Want the best way to earn money online?
There are plenty of ways you’ll be lost for choice. However, you need to research before you decide which one works best for you.
Just like there are many offline businesses, there are thousands of online business ideas to make money online.
The best way to make money online is mostly determined by your passion, determination, creativity, and focus.
Another thing to consider, and this is probably even more important, is the state of your mind — your mindset. No method, formula, education or technology defeats the human mind when it comes to making money.
So, when it comes to making money online, you may want to explore what is already proven to work and then subject it to your mind to determine if your mind can cope.
Making money online is not rocket science. Everything you need to make money is here on earth. The best ways to make money online are the ways that are already working.
Felix Dennis, in his bestselling book, “How To Get Rich”, talks of two types of mountains — there’s a mountain with gold and a there’s a mountain without gold. What this means is that if you want to make money faster, don’t do something that has never been done before. You’ll only have an uphill task trying to sell to people some strange product or service which customers are not used to. It takes time before people get used to it.
In other words, if people are already making money in a certain market why would you want to invent your own?
One thing is for sure. Making money whether offline or online isn’t easy.
Difference Between Earning Money and Making Money
There is a significant difference between “earning money” and “making money”. I came to learn this only recently. Although the terms are used interchangeably, they don’t mean the same thing. Knowing the difference can help you understand how to make financial progress.
You earn money by exchanging your time for cash, payment, or a paycheck, like doing a 9 to 5 job, building a website for someone or consultancy work.
Earning money has to do with performing work for someone else – a business-owner, employer, or a client for a paycheck.
Making money has to do with using your time to create a product or service that continues to make money for you. In fact, you don’t have to do it yourself. You can hire other people to do it for you. In this case, you can deploy your money to work for you. It’s not the same thing as exchanging your time for money. You’re not limited to how many products you can create or how much money you can make.
You make money by creating something that people need. For example, you can write a book or develop an online course that can be sold to people many times over.
The other thing is that you’ll spend more time and money marketing and selling the products but, again, you don’t have to do it yourself. Once the product or service picks up, it can make you money indefinitely.
Here are 10 ways to earn money online without any investment:
- Become a Freelancer
- Become a social media manager
- Become a logo or graphics designer
- Become a website designer
- Become an SEO consultant
- Become a Virtual Assistant
- Become a Writer
- Become a Captcha Solver
- Become a Micro-worker
- Completing online surveys
If you know who to do any of these jobs, just head over to Fiverr and create a profile. Then just approach potential clients and send a proposal.
There are literally thousands of online jobs you can do to earn money. You only need to Google the term “online jobs” and you’ll be overwhelmed by the sheer number of online job opportunities available.
Now that you know the difference between “earning money” and “making money”, which one do you prefer?
I’ll tell you which one I prefer.
I prefer to “make money” online.
Now that we understand the basics, let’s explore ways to make money online.
Here’s a video showing 10 legitimate ways to earn Passive Income online and how you can do it too:
The best way to analyze the best business model is by subjecting the models to an analysis.
We don’t want a business that will take years to make money.
We want a business that fits the following criteria:
- Low Startup Cost
- Short Time Frame
- High-Income potential
- High Passivity.
Furthermore, we want to identify a supply chain that’s already flowing and get in somewhere in the middle.
Actually, we don’t want to become manufactures or suppliers. We want to become middlemen or distributors. We want to start a distributor network.
The first Industrial Revolution was a time in history when people invented a way to automate the manufacturing of goods.
The second Industrial Revolution was a time in history when people invented speed (automobiles, aeroplanes, rockets, etc.).
The third Industrial Revolution was a time in history when people invented a way to process information faster (computers, laptops, etc.)
In the Internet Age, people have invented ways to share information faster and automate wealth using technology (smartphones, internet, etc.).
By leveraging technology, we can also automate the production of money.
Instead of manufacturing our own goods, we can just build a system to move other people’s goods and services to the market. The reason we do this is that there are probably more products and services waiting for people to move them to the market than there are consumers.
