There are many ways to earn money online, the trouble is knowing which ones actually work. To give you a head start I put together a list of the best ways to make money online at home.
Top 4: The Best Ways to Make Money Online at Home
#1 Affiliate Marketing
Affiliate Marketing is where you earn commissions for promoting other company’s products. The best way to do this is through your own website. Most successful affiliate marketers combine a blog with their website where they can build a loyal following by promoting products that solve their problems. If you want a more detailed explanation then check out What is Online Affiliate Marketing?
Affiliate Marketing tops the list of the best ways to make money online at home.
- You can literally make money off your hobbies and interests.
- You are your own boss and work at your own pace.
- Once established, it can be a great source for passive income.
- Easy to get started in.
- Very low startup costs (some groups like Wealthy Affiliate have options for free websites).
- Can be done full or part time.
- If you are not experienced with creating and maintaining websites then you will need the right training. This is not difficult and anyone can learn this, you just need the right tools.
- There is a lot of competition in certain niches.
Some people blog for fun, other have made this a lucrative business. Once your blog starts generating traffic you can start making money with affiliate marketing, ads, ebooks, or selling your own products. To be a successful blogger you need to know the difference between writing about what interests you and writing about what interests your audience.
If you have your audience’s passions, interests, and problems at the heart of your blog, you can expect to get a loyal group of followers and generate a lot of money. Don’t try to create a blog that appeals to everyone. Instead chose a specific niche where you can build your reputation as a subject matter expert (for more in niches, check out Internet Business Niches).
- You can make money off your hobbies and interests.
- You work for yourself and at your own pace.
- Can be a source of passive income.
- Low startup cost (as in it can be free).
- Easy to get started.
- It can take time to build a large number of followers.
- Certain niches have a lot of competition.
- If you aren’t self-motivated, it is easy to go weeks/months without adding content to your blog.
#3 Drop Shipping
Drop Shipping is when an individual will market products on their own websites or through larger sites like Amazon or eBay. When the customer buys the product, the Drop Shipper purchases the item from the wholesaler’s website and has it shipped directly to the customer.
- No inventory needed.
- This ebusiness can be opened quickly.
- Sites like Amazon and eBay are easy to list products.
- You work for yourself.
- The wholesaler owns the inventory so you will not control the packaging, which means they may get a box the wholesaler’s logo.
- You may face inventory shortages from the wholesaler after you sell the product.
- Will not create passive income.
- Some niches are highly competitive.
Companies like odesk.com and elance.com help link prospective employers with freelancers. You can hire out your IT, data service, writing, graphic design, translation, financial management, customer service, legal, or administrative skills to create online home income.
- Schedule flexibility.
- Work from home or on the road.
- Less monotonous than a regular job.
- Can be difficult to find work if your skills are not in demand.
- Inconsistent income compared to a traditional job.
- Will not create passive income.
- You must have a strong resume and/or specialized skill to make decent money.
Watch Out for Scams.
A lot of people like you are looking for ways to make money online. There are also a lot of programs that want to help you part with your money with promises of easy money. If you’re unsure about a program, test it against my 8 Warning Signs on Scams.
This is a quick list of the best ways to make money online at home. There are others but these are the best because you do not need prior IT or internet marketing experience. In time, each of these has the potential to replace your full-time job, not just a little extra spending cash.
If you are ready to start making money at home I invite you to try the Free Starter Membership with Wealthy Affiliate. They have a ton of resources and a 6-course training program to help anyone make money online, regardless of experience. This is the #1 recommended program to teach you to start earning money online. Click here to visit their homepage or you can read my Wealthy Affiliate Review.
Be sure to share this with your friends so they can learn the best ways to make money online at home as well.