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7 Great Money-Making Strategies For 2023



7 Great Money-Making Strategies For 2023

Are you ready to level up your entrepreneurial journey and learn how to make 500 a day? Many people dream of this amount of income coming into their lives because, for many, it means that they’ve achieved financial freedom from their day jobs.

While it may seem intimidating at first, with a bit of effort and know-how, it is possible to make this amount and eventually earn it passively.

So let’s dig into 7 different ways to hit this aspirational number. It will take hard work and dedication, but the rewards can be life-changing.

How to Make 500 a Day

These 7 money-making options below will provide you with the best path for reaching 500 a day. Choose one that speaks to your current skill set or is in an industry you’re curious about.

1. Work As an Influencer

You’ve likely heard of influencers or may even follow a few of them yourself. While it may seem like a fantasy for you to earn money this way, plenty of different influencers out there make a great living.

Even one influencer gig can total $500, much more if you have a strong and engaged audience.

Here are a few different types of influencers out there:

  • Celebrity Influencers: These people are recognized in their field and are regularly contacted to promote products, programs, and initiatives. This may include musicians, actors, authors, or athletes.
  • Macro-Influencers: A macro-influencer is famous because of their influence, but not necessarily because of a career or talent. Those who fall into this category have large followings on social media and can be paid for sponsored posts.
  • Micro-Influencers: These influencers may not have millions of followers but are still influential in their small niche. They usually have between 10,000 to 50,000 followers and focus on a very specific niche or demographic.
  • Brand Ambassadors: Brand ambassadors often share honest and authentic experiences with their audiences after getting free products for review. This is a great way to enter the influencing world and build up your social media following, which can lead to additional offers.

The key to working as an influencer is to regularly reach out to brands and create relationships with them. Make sure to showcase your influence on your social media platforms to attract the right kind of attention.

2. Become a Freelance Writer

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Almost every business on the planet needs content. Words are one of the main ways we connect on the internet, and there’s no shortage of writing jobs available for those trying to figure out how to make 500 a day.

There are plenty of different angles you could approach when getting started as a writer, including:

  • Blogging
  • Editing
  • Technical or medical writing
  • Journalism
  • Grant writing
  • Creative writing
  • Scriptwriting
  • Copywriting
  • Email writing

There are plenty of freelance writing jobs for beginners for those without any experience. These jobs will teach you how to work with clients and can get you published examples to show to future clients.

However, many beginner writing gigs won’t pay enough to earn 500 a day, so you’ll want to grow your portfolio and reach out to higher-paying writing jobs. You can do this by steadily increasing your rate and making time to reach out to larger companies with letters of introduction and pitches.

Tip: Wondering how to make 500 a day with freelance writing opportunities? Offer your clients additional services such as SEO research and optimization, content audits, and creating content calendars.

3. Monetize a High Traffic Website

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A website is a major asset in the digital age, and there are many ways to earn money once you’ve directed traffic to it. To start monetizing a high-traffic website to make 500, you must have at least 10,000 visitors a month.

While many people still find success with less traffic, this is a good goal if you’re just getting started.

You can monetize your website by:

  • Selling digital products
  • Selling affiliate products
  • Accepting sponsorships from businesses or bloggers
  • Creating a site membership
  • Promoting products through email marketing
  • Placing ads on a website
  • Earning a commission through affiliate offers

Many people begin monetizing their sites with affiliate marketing offers. The Affiliate Lab program offers all-inclusive training for new affiliates, and it’s a great way to start learning how to make money with your website.

4. Start a Service-Based Arbitrage Business

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Many people have figured out how to make 500 a day by offering high-ticket services such as graphic design, web development, coding, and other digital trades. But even if you don’t know how to do these things yourself, you can still get in on the action.

Service arbitrage is when you take a service from one provider, usually at a lower price, and offer it to another client at a higher rate.

This gives you the opportunity to make money without having any of the skills yourself. You act as a middleman between two parties who need something you can provide.

The best part about this model is that it is scalable since you’re not doing the actual work yourself. Instead, your focus is keeping things organized, offering exceptional customer service, and ensuring the final product is delivered on time.

5. Rent Out Space In Your Home

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For those who don’t have much time to earn more money but have an unused property available, renting out a space in your home is one of the best hustle ideas for increasing your income to 500.

Even a small property, such as a spare bedroom or a plot of land someone can camp on, can add up to serious earnings.

