Ways to Make Money Online
- Mav
- Posts: 246 | Thanks: 171
- Joined: Fri Jun 12, 2020 10:46 pm
- Name: Mason
- Goal: Level Up
- Age: 32
- Motto: There Is No Tomorrow
- Location: Florida
A big one right now is providing services for Amazon sellers, such as PPC or listing/account management. Two friends of mine were both making six figures with it before covid. It has died down a bit for now, until things return to normal. And now Walmart/Target are stepping into the 3rd party seller game. I keep debating between doing this or going back to school.
- Mav
- Posts: 246 | Thanks: 171
- Joined: Fri Jun 12, 2020 10:46 pm
- Name: Mason
- Goal: Level Up
- Age: 32
- Motto: There Is No Tomorrow
- Location: Florida
Basically create a professional looking website and figure out what service you're going to offer. My friends do strictly PPC... but there are a lot of things one could offer. I'd say start off providing the service at a low rate to gain the experience and increase from there. They found a lot of their customer base from FB groups and Amazon. They even did ppc ads for Dr Axe, if you've ever heard of him. I'd give you their site, but out of respect to them, I can't.chado wrote: ↑Thu Jul 09, 2020 4:41 pmHow does one get into this?Mav wrote: ↑Thu Jul 09, 2020 3:31 pmA big one right now is providing services for Amazon sellers, such as PPC or listing/account management. Two friends of mine were both making six figures with it before covid. It has died down a bit for now, until things return to normal. And now Walmart/Target are stepping into the 3rd party seller game. I keep debating between doing this or going back to school.
- AGF
- Posts: 172 | Thanks: 135
- Joined: Tue Jun 09, 2020 7:37 am
- Goal: $1,000,000 until 2025
- Age: 28
The easiest and least risky way to make money online is missing: providing a valuable service to other businesses. This can be SEO, web design, Google ads, Facebook Ads, Amazon PPC, Social Media account management, etc.
+ no upfront investment needed
+ can make 1k online within a few weeks, 5k within a year (= much faster cashflow than blogging, social media influencer, Youtubing, writing e-books, etc.)
+ all you need is one skill + sales skills
+ no office or employees needed. You literally have less than $100 in monthly expenses
+ no dealing with customs, Chinese manufacturers, annoying customers or all the other hassles that come with an e-commerce business
+ not much traffic needed (= don't have to spend money on ads or build up your Google or Amazon ranking for years)
+ immediate cashflow
+ 100% location-independent, so you can use geo-arbitrage to increase your purchasing power even if your income stays the same. That allows you to go full-time as fast as possible (e.g. moving to Southeast Asia allows you to pursue your business full-time even if you're making only 2k/month from it). The sooner you go full-time, the faster you can grow your business.
You just need to make sure that the skill you want to sell is in high demand. This is usually the case if:
* your work has a direct impact on the bottom line of your clients and you can prove that to your clients
* your clients need you every month so you can put them on a retainer (that way you don't have to find new clients every month)
* the skill is so valuable, that you can charge at least $500 per month for it (even better would be $2,000 per month)
In order to start this business, you need to:
1) learn ONE of those high-income skills and become really good at it (this is the hardest part)
2) zoom in on ONE target (your dream client) and solve ONE urgent problem for them with ONE service
3) find out how to get in touch with them
4) sell them on your service
5) deliver on your promise and make them happy
6) create case studies
7) use case studies to get more clients
8) broaden your target group or offer additional services if it makes sense
If you don't have any high-income skill yet, I recommend starting with social media management. That means you basically manage the Facebook and Instagram pages of local businesses. This doesn't require much skill if you use Canva.com for it. Even though it doesn't directly impact the bottom-line of your clients, it is still an easy service to sell because most traditional businesses are complete noobs when it comes to Social Media and $500 or $1,000 per month is not much money for them (even a part-time cleaning lady would cost them more than $1000 per month, just to give you some perspective). Do that for a few months and then ask clients if they also want to try paid advertising. Then you can learn Google Adwords or Facebook Ads with your client's money and slowly transition into that.
+ no upfront investment needed
+ can make 1k online within a few weeks, 5k within a year (= much faster cashflow than blogging, social media influencer, Youtubing, writing e-books, etc.)
