Nowadays, creating an online business is a popular strategy for making extra income. According to Statista, eCommerce sales alone are worth approximately $4.9 trillion in 2021 and are projected to grow by 50% over the next four years.
Starting an online business and making money online can be quite challenging if you don’t pick the right business idea. It might also be difficult to achieve long-term goals if you don’t have the necessary skills. Therefore, it’s crucial to find an online business idea that aligns with your interests and expertise.
This article will cover eight money-making ideas to help you learn how to make money online and build a successful online business. Let’s get started.
1. Create and Monetize a Blog
Having a blog and monetizing it is an excellent way of earning money online. By becoming a blogger, you can earn up to $50,000 per year, depending on your marketing efforts and content quality.
Having a blog helps increase your brand visibility, drive more traffic, and generate leads. There are several ways of monetizing a blog, such as:
- Writing sponsored product reviews. Get paid for creating product reviews from various brands. Make sure to produce engaging and honest content to attract readers.
- Offering a consulting service. Build a portfolio blog and sell your services as a consultant or coach. You can provide consulting services for individuals or companies, depending on your expertise.
- Creating a membership community. Invite readers to join your membership community. You can earn extra money by charging a subscription fee for access to exclusive content. You can easily do that with a WordPress membership plugin.
To build your blog’s visibility and memorability, develop a good blog name and branding. Keeping track of your blog performance is also crucial, so consider choosing a reliable web hosting provider with a good uptime guarantee.
2. Join Affiliate Marketing Program
Joining an affiliate marketing program allows you to generate a passive income by promoting companies’ products or services. To become an affiliate marketer, find a company that offers a good affiliate program, such as GiddyUp, DFO Global, Amazon Associates, and eBay Partner Network.
You will also need to create a platform to promote the products or services, such as a social media account, a YouTube channel, a website, or a blog. Ensure that you use the right platform that aligns with your niche. For example, if you have amassed a large following on social media, promote the affiliate products there to maximize profits.
There are several benefits to becoming an affiliate marketer. You don’t need to create or produce your own products, stock supplies, or hire employees. Additionally, becoming an affiliate marketer doesn’t require any specific skills, meaning that anyone can join an affiliate program and start making money online.
3. Build an Online Store
Creating an eCommerce site is excellent for people who want to sell their products online. As of 2021, the number of online shoppers has reached 2.14 billion, meaning that there is ample opportunity to make money online.
To generate profit, there are a few important aspects to consider when building an online store:
- Create enticing product showcases and descriptions. This helps attract visitors to take action, such as clicking on a product link and adding an item to their shopping cart.
- Have multiple payment and shipping methods. It will encourage visitors and potential customers to complete a purchase.
- Make an easy checkout process. This improves the overall user experience and can motivate customers to make more purchases from your eCommerce site.
- Ensure the online store’s security. Make visitors feel safe when providing sensitive information like credit card numbers or shipping addresses by using secure web hosting and installing an SSL certificate.
4. Start a YouTube Channel
Besides eCommerce sites and social media platforms, YouTube is a popular platform to make money online. A YouTuber can earn an average of $0.18 per view with AdSense.
You can join the YouTube Partner Program to start making money from videos. However, creators must pass the minimum eligibility requirements to join the program, like hitting 4,000 public watch hours, getting 1,000 subscribers, and having a linked AdSense account.
There are various popular YouTube video topics to choose from, such as entertainment, gaming, music, sports, and food. We recommend sticking to a specific topic to narrow down your niche and attract a targeted viewer base.
5. Become a Freelancer
Becoming a freelancer means having the freedom to manage your working hours and decide where to work. For that reason, freelancing is a good way to earn more money online, too.
Most freelancers earn based on their own fixed rates or clients’ payment agreements. For example, US freelance writers can earn around $5,200 per month. This number differs depending on their expertise and how many projects they take on.
There are several ways of promoting your freelance services to clients. For example, display your portfolio on your own website or social media accounts. Popular freelancing platforms such as Fiverr, Upwork, and Freelancer are also useful for marketing your skills and looking for job opportunities.
6. Create an Online Course
An online course is an excellent business idea if you are an expert in a particular field. It’s a great way to help other people learn various skills and demonstrate your knowledge. Depending on the online course platform, you can even reward participants with a certificate of completion.
In addition to being knowledgeable in your niche, you’ll also need good teaching and communication skills to develop an engaging online course. Here are other helpful tips to get you started:
- Choose the right subject. Pick your area of expertise and research popular online courses on platforms like Coursera and Khan Academy to look for profitable topics.
- Target your audience. Narrow down your audience and understand their needs. This will help you craft an effective teaching plan and decide which teaching methods to use.
- Make your lessons insightful. Keep your audience engaged by offering unique information and tools to help them in their online course journey.
- Pick an online course platform. Upload and publish lessons on your own website or a platform like Udemy.
- Promote your online course. Use social media platforms like Instagram or LinkedIn to market your digital lessons.
7. Complete Online Surveys
If you want to earn quick dollars without selling products or services, consider participating in paid online surveys. Popular online survey sites, such as OneOpinion, Survey Junkie, Swagbucks, and Opinion Outpost, are a great starting point.
You can earn around $0.41 to $2.03 per hour doing surveys. However, some websites pay participants via points, which can be redeemed after completing a certain number of surveys.
Note that doing online surveys isn’t a viable long-term option compared to other entries on this list. However, it can be a good way to pass the time, share your opinions, and make extra money.
Here are several tips to pay attention to when participating in online surveys:
- Don’t share your personal information. If you come across an online survey site that asks for personal information, it’s best to avoid it. It might be a phishing attempt disguised as a trusted online survey site.
- Create a different account just for survey sites. We recommend using separate email and social media accounts to link to survey sites.
- Manage your time. Filling out surveys can be time-consuming and often takes a few hours at a time, so schedule your time efficiently.
8. Become a Virtual Assistant
Becoming a virtual assistant can be an excellent way to earn money online, as this business idea is in demand. Many companies prefer to hire virtual assistants only when they need them, so it is possible for you to work multiple jobs in this role. You can also work from anywhere since you will be virtually self-employed.
As a virtual assistant, you will do various tasks such as transcribing documents, creating travel itineraries, and managing email accounts. However, you can offer other services, such as blog writing or advertising. We also recommend using freelancing platforms, like Fiverr and Freelancer, to find clients.
There are several qualifications you’ll need to become a successful virtual assistant:
- Communication skills are crucial for every virtual assistant, as it helps you attract clients and build a solid reputation.
- Time management and organization are two crucial skills for scheduling and managing tasks accordingly.
- Computer proficiency is required since you will utilize standard software applications, like email and calendar platforms, to work. You will also need to be familiar with file sharing and teleconferencing.
There are many opportunities nowadays to sell online and earn money. Regardless of your business idea, make sure to pick one that aligns with your skills and passion.
The following is a recap of eight business ideas to make money online:
- Create and monetize a blog.
- Join an affiliate marketing program.
- Build an online store.
- Start a YouTube channel.
- Become a freelancer.
- Create an online course.
- Complete online surveys.
- Become a virtual assistant.
Now that you have learned the different ways to make money online, get ready to work hard and accomplish your goals. Good luck!