There are tons of practical ways to make money online. While some do give huge returns and profits, some can even cut a hole in your pocket too.
Like I always said, money is very important. It’s kinda impossible now to live without money.
In fact, you must have seen and known that many relationships got strained due to a lack of money or want more money!
If you have the ability to do so, then implementing the various ways to make money online and offline (which we are going to talk about it) can be lucrative in the long run.
The following practical ways have been tried by myself or done by friends or relatives and they do give profits.
16 Practical Ways To Make Money From Today
#1. Peer -To-Peer Lending (P2P)
A peer-to-peer or P2P Lending is a personal loan made between you and a borrower, facilitated through any third-party intermediaries but not involving any bank.
Peer-to-peer loans are commonly personal loans or small business loans.
It is also called person-to-person lending and the parties that make P2P loans are called peer-to-peer lenders or marketplace lenders.
How Do You Earn From P2P Lending?
Lending directly to a borrower rather than going through the bank gives you much higher returns.
While a bank will give you roughly 8-11% returns on your investments per year, P2P Lending will give you an average return of 16-20% a year.
Your earnings depend solely on what percentage of interest (and any late payment fee) you lend your money to the borrower.
Advantages Of P2P Lending:
Here are the advantages of peer-to-peer lending :
- It gives you a higher return than conventional banks or CD accounts.
- Transparency features of the lending platforms.
- It provides you with an alternate stream of income sources.
- You can invest even a small amount of capital.
- You can diversify the loan amount you want to give to different borrowers according to their portfolios to minimize the risk.
- Hassle-free as the services are mostly provided by your lending platform.
Disadvantages Of P2P Lending:
Firstly, you should bear in mind that every form of investment carries some kind of risk for investors.
Here are the disadvantages of peer-to-peer lending :
- As it is an unsecured loan, you face the risk of losing your money in case the borrowers defaulted.
- Less liquidity than stocks or bonds because of the short term.
- Some platforms are available to accredited investors only – Individuals with the minimum personal income with a set amount of money which depends on the terms and conditions of the Lending Platform.
#2. Become A Private Lender
Private Lenders are those people who lend money to anyone in a social circle.
The principle is similar to that of peer-to-peer lending but in this, you are the one who has to manage everything and also keep 100% of the profit earned through interest on the money invested as you pay no extra fee to any agency.
Who Is Private Lending For?
This type of lending works best for those people who don’t have much knowledge about the nuances of business, people who do not want to individually run a business, people who don’t mind taking risk of losing money.
If you have some amount of money, have lots of free time to spare and don’t mind dealing with all types of people, then this might work for you.
Remember, you need to have enough time daily to persistently run after those people to whom you gave your money and also know how to make them pay you back without delay. Or you can employ someone else who is good at this to do it for you.
How Do You Earn As A Private Lender?
As you are the sole dealer, the interest rate is set according to your choice. Some lenders even take as high as 10% interest per month for the money they lend.
This works mainly with business owners. The average range of interest most people take is between 2% – 6% per month.
Another way of earning high interest is lending a small amount of money like $50 – $500 to multiple small business owners, sellers (daily wagers) and collecting the interest on a daily basis for some period of time for which you agreed upon – like a month or two or until the principal amount is returned back to you.
Giving out a dollar or two ain’t that difficult for anyone, so it seems easier to pay.
It is one of the easiest ways to earn money. It will not make you rich overnight, but with the time you can accumulate a good amount of money. My sister-in-law did it and it’s quite profitable.
For Example: You distributed $70 to 10 people and collect $2 each day for a month or until they pay the principal amount of $70. At the end of 30 days, you will be in a profit of $600 – that is the interest-only – almost double your invested money.
Advantages Of Private Lending:
- Since you are not giving any fee to anyone, you keep all the profits you make.
- If your interest is high, within a couple of months you will have double or more of what you invested initially.
- Potential borrowers who have small business ideas with no bank account balance and have no one to help them financially are willing to borrow a small amount of money for their start-ups.
