Pros & Cons Of Creating An Online Income – Should We Bother?
Pros & Cons Of Creating An Online Income
Creating an online income has been a big interest of mine for years now. I have had many successes and many failures especially when first getting started many years ago. Since then I’ve learned a great deal in regards to creating an online income.
In this article I will focus on the pros and cons of trying to achieve a successful income online and whether it’s even worthwhile.
I will start with the pros of creating an income online. I won’t go into too many details nor will I attempt to list them all here. Instead I will focus on 5 main points I wish to convey to you so you can decide if it’s something that interests you or someone you may know.
5 Pros Of Earning An Income Online
- Ability To Work From Home
- Financial Freedom
- More Time (debatable)
- No Boss
- Multiple Streams
1. Working from home gives you the ability to work when and how you want.
This means it’s more flexible to your lifestyle for example: if your a blogger then you can get out of bed make a post, have breakfast then come back and share your post to social media. Then you might go for a walk or even do both at the same time! Some methods of creating an income from can be something as simple as taking or making a video and uploading it to Youtube, whatever method you choose it will ultimately be this decision the determines your level of time input and the income it brings.
2. Financial freedom comes from the lack of a ceiling on your income.
Unlike most traditional jobs that are based on trading an hour of your time in return for x-amount from your boss. Since there is no limit on your earnings you can earn more than a traditional job in fact some bloggers make well over $100k per year from a single blog site!
3. More time to do the things you want to do which is something we all want right?
Working online gives you the ability to work where ever there is an available internet connection, by combining your online income generation with a passion or hobby you are effectively halving the amount of time you would have spent on each separately, giving you more time! Depending on your choice of method to earn your income this can be the reverse – just ask any blogger!
4. No Boss! Probably the most attractive reasons people decide to create an online income!
This day and age unless your lucky enough to work for a progressive and forward thinking company that cares about it’s workers like it should, then your one of the many that is stuck working for a boss that seems to enjoy getting the most bang for his buck usually at the expense of under paid employees.
5. Multiple streams of income which happens to be my favourite!
Why work and get paid once when you can get paid from multiple sources for that once off effort of work? Creating multiple streams of income is common place for many bloggers and other people who have moved online to earn their incomes. As a blogger if I sign up to 2 different affiliate programs and sell their products by embedding their ads into my post, I am effectively earning 2 different incomes for that once off effort of writing that post.
5 Cons To Creating An Income Online
- Most People Fail
- It Can Be Hard Getting Started
- It Can Cost More Time
- People Laugh
- It Can Be Expensive
1. Most people who try their hand at earning an income online actually fail.
Failing to earn any real substantially or ongoing income from all the work they put in which can be devastating enough to make them never try again. This is sad as many will be at a massive disadvantage in the near future when working online becomes more of a necessity.
2. Getting started can be hard for anyone.
First you have to decide where and how you are going to earn your money online and then you need to learn everything you can about your choice. Once you know enough to get started you discover it’s not as easy or there is much more involved to actually earn any real money.
3. Depending on your choice of online income earning it can be extremely time intensive.
When starting out for example this post is likely to take well over 2 hours to fully write, then if I choose to syndicate my content I will need to rewrite this post a few times before publishing them at various content sites.
4. Many people might scoff or laugh at the idea of you trying to create an online income.
As they have with me some people may think it’s silly, this is because they either think it’s a dream and not possible or they simply don’t want you to succeed out of jealousy or some other motive. If you have made this move to create an income online it may be you who have the last laugh!
5. It can be very costly if you do not know enough about what you are doing.
Many people spend hundreds and thousands on various services, products and courses often at the end of it they up give up throwing all their money, hard work and time away!
Should We Even Bother Trying To Earn An Income Online?
YES! With the myriad of ways that it’s now possible earn an income online and the looming automation of most work places it’s more pertinent than ever before to start looking at this as a real and valid way of earning money! If your a stay at home mum, a student or your average working class person and you haven’t began to examine the ways you could be earning money online than it’s better late than never to get started after all this blog is only one month old and I am already earning an income albeit extremely small and not even accessible yet but it’s a start!
If you want to try your hand at blogging and websites like I have then I have written a basic guide to setting up a WordPress website that’s worth a read, and what’s best you can get started for as little as $2 – $5 dollars if you do your research ( or you can just ask me 😉 ) for example this month I’ve spent about $7 on hosting so it can be cheap to get a website online!
What Am I Doing To Earn An Income Online?
First I have set up a WordPress website and blog, I will be focusing on earning an income from Adsense, affiliate marketing, kindle publishing and maybe App development. First Adsense is an income generated when anyone clicks on a Google advert on my website, typically unless you have a massive website with loads of content and many visitors the possibility of earning a sustainable income from Adsense is highly unlikely on it’s own. For affiliate marketing I will be using Amazon mostly for now, so far I have generated nearly 200 clicks to Amazon products but as yet haven’t made a sale which can be as much as 10% commission. Kindle publishing is another Amazon product that allows you to publish PDF Ebooks which you can earn up to 70% of each sale!
Amazon has been removed for a number of reasons and I will be investigating better affiliate programs.