As a business mentor I am constantly bombarded with the same question from my clients and from potential clients: “ What is the easiest way to earn money online?”
I always chuckle a little on the inside because, well, making money online the easy way is really not that simple. If it was, everyone would be doing it.
The online world is buzzing with get rich quick schemes from savvy internet marketers, and these claims are not just coming from internet marketers, they also coming from coaches, mentors, gurus etc.
“I make $1,000 per day off of my funnels, let me show you how!”
“I just made $80,000 off my most recent launch!”
Now I want to be VERY clear – not ALL of this is bullshit. I have accomplished both of the examples above, but let me tell you it was not all butterflies and rainbows. In fact, to reach that point I felt like I was jumping over hurdles multiple times a day.
You see in the beginning of starting a business you have to deal with a huge learning gap. You need to learn certain things in order to move forward. You also have to deal with the never-ending competition that surrounds you. Most importantly, you have to FIND the people who will pay to work with you. Traffic generation is where most people struggle. In order to make money you need to find the people who will pay you.
Is it possible to make $1,000 profit per day or more? Yes!
It is easy? Absolutely not. It requires work, patience and guts made of steel.
Like I said, if it was easy to make money online then everyone and their granny would be doing it. If you come across a mentor or coach that tells you otherwise, run in the other direction. They are not being transparent with you.
So… Just over two years ago, I had a business model that was thriving, but at the cost of my freedom. My business owned my ass. I was literally trading my time for money, which left very little time for me to do the things I wanted to do.
I was looking to change that and I wanted to know how. I asked my mentor the same question that my clients now ask me: “What is the easiest way to earn money online?”
Before I share with you five solid ways that you can – and I do – make money online, let’s talk about what it takes to start from ground zero and build an online cash machine.
Pain vs Pleasure
Humans are naturally pleasure seeking beings. What does that mean? It means that we base most of decisions and actions on what “feels good” and we do whatever we can to avoid feeling pain.
When most people start their businesses they feel on top of the world. They are excited by the idea that they can make money without ever having to leave their home. They get to bypass all the everyday hustle and bustle. What they do not anticipate is all the speed bumps they will encounter along the way.
For many, the moment they hit their first speed bump, they are brought down to their knees. They did not expect that there would be so much work to get their business running. They expected that if they just did the work it would all fall nicely into place. They expected it to be EASY.
Let me be very frank with you, expectation is the biggest dream killer. You have to learn to embrace uncertainty when starting a business. When you do, the process is so much smoother.
You need to be ready to do some manual labour.You need to be willing to try different approaches and strategies, to analyze your results, to adjust and change course if necessary. You need to keep your spirits up and keep going when the going gets tough.
Still with me? Then this blog is for you!I am going to walk you through five solid ways that you can make money online.
Do they require work? Yes! Is it worth it. Absolutely. I love making money online – and it is far more passive then selling my time for money, which is what any service based business is. I want to point out that I have done all of the strategies I am about to share with you for myself or with a client and have seen amazing results.
1. Write And Sell An Ebook
Writing an ebook is a great way to make some extra money online. You can make thousands of dollars per month by sharing all the knowledge you have. If you’re a service based business such as a coach, ebooks can be used to strengthen your brand. You can use them as sales funnels and as a way of promoting yourself as an expert in your niche.
There is often this perception that the market for ebooks is oversaturated. While there is some truth to this, if you have technical knowledge in an area people are seeking guidance the income potential is limitless.
Does this mean that you can just write about anything and it will sell? No. There are foundational steps that must be taken to determine what people are looking for. Once you have uncovered what these topics are then you can fill the gaps.
You might be cringing at the idea of writing. Perhaps writing does not come easily to you. Don’t worry. You can easily hire someone to do the writing for you at a minimal cost. Once your book is done, you can sell your ebook on Amazon Kindle or CreateSpace.
The best part about this approach to earning money online is that it is limitless when it comes to income and has a very low startup cost. Once all the hard work is done on the front end, you can literally sit back and allow the sales to come in each month – while you work on your next book.