There are two primary types of renting you have available:

  • Long-term renting: With long-term renting, a tenant signs a lease and pays a set amount each month. This option is great for those who need a stable income and don’t want to deal with the hassle of finding new tenants every few months.
  • Short-term renting: Short-term rentals are often done through services like Airbnb, VRBO, or HomeAway. With this option, you can charge a higher rate and often make more money. However, it can be harder to find tenants, as they usually only stay for a few nights at a time.

No matter which option you choose, you’ll make money while you sleep, making this an extremely efficient way to reach your 500 dollar goal.

6. Flip Stuff

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If you possess a keen eye for identifying products with high potential value, you could be cut out for the lucrative activity of flipping. Flipping is the art of buying gently used items at a low price and selling them at a higher rate to earn money from the sale.

These gems are found at local second-hand thrift stores, estate sales, garage sales, and antique shops.

When you’ve found and purchased a handful of items to sell, upload high-quality pictures and listings to Facebook Marketplace or eBay. Plenty of apps make it easier to sell your items while on the go if you’re looking for a side hustle on the phone.

However, it is essential to conduct ample research and have a comprehensive understanding of the true value of the item before purchasing them.

After all, getting a refund on items you’ve purchased outside of major retailers is challenging.

And you’ll also need to be mindful of inventory and ensure you have plenty of space to store your items while you’re waiting for the sale.

7. Create a P.O.D product

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Print-on-demand (P.O.D.) products have revolutionized the e-commerce industry and made it possible for everyday people to enter the world of selling physical products without an upfront investment.

P.O.D. services allow you to design, produce, and sell products such as mugs, t-shirts, hoodies, hats, bags, and other items without ever having to print or store any inventory.

The key to standing out and making good money with print-on-demand products is to make an original, irresistible, and eye-catching design. Once you have created a great design, you can then upload it to the P.O.D platform and start selling it online instantly.

Profit margins are much lower on these items than if you produced them yourself. But if you can get a high volume of sales with your items, you can definitely reach your financial goals.

Some popular programs you can get started with include Printify and Printful, and here is a list of 36 other print-on-demand companies to research. Each offers different products, services, printing locations, shipping policies, and pricing.

8. Amazon FBA

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You’re in good company if you want to make money through Amazon’s popular FBA program. Countless entrepreneurs have used this platform to build profitable e-commerce businesses, including this Niche Pursuits case study!

You can get started in three general steps:

  • Create an account with Amazon and choose the products you want to sell. Conduct thorough research on market demand, competition, and profitability before selecting.
  • Ship your products to the nearest Amazon fulfillment center—they’ll take care of packaging, shipping, and delivery when customers place orders.
  • List your products on the platform with item descriptions, pictures, and pricing information.

In terms of fees and payments, Amazon deducts a fee for its services, but you’ll still receive your cut from sales after those deductions are made. Finally, stay on top of monitoring sales and inventory levels through the dashboard provided by Amazon.

If you want to save time and get better results throughout the Amazon FBA program, try out Jungle Scout.

Jungle Scout is the go-to research tool for FBA sellers, helping to make sense of the vast product offerings on Amazon’s e-commerce platform. With its advanced algorithms, this handy program examines millions of product listings, evaluates competition, and identifies potential gaps in sales trends, providing users with actionable information for business optimization.

9. Try Out Options Trading

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If you have a large amount of liquid cash in your financial accounts, you can use it to try out options trading. This type of investment has the potential to generate huge profits on relatively little capital and can be used to make 500 in a day or even more.

Options trading is a strategic and complex form of investing but can yield big returns when done correctly. Once you learn how to buy and sell options properly, it takes a minimal amount of time. Simply monitor your trades, make necessary adjustments, and reap the rewards.

Of course, options trading comes with risks and you can potentially lose money if your trades don’t work out as planned. Do thorough research on the stocks or ETFs that you’re interested in trading before making any final decisions.

The Bottom Line: How to Make 500 a Day

Figuring out how to make 500 a day is attainable for ambitious and driven individuals. You can explore various activities and markets to make those daily earnings depending on your skill set.

Ready to take your finances into your own hands?

Whether it’s through freelancing, creating and selling print-on-demand products, starting up an Amazon FBA business, or diving into options trading—one thing’s for sure: You’ll need to do some hard work and research to make it successful. But with dedication, discipline, and a bit of luck, you can reach all the goals you set out for yourself as an entrepreneur. And don’t shy away from getting a headstart from a course like The Affiliate Lab. It’s an investment that can pay off surprisingly fast!

