The internet has transformed the way we do business. It has opened up borders and removed limitations on what you can do and achieve based geographical regions or financial resources. With a computer, an internet connection, and personal drive, there is little that can stand in the way of you making an income online.
There is no shortage of clever ways to make an online income. Please note it takes patience, persistence, failures, and hard work to build a successful online venture. There are no get-rich-quick schemes. Most quick ways to an online income are shortcuts that do not last or pan out to be scams. You have to put in time, effort, blood, sweat, and tears to be successful.
Let’s dive in and explore the ten modern ways to make money online.
Blogs are informational websites where writers share their views on subjects of their choice. There are many profitable niches one can blog about. Photography, health, fitness, career, fashion, gardening, and finance are some of the examples. You can monetize your blog by:
- Selling private ads and sponsored posts
- Placing ads on your site. The ads are informed of Cost Per Click (CPC) or CPM (Cost per 1,000 impressions). In the case of CPC, you are paid for the ad-click when readers click on click on them while you will be paid for the number of people who have viewed your ads in case of CPM. If this is your preferred method of monetization, you may consider using Google Adsense.
- Affiliate Marketing: In this case, you can blog about an advertiser’s product, and they pay you a commission for every sale that came from your website. ClickBank is a sure platform for monetizing your blog with affiliate marketing.
2) Freelance Web Development, Design, and Maintenance
You got the skills. You have learned HTML and CSS. You have already trained in PHP. Python and MySQL. You can be your own boss. It is challenging starting out as a freelancer. You will need to be disciplined and strict with yourself. But, the benefits are immense. You can set flexible working hours, rate of pay, and be your own boss. Also, you choose to work on interesting projects and have a better life-work balance. Another reason you may want to consider becoming a freelance developer is there is a huge shortage of developers worldwide, and contract salaries are high.
3) Offer Digital Marketing Services
There are people and individuals willing to pay for your services if you have the skills to promote their products and services using the internet. Some popular types of digital marketing include:
- Search Engine Marketing (SEM)
- Social Media Marketing (SMM)
- Search Engine Optimization (SEO)
- Email Marketing
- Online advertising (Google Ads and Facebook Ads)
- Influencer Marketing.
4) Record a Podcast
People are getting busier each day and consequently, are looking for passive ways to consume content. This is the reason podcasts are a craze at the moment, presenting you a great opportunity to build an audience and generate money.
5) Flipping Websites, Domain Names, and Mobile Apps
There is a thriving online marketplace for selling and buying of websites, a practice that is also known as flipping. The same is true for domain names and mobile apps flipping. Websites and mobile apps have become critical tools in communication and eCommerce, and people are looking at them more and more as serious sources of income.
Through flipping, people have sold their valuable apps, websites, and domain names from hundreds of millions to tens of billions. Flippa.com and EmpireFlippers.com are some of the platforms you can use to sell your digital assets. The domain name and mobile apps are also sold on these platforms.
6) Do Graphic Design For Local and Online Businesses
If you have a creative mindset and motivation, you can help businesses create their brands and make money in the process. Tools such as Visme, Venngage, Stencil, and Adobe Illustrator are becoming increasingly easy-to-use, and any creative can make money by being a graphic designer for local companies. You can also sell your designs on marketplaces such as 99Designs.com, Dribble, and Behance.net
7) Sell Stock Photos
Stock photography is the supply of photographs of commonplaces, people, landmarks, nature, events, etc. often licensed for specific uses on a royalty-free basis and can be used and reused for commercial purposes. Here are five websites you can use to sell your stock photos and make money online.
- Adobe Stock
8) Write and Sell eBooks
Did you know you can make good money online by packaging your knowledge into a downloadable Book that helps people start a business, learn a new skill, or even advance their careers? You can sell your eBook on Amazon. Amazon self-publishing gives you access to their massive audience to sell your book. They will take 30% as their fee and leave the remainder for you.
9) Launch an informative and entertaining YouTube channel
With more than 5 billion videos being watched every day, YouTube is the largest video hosting website in the world. It is the second largest search engine with a majority of its users coming to be informed and entertained. You can launch your own channel and start monetizing with ads once you hit the 1000subs/4000hr of view time. With every 1000 views, you can make from Sh200-400. If you have 50 videos getting 10,000 views per month, then that would translate to Sh100,000 – 200,000 in monetary gains.
eCommerce is the selling and buying of goods and services over the internet. The industry is booming, and the easiest way you can start is via dropshipping. This is a fulfillment method where a store does not keep an inventory of the items it sells but instead purchases it from a third party supplier who ships the item directly to the customer. The store owner does not see or handle the product. This model of eCommerce requires less capital to start, and you only need a laptop and connection to the internet. There are many resources, such as eComProo.com and Shopify, that can help you get started.