This article was co-authored by Michael R. Lewis. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin.
The audiobook industry is booming, yet only 5% of books ever get made into audio format. If you’ve got a background in acting, or if people have said you’ve got a voice made for the radio, you can make extra money recording audio versions of independent and popular books. Sites like ACX connect authors with audiobook performers. So, whether you’re an author looking for more ways to sell your book, or an actor/voice actor looking to make some extra income, you can sell your services online.
This isn’t to scare you off. I simply want you to know that this guide is going to focus solely on ways to make real, sustainable extra income online. Not just a few quick bucks. I want to share all the mistakes I’ve made that got me to where I am now so that you don’t have to go through them, and can build a successful online source of income for yourself.
Find your niche partners, collaborators, and champions: As you’re creating your course, look for notable people who are also creating content in the space. Look at how their businesses operate and incorporate that into your own plan. You can also reach out to any influencers and make them affiliates for your own course. This way, they’ll be incentivized to share your content with their own audiences (which can be a major way to generate your first sales—it helps if you’re using one of the best CRMs for small business—and start building your own community!)
Facebook continues to expand and grow. Therefore businesses are spending more on Facebook ads. But here’s the problem: a lot of old school businesses don’t know what they’re doing when it comes to Facebook ads. Even newer companies don’t have the time it takes to learn the ins and outs so that they get the most return on their Facebook ads investment.
If you have the expertise or a passion or interest for a subject, you're ready to start making money with a blog. With a service like Blogger (www.blogger.com), you can start up your blog totally free. You can also create your own site and secure your own hosting for a low price, which is generally the route I recommend, as many free blogging sites have restrictions on what you can say or do, including making money or advertising.
Even in the age of automation, some jobs still require a human touch. Companies often outsource those jobs via services like Amazon’s Mechanical Turk. These jobs can be tedious — tagging images, transcribing videos, classifying receipts — and can take anywhere from a few minutes to a few hours. Pay depends on the task, and the person requesting the work gets to approve the finished product before paying you. That can leave room for scams, so do your research and join a community like TurkNation, which can steer you away from shifty dealers. Read more about doing tasks on Mechanical Turk.
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