Don’t be afraid to take the leap. The universe might surprise you!

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Nearly 50% of Parents Have Started Side Hustles: Survey



Nearly 50% of Parents Have Started Side Hustles: Survey

Side hustles are soaring as Americans take on second jobs to be able to afford the normal stuff.

According to a new survey, one group in particular is feeling the crunch of rising inflation and home prices, and taking on extra work in response.

Bankrate released its side hustle survey on Wednesday and found that more than one in three U.S. adults make extra money with a side gig, like a weekend job or freelance work.

The survey noted that parents of children ages 18 and under are turning to side hustles more often than those without children or those with older kids.

Related: This Mom Started a Side Hustle on Facebook — Now It Averages $14,000 a Month and She Can ‘Work From a Resort in the Maldives’

“Many Americans are still finding that one job isn’t enough,” Bankrate Senior Industry Analyst Ted Rossman stated. “The cost of living has risen sharply in recent years.”

Nearly half (45%) of parents with kids younger than 18 have a side hustle compared to 36% of childless adults and 28% of parents with adult children.

The average monthly side hustle income is $891 per month and the majority of Americans with side hustles (52%) have only been at it for less than two years. They’re likely using the money to pay bills, build their savings, or for discretionary spending.

Related: This 26-Year-Old’s Side Hustle That ‘Anybody Can Do’ Grew to Earn $170,000 a Month. Here’s What Happened When I Tested It.

“My schedule is mayhem,” 41-year-old Jordan Chussler, parent to a 5-year-old daughter and editor of a financial publication, told Marketwatch.

His daughter’s private school bill is $10,600; inflation has brought household expenses up for his family across the board. Chussler works during his lunch break and at night, as a freelancer and at restaurants, to make ends meet.

Chussler and his wife make about $165,000 combined at their main jobs; Chussler takes on extra jobs throughout the year to bring their combined income closer to $200,000 for more financial security.

He puts the extra money from side hustles into a Roth IRA and his daughter’s education fund.

Related: He Turned His High School Science Fair Project Into a Product That Solves a $390 Billion Problem: ‘This Has Not Been Done Before’

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How Success Happened for Stephen Lease of Goodr



How Success Happened for Stephen Lease of Goodr

This week on How Success Happens, I spoke with Stephen Lease, the CEO and co-founder of sunglasses brand Goodr. He’s had an amazing career, and I was curious to find out about what inspired him to become an entrepreneur, how selling industrial water treatment systems to golf courses taught him to identify what his core consumer base actually cares about, and how he applied the lessons he learned from his time in corporate America to the founding of Goodr.

You can listen to our full conversation above, and below, I’ve pulled out three key takeaways.

Don’t let sunk cost keep you attached to something that’s not working

When you launch a business and feel confident that it’s a great idea, your loved ones will root for you no matter what. Lease founded five businesses prior to finding success with Goodr, and despite feeling confident in all of them at the outset, it eventually became clear that hope was not a solid strategy when a business was simply not working. At the beginning of his entrepreneurial journey, it was painful to come to terms with folding a company he had invested energy into, but eventually, he got good at starting companies cheaply and identifying quickly whether or not they would be a success.
Timestamp — 8:50-10:30

When you shift your mindset to celebrate the work over the results, the ups and downs of the day-to-day grind become a gift

Lease started Goodr as a side hustle, which meant that he worked round the clock for several years before running the company full-time. He’s often asked how he found the motivation to put in that time, and the only answer he can think of is that he found joy in the day-to-day. As a leader, he wants to inspire his team to take big swings, and sometimes, that means putting a ton of effort into something that fails. However, he assures them that failure is okay so long as you celebrate the work over the results.
Timestamp — 19:40-20:50

You can’t be a master at everything — identify your north star as a brand and double down on it

When Lease and his co-founders launched Goodr, they weren’t sure if it would be a lifestyle brand or an eyewear brand, but after a few years, they took an honest look at the business and realized that eyewear is what it did best. That opened up a world of possibility, but they also needed to identify what their differentiators were as a brand — those differentiators are function, fun, fashion and “‘ffordability.” Honing in on that has given the brand a clear decision matrix as it expands its product offerings, and Lease is confident that with those differentiators top of mind, Goodr will continue creating products that its customers love.
Timestamp — 21:28-23:35

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How AI Is Revolutionizing the Marketing Landscape



How AI Is Revolutionizing the Marketing Landscape

Opinions expressed by Entrepreneur contributors are their own.

