Online Business - Social Media

What is the best way to make money online?

In today’s world of the internet, making money is no big deal. You, of course, need to be attentive to the emerging trends to make sure you are doing so legally.  But the opportunities are unlimited.  So the question raised by most people is: What is the best way to make money online?

If you are comfortable spending time in front of your desktop computer or laptop, there is an abundance of ways to make money online. Apart from putting your academic and professional skills to the test, you can also explore the creative side of your thoughts and mind while working online.

There are numerous examples of people who left their well-paid jobs and opted to work online, subsequently earning more than what they made in their previous employment. You may be putting in the same amount of work/effort online or offline. However, the advantage of working online is that you can pick and choose the place and time that that comfortable and convenient under your circumstances.

Are you hyped up to be your boss and start enjoying the freedom that comes with it? Take the first step and check out below some of the ways to make money online.

Run an E-Commerce Store

You can set up an online e-commerce store where you can sell your products – those that you make or those that you buy and maintain and inventory for resale. It may take a bit of set-up work and will depend on many factors.

Another alternative will be to operate your e-commerce website using a drop-shipping model. It means you do not maintain your inventory but sell an item from a third-party supplier or manufacturer, who then fulfills the order and ships directly to your customers.

The drop-shipping business model allows you to eliminate working capital to maintain inventory, reduce your operational costs, as well as enable you to focus all of your efforts on customer acquisition.

What is the best way to make money online - ecommerce store

Freelancing

Freelancing became a buzz just a decade back, and now it is everywhere on the internet. It is a way of choosing a job from a client and completing your committed deliverables within your agreed timeline.

Freelancing work ranges from blogging, content writing, graphic designing, coding, web designing, social influencing, or even ghostwriting. If you are an expert, you can also get professional jobs like architectural designing, machine tools modelling, animation, and much more.

The pay scale varies from job to job, and you can always negotiate the remuneration with your client. Several websites connect with clients around the world. You only have to log into them, register and start your work.

Online Tutoring

Teaching is one profession that is seeing less growth worldwide. At the same time, online education is becoming popular every day. If you are interested in teaching and can understand children, then becoming an online tutor is a great option.

Most of the educational websites and apps are always on the lookout for educators who have a flair for teaching even though they may not have experience. The payment starts on a lower side in the beginning, but once you get experience, you can earn up to $2000 to $6000 per month. You can even upgrade yourself to teach or guide adults in their projects.

YouTube

You might have subscribed to so many YouTube channels and wondering how much money they make out of the videos they post daily. Well, a study has shown that the top stars of YouTube collectively earned around $127 million in one year starting from June 2016 to June 2017.

If you want to become part of this bandwagon, then you should allow your creative side to flare up. Opening a YouTube channel just for the sake of earning money may backfire. So choose the area you are interested in or passionate about and slowly build on it.

Once you start enjoying the content you provide, it will monetize in the end. You may not earn millions, but you would make enough to keep your passion burning.

Google Adsense

If you already have a website or blog that generates enough traffic, then you must sign up with Google Adsense. Opening an account on Google Adsense will take care rest of the things and start posting ads on your blog or website.

Google tracks traffic, page views and the kind of people who visit your website and displays ads accordingly. The earnings will be directly transferred to your account. Even if you have average traffic on your blog or website, you may earn anywhere between $1000 to $2000 per month. You can then work upon increasing traffic and make more money.

Podcasting

Not all people have their way with words or voices. Modulating your voice according to emotions of a story may bring out hidden sentiments among the listeners. You do not need a radio (AM or FM) station for that.

If you can make people listen to your voice, you can record your voice and upload it on the internet. This method is called podcasting.

A new and engaging podcast may gather listeners within days or weeks. Once you acquire enough listeners, you can look out for sponsors who pay for advertising their product before, during or after the podcast.

Preparing content for podcasting may take time, but if you are a person who enjoys giving life to words, then podcasting is for you.

Affiliate Marketing

Affiliate marketing is a business model wherein the affiliate earns income (typically via commissions) by promoting someone else’s products or services, generally through his/her website. If the affiliate marketer generates a sale for the company, he/she gets paid. Otherwise, no as he/she is not a direct employee of the vendor.

Signing up for affiliate marketing is also one of the widely used means to monetize the views and visits to a website. If you are a well-known blogger or have a website that gets enough traffic, then collaborating with affiliates would allow you to make money.

What is the best way to make money online - Startup

Once you enroll in affiliate marketing, you will get a unique affiliate code that contains a link to a product. When a visitor to your website or blog clicks on the link and buys the product, you start making money.

Choosing an affiliate program, which complements your website’s ideology or in line with your blog’s content, would help the visitor to trust the product. For example, if your website or blog advises people on financial matters, then you should choose an affiliate program that deals with the business sector like banks, insurance, credit cards etc.

Final Thoughts

Earning money through the internet is gaining momentum every day and attracting a vast number of people into its fold. If you are thinking of shifting to online jobs, then there is no point in hesitating.

Start with a simple model.  You can even do so for free.  You just have to get your feet wet, be willing to learn and have the patience and perseverance to move forward, as there could be some bumps along the way.  All you need to do is choose your area of expertise or a market niche that you are most familiar with or passionate about. That will make it a lot easier and things will come naturally for you.

The opportunities are endless and there are so many resources available that you can leverage.  One model that has worked for me has been affiliate marketing.

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4 Comments

  1. As an educator, online schooling will definitely be on the rise due to this global pandemic we are currently experiencing. Schools have shut down for the school year and online distance learning has become the norm. I can definitely see online tutoring generating a lot of income as parents are not equipped to teach or tutor their own school-aged kids.

    I’m interested in affiliate marketing so I’ve been doing my research on the topic. It sounds simple on the process of how to make money through it but choosing the right affiliate program that complements my niche is where I’m getting stuck. Any recommendations?

    1. Hi Dana,

      Thank you for your comments.  Online education is indeed perfect for an internet-based business.  It was already popular before but more so during times like now that we are constrained by the pandemic.  

      It is great that you are interested in affiliate marketing and are on the right path by trying to land on a niche.  In this regard, you can ask yourself what subjects are you passionate about, who do you want to connect with, which country would you like to focus on, etc.  You can then research the likely potential of those areas to help you define the niche you would like to focus on as a start.  You can always expand and diversify later.

  2. edahnewton1 says:

    Hey nice article you have there, your thoughts are indeed invaluable. Since the outbreak of COVID 19, I have been thinking of a business to engage in to earn a passive income. Having gone through the various lucrative business ideas that were shared in this article, I am convinced that Affiliate marketing will be a perfect choice for me to engage into since I already have a functioning web site.

    1. Hi Edah,

      Thank you for your comments.  Affiliate marketing indeed seems to be a natural choice for you as you already have a functioning website.  All the best in your endeavor.  Should there be anything I can help with, please let me know.

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