Disadvantages Of Private Lending:
- It is risky as the borrower can default.
- If you happen to deal with someone who is reluctant to pay you back, you face the risk of losing your money.
- It consumes time and energy as the borrower might ask you to collect it at some other time of the day other than the routine time you gave.
- If the borrower does not have a specific place or location for running his business like an Ice-cream Vendor or any vendor who doesn’t have a fixed place, you have to trace where they are.
- You might lose your money if the borrower denied taking money from you in the absence of any written proof of lending.
- You will lose your money in case the borrower absconded (in rare cases).
#3. Become A Silent Business Partner
A Silent Partner is someone who invests money in a business in order to receive a share of their profit but does not get involved with how the business is run on a daily basis.
Investing in a local business has some level of risk involved but it is also a solid way to become part of a business without having to run and busy yourself with the day-to-day operations.
Who Is A Silent Business Partner For?
If you have the money but have no interest, time, or skills to actually run a business, then becoming a silent partner investor might be the option for you.
If you are someone who does not mind or is comfortable with taking little risk and understands how a business runs and knows its potential, you can try it out.
Most of the time, even though silent partners are not directly involved in the decision-making process, they often do have a say in regard to the overall direction of the companies in which they invested their money.
After all, it’s money matters and nobody wouldn’t want to be kept in the dark about their investments!
How Do You Earn As A Silent Partner?
How you earn depends on your initial investment, share you hold in the company, the company’s level of success, and the profits it made.
If it goes right, depending on your investment, you could earn a significant amount of passive money every single month that can even change your life.
As the company grows so do your earnings will grow!
But, if the business doesn’t do well then you might lose your money even.
Advantages Of Being A Silent Partner:
- No day-to-day involvement in work for the company.
- If the company performs well, its success can bring you huge passive income consistently as long as the company exists.
- Your earnings grow as the company grows.
Disadvantages Of Being A Silent Partner:
- It requires you to invest your money upfront.
- You need to do thorough research to ensure that you invest in the best that can give you high ROI.
- Many businesses can fail in the initial stage and so there is no guarantee that you will earn back your investment.
#4. Start A Blog
A Blog is a record of your thoughts, opinions, or experiences that you put on the internet for other people to read.
To simply put, Blogging is everything or anything you put out or published on the internet for other people to see or read.
Who Is Blogging For?
Blogging is for anyone, yes you heard me right – for anyone who has the interest or passion to write and have the understanding of how to make engaging content.
If you have ideas about how blogging works, you can start one of your blogs instantly.
Can You Make Money By Blogging?
Yes, you can. Bloggers can earn between $200 – $3,000 a month on average by monetizing their blogs. Some Big name bloggers earn as much as $100,000 per month! Waaa! The sky is the limit.
You can make money by placing ads, affiliate product links or it can be your own product, offering services, and assistance to others, advertising with Google Ads. You can utilize your blog in many ways!
You need to understand a bit about SEO (search engine optimization)- you will find SEO guides and tutorials on Google, YouTube, Blogs.
The most important thing is that your content should be of good quality and give value to the readers and that is what Google wants and looks for.
The quality of your blog and how much traffic you generate is what matters for earning through blogs.
The way to make money by blogging is to find the problems and providing practical solutions to those problems.
#5. Affiliate Marketing
Affiliate Marketing is the process of earning a commission when promoting other people’s products or the company’s products.
In other words, you refer (through a link to the product) to someone any online product you like or you have used and found it good and when that person buys the product, you receive a commission.
Affiliate Marketing is known to be one of the oldest and best ways to create passive income. The commission can vary from $1 to $1,000 or even to $10,000 which depends on the product you are promoting.
You can be both the product owner and marketer as well if you have a great idea, you can validate it and create your own product. Create a link for other people to promote it and give them commissions on their sales. That is another topic which we will talk about it later on.
It is much easier to be an affiliate marketer than creating your own product!
How Does Affiliate Marketing Work?
