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With the whole pandemicš· that's currently going on right now, most people are stuck in their homes and they don't know how to survive during these hard economic times.
Working hours being cut, salaries being slashed, and all that extra staff.
I get it, l know how it feels.š„
But what if l tell you that thereās other survival tactics out there?
YES!
I mean, there are other opportunities online which you can utilise & start earning some few bucks ā whilst you're at home, chilling with your family.
This article will reveal some of the best opportunities that you can utilise in order to get some extra income.
Some of them might turn into full-time income i.e. if you take them more serious.
Now, let me mention this;
Some of these ways will not make you rich, but they will only help you to earn some side income.
In my opinion, you should prioritise on the first three if you want to earn some significant income online.
With that being said, here's a quick overview of some of the best ways to make money online;
This is probably one of the best ways to get started online, since you donāt have to worry about creating your own products.
With affiliate marketing, you sell other people's products and you get a commission in return.
It's one of the āeasiestā ways to get up and running in less time, since affiliate programs are free to join.
In my opinion, affiliate marketing can turn into a long term business, which can make you a full time living {passively} i.e. if you do it correctly.
Some people out there are making more than $10k every month, without having to worry about creating their own products or dealing with any customer support.
If you're still brand new, this might be the best option ā since you get to partner with some of the biggest companies which are already known, and you start promoting products & services which people already know, like and trust.
Thus, if you're looking to get up and running today, check out this article ā which shows you a step by step blueprint on how you can get started with affiliate marketing the right way.
2. Dropshipping
2. Dropshipping
This is one of the most common ways to earn money online.
If you're not familiar with dropshipping, this is whereby you look for cheap products from China i.e. on Aliexpress, Alibaba, etc.
You then open your own ecom store using platforms like Shopify, and you start advertising those products on social media ā so as to send traffic to your Shopify store.
When someone places an order, you then contact the supplier to ship the product from China ā directly to the customer's location.
Dropshippers make their money by looking for cheap products and they resell those products at a mark-up price.
This is also a great way to make money online, and most of these products sells like hot cakesš.
However, you might need at least a thousand bucks to get started with dropshipping, since you might need some few inventory to get started with ā just in case.
Also, there has been some restrictions in terms of shipping terms due to the ongoing pandemic ā hence, some dropshipping businesses were hugely affected.
But dropshipping remains a great way to make money online as well.
This is probably one of the most lucrative ways of making some good income online, since information products sells like crazyš.
Digital products are not only limited to online courses, but can be something like a workout guide, which you can sell for some few bucks on Udemy.
This business model is very easy to scale, since digital products does not need any shipping or other related burdens.
You only put-in the work upfront in creating the initial product ā but once itās created, it can generate some long term income ā passively!
You only need to create one copy of the digital product ā and it gets distributed automatically by certain softwares i.e. when people buys the product.
Thus, if you have some knowledge in a particular field, you can monetise that knowledge by sharing it in the form of a pdf guide, eBook, etc.
You can also utilise sites like Indigitalworks ā where you can get some free PLR products, and you add your own twist to make the product(s) more unique (value addition).
But if you're so confident that you're an expert in a certain trade, then you might consider creating a more advanced video training, which is more in-depth.
You can utilise softwares like Teachable in order to create a professionally looking course in less time.
4. Freelancing
4. Freelancing
Freelancing is also a great way of earning some extra bucks online ā especially if you have a skillset that is on demand.
For example, there has been a high demand for graphic designers in recent years, since most companies need some cool designs for their advertising, branding, etc.
Thus, graphic designers are making some decent income from this wave.
You can take advantage of platforms like Fiverr or Upwork, since these platforms receives some huge organic traffic on a daily basis ā as these platforms have already built some authority over the years.
Thus, you can signup and get started with your freelancing journey through those sites.
However, it might be difficult to get clients if you're still brand new and you don't have any reviews yet.
But once you get your first few clients, you'll get some reviews ā which will attract even more clients in the future.
This is probably one of the best ways to create an income source for yourself ā especially during this pandemic.
Most people are stuck in their homes ā watching tv, because they have limited sources of entertainment.
