The temptation to make money online is common these days, particularly when you read so many success stories about various people achieving financial independence.
Now, just because other people are making money on the internet, it does not mean that you will have an easy time doing the same. On the other hand, getting discouraged by hardships should not be a thing to prevent you from pursuing the goal either.
Establishing a profitable business idea takes time. Sure, some are less challenging than others, but before you start, you need to understand that, for the most part, you should not expect to get rich quickly.
It is about finding a method and slowly working on learning how you can improve and increase the results. Below, you will find 4 suggestions that are worth considering if you want to make money online.
Sell Custom Merchandise
Let’s start with custom merchandise. There are two approaches to this method. The first is to learn graphic design and come up with product ideas yourself. The second is to collaborate with a professional designer, which would leave you more time to focus on marketing and customer service.
The beauty of custom merchandise is that you do not have to worry about overspending on inventory and manufacturing equipment. No, instead, you can find a reliable supplier and not follow the dropshipping business model.
As for what merchandise you should sell, there are various options. Some focus on t-shirts and hoodies. Others pick a more niche market and sell personalized wine tumblers on Etsy, for example.
Ideally, you want to scale the business down the line and introduce new products. Early on, though, focus on a specific niche, unique designs, and promoting the goods to your targeted demographic.
Start a YouTube Channel
YouTube is undoubtedly the most popular video platform on the internet. Some argue that the site is too saturated, and new content creators find it quite difficult to break through.
Monetization is also not as easy due to YouTube’s algorithm and changes to the ad policy. However, if you are set on a long-term idea, then creating videos and uploading them to YouTube is a solid choice because the platform is very unlikely to go away.
If you manage to grow your channel, you can look to explore different monetization methods, such as crowdfunding platforms and influencing.
Also, one other thing to note about YouTube is that even if you struggle to make money on the site, your efforts will not go to waste because you get to learn video editing—a skill that is in high demand these days.
Stream on Twitch TV
Streaming on Twitch TV is another popular method, particularly among younger demographics. However, the issue with this method is similar to the YouTube idea because of how saturated the platform is.
Top streamers make bank but breaking through as a newbie is hard. You want to have an entertaining personality and charm.
It helps a lot if you come to Twitch TV while already having an audience established somewhere else. For example, social media.
Donations from viewers, subscriptions, promotional ad streams, bits, and various collaborations are the most popular monetization methods on stream.
If you were to ask streamers why they are successful, some would tell you that it was luck. On the other hand, a majority will also reveal that you need to be consistent, i.e., have a schedule, so your audience knows when to expect you to go live.
Write a Blog
Blogging is one of the oldest methods of making money online. It is no secret that some bloggers treat their platforms as a means of expression and are not too bothered with monetization.
Others, meanwhile, are focusing on driving as much traffic via social media, pay-per-click ads, search engine optimization, and other sources.
You need to decide whether you are willing to sacrifice content quality and publish more articles with the hopes of quantity leading to more readers.
In case you want to take a different approach and focus on content quality, expect that the blog will grow slower. At the same time, it would also open more opportunities in the future because you chose quality.
Not only will you get to polish your writing skills, but you can also expect to see other bloggers and various marketers looking to publish paid guest content or insert links because you have integrity and prefer quality over quantity.
Besides the aforementioned guest posting, some other blog monetization methods include:
- Digital product promotion
- Ad networks
- Affiliate links
- Crowdfunding platforms
Keep in mind, however, that, like with other methods, a blog itself will not generate income without an audience. You will need to work hard on promoting the website and establish a regular audience while also working on attracting new readers.