1. Start Dropshipping
Let’s start our list off with one of the most popular ways to make money online. According to Google Trends, dropshipping’s popularity is rapidly growing, highlighting its viability as a way to make money online.
Basically, dropshipping is a business model where you sell a product to a customer, but the supplier stores, packages, and ships the product to your customers on your behalf.
2. Try Print on Demand
Print on demand is proving to be a popular option too. Graphic designers are turning to the business model to sell their designs on clothing and other products to monetize their art better. With their unique designs, they can create a consistent and established brand for their business.
Print on demand is similar to dropshipping in the sense that you don’t need to carry inventory or ship out products to customers yourself. There are two slight differences, though. First, you can add branded labels on packages, which is great for brand recognition. Second, shipping costs are quite expensive, making it difficult to create a sustainable business unless you charge higher prices or sell higher quantities. But you have great suppliers in the US, Canada, or Europe like Printify or Printful to get started right away and reach your dream of creating your own clothing line.
3. Make Money with Affiliate Marketing
Affiliate marketing is one of the most popular ways to make money online. Throughout the years, its popularity has gone up and down, but it continues to prove to be a stable way to make money online. The best part about affiliate marketing is that you can be an affiliate for nearly any company, from Shopify to Amazon to Uber to FabFitFun.
4. Start a YouTube Channel
If others can make money from YouTube, so can you. The highest-paid YouTuber is 7-year-old Ryan, who reviews toys on his YouTube channel, which made him $22 million in 2018. Another high earner is Jeffree Star, who’s made more than $18 million on YouTube and has a cosmetics brand that sells about $100 million in products annually. His YouTube (and Myspace) fame helped him use his influence to make money online beyond his YouTube earnings.
5. Create an Online Course
Sharing knowledge is one of the best ways to make money online. If you’re an expert on a subject, you can monetize your knowledge by creating courses online. You can sell your course on Udemy or, if you already have your own audience, on your own website. Some entrepreneurs earn as much as $5,000 per month with online courses.
6. Publish an Ebook
With Amazon KDP, it’s never been easier to publish an ebook. All you need to do is write the ebook, format it, create an ebook cover, publish, and promote it. You can choose to hire a writer for your ebook, a graphic designer to design the cover, or a freelancer to format the ebook for you to help minimize the work you need to put into it. It’s best if you focus on keywords based on popular searches on Amazon. I often use the Keyword Tool, which allows you to find the words people use while searching so you can craft your title around it.
To make money online selling ebooks, you can market it in a number of ways. You can give away your ebook for free for a few days. This helps you rank high in search results for some time and get some reviews, which helps you rank better for paid listings.
7. Start a Blog
Blogging is one of the oldest methods for making money online. People who love writing tend to start blogs with a niche focus. For example, a blog about procrastination, cars, dropshipping, toys, etc., is often a narrow enough focus so you can build a loyal following, but big enough that you can cover a lot of ground.
You can start a blog on various platforms, from Shopify (remove the checkout feature, so you don’t have to pay a subscription as you build it out) to WordPress. When you start your blog, focus on very specific keywords with a tight focus and continue to expand into other but relevant categories as you grow and dominate new spaces. This will allow you to build a massive blog over time. Remember that design is also important for making a good first impression on visitors.
8. Become a Writer
With a growing interest in content marketing, more brands are looking for great writers to create content. The secret to succeeding as a writer is to be an expert in a niche. A lot of writers try to be generalists, writing for a wide range of categories, from food to tech. However, having a niche focus as a writer allows you to write better content.
When you have experience in the niche, you can add a different perspective to a piece of content. That means you’re not just saying the same thing as every other article online. And that’s what brands really want to pay for — your thoughts, experiences, and inside information into their niche.
9. Invest in Stocks
You can also make money fast by investing in stocks. If you aren’t an expert in picking stock, you might want to skip this money-making idea. While it can have one of the highest rewards, it can also result in money loss if you’re inexperienced. If you currently hold a 9 to 5 job, look into your company’s financial programs.
Do they allow you to invest in company stocks? If so, sign up for it. At least with a company stock program, you have some influence on the company’s success as an employee. If your company has an RRSP matching program, you can also sign up for that if your goal is to save up for retirement or a down payment on your first home.
Making money online can help you earn some extra side hustle money, but it can also help you escape your 9 to 5 job so you can become a full-time entrepreneur. By brainstorming online business ideas and choosing to start an online business, you gain more financial freedom, improve your financial security, and inch closer to living life on your terms.