How To Make Money Online for Beginners
The biggest question I always get is “how can I make money online?”
There are so many ways to start a business online, but this first part is specifically how to make your very first money online.
This is just a couple of actionable things you can do today, whether you have money to spend, or not, that can potentially make you some good money.
Sell something on eBay you don’t use or need anymore
There are a ton of things sold on eBay every day and a lot of them are used.
Look around your home and make a list of things you don’t use much anymore and would be willing to part ways with. If you have an old laptop laying around, old digital camera, a tablet you don’t use much, or anything else related to electronics, you should put that on your list.
Look it up on eBay to find comparable listings and filter by recently sold to see what people are actually paying for it.
When you have an average dollar amount that comparable items sold for, list yours at .01 cents and make it an auction, then set your reserve price at the lowest amount you’d be willing to take for it. Make your auction 1-3 days long.
This way it gives potential buyers reason to bid now and watch the sale until it runs out. Usually, auction listings don’t start seeing a high amount of bidders until the very end, so hold out until the end of the auction and don’t fret if your item doesn’t start seeing a lot of bidders right away.
Usually, auction listings don’t start seeing a high amount of bidders until the very end, so hold out until the end of the auction and don’t fret if your item doesn’t start seeing a lot of bidders right away.
If your item successfully sells above your reserve price, congratulations!
Now, it’s time to ship the item to your customer. If the product you sold is over $100, then be sure to ship with USPS, UPS, or FedEx and get a tracking number, signature delivery, and insurance for the item.
eBay uses Paypal to process payments, so you’ll need to have a Paypal account set up to get paid. They might hold your funds for 21 days when you first get started, but you can get around this by following their directions and providing them with the information they ask for.
eBay might also place a hold on your funds for a few weeks until you build up a positive reputation with them. Don’t fret, this is like having escrow. Your money is safe and it will be released to you as soon as the item is delivered and the customer leaves you a positive review.
So, be sure to ask for a positive review from your buyer.
Once you sell one item on eBay, don’t stop there. Ask your friends and family if they would be willing to give you anything they own and don’t use anymore for you to sell on eBay.
They might understand because they’ve heard of eBay before and they know it’s an auction site. It’s actually one of the oldest e-commerce sites online and was the first auction site of its kind on the web. You can operate a business much like Goodwill Industries on eBay.
You just need to put out the message to your friends and family that you’re accepting donations for anything they don’t use. You might have to go through some garbage to find the gems, but it could prove to be more lucrative than you think, especially if you like to go to thrift stores anyways.
Sign up for a ride-sharing app like Uber or Lyft and give your first 5 rides
This is one of the best ways to make money online if you're just getting started because it's super easy. All you need is a car and you're all set. My favorite thing about driving is that you can make some good money, drive on your own schedule, and meet cool people. You never deal with the same people every day and you will travel to new places you may have never gone if you weren't giving someone a ride.
This is perfect for a side-hustle, but I wouldn't recommend driving full time as it can take a toll on your car. The best times to drive are either in the morning or at night and during big events. Both Uber and Lyft have their own version of a supply/demand equalization tool called prime time. This gauges how much demand there is for drivers in any given area and how many drivers are in that area. If you can be in the right place at the right time, like during a festival where there isn't any other choice for getting home, you can stand to make 2-3x the normal rate.
Start a YouTube Channel and Create Videos To Review Products You've Used
If being a video personality is something you would be good at, then this online money making method might work for you. The key to doing this successfully is to identify products you have used that are also available on Amazon. Amazon has a very lucrative affiliate program where you can share your special referral link with your audience and if they buy it after clicking, you will get a commission.
If you are not an Amazon customer, other big online retailers have affiliate programs too like eBay, Walmart, Target, and much more.
To get started, you'll need a camera and some video editing software. Try to film the video with good lighting and good audio, and be sure to show off the product as much as you can. Talk about the pros and cons, what you liked and what you didn't like if anything, and ask the audience to use the link in the description below if they want to buy it and let them know that you will be supporting you and your channel so you can bring them more awesome content.
That's it in a nutshell. There is more to it like doing proper keyword research and identifying products that have a chance of ranking in the organic results, but if you just review everything you've used, you're bound to come across a few good ones.
You would be surprised at how quickly new YouTube videos get ranked. It can happen overnight. The best thing to do is to stay consistent. Film as many reviews as you can and then schedule them to be posted once per week. Keep filming reviews and keep scheduling them out so that you can build a brand of consistent quality in terms of video production, content, and timeliness.
Making money online is easier than ever before. You just need to know what you can do, then decide what to do and do it. In this post, I outline the 5 ways to make money online that I think anybody can do.
Once you've made some money online and see that it does work, you will probably be motivated to start an online business. Here are the top 5 online business models I recommend.
Online Business Models:
- Personal Services
- Affiliate Marketing
- Information Products
- Amazon Kindle Direct Publishing
- eCommerce Drop Shipping
Offer Personal Services
This could be freelancing services like graphic design, photo editing, video editing, writing, web development, coaching, or anything else you can think of. If you're good at solving a problem, and someone needs that problem solved, you can exchange your services for money online with anyone in the world, instantly. You can even give car rides with the Uber or Lyft app.
You can recommend goods, services, or information products to someone anywhere either directly in-person, via email, or on a website, blog, youtube channel, podcast, you name it. All you need to do is create a channel somewhere with some content, get an affiliate account with the provider, get your link and send it to people or promote it online. Some of the best places to do this are Youtube, your own blog, or a podcast.
Information Products and Online Courses
If you know how to do something and you can create a video or book outlining how to do it, you can sell it online. There are some great places to do this like Udemy, Clickbank, JVZoo, and even on your own website using Wordpress or Shopify or Teachable or a myriad of other hosted membership site providers.
Read my in-depth information products article.
Amazon Kindle Direct Publishing
The best way to create and sell information products if you don't want to get behind the camera or create your own website is to write and publish your own book on Amazon's Kindle Direct Publishing platform. It's free to publish and there are no minimum word count requirements so you can write as long or as short a book as you want.
High Ticket Drop Shipping
You can resell physical or digital products on your own website using the drop shipping method. This means you can put up a website, get a wholesale account with a manufacturer, ask them to drop ship to your customers, then drive traffic to your website and make sales. The biggest benefit is that you get to keep the profit directly. The downsides are that you need to do customer service and support plus use your own money up front to purchase the goods for sale at wholesale cost, thus taking on the risk of fraudulent orders. There are ways to overcome these downsides like hiring virtual assistants to handle your customer service and sales for you and hiring fraud insurance companies to assume the risk of your orders. Overall, this is one of my favorite ways to make money online. Another way to do eCommerce drop shipping is to source a product from China and import it to a fulfillment warehouse in the USA, then sell it on Amazon or on your Shopify website and have the fulfillment warehouse drop ship it to your customer for you. This method takes more upfront investment but can be more lucrative thanks to higher profit margins.
My best advice is to just choose a model and run with it. You need the practice to get started. None of these methods are going to be free, in fact, no business is ever free to start. You'll need to invest your time and money to learn and implement a business plan to make money from it.