You might already have everything you need to start making money online — even if you feel like you have no idea what you’re doing.
“When I first got started as a freelance copywriter in 2011, I didn’t have any money to invest in my business,” says Sarah Jane Burt, a copywriter, content strategist, and founder of The Content Collective. “I was in graduate school for English and thinking about becoming a teacher.”
“Then, I met a guy at a party who owned a business. We talked about how I was in grad school for English and writing a ton of papers. He asked me if I thought I could write some content for his website. I figured, why not? And that’s how my copywriting business got started.”
In some cases, one person believing in you is all it takes to get your online moneymaking dream off the ground. By taking the time to get crystal clear on the fundamentals first, you’ll feel more empowered to choose your best next step and start taking action today.
We asked four online business experts — people making up to one million dollars per year and beyond in their businesses — what people should know about making money online. Here’s what they had to say, along with how you can decide which money-making ideas might be the best fit for you.
Can You Make Money Fast Online?
The short answer is yes. In fact, moving quickly to make money is sometimes your best bet. The challenge of generating quick cash helps you show up, sell online, and stay committed to your entrepreneurial pursuits, says Burt.
“When you make money quickly, you may also become more motivated to stick it out no matter what happens,” she says. “The reward of quick money gives you the incentive to keep making more even if you experience a challenge or setback.”
On the other hand, Burt also notes that having a “fast cash” mentality all the time could potentially stunt your rates and lead to burnout.
“When the goal is to make money quickly, you may lower your prices and do things for less money than you normally would – even though it’s the same amount of work. This can be really disheartening and lead to overwhelm and burnout.”
To help you balance short-term priorities with long-term success, document your initial wins for future reference. Capture testimonials or reviews from happy customers early on, because this social proof will help you establish credibility with future prospects and make good money down the line, says Nikki McKnight, an operations strategist and founder of McKnight Operational Consulting.
“People rely on social proof, reviews, and testimonials when making a buying decision online,” she says. “That social capital can take time to build up.”
1. Earn Money From Bitcoin Mining & Rig Setup
As per the latest weekly report from Arcane Research, BTC miners are now making $17.9 million per day.
Bitcoin mining is the process by which Bitcoin is verified and recorded on the blockchain.
Bitcoin miners use powerful computers to complete complex mathematical functions called hashes. The processing power required to mine Bitcoin is extremely high, but Bitcoin miners receive 6.25 BTC in reward, roughly $143,000, for mining each block of transactions in the blockchain.
- Bitcoin mining is extremely profitable in 2022.
- Bitcoin miners are currently mining around $20 million worth of Bitcoin per day. That’s $600 million per month.
2. Launch a Physical Product and Grow a Tiny Retail Empire
E-commerce is a red-hot industry, and tools like Shopify, Etsy, Fulfillment By Amazon (FBA), and Instagram’s Shopping feature have made it easier than ever to create and scale a product-based business — even if it’s just you to start. Successful e-commerce businesses are so in-demand, in fact, that there are entire aggregator companies like Thrasio and Perch dedicated to buying out your product-based business (for a lot of money) and adding it to their portfolio.
Physical product-based businesses differ from the previous three categories in that they usually require more upfront investment to develop and test your minimum viable product. You may not make money online in your first few months, and many e-commerce brands invest in their own website, their own online store, and their own sales channel. You’ll want to take this into consideration when weighing business ideas and selecting your online money making approach — especially if the industry you want to enter has production regulations.
Once you’ve dialed in your supply chain and your audience, however, you’ll have an online store that generates passive income while you sleep. Many e-commerce founders begin their entrepreneurial journey by inventing the product they wish they had; if you’re passionate about making a physical product you know people need, this approach might be perfect for you.
E-commerce Earning Potential
According to a survey from JungleScout of 4,864 Amazon sellers, 44% of respondents reported making between $1,000-$25,000/month in sales. 68% of sellers reported profit margins of over 10%, and 22% of sellers reported profit margins north of 25%.
It’s important to remember that any physical product will have manufacturing and shipping costs that can eat into your bottom line at first. Leverage advertising networks, review website, and social proof to sell online more efficiently and drive interest in your online store.
