1. Being Freelancer
- Estimated Income: around $25+/hour, depending on the industry and location
- Requirements: skills and experience in a particular field
The rise of the gig economy makes freelancing a viable alternative to the usual nine-to-five jobs. In fact, 75% of freelancers reported that their income increased after this career shift.
Those with prior work experience can leverage their expertise and the acquaintance network they’ve built to establish a professional brand. Any line of work will do, though web development, graphic design, and writing are the most in-demand skills online.
Since the freelancing market has become more competitive, you must develop a unique selling point to set yourself apart. One way to do this involves defining your ideal clients.
Freelancers usually create a website to promote their services online. Signing up on work marketplaces like Fiverr and creating a LinkedIn profile can also improve your online presence.
Fiverr The best freelancers marketplace to join in 2022
2. Start a Blog
- Estimated Income: $100-$10,000+/month, depending on blog operational expenses and monetization channels
- Requirements: writing, content marketing, and SEO skills
Starting a blog is one of the most profitable online business ideas. Many six-figure entrepreneurs, like Pat Flynn, began by blogging about their skills and knowledge to a small audience.
In truth, a successful blog is more than just sharing your thoughts on a subject. Before you get started, remember to focus on the following elements:
- Niche. It’ll be easier to grow your website by focusing on a specific theme rather than covering a wide range of topics.
- Content quality. Producing content that offers a good user experience will turn visitors into loyal readers and rank your blog higher on search engine results pages.
- Traffic size. Bloggers with high visitor volumes usually have better chances at attracting potential business partners and selling their own products or services.
- Monetization options. Diversifying your channels to make money with a blog make maximizing profits easier. Popular methods include affiliate marketing, Google Ads, and sponsored content.
- Estimated Income: 35-75% of the eBook’s price as royalties, depending on the platform
- Requirements: creative writing and content marketing skills
Thanks to the internet, becoming an author no longer requires sending a manuscript to a publisher. Anyone can now sell eBooks through a personal website or self-publishing sites, like Amazon KDP.
If you’re a blogger, eBooks are great for compiling existing content into one comprehensive guide. To add more value to the product, she inserts some printable worksheets.
On the other hand, self-publishing sites offer the benefit of an existing audience, saving you the hassle of starting from zero. The only downside is that you won’t be able to claim the eBook’s gross earnings.
As such, many writers create a website as an additional monetization channel to maximize their revenue.
Keep in mind that book production expenses range between $100-$6,000. Make sure to allocate a budget to cover any initial costs if you want to pursue this online venture.
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