People are always searching for ways to make money, and unbeknownst to most of them they most likely already have an incredibly powerful tool within their reach. This tool can help you make money or even residual income several different ways as long as you are willing to do the work it takes. So, what is this brilliant tool?
It's a domain! Believe it or not people all over the world are making money utilizing their domain names in ways most people wouldn't even consider. Listed below I'm going to talk about three of the options you might want to consider, one of these are considered profitable almost right away, where as the other two take a little bit longer but are just as valuable if not more so!
Domain Parking -
If you have a domain, you could be earning potential money from it. This is one of the easiest ways to make money online! If you have a domain simply join a site, park your domain, point your DNS settings at your registrar to the parking site, send visitors and voila that's it. Of course you can't tell people to do searches on your site, or tell them to click links but you can earn good money from this!
See, ads or "feeds" are placed on the domain from sites like Google and Yahoo. When people do searches on your site google pays the domain company and the domain company pays you a certain percentage of that money. Pretty easy. Check out forums and message boards for some of the best sites to join!
Domain Real Estate -
If you know anything about domains, and can get your hand on some good ones for, however, much you are willing to spend, you can make a living buying and selling domains. Buy low sell high, type thing. You can sell domains pretty much anywhere but there are certain "official" websites for this kind of work, such as afternic and sedo. But you can also sell them on forums such as NamePros or DigitalPointForums. Don't think just because your selling them on forums you won't make good money. I've seen people on NamePros selling and buying domains for as much as $35k!
Affiliate Programs - Almost every single website out on the Internet has some sort of an affiliate-ship, affiliate program, profit sharing program, etc. An Affiliate program is a program you join as an affiliate from a website. These can be large well-known websites such as Amazon, AllPosters, ProFlowers, etc. Or they can be from other sites you may not have heard of.
Check all of these sites out. A good place to find a directory for Affiliate Programs is a site called AffiliatePrograms. You can earn a percentage of every sale you make. If you're an expert sales representative this would be the way to go for you. Me, I'm not so good at selling stuff, but that doesn't mean I don't belong to a few programs! They also have affiliate programs where you can get paid for getting people to do trials, or if you can get people to download things like computer software, e-cards, e-books, etc.
Regarding the first two options, the point a lot of people try to make when doing domain parking is that they not only can make money from it in the meantime, but if they build up enough traffic and heighten the "worth" of the domains with traffic, page rank and backlinks that they can eventually be led to option number two which is the domain real estate option.
Chances are if you have a domain name you just bought, it's not going to sell for $35k but eventually after building traffic, backlinks, page rank, and even making money from programs like AdSense on your site you can raise the level of worthiness to the domain name. Another thing to think about with both the domain parking and the domain real estate, is the type of domain you have.
A good domain is considered a good domain because of certain "rules". These rules include things like .com extensions, valuable keywords, niches that are popular, and even the amount of characters per your domain name.
For example a 2 character domain name (even if it doesn't make sense) has a higher chance of selling or being worth more than a site with 23 characters. This is really one of those "trial and error" deals, I don't have all the answers after my experience, but I do have a few hints and tricks, the same hints and tricks you will figure out once you are in the "game" for a while.
Just tweak the site where you can and try to make money with it in the meantime or work a little harder, and sell it for big money down the road, whatever works for you!