3. Embrace Retail Arbitrage (The Resale Economy)
Retail arbitrage refers to the act of buying items at lower or wholesale prices, then marking them up and reselling them in various marketplaces to turn a profit. If you have vintage clothing to resell, or have a good eye for purchasing goods at low cost locally that would be valuable online, consider exploring the resale economy.
You’ve probably already encountered retail arbitrage before without realizing it. When concertgoers try to scalp their tickets, that’s reselling. When people sell gently used garments on Poshmark or eBay, that’s reselling. In retail arbitrage, you are the middleman between who made a product and who the end consumer will be.
How Much Can You Earn from this?
Retail arbitrage can sometimes yield high profit margins, especially if you sell rare items or collectibles. However, the challenge almost all resellers encounter is time: between listings, photographing your products, and shipping to buyers, the process can quickly become a time-consuming side hustle. Retail arbitrage is a great option for people who don’t have many assets, but do have time on their hands, and need to make more money.
4.Get Into Affiliate Marketing
If you have an audience of people who might want to purchase from you, but don’t have anything to sell, why not sell someone else’s offers instead? Referral is a powerful driver for businesses, and many are willing to give you a commission as thanks for helping to direct new customers their way.
Affiliate marketing is not to be confused with multilevel marketing or pyramid schemes, in which companies say they are selling products to consumers, but are actually making most or all of their money off of the affiliates themselves. When considering an affiliate program, make sure the product is something that you love and want to both use and promote for yourself.
Note that if you are using affiliate links or affiliate marketing, you have to legally disclose this information on your blog, social media, and/or website.
5. Monetize your Twitch channel
Gaming could be a way to make money from home if you have a steady following on Twitch, the go-to site for gamers. Broadcasters can receive donations from viewers and even get a share of subscription and ad revenue if they reach Affiliate or Partner status. Learn more about how to make money on Twitch.
- Total time: This can be a long game.
- Setup: Quick and easy.
- How easy to start: Easy to start; takes a while to build a following.
- Age threshold: 13+.
- How fast you’ll get paid: Monthly.
You can launch a Twitch channel and start streaming in a day, but it will take weeks or even months to build a following.
Donation revenue can be withdrawn rather quickly, depending on the payout method.
Subscription and ad revenue earned as a Twitch Partner or Affiliate is paid out on the 15th of every month, and you must have a balance of at least $50 for most payout methods (it’s $100 for wire transfers)
6.Become a TikTok consultant
One of the trendiest ways to make money online is to become a TikTok consultant. Brands will contact you for brainstorming video ideas, developing engaging bios, and more. It’s the perfect money-making opportunity for digital nomads—you can run the entire business from your smartphone. Compared to Instagram, TikTok is relatively new and untapped, so helping brands establish a solid presence on the app can potentially make you a fortune.
However, you need to have a few talents before you begin offering TikTok consultancy to businesses. The most important is knowing how to create viral videos that get people to engage with brands. If you don’t have the expertise to drive sales through this platform, you can still learn how to attract customers by taking this TikTok course.
7. Sell your photos
If you’re known as the photographer in the family you can make some extra money by selling your photos online. There are websites like Fine Art America in which you can upload your images and have them featured on merchandise that’s then sold on the site.
8. Become a virtual assistant
More work than ever is being done online following the shift to working from home. It makes sense, then, that remote help will be needed. By becoming a virtual assistant via websites like Indeed (just search for “Remote Virtual Assistant”) you can work for a business in need from the comfort of your home office. The work needed varies – from writing to social media management to traditional bookkeeping – so look around for something that fits your skills and background.
How can I make $500 a day money online very fast?
- Build a Shopify store and dropship products online.
- Sell used stuff on eBay, Amazon, or Facebook Marketplace.
- Find and share coupons on websites like Coupon Chief.
- Buy and sell domain names.
- Rent your spare room on Airbnb.
- Provide TikTok consultancy to startups and businesses.
- Sell information products.
- Tutor people online in high-demand subjects.
- Flip your thrift store finds.
- Review apps and websites.
How can I make $100 a day on the web?
- Complete surveys.
- Sell products on Amazon.
- Teach English online.
- Watch videos for money.
- Get cash back on your shopping.
- Proofread for websites.
- Review music online.