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How to make money online

How to make money online

By WRITTERPublished 12 months ago 6 min read
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How to make money online
Photo by Pepi Stojanovski on Unsplash

The ideas within this section are for those looking to make money in a long term, sustainable way. These businesses will require effort and passion to pay off, but they are also some of the most rewarding and fulfilling ways to start making extra money online.

1. Develop and sell a unique product

When you think of most direct-to-consumer brands, this is what comes to mind: original products that make meaningful improvements to well-known items. You too can develop and manufacture a unique product to sell. Consider designing a prototype for a product that solves a common problem then finding a manufacturer to create it.

Startup time: Several months from design to prototype to manufacturing.

Effort level: High to start. Medium ongoing effort to maintain.

Time to first payment: After you sell a product, expect a wait period of around five days to receive funds in your bank account on most platforms.

What to know:

Manufacturing domestically means you have more control over quality and sustainability, but your costs may be higher.

Research manufacturers carefully to find the right fit for your product and brand.

Be sure to consider labeling laws in every region where you plan to sell.

Requirements:

Most ecommerce platforms require that you are at least 18 years of age.

Requirements vary by country and region, but some products may require you to have licenses, permits, or certifications.

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2. Create and sell handmade or custom products

Woman sits at sewing machine making a garmentMaking products by hand is a great way to turn a hobby or passion into a business. You are already an expert at your craft—why not sell your work? Or, explore a new hobby and learn a hands-on skill that you can monetize. Hand-making goods gives you full control over product development and quality, but can be time consuming. Also consider allowing customers to customize each order to their specifications. This is called bespoke, or one of a kind (OOAK).

Startup time: It will take just an hour or two to set up your ecommerce store

Effort level: Depends on whether you already produce goods. High effort to maintain.

Time to first payment: After you sell a product, expect a wait period of around five days to receive funds on most platforms.

What to know:

While this is a rewarding small business idea, scaling this model is challenging. To grow, consider bringing on other artists you can train.

Requirements:

Most ecommerce platforms require that you are at least 18 years of age.

Requirements vary by country and region, but some products may require you to have licenses, permits, or certifications.

👓 Success Story: How a Crafter Scaled Her Eyewear Business

Kerin Rose Gold started designing her own sunglasses before being spotted by top celebs. Now she employs other artists as she grows her brand, A-Morir.

3. Sell digital products

Selling digital products is a great way to earn cash with low ongoing effort and cost. These products include guides, ebooks, templates, music samples, plans, printables, and tutorials that can be delivered digitally, in formats like PDF or via log-in access to a portal. This is a great option for creatives looking to sell music or sell art online.

Another example of digital content is recipes and meal plans. Food blogger Lauren Fit Foodie sells this content to her audience through Instagram.

Startup time: Once the asset is created, it takes a couple hours to get up and running online.

Effort level: Medium to high, depending on product and ability to grow a customer base. Low effort to maintain.

Time to first payment: After you sell a product, expect a wait period of around five days to receive funds on most platforms.

What to know:

Digital goods are scalable, with no limit to the number of times you can sell the same asset.

If you want to license your product or use licensed materials, be sure to consult with a lawyer or research licencing laws.

Requirements:

An ecommerce online platform.

A digital delivery app from the Shopify App Store.

4. Become a reseller

Woman sits on a bed packing boxesReselling existing products can take a number of forms. Whether you buy and resell vintage or collectible items or become a certified distributor of a brand in a specific region, you can start selling products without making any of your own. Another option is to curate products from other brands through your own ecommerce store—say your favorite skin care products for problem skin.

💡 Tip: This model assumes you will be carrying and managing inventory. For a lower-investment option, jump ahead to dropshipping.

Startup time: Varies depending on what you plan to resell.

Effort to start: Low to medium, as you don’t need to create your own products

Time to first payment: After you sell a product, expect a wait period of around five days to receive funds on most platforms.

What to know:

You can find brands to resell by consulting wholesale directories or simply reaching out.

AliExpress is another option for finding generic trending products to sell under your own brand. These can even sometimes be customized and considered white label products.

Requirements:

An online platform to sell your products.

In some cases, you may sign contracts with brands in order to resell.

5. Monetize a blog

While many businesses use blogs to help drive traffic to their products, did you know that you can make money online with a blog alone? You can monetize a blog in a number of ways, including selling ads, using affiliate links, writing sponsored posts in partnership with a brand, or selling merch or custom products to an audience.

Startup time: A few hours.

Effort to start: Medium to start, but it will take a lot of effort to maintain.

Time to first payment: Varies depending on how you are monetizing your blog.

What to know:

While blogging can be a low-investment, small business idea, it can take time to pay off.

Use SEO practices to drive organic traffic and read about more ways to monetize a blog.

Requirements:

A blogging platform.

An interest or skill you want to write about—consider a topic where you can bring a unique perspective and offer value to readers.

🎈 Success Story: This DIY Blogger Monetized her Following

Jordan Ferney started Oh Happy Day as a blog first, eventually opening her own online party supply store once she built a massive audience.

6. Create online courses and workshops

Woman does an upward dog yoga pose on a matOnline workshops and courses are another form of digital product that you can create to earn income from your expertise. This is a great idea if you are a subject matter expert on a topic people are willing to learn. Selling online courses is made easier using a course platform or your own website. A digital delivery or course app can be installed in your Shopify store to help sell courses online.

Startup time: It can take weeks or even months to write, shoot, and edit an online course.

Effort level: Very high to start. Medium effort to maintain.

Time to first payment: Varies, depending on your course and platform’s payment structure.

What to know:

Research your competition: What value can you create beyond what’s already available online?

Use free gated content to build your customer list and give potential customers a sample of your offering.

Live elements like instructor office hours or exclusive Q&A sessions help sell your course.

Requirements:

Audio and video equipment and editing software.

A platform to sell and deliver course content.

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