We’ve heard the adage that it takes money to make money for years. Sure, that’s easy to say if you’re a trust fund kid or you lucked your way into a winning lottery ticket. But, for most people, making money requires hard work day in and day out. And with costs of living on the rise and stagnant salaries, one job may soon not be enough, either. Regardless of where you stand financially, it can’t hurt to have more income rolling in with the right side gig. Thankfully, the digital age presents an unprecedented amount of opportunities to make money online – even for complete beginners.
The World Economic Forum estimates that by 2025, the global online economy will be worth $20.8 trillion. Improvements in network technology and the widespread availability of smart devices helped push people to the digital lifestyle. The ongoing pandemic helped accelerate this shift. During area-wide shutdowns, people quickly learned how to buy online and pay digitally. In fact, McKinsey reported that COVID-19 singlehandedly accelerated digital adoption by a staggering seven years.
Starting a digital venture can absolutely provide you with additional income sources. Moreover, online gigs allow you to work from home or even bring your business wherever you go. It’s a just matter of learning how to make money online.
How to Make Money Online for Beginners
Below are some of the more popular ways how to make money online for beginners. Note that each gig won’t require expert knowledge in the field, but will ask you to spare some time in learning about the finer points. Once you master the basic workings, you might surprise yourself by discovering an alternate career that plays to your strengths while allowing you to generate some decent earnings. See which side hustle fits you the best.
Market Research
Before a product hits the store shelves, marketing companies must thoroughly research their target market and projected KPIs. Marketers need to make sure the product connects with the right audience, creates a great impression, and performs as expected. For this, companies will need users to give honest feedback on test products. With so many products out there, you might fit one or more target audiences for some of these items. Why not help out a company by sharing your opinions? Even better, you get paid in the process.
Virtual Assistant
Startups and small businesses often cut down on staffing to save on overhead. However, that means they inadvertently leave some jobs unattended. Virtual assistants can help busy owners or executives manage routine but time-consuming work such as checking and answering emails, managing schedules, preparing reports, and liquidating expenses. To land a virtual assistant job, you’ll need your own computer and stable internet access. While the job requires little experience and is a great way for beginners to make money online, it pays to have a working background in your client’s industry. If nothing else, it makes it easier to understand the industry jargon and keep pace.
Teach and Tutor Online
The great thing about being an online tutor is that you don’t need to be an expert in any subject matter. You just need to be better than the person you’re tutoring. Getting an online gig teaching someone else can be a very productive and less-stressful gig, especially if you have knowledge or talent to share. Aside from tutoring classroom subjects, you can teach others to play the guitar, cook specialty dishes, or even a new hobby.
Selling Products Online
Do you have an overstuffed closet or need space in your garage for your new hobby? Why not sell your items online and make money off items you don’t need anymore? At the same time, you can put your social media accounts to good use by advertising your wares to friends and family. Of course, you can go beyond and post your items on popular sites such as Craigslist, eBay, or Etsy. It’s just a matter of signing up for an online account, cataloging your items, and monitoring your posts for any messages from interested parties.
Dropshipping
If you want to take buying and selling items to the next level, then dropshipping might be just the thing for you. Simply put, it’s the act of creating your own online storefront and selling products from third-party manufacturers or distributors through your own site. The difference between dropshipping and maintaining an online retail store is the presence of actual inventory. Instead of buying items wholesale to sell on your site, dropshipping allows customers to place an order for goods that you never need to be in possession of yourself. Upon receiving an order, your supplier will process and fulfill the order and ship it directly to the buyer. For such hands-off efforts, your site stands to earn a pretty penny.
Test Websites and Provide Feedback
Another great way to make money online for beginners is to help companies and website agencies beta-test their websites under development. Today’s websites play multiple roles: information directory, product catalog, online store, history book, blog, and customer service portal. Prior to going online, companies would hire people to check out the website, play around with the functions, and report bugs and feedback. Apart from websites, agencies also hire beta testers for apps, games, and even social channels. For the most part, agencies require little to no experience from testers, as long as they follow the instructions on what to test and what to report.
Affiliate Marketing
Beyond online selling and dropshipping, affiliate marketing poses another way to earn money from online sales. Affiliate marketing allows influencers and social media users to earn commissions by promoting a company’s products. Instead of just referring others to visit the company’s online store, affiliate marketers share a unique code for customers to use when buying from that particular online store. The code registers the purchase as their referral, earning them a commission in the process. Affiliate marketing works best for influencers or site owners with a sizable number of followers. When partnered with a rewards program, affiliate marketing also works great to entice new members to recruit others to sign up for a service.
More Ways on How To Make Money Online for Beginners
Thanks to modern digital technology, making money online has never been easier or more bountiful—even for beginners. For those searching for even bigger income streams, prop firms might have the answer you’re looking for. Platforms such as The Funded Trader are always on the lookout for talented retail traders to show their mettle in forex trading. For a small upfront fee, The Funded Trader will provide clients the opportunity to demonstrate their trading skills in a risk-free simulated environment. Once they pass the test, the new member can start trading using capital from the company. Traders will receive a portion of any profits generated in return for their efforts.
The Funded Trader believes that every retail trader deserves a shot to win on the trading stage alongside the big players. Interested in learning more about how The Funded Trader can help you start your online trading career? Visit our site and take our challenge to see if you have what it takes to join our growing community of successful traders today!
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