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11 Easy Online Business Ideas to Make Money From Home in 2024

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11 Easy Online Business Ideas to Make Money From Home in 2024

There are a number of ways to cash in from affiliate marketing, from posting on social media to writing blog posts. One of the best things about affiliate marketing is that it doesn’t require any start-up costs, making it one of the most affordable ways to generate passive income.

2. Make an online course

  • Pros: Easy to set up
  • Cons: Need to market it yourself
  • Earning potential: $100 to $1,000 a month (as a beginner)

If you’ve got specific knowledge or a skill you think would benefit others, why not make and sell an online course? This is especially true if you’re clued up on new and emerging technologies, as spiking demand for online AI training courses shows.

Selling a course is a cost-effective and scalable way to make a steady income while sharing content you’re passionate about. It’s super easy to get started as well with web builder software like Squarespace and Hostinger.

However, there are some drawbacks to monetizing your knowledge. Just like with affiliate marketing, it is easier to make money with an established audience, so if you don’t have a large follower base, or aren’t prepared to market your course, this may not be the best business idea for you.

3. Dropshipping

  • Pros: Requires no start-up inventory
  • Cons: Its competetive
  • Earning potential: $1,000 to $3,000 in the first year

You’ve probably seen enough YouTube ads by now to know what drop shipping is. But if not, dropshipping is a low-risk business model that lets you sell products to customers without incurring wholesale running costs. Unlike with brick-and-mortar and traditional ecommerce, you don’t have to purchase a product unless you’ve already made a sale, reducing financial risks associated with surplus stock.

Dropshipping is a great option for entrepreneurial spirits with little funds available to invest in inventory. However, the world of dropshipping is extremely competitive, and profit margins are a lot lower than with traditional retail.

4. Write a blog

  • Pros: Allows for creative freedom
  • Cons: Can take time to build an audience
  • Earning potential: $70 to $100 a month (as a beginner)

If you’re a budding wordsmith, or are simply passionate about a certain subject, writing and monetizing a blog could be a good way to earn money on the side. After you’ve carved out your niche and put pen to paper, you’ll need to build a loyal online audience. Once you’ve amassed a decent amount of followers, you’re able to monetize your blog across various channels, including through sponsored posts, product sales, or third-party ads.

The great thing about blogging is you have the freedom to write about anything you care about. It’s also a natural way to foster and connect with an online community of like-minded people.

5. Sell goods online 

  • Pros: Can set own profit margins
  • Cons: Requires start-up inventory
  • Earning potential: Up to $10,000 per month

If you’re crafty, or have got an eye for second-hand goods, selling items online can be a decent money-maker. Selling products of your choice allows you to set your own profit margins, and market them to your liking. Lots of ecommerce platforms like Etsy, eBay, and Depop let you retail goods for free too, but they do charge a fraction of each sale.

Selling goods online does require start-up investments though, specifically when it comes to purchasing materials and stock. This makes retailing goods unsuitable to individuals looking to get started for free. Alternatively, you could set up your own site using one of the best ecommerce website builders, which gives you full control of your startup’s finances.

6. Start a print-on-demand business

  • Pros: Minimal start-up costs
  • Cons: Low margins
  • Earning potential: Around $1,500 per month (as a beginner)

Print-on-demand (PoD) is an order fulfillment method where business owners print designs on products like clothing, accessories, and decor using third-party suppliers. Like dropshipping, you don’t need to purchase the stock until the order is received, eliminating the need for costly inventory management. It’s important to research market trends before launching a PoD business, however, as some niches – like sustainable fashion and athleisure – are more lucrative than others.

Man printing a T-shirt from homeBecause the design and printing process are handled by third-party suppliers, all you need to do is market your service and manage orders. Like most business ventures on this list, a high-performing site will be necessary to carry out these steps.

7. Sell an online service

  • Pros: Can utilize existing talents
  • Cons: Hard to build a client base
  • Earning potential: Anywhere from $15 to $100 an hour (as a beginner)

You don’t need to sell something tangible to run a successful business. Selling a service like consulting, life coaching or personal training is a great way to profit from existing skills and experience.

This business idea might be appealing to those who already work for a service provider for their 9-5, but are looking to subsidize their income by going freelance in their spare time. However, if you’re experienced enough, are willing to work hard to build a roster of clients, and receive a decent amount of positive testimonials, there’s ample potential to turn this business into a full-time gig.

Don’t have a big marketing budget? Leveraging free-cost marketing channels and networking in your industry are effective ways to spread the word cheaply, according to author and certified speaking coach Kevin Williams.