2. Affiliate Marketing
Affiliate marketing is a very popular way to make money online. Affiliate marketing is promoting other people’s products and services and earning a commision. Affiliate marketing is a great way to generate income because you do not have to invest the time and money creating your own product.
For example, Marie Forleo floods the internet every year around February. She has a ton of affiliates that sell her signature program B-School. Let’s pretend you’re an affiliate and Marie pays her affiliates 50% of sales. If Marie’s program costs $2,000, that means you would earn $1,000 for each person who signs up to her program via your affiliate link. Your main focus would be to promote her program.
If you’re interested in selling other people’s digital products, Clickbank is a great place to start. Clickbank is one of the largest retailers for digital products with great commission structures.
Another way to make money through affiliate marketing is by selling other people’s physical products. Amazon Associates program allows you to sell other people’s products. All you have to do is simply sign-up and start promoting these products. Again, your job would be to drive traffic to the products that you’re selling. Most people use a variety of techniques to sell products. Some of the ways you can do this is by selling on a website, embedding links in blogs and through email marketing. Amazon Associates is perfect for people who are non-techy.
Drop shipping is my personal favorite way to earn money online.
Drop shipping is a retail fulfillment method where an online store doesn’t keep the products it sells in stock. Instead, when the store sells a product, it purchases the item from a third party and has it shipped directly to the customer. This means that when you own the store, you do not have to worry about carrying stock or shipping. Your main focus is driving traffic to your online store.
Let’s pretend for a moment that you want to earn money online this way. What would you need to do in order to make this work? You would need to create an online store to drive traffic to. I personally love using the Shopify platform to build my stores. It is perfect for creating beautiful online stores with ease. The majority of your stock will come from online wholesalers like Aliexpress or Alibaba.
Remember when I was saying that making online money is not very easy and that it requires work? Well dropshipping is a perfect example of that. There is a lot of foundational work that needs to be done before you can begin making sales – for example building your site is not hard but it does require time. You then have to learn how to drive traffic to your stores. Again, not hard but does require some effort.
The Dropshipping business model has no income ceiling at all. You can earn as little or as much as you want. For those who are wondering if you can earn seven figures this way.. You can! Absolutely.
Check out one of my drop shipping stores.
4. Build An Amazon FBA Business
Have you ever wanted to sell your own product? Well you can with Amazon FBA (Fulfilled by Amazon). Essentially you would purchase a product in bulk and Amazon takes care of everything else. Amazon will pick, package and ship your products to consumers all over the globe.
Amazon is the world’s largest online retailer, with a buzzing marketplace, so it is no surprise that people choose to sell their products on Amazon.
Now does this mean you should rush out and go purchase a bunch of product? NO! You need to do sound market research to determine what product would have the best chance of selling on Amazon. If you ignore this foundational step, you will end up with a ton of product that doesn’t sell. I have heard countless stories from people who have product sitting in their basement that didn’t sell.
5. Create Education Courses
Last, but certainly not least, is content creation. If you have a kick ass program to sell, Udemy is a great place to showcase it and bring in sales passively.
Many of my clients who run service based businesses have so much content and have no clue what to do with it all. Why not package it up and sell it? Yes, Udemy is highly competitive but that does not mean you cannot make income with this platform.
The key to making this a success is creating quality programs that offer enormous value, in areas people are seeking guidance. It doesn’t matter if you’re a health coach, spanish teacher or lawyer you can sell content on Udemy successfully.
So there you go! 5 ways to make money online.
Just remember that whatever route you decide to embark on, you must take your time with the process. Do not skip the foundational steps as this will have a huge impact on your results, or lack of results.
If you’re like me and want to cut your learning curve in half and set yourself up on the right path, I suggest you hire someone who can give you solid guidance. Investing in a mentor was the best thing that I did in my business. Not only did I see results in a short period of time, but I felt supported in each step I took.