Last Updated on by Michael Brockbank
The Internet delivers a vast array of opportunities for those who want to escape the 9-to-5 rat race. With everything that is available, it’s often difficult to pinpoint the best way to make money. Perhaps I can help figure out which is right for you.
Discovering the Best Way for Yourself
I am a successful freelance ghostwriter. Starting in January of 2012, I’ve made a fair amount of money over the years. Is this the best way to make money from home? For me, it is.
And that’s the key.
The best way to make money completely depends on your interests and abilities. Nearly everyone has skills that are marketable online to varying degrees. It’s figuring out how to make them work for you that matters.
Here are a few things you need to consider.
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Time
Certain methods for making money will consume varying amounts of time. This means you need to pay close attention to workable schedules. The more haphazard the day is, the less likely you’ll be productive enough to make any decent amount of money.
Because most of my clients are businesses, I still keep a 9-to-5 schedule to meet their demands. However, I don’t have to travel and I still have a bit more freedom in the day to do what I wish.
Monetary Investment
Some work-at-home opportunities are going to require some kind of investment. For me, it’s keeping my computer up and running so I can write. If you’re deciding on eCommerce, you need shipping supplies and inventory.
One thing you need to keep in mind is the number of scams on the Internet. You should never pay a third-party to work. I don’t pay for webinars or events as the information they share is usually searchable through Google.
Effort
The most important element to remember when looking for the best way to make money online is putting in an effort. The more you put into any plan, the greater the chances of being successful. Don’t assume you can just sit around and have the money flowing into your PayPal account.
Effort is the basis for all the money you’ll make while working from home. For example, I don’t get paid unless I actually type words for clients. When I get sidetracked watching YouTube, I don’t make money.
What are Some Methods of Making Money?
You have access to a myriad of ways to cash in on working from home. Below are just a few of the methods I’ve tried in the past. I am sure there are more out there, and you could probably find more information by rummaging through Google.
Freelance Professional
This is what I am. I write content as a freelancer for people who pay. Freelancers can come in a variety of skill-sets ranging from graphic designers to website developers. In fact, you can market nearly any skill online thanks to sites like Fiverr.com and Freelancer.com.
Freelancing is one of the easiest to get into because you don’t really need much of an investment. All it takes is a computer, the Internet and a marketable skill to start. Although having certain tools available helps your progress, it doesn’t really take a lot.
For instance, a graphic designer might want to invest in Photoshop or Illustrator if they don’t already have it.
Vlogger
Vlogging, or video blogging, is quite popular on sites like YouTube. Essentially, you earn ad revenue simply by talking to your audience about what ever interests you. Some people on YouTube have accumulated a great deal of success over the years.
Vloggers make money either through systems like Google’s Adsense or through a sponsorship from businesses. Some will even sell their own shirts and what-nots through an eCommerce site.
The problem with Vlogging is that it can take you a long time to build an audience to the point where the total income surpasses a regular 9-to-5 paycheck. Content, niche, personality and video equipment will all play a role in succeeding.
Blogger
Blogging is an incredibly common method for making money online. For instance, you’re reading this one right now. However, it takes an incredible amount of effort to build and maintain a site to the point where it makes a decent amount of income.
Although it does take a lot of effort to build a lucrative website, blogging is one of the cheapest to start immediately. You can use free platforms such as WordPress.com to get started. Personally, I pay for my own hosting account each year, which only costs about $150 including the domain name.
I can say with certainty the more time I put into my blogs, the more money they make per month.
eCommerce Sites
One of the funnest times I’ve had working online was maintaining the computer center’s eCommerce and eBay stores. I enjoy retail sales and love1 purchasing inventory for the business. If it wasn’t for some very serious issues in 2011, I would probably still be selling goods online.
Now to do eCommerce right, you need to buy inventory and shipping supplies. I know a lot of people like the “drop shipping” platforms, but they simply do not work as well. I’ve tried both and had way more success selling my own goods.
When running an online store, you have a lot to worry about. Supplies, marketing, customer service and bookkeeping are just some of the elements. It takes a lot of work, but equally has a lot of potential.
Gamer
Looking to play games for a living? Broadcasting your game play on sites like Twitch may be a good alternative. Some streamers on the system make more money in one day than I make in a week.
The downside to streaming games is you need to be engaging. Most viewers don’t watch a person play a game for the sake of the game. It’s about interacting with a “celebrity” and making a connection. You don’t even have to be good at the game you’re playing as long as you can connect with the audience.
You can start streaming today, if you have a good enough Internet connection and streaming software like OBS. Just don’t assume you’ll bring in hundreds of dollars a day in donations or endorsements, though.
Like blogging and vlogging, you need to cultivate an audience.
Trading Stocks
You can make a fair amount of money trading stocks from home…if you have a fair amount of money to put into it. A portfolio worth $300 isn’t going to make it happen overnight. It takes a serious amount of dough to replace a 9-to-5 income.
This is aside from the fact trading stocks is very risky. You can lose your entire investment in a very short amount of time. However, you may also discover lucrative opportunities as a cheap company skyrockets.
Personally, I invest in long-term businesses which pay out dividends. It’s a good way to save money for things like taxes as a freelancer and you make a little bit on top of it. Most of my investments are low risk, and all of them show a history of constant, albeit slow, growth.
I wouldn’t say that trading stocks is the best way to make money online, but it’s one that can be good if you’re smart with your investments.
Affiliate Marketing
Affiliate marketing is when you’re selling products for another company. Essentially, you are your own marketing department. You need to drive customers using your special affiliate ID link to buy goods from those companies.
You can use these links in emails, on your websites, in social media or even post your own ads in Google Adwords. This can be a great opportunity if you know anything about marketing. Best of all, it’s fairly cheap to start immediately – unless you put money into advertising platforms like Google.
This is another method I’ve used to make a good chunk of cash. Not only did I sell goods from my websites using affiliate banners, but I also doubled my money when selling for certain companies using Google Adwords.
Every Experience Will Be Different
No one can say with 100% certainty that you’ll be a success down any given path. Those who do are trying to scam you out of money. Personally, I found more success as a freelance writer. Does that mean you will, too? No. However, I can share how I make money – which is what I do with this website.
Find something that fits your needs and lifestyle. The best way to make money from home is completely up to you.
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