Over the past decade, the number of people using the internet has grown from 2B in 2010 to 4.6B in 2020, which is equivalent to 60% of the world’s population! This digital revolution has resulted in a massive transformation from traditional to digital business models and the way that companies choose to operate.
The recent global events caused by COVID19, have accelerated this transformation, and more so now than ever before, people are turning to online business models to generate income rather than relying on traditional business models. There is now a huge demand for people who can sell their products and services online.
Digital marketers and small businesses are now able to easily reach and influence a global audience of customers directly, fast and economically, no matter the size or location of the business by leveraging the power of the internet. With a low start-up cost, almost anybody that can read and write can have access and a presence on the Internet. The comparatively low cost and low-risk factor of an online business, compared to traditional brick & mortar business models make it an attractive option for start-ups.
There has never been a better opportunity to make money online.
Here are 9 ways to make money online:
1. Online Consulting or Coaching
If you have a specific skill, then becoming a consultant or coach is a great way to generate income online. This could be anything from offering legal advice to life coaching or assisting startups on how to get off the ground.
Consulting or coaching is easy and affordable to start since you already have the knowledge and experience. You can advertise your services on a platform like Upwork.com and schedule your meetings and appointments using Oncehub.com to suit your calendar.
Another great way to get started online relatively quickly is becoming a freelancer. This could be anything from content writing to graphic design, logo design, website design, and copywriting, to offering architectural drafting services. It just depends on your interests and talents. The key to becoming a successful freelancer is finding your niche, networking with people who may hire you, and delivering high-quality services all the time.
Use a platform like Upwork.com to get your services listed online.
3. Sell your stuff Online
One of the easiest ways you can make money on the side is by selling the stuff that you no longer need. Getting rid of clutter, not only helps to clear your mind and home but it can provide some quick cash. Use platforms like eBay.com to sell your stuff online.
You can also offer to sell friends or families unwanted stuff online in exchange for a small commission.
4. E-Commerce – Dropshipping and Print on Demand
With Dropshipping, you sell products for a manufacturer by listing them on a fulfillment and distribution site like Shopify.com or eBay.com.
You use an App such as Oberlo.com to browse and find the products in your niche from a site called AliExpress. Then you use Oberlo to import those products to your Shopify or eBay online shop with just a few clicks. Once people buy the products from your online shop, you then inform AliExpress via the Oberlo App, who will deliver the product to your customers where ever they are in the world.
You get a percentage of the sale.
You don’t need to keep stock of the physical product and Shopify does the fulfillment (delivery) for you. The startup costs are relatively low, because you don’t own or keep physical stock. Still, your advertising costs can be relatively high, because you focus on front-end marketing and driving traffic from Facebook, Google Ad’s or similar to your digital storefront on Shopify. So you also need to be a proficient digital marketer.
With Print on Demand on the other hand, you sell your own custom designs using a platform like Printify.com onto various types of blank products such as blank t-shirts, hoodies or mugs. Printify will then create a digital copy of your artwork on that T-shirt or product and then you can place it onto your digital storefront.
When a customer comes and buys that T shirt from you, Printify will charge you the base cost of T the shirt (approx. $7-9) and the shipping charge (approx. $4) and you make the difference. One of Printify’s partner companies will then print that T-Shirt and ship it to your customer for you.
Watch this video that compares the pros’s and con’s of the 2 types of business models.
5. E-Commerce – Amazon FBA
With Amazon FBA you source and buy your physical products from China or elsewhere and then ship them to Amazon’s warehouse for storage and fulfillment. Amazon lists your product and then sells and delivers them to Amazon buyers. Because you need to buy and own the stock, your startup capital is higher than with drop shipping but typically your profit will also be higher as you buy in bulk at wholesale prices. The biggest advantage with Amazon is that you are leveraging its huge customer base of more than 200M customers/month! So your focus is less on front end marketing and more on sourcing products to sell online.
6. Affiliate Marketing
Affiliate marketing is another quick and easy way to get up and running. You advertise and promote other company’s products and services in exchange for a commission. Your focus is on front end advertising using Google Ad’s, or Facebook paid advertising strategies and not on fulfillment. There are thousands of online companies that run affiliate programs and commission can vary between 3-10% for low-cost products or services and up to 25% or even 50% for high ticket commission items. Affiliate marketing can be a very lucrative and sustainable source of income, especially for companies that offer monthly subscription affiliate commissions. It’s easy to find a company or product that is aligned with your particular field of interest.
For example, if you are interested in photography, there are many video and camera gear companies that offer affiliate programs, such as DJI.com, where you promote their products and brand in exchange for a commission.
The SFM offers an amazing affiliate and e-commerce education program that teaches people how to generate money online using E_Commerce and Affiliate Marketing. They also teach people how to start a digital business from scratch.Learn More
7. Remote Learning and Teaching online
The global lockdown during the COVID19 pandemic which impacted school kids around the world has shown that remote learning and teaching online can work well. Everything from online schooling or teaching English to foreigners to teaching piano and drumming lessons online is now possible and a very effective way to earn an income. You can reach a much larger audience of people and with online teaching, it isn’t even necessary to be based in the same city or country!
8. Handmade Arts & Crafts
If you’re a creative person who has the talent to design and make homemade furniture, clothing, or jewelry then opening your online shop on Etsy.com could be a great way to earn an income online.
9. Photography and Photography courses
If you have a talent for photography, this can be an awesome way to generate income online. Focus on a specific area, like fashion, landscape, or weddings, and list your services on a platform like Upwork.com.
You can also take stock photography and become a contributor to sites such as AdobeStock.com, Alamy.com, or Shutterstock.com and get paid up to $120/image.
Another way to generate income online is to create and sell your online photography course. As a photographer, you possess a unique skill set that many people would love to learn and be willing to pay for.
Create and list your course on a platform like Teachable.com.
10. Special Bonus Way to make Money Online. – “Print on Demand“
7 thoughts on “How to make money online – 9 ways”
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Hi Percy, please fill out a contact form on my website, contact page. thanks Ruan!
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