How To Make Money Online in 2018: Top 5 Best Online Business Models
Making money online is easier than ever before. You just need to know what you can do, then decide what to do and do it. In this post, I outline the 5 ways to make money online that I think anybody can do.
Online Business Models Discussed:
- Personal Services
- Affiliate Marketing
- Information Products
- Amazon Kindle Direct Publishing
- eCommerce Drop Shipping
Offer Personal Services
This could be freelancing services like graphic design, photo editing, video editing, writing, web development, coaching, or anything else you can think of. If you're good at solving a problem, and someone needs that problem solved, you can exchange your services for money online with anyone in the world, instantly. You can even give car rides with the Uber or Lyft app.
You can recommend goods, services, or information products to someone anywhere either directly in-person, via email, or on a website, blog, youtube channel, podcast, you name it. All you need to do is create a channel somewhere with some content, get an affiliate account with the provider, get your link and send it to people or promote it online. Some of the best places to do this are Youtube, your own blog, or a podcast.
Information Products and Online Courses
If you know how to do something and you can create a video or book outlining how to do it, you can sell it online. There are some great places to do this like Udemy, Clickbank, JVZoo, and even on your own website using Wordpress or Shopify or Teachable or a myriad of other hosted membership site providers.
Amazon Kindle Direct Publishing
The best way to create and sell information products if you don't want to get behind the camera or create your own website is to write and publish your own book on Amazon's Kindle Direct Publishing platform. It's free to publish and there are no minimum word count requirements so you can write as long or as short a book as you want.
High Ticket Drop Shipping
You can resell physical or digital products on your own website using the drop shipping method. This means you can put up a website, get a wholesale account with a manufacturer, ask them to drop ship to your customers, then drive traffic to your website and make sales. The biggest benefit is that you get to keep the profit directly. The downsides are that you need to do customer service and support plus use your own money up front to purchase the goods for sale at wholesale cost, thus taking on the risk of fraudulent orders. There are ways to overcome these downsides like hiring virtual assistants to handle your customer service and sales for you and hiring fraud insurance companies to assume the risk of your orders. Overall, this is one of my favorite ways to make money online. Another way to do eCommerce drop shipping is to source a product from China and import it to a fulfillment warehouse in the USA, then sell it on Amazon or on your Shopify website and have the fulfillment warehouse drop ship it to your customer for you. This method takes more upfront investment but can be more lucrative thanks to higher profit margins.
My best advice is to just choose a model and run with it. You need the practice to get started. None of these methods are going to be free, in fact, no business is ever free to start. You'll need to invest your time and money to learn and implement a business plan to make money from it.