There’s no better time than now to build a business and make money online.
With over 3.2 billion people now actively using the internet, we’re well into a massive transformation in how the world does business. We’re living in an age where there’s no longer limitations on what you can achieve based on geographic location or lack of financial resources.
If you have an internet connection and a few dollars in your bank account, there is little that can actually get in the way of you making some extra money online.
There are quite literally hundreds of clever ways to make money online. From taking online surveys, to renting or selling your old clothes, flipping your iPhone to someone in a different country, and even buying low-cost products locally, just to resell them for a higher price on Amazon. There’s truly no shortage of unique ways to make money online.
The internet has opened up so many opportunities to entrepreneurs and forward-thinking workers. But it’s also opened up considerable competition.
Here’s the hard truth: The only ways to make money online in any lasting manner, involve putting in real time, effort, blood, sweat, and tears.
This isn’t to scare you off. I simply want you to know that this guide is going to focus solely on ways to make real, sustainable extra income online. Not just a few bucks. I want to share all the mistakes I’ve made that got me to where I am now so that you don’t have to go through them, and can build a successful online source of income for yourself.
We’re going to start first with the top ten ways to make serious money online (with a long-term focus).
If you’re looking to build a true online business, or start a side business idea that has the potential to truly change your life (and you’re not afraid of investing months & years of work into the business), this where you should start.
1. Build a Niche Blog (or Website) and Use Affiliate Marketing
If there’s a niche you’re interested in and you can build a decent audience around it, starting a blog and using affiliate marketing to generate income is an incredible way to make money online.
2. Launch and Grow a Startup
Do you have dreams of running your own business one day? Building and scaling a high-growth startup, while by far the most difficult way to make money online, arguably has the most potential upside.
By the 3rd quarter of 2017, Venture Capitalists had invested over $61 billion into close to 6,000 startups in the US alone.
There’s money in the air, and if you can successfully create an online service, tool, or marketplace that fulfills a rapidly growing need in the marketplace, you could be on track for creating a very valuable business. However, it’ll undoubtedly take an intense dedication of time, efforts, and financial resources.
3. Build and Sell Software
Right now there’s an insatiable need for useful software.
Whether it’s an important consumer application, a specialist app to solve a particular niche problem, or even a time-wasting game you can play on your phone, you can create a massively successful business if you build software that helps people. (Look at the rise of Slack—the team communication software that went from side project to billion-dollar company in just 2 years.)
4. Start an eCommerce Site and Sell Physical Products
If finding a better solution to a problem hundreds or thousands of people have doesn’t seem like an option right now, you might be better off setting up a virtual shop and selling physical items.
These days, this couldn’t be easier. Sites like Shopify have made it easier than ever to build a customizable, powerful eCommerce site in a weekend and start selling products now.
This is probably one of the oldest and most time-tested ways of making money online. Plenty of digital entrepreneurs have created sustainable businesses by either:
- Creating physical products they know people in their niche will love
- Purchasing low cost goods manufactured in foreign countries, repackaging or combining them with other products, and selling them for higher prices on domestic online marketplaces.
5. Find Freelance Clients and Sell Your Services
If you have a marketable skill—like writing, designing, web development, marketing, project management, or anything else—one of the easiest ways to make sustainable extra money online is to start freelancing.
And while freelancing might not be as scalable as some of the other ideas we’ve spoken about, it’s not uncommon for solopreneurs to build healthy six-figure freelance businesses for themselves. (In fact, I’ve interviewed tons of them on my podcast!)
Today, over 54 million Americans are opting to forego traditional careers and start a freelance business.