+ all you need is one skill + sales skills
+ no office or employees needed. You literally have less than $100 in monthly expenses
+ no dealing with customs, Chinese manufacturers, annoying customers or all the other hassles that come with an e-commerce business
+ not much traffic needed (= don't have to spend money on ads or build up your Google or Amazon ranking for years)
+ immediate cashflow
+ 100% location-independent, so you can use geo-arbitrage to increase your purchasing power even if your income stays the same. That allows you to go full-time as fast as possible (e.g. moving to Southeast Asia allows you to pursue your business full-time even if you're making only 2k/month from it). The sooner you go full-time, the faster you can grow your business.
You just need to make sure that the skill you want to sell is in high demand. This is usually the case if:
* your work has a direct impact on the bottom line of your clients and you can prove that to your clients
* your clients need you every month so you can put them on a retainer (that way you don't have to find new clients every month)
* the skill is so valuable, that you can charge at least $500 per month for it (even better would be $2,000 per month)
In order to start this business, you need to:
1) learn ONE of those high-income skills and become really good at it (this is the hardest part)
2) zoom in on ONE target (your dream client) and solve ONE urgent problem for them with ONE service
3) find out how to get in touch with them
4) sell them on your service
5) deliver on your promise and make them happy
6) create case studies
7) use case studies to get more clients
8) broaden your target group or offer additional services if it makes sense
If you don't have any high-income skill yet, I recommend starting with social media management. That means you basically manage the Facebook and Instagram pages of local businesses. This doesn't require much skill if you use Canva.com for it. Even though it doesn't directly impact the bottom-line of your clients, it is still an easy service to sell because most traditional businesses are complete noobs when it comes to Social Media and $500 or $1,000 per month is not much money for them (even a part-time cleaning lady would cost them more than $1000 per month, just to give you some perspective). Do that for a few months and then ask clients if they also want to try paid advertising. Then you can learn Google Adwords or Facebook Ads with your client's money and slowly transition into that.
Last edited by AGF on Thu Jul 09, 2020 5:38 pm, edited 6 times in total.
- AGF
- Posts: 172 | Thanks: 135
- Joined: Tue Jun 09, 2020 7:37 am
- Goal: $1,000,000 until 2025
- Age: 28
Here are my comments on the ways @KillYourInnerLoser presented:
1. Sell your skills on Fiverr.
Good way to start, but very hard to make serious money. It's basically the business model I suggested but most people on Fiverr don't offer high-income skills but rather commoditized skills. If you do go the Fiverr route, try to sell a service that takes less than 1h for you to do and that can be sold for at least $50. That way, you can scale your Fiverr income to $5,000 per month without working full-time on it. I did Wordpress website optimization for a while and that worked great.
2. Write an ebook or two.
Very hard to make serious money but it's a good way to "taste blood" for the first time. I made my first $ online with an ebook that I sold on Amazon.
3. Do Skype coaching on a topic you’re knowledgeable.
Good way to make some money but it depends a lot on the skill / topic you are teaching. Also difficult to find a steady stream of customers. Since those coachings are usually on the lower end (like $100/h) you'll have to find a lot of customers to make a full-time income from it.
4. Write a blog like mine.
Already mentioned somewhere else that this is the worst business model to make money because it takes forever to make only a few hundred dollars online. That's time that could be better spent on other business models. Unless you are ultra-passionate about the topic you are blogging about and money is not important to you, don't start a blog. Having said that, those that are successful with their blog are making shitloads of money, most of it will even be passive.
5. Set up an online store selling [insert almost any product you could think of here].
This is one of the most complex business models. Huge potential but not recommended for beginners because it has a lot of moving parts and requires serious cash investment upfront. Even if you're dropshipping - which makes you a scammer in my opinion - you'll have to drop a few k's on ads. Don't let all the juicy Shopify screenshot cloud your thinking.
6. Write posts on Medium.
No experience with that and how profitable this can be
7. Stream on Twitch.
No experience with that and how profitable this can be
9. Narrate books on Audible.
No experience with that and how profitable this can be. I imagine it can be quite difficult to get any deals and it probably depends a lot on your voice.
