Are you looking for ways to make some extra money on the side? Do you find yourself with a bit of spare time on your hands? If you do, then making money online maybe just for you.
None of the ways discussed in this article are get rich quick strategies. However, some can get you that extra cash in your pocket faster than others. As a general rule of thumb here (and in all aspects of life really), the more effort a strategy requires, the higher its potential of earning you a lot more.
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The three main categories of the strategies discussed include:
- Online Market Places
- Online Jobs
- Online Businesses
Online Market Places
These are online spaces that play the role of an intermediary between buyers and sellers.
Do you have some items that you hardly use, that are in good condition and are generally not serving much purpose in your space? If so, you should consider finding them a new home. This will help you to declutter your home/workspace as well as potentially make you some extra money online.
You can achieve this by selling those items in one of the following online market places.
This is a fashion selling app that allows users to buy and sell used clothing and accessories online, with an emphasis on higher-end name brands.
Making a sale on this app is as easy as snapping a photo of your sale item on your phone, uploading it to the app, and shipping it to the buyer with a pre-paid label provided to you by Poshmark.com.
You get paid once the buyer confirms receipt of the item. The payment will be made to you (less a small fee) as a direct deposit to your bank or opt to receive a cheque in the mail. Further, there is the option to keep your proceeds as a credit to use within the app.
This is also a market phone place app that operates quite similarly to Poshmark. Mercari, however, allows users to sell almost anything (not just name-brand fashion items) and therefore has a much broader appeal.
It also allows users to sell less than mint items, unlike Poshmark, which requires items to be in an almost new condition.
3. Facebook Market Place
This is a community based online market provided free of charge by Facebook.
There are no fees collected for this space. As such, Facebook does not facilitate any part of the transactions. The transaction details, such as payment and delivery, are agreed upon by the transacting parties.
Think of Facebook Market Place as a kind of an online garage sale.
In addition to selling physical goods, you can also sell various services online. Many platforms can enable you to provide (virtually, ha!) any type of service online. Below are some that you could look into:
4. Become a Virtual Assistant
You can provide support to businesses right from the comfort of your own home. There is a rapidly growing need for virtual assistants, especially in the current pandemic environment, when writing this article.
Services provided by a virtual assistant vary greatly depending on the type of business. Such services may include administrative tasks such as scheduling meetings, answering emails, replying to customers, making travel arrangements, etc.
A virtual assistant could also perform tasks such as graphic design, bookkeeping, social media and marketing services, digital project management, data tracking, and analysis.
Companies that commonly recruit virtual assistants include Robert Half International, Belay, Profit Factory, Equivity, FlexProfessionals, Delagate Solutions, among so many others!
5. Upwork.com and Fiverr.com
These platforms connect professionals to businesses looking for specialized skills on a freelance basis.
There are broad skill categories, including administrative support, design, writing, web, mobile & software development, data science & analytics, sales & marketing, legal, translation, etc. You would be hard-pressed not to find something suitable for you.
To be successful on these platforms, you should: build a strong portfolio and have competitive pricing that is not too high nor too low (don’t short-change yourself).
Similarly, Amazon Mechanical Turk enables businesses to outsource work that is too difficult for a computer to perform, such as translating audio and video from different languages, writing reviews, testing webpages, etc.
However, unlike the other two free-lance platforms, Amazon Mechanical Turk offers a fixed pay rate. As such, you may want to consider whether the pay is worth your time for this avenue.
6. Make money online by Tutoring
Tutoring students online is a great way to earn some extra cash right from the comfort of your own home.
There are various tutoring platforms that connect students to tutors. I have listed a few popular ones below for you to checkout if tutoring piques your interest.
This website allows you to teach almost any skill you have for pay.
Teachable skills could include how to speak/write a foreign language, play a musical instrument, cook, and use software such as Adobe Photoshop, Microsoft Office, Java, etc.
If you have any skill(s) that you are good at and enjoy, you can teach them to others and make some extra cash while you are at it.
If you love dogs, then this one is for you!
Rover is an online marketplace that allows users to buy and sell pet care services, including pet sitting, dog boarding, and dog walking.
The average part-time salary as a Rover dog sitter is about $1,000 per month. Rover is only available in Canada and the United States of America.
Check out Rover.com to make some extra money online!
Is photography something you enjoy? If so, you can upload some of your images to this platform and easily become profitable over time.
Shutterstock is an online platform where you can buy or sell digital media such as stock photography, stock footage, stock music, video clips, and digital editing tools.
To make a substantial income from this platform, you would need to keep uploading high-quality content consistently. Shutterstock allows you to retain the copyright to your work and earn a royalty whenever someone buys one of your image(s).
This category will require more upfront work to get started and to become profitable than the other two categories. However, once you establish the business, it is the most financially attractive as there is no limit to your earning potential.
How much you can earn is determined mainly by the amount of effort you put into the business.
Additionally, an online business can eventually become an attractive source of passive income for you, so all the upfront work will be worthwhile.
There are many ways to start an online business, including:
10. Print on Demand (POD)
POD is a printing technology and business process where a company completes printing tasks only upon receiving an order(s).
To get started, you would need to identify a POD platform. A POD platform allows you to create and upload a design to its e-commerce website. Whenever an item (such as t-shirts, caps, mugs, hoodies, phone cases, etc.) with your design is purchased, you get a commission. It is that simple.
