Today, very briefly, I’ll set up some topics I’ll cover over the next few weeks unless news about making money online unveils itself in such a sensational way that I’ll have to break into program to share. The terms I share below are familiar to you, I hope. You may already be posting blog articles, writing articles for a publication, conducting e-Commerce, and delving into other options. Now that we have easy access to AI, the options might prove to be endless.
Please feel free to comment, to add your ideas, or to announce to the world what you’re currently engaged with online in the comments. Let us know if you’re making money or if you’ve decided it’s a wash. Please don’t tell me it’s a wash if you’ve only been working at your “passion” or project for less than a year. Please don’t.
Freelancing
Freelance jobs, which can also be labeled as “contract” jobs, usually are part-time. Additionally, freelancers are unable to participate in health plans, retirement plans, or any other benefits a company offers if you work for that company. That’s the downside. The upside is that you have freedom over your hours and may be able to work from home as long as you meet company deadlines.
Freelancing can include artwork, graphic design, web design, programming, writing, and other skills that a company might feel is not in its best interest to pay for as a full-time employee option. This work is considered payment for the freelancer’s time and skills. The freelancer may feel free, but their time is not their own when they’re working on a project for another entity. The added value is the addition of any new project to a resume and to a portfolio.
Blogging
When I go to tackle this subject, I’ll show you how to start a blog, where and how to learn how to write engaging content (hint: consistent and correct content sometimes is more important), and how to promote your blog. The latter skill is fun, because once you learn how to use social media, you’ll discover you can use it for a variety of money-making options.
I’ll also show how you can monetize a blog in a variety of ways, such as advertising, affiliate marketing, and selling products or services. Yes, even donations. The take-away value of blogging is far higher than freelancing, because you are creating content that you own. I don’t want to go further, because I’ll be digging into the monetization of this blog and its value as well. Just hang tight.
E-commerce
Do you have an online store? What products do you sell? How do you market that store and its products? Do you offer subscriptions or services?
Online stores and e-commerce are tricky when it comes to valuation. Sometimes a store that offers affiliate products only is more valuable than a store that offers actual items and must store them and ship them. A store that sells digital products, however…that’s the pinnacle of value in this realm. When I cover this topic, I’ll show you how digitization of your sales can provide an evergreen solution for your store’s value.
Investing
In 1993, Charles Schwab launched its online trading platform, which was one of the first to allow individuals to buy and sell stocks online. Other online brokerages soon followed, and by the late 1990s, online stock trading was a major force in the financial markets. Now, with fee elimination and new territories to invest in, from crypto to real estate — all online, I would be remiss in not mentioning this avenue as a means of making money.
But investing online also is a very easy way to lose money if you don’t have patience. Investing is a great way to grow your money that you’ll make, but I would avoid it as an easy way to make money the first year out. Of course, there’s always luck. And this caveat exists for a reason — that it takes money to make money — especially at current savings rates.
Other Topics
Some other ways to make money online include:
Online surveys: Online surveys provide a very slow way to make some extra money online. You can sign up for online survey sites and take surveys in your spare time. Perhaps, over a month’s time, you can make enough to purchase a meal at a fast-food restaurant.
App development: If you have the skills to develop apps (or if you know how to coerce an AI program to develop one for you), you can make money by selling your apps on various platforms. You also can use apps to grow your own business.
Social media marketing: If you have marketing skills that work well on social media platforms, you can make money by helping businesses grow their following and reach their target audiences. The only convincing you’ll need to make is to compare your services to any given social media ad service.
Pursue Your Passion
If you only have one or two hours per day to build an online business, then pick something you’re passionate about and that will drive you to accomplish a lot during that short time frame. Plus, you’ll be more likely to stick with your passion and grow it over time. Like investing, patience is key.
Do your research: Before you start making money online, it's important to do your research. This will help you choose the right method for you and avoid scams.
Be patient: Making money online takes time and effort. Don't expect to get rich quick.
Be persistent and consistent: If you want to be successful at making money online, you need to be persistent. Don't give up if you don't see results right away.
Be willing to learn: The world of online business is constantly changing. If you want to be successful, you need to be willing to learn new things and adapt to change.
In The End
Making money online is a great way to supplement your income or, eventually, to replace your full-time job. There is much to learn, well beyond the topics listed here. Search Engine Optimization (SEO), learning how to run a business and comply with taxes, and ways to protect your digital assets (There! I said it!) are all important to know as well.
This week I’ll get started on the freelancing gigs part of this series to provide information about how to make money with your skills and some platforms where you can get started.