Driven by entrepreneurial ambitions, you may have googled “money making ideas” and also thought about how you can make easy money online. Online business is one of the creative ways to make money because you could be making a living on the internet while sitting in the comfort of your home or anywhere else in the world.
According to Internet World Stats, 59.6% of the current world population are on the internet. This represents a quite meteoric 1,187% rise from 2020.
Oberlo statistics show “Global e-commerce sales amounted to more than 3.5 trillion dollars worldwide in 2019” and according to the latest numbers released by the United Nations Conference on Trade and Development (UNCTAD), the estimated 2018 e-commerce sales value translated to 30% of global gross domestic product (GDP) for that year.
The Census Bureau of the United States Department of Commerce announced that “the estimate of U.S. retail e-commerce sales for the third quarter of 2016, was $101.3 billion, an increase of 4.0 per cent from the second quarter of 2016. Total retail sales globally for the third quarter was estimated at $1,212.5 billion, an increase of 0.9 per cent from the second quarter of 2016.”
With the growth of e-commerce and the seemingly already oversaturated market, should you venture into online entrepreneurship or start a new business in 2020? The answer? Absolutely yes!
There are unlimited online money making ideas. How much profit you make from these sources is completely dependent on you. Online entrepreneurship is constantly evolving and new innovative online money making ideas are springing up every day. The year 2020 has proven to be one of drastic changes, some ideas are becoming obsolete while some new ones are becoming prevalent.
Learning creative ways to make money online is one of the ideas constantly and continuously dominating the economy. Facebook now has over 2.6 billion active users and there are well over 5.5 billion searches made every day on Google. With this information, it is obvious there are unlimited money making ideas online.
After spending ample time researching, we’ve come up with a list of creative ways to make money online that will be useful and extremely relevant in the future.
Tested & Successful Money Making Ideas
Create an E-commerce Store
One of the proven online money making ideas is to create an online store. This is providing products and services to your customers online. You can start an online store and the beauty of this is that you can do this without owning a single product.
You can sell anything you want from electronics, books, clothes through wholesale drop shipping or by setting up affiliate marketing stores with eBay, Amazon or Jumia. You can sell used products, new products or even create products of your own.
With this business module, you can receive payment from a host of options: credit card, Interswitch, PayPal et cetera. This all depends on you and your customer’s preferred option. Also, note that most people prefer to pay after receiving the ordered package.
Online stores have a wide range of products and continuously update new ones to keep their customers engaged. If you’re creating your own products entirely, you’ll need to have a good relationship with your suppliers to enable your business to run successfully.
Affiliate marketing is promoting other people’s products and services via a blog or online store and it is proving to be one of the money making ideas that people are taking advantage of. This is how it works in a nutshell: Whenever there is a sale, a commission is sent to you.
The most amazing fact about affiliate marketing is you do not need to spend any money to start, and you get to partner with some of the biggest brands in the world.
Read our blog post on Affiliate Marketing for Beginners
Blogging is among the fastest-growing online business modules on the internet today and this is amazing because it is information-based. If you’re very interested in a particular subject and are passionate about it, then you should start a blog about it.
Lots of people in the world make money from having their own websites and blogs. Blogs and websites should post interesting, thought-provoking and valuable information that will interest users on their website. The logic behind making money with blogs is simple; the more visitors that come to your site, the more money you make from advertisement and other revenue streams.
Blogs work like radio and tv stations where the more the listeners and viewers, the more the advertisements and the higher the rates. This is one of the most informal and well-known online money making ideas and it doesn’t seem to be going away anytime soon. What’s more, you do not need to worry about any of the technicalities like programming and the likes because there are free platforms like WordPress and Blogger that allow you to host your blogs.
This is essentially a blog in video form. While blogging requires you to write, vlogging requires you to sit in front of a camera and talk. Look for a topic that interests you and vlog about it.
Some popular trends in vlogging that attract a lot of viewers are gaming videos, music, fashion how-to and makeup videos. You make money on vlogs by increasing your following and then getting sponsorships on platforms you post on like Vimeo or YouTube. You can also get paid to advertise for brands and services.
Education is an extremely vital part of the world we live in. Humans are always ready to learn. It may be college, a new skill or to even better a skill they already have. Platforms like Udemy, teachable and other e-learning platforms have revolutionalized learning. Traditional methods of learning are being dismantled.
If you have a skill or have in-depth knowledge of a particularly profitable venture, you may want to look into teaching people. You do not necessarily need a platform to sell knowledge. You can create tutorial videos and coaching sessions and teach people what you know.
If you have a skill to offer to others, then you should start teaching.
Publishing Ebooks is another way of making money online. You identify a problem people are having and profer a solution in an electronic book form. If you love writing and possess some marketing skills, then you’ll be able to write a book and self-publish it.
Graphic designing is another path you can take to start a business online. There are loads of graphic designers available. So, you need to find a niche that is profitable for you and you need to be exceptional at it. If your niche is music, e-book cover designing, or social media graphics, then you need to build your business around it.
Also, you can decide to sell your skills on online platforms like, Fiverr, Freelancer and the likes.
Online Marketing services
You can offer services to website owners, agencies etc. You can help drive traffic to their websites by offering some certain skills. Some of the services you can provide include copywriting, Pay-per-click (PPC) advertising, guest blogging, link building, blog services etc.
Business on the web can often be challenging because things never stay the same and trends are always shifting. So, to remain relevant as an online entrepreneur, you need to be above the trend.
Starting your business online is a great way to go if you’re low on capital and want the comfort of working from home or anywhere you want. However, before you start an online business, you need to decide which business you want to do and whether or not it is profitable.
If you have businesses or money making ideas that can be modified and transformed into online models, then, by all means, you should take them online. Conduct prepare research and start. You’ll find the results and opportunities are unending!
There are many money making ideas you can pursue online, and this list is by no means definitive. So, if there’s any I missed, please leave them in the comments below!