Basically, affiliate marketing works in four simple steps:
- You sign up / join an affiliate program.
- Once you are approved, you will be given an affiliate link. Choose any product you want to promote.
- You started promoting the products (which is attached with your link) on your website, social media, YouTube videos, any ads or pay per click providers.
- When any purchase is made, you earn a commission.
It is not necessary to have a website and start a blog post to do affiliate marketing. You can as well do it through YouTube videos with tutorials, reviews, social media like Facebook and Pinterest.
However, if you have a website, it is much easier to get affiliate links and you will have more opportunities.
Advantages Of Affiliate Marketing:
Affiliate Marketing has many benefits for both merchants and affiliate marketers. Let’s point out some of the main advantages :
- Merchant can gain more customers without spending more time and money on advertising.
- Merchants have more places to sell their products and services and acquire more customers and more sales.
- It makes it easy to create additional sources of income.
- It does not require any inventory of items or products.
- It does not require a huge investment on the part of the affiliates.
- The affiliate does not have to worry about customer support, taking orders, or any e-commerce related process regarding the products.
- The affiliate just has to promote the products.
- It has the flexibility of work. An affiliate can work on his own time and space.
- The affiliate can work from any part of the world.
Disadvantages Of Affiliate Marketing:
There are a few disadvantages to Affiliate Marketing.
- The merchants may charge a high commission for maintaining an affiliate account.
- Some affiliates may engage in false and misleading advertisements in order to get a sales commission. This leads to complaints and potential buyers will decrease.
- Merchant can promise high commissions for new affiliates and then drop the commission rate after some time.
- Link hijackers can hijack affiliate links and get your commissions.
Here is how you can Get started as an Affiliate Marketer even if you are a complete beginner!
#6. Start A Vending Machine Business
Starting a vending machine business might not sound alluring to many people.
However, you would be surprised to know how lucrative a vending machine business can become with very little to be done on your part to jump-start a passive income opportunity.
If you have some capital and wanted to start a business that does not involve in daily sales or dealing with people, this might be one way of earning extra income for you.
Is Vending Machine Business Profitable?
How much you will earn from it depends on the machines’ locations, sales, number of machines you installed.
It also depends on the more capital you are willing to invest upfront and the more research you put into before venturing into the business. Once your business started rolling, you can even employ someone to do all the reloading (servicing) for you.
Costs Of Operating Vending Machines:
Other than your startup costs, there will be regular costs you will have to bear as long as your vending machines are working.
Like the cost of repairs and maintenance, cost of products for regular refills.
And if you are using second-hand ones, you will have to deal with the maintenance and repairs yourself.
The types of products you want to load in the vending machines depend on the locations where you installed your machines.
Advantages Of Vending Machine Business:
- Low startup costs with the potential to finance more machines.
- Convenient for everyone.
- Low maintenance costs.
- With the right location and products vending machines are like your cash production machines 24×7.
- With a good rate of return your cash flow can grow rapidly.
Disadvantages Of Vending Machine Business:
- Some modern and higher technology-based machines are expensive.
- You have to pay 10% – 20% commissions to location owners.
- Risk of vandalism to your machines. (To avoid this, select a well-lit place with low-crime areas).
#7. Flipping Domains
Domain Name or website flipping or Domaining is a lucrative business that involves buying a domain name and then reselling it for a higher price.
One does not need to have a good experience to get started. It is really simple but it’s not that easy to resell it.
Everyone who wants to have an online presence needs a domain name, be it an individual, organization, brand, or company.
Every domain name has a price and the prices vary. If you are the owner of a domain name that somebody wants, you can sell to them at the price you set for it.
Domain names cannot be replicated. Once it’s taken, the only recourse would be to approach the owner to discuss a sale.
While there are other variations you could choose, sometimes, owning a certain domain especially if it is attached to business can be worth the premium.
Often, people will scout out domain names that are still available, buy them, and then sit on them in order to sell them at a higher price down the road.