The marketing landscape is on the cusp of a profound transformation, driven by the rapid advancements in artificial intelligence (AI). These new AI marketing tools are poised to revolutionize how companies approach their strategies, structure their organizations and ultimately reach their target markets.

However, amidst this exciting wave of innovation, identity verification will emerge as a critical factor in ensuring the ethical and effective use of AI in marketing.

Related: How to Harness AI for a Competitive Edge in Marketing

AI marketing: A new era of possibilities

AI marketing tools are no longer a futuristic concept but a tangible reality. They offer unprecedented capabilities, from hyper-personalized customer experiences to data-driven campaign optimization. Let’s delve into how these tools are reshaping the marketing landscape:

  1. Hyper-personalization: AI algorithms can analyze vast amounts of customer data to deliver tailored messages and product recommendations in real time. Imagine websites dynamically adapting content and offers based on each visitor’s individual preferences and past behavior. This level of personalization can significantly enhance customer engagement and drive conversions.

  2. Predictive analytics: AI can predict customer behavior with increasing accuracy, enabling marketers to anticipate needs and proactively offer solutions. This can lead to improved customer satisfaction and retention rates.

  3. Campaign optimization: AI-powered tools can analyze campaign performance data in real time, allowing marketers to make data-driven adjustments on the fly. This can significantly improve the effectiveness of marketing campaigns and reduce wasted ad spend.

  4. Content creation: AI is increasingly being used to generate marketing content, including ad copy, social media posts, images and even product descriptions. While this can streamline content production, it raises important questions about authenticity and the need for human oversight.

Related: 5 AI Marketing Tools Every Startup Should Know About

Organizational impact and go-to-market strategies

The rise of AI marketing will inevitably impact the structure and operation of marketing organizations:

  • New skill sets: Marketing teams will need to acquire new skills in data analysis, AI tool utilization and ethical AI implementation. This may necessitate upskilling or hiring new talent.

  • Data-driven culture: Companies will need to foster a data-driven culture within their marketing departments. This involves embracing data-driven decision-making and investing in data infrastructure. This is critical for any size organization and regardless if you’re a hyperscaler or an organization looking to increase EBITDA.

  • Collaboration: Marketing teams will need to collaborate closely with data science and IT teams to maximize the benefits of AI marketing tools.

As for go-to-market strategies, companies will need to adapt to the evolving landscape:

  • Omnichannel marketing: AI can help create seamless, personalized experiences across multiple channels, from email to social media to in-app messaging.

  • Customer journey mapping: AI can help map the customer journey more effectively, identifying pain points and opportunities for optimization.

  • Transparency and trust: As AI becomes more prevalent in marketing, companies will need to be transparent about their use of AI and ensure customer trust.

Related: AI Is Considered the “Wild West” — Here’s How Marketers Can Rein It In and Ensure Ethical Use

The critical role of identity verification

Identity verification will play a crucial role in ensuring the ethical and effective use of AI in marketing. Here’s why:

  • Data accuracy: AI relies heavily on data. Accurate identity verification ensures that the data being fed into AI algorithms is reliable, preventing biased or discriminatory outcomes.

  • Regulatory compliance: Many regions have strict data protection, age verification and privacy regulations. AI ensures that marketing practices adhere to data protection regulations, such as GDPR or CCPA, by accurately verifying identities and managing consent. This reduces the risk of legal penalties and enhances consumer trust.

  • Preventing fraud: Inaccurate or fraudulent data can lead to misdirected marketing efforts, wasted resources and even reputational damage. Identity verification helps mitigate these risks.

  • Building trust: Customers are more likely to trust brands that prioritize their privacy and security. Robust identity verification practices can strengthen this trust.

The road ahead

The future of marketing is undoubtedly AI-powered. Embracing AI marketing tools can unlock new levels of personalization, efficiency and effectiveness. However, it’s imperative for companies to prioritize identity verification to ensure the ethical and responsible use of these powerful technologies.

As AI continues to evolve, the marketing landscape will undoubtedly undergo further transformations. Companies that adapt to these changes and harness the power of AI will be well-positioned to thrive in the years ahead.

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