I am going to be making a serious of posts on the art of making money online on a bi-weekly basis. In each post I will be bringing you one simple method you can use to make money without the high costs involved in traditional methods.

A few things to remember though:

• Making money online is not easy, simple methods are available yes but by no means am I telling you its easy.
• Making money requires some investment to get started, both in monetary funds as well as time.
• Above all making money online requires dedication and discipline, be prepared to put the time in and stick to the plan.

Lets kick off with part 1 then shall we.

The first method you can employ to generate an income working from your own home using the Internet is blog flipping. This is probably one of the simplest method available but requires “Work” to set up and to run. There are 3 business models involved in this method:

1. The developer model – Building from scratch then selling for profit. Low outlay with low returns.
2. The investor model – Buying established blogs, remodel and sale on for profit. Involves a high level of investment with higher returns compared to the first model.
3. The speculator model – This one is the buy low and sell high model. High investment level with high returns but involves holding on to your blog for a while.

Since we are starting on a low budget and starting at the low level this article will be concerned with the first model, the developer. This is what you will need to get started.

1. A reseller hosting account – a normal hosting account won’t do it has to be a reseller account. I use heartinternet.co.uk for mine, but a quick search on Google will give you more options.
2. A good domain name – prefarably with the keyword of what we are doing in it. You can grab one from GoDaddy.com for around $6 to $8
3. A working knowledge of  WordPress and MySQL databases – You will need to be able to install WordPress manually, forget the one click install with fantastico.

As a start up do a research for a niche that is hot, then delve a little deeper and pick a niche within that niche. Formulate some keywords and use those to for a domain name and register it.

Once you have a domain name link it up with one of your hosting packages from your reseller account and setup wordpress. Now write 3 posts and publish one of them while scheduling the other 2 to be auto-published in a 24 hour interval.

At the same time list the blog for auction at sitepoint.com and set your reserve taking into account of the cost of the domain name, the hosting package for a year, auction fees and your time. Here’s a breakdown of how I price my blogs that I put up for auction.

• Cost of domain = $10 (This is what you are selling it for, not how much you paid for it).
• Hosting = $30 per Annam (This will depend on how you have set up your hosting accounts and the price you have set per month x 12).
• Auction fees = $10 (This is what sitepoint charges for each listing).
• Your time = $30 (This is totally dependant on you as to what you believe your time is worth, remember this also includes the setup and configuration labour plus the first 3 initial posts).

If my maths teacher taught me correctly the above adds up to the sum of $80. So a reasonable reserve figure of $97 would be in order but you can set at say $127 or $147 to test the waters so to speak. If you realy did your homework and came up with a top notch domain name then asking for such amounts is very reasonable.

One thing I love about sitepoint is that  they allow you to set a Buy It Now (BIN) price for your listing. This is a great facility as some investors or speculators frequent the auctions and they don’t want to hung around for the auction to end when they spot a good investment opportunity.

For the BIN I tend to price my sale around twice the set reserve price. So if I’ve set a reserve of $97 then I would double that = $194 and round it upto $197 – there is something about a price tag ending with 7 and I don’t know what it is but seems to work better than a price ending with any other numbers.

Final words:

• Set up a reseller account.
• Do your niche research.
• Start by building one blog and selling it.
• Double your efforts for the next and subsequent flips.
• Total investment to start is less than $100.

Keep going by building your business up and once you have made a substantial amount of money you can move on to the next level. As Justin Brooke of sitefling.com would say “Go Bigger”

To your success,

Zulfikar.

P.S: Remember this; There is no such thing as overnight success, get rich quick or money for nothing – it takes “WORK” so put in the effort and reap the rewards!

Do share you thoughts and leave a comment bellow. Would love to hear your success stories

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