Who Can Do Domain Flipping?
If you have a fair knowledge about online business and are willing to put some time in researching keywords and phrases that go well together, then you can try your hand at this business.
However, there is no guarantee that every domain name you bought will sell like hotcakes!
Even if you are trying to start with one, with the time you will learn. So, it’s completely alright if you never have any experience in this field before!
How Do You Earn From Flipping Domain?
How much you will earn from flipping domain names or websites depend on the domain name itself and its extension like .com or .org and how much someone or a company is willing to pay you. You can assess your domain value at Namecheap. This is one of the best and cheapest places for buying domain names.
Usually, a .com is more valuable and costlier than a .org since it’s easier to remember and the most popular one.
A domain name or website can even sell for millions of dollars! Generally, a website can be sold for 30x its original value!
Depending on who may want the domain down the road, you can sell it for good money. You can do the same for websites. You can buy domain names and host at sites like Siteground, Bluehost, or Namecheap.
Where To Sell domains?
Advantages Of Selling Domain Names/Websites:
- You don’t need the experience to try it out.
- Most domain names are cheap and easy to afford.
- A good source of earning that can even turn you into a millionaire overnight!
- You can do it from anywhere using just a laptop or a pc.
Disadvantages Of Selling Domain Names/Websites:
- There is no guarantee that your domain will sell and at a high price.
- Sometimes it takes a long time to sell the domain.
- It works best if you have good capital and can afford to buy tons of domains.
There is no guarantee that this will make you rich quickly. But, if you have the money and don’t want to put yourself through the hardship of running an online business that requires more consistency, then this might fit you.
All you have to do is to put in efforts to do thorough research to find domain names. Flipping them for a much higher price can bring you closer to your dream of financial freedom in years to come!
#8. Make YouTube Videos
Some Facts About YouTube
- There are more than 1.8 Billion YouTubers in the world.
- There are more than 300 hours of videos uploaded every minute on YouTube
- Around 5 million videos are watched all over the world on YouTube every day.
- A study shows that by 2020, 80% of the global internet traffic will be from YouTube videos alone!
Who Can Make YouTube Videos?
Anyone, yes literally anyone can start a YouTube channel!
But, the question is whether you want to use YouTube to create authority, influence, and profits in the marketplace.
You don’t make money on YouTube, but you make money from it. People are seeking human connection and experience. You get followers by being yourself. If you like being on camera or like making videos, then you can try out making YouTube videos.
There are many options you can choose from for your channel – reviews, tutorials, commentary, gaming, vlogging, art, mostly the ‘How-tos’ videos work well.
You can create content based on business and finance, health and fitness, relationships as these are the evergreen contents that won’t get outdated and they will be relevant in the years to come. It will also give you passive income down the road.
Whatever Videos You Are Creating, Your Videos Should Fall Under Either One Or Both Of These Two Categories-
1. Does It Make People Laugh Or Entertain Them?
2. Does It Give Value Or Information To My Audience?
If Your Videos Does Not Fall Into Either One Of These Questions, Then It’s Of No Good. So, You Must Base Your Videos On Either One Of These Or Both!
Recreating YouTube Videos
What if you don’t really want to create your own videos and reuse other videos that are available?
Not a problem if you are aware of the ‘Youtube’s Policy on Fair Use’. You can recreate them. All you have to do is to download videos from the Creative Commons of YouTube itself. These videos can be reused for training or educational purposes.
You check out here or just log into your YouTube account and type ‘Creative Commons videos’ in the search bar. You will find many videos there.
Another site where you can download Free videos without Copyrights is Keepvid.com.
However, I would advise you to create your own videos. It doesn’t need to show your face either if you don’t want to!
You can create your intros and outros. These software are easy to use but have their own limitations. If you are good at using Adobe, then these softwares were nothing compare to it.
However, the ease of use without very over-crowded options and functions, you will be good using either Filmora or Bandicam. If you want to do a little editing on the screen ratio, background or so, with Adobe, it’s like you need not do it for every slide. But with Filmora, you need to kind of manually select on each slide.