10. Start a website where you do product reviews.
Very similar to blogging. Most niches are saturated (you have to rank high on Google in order for this business model to work) and even if you build up a solid niche site, it's not gonna make you huge money. It is passive income though, which can be nice.
11. Post about your sexual encounters.
Same as niche sites / blogging
12. Write and sell erotic novels on Amazon.
See 2) E-Books
13. Start your own YouTube channel.
Also very similar to blogging. Depends a lot on your niche. Some niches are not yet saturated on Youtube, others are extremely saturated (e.g. Fitness)
14. Be a social media influencer.
Also very similar to blogging. Takes ages to build up your profile and then you won't make much money from it unless you get sponsored or start selling your own physical products (which requires at least $20,000 I would say) or digital products.
1. Sell your skills on Fiverr.
Good way to start, but very hard to make serious money. It's basically the business model I suggested but most people on Fiverr don't offer high-income skills but rather commoditized skills. If you do go the Fiverr route, try to sell a service that takes less than 1h for you to do and that can be sold for at least $50. That way, you can scale your Fiverr income to $5,000 per month without working full-time on it. I did Wordpress website optimization for a while and that worked great.
2. Write an ebook or two.
Very hard to make serious money but it's a good way to "taste blood" for the first time. I made my first $ online with an ebook that I sold on Amazon.
3. Do Skype coaching on a topic you’re knowledgeable.
Good way to make some money but it depends a lot on the skill / topic you are teaching. Also difficult to find a steady stream of customers. Since those coachings are usually on the lower end (like $100/h) you'll have to find a lot of customers to make a full-time income from it.
4. Write a blog like mine.
Already mentioned somewhere else that this is the worst business model to make money because it takes forever to make only a few hundred dollars online. That's time that could be better spent on other business models. Unless you are ultra-passionate about the topic you are blogging about and money is not important to you, don't start a blog. Having said that, those that are successful with their blog are making shitloads of money, most of it will even be passive.
5. Set up an online store selling [insert almost any product you could think of here].
This is one of the most complex business models. Huge potential but not recommended for beginners because it has a lot of moving parts and requires serious cash investment upfront. Even if you're dropshipping - which makes you a scammer in my opinion - you'll have to drop a few k's on ads. Don't let all the juicy Shopify screenshot cloud your thinking.
6. Write posts on Medium.
No experience with that and how profitable this can be
7. Stream on Twitch.
No experience with that and how profitable this can be
9. Narrate books on Audible.
No experience with that and how profitable this can be. I imagine it can be quite difficult to get any deals and it probably depends a lot on your voice.
10. Start a website where you do product reviews.
Very similar to blogging. Most niches are saturated (you have to rank high on Google in order for this business model to work) and even if you build up a solid niche site, it's not gonna make you huge money. It is passive income though, which can be nice.
11. Post about your sexual encounters.
Same as niche sites / blogging
12. Write and sell erotic novels on Amazon.
See 2) E-Books
13. Start your own YouTube channel.
Also very similar to blogging. Depends a lot on your niche. Some niches are not yet saturated on Youtube, others are extremely saturated (e.g. Fitness)
14. Be a social media influencer.
Also very similar to blogging. Takes ages to build up your profile and then you won't make much money from it unless you get sponsored or start selling your own physical products (which requires at least $20,000 I would say) or digital products.
Last edited by AGF on Thu Jul 09, 2020 5:40 pm, edited 1 time in total.
- terry_crews87
- Posts: 62 | Thanks: 49
- Joined: Mon Jun 29, 2020 8:38 pm
- Goal: get laid/online dating
- Age: 33
- Motto: sucess is positive action every day
AGF all your posts are awesome , were luckky to have you here!
- AGF
- Posts: 172 | Thanks: 135
- Joined: Tue Jun 09, 2020 7:37 am
- Goal: $1,000,000 until 2025
- Age: 28
Thanks, I appreciate it. If you or others have specific questions about online business (or business in general), I am always happy to help. Just post your questions here or in my thread.terry_crews87 wrote: ↑Thu Jul 09, 2020 5:34 pmAGF all your posts are awesome , were luckky to have you here!
