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Modern ways to make money online and improve your lifestyle

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In today’s modern world, making money online is becoming a popular path for millennials and Gen Z-ers alike, who recognise the opportunities to start up with minimal costs, bring in recurring revenue and in many cases work from anywhere whilst enjoying the freedom lifestyle they’ve always wanted.

We’re now living in the digital age, and the internet provides myriad opportunities to generate income from the comfort of your own home or anywhere else you choose, rather than being chained to your desk at the office for 40 hours a week. It’s easy to see why remote work and online entrepreneurship are at an all time high, with a growing number of people exploring diverse avenues to enhance both their finances and their lifestyles.

From affiliate marketing to freelancing and beyond, here, we take a look at some of the top modern ways to make money online and upgrade your life in 2024.

Affiliate marketing

One of the simplest ways to make money online is affiliate marketing, which entails the promotion of products or services offered by others via affiliate links, and earning a commission for each sale made via your referral

One of the simplest ways to make money online is affiliate marketing, which entails the promotion of products or services offered by others via affiliate links, and earning a commission for each sale made via your referral. There are a number of different ways this can be done, ranging from blogging to social media promotion, however one of the best approaches is to setup a comparison website in your chosen niche; slotsites.uk is a great example of one operating in the online casino industry.

To start with affiliate marketing, you simply need to research the best affiliate marketing programmes in your chosen field and sign up. Amazon Associates, ClickBank, or ShareASale are some of the most lucrative out there at the moment, but there are thousands of different options to choose from. If you have a particular niche in mind – for example, casinos and gambling – then seek out the best programmes related to that.

Once you’ve signed up, you can select products that are relevant to your audience and promote them via your vehicle of choice; if blogging and social media don’t float your boat then email newsletters and websites are other viable options. The key to getting clicks – and in turn, commissions – is creating valuable, SEO-optimised content and strategically placing affiliate links within it to attract potential buyers and make money whenever they make a purchase.

All you need to get started is an internet connection and a platform via which to promote using your affiliate links, and you’re good to go – so if you’re looking for greater freedom and more flexibility in life, then look no further.

Online courses and digital products

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If you possess specialised knowledge or skills in a particular area then selling online courses, memberships and e-books within this field can be another lucrative route to go down to make money online

If you possess specialised knowledge or skills in a particular area then selling online courses, memberships and e-books within this field can be another lucrative route to go down to make money online. There’s no denying that it involves some hard work upfront to create your products and refine your offerings, but once that’s done, they can become evergreen assets that bring you in recurring income each month or each time you launch.

 From teaching languages or offering photography tutorials to packaging and selling business mentorship to other entrepreneurs who are just beginning their journey, the market for educational content online is huge, and it’s growing first – so if you’re looking to get a slice of the revenue pie, then now is the time to tap into this big opportunity.

Platforms like Udemy, Teachable, and Skillshare allow creators to design and sell their courses to a global audience for relatively low prices, but you don’t have to limit yourself to low ticket offerings. By building an audience on social media and in the form of an email list and building a relationship with them over time, you can command higher prices and by leveraging your expertise and packaging it into digital products, you can generate passive income whilst helping your loyal following learn and grow.

If courses, memberships and e-books don’t speak to your skillset, then there are plenty of other options to consider when it comes to selling digital products online. Templates, software and stock photography are just some of them, and once you’ve put them together, there’s no more work to be done other than promoting them. These products are scalable and can allow you to continue generating passive income for a long time afterwards, leaving you free to enjoy the fruits of your labour.

E-commerce and dropshipping

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Starting an online store has never been easier thanks to the proliferation of e-commerce platforms like Shopify, WooCommerce, and Etsy

Starting an online store has never been easier thanks to the proliferation of e-commerce platforms like Shopify, WooCommerce, and Etsy, and from customised merchandise to handmade crafts, the possibilities are endless for aspiring entrepreneurs looking to generate an income online.

Dropshipping, as a business model, has become a particularly popular choice for those with minimal start-up capital and who are seeking a largely hands-off way of working because it makes it possible to sell products without holding inventory. Instead, it’s based around partnering with suppliers who take care of the storage, packaging, and shipping for you, leaving you free to pour your time and effort into marketing and customer acquisition. It’s easy to see why this low-risk approach has grown so rapidly over recent years, and with strategic planning and long-term commitment, you could potentially make some great money from the endeavour entirely remotely whilst enjoying a slice of the good life and enjoying a better work/life balance than ever before.