8. Create and sell NFTs

  • Pros: Allows you to profit from pre-existing content
  • Cons: Requires technical knowledge
  • Earning potential: Anywhere from $200 to $1 million

Another creative way to make money online in 2024 is by making, and selling an original non-fungible token (NFT). While the hype around NFTs has dyed down a little since the technology broke into the mainstream in 2021, they can still be a decent money-maker for those with some spare time and the right technical know-how.

Anyone can make an NFT, but to avoid copyright infringement it’s best to make one from an original asset. However, even if this isn’t possible, you can still generate a decent income from trading NFTs based on trends and popularity.

9. Create a YouTube channel

  • Pros: Good way to monetize your passion
  • Cons: Time and energy-intensive
  • Earning potential: $18 per 1,000 views

If you’ve always wanted to try your hand at vlogging or video editing, monetizing a YouTube channel is a good way to earn massive income and explore your passions at the same time. While it takes work to build a following, once you reach 1,000 subscribers you can launch YouTube ads on your channel, and make up to $0.5 to $2.5 per 1000 views with AdSence.

Women cooking and filming herselfWomen cooking and filming herselfCreating a successful YouTube channel isn’t light work though. It can take years before a YouTube channel becomes profitable, so to make real profits on this platform you need to be willing to invest a decent amount of time and effort.

10. Make a custom GPT

  • Pros: Quick and easy to
  • Cons: Requires a paid ChatGPT plan
  • Earning potential: Up to $1000 a month

With the GPT store opening earlier this year, ChatGPT Premium and Enterprise users are now able to profit from their own custom GPTs. custom GPTs are customizable versions of ChatGPT that are tailored to a specific niche. From Christmas Card Maker’s to Simionizers, the limit really is your image, but as a general rule of thumb, the most successful GPTs will serve a unique use case and will be trained on richer data than similar competitors.

If you’re subscribed to ChatGPT Plus or Enterprise, creating a custom GPT couldn’t be easier too. All you need to do is name your GPT, add instructions and examples to the builder’s drop-down menu, test it, and you’re ready to go live.

For more detailed instructions, learn how to make a GPT that sells in 10 simple steps here.

11. Create an eBook with ChatGPT

  • Pros: No start-up costs
  • Cons: Very competitive field
  • Earning potential: Up to $2500 a week

You don’t need to be a trained author to write an eBook that sells; all you need is ChatGPT and some well-crafted prompts.

AI chatbots are content-creation machines, so it’s unsurprising so many people have begun using them to earn passively in 2024. The creation process is relatively straightforward too; all you need to do is come up with a niche or original idea – this could range from a mystery crime novel to a non-fiction book about botany – come up with a basic book structure (you can use ChatGPT for this too) and then write the book paragraph by paragraphs by feeding ChatGPT descriptive promotes.

After the book is complete, you can sell it directly through Amazon’s Kindle Direct Publishing (KDP), and earn up to 70% from each book sale.

What Do I Need to Start an Online Business?

The first port-of-call for budding entrepreneurs is creating a developed, yet realistic business plan. A business plan helps crystalize your thoughts into clear, actionable steps. Not only is the document critical when you’re taking your tentative first steps, but it’s also a useful tool for reaching important milestones and showing your concept off to investors and lenders.

Another prerequisite for a successful online business is a website. Whether you’re selling goods online or just looking to boost your reach, building a website will improve your business’s credibility and establish your status as an online competitor. Setting up a site doesn’t need to be an arduous task, either. There are tons of website builders that can help you build a professional site quickly and easily, each with their own specialisms and strengths.

Wix performed best in our independent web builder research, thanks to its generous free plan, excellent UX, and dynamic toolkit, while Squarespace edges out the competitor when it comes to design. See how our favorites weigh up side by side in our comparison table below.

Can I Start an Online Business with No Money?

Sure, heaps of capital make it easier to launch a business from the ground up. But this doesn’t mean there are no viable ways to start businesses for free.

If you’ve got a solid idea that requires financial backing, applying for small business loans and grants are great ways to sew seeds that could eventually flourish into a successful, lucrative business. Whether you need to cover operational expenses, invest in inventory, or launch a marketing campaign to get your business seen, financing can help launch a business forward while affording business owners peace of mind.

The US Small Business Administration (SBA) website is home to a variety of lending options including 7 (a) loans – its primary form of small business financial assistance, 504 loans, and microloans. The agency also provides a range of targeted small-business grants, targeted at research and learning institutions and community organizations.

You don’t need to access financing to get ahead, though. There are loads of business ideas to pursue that don’t require funding, including course-building, dropshipping, and selling goods through free sites like Etsy and Amazon. You don’t need to fork out on a pricey website builder to establish your online presence either.

