.jpeg) |
| Ways to earn |
How To Make Money Online And Increase Your Profit
The pandemic changed the way we use the internet. Facebook usage soared during the pandemic and businesses scrambled to get their online presence established. It felt like everyone was turning to the internet to learn how to make money online.
money bag
gettyIs it hard to make money online? It has its challenges as the way of selling online is different than offline. The benefit of selling offline is that you can form personal relationships with clients easier, and if you are selling products offline in your brick-and-mortar location buyers can see the product prior to purchasing which has fewer return rates.
Creating a business online takes hard work and there are few overnight success stories. It might be harder to make money online because you really must earn your client’s trust before they decide to invest with you.
There are many ways to make money online and it’s a great way to build a side hustle business or a full-time business. The benefit of creating an online business is that start-up costs are lower, and you can work from home or be a digital nomad.
If you are interested in making money online, you have tremendous opportunity. The online business space is estimated to grow in the years ahead. Knowing how to make money online will be an asset.
Regardless of the type of business you want to go into, knowing how to make money online also requires money management skills. When building a business, you need to understand your business finances.
Business presentation
getty 1. Create a separate bank account for your businessYou need to keep your business finances separate from your personal finances. By keeping these separate it is easier to track your bookkeeping for your business and it will make your life a lot easier at tax time and if you need to deal with the IRS.
2. Leave an audit trailYou need to keep an audit trail for every transaction that goes through your business as proof that you purchased that item. If you get audited by the IRS and do not have supporting receipts for purchases, chances are they will exclude that from allowable business deductions, and it will increase your taxes payable.
3. Implement a good financial bookkeeping system right at the startYour bookkeeping system is the holder of your financial data for your business and keeping accurate and timely records is important so that you can run financial reports and understand how your business is performing. It is vital to always know the financial health of your business.
4. Watch your cash flow right from the startTracking the timing of cash coming in your business and when financial obligations need to be paid out is important to ensure you have the cash in the bank to support these transactions.
5. Focus on sales and managing the moneySales are essential to a successful business but so is managing your money within your business. When you spend less than what you are bringing in the business that is a great start to the business. But as you reinvest the profit back into your business and grow the business, you will need to have an effective financial system in place that will help you manage your business finances.
profit graph
gettyThe bottom line is knowing how to make money online is interesting but knowing how to manage your money will keep you in business for the long term. Whether you are making money online or through a brick-and-mortar business, the money management aspect of your business will always be the same. Ensure you have a solid financial foundation before you grow and scale your business.
Make Money Online For Free: 11 Ways To Earn Extra Cash From Home
Have you ever wished you could make extra money working from home? The key is to find a great way to make money online for free. Contrary to popular belief there are plenty of legit ways to make real money online; the only investment needed is your time.
You don’t need to have a particular skill set or talent to make money online. Whether you’re looking to earn a full-time income or supplement your current income with a side hustle, there are several different ways to make extra cash.
How To Make Money Online for FreeTake a look at these 11 examples of online work you can do without having to invest a lot of money.
1. Teach English OnlineThe main requirement for working for most online companies that teach English is to have a college or university degree – the degree can be in any subject, not just education. Companies prefer native English speakers but will consider people who have proficient English language skills.
For many English teaching jobs, you don’t need prior teaching experience. Still, some companies prefer applicants to have a TEFL (teaching English as a foreign language) certification for teaching ESL (English as a second language). Another difference between companies is the age range and nationality of the students.
Within the past few years the Chinese government barred online tutoring platforms from employing foreign teachers outside of China. Unfortunately, this forced many popular companies that hired online English tutors that were based in China like VIPKid to change course regarding their hiring practices. But there are still teaching and tutoring opportunities available.
Companies like Cambly, Preply, and Engoo don’t require certification, teaching degrees, or experience but all of the above can land you a higher hourly pay rate.
2. Drop-Ship ProductsDrop-shipping is the process of selling and fulfilling customer orders without keeping any products in stock. A drop-shipping business model is a good option for you if you love the idea of having your own online store but don’t have a large budget or spare room to purchase and store inventory.
Instead, a drop-shipping company produces and delivers the items based on the seller’s orders, so you don’t have to purchase and maintain inventory or handle shipping.
