How can I earn extra income online?
Like a lot of people in the world I want to earn more and work less. I want to find more ways to get the money rolling in without having to work the hourly grind to make it happen.
After a few years of trying new options and searching for ways to make this happen, I've realized that there is practically no way to go from $0 to rich passively.
There are lots of ways to earn extra money but the secret formula to making it passive is time and effort.
With enough hard work and time you can build up a brand, a following, even a business that keeps generating revenue 24/7 but to get to this point could take years of hard work and effort to get to the stage where it can happen autonomously.
Some people might say that crypto can make you rich overnight but it won't get you there from $0. You first need to build up some revenue or bring in the capital to invest. Crypto is a great investment vehicle to increase your money but this is about bringing in revenue from other sources.
I've spent the past couple of weeks looking at different social media to see what people are doing to make this happen and there is a lot of crap out there. For all of the influencers that are promising quick riches by opening an etsy, using AI to create content, Instagram to sell products.....ect
99% of these are full of shit.
When you look a little bit closer it falls apart. Their $50K in Etsy sales isn't one product going viral. It's all of their products over years of sales and not counting the expenses of running, operating and producing these products. More like $15K over 5 years or $3k a year, probably with hundreds of hours of work gone into it.
1% of influencers or sellers might have a product go viral but it won't be these mass produced canva designs. It will be something different or unique.
Using AI to create content might give you a lot of content but it's not going to rank highly on any search engine as they are already starting to flag it as low quality. Unless you have built a following there is nobody to see this content anyway and trying to cheat the system never works. You will still need a platform to share this content and then try to generate revenue from ads or affiliates.
It's the same for any of the get rich quick schemes that are floating around instagram, youtube, blogs or whatever source that you are looking at. Most of this content only exists to gain your attention and generate revenue for the people creating it. That's where their income really comes from. From making you think that you can do it quickly and easily by following their actions.
Any of these online sources can become a passive source of revenue with a lot of time and effort so it's up to you to create a plan and build up that source over time. Create the product, market it, profit from it, expand it. Then at some stage it will hopefully have enough momentum to keep generating passive income every day.
Ways to earn money online.
There are many ways to earn extra money online, and the best option for you will depend on your skills, interests, and time commitment. Here are some popular options that may be worth considering:
Freelancing: Freelancing is a great way to earn extra money online by offering your skills and expertise to clients. Popular freelancing platforms include Upwork, Freelancer, and Fiverr.
Selling products online: You can start earning extra money by creating and selling products on platforms like Etsy, Amazon, or your own website.
Online tutoring: If you have expertise in a specific subject, you can earn extra money by tutoring students online.
Online surveys: Some survey sites pay cash or gift cards in exchange for completing surveys.
Affiliate marketing: You can earn extra money by promoting other people's products and earning a commission on sales.
Online courses or coaching: If you have knowledge in a specific area, you can create and sell online courses, or offer coaching services to others.
Blogging or YouTube channel: You can earn extra money by monetizing your blog or YouTube channel through advertising, sponsored content, affiliate marketing or online courses.
Dropshipping: You can earn extra money by starting a dropshipping business, which allows you to sell products online without carrying inventory.
As I have stated above,
Any of these endeavors can become successful sources of income but it's not easy and it won't be fast. It has to be built up from scratch. If your willing to put enough work into building then any of these can become profitable despite their limitations.
The two options that I am going to explore over the next couple of months is to set up my own personal website for all of the content that I create.
Then try to monetize it through google adsense as well as building up some affiliate links which will tie into my content and build this up over a few years for long term passive income.
I think that working on these two options combined will have the best chance of success in the long run and are within my existing skill set.
In time I will try to promote this content using social media platforms such as leofinance, instagram, pinterest and other relevant platforms to increase my profile and my reach.
It will be slow as I do not have huge amounts of spare time but that's even better. Like I wrote about in a previous post, Time to get ahead. Every minute that is spent productively is time well spent and a step closer to the end goal of long term passive income and early retirement.
SMART goals are the best goals.