Make Money Online. Suggest Tips, Techniques To Earn Money Online

While on a casual chat, one of my friends expressed the discontent of living paycheck to paycheck, 60-70 work hours a week, the boredom that slowly creeps in living such a lifestyle, the need to have multiple income streams in times of uncertainty like that we have now, especially with the concern of HITECH Act putting a brake on offshoring medical transcription jobs, that it’s high time we concentrate on our other interests parallelly, and that there has to be an escape route and a contingency plan as anything can happen in these turbulent times of global economy.  I too was convinced with his thoughts; however, I tried to persuade him like “You have bazillion opportunities on the Internet that to make a passive income online is not an unachievable dream.”  Though I have written a few articles to earn money online, all of them are essentially ways to monetize a blog, hence I couldn’t pinpoint any solid evidence to convince him except that of the blogging income that I’m already making online apart from doing medical transcription online.

So with that, again started my quest for a solid internet business model, an idea to earn money online for a decent living, and made a hard decision along with that: “If I could make a well reliable, passive online income of 5000 USD a month for three consecutive months, well above the average earnings of a medical transcriptionist in the US, I will be retiring from my full-time medical transcription job to pursue as an online entrepreneur.”  Unless you fix a target, start planning, and work on to reach the target, you remain an average Joe receiving the same paycheck lifelong or reduced paychecks month on month in tune with the fate of medical transcription.  You reach an earnings cap as an individual in medical transcription unless you expand the business by employing some medical transcriptionists underneath you, but somehow it hasn’t fascinated me for a long time.

I have fixed the target now but I don’t know when and how I will be reaching that target.  As of now, I do not have any concrete plans to reach that goal but I will be updating you the news of my journey to success on this blog, hence if you too are interested in joining my bandwagon, stay tuned.

So here are those goals that I’m chalking it out again.

• Make money online to the tune of $5000 a month for three consecutive months by working part time on the internet whenever free time is available and then quit the full-time job as a medical transcriptionist.  Instead of that $5000 coming from a single source, if it could be from multiple streams, the better.
• I’m not interested in any of the scams like online data entry, email reading, writing any sort of medical transcription ebook, filling in surveys, or work at home jobs but I want to live a 2-hour workday if I quit medical transcription.  My core focus would be online passive income or minimal amount of work a day.

The target is clear to get drilled into the depths of the inner mind when I read it over and over again, that the thoughts will now always be focused on the target.  Whenever you want to achieve a dream, write it down, stick it in a place well visible to you to read again and again, mumble it over and over, and your mind will definitely work on to achieve that target by any means.  And now for the action plan.

If you make a closed quote search of make money online or earn money online on Google, whatever that surfaces up seems to be a scam that separating the wheat from chaff seems to be rather a very tough job.  (These are the heavily sought after information on the search engines, and there exists a rigorous competition among websites to get on to the top of the results page for these keywords.)  However, while performing rigorous search neck deep on various search engines, I got two-three useful leads for you folks from those searches.  Bank on it if you’re in need.  They are companies hiring medical transcribers to work from home and information about companies recruiting MTs to work from home along with another interesting lead of online tutoring jobs, all of which I’m not interested as of now.  The other results that fancied me while performing the search are 100+ tools and resources to make money online without spending a dime.

With those searches leading nowhere, some ideas gradually churned out while performing the research.  Though constant blogging and continuous chucking of contents needs dedication, passion on the subject, passion on what you are doing, and constant effort, many bloggers are still making good figures blogging but those who couldn’t sustain blogging are lacking any of these characteristics.   Hence towards the march to reach $5000 of passive online income a month, I may have to use the following strategies:

• Blogging, slapping ads on the blog, affiliate marketing and/or other options (legally permitted by search engines).
• Buy an existing (website) business on the internet that has a potential to grow which is now available at a bargain.
• Looking out opportunities in social media.

Blogging:

Yes, becoming a six figure blogger is quite possible.  I have heard many making six figures of online income a month but they prefer to remain under the hood without bragging or sharing the experiences with everyone.  Unbelievable? Just see this single check for $132,994.97, issued by Google just for one month.  These people think in terms of companies and business models rather than websites.  To reach that goal you need complete dedication, hard work, time, and tons of patience.  Blogging at MT Herald fetches me the hosting and domain charges and a couple of coffees a month that cannot be substituted with the full-time medical transcription income for now.  To multiply that income to reach the $5000 level, I may have to quit the medical transcription job to become a full-time blogger but that won’t be wise at this juncture.

Buying An Existing Web-Based Business:

This seems to be a good idea while doing some research on it but as of now, I’m just a learner or to say better, a total zero on the basic elements of how to buy or sell a website.  Back in April 2009, I was thinking of John Reese and his domain income.com, the idea that fetched him $1,080,496.37 in a day, and I had an instantaneous flash of the word “incomeless” and went on and bought the domain incomeless.com.  I don’t know why that dictionary word didn’t attract the attention of anybody until then, as it is tough these days to find a dictionary word for your domain.  You might already be knowing the story of googleMT.  So that’s my online portfolio as of now.

To this date the ground rules that I’m able to understand is that to acquire a web-based business generating $5000 a month, one need to invest 1 to 2 years of that income as upfront investment to procure that business which works out to be $60,000 to $120,000.  Hmmm, a huge sum indeed!  However, I’m still at the surface and have to dig deep into this topic and will let you know the outcome.

Opportunities In Social Media:

Initially, I was a bit reluctant to socialize online thinking it as waste of time and being afraid of spam (even you might have noticed me following only a handful of people on Twitter earlier) but later my views changed realizing the immense benefits that social networking can bring into your life.  Even if social media cannot directly be used for money gains, it can become a source to drive massive traffic in your effort to making money with social media.  Though there are a few paid social media programs, the instant idea while thinking about making money on social media was sponsored tweets though I was reluctant at the beginning with the feeling of betraying my followers but John Chow’s convincing post of making $1000 in August alone made me to give it a second thought and finally went on to sign up with Sponsored Tweets.  You might already be knowing John Chow for his herculean efforts in sustaining traffic to his blog even after being dropped from Google for almost three years, and his blog income reports, his last reported blog income in October 2008 was $34,350.

Over To My Readers: So these are my initial thoughts.  My search to make money online to earn a decent living continues, and I will take you all along that roller-coaster journey.  Meanwhile, do you have any ideas, tips and techniques to make money online that could fulfill the aforesaid conditions?  Apart from winning your bread from medical transcription online, are any of you making a decent living online from home? I welcome your suggestions.

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