Source products that are in high demand, mark up the price to ensure you’re earning enough money, and list items for sale on an online marketplace. When you make a sale the drop-shipping will ship the order to your customer and take their fees and delivery charge out of your revenue. Popular drop-shipping items include small electronics, t-shirts, and mugs.
3. Sell Digital ProductsYou can design and sell digital products even if you’re not a graphic designer. Create your own products on free platforms like Canva, which offers an endless number of free templates to help you start creating beautiful designs.
Items such as art for home decor, planners, and tracking spreadsheets are just a few digital products you can design for free on Canva and sell.
Use your social media accounts like Instagram, TikTok, and Facebook to promote your digital products without paying for advertising. An online platform like Etsy is a great place to start selling your creations and make some quick cash
4. FreelanceFreelance work includes writing, copywriting, photography, editing, and more. A freelance writer often writes articles or produces web content like informational well-researched pieces, how-to tutorials, or product reviews. In addition, freelance writing can be more lucrative if you have expertise in a specific niche, such as finance, technology, or home decorating.
Editing and proofreading are also in-demand services you could offer as a freelancer. Before publication, documents like books, manuscripts, and articles must be checked for logic and grammatical errors.
A freelance copywriter creates marketing and promotional materials to persuade customers to purchase a product or service. As copywriting requires a specific skill, you’re able to charge a higher price as a freelance copywriter.
You can find freelancing opportunities across standard job boards and places like Upwork, Fiverr, and niche groups on social media.
5. Write an eBookLong gone are the days of needing a publisher to become an author. If you can write blog posts, you can create and self-publish an eBook. An eBook is an “electronic book” meaning it’s a digital product you read on an electronic device or printout, not a physical book you would find in a traditional book store.
You can write an eBook on any subject matter such as recipes, poetry, short stories, or even a guide that teaches the reader how to accomplish a specific task.
The first step is to write on Google Docs, Microsoft Word, or Apple Pages. Then use Canva, which has free ebook templates to design your book cover. Next, you can format and convert your book to a pdf, Mobi, or epub using a website like Kindle Create, Sonar, and Calibre.
Finally, head to a free website like Amazon KDP, Barnes & Noble Press, or Smashwords and self-publish your book at no charge. Each site will take a percentage of the sale price as a commission for each copy sold.
6. Start a YouTube ChannelStarting a YouTube channel is a free way to make money online. But, of course, you need to find a demand and have the personality that draws viewers. For example, do you have a skill you can teach with how-to tutorials? Do you love baking or cooking and would love to share your cooking techniques and recipes? Would you like to review products, books, movies, or shows?
These are just a few things you can do on YouTube to attract viewers. Still, you’ll want to hustle and promote your videos on social media before you can monetize your channel. The YouTube partner program requires 1,000 subscribers and 4,000 watch hours over the past year before you can monetize your account and earn money for your video views. However, you can monetize your channel with affiliate marketing immediately.
7. Sell PhotosTurn your hobby into a side gig by selling your photos. Make money straight from your mobile device with photo-selling apps like Shutterstock, iStock, Etsy, and Adobe Stock. After uploading images to a photo selling app marketplace, you receive a royalty payment for each picture downloaded by a customer. The percentage or amount you receive will vary by the company and the quality of your images.
Another way to make money with photos is to turn them into prints. You can sell your photographs directly on a marketplace like Etsy. You can also use drop-shipping to add your images to posters, cell phone cases, t-shirts, mugs, notebooks, and journals and then sell them.
8. Create and Sell TemplatesIf you are creative and know how to use platforms like Canva, earn additional income by making custom templates like ebooks designs, Pinterest pin templates, online course templates, and more.
With a massive demand for digital products combined with great designs, you can attract many customers on platforms like Etsy and Creative Market. Putting the time into creating attractive and practical templates can be worth it because once the hard work of designing is complete, every sale is considered passive income.
9. Become a TranscriptionistTranscription involves listening to audio and video recordings of legal, medical, or general topics and typing out what you hear. Transcribing requires strong hearing and excellent typing skills with an additional focus on speed and accuracy.
Many transcription jobs available don’t require any previous experience. Still, you may need to pass a grammar quiz and a transcription sample to get the gig. Look for opportunities with companies like Rev, TranscribeMe, and Crowdsurf, or you can look on freelancing websites.