- Forticks
- Posts: 28 | Thanks: 12
- Joined: Sat Jun 20, 2020 10:16 pm
- Name: Andrew
- Goal: Build Power, Get Laid
- Age: 20
- Location: United States
I will have to look into affiliate marketing and managing social media. Right now I'm doing market research for an FBA business and if it doesn't pan out these are solid alternatives.
Early 20s guy living in the US. I want to have an awesome live.
Goals:
Practice spanish daily
1/2 hour practicing guitar per day
1/2 hour reading per day
Do a home workout every other day while maintaining a deficit
Goals:
Practice spanish daily
1/2 hour practicing guitar per day
1/2 hour reading per day
Do a home workout every other day while maintaining a deficit
- AGF
- Posts: 172 | Thanks: 135
- Joined: Tue Jun 09, 2020 7:37 am
- Goal: $1,000,000 until 2025
- Age: 28
Oh yeah, I forgot about affiliate marketing. There are two types of affiliate marketing:
1) the way Andy is doing it. So basically building a website / blog / niche site / social media presence and then promoting affiliate products you actually use. You need massive reach to make a full-time income from that. It can take years to get to that point, so it's not something I would recommend if you are looking to make a full-time income fast. It can be used for a nice passive income though.
2) drive paid traffic to lucrative (sometimes even shady) affiliate offers (e.g. those popups and banner ads you see on porn sites). That's what the pros are doing and there is insane money in that. The best affiliate marketers make six figures in profit per month. Check out stmforum.com for more information. The big drawback here is that you need to be willing to burn a few thousand dollars on paid traffic. The way I understand it, it is not easy to learn how to master this business model because the paid traffic sources can vary a lot and you need to test many different affiliate offers until you find a winner. I would only recommend it if you're an analytical person and have the necessary budget to learn it.
For those who don't bother if they make money online or offline, I also highly recommend doing local service-based businesses. Like Gravytrain and BadIdeaBear (from GLL forum) are doing. Service businesses are the best for newbies because:
+ they require very little fixed costs (fixed costs are what kills businesses if you have one or two bad months)
+ are pretty simple (you don't need to come up with an innovative idea)
+ provide a fast cashflow
+ sometimes even don't require difficult skills (e.g. anyone can learn how to use pressure washers and start a pressure washing business)
- Mr Available
- Posts: 68 | Thanks: 17
- Joined: Sat Nov 28, 2020 2:51 pm
- Goal: Get Laid
- Age: 24
This is a really good post. I can't get into details but I'm doing something along the lines of this next year.
I've been selling items in a subject I have deep expertise in for nearly a year. Think sales on Ebay.
What I learned from this project:
The workflow is very easy. Post a listing, have pictures, ship the items, answer customer questions, and give feedback.
It's hard to make sales. I never messed with ads and while I have tried shooting videos for my project I can't get views. I've also posted those videos on forums and still can't get views. My margins are low and fees eat into my profits. I also get a lot of dumb questions that I have to ignore. I'm very lucky I never had any crazy customers pull any return scams on me.
I didn't set any goals for this project, I just wanted to do it. I'm not quitting as I've already spent money on equipment and I'm trying to tie this business with the business I'm starting up next year. Maybe I can get some B2B customers from selling B2C. This business essentially served as a squeeze page for my real business.
I never compared myself to others when I was doing this. I think this is the number 1 mistake people make when learning anything. With this out of the way when you're not hitting 1K per month after nearly a year I should have maybe looked around to see what other businesses are pulling in 1K per month. My metric was <$200 per month.
I like to remind myself that there's a mountain of money out there with my name on it I just have to work for it. Working for yourself is hard, I think most people should start working jobs before they become business owners. I wouldn't have pulled off what I did years ago.
Do me a solid and rate my online pictures please:
viewtopic.php?f=40&t=425&p=7030#p7030
viewtopic.php?f=40&t=425&p=7030#p7030
-
- Posts: 6 | Thanks: 2
- Joined: Thu Mar 11, 2021 1:03 pm
- Goal: Get Laid
- Age: 21
- Motto: I don’t have problems, I just have more work to do
Do you think that front-end development would be a good skill to learn?