I would recommend this course Make Money With YouTube Without Creating Your Own Videos if you do not want to show your face or create your own video content!
Advantages Of YouTube Videos:
- You don’t need any specific qualifications.
- Videos can be made from an iPhone or any good quality camera phones.
- You don’t need an office or company to make YouTube videos.
- You don’t need millions of views to start earning money.
- Anyone can upload or post videos from anywhere in the world.
- It does not require any upfront investment to start.
- Your uploaded videos can earn you passive income months after months or years (if it contains valuable content).
- You have huge potential for earning.
- You can make videos on anything… yes, anything and on everything you ever want or passionate about.
- You are your own boss, you work anytime you like.
Disadvantages Of Making YouTube Videos:
- Making a good YouTube video needs time, dedication, consistency, patience, and even take years before you start earning from it.
- It is very competitive, you need to do your research and good planning.
- You need to create videos with good content that stick out from the crowd so that people will watch your videos.
- A little basic knowledge of videography is needed.
- You need to pay attention to marketing skills, SEO, rankings, thumbnails, etc for monetizing your videos.
- Occasionally, some random videos shot on phones do get viral, but that is not the case for YouTubers most of the time.
#9. Writing eBook
eBooks are those electronic versions of a printed book which can be read on a computer or any handheld devices like tablet, smartphone, or e-reader.
It consists of text, images, or both which are created in a format that changes shape according to the device you read it on without any line break. It will perfectly fill the screen no matter how you held your devices.
How Do You Earn From eBooks?
An eBook is a true form of passive income because after it was written and published, there is nothing more to be done other than sitting back and let the money come in.
Your earning will depend on the value you provided in your book and also the competition in the same niche along with the pricing and how your book sells.
Follow these simple steps when you write:
According to Amy Lynn, these 3 focus points help in creating a quality book :
- Focus on solving a Problem: Any problem which can be applicable to a decent group of people. It can be on the “How to” topics.
- Address a Fear: If you can come up with a topic that addresses a common fear and offer an answer or ways to overcome that fear, your book can sell well.
- Satisfy a Curiosity: Everybody has the curiosity to know something that is not readily available. If you can tap into any curiosity topic, you might have a winner topic.
How To Set The Price For Your eBook
- Research first. Search and compare the quality, page count, content of your book to other similar books, and note the price down.
- Think about your readers. Will they buy at the price you set? What about you? Will you buy it?
- Don’t price it too low because readers can assume that it is of low quality. Price it in a way that gives the impression that it’s worth the money the buyer gave.
- Price is high enough that it will cover your expenses and give you a profit even if it’s not that high.
- Set your price with an “On Sale” in mind. If you want to have a sale make it significant like instead of 20% off, you can put 50% off which will grab more attention and might give you more sales. Besides, it will help in promoting your book also. So, price it accordingly so that you are not at loss. And keep your sales for a minimum time so that the value of your book won’t be lost.
Where To Sell Your eBook
You can use platforms like Gumroad and Amazon but you have to give them some percentage of commission for each sale – which is 20% – 30% of your sale! If you have a website, you can use it to sell your eBook.
Writing a quality eBook and publishing it takes quite a lot of time. But, once you are done with everything there isn’t more work to do much. Hence, It is truly passive.
In fact, the hardest part is the starting. It is difficult to get started. Once, you do your research and collect the much-needed pieces of information, you will gain your momentum gradually. It is definitely worth a try.
So, do you think you fit into this? If so, then do not waste time. Just start.
Don’t wait for the right and perfect timing, because it will never come! You will never find the perfect timing! The perfect time is NOW!
For Example: How to play guitar in 14 days, How to build 6-pack abs, How to cook like a pro, How to do stock trading, How to do cloud mining, How to trade with Bitcoin… the list is endless!
