5 Ways to Make Money from Home

So, you’ve decided you would like to make money working from home. Maybe you can’t afford the commute anymore because of high gas prices. You’re sick of your boss, your job, your co-workers. Maybe you just want to spend more time with your family or you need to make a little extra on the side. You might need the time to look for important advice if you’re going to tile a wet room in order to save some money by doing it yourself. Whatever the case may be, I’m here to make sure you have a basic understanding of what you’re getting into.

There are a huge number of ways to make money from home, but there are also a lot of people trying to make money off you. This simple list will help you decide what route to take and also give you some tips on how to avoid wasting your time and money.

1. Network Marketing

This is probably the most infamous method of making money from home, but it’s also one of the most lucrative. Also known as Multi-Level Marketing or MLM, it has created more millionaires than most other industries. Basically, you’re starting your own business, so there will usually be a start-up cost. There may also be a monthly overhead cost or minimum sales requirement, depending on who you get involved with.

What Do You Do?

There are usually at least 2 ways to make money. You will be marketing some type of product or service, and you will be recruiting others into your business who also want to make money. This usually involves calling leads, placing ads, and talking to people you already know.

You will make a commission on any sales or enrollments you make. You also make money when those on your team make money. This is called leveraged income. You may also have the chance to make residual income, which means you will get paid repeatedly for work you only did once.

2. Affiliate Marketing

Affiliate Marketing and Network Marketing are pretty hard to tell apart. Either way, you are marketing a product/service and making a commission. There are two main differences:

  1. You may not have to pay to become an affiliate
  2. You won’t be able to build leveraged income

What Do You Do?

You receive a unique URL or link where people can go to find and buy the product or service. When they make a purchase through your link, you get paid. Usually, you market this affiliate link by placing ads on your website or any other standard Internet Marketing practices.

3. Pay-Per-Click Ads

Google is probably the most well-known PPC program. You get paid anytime someone clicks the ads which you have placed on your website or blog. The ads are usually relevant to the content on your website.

What Do You Do?

You paste some code on your website and hope someone clicks the ads that show up. It’s really that simple. This works best in combination with a Blog or some type of website where you can attract lots of traffic by providing quality content.

4. Internet Freelancing

This just means doing odd jobs that people have posted on the Internet. You can find these types of jobs on sites like Craigslist and eLance.com.

What Do You Do?

Well, you basically do whatever the client asks you to and negotiate what the payment will be. This could be anything from basic administrative tasks to programming PHP. If you have a decent resume, you may find success doing this on a site like eLance. You will usually have to compete for jobs against other candidates.

5. Completing Offers

This involves anything from completing surveys to applying for credit cards. You get paid on completion of each offer. Project Payday is one of the main companies you can enroll with for this type of work.

What Do You Do?

You sign up for 30-day trials, credit cards, loans, and anything else you can imagine. You may have to pay for some of these things and then remember to get your refund once the trial is over. Someone who is trying to get a free Xbox 360 or 54″ HD-TV will pay you for completing these offers. I tried it and didn’t like it. It works great for others. If you don’t mind giving out your SSN and other personal info repeatedly, it may work for you too.

The Bottom Line

This is an extremely basic overview of your options. You will have the most success by doing more than just one of these. It all depends on how much work you are willing to put in and how serious you are about educating yourself on the details and techniques you will need to succeed.

I did research for months before I ever signed up for anything and that has really paid off. I have been able to really focus on what my strengths are and how to use them to earn an income. Once I chose to start helping people and stopped thinking of everything as sales and making the next dollar, my business exploded.

What have you run into in your search for financial independence? What questions or fears do you have about working from home or starting a home business? Feel free to comment below.