How to Make Money Online:
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. With success stories about how an entrepreneur made $6,667 in eight weeks or how a store owner made six figures selling just one product, there’s plenty of proof that dropshipping is a real way to make money online.
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In case you don’t know what dropshipping is: 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. With Oberlo dropshipping, you have access to millions of products that you can add to your store. Oberlo’s toolkit also allows you to hand-pick your product images, edit item descriptions, and give your business a personalized vibe, so people love shopping from you.
The best way to make money online dropshipping? Most entrepreneurs have been focusing on a few marketing strategies: running Facebook ads, having influencers promote your products, and sending Direct Messages (DMs) to potential customers on social media.
P.s. if you want to build your first dropshipping store, don't miss out on our Dropshipping 101 course.
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 US, Canada or Europe like Printify or Printful to get started right away and reach your dream of creating your own clothing line.The best way to make money with your print on demand business? Free marketing channels. Your best bet would be to promote your products for free on Instagram, Pinterest, or with Instagram influencers who convert their audiences well.
You can get a complete overview of print of demand vs dropshipping by watching us get into a healthy debate with Wholesale Ted about the pros and cons of each business model.
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.
Affiliate marketing allows you to earn a living by promoting other brands. If you’re a savvy marketer, you can earn a commission from sales by promoting retail products, software, apps, and more. While earning a commission may seem small, keep in mind that you can be an affiliate for several brands and include several affiliate links on a single blog post.
If you really want to make money online doing affiliate marketing, your best bet is to focus on content marketing. By building out a blog with several pages of high-quality content, you essentially create an asset you can call your own. The best part about focusing on content marketing is that if an affiliate program shuts down, you can switch the affiliate link to a competitor without negatively impacting your side hustle income.
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.
Your YouTube channel should focus on a single niche so you can build a strong, loyal audience. For example, you can create makeup tutorials, stream video games, review products, teach skills, create prank videos, or anything else you think there’d be an audience for.
The secret to making money on YouTube is to create content people want that either educates or entertains. You can use a headline that’s witty to entice people to watch, or you can use keywords that are optimized for YouTube search. Once you’ve reached the 1,000 subscriber milestone, you can officially monetize your channel with YouTube ads.
5. Become an Influencer
Building a personal brand can also help you make money online. Did you know in 2019, Cristiano Ronaldo earned $975,000 for every sponsored Instagram post, making him the highest-paid influencer? While it may seem like reality stars, singers, and athletes are the biggest influencers, keep in mind that even smaller-scale influencers can make more money today than they did a few years back
To become an influencer, you need to build a healthy following. The easiest platforms to do that: YouTube and Instagram. Some of the biggest non-celebrity influencers often gained their first taste of exposure on these platforms. You might want to check out how to get more Instagram followers if you want to build a big Instagram audience.
To make money as an influencer, you can charge for sponsored posts, speaking gigs, create your own online store and sell products, add affiliate links in your bio, sell your photos, sell ads on your own podcast, get paid as a brand ambassador, create a book, get paid to appear at events, and more.
6. 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.
To create a popular and successful course, your best bet is to watch other courses on your topic. Then, look at the reviews. What are the aspects that people praise, and what are the things people hate? How can you create something better than what’s already been created? Focus on creating content that solves the biggest complaints while emulating the positive aspects people rave about.
The platform you sell your course on will determine how to best make money. If you sell your course on Udemy, you don’t have to do much to promote it. You can almost set it and forget it. Maybe promote it to some blogs or on your own website. However, if the course is hosted on your own website, you might want to run ads to promote the course. You can also build an email list so you can continue to promote future courses to that same audience