Major names like Wix, GoDaddy, and Squarespace offer solid free plans. However, most free plans lack basic features like custom URLs and ecommerce functionality, so if these are must-haves for you, you’d be better off investing in a paid builder instead. Check out our guide to the best easy website builders to learn more about the most beginner-friendly options.

Benefits of Starting an Online Business

If you have the time and work ethic required to carry out the undertaking, starting your own business can pay dividends in a number of ways. Firstly, launching a business online is heads-and-shoulders cheaper than opening and maintaining a brick-and-mortar store. It’s also easier to reach a wider pool of potential consumers online than it would be in person, helping you to tap into new markets and expand your base significantly.

Starting an online business allows you to be your own boss too, affording you greater autonomy and control over how and when you work. This is especially valuable for those who are looking to carve out healthier professional boundaries, particularly when it comes to finding a work-life balance. The last perk is an obvious one: hustling from your home office can be extremely lucrative. At a time when the majority of Americans (78%) claim to have financial concerns, launching your own business could spell the difference between surviving and thriving in 2024.

What Makes a Successful Online Business?

If you’re new to entrepreneurship, there are a number of factors to be aware of before taking the plunge. Here are a few tips on launching a successful online business, taken from the mouths of experts themselves.

First, before you unveil your product or service to the world you need to make sure it actually addresses a need. You can come up with this need by referring to your own experiences, and that of your friends and family, or researching market opportunities online.

Research every spare hour you have. There is no shortcut to
knowledge, you must just stay focused on the end goal and absorb as much as
possible. – Ben Hilton, Managing Director of Switch Jam

You need to make sure you do your homework too. Whether it be researching competitors, market trends within your industry, or the legal aspects of launching a product or service, Google will be your best friend in the preliminary stages of running a business.

“Focus on necessities, skimp on luxuries. Use freelance platforms to find affordable services for your needs. Utilize free-to-use platforms like social networks for initial marketing.” –Virginia Miller, spokesperson for Simple Fulfillment

To avoid costly overheads, do as much of the in-house work as possible. From writing your own content to producing your own logo, only outsource the tasks you absolutely have to. Also, skimp on luxuries. Take advantage of free resources like complimentary web-builders and social media, and invest surplus money back into your venture.

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12 Proven Methods to Make Money Blogging in 2024

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Make money blogging

 

Make money bloggingThis is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

  • Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
  • Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
  • Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

  • Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
  • Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
  • Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

  • Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
  • Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
  • Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

  • Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
  • Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
  • Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

  • Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
  • Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
  • Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

  • Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
  • Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
  • Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

  • Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

  • Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
  • Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
  • Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

  • Identify audience needs: Develop products that address the specific needs and desires of your target audience.
  • High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
  • Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

  • Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
  • Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
  • Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

  • Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
  • High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
  • Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos



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This Toxic Money Habit Could Derail Your Financial Planning

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This Toxic Money Habit Could Derail Your Financial Planning

Many Americans believe social media offers an inaccurate picture of wealth and success; 57% of social media users say that people post to appear more successful, and 51% of users say that social media depicts “unrealistic lifestyles,” according to a 2023 Bankrate survey.

Even so, many of them can’t help but get caught up in the cycle of comparison. Between 2022 and 2023, U.S. adults spent $71 billion on “impulse buys” they were influenced to make by social media, per Bankrate’s data — a fact that backs up an increase in “money dysmorphia.”

Related: These 5 Money Secrets Can Turn Healthy Relationships Toxic, Financial Therapist Warns

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How to Get Beat Out Your Competition by Making a Lasting Impression

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How to Get Beat Out Your Competition by Making a Lasting Impression

Opinions expressed by Entrepreneur contributors are their own.

I’m in the public relations space, and as of last count, there are more than 48,000 other PR firms in the United States. A large fraction of these compete with my agency in the five hub cities where I operate. Yet mine consistently ranks among the highest in those cities — Nashville, for example.

Is it because I know my industry better than my competitors? Because I land more placements for my clients? Because my team is more talented or my network of connections more expansive? As much as I’d like to think that I’m running with the front of the pack based solely on the quality of my services and the effectiveness of my methodologies, it’s far more likely that I earn rave reviews and generate referrals from my clients due to two words: personalized attention.

More specifically, my team and I go well above and beyond to create an exceptional customer experience at my firm because I’ve learned over the years of running my own business that it’s the client’s impression of you that matters most — that’s what informs all other aspects of customer relations, drives all other client decisions and determines if they’ll stay with you or not (even more so than short-term results).

Even in the digital age we all inhabit, with so many automated tasks and productivity tools that populate our workplaces, personalizing the professional is a surefire means to client retention and satisfaction. Here are five practices I regularly follow to make the most positive impression on my clients I possibly can.

