40 Ways to Make Money Online

Myspace, Bebo, Facebook, Hi5, Orkut… the list is almost literally infinite! These are just the crème de la crème of social networking sites, the ones we’ve all heard of.

But check out myghetto.com; it sold for $105,500 and made between $3-4k profit per month. It had about 200k members which was undoubtably the most attractive thing about it. Users = money from a buyers point of view – the more users the better.

Or how about jibble.com – sold for $12.5k just over a year ago. A few thousand members, brandable name, running phpfox – a common script. Nothing spectacular, but the owner netted $12.5k for his efforts.

Social networking is the future of the internet. If you can build a niche social networking site and drive traffic to it, ultimately getting signups, be prepared for a bidding war when you put your site up for sale.

I myself am in the process of developing my own social networking site – BeerChief. They ain’t cheap or easy to develop and scale, but if you have the cash to invest, those things won’t be a problem.

Integrate this with number 31 (getting a facebook app) and 39 (getting a toolbar made), and you’ve got yourself a real solid money maker on your hands with loyal members and huge exposure. You are diversifying and not putting all your eggs in one basket, and that, my friends, is the key to being successful online. NEVER settle for one revenue stream. Always experiment, always try new things and you shall be rewarded.