Many people are now making money online. Maybe you’re looking to add an extra income stream or maybe you’re looking to free up some time. In this day in age, there are many ways to start earning a little extra income (or a lot). Below are 8 different ways to make money online.
This is one of the proven ways to run an online store where you do not have inventory. Aside from that, you also do not need to ship the products. The way Dropshipping works is that you setup your own storefront and then collect money just like a physical store. The only difference is that, instead of packing and shipping the products after receiving the order, you simply place the identical order with the distributor at a wholesale price. After that, the distributor will take care of shipping the products to the end customers on your behalf. The amount of profit that you will get is your selling price minus the product’s wholesale price.
This is my main method of making money online and I’m excited to announce an eCourse that details exactly how to do this. This eCourse will is suitable for complete beginners to seasoned vets and it’s structured to take you from Zero to Profitability in 30 days. Sign up below to get notified on when it launches.
Another way to make money online is through affiliate marketing. This is where you refer your customers to another business and take commissions if the customers make a purchase. As a result, your website will serve as both referral and marketing engine. The best part is that you do not actually need to sell any product. Aside from that, you do not directly collect money either.
After a sale has been made, the affiliate business will pay your commission. It usually happens on a monthly basis. One of the advantages of affiliate marketing is that the sale process is hands off. Once you refer customers to a certain business and then the customers make purchase, your job is done. This really makes affiliate marketing as a great way to make money online.
Keep in mind that affiliate marketing can be viewed as spammy if not done properly. Some affiliate sites will pepper their sites with any and all links hoping to get clicks. I prefer to only promote products that I personally have used and vetted.
Blogging is definitely a legitimate way to make money online. This strategy is something that needs discipline, persistence, and patience. It may mean writing different blogs every day for a year or so before you begin to see any money from it. However, there are exceptions to the rule, but it seems pretty common to spend a year or two building your blog, your authority and your brand before making serious amount of money.
To monetize from your blog, you can use affiliate marketing, sell products or eBooks, create a membership site, etc.
Nowadays, there are lots of innovations for starting an eCommerce business (see how to create a Shopify store in 5 steps). Some entrepreneurs want to have an eCommerce store to go with their brick and mortar shop, while some may view it as a hobby. Ecommerce stores come in lots of different shapes and sizes. Some use the dropshipping method while others sell custom goods (jewerly is popular) and other’s still buy in bulk and then resell.
Consulting or Freelancing
This strategy to make money online is one of the fastest ways to get started working online specially if you have a specialized knowledge or skills that other people are willing to pay for. Freelancing is usually performing a job where you create tangible and deliverable products such as completing a website, finishing video or design. Consulting on the other hand is offering guidance or training. It is good to know that there are numbers of websites that can surely hook you up with either consulting or freelancing such as Upwork, Fiverr, Freelancer, PeoplePerHour, and TextBroker to name some.
I do a bit of freelancing by creating websites for others. I have partnered with a couple agencies that will send me work from time to time. This is not my main source of income but I enjoy creating websites and don’t mind taking on a couple projects per month. Plus, I get to state my rate and price.
This is like being a real estate entrepreneur, but the difference is that, instead of buying houses at good prices, renovating them to add more value, and re-selling them for a good profit, you do it with the websites. If you really know what you are doing, you can surely find great opportunities to make money from website flipping. Most of the websites can be improved and offer a great opportunity to increase their value. Moreover, you can increase the value of a website with a number of methods such as doing effective marketing, improving search engine rankings, increasing the sales conversion rates and adding quality content.
I have both bought and sold websites using a website called Flippa.
Start your own YouTube Channel
Starting a YouTube channel is another way to make money online. If you can manage to start a very popular channel that gets a large number of views, you can become a YouTube partner. It means that you will get paid a small amount of money each time your videos are watched.
I do have a YouTube channel but I don’t generate any revenue from it. I use it to upload videos so that I can use them here on my blog. However, my brother-in-law has a YouTube channel that is generating revenue and that can be see here.
The easiest way to make money online with your website once you have established some traffic is to join advertising networks. It works by joining a certain advertising network for free like Google AdSense. Simply place their ads on whichever page of your own site you want. After that, the ads will automatically be targeted in order to match the contents on your pages. Whenever somebody clicks on any of them, you earn small amount of money. This is called as PPC or Pay Per Click Advertising. How much you make per click mainly depends on the topic of your site and how much the advertisers spend in that particular industry.