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AFFILIATE MARKETING

Did OpenAI steal Scarlett Johansson’s voice? 5 Critical Lessons for Entrepreneurs in The AI Era

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Did OpenAI steal Scarlett Johansson's voice? 5 Critical Lessons for Entrepreneurs in The AI Era

Opinions expressed by Entrepreneur contributors are their own.

Did OpenAI steal Scarlett Johansson’s voice? OpenAI has since paused the “Sky” voice feature, but Johansson argues that this is no coincidence. In response, Johansson delivers a masterclass for entrepreneurs on navigating the AI era successfully.

In today’s discussion, we delve into what this controversy means for business owners, highlighting five critical AI strategies they must deploy. We also explore essential methods to protect your intellectual property and leverage AI for a competitive edge—insights vital for keeping your venture ahead in the AI revolution to remain your competitive advantage.

Take the AI skills quiz here (available for a limited time) and equip yourself with practical knowledge by grabbing a copy of my new book, ‘The Wolf is at the Door – How to Survive and Thrive in an AI-Driven World.’

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Why Are New Business Applications at All-Time High?

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Why Are New Business Applications at All-Time High?

More people are starting businesses now than ever before — and the reason could be that the opportunity cost, or what they have to give up in exchange for entrepreneurship, is lower than ever.

Data that the U.S. Census Bureau released earlier this month shows that the total number of applications to start businesses hit a record 5.5 million last year.

That’s half a million more applications than what was filed in 2022.

Related: Here’s What Millions of Small Businesses Have in Common, According to a New Survey

Census Bureau data from the first four months of this year show that the startup boom is still going strong, too — from January through April, the number of new business applications totaled over 1.7 million.

Why are more people filing to start new businesses?

Columbia Business School professor Angela Lee told Entrepreneur that the reason could be the “unprecedented number of layoffs from big tech companies in the last several years, resulting in a large pool of talent freed up to pursue entrepreneurship.”

Columbia Business School professor Angela Lee (left) and Co-Founder of Plum Alley Investments Andrea Turner Moffitt (right). Photo by Monica Schipper/Getty Images)

Lee, the director of the Eugene Lang Entrepreneurship Center, also noted that “entrepreneurship has historically been counter-cyclical because the opportunity cost to start a company goes down during a recession.”

Related: Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth

Big tech companies have been laying off employees in record numbers in recent years.

Tech layoffs last year affected 263,180 employees globally according to tracker Layoffs.fyi.

Amazon laid off the most people (27,410) last year, but Meta (21,000), Google (12,115) and Microsoft (11,158) also contributed to record numbers.

The unemployment rate has remained stable, in the 3.7% to 3.9% range in the U.S. over the past nine months, according to the latest U.S. Bureau of Labor Statistics jobs report.

Related: ‘The Employment Situation’ Report for April Shows Employers Are Taking Hiring Down a Notch, Employee Wage Growth Slowing

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How CEO Visibility Shapes Your Company’s Reputation

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How CEO Visibility Shapes Your Company's Reputation

Opinions expressed by Entrepreneur contributors are their own.

Hyperconnectivity and social media have forever changed the reach and impact of company leadership. These days, chief executives are expected to be the face of their companies, not only in the boardroom, across annual reports or at shareholder meetings, but across the entire and endless digital expanse.

The supercharged visibility of CEOs and other C-suite executives online plays a pivotal, if not essential, role in shaping brand perception and, by extension, brand perception and reputation. This transformation not only forced corporate PR teams to shift focus toward heavily digital branding strategies; it’s also prompted many leaders to rethink their entire approach to image management and public engagement.

Related: How to Skyrocket Your Business to the Top With Thought Leadership and Visibility

The digital persona: More than just a role

The internet (particularly social platforms) has democratized information in incredible ways, giving consumers unprecedented access to the people behind the brands their favorite brands. This shift has made your CEO’s digital persona an integral part of your company’s image.