Entertainment, market research companies, educational institutes, and the medical profession are just a few industries that have created a demand for transcription services.
10. Become a Virtual AssistantA virtual assistant job might be right up your alley if you have good communication and organizational skills. A virtual assistant’s duties can vary depending on the industry. Generally speaking, a virtual assistant (VA) can perform such duties as:
These are just a few examples, and most virtual assistant skills are transferable to any industry. But suppose you have specialized skills, such as Pinterest management. In that case, you should find groups on social media like Facebook looking for this service. Download this free checklist to help you kickstart your own VA business.
11. Provide a ServiceIf you have expertise in an area, consider offering a service online. Find creative ways to promote your service on social media and display your abilities the best you can with creative and fun images and videos.
Some of the services you can offer to clients online include:
There is always a customer who has a need that you can fulfill. With some digging, you can find customers who can benefit from your skillset and your online services.
Final ThoughtsThis list of how to make money online for free requires no prior experience for many jobs and the flexibility to work from home and choose your hours.
In addition, many of these jobs or services are in demand and with no startup costs. So start looking for opportunities or promoting your services and earn money online.
This article was produced and syndicated by Savoteur.
Nadia is co-creator and author of the blog This Mom Is On Fire, a place where busy moms can find ideas for family meals, kids activities, and tips for saving time and money, as well as relate to common experiences in motherhood. She is also a freelance writer, primarily in the areas of lifestyle and personal finance.
27 Easy Ways To Make Money Online
GettyWho needs the 9-5 grind and struggling to pay rent in an expensive place like San Francisco or New York when you can easily make money online? Since your office can be wherever you open your laptop, more and more people are quitting their day jobs to do remote work. According to a study by Global Workplace Analytics and FlexJobs, the remote workforce has grown by 159% since 2005, and remote workers will make up as much as 50% of the entire workforce by 2020, thanks to the ease of making money online. The statistics also show another exciting trend for digital nomads: Remote work gives women, especially female entrepreneurs, an edge and is helping close the wage gap. And here's the best part: By making money online, you have the choice of living wherever you want. You can work from home or you can travel the world, which gives you another advantage—by earning U.S. Dollars as a digital nomad and living in countries that are much cheaper than at home, you can live very well indeed.
We sleuthed out some creative ways that digital nomads have found to make money online, from the website International Living—which just issued a new report detailing how expats are traveling the world and earning a living abroad—to FlexJobs, which recently published a story on the best fields to for remote work. The lesson? It's time to rip up the old rules and try something new.
READ MORE: "The Ultimate Paid Time Off: 17 Companies That Will Give You Money To Travel"
Getty1. Set Up an Online Course
Do you have a skill that you want to share? International Living suggests setting up an online course with written tutorials, PDF downloads and videos. For instance, Rebecca Groskruetz used her talent for furniture painting to create a site where members can go at their own pace. When she soft-launched the business, she sold 33 programs at $127 each. After doing a bigger launch later the same year, she sold 216 programs at $149 each. Her total sales the first year: $36,375. Some online resources for teaching courses include TakeLessons, Udemy and Skillshare.
2. Tutor
Another way to take advantage of your skills: Become an online tutor. The website Cambly helps you get paid to chat with people from around the world. While you're doing the tutoring, the site automatically tracks the time you spend, paying $10.20 an hour. While that might not sound like a lot, consider the fact that you can set your own hours, work as little or as much as you want—and if you're living abroad, $10.20 an hour can go a long way.
Getty3. Become a Travel Agent
Do you love to share advice on travel? Put your expertise to work and become a travel advisor. You can sign up for courses through a place like The Travel Institute. Or you can pay a fee to a company like Cruise Planners, which recruits and trains advisors to work remotely not only in planning cruises but in all kinds of travel—on land and at sea. The company was started in 1994 by a woman named Michelle Fee, who didn’t take a paycheck for the first three years so that she could invest back into the business. Now in its 25th year, Cruise Planners is the nation’s largest home-based travel agent franchise with more than 2,500 franchisees.
4. Be a Juror
Here's a case where you won't dread jury duty. The site eJury has revolutionized the way that lawyers prepare for trial by creating online mock juries and focus groups that help attorneys determine prepare case. You'll get paid for participating.
5. Play Poker
Seriously. Matador Network published a story called "How to Fund Your Travels Playing Online Poker." We'd say that's better than Vegas!