Here is how to Get Started With Writing Your First eBook
#10. Investing In Dividend Yield Stock
Dividend stock can be explained as when companies make a profit, they decide how much to save for future growth and how much to back to shareholders via a dividend.
The companies occasionally pay out what is known as dividends to their shareholders, generally on a quarterly basis to attract more shareholders and also just a way of saying a ‘Thank you’ to their investors.
High dividend stocks provide a Guaranteed income source for the investors, no matter how new the investor maybe!
Growth Companies use their profits to fund future growth and pay a little dividend if they have a payout policy.
Yield Companies are more established and have lesser room for rapid expansion and they don’t need additional funds so they pay a higher proportion of their profits to shareholders as a dividend.
If you have the capital and are interested in the stock market and have no idea at all.
At the same time if you do not want to take any risk on your money, then investing in high dividend stocks can be one of the most profitable ways to increase your finances.
How Does Dividend Yield Stock Pay?
In this, you need to invest a significant amount of money to receive higher dividend payouts.
Many companies pay around a 5% dividend yield to their shareholders.
Suppose, you own 100 shares of Cola-Cola, at $30 per share. At a 5% dividend rate, your quarterly payout would be $150. That is, 5% of a single $30 share is $1.50 which is multiplied by your number of shares -100.
Some companies even pay dividends to investors AFTER they have paid tax on the profit.
Advantages Of Investing In Dividend Yield:
- Passive Income: A good source of passive income that can be used for personal expenses or re-investment.
- Lower Risk: Less risky than other stocks because they are generally well established blue chips that are less likely to experience extreme volatility. It guarantees at least some payout even stock market fluctuates.
- Capital Protection: Dividends provide a buffer against capital loss.
Disadvantages Of Investing In Dividend Yield:
- Less Growth: Since the high yield companies return profits back to investors instead of reinvesting for future growth which takes time to become wealthy.
- Average Returns: You will get average returns if investing only in large blue-chip companies.
- Limited Companies: Dividend payouts are given by limited companies.
- You can not buy shares from the company directly. You need to buy it through Brokers.
The tricky part is choosing the right stocks. You’ve got to investigate each company’s website and be comfortable with their financial statements.
You should spend two to three weeks investigating each company and understand them before investing.
Important Terminology In Stock Market:
- Ex-Dividend Date: Share purchases made on or after this day are not entitled to the dividend. The company’s share price will usually fall by an amount equal to the dividend.
- Record Date: The day share register determines who is entitled to the dividend. Anyone who is not a registered shareholder at 5 pm on the record date will be denied the dividend.
- The record date is set two business days after the ex-dividend date. Shares purchases take three business days to settle.
- Payment date: The day the shareholders get paid the dividend which is usually two to three weeks after the record date.
- Dividend Reinvestment Plan: Some companies allow their investors to reinvest their dividends back into the company at a discount to the current share price through a DRP.
Though any investment in the stock market comes with inherent risk and takes years for becoming a major wealth builder, investing in High dividend yield stock could ultimately improve your financial status and lifestyle in the years to come.
Since the income from the stocks isn’t related to any activity other than the initial financial investment, owning dividend-yielding stocks can be one of the most passive forms of making money.
However, it won’t make you get rich quickly. It will take years to see your profits from it.
It is important to know that you cannot buy stock directly from the company but through Brokers. You can try brokers with low brokerage fees.
#11. Sell Your Stock Images
Stock photography can be any photos that are uploaded in sites like Shutterstock, Getty Images, etc where users from around the world can upload their photography, either for free or paid licensing for other people to use.
A study shows that 66% of people are visual learners. Any information teaming with a good photo is much easier to remember.
Who Is It For?
If you are good at photography or love taking pictures with photographic skills, you can turn your passion into a business by selling your photos as stock photos.
Since many websites are using and searching for unique photos for their brand, there is a big market for stock photos.
You don’t need to be a professional photographer. If you have good skills, you might make more money, though. However, anyone with a good collection of a variety of photos can sell them.