I'm finishing my degree in Aerospace Engineering but I'm thinking about switching careers and jumping into web development (self taught).
If anyone has experience doing this I would appreciate any comments.
- SIGMA_1234
- Posts: 951 | Thanks: 328
- Joined: Tue Jun 02, 2020 9:13 am
- Goal: Digital Nomad Income
- Age: 28
- Motto: Action > Perfection
I do this in some form today, just a little less emphasis on the coding aspect but more of the marketing side of things. I will tell you this: there is no shortage of front-end devs in the world, especially with lowballers in Upwork & Fiverr from India, Bangladesh. & similar countries.
So, my advice is to learn something, then get acquainted with selling, too. Because front-end dev is not as lucrative as it is anymore because lots of people can do it. You should be able to convince why you're a good hire over some cheap dev in Fiverr or Upwork.
Nerd Turned Model
Aspiring Digital Nomad
Follow my lifestyle journey log
Follow my business journey log
$ Goals:
-) US$3k/ mo nomad income
-) US$10k/ mo nomad income
Aspiring Digital Nomad
Follow my lifestyle journey log
Follow my business journey log
$ Goals:
-) US$3k/ mo nomad income
-) US$10k/ mo nomad income
- AGF
- Posts: 172 | Thanks: 135
- Joined: Tue Jun 09, 2020 7:37 am
- Goal: $1,000,000 until 2025
- Age: 28
If you want to start your own business, it is definitely a good skill to learn. However, you want to do it the right way. You need to consider two things:JV12 wrote: ↑Sun Mar 14, 2021 11:05 pmDo you think that front-end development would be a good skill to learn?
I'm finishing my degree in Aerospace Engineering but I'm thinking about switching careers and jumping into web development (self taught).
If anyone has experience doing this I would appreciate any comments.
1) how exactly do you create value?
2) how can you maximize that value while minimizing your work input
Example:
learning real front-end development (different coding languages etc.) requires a lot of work and is quite complex. Your input is very high, it probably takes years until you are really good. If the value you're providing to your clients is simply a better, more efficient, more profitable website, the very high input is in no relation to the value you're creating. Or in other words: you could create the same value / result with a simple Wordpress website which takes much less time to learn how to do it.
If - on the other hand - you are learning front-end-development to build your own project that requires more complex coding and cannot be done with Wordpress, it might be worth it to learn front-end-development. Or if you somehow manage to get into circles where you can easily get clients who have a high demand for front-end-developing, it might also pay off very well. But like SIGMA said, there are many affordable freelancers on Fiverr who can already code relatively well. And from my experience, it is much easier to get clients who simply need a new website than any clients with more complex needs. In any case, you definitely need sales and marketing skills.
-
- Posts: 6 | Thanks: 2
- Joined: Thu Mar 11, 2021 1:03 pm
- Goal: Get Laid
- Age: 21
- Motto: I don’t have problems, I just have more work to do
Do you work as a freelancer or for a company?SIGMA_1234 wrote: ↑Mon Mar 15, 2021 12:41 amI do this in some form today, just a little less emphasis on the coding aspect but more of the marketing side of things.
The problem is that I know nothing about business and I'm not sure that I want to go down that road. Right now I can't think of any skill that someone would pay me for besides from getting hired by a company for doing something related to my degree.
I hadn't thought about that. Maybe front-end development is not the best option then.AGF wrote: ↑Mon Mar 15, 2021 6:03 amlearning real front-end development (different coding languages etc.) requires a lot of work and is quite complex. Your input is very high, it probably takes years until you are really good. If the value you're providing to your clients is simply a better, more efficient, more profitable website, the very high input is in no relation to the value you're creating. Or in other words: you could create the same value / result with a simple Wordpress website which takes much less time to learn how to do it.
I will think more about this and see which option is better for both getting hired and freelancing or making a business so I can cover all possibilities.
Thank you for your comments guys!
- AGF
- Posts: 172 | Thanks: 135
- Joined: Tue Jun 09, 2020 7:37 am
- Goal: $1,000,000 until 2025
- Age: 28
You either go down that road and learn about business or you completely focus on getting a job and just stick to that for the rest of your life. There is no freelancing without knowing anything about business, marketing and sales.