READ MORE: "Why You Should Skip Iceland And Go To These 9 Under-the-Radar Places"
Getty6. Let Someone Pick Your Brain
7. Become a Virtual Assistant
Are you organized and resourceful? As a virtual assistant, you make money by helping people and businesses with tasks ranging from data entry to research to customer service—the sky's the limit. The website VANetworking was founded by a virtual assistant and is loaded with tips and job leads.
8. Sell Your Photos and Videos
If you're traveling, it's likely that you're surrounded by gorgeous photo ops, and now that digital cameras are widely available, photography and videography can be a good way to earn an income. Stock websites make it easy for photographers and videographers to upload their work, then will market on your behalf and create passive income for you while you're off shooting the next beautiful location. Stock agencies looking for submissions include Shutterstock, Photoshelter, Fotolia and iStock.
9. Become a Travel Writer
Again, if you're traveling the world, it's the perfect opportunity to write about your experiences and get paid for it. That said, making money as a travel writer isn't easy since you must be able to sell your articles or create a revenue-producing travel blog. But where there's a will, there's a way, and Lonely Planet even published an entire book on the topic, "How to Be a Travel Writer," available in print and as an e-book.
READ MORE: "Bucket List Travel: The Top 50 Places In The World"
Getty10. Write an E-Book
Speaking of e-books, it's a great way to turn your expertise into a platform that people will buy, creating a form of passive income. Kindle even has a step-by-step guide for how to create, publish and market an e-book.
11. Publish an E-Book
According to International Living, an even faster and easier way to make money with e-books is to find a book that has already been published in print and license it to publish online. "The person doing the online publishing gets the lion’s share of the money—paying the author the standard 8% to 15% royalties based on net sales," says International Living. You can sometimes do a one-time payment for the rights to publish online, like Vic Johnson. "I once bought the rights to a book for $200, simply because I liked the content," says Johnson. "Over the years, I’ve made over $50,000 selling it as an e-book.” Consider this statistic: There are over 44 million print books on Amazon but only 2.6 million Kindle books—that's a lot of material that could be converted to e-books.
12. Teach English
Most people think you need to be living abroad in order to teach English to foreign students. But as GoOverseas.Com points out, "With video chatting and conferencing growing easier and more reliable every year, teaching English lessons online is another great way to fund your life abroad or at home." For a slew of companies that will set you up with online students, check out this article on Teach Away. Rates for teaching English online can go up to $22 an hour.
13. Create Software Reviews
If you have strong opinions about software, whether positive or negative, you can get paid for creating reviews. SoftwareJudge.Com pays up to $50 dollars for, as they describe it, "tell-it-like-it-is, no marketing BS, straight-talking software reviews."
14. Translate
Do you speak another language? Consider doing translating. "Translation positions are plentiful in an ever-melding world with more global travel among those who speak different languages,"says FlexJobs, which offers a sampling of available positions. The company Smartling also makes it easy to become a translator.
15. Create a Blog
So you're an expert on a topic? Create a blog about it. "Always think about the value you’re providing," says International Living. "Why should anyone read what you’re writing? What’s in it for them?" The best blogs showcase your experiences by providing info that's helpful to others. So how to earn money? A big method is by affiliate income: earning a commission if people end up buying someone thanks to your blog. “Right now, my biggest source of affiliate income is from Amazon, which is anywhere from $300 to $600 per month," says Ali Garland who has been blogging since 2009. "And the great thing about this type of income is that the money keeps rolling in even if I decide to take a couple of days, or even a week, off." The blogger Nomadic Matt has multiple e-courses on the topic.
16. Become an Account Manager
"If you have exceptional listening skills, as well as the ability to anticipate the needs of others, becoming an account manager could be a good career choice for you," says FlexJobs. Some of these positions include pharmacist account executive, link building specialist and account strategist.
17. Make a Podcast That Pays
Podcasts are red-hot. Want to create one? All you really need is a laptop and a good microphone. And here's the other good news: Podcasts don’t need to run daily, and because they're not live, you can record multiple episodes at once. According to International Living, there are many ways to make money from a podcast, including commercial sponsorships or advertising products or services. “I can record and broadcast a podcast wherever I am in the world," says podcaster Luis Congdon. "It’s remarkably simple, and it can also be profitable. Using a lightweight and low-cost microphone and a laptop I’ve recorded from a hut in the Philippines, a co-working space in Bali and even while staying on a farm in Colombia.”
