Online money generation requires no introduction in this age of meteorically rising growth. No need to mention the perks of earning from home, it has saved many students and millennials from financial loss or bankruptcy.
Besides, it improves your resume and gives you a sense of discipline, financial stability and valuable experience. To embark on this journey or to improve your existing performance in your online work, you have to consider a few things.
The first and foremost thing is choosing your niche carefully. Either you must have sufficient background knowledge or you should have the aptitude to learn the required skill. Many online start-ups fail because they do not give considerable importance to this fact. Although, you will learn a lot on your way but you should know the ground rules to make decent first impressions.
Remember, there is too much competition out there and if you act anything but serious, you will not be able to progress. So, in order to flourish, you need to establish a good professional repute. Work in your PJs but act like a business person in your communication whether they are verbal or written.
Additionally, be cautious in your financial dealings. There are so many fraudulent websites that claim to make you rich within a few weeks or trap you with some attractive trouble-free work that seems easy as a pie.
Be aware that real jobs will demand some real work and would be based on the principles to abide by. Also, make an online presence in famous social media channels and build useful connections there. This is going to prove very beneficial for your online career advancement.
Here are the key methods and practical tools to generate income from the online sources.
1. Sell your services and expertise
This is one of the most reliable method of online earning. It is going to be easier when you are an expert or are well-aware about your domain. However, you can still earn if you are an amateur. With focused knowledge and consistent practice, it’s not hard to earn a name.
Find out what you are good at. And if you are unable to decide, try in different areas and then choose a single best option for yourself. Be confident about your services and very clear about your goals.
You can select your niche based on the current scenarios. Those positions which are high in demand will turn out to be better with respect to making money. Let me elaborate it with an example;
In this post-COVID period, life coaches are very much in demand among masses to deal with emotional traumas, setbacks, or to reestablish life goals in the new normal. Luckily, there are no special requirements of education or skills for becoming a life coach. All you need is certain hours of practice and training to acquire certification for professional practice.
Likewise, if you are a fitness trainer, you should definitely offer your expertise online through various channels (discussed in the later section of this article). If you are a student or an academic person, you can offer online tutoring, write assignments, projects or various college tasks and get paid for it.
In short, anything you know you can do in a decent professional manner, you can generate money with it. For this, you will need to create a strong profile online on any online market of your choice and start working.
The second method to offer your services is to create a website for pitching your services to multiple companies and the target persons who want to avail them. E.g. if you are graphic designer, you can have a WordPress website where you can tell your clientele, who you are and what you are offering.
Also showcase some samples of your work on your pages and provide precise details of your work to attract the right buyers. Then, generate leads for your offered service by working as a guest blogger, or make tutorials or podcasts about your services.
2. Participate in online surveys
Many teenagers fill out online surveys to earn few bucks. Companies based on consumer research are constantly seeking reviews of their products or services (to launch new, or to better the existing ones). Thus they reward tip of few dollars to answer such surveys.
To mention the names, a few popular ones are; Branded Surveys, GlobalTestMarket, Onepoll, Pinecone, E-Poll Surveys, Prizerebel, LifePoints and Toluna. Similarly, some offer reward for playing games and watching videos, such as Swagbucks. Although it seems to be instantaneous method, it is not going to generate any good figure of money.
3. Email Marketing
Email marketing is exceedingly popular and effectual marketing strategy in this era. In this method, you send emails to your potential and existing customers about your business, services or anything to inform, educate or inspire, to nurture the lead.
On average, the order generation in result of email marketing is around three times higher than that of social media. You can use this digital marketing for your own products or you can market someone else’s for which you are paid in return.
The basic requirements are to build an email list, an email service provider (e.g. OptinMonster, Constant Contact, Drip or Sendinblue), and a deeply influencing content or description.
In addition, you have to offer an attractive freebie or giveaway in exchange of an email (also known as lead magnet) That could be a discount voucher, eBook, a coupon, white paper, free samples, or anything that appeals your target audience such as self-assessment test.
To target the right customers, you have to delist the dormant subscribers, optimize your timing and to avoid spam filters at best.
4. Freelancing on globally recognized sites
Freelancing is the finest way to yield your talent, interest or even leisurely pursuit. There are many popular freelancing websites that are offering ample opportunities in numerous niches. Fiverr is among the top freelancing sites where you can offer your services called gigs, to buyers from all around the world.