Thus, this is the best time to create a YouTube channel, since thereās some people who're so eager to watch some new content.
Most people are so bored right now, since they're tired of seeing the same old creators over and over again, since theyāre spending most of their times watching tv.
But if you start your own channel today, you might get some traction since people now wants something different i.e. new & fresh.
Creating a YouTube channel is 100% free ā thus, thereās no excuse for not having your own YouTube channel.
But bear in mind that, it might take some time to reach the 1000 subs and 4000 hrs thresholdā but itās worth the wait though.š
When it comes to monetization, YouTube is more than just relying on Ad revenue.
You can monetise your channel using methods like affiliate marketing, whereby you recommend various products and services to your audience, and get paid a commission in return.
Thus, you can start making money from this method before your channel even gets to 1000 subs.
You can also create videos without showing your face i.e. if you're camera shy ā and it's also a great technique to get started on YouTube.
Probably one of the greatest ways to make a good income ā without having to handle any inventory.
This is a āsmart' business idea since you only buy some domains or websites, or even social media accounts i.e. from one platform ā and you resell them on another.
Itās all about identifying which markets are more cheaper than others, and you simply buy intellectual properties from cheaper markets ā then you resell them at more profitable markets.
For example, some people buy social media accounts on SWAPD, and they resell those accounts at Flippa for a profit.
I know of a guy who made almost a thousand bucks in profit in just a single day i.e. just by purchasing a huge social media account for a low price, and he sold it on another platform for a higher margin (in less than 24 hours).
Alternatively, you can look for expired domains which are no longer in use ā but still have the ability to receive some traffic.
Once you find them, you then purchase those domains at a pretty low price ā with the hope of finding a customer whoās willing to pay huge amounts for that domain.
However, this method is less passive, since you have to be actively working more often in order to keep up with the latest deals.
Other than that, it remains a great way of making some income online.
This is probably one of the most underrated ways of making money online.
Marketing agencies are making a good income just by providing services to big companies & brands.
The most common ones these days are Social Media Marketing Agencies (SMMA), which runs paid ads for huge companies.
You can easily hit the $10k/month mark, since you don't necessarily need to have many clients in order to become successful with this business.
You can have 5 clients ā each paying at least $2k, and this adds up to $10/month.
And the greatest part about SMMAs is that, once you find your first client, that client may start to refer his/her friends to your business, and you start to become more and more popular i.e. word of mouth.
But the biggest question is;
āHow can you start your own Social Media Marketing Agency when you have zero skills?ā
Wow, the truth is that you don't necessarily need to have crazy skills in order to get started with this business.
This is so because you can find a client, then you look for another person whoās better at doing the work.
You then pay that person his/her share and you keep the rest. (Drop servicing)
I have a friend who runs a SMMA agency utilising the power of outsourcing.
His job is to find clients and he gets paid to deliver the services.
But instead of him doing the work by himself, he goes to Fiverr to find a freelancer who can perform the tasks better ā at a cheaper price.
In short, he's just like a middleman ā yet, he's making more money than the person whoās doing the actual work.
Thus, you can copy this business model too, and you can start implementing today.
Selling merch has been a great business model over the past years, since you don't necessarily need to buy some expensive materials to get started.
All you need to do is to create a good looking design using sites like Canva, Designicious, etc.
Alternatively, you can also outsource the designs from Fiverr, Upwork, or 99 Designs ā so that you can have some more appealing designs done by a professional designer.
Once you come up with the designs, you can go to sites like Red Bubble, Tee Spring, Printful, etc. ā and you upload your designs to those sites e.g. on t-shirts, hoodies, coffee mugs, etc.
When a customer buys one of your designs, these companies does all the fulfilment for you i.e. printing the design on the actual item, packaging, shipping, customer support, etc.
Thus, itās also a great way to get started online ā since you can earn a living without having to worry about inventory, machinery, employees, etc.
Also, platforms like Red bubble receives a lot of organic traffic everyday ā thus, you can get some customers to your designs organically.
However, you might need to put-in some extra efforts like advertising your designs on social media ā rather than relying on organic traffic from Red bubble.