People are looking for specific photos for their content and if you happened to have more subjects, scenes, or objects, you stand a good chance of turning your passion into money!
How Do You Earn From Stock Photos?
One of the most popular sites for stock photography is Shutterstock. The payments are divided into earning tiers.
You can upload as many photos as you want and the initial earning is 25 cents for each download, but it can also rise according to the increasing download of your photos.
Members uploading more than 500 images can get hundreds of downloads per month and can earn a decent amount of money.
The payments differ according to the images and sites you use as a platform to sell them.
Advantages Of Selling Stock Photos:
- Earn money by leveraging your passion.
- No upfront cost needed (assuming you have your own camera)
- Many free software for photo editing available online.
- Your earning can increase as you upload more and more images.
Disadvantages Of Selling Stock Photos:
The only disadvantage can be that it will take some time to build an income stream.
#12. Sell Your Designs
If you are one of those unique few design instincts, who love to express their emotions or thoughts through arts, then here is an opportunity for you by registering yourself on an online marketplace like CafePress, Etsy, or Zazzle.
Your unique designs can be printed on things like t-shirts, hoodies, hats, mugs, cards, buttons, stickers, and other merchandise that can be ordered from the sites.
Your designs need to be unique, good enough, or really funny, engaging designs, unique perspectives, or any artistic designs with perspective.
It can be your paintings or anything which you are good at. You got my point!
All you have to do is upload your designs, all the services like printing, production, shipping, customer care are all handled by the marketplace itself.
Zazzle lets you customize your virtual store to match your brand. It also has in-built tools for cropping, adjusting, and editing your images to fit various products. A platform like Etsy took some amount for registering, while others are free to register.
How Do Selling Your Design Pay?
You split your earnings with the marketplace whenever your designs are sold. The royalty rates may differ according to the sites.
It won’t get you rich overnight but it has a large potential passive income stream that allows you to turn your passion into money.
You can also outsource it if you find people who have artistic instincts but don’t know or don’t want to bother themselves with the selling. You can become their middleman, and receive your commissions.
Advantages Of Selling Your Designs:
- It is easy to get started.
- You have the ability to earn from your talent or passion.
- All you have to do is focus on your designs and upload them – all other things and services are taken care of by the marketplace.
- Provide you with a passive income stream once your designs start selling.
Disadvantages Of Selling Your Designs:
Takes time to build an online presence and earn royalties. (Normally, every business start-up takes some time).
No guarantee of earning a huge amount of money.
There are people out there who created designs that are awesome and unique but those creations are kept unseen by the world. This is the opportunity to turn those arts into money.
So, if you are one of that blessed few, why not start your passive income business right now with the things you are already doing anyway?
It’s just a matter of knowing the opportunity to transform your talents into money. Even if you are not artistically inclined, you can always act as a middleman and sell other people’s creations.
#13. Sell Your Tunes And Music
Online Music Stores are here to stay. If you are good at music or beats, start composing catchy and unique beats and sell them. The more variety you create, the more you have the opportunity to be heard and known!
Companies are always on the lookout for unique and catchy music. They want their own brand music to stand out and attract more customers, who know yours can even end up with big brands! Hmmm!
How Much Will You Earn From Selling Music?
Well, it depends on your music and who buys them. You can even earn quite a good amount of money. It can be a few dollars, or hundreds or even thousands. It really depends on your customer and how well you market them!
It is a great privilege to be able to earn from things that you are doing in any way and are passionate about it!
There will always be a demand for unique music which gave you an opportunity to earn more.
There is an option to create your own website and sell your beats yourself so that you don’t have to pay any extra fees to anyone except your domain and web hosting charges which are of nominal rates.
#14. Start an eCommerce Business – Drop Shipping
Dropshipping is selling products through online platforms which provide e-commerce store.
In drop shipping, you don’t need to have a physical inventory of your products. A supplier holds your products and it is shipped to your customers according to the orders you gave.
How Does A Dropshipping Business Work?
Basically, you are acting on behalf of the seller by promoting or advertising the products through an online store.
