How to Become an Internet Millionaire

1. Explore e-commerce. You can do this by selling your own product or service directly or by finding things you want to sell through an affiliate program, where you earn a percentage for everything that’s sold through your site. Companies such as Clickbank, the leading retailer of digital products, allows you to choose the products you want to feature on your website or blog and earn a commission for each one that is sold there (see Resources below).

2. Work on passive income. This is definitively key to earning large amounts of cash with minimum effort, which frees you up to work on other projects at the same time. Residual income simply means money that comes in without you having to work for it, such as earnings from a rental property, royalties from a book, earnings from advertisement and interests from securities and other bonuses. Passive income can also come from selling your own digital products through Clickbank by uploading the work and allowing others to promote it for you.

3. Set up your own website and sell advertisement. Revenue programs like AdSense can get you started until you have generated enough traffic to get paid advertisers in your site. Selling ad space is actually one of the top money earners for blog and website owners. Companies such as Smorty will allow you to promote your blog and match you with potential advertisers willing to pay what you're asking (see Resources below).

4. Teach others what they want to know. Some of the top online earners are coaches or experts who are teaching others a set of skills highly in demand, such as becoming a writer, losing weight or earning money from home. Most of these programs are automatic, which means your only job would be to promote the links, and wait for people to buy in.

5. Think long term. Any program that promises to make you an online millionaire in a short time is probably a scam. Instead of going after quick-rich-schemes, work your way through by investing time and effort in things that will generate income for a long period of time.

6. Blog. Many of the current internet millionaires are actually bloggers. Paula Neal Mooney’s annual list of millionaire bloggers offers a breakdown of who is making money online and how. Examples include people offering free website templates, an online dating site and a Q&A blog. All these people are earning over a million dollars a year using advertising as their main revenue source. Free blog platforms such as Blogger are great to get started or you can buy your own domain name and set up affiliate links and other advertising not allowed on free blogs.