When your CEO actively engages with audiences online, whether that’s through social media, blogging, webinars or workplace videos, they essentially humanize your brand, lending a powerful human element that can lead to stronger connections with both current and potential customers. A proactive and carefully managed online presence can boost such intangibles as trust and transparency. When your CEO is visible and interacting in ways that align with company values, they can help create a sense of openness that builds trust and connection with your business.

Such a presence can also elevate your thought leadership efforts. By sharing industry insights and forecasts, your CEO (and other executive leaders) can establish themselves and your brand as experts in your space, strengthening a critical perception that nudges customers closer to the finish line.

Impact of CEO visibility on brand perception

How your CEO crafts their image and engages with folks online can have a meaningful, sometimes even lasting, impact on your brand’s relevance and relatability. For example, a CEO who makes themselves approachable and (perhaps most importantly) relatable on social platforms like Facebook, LinkedIn and even TikTok can deliver real-time dividends for brand loyalty, driving trust and consumer interactions in the right direction.

In contrast, as a leader of an organization, a CEO who often seems aloof, distant or disconnected — especially from the values they preach or relevant societal issues and events — can inadvertently drain their company’s reputation, creating an association that can be hard to pull away from.

Successful CEO visibility efforts

Consider Tim Cook of Apple or Satya Nadella of Microsoft. Through both brand PR and adept personal efforts, both leaders have crafted online personas that align closely with the innovative and forward-thinking ethos of their companies. Cook and Nadella are not only effective, often persuasive advocates for their products, but also for broader issues like border societal concerns like privacy, security and corporate responsibility, often mirroring sentiment among their customer base.

Related: In a Downturn, It’s Not Enough to Have Good Financials — Brand Visibility Is the New Currency.

Potential risks of higher visibility

Of course, while there are clear benefits to having a highly visible CEO, there are also risks, including:

  • Inconsistency. Any discrepancy between your CEO’s online persona and your company’s actions can lead to public relations issues. Consistency and brand-leadership alignment are key.
  • Overexposure. Too much visibility can backfire over time, especially if it shifts focus away from your company and onto your CEO’s personal views or actions. Again, coordination and careful management of each strategy is essential.

Harnessing social media for CEO influence

Social media can be a double-edged sword. While it does offer a host of valuable platforms for leaders to engage audiences, it also poses considerable risks, especially if not managed carefully.

Here’s how savvy CEOs use social media to their advantage:

Regular updates: Skilled leaders understand how to leverage social channels to keep followers informed about company news and industry trends.

Engagement: While often challenging, CEOs who respond to comments and participate in discussions (measuredly, of course) help build a community around the brand.

Crisis management: Executives who address issues head-on can turn potential negatives into positive press. This also helps demonstrate leadership and accountability, essential to building positive sentiment and trust among consumers.

The SEO advantage of CEO visibility

While sometimes overlooked, CEO visibility can have a sizable impact on your brand’s search engine optimization (SEO) efforts. For instance, regularly updated blog posts and articles from your CEO can provide an incredible opportunity to drive organic traffic to your website, in turn improving its search engine ranking. Additionally, positive mentions of the CEO in the media can help generate positive headlines in Google, boosting your company’s larger online footprint.

Elements like consistent content creation — high-quality, optimized content — and link-building (leveraging and promoting CEO-authored articles and posts) can heighten your CEO’s online visibility and, by extension, elevate your brand across critical search results pages.

Related: This CEO Shares 4 Highly Effective Ways to Promote and Scale Your Small to Medium-Sized Business

Stepping into the spotlight with integrity

Visibility is powerful, but it must be handled with integrity to really benefit your company’s reputation. Your CEO’s online actions and communications should be thoughtful, authentic and aligned with the company’s values. Whether it’s participating in online discussions, writing insightful articles or engaging with followers on social, every activity contributes to the tapestry of the company’s online presence.

A CEO’s digital visibility is a formidable tool that can profoundly shape your company’s reputation. By embracing the spotlight with sincerity and strategy, your CEO not only bolsters your company’s image but also sets a benchmark for future leaders.

In this rapidly evolving digital landscape, those at the helm who can navigate with visibility and integrity are the ones who will steer their companies to new heights of success and influence.

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