The Best Way To Make Money Online At Home
A few years ago, I decided that it was time to pursue my dream of starting my own business. I have had many different ideas, but the biggest problem, is that it is really expensive to start a business. This proved to be a major barrier to entry for me, so I had to find another way. I realised that the future of business lies with the internet, so I decided to find the best way to make money online at home.
There are loads of ways that you can make a small amount of money online. But, I am going to concentrate on sustainable businesses that you can start at home.
The Benefits Of Making Money Online At Home
You will have your own reasons for wanting to start an online business, but I will go through some of the benefits that most online home entrepreneurs enjoy.
You Can Have Multiple Income Streams
I can’t remember who said it, but there is a quote from a billionaire type person, that said “if you have a job, you are one step away from poverty”. What he meant by this, is that if your job is your only form of income and you lose that job, you are in trouble.
By having an online business, you can generate multiple income streams. This takes a long time to do, but if one of your income streams suffers, you will have something else to fall back on. You may build multiple websites or use different business models completely, but working for yourself means you can alter where you put your effort to where it is needed most.
Choose Your Working Hours
The flexibility of most online businesses, means that you can work when it suits you. This does not mean that you can slack off and only work a couple of days per week. But it does allow you to fit work around your life, rather than the other way round. You need to be productive enough to still make your business work, so you will have to work late at night and on weekends. But, this doesn’t matter if you use your time wisely.
By being able to work at any time, you can spend time with family when it counts, exercise, chase your dreams and have fun. Just make sure you are organised and complete your weekly list of jobs.
Use It As A Side Hustle
Many online entrepreneurs use their online business as a way of earning money alongside their job or studies, this is how I started. As soon as I got home from work, I opened up my laptop and got cracking on my side hustle and now I just work from home.
This is one of the biggest advantages of making money online. You can earn money from anyone with access to the internet in the world. There are certain things you need to do to reach your intended audience, but, when done right it can be much more lucrative than opening a physical shop.
You Can Do It From Anywhere
Online business can be carried out from anywhere with an internet connection. For example, you may live in the countryside and find it difficult to get to somewhere where there are well paid jobs. Or you may want to travel the world while earning money. An online business allows you to work from wherever you want.
How To Choose The Best Way To Make Money Online At Home For You
When I was looking in to the right online business for me, I decided that whatever I chose, had to fulfil certain criteria. This is because I wanted to make sure that I wasn’t wasting my time on something that wouldn’t work for me. I recommend that you create a similar list for yourself, so you can eliminate the ones that don’t suit you. My list is as follows:
- It had to allow me to choose my own working hours
- It had to be worth the effort in terms of income
- There had to be good training resources, as I was starting from scratch
- It had to be legitimate, as I didn’t want to waste my time or anyone else’s
- It had to be based around something I was interested in
Examples Of Online Businesses To Start
I am now going to go through some sustainable businesses that you should consider. I have experience in all of these, to some extent and I believe that they are the best ways to to make money at home.
Affiliate marketing is what I spend the majority of my time doing. This is the process of promoting other people’s products and services in return for a commission. You do this by creating content on a website such as reviews, blog posts, personal experiences, tutorials and buyer’s guides. People will visit your website after finding it in their online searches. If your content is good enough, people will take on board your recommendations and buy products or services through your website.
Setting up an affiliate marketing website isn’t difficult, it can be done in an afternoon. The hard part is creating quality content consistently that ranks highly in Google searches. The more content you have (that is created in the right way) the more people will visit your website and the more money you will make.
Personally, I believe affiliate marketing is the best way to make money online at home. This is because the pros outweigh the cons and the barriers to entry are pretty small. The earning potential is fantastic, but you will need to work hard for a while before you make any money at all.
Check out my post how can I make money from affiliate marketing? for a simple guide on how it works.
Drop shipping is a very popular online business. The business model allows you to sell products without having to buy them in advance and store them. Also, the major advantage of drop shipping is, is that you don’t need to ship them either, as it done by the supplier.
I go in to the details in my post start a drop shipping business. But in summary, you start an online store with a platform such as Shopify. You need to choose a niche for your store, add appropriate products from Aliexpress and promote your store. When somebody places an order, you buy it from the supplier and the supplier sends it directly to your customer.
The way you make money, is by listing the products on your website with a markup on the supplier’s price. This price needs to cover the shipping cost, advertising cost and make you a decent profit.
The amount of money you can make in drop shipping is ridiculous. However, you need to get your marketing right. You do this by placing targeted adverts on social media. This costs money, but when you get the right recipe (learned from trial and error), you can scale up your adverts and reap the benefits.
Copywriting is in huge demand, as businesses need content creating for lots of different things. This content is used for communicating, educating, entertaining and informing people abut their products and services.
If you are good with words, you can start a very lucrative business as copywriter, by creating this type of content for businesses. I go in to the details in my post how to become a copywriter with no experience, but a copywriter can create all kinds of content ranging from, social media posts, white papers, promotional content, emails, reports, case studies or press releases.
There are people that make a very good living from copywriting, but you need to market yourself to get work. One way you can get work, is to set up a Fiverr account. This is a platform that people use to find people that provide all sorts of services. It is a great place to get started in copywriting.
Social Media Management
Social media is very important for businesses. But business owners can find it very difficult to post quality content regularly. Therefore, they use the services of social media agencies to do it for them. If you have a flair fo creating good social media content, you can be a freelance social media manager.
If you are interested in doing this, check out my guide on how to start a social media marketing business. But in a nutshell, find some local businesses that you would like to work with and check out their social media efforts. Do an assessment of what they are doing and come up with some ideas on how you would improve it. Then simply contact them and discuss your ideas and how you can benefit them and their business.
By building up a portfolio of customers, you can make a very good living from social media management. For example, depending on what your customers want, you can charge up to $1,000 per month per customer. Much of your work can be made easier, with automation and scheduling tools.
You may find that blogging is the best way to make money online at home for you. I explain that there are a couple of ways you can do this in my post how to make money from blogging. But the first way, is to write blogs for other people. Much in the way that businesses find it difficult to find time to manage their social media properly, they also struggle to find time to write blogs. Blogs are a great way to attract people to a business’s website in order to turn website visitors in to customers. You can make money by offering your blog writing skills to these businesses.
The other way to make money from blogging, is to start your own blog and monetise it. My post starting a blog for income goes in to all the steps and methods of starting and monetising a blog. Your blog could be on a particular subject or it can be a personal blog that is used as a form of social media.
Which Of These Is The Best Way To Make Money Online At Home For You?
I do a bit of all of these methods of making money. Before I started any of them I had no knowledge on how to do them properly. But I made sure I did my homework to find some great techniques make them work. Whichever one you choose, there will be things to learn, no matter what level of knowledge you have. Therefore, you shouldn’t be scared to start something new. Just make sure that you write down your list of prerequisites and stick to it. This way, you will make sure your choice is the right one for you.
If you have any thoughts or questions on any of this, please leave them in the comments section below.