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Now that we’ve covered some of the best short-term ways to make extra cash, it’s time to explore several long-term strategies to earn money online.
Unlike the previous section, the money-making ideas in the following list require some initial investment of time, and in some cases, money. Even so, they are worth considering if you want to expand your skills and work portfolio.
Blogging is an excellent way for avid writers to earn a source of income. Many people start a blog to share insights, express views, and establish brands. Some popular blogs are Say Yes and Anywhere We Roam.
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Joining an affiliate marketing program is another excellent way to make money online.
Earn a commission as an affiliate by promoting products, services, or businesses on multiple platforms. You’ll get a percentage of the profit when someone clicks on an affiliate link and completes a purchase.
Bloggers can make hundreds to tens of thousands of dollars through affiliate marketing. The exact earnings will depend on the number of affiliate programs they’re a part of and the blog’s readership size.
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Selling products online is one of the best ways to make money. More and more brick-and-mortar stores are turning to eCommerce due to its advantages.
Besides having a broader market reach, eCommerce stores require lower startup costs. For example, you’ll be able to save money on operational expenses since you won’t need different retail locations.
Before launching an eCommerce business, deciding the store’s niche is essential. If you’re unsure, researching trending products will help narrow down which types of products to sell.
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Dropshipping is a B2C business model where people sell products via an online store using a third-party supplier to process and fulfill orders.
It’s easier than running a standard eCommerce store since opening a dropshipping store doesn’t involve the hassle of dealing with inventory and shipping.
Starting a dropshipping store is similar to creating a regular online store — it involves choosing a niche and an eCommerce platform. The main difference is that dropshippers have to find the perfect supplier, too. In other words, supplier quality can make or break the business.
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Running a YouTube channel is a popular way to make money online. As the largest video-sharing platform worldwide, it has an audience of over 2 billion monthly active users.
There are multiple ways to earn money from a YouTube channel. The first step involves signing up for the YouTube Partner Program and ensuring you’re eligible for monetization.
The most popular way to make money is through advertising. Alternative monetization methods include channel memberships, Super Chat, Super Stickers, merch, and YouTube BrandConnect.
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Freelancing is a great way to make money at your own pace. You have the power to choose clients, set your own hours, and determine your rate.
There are over 50 million freelancers in the United States alone, making it a trendy way to earn extra money. Muhammad Qasim and Kelly Vaughn are two among many successful freelancers.
You can offer all kinds of freelance services. Some of the most in-demand freelance skills include web design and development, translating, accounting, and video production.
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The average base salary of a freelance web developer is around $72,000/year. Moreover, the employment of digital designers and web developers is projected to grow by 13% between 2020 and 2030. So, now is a great time to jump into the industry.
The first step to becoming a web developer is to choose a web development specialization. Doing so will save you time, money, and energy and help you stand out from the competition.
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An average base salary of around $58,000/year makes graphic design another high-paying career worth pursuing. For creative individuals, it’s an excellent way of making money online.
The career path of a graphic designer is similar to a web developer. After choosing a specialization, the next step is to learn the required skills. Many design courses are available on various eLearning platforms to help you get started.
For example, a web designer must study user experience, user interface, and the basics of HTML and CSS. Meanwhile, a logo designer should master color theory, typography, and design tools like Adobe Illustrator and CorelDRAW.
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For those with a knack for writing, becoming a content writer is one of the best ways to earn money online. Content writing makes for a profitable side gig or full-time remote work with an average pay of around $64,000/year.
In addition to writing skills, this career path may require SEO knowledge. Knowing the basics of HTML and CSS can also help format your writing, especially when working with a content management system (CMS) like WordPress.
Many content writers have websites to showcase their writing skills and work portfolios. If your blog takes off, it’s also possible to make money online by monetizing it.
Try your luck on job boards like Fiverr and Freelancer where tons of freelance content writing gigs are available. Alternatively, join a content writing agency to get steady work opportunities.
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The continuous rise of social media has made influencer marketing a popular choice to make money online.
Like affiliate marketing, companies pay influencers with large followings to market their products and services. The main difference is influencers aim to impact people’s buying decisions instead of simply bringing leads.
Like streamers, how much money influencers make significantly depends on their following.
The most critical aspects of being a profitable influencer are cultivating a personal brand and becoming an authoritative voice within your niche. This will help attract sponsors and advertisers.
Although many influencers are on Instagram, you can take advantage of other platforms like YouTube and Twitter to build a following and create different types of content. Learn which content types work best for each platform. The social media platform TikTok, for example, is excellent for people who want to create viral videos.
Rhett and Link from Good Mythical Morning and Andrew Rea from Babish Culinary Universe are some of the popular influencers cultivating their careers on YouTube.
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Help business owners attract their target audiences and improve sales performance by offering marketing services. These services may include SEO strategies and social media management.
It’s a great way to make money if you’re already familiar with these concepts or want to develop your skills further.
SEO services can help sites rank higher on search engine results pages (SERP), receive more traffic, and generate leads. You must have SEO skills like link building and keyword research to offer these services.
On the other hand, providing social media management services means planning and executing marketing plans on various social platforms. These activities encourage better audience interaction and higher brand recognition.
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