Quick Tips on How to Make Money Online

research ways to make money online before Tip #1:  Research is necessary

Brushing up on your research skills may be necessary in any of the three types of services available to make money online. In online retailing just like in traditional retail stores looking at the supply and demand of the market is essential. This allows us to see what products could probably sell well or if the prices we set are competitive with respect to the others in the market.  A good tool to use for this type of research is marksight(http://www.marksight.com/). It’s a tool that monitors the products posted on ebay and  providing some basic information on what types of products are listed and how much percent of the posted product where sold within the 7 days of data gathered.
For oDesk, a lot of the jobs employers ask freelancers to do is to find information and  consolidate information on a single document or webpage. So the capacity to find information and sort it out is an essential part of  generalized freelancers job.To make money online finding out about what stocks are performing well, what stocks are going up or down and when to buy and sell are the essential bits of information needed to make a decision when dealing with stocks.  This is called technical analysis it is commonly done by broker companies that transact on a clients behave and is made available to their clients.  Unfortunately no technical analysis portal is freely available to the public. Most information of this nature is available thru online brokers like citiseconline.

Tip #2: Starting Small

The first tip on making money online using Odesk is “Start small.”Take small jobs with small payment values per project.  Starting small will allow you time to get accustomed the interface and system. It also allows you to do more jobs while building up a good history rating. Employers working thru oDesk give end of project evaluation that is open to other employers to view. These evaluation ratings may affect the decision of prospective employers to hire you when you apply jobs with them. The tip also applies to selling items on ebay.  A boss of mine once said that it takes money to make money and this applies also to make money online particular in online retailing. Start off with small items can be stored easily in your home or office until it is sold.These may also be much more low cost than other items such that your
capital is not held up for a long time on the product. Starting small also applies to stocks. Buying and selling stock may start with low volume stocks. Buying in low volume allows you to use up small capital but lets you accumulate more stocks by buying often.

Tip #3: Getting the best bank for the job

This tip applies to money transfers with oDesk and ebay in particular. Money transfers will entail some deduction to your hard earned money.The trick is finding the bank with the least amount of transaction charge as well as having easy access to its automated teller facilities.

Tip #4: Be patient

Sometimes it takes a while for your job application in oDesk to be sorted out. Employers will try to test your skills with trial jobs worth a small amount of cash or they will ask you to be available for interviews at wee hours of the night.  Do the required items and do the tasks and you should be generally alright.Being patient applies also to online retailing. Sometimes your product may not catch the attention of buyers and it would make some time for you to sell them. If they don’t immediately sell off don’t be discouraged just repost them again and price it competitively.

Tip #5: Do not bite off more than you can chew

This tip is probably the most universally applicable tip I have ever come by. It is applicable to oDesk and Buying and Selling Stocks.  In oDesk, the temptation to take on many projects at a time is always present in order to earn more but there is always a problem with respect to how you perform in each project. Pacing yourself out is better approach protecting your job history and letting you earn income.
For buying and selling stocks it also applies since the money you use to buy and sell stock must be your extra income. Using up the resource you need for daily expenses and payments to your bills is not a good idea for buying and selling stock. This is due to the nature of how stocks work.  Stocks work on a cyclic pattern they will go up and down in value. It is always better to buy stocks just after they hit the bottom of the cycle and begin to rise and in order to get a better
return on your stocks you may need to hold them until their value peaks off or starts to decline.

 

Trackbacks

  1. […] @ Easy Extra Dollar writes Quick Tips on How to Make Money Online – This tip applies to money transfers with oDesk and ebay in particular. Money transfers will […]

  2. […] @ Easy Extra Dollar writes Quick Tips on How to Make Money Online – The first tip on making money online using Odesk is “Start small.”Take small jobs with […]

  3. […] @ Easy Extra Dollar writes Quick Tips on How to Make Money Online – It’s a tool that monitors the products posted on ebay and providing some basic […]

  4. […] @ Easy Extra Dollar writes Quick Tips on How to Make Money Online – To make money online finding out about what stocks are performing well, what stocks are […]

  5. […] @ Easy Extra Dollar writes Quick Tips on How to Make Money Online – Brushing up on your research skills may be necessary in any of the three types of services […]

Speak Your Mind

*