Your Connections: Money Musings Monday

by Shai Coggins on February 8, 2010

in JMMO Features

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Ooops. I just realised that I missed last Monday’s Money Musings of the month. So, I thought I’d make it up to you today.

In any case, how are you getting on with your 2010 Money Goals so far?

If you know me from my personal blog, you would’ve heard about my word of the year by now. And to me, it’s all about the word CONNECT.

And, I realised as I was musing about making money how important that word can be. For example, one of my current online money-making gigs is made through a connection. I met this wonderful woman online a few years ago and we became friends. We started working on a few projects together in my old company. Then, when she had her own company, I ended up working with her there. Proof that maintaining good connections can be healthy for your career.

So, for this month’s musings, I encourage you to think about your existing connections. Who do you know that might be a good connection? Someone who might lead you towards the right direction with an online business venture? Is there someone you’d like to work with? Someone you can work for? Make a list, if you need. Then, beside the names of your connections, write down what might be a good working relationship could be with those people.

Then, do tell us all about.

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amazon-webstore.jpgImagine having an online shop with the power of Amazon’s technology… secure shopping cart, customer reviews, product previews… Yes, that’s what Amazon’s offering with one of their latest products, the Amazon WebStore.

If you’re considering setting up your very own online shop, this might be an option. If you expect to sell on a regular basis, or if you’re already running an online shop and you’re thinking of a better e-commerce solution, then this is definitely something worth thinking about.

At the moment, they’re allowing sellers to try the store for 30 days for free. Then, after that, the payment is from $59.99 a month, plus 7% commission from every sale.

Yes, with that kind of price, it’s probably a bit daunting if you’re just starting out with e-commerce and you just have a small operation. But, it might still be worth it if you’ve got a need for a decent online shop.

Anyway, if you already have an Amazon WebStore, do let us know what you think of it. You’re also welcome to tell us all about your WebStore!

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So, here’s our latest JMMO poll. Our first one in 2010! This time, let’s look at your spending habits online -

What kinds of things do you buy the most online?
  • Add an Answer
View Results

Hopefully, this will also help you all figure out some of the best ways to make money online.

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file-factory-rewards.jpgWhile looking for a place to store some of my files for free, I found File Factory. I thought that this might be a good solution to put my files that can be made available for download. This way, I don’t have to host the files on my server, and we won’t get the bandwidth strain.

It seems like a fairly simple service to use. Just sign-up and upload. You get 100 GB of file sharing space. That’s a lot.

There are two types of services available: Basic (Free) and Premium ($12/mo or $99/year).

The basic service has some limitations, such as download limits for your users. When you upgrade to Premium, you take off that limit. Plus, you can also take part in the File Factory Rewards programme, wherein you can get paid for the downloads that your users make. The payments vary, but for power users, they promise to pay about $10 per 1,000 downloads.

Yes, not only do you get your files hosted, you also get paid when people download the stuff that you put up. This is great if you’ve got a popular file that people enjoy downloading, such as music, ebooks, etc. That way, if you’re offering your file for free, you can still be rewarded if you host it on File Factory. Sounds like a great idea. But, I have to admit, I have only tried the basic plan for now. I’ll have to gauge the usage of my files to see how popular they’d be first and then decide whether I’ll benefit from the rewards programme or not.

Try File Factory.

Then, let us know what you think of it!

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Well, hello everyone. I know it has been a while since I updated this blog. I’ve been away on holiday overseas and just took a while to get back on track with work and stuff. In any case, I thought as a welcome back gift, I’d share with you the results from our last poll, where we asked how much money everyone made online in 2009. So, here you go —

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As you can see, the unfortunate result is that 44% of JMMO readers and visitors haven’t made any money online at all. And, I really wonder why. There are so many avenues to create some extra income online and most of them really doable.

Anyway, on the flip side, it’s good to know that 56% of JMMO readers and visitors have managed to make some money on the web. Sure, the range is huge – between $1-10 (10%) and “More than $10,000″ (11%). But, hopefully, this encourages the 44% who haven’t had the opportunity to make some extra cash in 2009.

