Do you wish to be one of the digital nomads out there that travel around the world while still making passive income? If so, then 2020 is definitely the year to make your dream come true. A recent study showed that people working from home will reach up to 50% of the whole workforce by the end of the year 2020, all thanks to how easy money making online is.
Everyone should agree that Internet has been the ultimate revolution of our lifetime. Thus, launching an online business and learning how to leverage the power of Internet is definitely a great opportunity for us today to make money online and become millionaires. Why not! with Internet, everything is possible.
So let’s jump into it, and these are the 2020 best 4 ways to make money online.
#1 Make money with Ecommerce
It is a fact that the number of people buying from physical retail stores is decreasing day after day. People are switching to online shopping as it is getting more and more popular. According to statistics of 2019, online sales achieved $7.4 billion on Black Friday only without even including Cyber Monday sales.
Nowadays it's been literally possible to buy anything from the comfort of your home, and the items you buy online will directly reach you at your door step. Amazon is the world's largest online retailer, One of its main advantages is that they are up-to-date in terms of their cutting-edge technological advances. Which allows them to grow worldwide on a very large scale.
The Amazon platform is growing by 20% each year, and as it continues growing, so too will your small business on Amazon. Amazon sells almost everything, and the greater opportunity you can get on the platform is to sell physical products. In other words when it comes to choosing a product to sell on Amazon, it has to be of high demand and has a very high potential.
Afterwards, you will need to find a supplier that can manufacture that product for you. You then have to prepare your own packaging and labeling for that product, try to manufacture it overseas, and get it shipped to an Amazon fulfillment center of the country you are selling in.
When you are all done with your Amazon listing, you can set back and start counting your sales on autopilot. And what makes Amazon great is that they do most of the heavy work for you. Especially, the marketing and the fulfillment of your listed products. You also can use Shopify to create your store online. Sure it does not have the same benefits as Amazon, but it allows you to have more control particularly over your brand and also over your products. We recommend you start selling on Amazon first and when you are having success with it, you can switch over to create your Shopify store.
#2 Make money with Affiliate Marketing
An eternal challenge facing each and every store or company online is the ability to sell their products or services. For this same reason, most companies like Amazon or Shopify run affiliate programs. These programs are free and can be joined by anyone worldwide. The way you make money with this method, is by driving traffic to your website or social media. And when someone clicks your affiliate link there and completes an action, you earn a commission from that.
What's good about affiliate marketing is that you actually don't have to create a product and sell it. As an affiliate marketer, what you have to do is to only promote other's products or services. And that's what makes it one of those easy and quick ways to make money online.
One good tip we recommend doing is to always try combining and leveraging many business models at least two or more. For instance, when your products are being sold on Amazon, this means you are dealing with customers. Eventually, you do not want them to only buy from you once. You, rather, would like to have them buying from you over and over again. This is why you should build and grow an email list for you activity.
Affiliate marketing is one of the greatest ways to serve your customers. When you have an email list, you have the ability to sell and promote other's products or services to your own customers. Doing so will allow you to earn more and develop your back-end quickly. Certainly, affiliate marketing is and will always be one of best ways to earn passive income online.
#3 Make money as an Influencer
Over the last few years and with the rise of social media platforms, anybody can become an influencer easily. Becoming an influencer is for real a great opportunity given the fact that social media platforms are all free to use, and anyone can create content online and instantly share it with the whole world. On the Internet, the most valuable thing someone can get today is simply attention of the users.
Influencer meaning: An influencer is someone who has built up a following of users around him. More specifically, someone who has over a period of time developed trust and relationships with those users. So companies, and in order for them to promote their products and services, they tend to search for influencers who would be able to represent and share certain products with their audiences. Of course, influencers will get paid money and/or a commission to do so.
What's awesome about the influencer marketing method is that it is not saturated like many other markets thanks to the fact that each one connects and relates to someone else in a completely different way. Consequently, influencers could never copy one another dur to the fact that each one of them is unique and different in his own way.
Let's, for example, say that you chose to be in the travel niche (which is very huge). Users may not necessarily follow you just for the content you create. They, rather, do follow you for who you are and how you approach your content. They may also get connected with your story. Almost all influencers, like bloggers, coaches, podcasters and YouTubers share pretty much the same piece of content. The conveyed message is just the same. Nevertheless, the way in which that piece of content is delivered differs from one another.
#4 Earn money as a Freelancer
If you are not the kind of people who would want to build a business online, then what we recommend is to become a freelancer online. As a freelancer, you will have to research job offers posted online and eventually do the work for other people. With the Internet getting spread day after day, there will also be more and more demand from companies to hire freelancers and get the work done timely and accurately.
When you are a freelancer, you get total freedom to work from home or from anywhere on earth with no extra pressure associated with being an entrepreneur online. On the other hand and in case you are about to build your business online but need extra income on the side, you have the possibility to put those entrepreneurial skills that you have been learning at other companies or someone else's service in return for money.
Lots of companies out there still need to transition-over to selling their manufactured products online. If you feel like having developed some strong online skills, you then can contact those companies and promote your services to them. Companies will pay you good money to build their business.
If for instance, you are someone who knows how to publish books on Amazon, do you have any idea on how many kindle authors are there who are passionate about writing but are not good at any marketing or publishing stuff?
In this case, you could either work as a freelance publisher or else establish your personal agency where you could offer services that are intended for authors. Doing so, you would be trading your money upfront and earn immediate income while still building your online business as well as your own passive income for the long-term. Check out Fiverr.com to understand what freelancing is about.
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For some people, making money online can help them earn extra side hustle income. However for others, it also can help them escape their 9 to 5 job and become full-time entrepreneurs. If you are making more money online, it means that you have more financial freedom and financial security, and you are getting closer to live the life you've always wanted. And if you can work hard and stick with it, it would really be possible for you to earn a living online.
Comment below: what side hustle do you feel like trying soon?
Also read through the 10 Legit ways to make money online and get started building your passive income today.