It’s no secret that many people are looking for realistic and viable ways to make money on the internet. Some are just looking to make a little extra cash, while others are looking for a long-term, sustainable business.
However, as with offline businesses, many of the online opportunities are limited by one common issue: budget.
To make money, we also need to invest some money, is that truly the case? Apparently not.
Here, we will share 5 viable ways to make money online without any (or at least, very little) investment. If you are currently looking for an online business, these options might worth your attention.
1. Content Development
Content is everywhere: more and more businesses are implementing content marketing, YouTube channels come and go every day, and there are always new blogs being published every single day.
If you are a creative person with the required technical skills to develop various forms of content (hint: the technical aspect is fairly easy to learn), this can be a guaranteed way to make money online.
The most obvious form here is textual content writing, and there are many content mills like iWriter or Textbroker, as well as freelancing sites like UpWork or Freelancer where you can sell your service. Graphic design is also an important aspect of content development, as well as podcast/audiobook recording and video development.
How much can you earn doing this? It will greatly vary depending on your skill level. But if you are a decent content developer, you can easily earn $1,000 to $3,000 a month.
2. Affiliate Marketing
I’m sure many of you have heard the term affiliate marketing before. But, what actually is it?
In a nutshell, affiliate marketing is when you market other people’s products and/or services, and you are paid a certain percentage for every sale. ClickBank and Amazon are just two of the most popular sites with interesting affiliate marketing programs (and they paid well!).
How to actually do affiliate marketing? The most common approach is to write a blog post or have a YouTube video reviewing this specific product or service, and then leaving an affiliate link where people can click and buy the product/service.
A minor downside here is that probably you will need to make a little investment to start a blog. But when done right, you can start at below $100. How much can you make? Many affiliate marketers even reported earning as high as $100,000 a year. You might want to check out this guide by Neil Patel (link: https://neilpatel.com/what-is-affiliate-marketing/) to learn more about affiliate marketing.
3. Selling Online Courses And Consulting
We merged this two into one because the concept is fairly similar: if you are good at something, why not sell that expertise to make money online without any investment?
Thankfully, today there are a lot of platforms for selling consulting services and online courses available. For consulting, Clarity.fm is a popular choice for consultants, while Teachable and Udemy are two online courses platforms with a lot of user base.
How much can you make with these? Again, it will depend on the value of your expertise. However, many online consultants and online course providers have reported six-figure earnings.
4. Be an Influencer
The term influencer obviously has been a buzzword in recent years. In fact, if you ask any kids nowadays, there’s a high likelihood that a lot of them will mention being an influencer as their future goals.
If you can develop content but don’t want to develop other people’s, this can be your option: start a blog, YouTube channel, or even simply share your thoughts on social media.
There are two main ways to monetize being an influencer: being paid for promoting other people’s products/services, and selling advertising spots, main through Google Adsense. There are also other ways to get money, for example, you can combine this with affiliate marketing.
How much can you make? Depending on your influence, but we all know how mega-influencers can make millions every year.
If you have the knack of selling things, but don’t want to invest too much money, dropshipping can be a great option to have.
In essence, dropshipping is selling other people’s products but you don’t keep the stock yourself (and thus, you essentially haven’t paid for the product). When someone bought from you, you will then notify the vendor, which will send the product directly to the customer.
How much money can you make with dropshipping? Again, this can vary greatly depending on the product and how well you can sell it. However, the potential is fairly unlimited.
You might want to check out this guide from Shopify (https://www.shopify.com/guides/dropshipping/understanding-dropshipping) to learn more about dropshipping.
The five methods we have shared above are certainly not the only ones available, but they are among the most effective ones. You can certainly explore other ideas, but the principles remain the same: sell something, especially your expertise, and monetize it in various ways.
The bad news is, and certainly the first thing you should keep in mind: there is no effective get-rich-quick scheme, and there’s no shortcut. You will still need to work hard and be consistent. Yet, there are certainly effective ways to make money on the internet, such as the five we have shared above.