How to Make Money Online as a Teenager

If you’re a teenager trying to figure out how to make money online, where should you start? Is it best to try and build a brand for yourself and then monetize it later? How about making money off of affiliate marketing? What about taking on a side gig to try and make ends meet? There are plenty of ways to make money online as a teenager, but you’ll have to decide for yourself what’s the best approach to take. In this article, we will discuss five ways to make money online as a teenager in 2020. Before you begin your journey to financial independence, make sure you read our disclaimer at the end of this article.

1. Use your smartphone to make money

The world of online entrepreneurship is growing rapidly. In fact, according to a 2019 study from Envisional, a global company that designs and builds software for businesses, about 56% of American online shoppers are considered digital nomads. These people shop for products and services online, which makes them perfect targets for businesses that want to reach this audience.

The trend toward digital nomadism is also being seen around the world. In 2019, nearly 27 million UK residents used digital nomads to shop online, and this figure is projected to hit nearly 33 million by next year. That’s nearly one-third of the population. So if you’re a digital native, it’s likely that you have spent a lot of time exploring the world of online retail and learned a lot about its various nuances.

One avenue to explore for potential side gigs is the world of online retail marketplaces. These are websites that offer various products and/or services for sale, typically by a single merchant (or a group of merchants acting together).

The most popular examples of online marketplaces are eBay, Amazon, and Etsy. Each of these platforms is incredibly popular, and that means there are plenty of opportunities to make money online from selling and negotiating sales on these platforms. If you’re already receiving regular pocket money, consider using it to boost your teen earnings. You could register with a brand-name retail marketplace and work toward achieving a certain level of seniority before moving up to a more senior position.

2. Start an online store

If you’re looking to make money online as a business, the first thing you’ll need to do is to pick a niche. According to the 2019 edition of the American Businesses Best Employers for Teens, the most in-demand occupations for teens in the United States are digital nomads, software developers, and copywriters. So if you can become one of the most in-demand workers in your field, you’ll have a leg up on the competition.

To put it mildly, starting an online business is not as easy as it seems. According to the U.S. Small Business Administration (SBA), as of March 23, 2020, there were 1.69 million active registered online businesses in the U.S., and that figure is projected to reach 2.25 million by October 1, 2020. To get started, you’ll need a domain name for your website (something.com), build a small web presence (YourName.com), set up Google Adsense, and make money online with affiliate marketing.

There are plenty of pros and cons to starting an online storefront. One of the biggest benefits is the ability to scale your business virtually anywhere you want. You don’t have to worry about physical location, so you’re free to set up shop in the Bahamas or even the underground. Plus, you can work remotely, which can be extremely convenient if you’re already experiencing family and social distance issues due to the pandemic.

3. Start an online tutoring business

If you’re an excellent tutor and can teach others how to achieve excellence, consider starting an online tutoring business. You’ll need to set up your own curriculum and find students to teach. According to the U.S. Small Business Administration (SBA), as of March 23, 2020, there were 855,000 active registered online tutoring businesses in the U.S., and that figure is projected to reach 1.2 million by October 1, 2020. Just be sure to register your online tutoring business with the SBA so you can get access to the many educational opportunities available through the U.S. government.

4. Start an online coaching business

Did you ever wonder why some people are so good at convincing others to buy their products or services? It’s their expertise. If you’re an expert in a field and can help others accomplish their goals, consider starting an online coaching business. You’ll need to set up your own coaching program and find clients to work with. According to the U.S. Small Business Administration (SBA), as of March 23, 2020, there were 1.35 million active registered online coaching businesses in the U.S., and that figure is projected to reach 1.75 million by October 1, 2020. To get started, you’ll need a domain name for your website (coach.com), register with a freelance coaching agency, set up a Google Adsense account, and then start building your coaching website.

The major pros and cons to starting an online coaching business are similar to those for an online tutoring business. The biggest pro is the ability to scale your business virtually anywhere you want. The biggest con is that you’ll need to develop your own unique process for coaching and mentoring, which can be challenging (if not impossible) if you’re not coming from a coaching or mentoring background.

5. Start an online teaching business

Did you ever wonder why some people are so good at educating others? It’s their expertise. If you’re an excellent teacher and can teach others a specific topic, consider starting an online teaching business. You’ll need to set up your own curriculum, find students, and then plan classes and projects with your students. According to the U.S. Small Business Administration (SBA), as of March 23, 2020, there were 1.45 million active registered online teaching businesses in the U.S., and that figure is projected to reach 1.95 million by October 1, 2020. To get started, you’ll need a domain name for your website (teach.com), register with a freelance teaching agency, set up a Google Adsense account, and then start building your teaching website.

The major pros and cons to starting an online teaching business are similar to those for an online tutoring business. The biggest pro is the ability to scale your business virtually anywhere you want. The biggest con is that you’ll need to develop your own unique process for teaching and then find people who are willing to learn (and pay for your expertise).

How to Make Money Online As A Teenager in 2020

So you’re a teen and want to know how to make money online. Where do you start? One approach is to follow the path of a digital nomad and use your smartphone to navigate the world of online retail. While this may seem like a viable option, it’s not for the faint of heart. It requires a significant time investment and a lot of nerve (especially if you want to survive).

If you’re looking to explore the world of online entrepreneurship and seek out side gigs to help make ends meet, consider looking into starting an online tutoring business, online coaching business, or online teaching business. You’ll need to do some research into what’s required to get started and then, hopefully, you’ll find a profitable niche that can help you earn some extra cash.