When you’re thinking of ways to make extra money from home, it can be difficult to know which idea to choose.
There are thousands of guides, blogs, and websites out there that are dedicated to helping people make money online or start their own business.
However, all of this information can be overwhelming. So, this post will outline 8 straightforward and proven ways that people can use to generate additional income.
Hopefully one of them will pique your interest or suit your skill set!
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Let’s get to it.
Start An Amazon FBA Business:
FBA stands for ‘fulfillment by Amazon.’
In other words, FBA means you are responsible for selling merchandise, but Amazon stores your products in their fulfillment centers and is responsible for order fulfillment and shipping.
Amazon FBA is a wonderful business model. It allows you to predominantly focus on selling and marketing without having to worry about logistics or inventory nightmares.
Now, creating a successful Amazon FBA business is challenging, but it is possible.
If you know how to select a profitable niche and source the right products, you can succeed as an Amazon FBA merchant.
For some inspiration and tips on how to get started, check out this post by on how to sell on Amazon.
Dropshipping is another business model in which you, the merchant, never deal with inventory or fulfilment.
However, unlike Amazon FBA businesses in which a single company (Amazon) is responsible for distribution, dropshipping relies purely on the manufacturer shipping directly to the consumer.
In other words, dropshipping involves purchasing products from manufacturers and selling those products to consumers at a marked up price.
When someone purchases from your dropshipping business, you simply purchase the inventory from the manufacturer and have them ship it directly to the consumer.
Dropshipping can be a great starter business because there are almost no upfront costs; you only purchase inventory once there is a demand for it and you have orders.
Typically, dropshipping business owners will source their products from cheaper manufacturers listed on websites like AliExpress or Alibaba, taking advantage of discrepancies in the cost of goods in North America and Europe compared to Asia.
For example, a dropshipping store that sells watches might purchase watches for $20 from a manufacturer in China, and then resell these watches for $40 to North American/European consumers.
When executed correctly, a dropshipping business can turn into an immensely profitable operation. However, there is certainly a lot of competition in the space, so be prepared to grind if you choose dropshipping as your next source of potential income!
If you want to learn more about dropshipping, you can check out this dropshipping guide.
I had never heard of matched betting before reading Mel’s post “Does Matched Betting Still Work”.
However, matched betting definitely needed to make this list because it is one of the easiest ways to make extra money (if you know what you are doing and if you are in the UK).
Matched betting is essentially a way to turn a profit by leveraging free bet sign up offers that bookies frequently offer to attract new customers and incentivize betting.
In matched betting, you place 2 bets: a back bet and a lay bet for the outcome of a match.
Since you’re betting twice, you’ll be guaranteed to lose one of your bets and win the other. However, since one of your bets is covered by free bonus money, you can play the system to turn a profit.
Start Your Own Blog:
I’m going to preface this money making suggestion with a quick note: if you need to make money quickly, don’t turn to blogging.
However, if you want to develop your own corner of the internet that can generate some serious passive income over time, blogging is an excellent idea.
As bloggers grow their audience, new monetization options present themselves. Display advertising, affiliate marketing, and product reviews/sponsored posts are just a few common ways bloggers are successfully generating income.
Granted, starting a successful blog takes a serious commitment of time and effort, and it can take months (or years) before a blog truly starts to bloom.
For a long-term option, however, starting your own blog can lead to an entirely new world of money making opportunities.
Work as a Virtual Assistant:
Working as a virtual assistant is a great work-from-home option that can also lead to well compensated pay and the development of some valuable skills.
Virtual assistants can find work in a variety of industries, and there is steady demand for VA’s who are able to assist their clients with task/time management, social media coordination, marketing, and more.
If you have a knack for organization, marketing, PR, and are good at sticking to deadlines, working as a VA might be for you!
Some great websites to find work as a VA include:
There are also plenty of other job hunting websites out there with VA opportunities, so don’t be afraid to do some digging!
If you are serious about becoming a VA, the FREE resources on The Virtual Savvy website are a great place to start.
Online Consulting/Management Work:
Are you a pro at search engine optimisation (SEO)? What about social media management or marketing strategy? Can you design killer landing pages that help businesses increase their sales and conversions?
Alright, I’m rambling, but the point is, if you have a valuable skill that you can market, you can successfully make money online.
Businesses (and even individuals) aren’t afraid to spend money if it gets them the results that they need.
If you know how to promote a brand via social media or can act as a consultant in a valuable field like SEO or marketing, you can sell that service.
Plus, the payout can be immense (if you can truly deliver what you promise).
Don’t believe me? Check out this post on $1 million side hustles by Millennial Money.
Grant, the author of Millennial Money, has booked SEO and marketing consulting gigs ranging from $500 to over $100,000.
If you excel at something, might as well sell your services at a premium price point!
I mentioned affiliate marketing in my point on starting your own blog, but affiliate marketing isn’t an exclusive opportunity reserved for blogging.
There are thousands of affiliate programs out there, and as long as you can effectively promote a product or service that actually provides value to your audience, you can make money with affiliate marketing.
Some of the most common affiliate programs include:
- Amazon Affiliates.
- Web hosting affiliate programs (I.e. Bluehost, SiteGround.)
- CJ Affiliate.
- Web Design affiliate programs.
And many, many more.
If you want to try your hand at promoting products/services, affiliate marketing could be for you.
If you are capable of explaining subjects or skills to people and are comfortable with using technology to make money, online tutoring can serve as a great way to make money online.
People are hungry to learn, and online tutors can help aspiring students hone their skills in math, languages, science, or other fields.
Additionally, tutoring jobs generally pay extremely well, with payments often ranging from $15+ per hour of teaching.
Some of the best websites that offer tutoring work include:
There are other job market places that offer tutoring work, and you certainly develop tutoring work into a profitable online side hustle or source of income.
Some Final Thoughts:
While I have only listed 8 money making ideas in this post, the world (and internet) is vast.
As long as you can provide value to others by utilizing your skill set, there are so many ways to make extra money from home or online. It might seem difficult at times, but with enough perseverance, you are sure to succeed.
Thanks for reading!
This article was a guest post by Peter Koch of www.selleratheart.com
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