When people think of making money online, the picture that comes to mind is one of working with a laptop on the beach, taking the dog for a walk, while thousands of dollars pour into their checking account. The flexibility and sometimes passive income that working online creating content or engaging in some other venture such as an e-commerce website makes making money an absolute dream. All you need is a high-speed internet connection and a desire to earn extra cash on the side.
However, while a lot of people have the dream, getting started always seems like such a complicated endeavor that not many people ever get started. But trust me, it does not have to be complicated as I have been doing it successfully for more than 10 years.
In that time, I have come to know that making money online is not only about a blog or drop shipping from China. I have made friends with tons of people who earn money online in all manner of ways. From Social Media to affiliate marketing to YouTube content creators or even selling domain names, there are literally hundreds of ways to make extra money on your spare time in the Internet.
Here is the crazy thing, most of the techniques I have seen are not that complex though just like anything, there is a learning curve. If you want to earn money you need to be committed and stick to whatever you have chosen to do and have faith that it will work. If you are looking for some great strategies to make your first dollar online and are frustrated with the many choices, here are some of the most effective strategies that you can implement today:
Tons of websites use Google AdSense, and I am sure you have seen some of these ads on sites you have visited. AdSense is one of the easiest ways to monetize a website, and most people who are just starting out start earning with AdSense.
AdSense is one of the easiest ways to make money online since it is straightforward to set up, and you can start to earn money as soon as you set up your blog. All you need to do is write some high-quality content in a given niche and then apply for approval into the AdSense program. Once you are approved, you will be given a unique code that you will insert into your website to shows ads. Once you have set it up, you will earn money for clicks or views that the ads get.
However, the thing with AdSense is that it takes a while before you can make some good money from AdSense. The more visitors you have, the more money you can make, which means that in the first days you will be making pennies. However, it can be very lucrative if you keep at it and start getting significant amounts of traffic to your website.
The best thing about Google AdSense is that you can increase your income almost indefinitely. As long as you keep blogging and increasing the number of pages on the website, you will increase the clicks and views on your ads, which will increase your income month on month. I have known people that have gone from zero to $5000 extra money a month just by consistently blogging and increasing their traffic.
Affiliate marketing is one of the most lucrative ways to monetize a website or blog. Affiliate marketing involves partnering up with businesses and brands in the niche or space where you are blogging to market their products or services. For instance, if you are a relationship blogger, you can promote dating websites or dating product creators.
As an affiliate, you get a commission every time someone buys the services or products of your affiliate partner. The affiliate program will usually give you a code and then track all purchases made from that code. The commissions can be quite lucrative with up to 40% of revenue provided to affiliates in some niches such as health or relationships.
One of the most effective ways that have worked really well for me is working for different affiliate programs. You can sign up for affiliate programs such as ShareASale, CJ Affiliate, or Clickbank. This makes it easy to test out different products and services so that you can promote what makes the most revenue for you.
One of the best marketers that have been killing it with affiliate marketing is Pat Flynn of Smart Passive Income. While he has stopped publishing his income reports, Pat used to earn more than $100,000 a month from affiliate marketing in 2018. Pat’s blog posts promote everything from email marketing software to hosting and courses on his website. In December 2018, he made $36,956.18 promoting email marketing software Convert kit and $27,650.00 promoting hosting company Bluehost.
Real Estate Crowdfunding
Real estate has been touted as one of the most stable and profitable investments. This is because the land is a scarce resource whose demand will always be on the rise. However, getting into real estate is out of reach of most people given the enormous sums needed to buy real estate.
But did you know that you can make money online investing in real estate? Crowdfunded Real estate investments, known as Real Estate Investment Trust or REITs are some of the easiest ways to get into real estate without having to put down a lot of money that you may not have. You can get into REITs for as little as $500 and be earning passive income every month.
With crowdfunded real estate projects, you will come together with other investors to invest in a REIT. The money collected from the members can then be used to purchase properties from which you can be getting a lease and rental payments every month according to how much you contributed.
The best thing about REIT real estate investment is that you never have to manage the properties. The company will hire property management companies to do it on your behalf while you collect your rent money passively.
Did you know that consultants are some of the best-paid people in any industry? According to Glassdoor, Payscale, and Indeed, the average salary for a consultant is $75,000, which about $13,000 more than the average pay for a white collar professional in the US. And did you know that you too can be a consultant?
If you have experience and skill in any professional endeavor, you can teach others, which is basically what a consultant does. As a consultant, you can develop a step-by-step guide on anything from freelance writing, cryptocurrency marketing, or affiliate marketing and make a good living selling the course.
The good thing about courses is that you develop them once and you can sell them on online marketplaces over and over again. You can also add upgrades to the course content or offer one on one coaching at premium pricing to increase your income.
You can sell the course from your website or on online platforms such as Udemy or Teachable. Selling from your own website gives you more control over the product and pricing, and I have known people such as Chris Lee of Rank XL and Gael and Mark of Authority Hacker who has made seven figures selling courses from their sites, and so this is an excellent way to make money online.
