7 Ways To Earn Money online

7 Ways To Earn Money Online: Are All Of Them Realistic?

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Everyone is looking for ways to earn money online. There are many possible ways to earn money online but are all of them realistic? Let’s take a look at a few ways and see if they can really fetch you money. I will give my opinion about each of them after explaining it.

7. Online Survey

There are many survey sites that pay people to take the survey. There are a few survey aggregators too who collect such surveys and pay their members to answer those surveys. In return, they take a fixed monthly fee from the members.

Members get paid from $0.50 to $2-$5 per survey. The higher-paying surveys take more time (sometimes over an hour). If you take 10 high paying surveys per day then at max you can make $50 per day.

The challenge is that there are not many high paying surveys always. Sometimes, even the low paying surveys are not available either.

All in all, avoid this way of earning money online.

  • Realistic?: No
  • Investment Needed?: No (or very little investment)
  • The fast way?: No
  • Earning Potential: Very low
  • Recommended?: No

6. MLM

MLM stands for multilevel marketing. MLM is purchasing a product and making others to purchase a product. Depending on how many people you make join the program (and those people make others join the program and so on) your commission gets decided.

Multi level marketing

People keep purchasing products and making new people purchase the product every month and you keep getting % from each of these sales.

In short, MLMs are pyramid schemes and 90% of them are illegal. If you are planning to join an MLM company, make sure to check for any lawsuits against the company.

  • Realistic?: Yes
  • Investment Needed?: Yes (mid to high)
  • Fast?: Yes (if you can make people join the program and they add people under them and these new people again add members and so on).
  • Earning Potential: High
  • Recommended?: No, unless you are an expert in networking and convincing people to join and find really a legal MLM company with great products.

5. Dropshipping

In dropshipping, you bag the difference between the retail price of the product and the actual purchase price for you. Just like the brick and mortar businesses. The only difference is that you don’t need to worry about keeping the inventory of the products. You don’t need to worry about shipping, handling, and returns of the products. Just find a vendor (Usually from china) who can fulfill the order for you. There is no minimum quantity to order.

dropshipping flowThe main challenge here is finding a reputable vendor and one or more winning products that will sale like a hotcake. Another challenge is to keep the product prices, quantity in sync with your vendor’s product prices, and inventory. Thankfully, there are tools like oberlo, dropshiply to help you with that.

However, the competition in dropshipping is fierce but if you stick to it this is a great way of earning money. I wouldn’t really recommend it fo the newbies though. If you have experience in digital marketing then you can think about getting into dropshipping.

  • Realistic?: Yes
  • Investment Needed?: Yes (Low)
  • Fast?: Maybe, if you know how to run paid ads effectively.
  • Earning Potential: High to very high
  • Recommended?: Yes

4. Ad Revenue

There are people who create websites just for earning the revenue from Google Adsense (or other channels like adsterra, lockerdome etc). The sole purpose of these sites is to earn from the website. Keep posting on the trending topic once or twice a day and earn from the ads shown to the visitors.

These websites don’t really sell anything. The content created is usually from the entertainment point of view, for eg. funny quotes, memes. It gets shared easily and some content becomes viral.

Viral content keeps bringing the traffic. Some low CPC ads may need to be run initially to make the content viral. Once a few thousand visitors start visiting the website regularly the ad revenue becomes regular.

This is more like a passive stream of income once the website becomes popular.

  • Realistic?: Yes
  • Investment Needed?: Yes (Low)
  • Fast?: No
  • Earning Potential: Medium
  • Recommended?: Yes (for side income)

3. Freelancing

If you are talented then you can sell your talent and earn. If you can write then write for others and earn. If you can edit photos and videos then edit photos/videos of others to earn. If you are good at organizing things then you can become a virtual assistant.

The best part about freelancing is that there are no long term contracts. Take the job, fulfill it, earn and you are done. Depending on your bandwidth you can take multiple jobs from multiple people and increase your earning. You get to set your price based on your skill level and experience.

If you give quality service then you get hired again and again. There are many networks like Upwork, Fiverr, freelancer where you can register yourself. These networks will take a small commission from your earning and promote your talent.

  • Realistic?: Yes
  • Investment Needed?: No
  • Fast?: No. It takes time to build a reputable portfolio
  • Earning Potential: Medium to High
  • Recommended?: Yes

2. Sell Your Own Products/Services

If you have your own products or services then you can create your own brand and start selling. This method can also be an extension for freelancers in #3 where they can launch their independent services and keep 100% profits instead of sharing them with Upwork and Fiverr.

The initial setup for this will be expensive if you don’t know how to launch a brand and perform marketing activities. However, if the brand establishes in the market then it can become a money minting machine.

  • Realistic?: Yes
  • Investment Needed?: Yes(High)
  • Fast?: Maybe, if you know how to market well
  • Earning Potential: High to very high
  • Recommended?: Yes

1. Affiliate Marketing/Vendor

The best way people in #2 can earn money is by becoming affiliate vendors. Just ask other people to sell on your behalf and pay them a certain commission.

Those other people are called affiliate marketers and they are experts in selling things. Affiliate marketing is similar to dropshipping, however there are a few differences between dropshipping and affiliate marketing.

affiliate marketing lifecycle

However, people think that affiliate marketing is simply selling products and earning the commission. They fail to realize that there are certain strategies behind becoming a successful affiliate marketer. They try to earn before they learn and fail. It is important to learn it before you start earning.

Learn Affiliate Marketing

  • Realistic?: Yes
  • Investment Needed?: Yes (Low)
  • Fast?: Maybe, if you know how to market well
  • Earning Potential: High to very high
  • Recommended?: Yes

Final Words

These are not the only way to earn money online. There are many ways such as cryptocurrencies, sell your photos, rent your stuff, and many more.

You can implement one or more ways from the above list but before that, I want to make a few things clear. If you are just starting then most likely you will struggle no matter what avenue you choose. If you come across something that can make you thousands of dollars in short duration then most likely you will get scammed. You will lose money in paid advertising during the initial phase. You need to work, online earning requires less work is a myth. And most importantly, you will NOT become successful overnight.

Be aware of these things. As I keep saying, you can earn a lot of money online if you don’t quit. What are the other ways that are working for you and you are making money? As long as you are making $10/per day after all expenses, I would like to know and learn from you 🙂

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6 thoughts on “7 Ways To Earn Money Online: Are All Of Them Realistic?”

  1. Out of those 7 from above, I would definitely recommend affiliate marketing. Other six are good ways to earn money online too, but I tried affiliate marketing and none of them can compare with it. The fact that you don’t have to own products to make money, and there are no limits to your earning potential is good enough for me! thanks for sharing this content.

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  2. Thanks for sharing the great content! Currently i still think affiliate marketing is the best way to earn $$$ from the internet. Keep it up for more great content!

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  3. Thank you so much for this highly informative article, Prav! As someone who has done online surveys and currently dropships, has ads on her site, and is an affiliate marketer, I completely agree that these are great ways to earn money online. In light of current events, people are definitely seeing the value in going into business for themselves-be your own boss, make your own schedule, and be in full control of your money; entrepreneurship is a beautiful thing. I have saved your site and will share it with my friends and family. God bless you!

    Reply

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