Most of the POD platforms tend not to be exclusive, which means that you can upload the same design to multiple platforms. If this sounds interesting to you, I have listed a few POD platforms below to look into:
This strategy can be taken a little further by opening up an e-commerce store. I know this sounds a little intimidating, but it is quite doable with just a bit of patience and interest.
First, you would need to pick a niche such as sports, healthy living, travel, etc. Next, create your designs, or outsource this part from sources such as Upwork and Fiverr; these are discussed earlier in this article.
The next step would be to pick your POD supplier, such as any of the ones listed above. POD supplier platforms typically integrate well will with major e-commerce platforms such as Shopify. This is the host for your online store.
The POD suppliers typically take care of sourcing, printing, and shipping the merchandise. So let us assume that an item costs $10 to make and you list it for $25 on your online store, the POD supplier would keep the $10, and you would receive the difference of $15 in profit.
In essence, you can sell merchandise and make a good income without ever coming into contact with the goods physically. How amazing is that!
11. Selling Online Courses
Is there a topic that you are knowledgeable and passionate about?
Make some extra money by creating an online course about that topic that you love.
Types of courses could range anywhere from graphic design, software, cooking, making money online, etc. The sky is the limit. Two of the most popular online course platforms are Udemy and Skillshare.
|Larger of the two platforms||Smaller of the two platforms|
|Course promotion & marketing required||Minimal course promotion required|
|Students pay for each course they enroll in||Students pay on a subscription basis & gain access to all courses|
|Has a higher payout, which on average, is about $10 per student||Royalties are paid based on the course watch time|
There is no exclusivity with Udemy and Skillshare, which means that you can repurpose your course(s) and sell to both platforms.
To be successful on either platform, quantity and quality will set you apart. And the neat thing about both platforms is that as long as the course content remains relevant, you can earn passive income in perpetuity!
Check out these related articles:
12. Amazon Kindle Publishing
Do you have a book idea or even a course that you would like to publish? Kindle Publishing could make it possible!
To publish a book traditionally, you would have to pitch it to a publishing company, often through an agent. And it can be quite a lengthy process to find the right publisher to take on your book.
Kindle Publishing allows you to sell a digital version of your book (or course) on Amazon without any upload charge. Royalties for work published on this platform range from 35% to 70%.
Additionally, Kindle Publishing is not exclusive, which means that you can sell your books on other platforms.
13. Start a YouTube Channel
Creating videos on YouTube may be a great way to share a passion that you enjoy and make a living from it as well.
To become monetized on YouTube, you need to get to a minimum threshold of 4,000 watch hours and 1,000 subscribers in the last 12 months. YouTube monetization features include advertising, fan funding, and merchandise sales.
Make money online with You Tube!
Advertising allows you to embed commercials in your videos. The advertising payout is based on CPM, which stands for Cost Per Mille (Latin for 1,000). The ad rates vary for many different reasons, such as the season, country, language, niche, etc. The average rate is about 7 USD per CPM.
YouTube Fan Funding
Fan funding is when a content creator has paid channel memberships. Members make recurring payments for exclusive content that is not available to the non-paying subscribers.
YouTube Merchandise Sales
Merchandise sales could also be included in a YouTube channel to earn a content creator extra income.
Other ways to make money on YouTube include brand sponsorships, popularly known as influencer marketing, and affiliate marketing.
It takes time to build a YouTube audience, but as long as you create engaging and high-value content, there are no limits to YouTube. Plus, videos will continue making you passive income as long as they remain relevant and continue to attract views.
14. Affiliate Marketing
This is earning a commission by promoting and marketing other people’s products or services.
It is a win-win framework for both the brand and the affiliate. For every purchase made through an affiliate link, you would make a pre-determined commission as an affiliate.
First, you need to join an affiliate program. Most companies will have this listed somewhere on their website. Once accepted into the program, you would be provided with an affiliate link which you can use to promote the given brand through various avenues such as:
- Niche Affiliate Marketing (such as your website)
- YouTube Affiliate Marketing
- Instagram Affiliate Marketing
Integrity is the key to becoming successful with affiliate marketing. Only promote brands that you genuinely believe in or brands that you already enjoy yourself.
15. Rakuten (formerly known as Ebates) Referral Program
Rakuten is a cash back and shopping rewards company that gives users cash back whenever they make a purchase using a Rakuten link.
Rakuten can pay out cash by negotiating a percentage of the purchase prices for referring new customers to the retailers’ sites. Some of that commission goes to the shoppers, and Rakuten keeps the rest. It is a win-win all around.
Firstly, you can save money while shopping for items that you usually buy. Rakuten has a wide variety of retailers ranging from Amazon to Walmart listed; you can find just about any store on the site.
Secondly, you can make money through Rakuten’s referral program. Once you are signed up (it is free to sign up), Rakuten will provide you with a link to share with your friends and family. When your contact signs up and makes a qualifying purchase, they will get $10, and you’ll get $25 for the referral.
With the extra cash in your pocket, find out why you should start investing here.
Finally, if you have enjoyed this article on how to make money online or have any questions, please leave them in the comment section below. I would love to hear from you! Also, please spread the word by sharing this post with someone that may benefit from it.
“When you have a dream, you’ve got to grab it and never let go.” ~Carol Burnett