To some people, figuring out a way to make a full time income online seems scary or hard. To others, it seems like an impossible task.
What if I shared with you 4 simple ways to get started? Would that ease your doubt and fear?
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If you’re reading this, it’s most likely because you want to know how you can make money online on a full-time basis, but you are no where near that goal.
First, I would recommend that you maintain your job until you are comfortable with the cash you make online. Plus a bit of cash in savings as a backup plan in case things don’t go as planned.
I am pretty sure that you have come across lots of internet marketers, advertisers and individuals who promise you will make tons of money overnight without investment or having to lift a finger – a plug and play method, and I can boldly say that most of them are false promises at best, or scam bait at worst.
Is there really a way to make millions, while sipping champagne at the beach?
I really don’t know! But I can show you my four guaranteed and legitimate ways to make a full-time income online.
These are all methods I have used, and they all require some form of investment. I will also share with you the pros, cons and the earning potential of each.
Converting Your Time to Money as a Freelancer
There are a lot individuals, corporate bodies and entrepreneurs who need a one man band to work with them on a flexible basis. These people do not need or want to hire a permanent staff, so they’re happy to pay people they hire per hour, or by project, for their help.
Want to know the best part?
You can do this job conveniently from the comfort of your home – so you could be in one part of the world and your clients could be in another country, and you’d still deliver efficiently.
So whatever skills you’ve got, there’s someone out there who is willing to pay you for them.
A few examples include writing content for websites or blog owners, transcribing audio files, converting text to speech, being a virtual assistant to online business owners, and graphic and web design.
THE PROS: Freelancing costs nothing to begin, and it’s easier than you think to find clients who’d be interested in the kind of services that you offer.
There are millions of projects that you can apply for, regardless of your country, level of experience and services you choose.
THE CONS: In time, this will prove to be time consuming.
Pitching and applying for jobs, doing the work and replying to client calls or emails can quickly turn into a full-time job. That means that you are restricted to hours not more than 24, so there’s a limit to the amount of money you can earn.
But this is so much better than your 9-5 job. If you want to get started with making money online, I’d definitely recommend freelancing.
HOW MUCH CAN YOU EARN? Depending on the amount of work you get and the level of commitment you make, you could earn from £1,500 a month and as much as £4,000.
Selling an A Membership Programme or Online Course
This is quite different from freelancing.
In the sense that you will need to create a guide or online course that walks people through the process that you use to achieve the desired result.
For example, if you have had much success with blogging, you could show them how to replicate your success through courses you’d create yourself. In other words, simply create easy-to-follow steps that show them how to do it themselves.
I did this while I was at the university. I had an ongoing membership programme for students wanting to learn successful blogging with a monthly fee and guess what? The turn up was massive!
You can either offer a one-time fee, a monthly fee or a yearly one.
THE PROS: This is like hitting the casino’s jackpot. There is no limit to making money online because you create your solution just once, and then you can potentially sell it as many times as you can regardless of what year you are in.
Knowledge they say is power and power is lots of money.
Additionally, you enjoy some freedom from constantly working with clients on a one-on-one basis.
THE CONS: A lot of gurus will gladly sell you the dream of earning passive income online for a good price, but only a few actually work.
However, you should be wise about the kind of videos you make; create courses that will solve your reader’s problem and liberate them financially.
Make sure that each course can be updated so your followers, students or clients can easily stay up-to-date with fresh knowledge.
HOW MUCH CAN YOU EARN? The earning potential of video courses is huge! You can earn from a few hundred to thousands and millions. I earned about £1,000 in the two months from my online programme.
Become an eBay Reseller
eBay is an online market place where you can sell almost anything.
From old dvds to clothes and toys, there is a buyer for almost every item.
Many people clear out their garage to free up space and still make money in the process, but you can actually turn selling on eBay into a real money making opportunity.
You can pick up items for cheaper prices from places like garage sales, car boot and charity shops, and you “flip” them for a higher price.
To begin, I recommend that you start with a specific niche.
This helps you discover what is profitable and deepens your knowledge of what’s profitable and what’s not.
When I began my journey, I exclusively sold only “women perfumes” as this is something that I’m particularly interested in, and experience has taught me what to look for when buying and reselling for profit.
THE PROS: With as little as £50 you too can begin your eBay venture and make residual money from home on a full time basis.
THE CONS: Like selling an online course, this method is pretty intensive.
Sourcing for items for sale, listing it and posting sales with descriptions all take time. You’ll pay a compulsory small fee to eBay for listing your product, and you’ll also typically pay eBay around 10% of the selling price in fees, plus an additional 3.4% + 20p to PayPal for each payment you receive.
But, these are small fees compared to the exposure your items will get. You just need to make sure that you do your maths well before setting up a price for an item.
HOW MUCH CAN YOU EARN? There are swarms of people all across the globe already taking advantage of making a huge income selling on eBay, but the amount of profit you make largely depends on how committed you are to really growing your sales.
I’m still pretty new to this sphere of online money making opportunity at the moment, and I am not giving it a full-time commitment, but my goal is to bag £300 as profit in each month.
Looking for more ideas on how to make money online? Make Money 2000 has a really inspiring post featuring 21 ways to make money online.
Try out Matched Betting
I remember the first time I discovered matched betting, I was almost successful in convincing myself that this was one of the “SCAM BUCKET”. So I did some digging and talked to a friend who does this as for a living, I found out that it’s completely legitimate.
The way it works is that bookies offer free bets to attract new customers to their sites, and by taking advantage of these offers while still betting on any given outcome on a particular game, you can make guaranteed, risk-free profit.
Note: This is quite different from gambling and as long as you follow betting advice from a site like Profit Accumulator, your cash is always safe.
THE PROS: There is no payment of tax on the money you earn through matched betting, and once you get the hang of things, it’s a pretty straight forward.
THE CONS: You’ll need to get started with an amount of cash so you can place your initial bets. Although the money gets temporary tied up with the bookies while you’re waiting for your match to play, it really is safe. You can begin with as low as £50.
HOW MUCH CAN YOU EARN? It’s possible to earn between £500 and £2,000 as profit on each month.
Sounds too good to be true, right? This was why my suspicion “RED FLAGGED” it at the beginning. I made £100 in my first week, committing just around an hour a day.
Related post: Top 10 Tips for Matched Betting Beginners
DO YOU REALLY NEED TO USE FIVE OR MORE DIFFERENT METHODS TO MAKE A FULL-TIME INCOME ONLINE?
For starters, I think you shouldn’t.
You will notice here that some of these methods can earn you a seven figure income stream. However, it is also very important that you have more than one stream of income.
This way, if something goes wrong, you’d still have cash coming in for you. But trying to set up all of these businesses at once will wear you out and you’d end up achieving less than initially planned.
Want my advice?
If you plan to leave your job and make a full time income online, pick just one thing and focus your time and energy until it works for you.
Only then should you decide to diversify your income.
This article was a guest post by Balogun Owomide.
ABOUT THE AUTHOR
Balogun Owomide of Make Money 2000 has a huge passion for spreading motivation, business and personal finance. He writes at his UK Personal Finance blog about motivation, saving and making money.