In early 2018, the experts at Best Ways to Make Money Online predicted that the future of money-making online might be similar to the early days of the web itself. They said that the traditional way of thinking about marketing online and selling products might be replaced by the growing popularity of membership sites and online courses. And, as the experts predicted, the future looks bright for those who embrace the changing landscape.
Since then, the world of make money online has evolved even more, and today we’re going to highlight eleven ways you can earn a steady stream of passive income without needing a millionaire’s budget. Whether you’ve got a niche or know-how that can be monetized or you want to create a membership site for profit, these are the top eleven money-making methods to consider.
1. Create An Online Store
Although there are plenty of ways you can make money online without having an online store, creating one can be a profitable venture. With an online store, you can sell and ship whatever you want, whenever you want. There are no restrictions other than your own imagination. Plus, when you set up your store, you can use a tool like Shopify to make it truly passive. When a customer makes an online purchase, you simply collect the money and PayPal handles the rest. For a complete tutorial on how to create an online store, check out our in-depth guide below.
2. Start An Online Cafe
If you’re a creative person who loves to spend time with others, starting an online cafe is an excellent way to make money. With an online cafe, you can serve customers snacks, drinks, and sweet treats while they’re enjoying their time there. Better yet, you can create special promotions and deals for frequent patrons. To run an online cafe successfully, you’ll need a strong social media following. Once you’ve got that, the next step is to set up your website where you can display your offerings. When a potential customer lands on your site, you can serve them cookies that connect the dots from there to buying a cup of coffee or having a sleepover at your place.
3. Start An Online Lifestyle Blog
An online lifestyle blog can be a lucrative venture if you’re able to position yourself as an expert in your field. For example, if you’re a fashion guru, you may choose to develop a fashion blog. Naturally, you’ll want to feature the latest trends and styles as well as highlight exclusive offers and discounts for your readers. To succeed as a fashion blogger, you need to keep your audience intrigued and, hopefully, make them laugh as well. In addition to posting fashion-related content, you may choose to write short-stories, develop an email list, and eventually consider starting a monthly newsletter to keep your readers informed of all the latest news, offers, and events in your field.
4. Start An Amazon Store
The fourth way to make money online is to start an Amazon store. Amazon stores are similar to online cafes, in that they let sellers feature their wares, promote deals, and collect payments all from one platform. To get started, you simply need to create a storefront on Amazon. When a customer makes an online purchase from your Amazon store, you’ll earn a small commission that can be reinvested into further growing your business.
5. Start An Online Herb Shop
If you’re a herb enthusiast, establishing an herbal shop on the web can be a profitable endeavor. With an herbal shop, you can grow and sell your favourite herbs and other botanicals. To start, you simply need to sign up with a reputable herb vendor (like Nature’s Corner) and then select the type of shop you want to operate (i.e. wholesale or retail). Next, you’ll want to establish your online herb shop in a way that makes it easy for your customers to find what they’re looking for. To help with this, you can use Google Trends to track the popularity of certain herbs and other botanicals, or you can create an Instagram account to feature all your product shots.
6. Start A Yelp Store
Yelp is one of the most popular review websites online, enabling customers to find the best local businesses, companies, and brands. To create a successful Yelp store, you need to understand how important it is to develop a good review strategy. For example, you may want to consider creating a special discount for reviewers, or you may want to create perks for those who leave reviews. Either way, convincing reviewers to leave you a positive review can be a lucrative venture.
7. Start An Instagram Account
Instagram is the best-known social media network among non-sports enthusiasts. Like Twitter, Facebook, and most other big social media platforms, Instagram allows users to share their content publicly or privately. In other words, you can post to your profile or to a group of your followers, enabling them to see your content in their newsfeed. To create an Instagram account, you must first have a Facebook account. Once you’ve got that, all you need is a unique Instagram handle and a decent photo for your profile. After that, the sky is the limit as to the images, videos, and content you can post to increase your account’s popularity.
8. Start A YouTube Channel
YouTube is one of the most popular social media platforms among general audiences. Not only can you share your video content virtually anywhere, but you can also monetize it on the platform. This means you can earn money from your videos without having to run ads or lose money to affiliates. Of course, not all YouTube content is created equal, and you should consider establishing yourself as an expert in your field before you even think about producing a video. In other words, if you want to make money from YouTube, first you need to build a following.
9. Start A Podcast
If you’re passionate about a topic or have a lot to say on a certain subject, starting a podcast may be a viable option for you. Podcasts are interactive, meaning you can engage with your audience by asking them questions and getting them to participate on social media. Through a podcast, you can also speak directly to your audience, promoting your products and services as well as connecting with potential customers who may be interested in what you have to offer.
10. Start A Blog
Blogs are a versatile format, meaning you can use them to write about nearly anything. Naturally, you’ll want to choose your blog’s topic carefully since you’re essentially creating content with the sole purpose of drawing in the most traffic you can. Once you’ve got a sizable audience, you can monetize your blog through affiliate marketing, selling and promoting the products and services of others. Alternatively, you can create product reviews and tutorials that can be repurposed for monetary gain.
11. Start An Online Store (Again)
Since we already covered this method, we’ll save the best for last. Similar to the way an Amazon store functions, an online store, also known as an e-commerce store, is a storefront where customers can purchase products (including affiliate products) online. For an e-commerce store, you don’t need a special domain or server; you can use Shopify’s built-in e-commerce platform to get up and running in no time with a professional-looking store that can handle credit cards directly from your smartphone. With Shopify’s e-commerce platform, setting up a store is as simple as creating an account, choosing a theme, and then adding products from a wide range of reputable suppliers.
Hopefully, this article has helped you understand the various ways you can earn a steady stream of passive income without needing a wealthy uncle or aunt to trust you with a large sum of cash. In the near future, we’ll discuss how to further increase your earnings and how to make the most of the myriad opportunities presented by the coronavirus pandemic.