IDEA 6: Create a Web Agency: Earn 10,000 Dollars Per Month
A number of my online buddies have made tremendous amounts of money by creating web agencies. They start by creating a website which offers a comprehensive start to finish service. As the agency administrator you can then hire web developers from sides like ODesk and Elance and then project manage all the tasks. You can charge anything between $1000 and $5000 for a complete website design or makeover.
Building an online web development agency does take time because you need to build a solid reputation. The process begins by creating a professional bespoke website offering a host of web development services. Clients can either go with the full comprehensive service or they could pick from an A La Carte Menu. Once you start to receive orders you can delegate these tasks to experienced software developers in places like India, Bangladesh and Indonesia. Suppose you are able to secure 10 projects per month all paying an average of $5000 you could make $50,000 in revenue. After paying all your web developers you could generate at least $10,000 in profits like my online buddies do. The key is building a professional reputation and delivering excellence on each occasion.
This idea is something I would definitely consider If I needed more money. This quick money making idea is completely legitimate and legal and how much more money you earn depends on how much time you put in and how good you are at organising resources.