A lot of people have posed the same question over and over again: why are you doing this? You need a brand new car? Maybe a brand new fancy penthouse? No. It is not about the money. It is not about fancy cars or modern flats. It is about a dream … a vision. It is about quitting our (mostly) boring nine-to-five jobs. So in this article I want to show you the 3 most important scenarios how to make money online.
It began approximately in 2010. Ever since, e-learning is becoming more and more popular. There are several related platforms out there such as Udemy, Skillshare or Amazon Video Direct where you can share your courses. You can publish your own course (video tutorial) on a specific subject. The topic does not matter.
The trend is that the majority of people browsing the web prefer video content (not sure whether you have used Facebook for advertising but video content converts far better than “static content”). So if you are into making money online this is a good start: create a course in your own niche. Are you a math teacher? Then create a math related course. Are you a working as a lawyer? Create a course in that niche. Take the first step, you will be surprised how many students out there are interested in your content…
What is the main advantage of creating a course? NO INVESTMENT NEEDED! I know. You have to create that content, the lectures one by one. But you don’t have to create a company, you don’t have to hire anyone. You can do it on your own.
Amount of money you can make: $100 – $200 per day (it is absolutely feasible)
So far we have been talking about creating your own products. But you do not have to have online courses or any digital products at all to make money online. You can sell other people products as well. This is called affiliate marketing. You make sure that someone will buy someone else products and you get a commission fee after every sale. Pretty straightforward. BUT and it is a big but: you can scale your affiliate business with your own products.
What do I mean? I mean that if you have – for example – courses in a specific niche (my niche is software engineering focusing on algorithms and artificial intelligence) and you can contact these students attending your courses. This is exactly where the magic happens. You can sell them valuable (!!!) content created by someone else.
Selling similar products is a good start. In my case if someone is interested in my Java programming maybe he or she will buy programming books from amazon. So what to do? Join Amazon as an affiliate, it is completely free to do so. You will get your affiliate links to whatever product and you can sell them to your audience.
Why did I mention that the content must be valuable? Because if your products or ebooks do not hold much value: no one will buy it. If your content is relevant to a specific niche AND holds value then it is going to work like charm.
How to create huge email lists and thousands of followers is a distinct topic…
Amout of money you can make: $100 (absolutely feasible … sky is the limit)
Maybe the biggest oportunity in 2017 is e-commerce. You can make a lot of money if you are motivated enough. It started several years ago but now is the right time to start your own e-commerce business. Warren Buffet sold 90% of his Walmart shares. Of course because the trend is that the majority of people prefer shopping online. One of the solutions is called ‘dropshipping’.
Dropshipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers customer orders and shipment details to either the manufacturer or wholesaler who then ships the goods directly to the customer.
Wow! It is insane. Because you don’t have to order several items to test whether a certain group of people are interested in that given product. No warehouse is needed with all the ordered goods no one is interested in. You just have to order the given product if someone has already paid for that. It means that basically there is no risk. OK, setting up your store (I recommend shopify but you can do it via Amazon as well) is not free. But believe me, $50 per month is totally worth it.
Amount of money you can make: $100-$1000 (absolutely feasible … there are gurus out there making $30k per day)