However, you could still start selling on Udemy and then ramp it up when you have more money and an established following for your brand and website.
Peer-to-Peer Lending for Interest
Lending money to friends is sunshine and rainbows until they refuse to pay and destroy the friendship. But did you know that you can lend to other people on the Internet and get your money back plus interest? After all, lending to friends often does not involve interest. What better way to make extra cash than lending to strangers online.
The best thing about peer to peer lending is that the money you lend generates a lot of passive interest for money that you do not have an immediate need for. Peer to peer lending is similar to traditional lending though investors come together to crowdfund a person looking for a loan. With P2P lending, you reduce the risk of default by deciding on the risk level you can take on, the interest rate you want, and the type of project you want to invest in.
You can get up to 5% in interest payments a year if you have a lower risk tolerance and only go for the highly qualified borrowers. If you have a high-risk appetite, you could earn as much as 15% per year though you may get burned by the high-risk borrowers who may default.
1.Higher returns than your savings account or the stock market
2.Monthly payments from borrowers
3.Low investment amounts that allow almost anyone to join and lend
4. Massive variety of loans so that you can choose the best borrowers who are more likely to repay
Work as a Virtual Assistant
The gig economy has taken the Internet by storm, and about 36% of all American workers earn at least part of their income from virtual work. One of the best types of online work is that of a virtual assistant.
A virtual assistant is typically hired to perform basic tasks for busy professionals that cannot do it by themselves but do not want to hire someone permanently. Tasks that you may be asked to perform include data entry, answer emails and phone calls, manage social media accounts, and follow up with clients.
The best thing about being a virtual assistant is that you can do it as a side job in the evenings or during the weekend. You also get to pick your clients, tasks, and rates so that you can work on what you like and make as much money as you can.
Virtual assistant work can be found on sites such as Upwork where you can register an account and bid on jobs. If you have a good enough grasp of essential tools such as MS Excel, Word, email, you can get virtual assistant jobs on Upwork. For persons with skills in sales and marketing, you can be hired to make follow up calls or to manage social media accounts and promote the client’s products.
Test Websites for Usability
Website owners and designers may be biased on what works well on a website. What they think works very well might actually provide a terrible user experience. Bad user experience not only results in fewer conversions but could also destroy a website’s ranking as users get frustrated and bounce off the site. This makes user testing by an independent user vital for many website owners.
There are several websites where you can register to become a website tester. All you need to do is use the website and then provide feedback on what you like or hate about the site and what could be improved. This is one of the easiest ways to get started making money as all you need to start is a microphone and laptop.
Some websites where you can register to become a website tester include UserTesting, and WhatUsersDo. These pay between $8 and $10.50 per site tested, which could take you between 15 to 20 minutes. If you do 10 to 15 tests a day, you could earn some good side income.
Freelance writing is one of the most straightforward jobs to get into if you want to make some money online. If you have always been creative and have above average writing skills, you could get hired to write for blogs, magazines, and for organizations that need content.
There are many success stories out there, such as Danny Marguiles of Freelance. He made over $100,000 a year as a freelance writer on Upwork for about a year. Given his wild success, he has also made course training people how to make money on Upwork and make good money from the courses too.
Working on sites such as Upwork is not the only way to make money freelance writing. Freelance writers such as Jorden Roper of Creative Revolt who makes more than $100,000 a year freelance writing for websites recommends setting up a website to market your services. With a website, you can choose your niche and then pitch your services to clients and negotiate your prices.
The thing with freelance writing is that the best writers, such as those that work on Upwork or those that have their own websites recommend increasing your prices over time. This means you can make a lot of money even as you get to choose the topics you want to write, your rates and the clients you want to work with.
YouTube is the second largest search engine after Google, which means that there is a lot of money to be made on the website with simple videos. Similar to starting a website, you can create a YouTube channel and fill it with niche related videos on almost anything from cooking to politics to affiliate marketing.
Similar to AdSense, Google will place related video ads on your videos content, and you will usually get paid for views or clicks on those ads. The good thing with YouTube is that you can create content and earn a lot of money even if you are not an expert. For instance, one of the most prominent YouTubers is Pewdiepie, who makes more than $1 million a month being a comedic commentator on games.
According to a Forbes study in 2018, the most significant content creators on the platform made 127 million between 2016 and 2017, which just goes on to show the massive potential of YouTube. While AdSense does not make as much on YouTube, if you do not have a huge following, it can set you up while you ramp up your content and following.
You could also get businesses to advertise on your channel, which is fast becoming a favorite way of monetization apart from AdSense. For instance, if you have a channel on history, you could promote Netflix programs on history and encourage people to sign up and earn a commission for each sale.
There are many ways to make money online that you could try out. However, the ones I have listed in this article are some of the most effective and most comfortable to start. Nonetheless, if you are dedicated, you can make almost any online endeavor make money for you.
Whether you are a creative who likes to do freelance writing or designing logos or are more inclined to tasks that require elbow grease such as working as a virtual assistant or website tester, you can still be successful if you put in the work.
Pick one of these and give it your all, and you may just be the next success story that is featured in our future blogs.