Google returns over 50,000,000 results when typing “Real Ways To Earn Money Online For Free” on the search engine. This serves as an evidence of one of the most important attributes the web has nowadays, which is the ability to connect sellers with buyers anywhere in the world and within just a few seconds.
We could say that the relationship between the Internet and your personal finance may take three different forms.
1) A freelance work opportunity.
2) A Residual Income stream
3) An alchemy machine, capable of turning your liabilities into assets
The Internet As a Channel For Freelance Work
Thanks to the emergence of the Internet in the 90s and its subsequent development, new professions have appeared that have a personal computer and a good broadband connection as their only tools to produce their yield.
These are some of the new professions the Internet has created, where it is possible to grow while “dodging” traditional work:
1) Community manager: its main purpose is to generate a positive feeling/relation with the brand in order to get users to become faithful clients of their products, services, and contents.
Therefore, the community manager offers his services as the link between the company and the community; he stimulates conversations and debates, identifies user needs and offers replies and solutions based on company values.
2) SEO (search engine optimization) Expert: his purpose is to implement, to design and to manage strategies so that the company appears on the first results of search engines, such as Google or Yahoo, for the topics and problems people look on the internet. I have written a very helpful article on keyword research SEO.
3) Web designer: He is in charge of the design of a company’s website, which may include: its logo or image, theme, banner, etc.
4) E-commerce technician: he fosters online sales strategies for “offline” companies who wish to venture into the market of Internet sales.
But these are just some of the new professions that have sprouted with the advent of new technologies. Without the need for such specialization, it is also possible to be active online selling products as an affiliate, buying or selling domains, or working as an online translator or interpreter, among many existing ideas.
These jobs can be performed under the freelance modality, offering the opportunity to work on several jobs at a time and thereby achieving a more “scalable” income when compared to that which would be obtained on a traditional 9 to 5 job.
A Residual Income Stream
Residual Income is the one which is generated without the need of an active work. Nevertheless, this doesn’t mean that money “falls from the sky”.
The creation of Residual Income systems has been simplified during the last few decades thanks to the emergence of the Internet. But beware: we are not talking here about creating new companies like Facebook or Google, but simply creating several residual Income sources that, when combined, turn into a continuous source of income that has the great advantage of not demanding a lot of our time.
The goal of a Residual Income should not be to become a “millionaire”, but it is rather a means to achieve financial freedom, which happens when passive income covers all total monthly expenditures (fixed costs plus current expenditures).
In order to create a Residual Income, it is necessary to create a system, which is nothing less than a set of elements that turn an input into an output. The customer wants your product or service, he pays for it, and then he consumes it without the need for you to intervene on any of these instances.
Afterwards, that system should be automatically managed, since a part of your passive income may be other people’s active incomes. This means that you may have employees, or better yet, outsource the functioning of the system to other companies that provide that service.
But, additionally, thanks to the advance of technology, nowadays it is possible to automate most of the sales, payment and general management of a product via the Internet.
As a final feature, the business should be scalable: that growth should not imply a lot more effort on your part. Marginal cost (that is to say, the cost of luring an extra customer or sale) should be very low, and that is achieved by basing the new system on autopilot. Working with a service or intangible product may make things easier, but it is not a must.
Some of the Residual Incomes that may be generated using the Internet are:
- Investing in stock or bonds by using online trading platforms
- Online advertisement (creating a site of your own and adding AdWords/Adsense advertisement)
- Youtube video channels (creating videos that have the goal of going viral and earning through advertisements placed on them)
- An online store ( a website that sells a product or service 24×7) and the best part is that you don’t need to have your own product. You can sell products or services from other people and earn a commission. This is what is normally called “Affiliate Marketing”.
The Internet As An Alchemy Machine, Capable Of Turning Your Liabilities Into Assets
I left this method for the end since it is , maybe, something very new to all. In terms of personal finance, alchemy is the ability to turn a liability into an asset thanks to the new advantages that certain Internet platforms offer.
A clear example of this is what can be achieved through international apartment lease companies. For example: If you have a house, this will be a liability on your balance sheet. Why is this so? Because there are expenses that you will need to pay in order to maintain the department, therefore, it takes money out of your pocket every month (Liability). But, if you have one or more empty rooms, you can easily rent them to tourists and turn that liability into an asset.
Likewise, there are companies that enable vehicle owners (which also have a liability due to its associated expenses) to carry passengers who are contacted through an App. Therefore allowing you for additional income, turning the car into an asset. This type of business is used by Uber.
This is part of a new trend, and opportunities of this sort will keep emerging. This means we should stay alerted.
To Sum Up
You don’t have to waste the positive attributes that both money and the Internet have. They boost each other, accomplishing a synergy that may result in the alchemy of our personal finances. There a lot of Real Ways To Earn Money Online For Free on top of the ones mentioned in this article.
We should be using the best features of the internet and avoid falling into the temptation of highlighting the most negative aspects. An Online Residual Income business comes as a great opportunity when faced with an increasingly technological and developed world.