Likewise, Upwork, Freelancer, Truelancer, Toptal, TaskRabbit, Guru, Hireable, Nexxt, Skyword are some of the eminent freelance markets. These platforms help you make a solid start in your freelance career. They connect you to the people who value your talent and make your task comfortable and secure.
Almost all take some percentage of commission of your sales, e.g. Fiverr takes 20%, Truelancer 3-10%, while others charge a variable fee depending upon billing.
5. Offering products for sale
This is an old method of generating money online but has been modernized in the last few years. A number of channels are offering services for product sale. Selling on Amazon is a well renowned method where clientele from all over the globe participate.
In this method, you bulk purchase the products and ship them to Amazon warehouse for storing there. When your offer of sale is accepted, Amazon ships them out and pays you after deducting their percentage.
A great majority is making a substantial living from selling at Amazon, and this is a secure online earning method. You can even sale your old books, games or gadgets on Amazon, if they are in good condition.
However, few things especially that are of large size, do not ship very well. For this, Craigslist is a good online market place to go. Share good photographs of your products, and post your ad.
Similarly, you can sell your products on eBay store. For this, you have to find a drop shipping business like Doba that can store and ship the goods directly to your buyers so you do not have to deal with the inventory.
Likewise you can sale your new or used items on OLX or on Etsy if they belong to artistry or craft supplies. You can also sale photos or videos. Some well-paying channels for photographic stocks are: iStock Photo, SmugMug Pro, Shutterstock, Getty Images, Alamy and Stocksy.
6. Blogging and influencing
Blogging! We all are familiar with this acclaimed opportunity of creating businesses in an engaging, friendly manner. The most promising factor of blogging is interlinking, where you link your blog with any website you are advertising for (also called sponsored or paid posts) or any source that can improve your visibility and resultantly generate remuneration.
Alternatively, you can sign up with an external company such as Google AdSense, Infolinks, AppNexus or Media.net. The pay-off is however delayed and bringing fresh innovative content is a time consuming process.
Nevertheless, it creates a rapport with your customers and holds potential for generating exceptional results, both in terms of recognition and money. A lot of bloggers are generating astonishingly highly revenue as well as prominence in this world of digitalization.
Generally, you need a blogging platform (where you create your content to be published) such as WordPress, and a host (a secure place on the internet for your blog) e.g. Bluehost. After determining your target audience, you have to design a striking content that may be a blend of images, descriptions, texts plus added emotions and then you post it.
Be strategic in posting your content and keep an eye on the current trends and emerging concepts so that your blog appears up to date.
Alternatively if you are a celebrity, or are completely knowledgeable about the game rules and SEO strategies, or have a stellar content or theme, then you can start blogging absolutely free with social media channels like YouTube, Instagram, which can be monetized by multiple ways.
Regardless of what business you are in, a well-crafted blog can improve your marketability by 67%. In fact, blogs are considered the fifth most trusted source for acquisition of information online. On the other hand, you can write blogs for others, offer domains or manage blogs to grow your affluence.
7. Affiliate marketing
You can increase your cash inflow by marketing and promoting someone’s products. A number of affiliate marketing companies are well-known with variable commission rates. For example, eBay Partner Network offers commission of up to 70% of the auction fees while GoDaddy offers 40%.
Some other well-known networks are Amazon Associates, HostGator, CJ Affiliate, Avangate and FlexOffers. You market products of a company by adding a link on your page and when a customer buys it via your link, you earn a certain percentage of profit. This is quite an overlap of earning from a blog, only when your blog has a high traffic rate.
8. Online Corporate jobs
Online office jobs are an old-school yet hassle-free source of making a living. A high volume of remote jobs are offered worldwide, in about all walks of life.
Networks such as LinkedIn, Xing, Jobcase, Bark, or Opportunity post regular updates about current jobs along with all relevant details. Based on your choice, you can apply and start earning without the need of any initial investment.
In conclusion, making an income from the comfort of your home seems easy but has its own pros and cons. Though your earned income is directly proportional to the efforts you put, yet there are others factors involved in your success.
Whichever online work or job you choose, you have to be consistent in your efforts and be patient with the results. With strategic planning and learned practice, you can make substantial income in addition to enjoying the benefits of work-from-home.