If you’re an entrepreneur looking to start up your very own money making website, you’ll be surprised to know that there are actually quite a few different types of sites you can create.
Choosing the right one for your site can be crucial too. Some sites will perform much better than others; but some sites will require a lot more effort on your part to make. It you’re just looking for a part-time gig, or something you can do in your evenings, then taking up the challenge of a site that takes 20 hours+ a week to manage is just setting yourself up for failure.
There are four main attributes of sites I’m going to list:
- Time and Effort (in hours per week)
- Monetisation technique
Use these to judge for yourself whether your next entrepreneur venture is going to work for you.
#1 – Affiliate Sites
An Affiliate site allows you to list products that are sold on a third-party vendor and allow you to gain a commission for each sale you bring that site. There are many different affiliate networks, from the super popular Amazon Associates program (check out these Amazon Affiliate Sites or these ones here), to more singular products like BlueHost hosting. The main way these sites make money is by driving search engine traffic to the site, either by product reviews or commentary articles, and promote the affiliate products on the page. Each time a user clicks on a product from your site and buys it on the 3rd party site, you’ll get a commission.
Time and Effort: 10 hours a week (ish). These types of sites can scale quite well: you’ll need to write and create plenty of content for search engines to pick up your site, but if you’re in a less competitive niche, you may not have to write so much.
Experience: Little. You can create a WordPress site in minutes, sign up to the affiliate program and start an affiliate site today.
#2 – Adsense Sites
Google Adsense used to be one of the most popular ways to earn money with a website. But with the really low rates and needing a high amount of traffic to get anywhere, they have become a bit more unpopular. Google Adsense is a program which anyone with a site can sign up to you. Once signed up, you place banner ads on your website and earn a small amount of money each time you get clicks and views. And when I say small, I mean small.
Time and Effort: 5 hours a week- depends on how popular your site is. If you already have a high traffic site which doesn’t need updating much, you might not have to do anything at all.
Experience: Little. Same as above; all you need is a website with traffic and then you can slap as many adverts as you like on it.
#3 – Microtransations Sites
A micro-transaction site is a very uncommon type of site. These usually exist within games/services, where you buy various virtual items/currencies to use on the site. An example: Remember the site Neopets.com? They have an area on the site where players can buy items for real money. These items are virtual and exist in the user’s account. The amount of money players spend on these is incredible, especially if the site is really popular. The issue with these types of sites is that they require an incredible amount of knowledge, luck and skill. Creating a game in your web browser these days is very unpopular; most days Apps are dominating the landscape. But still, there are examples of sites using this technique all the time.
Time and effort: 30/40 hours a week. A game site that is constantly updated can be like a full time job.
Experience: Loads. You’ll more than likely need programming experience, project management skills and more.
#4 – SaaS Sites
A SaaS site, or also know as Software as a Service, is a site which provides a service for you to use and usually charges a monthly fee. Examples of this are Ahrefs (SEO Tool), DashLane (Password Manage Tool), Evernote (Writing application) and more. The difficulty in creating these tools obviously lies within the complexity. If you’re charging a monthly fee, there has to be a reason for the user to keep wanting to subscribe. Normally these types of sites work well with businesses with a budget, because they can afford to use the service with their large budgets.
Time and effort: 40+ hours a week
Experiences: Professional. Incredibly difficult to get going, but the amount of revenue can be amazing.
#5 – Membership Sites
A membership site is exactly what it sounds like: you make money by offering membership of a site’s features. Normally a site will offer a free, basic version account for you to test, but then they also offer premium accounts which give you the full host of features. Take a look at dating sites; these are some of the most profitable sites on the internet but also the most competitive. If you can guarantee you’ll get someone a “perfect match” on your dating site, you’re gonna bet the membership will be purchased.
Time and effort: 40+ hours a week
Experience: Professional. You may even need extra staff to help manage a site like this.
Hope these examples of money making sites helps you decide on your next adventure. Remember, planning your site beforehand will help immensely in the future; setup how you want to make money, how much time you want to spend and also whether or not you have the experience to do it. In case you don’t have the experience, you may need your own money to buy someone else’s time.
Writing for blogs is one of my favorite passions, especially if it is about entrepreneur or programming.