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esspressoman's avatar

What's the most effective way to make money online?

Asked by esspressoman (6points) September 1st, 2009

I know their are a lot of ways to make money online, but has anyone done any of them and saw instant results? What website did you go to or software did you use? If all you had was a laptop, a high speed internet connection and two free hours a day… what would you do to make money?

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19 Answers

rebbel's avatar

I always find that whenever i put my accountnumber (285530982216701) somewhere, the money flows in like mad.

Or online-poker.

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trailsillustrated's avatar

trade forex. learn how to do it correctly and be careful. dont use a robot. ps and to raise capitol to trade, flog stuff on ebay have a garage sale use your allowance

Darwin's avatar

Sell stuff people want that you can get cheaply.

I am a book junkie, so I both know and have a lot of books. Hence, I am an online used bookseller.

SeventhSense's avatar

Instant results-no. There’s no free lunch.
I worked hard on eBay to become a Powerseller.
And I have found the means to make income while I sleep but it’s taken me countless hours of preparation. Find a passion and then time spent will not even be relevant because you will be so immersed in something that you enjoy. As for me it was never just money. I enjoy the hunt for antique toys and it’s a plus when I make a profit selling them.

augustlan's avatar

@SeventhSense Is that your sole source of income? I mean can you actually make a living doing that, or is it a side thing?

Piper_Brianmind's avatar

www.surveyspot.com
www.opinionoutpost.com
http://us.toluna.com/
www.shutterstock.com

Just a few straightforward options for you.

You can also get free things from craigslist or freecycle, then sell them elsewhere. Or like someone else said, get stuff cheap and sell that. Check www.shopgoodwill.com. They have just about everything. I’ve seen quite a few leather coats on there for 5 bucks.

SeventhSense's avatar

@augustlan
I have another business, but yes right now it’s basically my only source. I travel all over the east coast to live auctions and buy and sell constantly. It’s not for everyone and infinitely easier when you’re single but one can do very well if they find a niche. You have to be willing to do much market research but the rewards are handsome if you are shrewd. And in this economy it’s very strange but people still spend money on just about anything.

I just stumbled upon a guy the other day and a little research into his business revealed to me that this man grossed 209,000 dollars in the last 90 days selling nothing but vintage and antique license plates! I have no doubt he’s been building and fine tuning his process for many years and probably spends thousands a month on product but grossing over 800,000 dollars a year from selling old pieces of metal? Nice work if you can get it.
But lest anyone think it’s pie in the sky. It’s like any business and not for everyone. And if you would like to compete in a hugely popular arena like electronics or cameras you best rethink that unless your name is Best Buy or Target. Some areas are just too competitive.
@Piper_Brianmind
It’s a good entry point except when you really try to make a living at it and you need to find sources of products that will provide a reasonable profit margin. I’m not willing to become Walmart and go with the selling cheap Chinese goods so I’ve had to become very creative and network far and wide to find the products that I want to sell and that bring me enjoyment. But the bottom line is the enjoyment. If I’m not enjoying the toil then it’s readily apparent that it won’t work and I have to find my motivation again.

It’s a good idea to eventually focus on one or two major categories as well. It gives you a flavor and a following.

augustlan's avatar

@SeventhSense Thanks for taking the time to respond so thoroughly! I appreciate it.

augustlan's avatar

I just realized I didn’t GA you for that. Now rectified!

Inofaith's avatar

The man with the licence plates is a good example I think. That given vs the digital cameras.

I think you have to find something that nobody else either wants to do, or hasn’t thought of. And then pour just as much hard work, effort and patience in it to build your business.

SeventhSense's avatar

And adjust your business plan every 90 days to follow the current economic climate. :)

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