Moreover, we want a business that’s mostly hands-off, can be completely automated and will enable us to start making money fast (almost).
The technology to automate everything is already available cheaply.
Basically, the only tools you need are:
- A laptop or smartphone
- An internet connection
- Basic marketing skills
- A product offer or service to sell
One online business model that has been proven to work again and again in most cases with a low entry barrier and low risk compared to others, is Affiliate Marketing.
- Low barrier of entry
- No inventory
- No skills needed
- Low start-up capital
- Low risk
- No need for a website.
Need I mention more?
Affiliate marketing is a form of performance-based marketing where you earn a commission or revenue share based on your marketing efforts.
By signing up to become an affiliate marketer, you’re actually declaring that you want to become a distributor of goods and services for manufacturers or suppliers.
You become an affiliate marketer by signing up with one of thousands of affiliate networks. The affiliate network you sign up with depends on the type of products you want to distribute or promote.
There are literally thousands of affiliate networks from health products to beauty, from insurance and financial to gambling, and from business opportunities to digital products and courses to dog training.
There are several types of affiliate networks, but generally, 80% of affiliate networks use the following compensation methods:
- Revenue sharing or Pay per Sale (PPS)
- Cost per Click (CPC) or Cost per mille (CPM, cost per estimated 1000 views).
- Cost per Action (CPA),
- The remaining programs use other rare methods.
Before you sign up with an affiliate network, the best thing is to research the market using research tools like Google Keyword Planner and Google Trends. The tools will tell you which topics are currently popular and which keywords are being searched for the most.
These tools will also give you an idea of what’s already making money online. The Keyword idea will give you an indication of your niche market. Don’t go for broad-based keywords that have high competition. You’ll never beat the competition.
Go for niche keywords with low competition of less than 5,000 searches a month depending on your particular niche.
Notice these are just the basics.
Before you establish an online business and build a website or blog around a particular niche, you need to conduct extensive research of your particular niche, including feasibility, competition analysis, viability analysis, etc.
There are free and premium research tools including Moz Keyword Explorer, Keywords Everywhere, Keyword Snatcher, Google Trends, SEMRush, KWFinder, and Serpstat.
Register A Domain
Once you’ve established what’s already working, register a domain with a web hosting company. Godaddy, Namecheap or Bluehost are some examples of good web hosting companies.
The reason it’s a good idea to register a domain and create a website around a particular niche is that you want to build a business which you can sell if you get tired of it or need some cash.
Create A Website or Blog
If you don’t have web design skills, then you can get someone to design the website for you.
Content Management tools like WordPress will be sufficient for the job if you know how to use them. Or head over to Fiverr and get a competent web designer to do it for you.
You can monetize your blog in various ways:
- Google AdSense
- Affiliate Marketing
- Banner Ads
You can research these topics online to understand what they mean and how they work.
For a person starting from scratch, you have a long way to go.
I suggest you spend some time reading about relevant topics like Blogging, Online Marketing and “How To Make Money Online”.
This basically gives you the outline to start an online business.
The specific methods and means on how to go about it can be learned as you proceed.
For this, you will have to research online for good training and courses that will assist you to build an entire blogging system to make money online from scratch.
Here’s a basic blueprint of an Affiliate Marketing system:
- An affiliate network where we get our affiliate link.
- A website or some kind of web presence. This could be anything e.g. a website or a social media account. Facebook pages, Facebook group, Instagram or Twitter will do well.
- A web traffic system, an email list or an audience.
- A sales funnel to collect emails and generate leads.
- An autoresponder to send emails and promote your offers
- A Paypal account to collect money.
Then just share your affiliate link with your audience, email list, Facebook friends, Facebook groups, Facebook messenger, WhatsApp messenger, Instagram account, Pinterest and just about every other forum you can find on the internet.
Then watch as commission earnings begin to flow into your Paypal account or whatever payment system you choose.
That’s it really. We don’t have to complicate it.