Over the past decade, the number of people using the internet has grown from 2B in 2010 to 4.6B in 2020, which is equivalent to 60% of the world’s population! This digital revolution has resulted in a massive transformation from traditional to digital business models and the way that companies choose to operate.
The recent global events caused by PANDEMICS have accelerated this transformation, and more so now than ever before, people are turning to online business models to generate income rather than relying on traditional business models. There is now a huge demand for people who can sell their products and services online.
Digital marketers and small businesses are now able to easily reach and influence a global audience of customers directly, fast, and economically, no matter the size or location of the business by leveraging the power of the internet.
With a low start-up cost, almost anybody that can read and write can have access and a presence on the Internet. The comparatively low cost and low-risk factor of an online business, compared to traditional brick & mortar business models make it an attractive option for start-ups.
“It´s never been easier to make money online.” – by Robert Kiyosaki, an American businessman, and author.
Here are 9 Steps To Make Money Online:
1. Online Consulting/Coaching
If you have a specific skill, then becoming a consultant or coach is a great way to generate income online. This could be anything from offering legal advice to life coaching or assisting startups on how to get off the ground.
Consulting or coaching is easy and affordable to start since you already have the knowledge and experience. You can advertise your services on a platform like Upwork.com and schedule your meetings and appointments using Oncehub.com or Calendly to suit your calendar.
2. Affiliate Marketing
Affiliate marketing is another relatively quick and easy way to get up and running. You advertise and promote other company’s products and services in exchange for a commission.
Your focus is on front-end advertising using Google Ads, or Facebook paid advertising strategies and not on fulfillment. There are thousands of online companies that run affiliate programs and commission can vary between 3-10% for low-cost products or services and up to 25% or even 50% for high ticket commission items.
Affiliate marketing can be a very lucrative and sustainable source of income, especially for companies that offer monthly subscription affiliate commissions. It’s easy to find a company or product that is aligned with your particular field of interest.
For example, if you are interested in photography, there are many video and camera gear companies that offer affiliate programs, such as Canvas Pop Affiliate Program, which allows photographers to immortalize their images by committing them to the canvas.
The SFM offers an amazing affiliate education program that teaches people the art of selling online as well as how to start a digital business from scratch.
3. E-Commerce – Dropshipping
With drop shipping, you sell products for a manufacturer by listing them on a fulfillment and distribution site like Shopify.com or eBay.com. Once the product has been sold, Shopify delivers the product from their warehouse to your customer.
You get a percentage of the sale. You don’t need to keep stock of the physical product and the fulfillment is done by Shopify. The startup costs are relatively low, because you don’t own or keep physical stock, but your advertising costs can be quite high.
Because you focus on front-end marketing and driving traffic from Facebook, Google Ad’s or similar to your digital storefront on Shopify, you need to be a proficient digital marketer.
4. E-Commerce – Amazon FBA
With Amazon FBA you source and buy your physical products from China or elsewhere and then ship them to Amazon’s warehouse for storage and fulfillment. Amazon lists your product and then sells and delivers them to Amazon buyers.
Because you need to buy and own the stock, your startup capital is higher than with drop shipping but typically your profit will also be higher as you buy in bulk at wholesale prices. The biggest advantage with Amazon is that you are leveraging its huge customer base of more than 200M customers/month! So your focus is less on front-end marketing and more on sourcing products to sell online.
5. Sell Your Physical Products Online
One of the easiest ways you can make money on the side is by selling the stuff that you no longer need. Getting rid of clutter, not only helps to clear your mind and home but it can provide some quick cash. Use platforms like eBay.com to sell your stuff online.
You can also offer to sell friends’ or families’ unwanted stuff online in exchange for a small commission.
Another way to make money online is by hosting an online podcast. You can download an application on your smartphone or iPad named Spotify.
The key to getting ahead with podcasting is finding your niche, growing an audience, and then finding ways to monetize and connect with sponsors. This isn’t the easiest way to make money online since there are a lot of logistics that go into writing, recording, and editing a podcast, but it is still worth considering.
7. E-Book Sales
If you think you could write a book people would want to buy, this is a smart strategy to consider since the start-up costs can be minimal and you probably already have a computer and word processing software anyway.
YouTube is another platform that has made it possible for people to earn money online. There are a ton of YouTube channels out there on any topic if you can think of, and most of the people with a big following are earning some money in exchange for their videos and time.
Marine officer turned men’s fashion expert, Antonio Centeno has built a million-dollar business from his YouTube channel.
However, you can start making money via YouTube using the platform’s own ad network or by getting sponsored posts. If you like doing videos, starting a YouTube channel can become a fun way to earn some cash on the side.
9. Teaching online
The global lockdown during the COVID-19 pandemic has impacted traditional schools around the world. It has shown that remote teaching and learning on the Internet can work well.
Everything is possible online now. Nowadays you can reach a much larger audience of people, and using online teaching, you can work from anywhere – which means it isn´t even necessary to be based in the same city or country.
You just need an Internet connection and a laptop.
Use the Internet and start earning money in today´s online world.
There is an abundance of ways to make money online and the ones I´ve shared here are just some of them. If you want to earn money online to replace your ordinary job in 2020, you should invest time even while you´re working an ordinary job.
If you have a burning desire and at least some creative skill, you may be able to generate multiple income streams – if you give enough time.
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Dedicated to your new digital lifestyle,
*Disclaimer: The links are affiliate links, it is part of my online business.
P.S. Don´t forget to reserve your Free Seat with my mentor Stuart for more information. This is totally FREE!
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