Following are the few ways, which can help you, generate money online with Facebook:

1. Selling ad space: This is the most attractive part when it comes to making money online on Facebook. This forms majority of the business people do on it. Some Facebook applications let sellers advertise their wares to Facebook friends and other members. This method can help you make a lot of cash online by selling ad space on their page through ad networks like Lookery, Userplane and Google Adsense. Facebook is free to place ads in this marketplace and there is no limit on how many you can place. You can also try out the Social Ads to see how it benefits you. If you do not wish to sell, there are commission based sales referral programs that can help you a great deal. Following are 3 simple steps that can guarantee you a steady stream of income:
   • Develop a Facebook page that interests some advertisers.
   • Create a space where ads can be placed on your Facebook pages and for this purpose install the My Stuff application that allows you to install any code on your Facebook profile and pages.
   • Find an advertiser who is willing to advertise on your Facebook page.
2. Selling goods and services: Facebook application Brand Tracker looks for upcoming concerts, events, and links to ticket selling websites. As predicted, people may start buying things from their own Facebook page.
3. Sponsorship: this feature has also helped many people in making quick, easy, and handsome amount of money.
4. Write a Facebook Book: it basically means advances and royalties for authors. So, you can make use of this option if you are good at writing content. If you are able to get good appreciators then you can surely earn enormous money online.
5. Write a Facebook Blog: there are already numerous good ones who cover it up all. Surely, there is room for many more. Once you get an audience for your blog, you can begin to earn lot of money online.
6. Sell your Facebook application: create an application on Facebook, bring it in the notice of some thousand users, try and fetch revenue from it and then offer cast Per Install ads via Adonomics and provide data to get an Adonomics certified valuation. This is a sure shot path to earn handsomely on Facebook.
7. Facebook applications as a consultant: As of now, there is scarcity of good developers and so they are in huge demand. If you think you have it in you, go and fill up the vacuum there and earn sitting at home.

Facebook is one of the largest social networking sites. People all around the world use it to connect to each other. It was formerly created for high school and college students. It opened up for everybody in 2006 and then later in 2007 it opened up itself to developers. Therefore, it launched enormous opportunity for its users to make money online. From the time Facebook has opened up for developers, it has seen new applications overflowing. Many people are constantly developing new applications on Facebook and many of them are even used by various different users to create pages that appeal to their own interests and needs. More than 1,900,000 users access the Facebook Marketplace application, which has now become a trend that is gaining fame.

However, not everyone knows that Facebook turned out to be very useful for business. Done right, Facebook can be your own personal money making machine.

So how to make money using Facebook?
Here I’d like to share with you, some how-tos, tips and tricks to make money through Facebook.

1. Develop Facebook apps
If you are good with programming, this is the most promising way to make money through Facebook. Zynga – the maker of many popular games in Facebook – is set to IPO in less than 2 years time with 2009 revenue expected to exceed 100 millions. Here are five ways to make money writing Facebook apps as suggested by Mashable.
* Write applications and sell them to interested parties
* Write applications under contract for third parties
* Display paid advertisements on your apps
* Charge for upgrades or premium status
* Get investor to pump in money
2. Sell via Facebook MarketPlace
You can present and market your product directly through you Facebook network of friends, regardless whether you are selling products to your friends or to a group linked by common location, workplaces, schools, colleges. In order for your friends and your group know about the product you sell, then you need to display products with market applications or the Facebook Marketplace. The steps are:

Participating in a network
* In the top right corner of your profile page, choose Settings> Account Settings
* In Account Settings page, select the Network tab, then type the network name you want to follow, such as Jakarta Webmaster or Colorado.
* Fill in required information and click Join Network button. You will receive confirmation of successful registration to the network.

Display products in Marketplace
* Select the Applications button in the bottom left corner of your Facebook page, choose the Browse More Applications.
* On the application directory page, key in “Marketplace” on the search box (on top left corner of the page) and press Enter
* After that look for and click the Marketplace (by Oodle, Inc) application.
* Select the Go To Applications
* You may be required to choose your location. Select location closest to you (e.g. Malaysia).
* You can see multiple categories of the Marketplace is displayed. There are Housing, Vehicles, Jobs Opportunities, Items for Sale and so on.
* Click the button +Post next to the category closest to your product.
* For example choose Items For Sale
* Write name of the product you want to sell, at the “Post in Items For Sale” and click Post
* A dialog window will ask you to Permit Application Marketplace, click the Allow button
* On the next page, write in the product name in the Title box, then fill the box Why are You Selling It? price, category and so on.
* Make sure you check the option “My Profile”
* Browse the photo and get the product images from your computer, if it is click the Open button
* Check the Terms of Use
* Click Submit
* Click Publish
* Done. You can now see this product in your profile page

Don’t like Marketplace? With the help of a couple other handy applications, you can also sell things on your Facebook profile. Whether it be your own music if you’re a musician, a shirt you designed, or old junk you have laying around, there’s probably an application out there that can help you earn some extra dough. From the list of Mashable’s 9 Facebook applications to make you money, check out CafePress, e3buy Auction, eBay, FlameTunes, Garage Sale, Lemonade, Music Blaster, My Merch Store, and
Shopit
3. PPC Advertising
Surprisingly, the most popular money-making model in the web is not so popular in the Facebook. This might be due to technical limitation. Advertising networks are unable to control their ads via Javascript as what they can do in the conventional web pages. I can only find one such advertising network that allows you to earn from ads clicks in your Facebook profile page. Check out the StatusMoney !
4. Affiliate link
Just like blogging, you can make big money through your Facebook profile from affiliate sales. It means you are promoting for someone else’s product in your profile and get paid if your profile viewer visitors end up purchasing the product based on your recommendation. Similar with blogging, there is usually some tracking mechanism for the referral. What you need to take note is that since Javascript tracking doesn’t work in Facebook, you need to filter those out and post only those referral link purely text. Read more about affiliate link at how to earn money from blogging.

Undeniably, Facebook is the most popular friendship site of many, including you, perhaps. The last time I checked, Facebook is the second most widely used website in the world, ranked right after Google.