Technology has been able to infiltrate every facet of our society, from promoting social interaction to assisting in the pursuit of business goals. As a freelancer, gig worker, or small business owner, you may take advantage of the limitless opportunities the internet presents by using a website builder and growing your reach.
And by that, we mean chances to make money. Whether you want to become an influencer, writer, web designer, instructor, or something else entirely, this book on how to make money online will provide you tested strategies that have helped millions of people succeed
5 smart ways to make money online
- Advertise on your website
You can begin generating passive revenue simply by creating your own website for your business. Creating an online revenue-generating website only requires a few simple steps. You must first choose a domain name, obtain free website hosting, then pick from a variety of well made website templates. After that, you can start considering your options for making money off of your website.
One strategy that has consistently worked is internet advertising. Advertisements on your website can be placed with Google AdSense. This approach is free and somewhat simple, as Google matches advertising to your website depending on visitor volume and content. After then, Google pays you according to how many views or clicks you receive on
Pros
- It’s a great way to generate passive income through ad revenue, while you focus on creating content on your site. It’s a hands off way to make money.
- It requires low level resources to get started, once you have your website and Google Adsense connected.
Cons
- You have have limited control over the content and quality of the ads shown on your site. Yes, Google has policies in place to prevent inappropriate content being shown but you may not have full content over what is shown and how your site visitors will respond to it. Sometimes the content of ads, or just having too many ads on your site can turn visitors off.
- Predicting how much money you can make from ads on your site can be tricky, as user numbers and clicks can fluctuate based on targeting. On top of this, Google takes a commission off everything you earn through them which can reduce your final revenue.
- Design websites
Creating websites can be a great way to make money, regardless of whether you’re a natural at it or have experience in it. In actuality, due to the industry’s rapid growth, web designers are in constant demand. Having said that, to stand out, you’ll need to establish a reputation for yourself. You can maximize your web design portfolio and showcase your skills by working with the right clientele.
Therefore, “How do I find my ideal customer?” may be on your mind. Acquiring a position in a reputable online marketplace for website designers is the most effective approach to begin producing quality leads. You’ll receive a platform that enables you to market your work, establish your fee schedule, and connect with prospective customers. Additionally, you might think about collaborating with businesses that provide you access to unique web design resources. As a Wix Partner, you will have access to expert resources and can hire a corporate account manager that is committed to helping you increase the conversion rate of your sales funnel.
Pros
- Designing websites, especially sites for large businesses can be very lucrative.
- Freelance web designers tend to have a lot of flexibility in their working day and schedules, which is a large positive for many creatives.
Cons
- Navigating client expectations and communication can be tricky.
Working as a freelance creative also involves a large amount of networking and drumming up business for yourself.
- Create a blog
One of the best things about blogging is that you can write about anything you want as long as readers are interested in reading it. Your free blog will eventually drive visitors to your website and present prospects for revenue. Blogging is an excellent job for a digital nomad for this reason, among others.
When it begins to gain momentum and a following, it will be the ideal moment to investigate the many revenue streams accessible to accomplished bloggers. For example, you can use Google AdSense to include advertisements within your blog or charge devoted readers a subscription fee to have access to your content alone.
Whatever path you decide to follow, don’t forget to consider your readers’ interests and preferences. Send out a survey along with an email blast to check in and find out what they would like. After that, you’ll be able to determine what appeals to them and how to directly monetise those concepts on your website.
Pros
- A blog is a low startup venture, with the right blogging platform you can often start one for free.
- It’s a great way to make money online for writers who want independence, flexibility and creativity in what they do.
Cons
- Depending on your blogging niche, it can be a competitive way to make money as blogging has grown in popularity and scale. And as your blog grows revenue can fluctuate from month to month.
- Blogging, while flexible, can be time intensive. Content creation takes time. Blogging is also about more than being a great writer, you’ll also need to create a website, distribute your content and engage with your community of readers.
- Open an online store
Online buying has come to be associated with ease of use. People are buying more products online than ever before as a result. Launching your own online store will allow you to take a piece of this lucrative eCommerce market. Make sure the eCommerce website builder you select has cutting-edge business features to assist you in managing your business, such as safe checkout and payment processes, tools for marketing and shipping, and shop analytics.
Establishing an internet store entails beginning your own business, so be sure you’re ready. Above all, before presenting your business ideas to the public, you must thoroughly test them. Gather market data and ask friends and relatives for their opinions. They can provide you with useful information that will help you make your product or service better (see out our advice on how to launch a service business).To be successful as a business, keep in mind that you need to sell something that customers genuinely want. When launching your online store, you might also want to think about consignment, which enables you to post goods for sale from vendors or other third parties but only pays for the item when it is sold. By doing this, you can start off without needing to make a significant inventory investment.
Pros
- With an online store the entire world is your potential audience. You can market and sell to anyone, anywhere. You can also do this 24/7, as your online store never has to close. You can essentially generates sales while you’re asleep.
- Starting an online store to make money generally has much lower overhead and startup costs than opening a brick and mortar store.
Cons
- Depending on your product or service, the eCommerce space can be a highly competitive one, with similar online stores targeting the same audience or market.
- There are many things to think of when running an online store, over any other types of business or website. Shipping and logistics is probably one of the main things to get right, and one of the most challenging parts of running an online store, especially if you plan to ship globally. You’ll also need to consider the security and reliability (hosting) of your online store to ensure your business continuity.
- Start dropshipping
You don’t have to stockpile things to be an internet merchant, as you may have learned. With dropshipping, you may use an outside retailer to handle the entire order fulfillment process while still selling products. Finding the ideal products for your company and getting in touch with a provider should be all that’s required. This implies that as soon as you incorporate your dropshipping products into your dropshipping website, you may launch a dropshipping company and begin taking orders.
Pros
- Starting a dropshipping business to make money is a quick and effective way to generate revenue. It requires minimal overhead costs, and all you need is a good online store and a reliable dropshipping supplier.
- You can test selling a wide variety of products without getting stuck with unsold inventory, so you can really take risks or test different product niches, and what sells best. At the same time, it’s easier to scale and grow a dropshipping venture because you’re not restricted by inventory storage space.
- There are plenty of ways to promote your dropshipping venture online, mainly across social media platforms, from Instagram and Facebook to Tiktok. All platforms provide both organic and paid promotion opportunities to get your business and product out there.
Cons
- You may have to contend with low-profit margins, as dropshipping suppliers often charge more than a wholesaler for the same product.
- As you never physically receive or handle the products you’re selling, you have to trust your suppliers quality guarantees. Sometimes there is a mismatch between what they deliver and your customers expectations and you’ll have to handle that.
- With dropshipping you’re completely dependent on the supplier, from the quality of the product, to the shipping times and delivery methods – so if any of these don’t meet client expectations, you’ll have to handle them.