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What do I have the best chance of making real money (say $50/day) with?
- Apps: iPhone/Android/WinMo/Ovi/Mac App Store/iPad
- Web apps: like most of the things that come up on HN. (Appt Reminder, for example)
- Digital content: ebooks on easy to learn and write about topics. Think long spammy testimonial pages
This can provide some very interesting options (and lucrative, affiliate) revenue streams; possibly generating passive income for years to come.
People (read super aff marketers) have written eBooks on this very topic i.e. how to build long-term, passive income streams with eBooks - if you scout around a bit, I'm sure you'll find a few.
HTH
Think about your current skill set versus what you would like to learn that would help your career and future earning potential. Balance those two items to help you choose.
If you have an interest in all three develop all three ideas over time.
For the short term I would pick the area that you are most skilled in so you have the best chance for success.
Digital content probably has the best chance for success depending on your knowledge base and target audience. An e-book could be put together fairly quickly. Pick something you are passionate about and put one on the market and see how it goes.
Web Apps are great for reoccurring revenue, the software as a service model is one of the best business models out there. Find a problem and solve it with a web application.
Apps would be the most difficult to break into and have a money maker the first time. It's definitely a high demand skill and something you should develop for the future if you have an interest.
Recommended listening for inspiration:
My advice to you is... try as many small ideas out as you can, see what does earn a bit. It's not that hard to get something earning a couple dollars/day, just doing it again and again is the hard part.
From my experiences, they make you create terms of service for every web app no matter how tiny. Are there ways around this and what do you suggest?
I think apps and web apps are good options and digital content is hard to sell unless you have a big audience to begin with. If you don't people will wonder why they should buy it from you.
I also agree with ohashi to try as many small ideas as possible. Just get the content out there.
My advice to you is... try as many small ideas out as you can, see what does earn a bit. It's not that hard to get something earning a couple dollars/day, just doing it again and again is the hard part.
Aren't payment processors a pain? From my experiences, they make you create terms of service for every web app no matter how tiny. Are there ways around this and what do you suggest?
For something with almost no delivery cost (digital content), as long as you're clearing transaction charges, you are still making money, right?
Maybe money isn't in charging for the apps at all? What about ads? Lead gen? Affiliate Programs?
Don't sell yourself short, all of these options could easily bring in more than $50 per day. Think about your current skill set versus what you would like to learn that would help your career and future earning potential. Balance those two items to help you choose. If you have an interest in all three develop all three ideas over time. For the short term I would pick the area that you are most skilled in so you have…