Between those two extremes, the next highest percentage that made money online is in the range of $1,000-$5,000 (8%). Now, I believe that this is a good indication of the possible extra income that an average person can make online, given the right online venture and the right effort. I know that’s not a lot. But, unless you find the right online business and you give it almost a full time job attention/effort, then it can be tougher to go higher than that. But, with a part-time effort and a good online venture, adding $1,001-$5,000 to your income can be a real bonus, right? That’s why with the help of JMMO, I’m hoping that more of you can get to this level – AT LEAST. Hopefully, more.

In any case, here are the rest of the income reported here in our last poll -

  • $11 – 50 (5%)
  • $51 – 100 (6%)
  • $101 – 200 (5%)
  • $200 – 500 (5%)
  • $501 – 1000 (3%)
  • $5001 – 10,000 (3%)

Thanks to all the 743 poll voters. I really appreciate your input!

I’ll be sharing our first 2010 poll shortly.

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Happy New Year!

It’s the first Monday of 2010 and I just want to wish you all a good year ahead.

Do you have any resolutions or goals for the year with regards to making money online? What are your plans and hopes for the year?

Whatever they may be, I wish you all the best. And, do let us know how you go with your online ventures. Hopefully, JMMO will be provide you with some useful information to help you with your 2010 goals and resolutions.

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As the end of the year draws to a close, don’t forget to vote in our last JMMO poll for 2009. We’ll report our findings shortly!

How much money have you made online in 2009 so far (in US$)?
View Results

Thanks again for all the support! Have a great new year!

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Once a month, I try to take a moment to say thank you to JMMO’s latest main sponsors. Just a small way to show my appreciation to the people/companies who help to keep us going here. So again, I say, THANK YOU to -

Please note: This is just an acknowledgement of the support that this site has received from these advertisers, as such support help to run JMMO. This is NOT an endorsement of these services/products. You are always encouraged to do your own research before engaging in business with any of our advertisers.

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On this day, I’m not in my usual “work from home” office. I’m actually travelling for a few weeks during the holidays. Off to Singapore, England, and South Africa to visit family and friends, as well as to do some tourist-y things.

It’s actually very strange to be writing this post in advance. But, I thought I should do it, in case I don’t get a chance to be online for this last “Money Musings Monday” post of the year.

Can you believe it? Yes, this is the final month of the year. Next time I post a new musing, it will be a new year.

How did your plans and hopes to make money online turn out for 2009? Did you achieve your goals? Did you get anything started?

Mine’s actually a mixture of great things and not-so-good ones. But, overall, I consider this to be a good year.

As an online entrepreneur (currently part-time), I find it really amazing to think that even though I’m travelling or enjoying the holidays, my sites and such will continue to make money for me. Sure, perhaps, not as much as when I’m actually focussing on them. But, I still love that I can “keep shop” whilst I’m actually not around. That’s the beauty of online businesses.

So, if you haven’t had a chance to consider it just yet, give it a thought for 2010. Perhaps, it might be a good year for you to venture in to online entrepreneurship. Or, if you’ve already started with it, it might be a good year for you to start growing your business online.

No matter what you end up planning and preparing for, I wish you all the best. And, I hope you’re having a wonderful holiday season!

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Q is for…

by Shai Coggins on November 21, 2009

in Basics of Making Money Online

This is part of the A-Z of Making Money Online series. This series covers various ways of making money online, in alphabetical order.

Now here are some money-making ideas that start with the letter Q…

  • Questionnaires – I’ve heard people making money online by taking surveys and questionnaires. However, all the sites I’ve tested so far haven’t really resulted in to any real income. So, I’ve hesitated to write more about this topic. But, I’m told that it’s possible, so I thought I’d mention it here anyway. I’m still doubtful.
  • QuickShop – This is a Wordpress plugin to help you build an online shop.
  • Quizzes – One great way to introduce interactivity in to sites and social networking pages is through quizzes. People some to love taking them! That’s why many sites have dedicated services just for making and taking quizzes, and it’s how they make money online.

Hmmm… As you can see, I haven’t really encountered a lot of Q-related sites and services that help people to make money online. What about you? Do you have any suggestions?

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