18. Get Crafty
Are you a crafty entrepreneur? Everyone knows the site Etsy, which is a marketplace for handmade items. But now you can sell your jewelry and other handmade wares on sites like Amazon Handmade, ArtFire, Cargoh and more. You'll find many more resources in this helpful article.
19. Write
You don't just need to write about travel when you're traveling. If you're a good writer, you can probably write about anything. According to International Living, Leslie Patrick Moore is a writer who lives in San Miguel de Allende, Mexico and earns two-thirds of her income by crafting marketing copy for companies. “My creativity has been able to flourish here without having to constantly worry about money," says Moore. "And it doesn’t hurt that my office is often my hammock, set amidst the colorful bougainvillea that grow against the brick walls in our backyard.” One company that hires online writers is iWriter, which pays up to $80 per 500 words once you're promoted up the ranks.
Getty20. Create “How-To” Videos
Jump on the YouTube vlogging wagon by creating how-to video courses. How do you earn money? "Instructors can monetize their videos by charging a subscription fee or password protecting content for paying customers only," says International Living. "Once you have a loyal and engaged following, you can start partnering with brands that will pay a fee to have their product mentioned or reviewed."
21. Get Paid for Online Searches and Surveys
This one's easy: Just add the site Qmee to your browser. If you click on a search result, you'll earn money. You can also earn cash rewards for taking online Qmee surveys and sharing your opinions on brands.
22. Do Narration and Voice-Overs
Thanks to smartphones, there's a boom happening right now in the audiobooks industry, which is in turn creating a demand for freelance narrators, according to International Living. “My typical ‘work day’ consists of two to four hours of recording during late morning and early afternoon," says Meghan Crawford, a freelance audiobook narrator. International Living says that even new narrators can earn an average of $100 an hour based on completed work. Joel Young is a top freelancer on Fiverr who has made more than $1.5 million dollars by selling his voice-over services. “That is an amount of money that would have taken me decades to earn without this platform,” Young told CNBC.
23. Become a Day Trader
Are you a whiz with the stock market? It's possible to earn a living by day trading, which can be done anywhere in the world. Marcello Arrambide from WanderingTrader.Com tells how to turn it into a profitable career that will allow you to travel.
24. Be a Freelance Designer
Are you a talented designer with skills in areas like graphics or web design? You can do what you love and get paid for it on the website 99Designs.Com, which will allow you to become a part of a global community of designers and bid on jobs.
25. Conduct Internet Research
According to International Living, you can make good money (up to $50 an hour) by surfing the internet. “An interesting new income category has emerged, thanks in part to the world of 'fake news,'” says Winton Churchill, the founder of an international training and consulting company. "Companies and individuals are more concerned than ever with fact-checking the information they use on their websites and in their promotional materials. And they’re willing to pay someone to make sure it’s correct.”
26. Fundraise
According to FlexJobs, digital nomads can make money by helping with fundraising "Fundraising positions are designed to garner the funding needed for projects and to maintain a business entity’s operations," says FlexJobs. "Donations can be solicited in the form of monetary tithing or gifts for a nonprofit organization." Here are some positions to look for: senior digital strategist, eCRM contractors, senior campaigner.
27. Freelance
Need more ideas? There are tons of general freelance websites loaded with opportunities from companies and small businesses. Some of these include Upwork.Com, a website for freelancers in fields ranging from sales and marketing to accounting to customer service. Or you can market your own services—whatever they are—on sites like Fiverr. The site was built on the fact that you can charge $5 for anything, but the sky's the limit. Kendell Rizzo went from waiting tables to marketing her services on Fiverr; now she makes six figures while she travels the world.
READ MORE:
• "The Ultimate Paid Time Off: 17 Companies That Will Give You Money To Travel"
• "Ranked: The 20 Most Dangerous Places to Live"
• "Bucket List Travel: The Top 50 Places In The World"
• "Why You Should Skip Iceland And Go To These 9 Under-the-Radar PLaces
.jpeg)
.jpeg)
.jpeg&description=How To Make Money Online And Increase Your Profit,27 Easy Ways To Make Money Online){kind=link}
0 Comments