Find out how to make money online in 2021. You can try these ideas as a side hustle, or even try to grow your online business into a full-time gig.
10. Social Media Marketing
The demand for social media marketing is quickly growing. There are many businesses out there that don’t know how to fully utilize social media to their advantage. That is where you can come in and help them harness the power of the internet!
Social media is a fantastic tool to scale businesses and to bring in more customers. It’s just that most business owners are focused on running the business itself, and could use some extra help with social media.
Businesses will pay people to run their social media accounts, to create Facebook ads and Instagram ads, and to run email campaigns.
There aren’t many costs to start a social media marketing agency.
A good tactic to get started is to approach local businesses like dentists or restaurants. Offer to run ads for free for a month – they would just have to cover the cost of the ads you’re running.
If you are able to bring more traffic to their website or more customers to their business, you can start charging monthly or per campaign to continue to manage it for them.
9. Amazon FBA
Starting an Amazon FBA business requires quite a bit of work, but can be a great way to make money online.
It seems like the general population is unaware that when you buy something on Amazon, a good majority of the time you are actually buying from a third-party seller.
So that’s people like you and me working with manufacturers to have products made. Those products are then shipped to Amazon warehouses. If you were the seller, you would list the items on Amazon, and whenever a product is sold, Amazon ships it out (with Amazon prime or whatever shipping method the buyer chooses).
You don’t necessarily have to be inventing new products. Most people sell white-label, or private label products.
This is where a manufacturer or distributor is selling you generic items that other people sell as well. There’s not a brand attached to it, you create your own branding around it. So an example of this is when you’re in the store and you’re looking at multi-vitamins, and you see a bunch of different brands. Maybe the packaging is different, maybe the shape of the vitamins is slightly different, but it’s the same product (probably made in the same place) just with different branding.
Out of everything on this list, starting an Amazon FBA business probably has the highest startup cost and takes the longest to set up. You’ll likely need to have a few thousand dollars to get started, and it’s going to take some trial and error finding products that sell, and to work with manufacturers to get the quality you need.
8. Open a Shopify store
Shopify is a great e-commerce platform. You can set up an online store and pretty much sell any products you want.
Here are a few specific methods to use Shopify that have the lowest overhead costs:
If you watch anything in the entrepreneur space on YouTube, you’ve probably heard of dropshipping.
Dropshipping is a method of selling products where you don’t have to hold inventory. You list items on your store that you can get from a manufacturer on AliExpress or similar sites. When someone orders the product off of your website, you order the product from the manufacturer, and they will ship it directly to the customer.
Print on Demand
With print on demand, it’s a similar concept to dropshipping. Whenever someone orders a design on a product like a t-shirt or a mug, then you have that design printed on it, and it ships out to the customer.
If you are based in the U.S., some of these print-on-demand companies offer products that are also made in the U.S. You won’t necessarily have as high of a profit margin selling U.S. products, but you’ll have the peace of mind knowing that your products are ethically sourced.
Selling digital products is a great business model all around. You can have very high-profit margins since you aren’t physically having anything produced. You could offer instant digital downloads of wall art, templates, planners, photo presets, etc.
7. Flip Domains or Social Media Accounts
If you are good with coming up with creative or catchy names, flipping domains and social media accounts is a great idea for you! You can easily buy cheap domain names or create Instagram accounts for free, and resell them for profit.
People will pay for a good name alone. It’s even better if you can turn a domain into a blog that generates some cashflow, or if you can start building an Instagram account’s following. You’ll be able to sell those for an even higher profit.
6. Affiliate Marketing
Affiliate marketing is where you refer people to a product or service, and if they sign up or buy through your link, you get a small commission (with no additional cost to the customer). The best part? There aren’t any startup costs.
If you have a blog and you want to put links on there, you’d have to pay for a website. But using affiliate links on a free YouTube channel or an Instagram page works just as well.
The easiest way to get started with affiliate marketing is with something like Amazon Associates.
Amazon Associates will give you special links to products on Amazon. When they buy that product (or almost anything else on Amazon) within 24 hours of clinking your link, you will earn a commission. Depending on what category the items are in, you will earn different percentages of the sale. They’re usually pretty small, but it can start adding up if you have a high volume of people clicking your links.
There are a ton of different referral programs out there. There are also affiliate networks. (A few examples: ClickBank, CJ Affiliates, and Share-a-Sale). Signing up for one of these affiliate networks gives you access to a database of companies and services offering affiliate programs.
If you are good at writing, copywriting may be right up your alley.
Copywriting is writing the copy (or the sales text) for advertisements or websites or any other marketing materials. It’s essentially persuasive sales writing!
Read Also: 10 Online Jobs That Pay $15/hr or More
Good copywriters are expensive to hire because their services are so valuable to businesses. If you can basically close a deal for a company with your copy, on an advertisement, businesses are willing to pay a lot for that (especially if it’s a high ticket item or service).
4) Day Trading
Out of everything on this list, day trading is probably the highest risk. There is a steep learning curve, and you do need to have a little bit of time available during regular market hours. You also need to have money available to trade with.
Just as a reminder – 90% of traders lose money trying to beat the market. But if you are able to become good at day trading, you can make decent money doing it.
However, most people will probably want to stay away from day trading and stick to investing.
3) Start a Podcast or a YouTube channel
Starting your own podcast or YouTube channel can be an extremely lucrative (and fun!) way to earn money online.
There are many different ways you can make money with these platforms – advertising, promoting your own services, or through affiliate marketing.
Podcasts and YouTube channels are great ways to build up brands, whether that’s your personal brand or some other business that you have. And compared to just putting articles out on the internet and hoping someone finds it, there’s still relatively high search volume but low competition for podcasting and YouTube channels.
2) Online Courses
If you have expertise in any area, or if you already have an audience following you for a specific topic, creating an online course can be a great way to monetize that.
Online courses are a fantastic business model because again, your profit margin can be really high since you aren’t paying to produce any physical products.
However, don’t just make a course for the sake of making a course. Only make one if you can actually provide value in some way. Otherwise, it’s a waste of your time, and it’s a waste of other people’s time. No one will buy your course if it’s just a bunch of fluff that doesn’t provide any value.
1) Freelance on Fiverr or Upwork
This one is going to be more active work for you, it’s not quite as passive or scalable as some of the other ideas. But it’s a great way to make some more consistent side income!
Fiverr and Upwork are freelancing platforms where you can find clients, and clients can find you. Fiverr is maybe a little bit easier to get started with, but Upwork is more professional and you’re more easily able to charge higher prices.
To find clients, target all of the people doing all of the other things on this list. Specialize in one skill set and master it! (It’s sort of the idea of in a gold rush, you want to be the one selling the shovels. You want to give them the tools that are allowing them to monetize their businesses!)
With any of these ideas to make money online, you want to be a bit creative and think outside of the box. You want to be able to stand out from all of the other people trying to make money online!