Here is how it works –
- Someone saw the products you promoted in your online store and made a purchase.
- You took that money and purchase the ordered products from your supplier at a cheaper rate.
- Then the supplier directly ships the products to the customer.
- You pocketed the margin (profit).
Starting a dropshipping business is one of the most common routes chosen by many people to earn extra income. And you can see that many people do make it big from dropshipping alone. Check these testimonies here.
You might not get it right at your beginning, but have patience because I can tell you that once you roll and master the art of drop shipping, you will never look back! If you haven’t started yet, get started now!
Here Are The Most Popular Dropshipping Sites:
#15. Create Android Apps
Is Creating Apps Profitable?
Almost everything runs on apps nowadays. From the smallest things to the biggest, more and more people are finding it more convenient to use apps rather than physical involvement.
For example: If you want to have a pizza or any snacks, the days of personally going to the Domino’s or Pizza Hut are gone. You just open an app, make an order and your pizza got delivered to you in a jiffy. Some even offer discounts in case of any delay in the delivery other than the committed time frame!
There are many online platforms where you can create android, iOS as well as web applications with no coding required. Any type of app can be created.
Who Can Create Android Apps?
It can be for anyone who is willing to research and have a general understanding of how to make informative and quality packed apps to create content that will help and provide value to others.
How Do You Make Money From Creating Apps?
How much you earn depends on how creative, informative your app is. It also depends on how much you market it.
The more value you gave to the users, the more likely it will get downloaded which gives you a great advantage of enjoying more revenue from purchases or in-app advertising fees.
So, focus building apps on what sells best in the marketplace / popular demands.
Advantages Of Creating Android Apps:
- No advanced coding, design, or development skills required.
- You are the sole owner of the app you created. (Well, after you paid the membership fee)
- No limit to how many apps you can create.
- The platform builder handles the approval, listing, and publishing process.
Disadvantages Of Creating Apps:
- Creating an app and having it listed requires a monthly membership fee which can range from $30 per month for a single app and web application package up to $200 per month for unlimited capabilities.
- It can take time to build enough users for having a significant income.
- No guarantees that your app or apps will get downloads.
#16. Be A Freelancer
Freelancing is a term commonly used for a person who is self-employed and is not necessarily committed to any employer long-term.
In other words, a Freelancer is a person who pursues an occupation without a long-term commitment to any particular employer.
Who Can Do Freelancing?
Anyone can be a freelancer. Freelancers can do many things such as design, marketing, writing, editing, proofreading, consultancy, virtual admin, and so on. If you know how to do such things and don’t want to work under a boss or any person then you can be a Freelancer.
How Do You Earn As A Freelancer?
How you earn depends on how much you are able to leverage your expertise with clients you served and the number of good reviews they gave you.
In the beginning, you can charge a lower rate, as you have more and more satisfied customers, you can gradually increase your price for the work you did.
In fact. pricing won’t be an issue if you deliver high-value products. You can earn a good amount of money in the long run!
Advantages Of Freelancing:
- Better work-life balance.
- Freedom to choose clients and projects.
- Freedom to work anywhere and anytime.
- Opportunity to earn more.
- A chance to experiment with your skill.
Disadvantages Of Freelancing:
- Variable workload and income.
- Need to provide round the clock coverage for delivering work.
- No benefits or perks enjoyed by an employee.
- Isolation from other people.
- Need for a backup plan in case you are not able to work due to sickness or any reason.
You can register at the following sites and start your freelancing.
DISCLOSURE: This post may contain affiliate links, meaning I will get a small commission if you make a purchase through my links, at no cost to you. For more info, please read my Affiliate Disclaimer.
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MLian’s passion for writing is to help you understand that ‘All That Glitters Is Not Gold’. Her mission is to show you Practical and Actionable Ways To Earn Money online and offline to save your time and money – that you won’t get “SCAMMED” into buying something that promises Big but really doesn’t profit anyone except the owners.