If you’re looking to make some extra cash, there are plenty of ways to do so online. However, not all online money-making opportunities are created equal. Some are better than others, and it’s important to do some research before diving in.
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The Types Of Online Opportunities
As you might imagine, the world of online opportunities is incredibly vast. You have a whole host of choices when it comes to how and where you’ll make your money. Let’s examine a few of the more prevalent ones.
1. Products And Services For Sale
One of the most common ways to make money online is to sell and promote products and services. You could create a product that people want and are willing to pay for. You can then take advantage of the demand and sell those products online. Just make sure that you’ve got a good supply of that product before you start selling it.
This strategy can be rather lucrative, but there are several key points that you need to keep in mind.
a. Find A Product That People Will Pay For
You really need to find a product that people want and are willing to pay for. If you can’t find any products that fit this bill, you might end up having to create one. Don’t expect that making money online will be easy, you’ll have to put in the effort to find a profitable product.
b. Get A Sign Up Bonus
When you initially join a new paid service, you’ll usually be offered a sign up bonus. This is something special that the company wants to offer you at the point of your registration. Typically these bonuses come in the form of discounts or other types of freebies. Don’t forget about these bonuses, they can really add up.
c. Avoid Getting Scammed
Always beware of scams when making money online. There are plenty of people out there who will try to trick you into giving away your personal information or money. Avoid these people at all costs and be sure to read reviews and watch out for warning signs.
2. Freelancing
Another popular way to make money online is through various forms of freelancing. You can take online surveys, do some data entry, or become a virtual assistant. There are plenty of opportunities out there, all you need to do is find one that fits your skillset and has the potential to bring in the cash.
a. Take Online Surveys
Taking online surveys is a great way to make some passive income online. All you need is a computer or mobile device and you can take surveys from all over the world. Some of the more popular survey websites include Survey Junkie, Swagbucks, OneOpinion, Ipsos iSay and Ipsos iSay Teen.
It’s important to keep in mind that these aren’t high-paying jobs by any means, but they can still help you put money aside for other expenses. Remember to use the information you learn from these surveys to improve your quality of life.
b. Start A Blog
Blogs are a great way to make money online. Just remember that it takes a lot of effort to get things going and have people actually start to read your blog. The good news is that once you do have readers, the money starts to come in. You can write about anything that you choose, but make sure that you have a sizable amount of content that is unique and interesting. If you can prove to the world that you’re a skilled writer and you can bring in some unique content, then you’ve got a great chance at making some money online.
c. Start An Online Store
If you’re feeling particularly creative, you can start up an online store that sells clothing, bags, etc. For this you’ll need a shopping cart service such as Shopify, eBay, or Bigcommerce. Once you’ve got your store up and running, you can promote it online and take advantage of people who are interested in buying your goods. You’ll need to ship the items yourself though, as most shopping cart services won’t deliver goods to your house. If you’ve got a garage or storage space, you can set up a small shipping station where you can pack and ship all your goods yourself. This way you’ll be able to save money on shipping and you won’t have to worry about finding a shipping company that offers residential service.
d. Start An Affiliate Marketing Program
This is one of the oldest and most popular ways to make money online. Basically, you’ll be working for someone else but you’ll get paid when people click a link or purchase a product that you’ve pointed them to. You don’t need a big audience to get started with affiliate marketing; you’ll simply need to find a few highly targeted outlets for your content.
You should take the time to learn how to do this correctly. There are plenty of high-profile affiliate marketing companies such as Amazon, BizEaze, and New Relic that can help get you started. Once you’ve got your affiliate marketing program up and running, you can take advantage of products that are aligned with your blog content. For example, if you’re writing about buying clothes or shoes, you can promote various brands that produce these items. Just keep in mind that you’ll need to keep track of how many people click on your links versus how many purchases you make as an affiliate. You’ll also need to be consistent about posting new content and building a community. With a little bit of effort, you can easily make money online.
e. Start An E-commerce Store
If you’ve got a decent amount of money to invest, you can start an e-commerce store. With this you’ll sell your own products or those of other companies through a website. You’ll then need to set up your store so that people can easily browse your products and make purchases. You can use online marketplaces such as Shopify or Bigcommerce to set up your store.
You’ll then need to market your store and get some traffic. In order to do this, you can write blog posts, cross-post on social media, and do guest appearances and speaking engagements. You can also use various marketing vehicles such as infographics, videos, and social media ads to get the word out about your store. Having a decent amount of money to invest is important in this case, as you’ll need to make sure that you’ve got the technology in place to handle the increased activity.
f. Start A YouTube Channel
YouTube creators can make a lot of money, and it doesn’t necessarily require a lot of expertise. In fact, anyone can get started with a channel and upload their own videos about anything. You then use the money you earn to fund your lifestyle. Some YouTube creators make thousands of dollars per month. It all depends on the amount of views you get and the type of content you upload.
g. Start A Podcast
If you’re a seasoned podcaster, you can use your expertise to make money online. You can produce and release podcasts on a weekly, bi-weekly, or even quarterly basis. You’re then free to promote your podcast anywhere and anytime you’d like. Just make sure that you register your podcast with the various platforms — including Apple Podcasts — so that you can take advantage of all the available distribution channels.
Podcasts are essentially live streams that you can record and send out to interested parties. Because they’re usually recorded and focused on a single topic, they’re rather easy to produce. As a podcaster, you’ll need to decide what type of content you’ll produce and how often you’ll release new material. As with all content-based ventures, you’ll need to have a sizable audience before you can really begin to make money. Additionally, you’ll need to have decent equipment and software to produce a professional-looking podcast.
h. Do Some Data Entry
There are plenty of data entry jobs available online that you can take advantage of. Simply take a peek at the job opportunities available on reputable websites such as Upwork and Fiverr. Once you’ve got your application in, you’ll need to set a price for your services and wait for clients to come knocking. You can make decent money doing data entry if you keep your rates low enough (<10 per hour) and don't take on too much work.