Making Online Income: How Secure Is It?
If you read my blog, you know that I’m a big fan of online income. It’s one of my main pursuits and it’s something I encourage frequently to anyone. I know several people who make good money off the web, and I also know a few people that make enough to replace a full-time income from their online sources. While many individuals might consider making an actual living by making money online as an incredible feat, many still wonder how secure such an income might be?
Online Revenue Types
Before being able to come to a conclusion on the security of your online income, we first need to break down the different types of revenue from online sources. The level of security will vary for each.
Probably the most common revenue type, advertising can come in many forms. The easiest is through a service such as Google Adsense. Other forms include private, direct ads are common for people who run websites or web businesses.
Online advertising, as a whole, is still in its early stages. Even in an economic downturn like we’re experiencing now, online advertising continues to grow while traditional advertising struggles. Because of the fact that we’re in an early stage of online advertising, the risk to this revenue is very minimal. Risk: Low
Affiliate Marketing & Sales
Affiliate marketing sales are another huge source of revenue for web entrepreneurs. By recommending products or services to buy, you are definitely exposed to the success of that product or service. While you remain in much better shape than a traditional retailer in an economic slowdown, if you depend 100% on affiliate marketing, you may have a higher level of risk than other website operators. Risk: Medium
If you run an online sales or retail channel, you can easily be susceptible to an economic downturn or a new competitor. You must stay on top of your industry or sector and ensure you are offering the right products at the right prices. Risk: High
Since bloggers typically focus on the advertising and maybe the affiliate marketing revenue, blogging is a pretty low risk business model. It’s also very difficult to get to a level of high income where you can actually support yourself; but, I believe that if you can get there, you have a pretty stable, secure income.
I’ve read feedback from a few bloggers that make a living off their blogs and they view it as extremely secure since they don’t have to depend on anyone else. Unless something makes search engines disappear (unlikely), their traffic and income is very secure.
I think the biggest challenge for most people is that they fail to get off their butt and just start plugging away at a potential online income source. Since the cost is so low and it doesn’t require any special skills, just failing to get started must be the main reason that most people fail to pursue online income.
First, decide that this is something you want to pursue. Second, read through the blog posts in the Online Income Streams category here at 20smoney.com. These posts will help you determine the best course of action and provide tips on getting started with ease and with very little money. All it takes is you deciding that it’s time to make some money online! Who knows… it might turn into a full time living.