So you’re not making money from your online venture, it’s been a while and it’s just not working. What should you do? I have composed a list of five key things that you should consider doing to turn this situation around:

1. Take a look at your prices – If you’re selling ad space or a product and it’s not selling. Take a look at the price, slash them a bit. Take the price down to a lower point and build up demand for it (people like more for less). Then when you have a good demand you can raise prices back to that point slowly and gradually (assuming that the price point from before was way to high and driving people away).

2. Utilize Traffic Resources – If you haven’t been until now, you’re in big trouble. Try to use as many sources as you can. Use StumbleUpon, Digg, Mixx, Technorati, Entrecard, Sphinn and any other decent service that can bring you traffic. If you have a good site, higher exposure will mean more readers/sales.

3. Hold a contest – Nothing gets you going/restarted like a good contest. Be sure to plan out your contest before you post it to make sure it stays steady. Once it’s out submit it everywhere you can, offer extra points for blog posts about it and get it known. You’d be surprised the wonders a good contest can do!

4. Get a third opinion – you may have been a lone wolf or partnership until now, but it’s time to get another outside source to look at it. This can come in the form of a paid or free blog review. It even can be as easy as pulling a person that’s vaguely interested into the picture and asking for their honest opinion. Repeat this a few times and you should be able to iron out many kinks your site has.

5. Stop doing what your doing – obviously if it’s been a while and its not working your not suited to it or are doing something wrong. If you’re not happy with it or feel your not suited to it in any way, pick something else. There are other opportunities out there that can fit your talents better. Explore them!

Hope those helped. Remember, there are other things you can do, these are just five key ones. I can’t say how many times I’ve seen people become frustrated then quit, leaving the online industry for good. Nothing in life is free, you have to work for it. Remember that, if it was so simple that everyone could do it, everyone would be.