1. Get a copy of your client’s org chart

When you understand the structure of your client’s business, you understand who does what, who reports to whom, and, in turn, you know who to go to for what. Not only is this an immense time-saver — as in not filling people’s inboxes unnecessarily with work that doesn’t pertain to them — but your clients will also appreciate that you did your homework on their staffing.

It’s so much more impressive to send a note that says, “Would your team like to see this before we send it up to Jeremy?” or “I believe Bettina has the final sign-off here” than “Are you the right person to contact about this?” And note the use of actual names here — learning the first names of everyone you’ll be working with moves you into first place faster than you’d think!

Related: 4 Ways to Make the Best First Impression With Your Customers

2. Use proper grammar and punctuation

Make sure that all your communications to your client — and, far more importantly, all the communications you prepare on their behalf — are written properly. Yes, it takes some extra work to eliminate errors. Still, it’s absolutely worth the effort when you consider how much just one typo can mar an entire project (ever seen “pubic” instead of “public”?) and how poorly faulty grammar can reflect on quality output, education level and attracting the intended audience.

Though it may be true that language standards are slipping in America, that doesn’t mean nobody’s noticing the shoddy quality of copy. Some people still notice and care. If your client is one of them, you’ll earn bonus points by knowing the difference between “compliment” and “complement” by not allowing both “San Antonio Riverwalk” and “San Antonio River Walk” in the same publication. Use your grammar checker. Always do a spell-check. Re-read everything you produce. And if you don’t have a language maven on staff to serve as your in-house proofreader, hire an affordable freelancer who can provide quick turnaround times.

3. Choose video over audio

Whenever possible, schedule video calls and videoconference meetings over phone calls and phone meetings. The day and age of in-person meetings is quickly becoming obsolete. Still, there will never be a replacement for face-to-face interaction, eye contact, observing facial expressions and showing your client with every head nod and eyebrow raise that you’re following what they’re saying and closely attending to your conversation.

During the pandemic, cultivating one-on-one relationships over Zoom and Teams became the new norm, and most people are entirely fine leaving it that way! Interacting over a screen instead of a conference table is just more convenient, time-effective and environmentally friendly. Nevertheless, we can’t afford to lose the “one-on-one interaction” part of business relationships. Remember the old Bell advertising slogan? Well, video is the modern-day equivalent of “the next best thing to being there,” so leverage your camera as often as possible to “see” your clients, not just talk to them.

4. Mark your calendar!

Notate birthdays, business anniversaries, baby due dates. Keep a record of your client’s big meetings and conference attendance. On those days, send a person-to-person text or email. And the more specific, the better, such as “Hope your coffee product presentation in Jersey went well and the traffic wasn’t too bad on the Parkway!” Or “Congrats on baby Elliot. That was my grandfather’s name, and I hope it serves your brand-new son as well as it did him.”

By incorporating the personal into the professional, which is a pillar of my own approach at my company, clients value your role more because you’ve actively endeavored to become part of their lives, not just an appendage of their business. In other words, when you add personal touches to your communications and conversations, your clients can’t help but think of you on a more human level rather than just a professional contact with whom they can easily cut ties.

Related: 6 Strategies for Making a Good First Impression During Business Meetings

5. Observe the line between personal and professional, but use both — often

On a related but separate note: As much as I’m saying to weave personal connections into your daily dealings with your clients, you never, ever want to go too far. You can use humor, but not off-color humor. You can show vulnerability, but you don’t want to appear weak or indecisive. You can ask questions and admit what you don’t know, but be strategic (not lazy) about trying to resolve issues yourself before coming to your clients with them. And be yourself, absolutely always be genuinely yourself, but don’t expose so much that you cross the line into overintimacy or inappropriate divulgence.

By speckling your client interactions with individual touches as you simultaneously maintain proper decorum, you will put a personal face on your business name. And that name will leave more of a mark on your customers precisely because of your adept balancing act between the personal and the professional.

Part of making a meaningful impression on your clients is consciously putting your best face forward every day, in every way. Don’t let them see a messy office behind you on Zoom, but let them vent about their kid’s tonsillitis for 10 minutes if needed. Don’t bad-mouth other clients or finger-point when things go wrong, but get to know them well enough that you’d love to grab a drink next time you’re in town.

Take every opportunity you can to show your clients — and then remind them often — that “business as usual” to you means being prepared (as in learning an org chart), producing quality output (that’s been proofed), scheduling face-to-face encounters, observing special occasions in their lives and sharing your authentic self, who happens to be a multifaceted, wonderful human being with flaws who’s also an utter professional and a real pro at what you do!

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