9. Trading Stocks/Cryptocurrency
9. Trading Stocks/Cryptocurrency
Trading stocks has been on the rise over the past years, since itās also a lucrative way of earning some good income online.
With the ongoing pandemic, there has been a sharp rise in the trading of crypto, since more & more people are now attracted into this industry ā as they were motivated by other successful traders.
Now, let me make this quick disclaimer:
Now, let me make this quick disclaimer:
Trading crypto can be risky ā since you can lose all your money in a blink of an eye.
On average, more than 70% of traders loses their monies ā since crypto trading is very tricky.
Thus, you must educate yourself first, rather than going in blind.
But for people who fully understands the game, trading crypto currencies like bitcoin can be a huge money making grind i.e. if you know how to properly play the game.
But before you start trading, itās advisable to seek some professional advice from an expert, so as to get more in-depth information about this industry.
10. Online Surveys
10. Online Surveys
This method has been around for years, and it continues to be one of the āeasiestā ways to get started.
What l like about surveys is that, you get paid to share some knowledge that you already have.
Hence you might not need to stress about doing some complicated research about the survey topic(s).
Thereās a ton of survey sites out there which you can apply for ā and start participating to make some few bucks (e.g. Picoworkers)
However, you might fail to make some significant amounts from surveys, since most of them pays peanutsš„ i.e. less than $1 per survey.
Thus, you might need to complete a ton of surveys in order to make reasonable amounts.
But the thing is, most survey sites have a limit on the number of surveys which you participate in ā since they like to provide equal chances to every member of the community.
Hence, surveys should only be used when you're just chilling at the bus stop ā whilst waiting for the bus to arrive.
(Never depend on surveys for a living)
If you want to learn more about surveys, check out this article.
Wrapping Up
Wrapping Up
So that pretty much wraps up our today's discussion on ābest ways to make money onlineā.
Making money online has become more common these days, since most people are stuck in their homes and they don't have the opportunity to go out there & grind for their families.
Thus, most people are now turning their heads towards online opportunities, so as to earn a living during this pandemic.
And if you're one of those people, l highly recommend you to take action & start doing something today, since that tiny little decision can have a huge impact on your life.
Find a business model which resonates with you ā and you find other successful people in that industry i.e. in order to learn how they did it.
With time, youāll start seeing some positive results i.e. if you stay consistent.
Frequently Asked Questions
Frequently Asked Questions
How Can I Make $100 A Day Online Without Investment?
How Can I Make $100 A Day Online Without Investment?
In this day age, there are many ways that you can make money online without any investments.
Business models like affiliate marketing allows you to earn that kind of money or even more without having to worry about investing.
This is so because you don't have to worry about production cost, shipping, or inventory costs since the product owner takes care of all these things.
Your job as an affiliate is to connect people to great products that solves their problems and you earn a commission in return.
But bear in mind that you will need to rely on organic traffic methods since these are free.
Although organic traffic is free, it takes time and effort to succeed with this strategy ā thus, you must be willing to put in the work.
You can also choose to start a marketing agency whereby you run ads for companies for a certain fee.
But you should first learn the necessary skills before you start this business, since you might end up flashing the company's ad money down the drain if you don't know how to run profitable ads.
But this is also a great way if you're willing to do approach companies through emails and you offer them your services.
What Is The Most Profitable Way To Make Money Online?
What Is The Most Profitable Way To Make Money Online?
Thereās no doubt that affiliate marketing is the most profitable way to make money online, since this business model is less complex.
As an affiliate, you don't have to worry about product cost, shipping, inventory, customer support etc., since these are taken care of by the product owner.
Your job is to find people who are interested in certain products then you connect them to great products and services that adds value to them.
In return, youāll get an affiliate commission as a way of appreciating your efforts.
Affiliate marketing is very scalable through ads, or creating more content on various platforms.
Thatās why some affiliates earn six figures every month.
In this business model, your profit margins can be as high as 100% if you use organic traffic or maybe 85% - 95% if you run effective paid ads.
Bear in mind that other business models like Amazon FBA have a profit margin of around 40%, whilst Shopify Dropshipping has a profit margin of 15% - 30%.
Thus, affiliate marketing is by far the most profitable business model in this era.
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