In this digitally globalized world, there are numerous opportunities for anyone to make money online and have a regular source of income from the internet. We are in the digital age of 2019 and most of the successful businesses exist in the online forum. Jobs and workplaces are no longer stationary and we are mostly location independent to work from anywhere in the world with a working internet connection. The internet has become our main mode of communication and it is changing the way we work and share.
We have already entered the next phase of the development, the Internet of Things (IoT). This is the era when everything is connected to the internet and the cloud. This can be anything from your cars, fridges, and phones to even your household items. This level of technological progress has brought forward, the best scenarios for anyone to start adding more revenue streams and have a pipeline of passive income.
We will discuss the four main pillars to make money online in this article. The risk and reward vary according to the activities, and you can select the ones that make the most sense for your situation in hand. Passive income is one of the cornerstones of wealth generation and the internet has made it easier than ever before to get online and connect with customers seamlessly.
Let’s understand the various ways to make money online below:
Part I – Working online (Trading time for money)
A freelancer is a person who offers his work and expertise to an employer but is not considered an employee. Since they are not committed to the employer, they are free to work with multiple clients across industries. This kind of job can be short or a long term depending on the requirement and the kind of project undertaken by a freelancer. Freelancing is an easy and self-dependent job where an individual is solely responsible for his success. Online work is the perfect platform for freelancers as there are transparency, agility, and instant communication to complete projects in the best possible manner. Some examples of freelance work online are Website Development, Website Designing, SEO, Mobile App Development and so on.
2. Paid Surveys And Quizzes
Getting paid for taking surveys and quizzes are a very easy and entertaining way to make money online. Sites like cashcrate.com, mysurvey.com and many more help you in getting paid and rewarded for your participation. The activities may range from surveys, watching videos and even shopping online. If earning online is what you are looking for, kick start the process today by registering on vishumoney where you will find ample opportunities to earn and save while shopping. You can choose surveys, quizzes and other activities that will reward you with points or cash as per the policy. This method can give you a constant source of income as per your participation but the amount you earn will be marginal. So, participate in more activities to earn more.
3. Watching Online Ads
As there are abundant ads on the internet it has become the norm to skip the ads even before it starts. An ad is a promotional content that is used to reach people and convey the information on the product and the offers. YouTube is the biggest example of ad space where the majority of the videos warrants you to watch an ad before proceeding. There are many online money making apps where you need to watch an ad and earn points that can be converted into real cash. It is the best of both worlds as it gives you information, entertainment and also real cash for your time spent on watching the advertisement.
Part II – Passive income from sites and online assets
4. Website Ads
Monetizing the website is an easy way to make passive income. If you have a website that is already popular with a good amount of visits per month then enabling ads on the website will help you earn from every visit. There are a lot of people living their livelihood on website ads revenue and this is an easy setup process away. The only problem in this process is that you must already have a website that has enough traffic for the ads to run. Other platforms like YouTube also help you run ads on your videos thereby providing you with an additional source of income.
5. Creating Online Courses
We all have a specific skill that we are good at. Now imagine earning passive income by teaching that skill. Yes, it is possible to create courses on sites like Udemy, where you can get the opportunity to teach. These platforms connect students with the instructors and the purchase of courses is made online. Creating the course is a simple task where you need to make sure you share value to the course taker. The fact that it is online and once a course is made it is accessible from anywhere in the world makes it a very compelling product for Passive income. You can also make one course and keep earning from it for years.
6. Creating Digital Products
One of the most successful and rewarding revenue sources for passive income online are Digital products. Creating a digital product online will not only let you access the wide user base of the internet buy will give you substantial ongoing returns once it is made live. The best part of creating a digital product is that it can be anything that can be useful to the user. This can range from Apps, software, EBooks, Jingles, stock photos and more that can be put up for purchase and unlike a physical store, you are not held back by the location. If done right, digital products can be an amazing source of income for years to come.
Part III – An Online Business
7. Dropshipping Business
Online Ecommerce site has taken the center stage on the internet nowadays with Amazon being valued the highest. Being a seller in this space is a profitable way of earning money from the internet. As a merchant, you can list your products on the website and the customers can order it from the website platform. Once it is ordered, the requirement is sent to the 3rd party suppliers who ship the order directly to the customer. Being the merchant, you don’t have to stock up on products and but still sell the products in your name and take the better part of the profits. With many suppliers willing to drop ship this method of online business is ideal for long term growth and expansion.
8. Web Design Business
A website is a mandatory requirement for all the businesses that are trying to make an impact on the internet. But starting a Web Designing business requires a range of skills such as website development, domain knowledge, content creation, and designing. Your skills, experience, and aptitude will essentially determine your demand for website creation in the market. You can also hire people to create and design websites while you scout and retain clients. There are more surges in demand for website creation and it will be a very profitable business if done correctly. You could offer additional services such as SEO, Social media marketing and more to give more value to the customer.
9. Membership Website Business
The membership website model is a very popular and high revenue-generating model of business to run online. By running a membership model of business you charge a fee for being a part of a community or get access to valuable content. The best part of this concept is that it will be filled with like-minded people sharing the same interests. As an owner, you will receive recurring payments and can create chances to promote and sell the product once in a while on the community. There are forums like bodybuilding.com which has a very high user base and constantly provides new information and offers on a daily and weekly basis. There are also no products involved and the cost of running it is very low compared to other models of business.
Part IV – Online Investments And Lending
10. Trading In Stocks And Shares
Investing in stocks and shares is one of the best investments to make online. While purchasing stocks you are essentially buying a part of the company thus becoming a joint owner. The idea is to buy the stocks at a lower price and then sell them off at a higher range. As the value of the invested company increases, so does your investment in the company. From the past indicators, it is said that Stocks and shares outperform all other forms of investment in the long run. Stocks can also give you losses if not vigilant enough as the market can fluctuate and companies can wind up. The gains outweigh the risks and it is ideal for long term wealth generation.
11. Renting Out Your Items
There may be many items that we may not use regularly, and this can be put to use by renting them out online. There are many sites that give you a platform to showcase the items that you would like to rent. There are products such as furniture, appliances, clothes, tools, cameras and even vehicles that can be rented out and can give you better earnings in the long run. It is the easiest way to get money lending your assets and products.