cost.
  • Online courses come in diversified formats so it is easy to reach to different audiences.
  • With the uncomplicated payment plan, you will get paid for the online course ahead of giving access to client.
  • You have a full-fledge control on your offered online courses, as you are open to raise your price, limit number of people and issue deadline and starting dates on course too.

CONS

  • First an enormous effort was put in fabricating an online course then more work is still left for its marketing purpose. Marketing is the main task as it is a way to sell your product. For this purpose, use variety of internet tools like blogs, email marketing, social media and many more hence ramping up the marketing cost of your business with substantial time investment.
  • Access of course material can be easily shared by client to others hence violating its privacy and promoting un-paid sharing.
  • Unlike offering services, to sell online course is a very risky as there is always a chance of failure that may be people will like it or not.
  1. BY SELLING A SERVICE

To sell your services is basically selling your knowledge to client but according to client’s way and needs. Represent yourself in a way that favors potential clients and be cooperative to them and be their problem solver.

PROS

  • In contrast to online course, services are only provided on client’s demand. They are never pre-made.
  • More scope of getting higher paid because of the fact here client advertise much specified task and then hires someone who they think interested in with great admiration of their high quality service and understanding.
  • There is an opportunity to get repeated income on the same project by updating monthly.

CONS

  • Time taken as every project is customized according to client’s needs.
  • You have to put up different set-ups to create service for different clients, making cost high.
  • Opposing online courses, payment plan in services is bit trickier as contract need to be arranged prior to or after the delivery of service. However, a risk lies here that client may not like your work and refuse to pay too.