Figuring out how to make money online fast isn’t impossible. The only problem is knowing where to start!
What’s the easiest way to make money online? How much time does it take? What can you do to create multiple income streams?
The answer to all of these questions is in this guide! So keep reading.
The good news, is that anyone with a computer and internet connection can start.
But just remember, the amount of work in where we exchange time for money is limited.
Why? Well, because there are limited hours in the day.
As an online business owner protecting your time is something we must all be aware of. It’s easy to cap out your income. Or worse, burn yourself out trying to work too much.
The main way to overcome this problem is by learning how to make money online and create multiple streams of income!
You won’t have to rely on just one source of money to pay your bills.
How to make money from home
There are many different methods to make money online from home and it’s important to understand there are actually several completely different paths.
Become a blogger
A blog is one of the best ways to display your work as a freelancer or business owner. It’s literally a living, breathing portfolio.
A blog can be the perfect reflection of your personal writing style, and showcase for your past experiences. There are also a lot of different revenue models to make money online from home (which we’ll dive into), so you’re bound to find something that’s a perfect fit.
Establish a brand
This can come in the form of a personal brand, as exampled by Mariah of Femtrepreneur where it’s just you working in the business or you and 1-2 team members.
Establishing an online brand can also be more of a company brand, as detailed by The Write Life. This is where you start the business and create the brand identity but you have lots of team members and writers.
Both of these brand-building routes are good choices, and offer the capability to increase your popularity, authority, and income, as an entrepreneur.
Be an expert freelancer
Choose one social media platform, or one area of skills and become the best at it. Showcase your expertise at every network event, online interview, blog post, and social share.
In other words, don’t give anyone a reason to not know that you’re the expert at this ONE THING. Instead of being a web designer/photographer/course creator, just focus on being the best web designer ever!
There will be plenty of work for you and plenty of challenges along the way. This industry is constantly changing and you’ll always have to be learning and growing.
You’ll never be bored!
Build an empire
With this method you’re basically becoming a serial entrepreneur who experiments with several different niche sites, startups and other income stream opportunities.
A great example of this venture is my friend Matt, from MoneyLab.co, who works on multiple income experiments every month.
Now, there are no right and wrong ways for make money online. There are only right and wrong ways FOR YOU. If it doesn’t feel right, don’t do it.
With that in mind, here are proven ways for how to make money online today!
1. Freelance blogging
Freelance blogging is the quickest way to earn money. The only downside is that you’re often trading time for money — unless you do it the way that Holly has perfected.
She started out with a full-time day job and then started her online VA business. After just a year-and-a-half she was able to quit her job and earn thousands of dollars every month.
Holly Johnson is an amazing freelance blogger!
She and her husband are avid travelers so we’re all trying to balance a business while being location independent.
Plus, she’s the breadwinner for her family too!
Furthermore, she’s very open and honest when it comes to her freelance writing work, clients and her process. She really knows her stuff and isn’t just a freelance writer who writes about writing. HA!
If you’re interested in becoming a six-figure freelance writer, click here to see if Earn More Writing is for you.
2. Virtual assistant work
Not a freelance writer? That’s okay, I have a solution for you too! It’s called being a virtual assistant.
There are many types of virtual assistants and various services you can offer. This is something that my friend Gina Horkey has successfully conquered.
Doing this has allowed her to grow her collection of products enough in order to quit her full-time job! Now, she’s earning six figures a year!
Since then, she also created a virtual assistant program that helps match VAs to clients. And the best part is that you can become a virtual assistant in 30 days or less.
This is how she mentors and teaches other freelancers how to get started, find clients and make money online.
3. Direct advertising
Offering direct advertising on your blog or website is a great money-making method once you’ve established a solid online brand. You usually need to have quite a bit of traffic (in the form of pageviews) before brands will want to fork over money.
It’s also a lot easier to request a decent advertising rate when you build a separate company brand (a brand or business that isn’t focused on you as a person), versus a personal one.
Alexis Grant is the creator and founder of The Write Life (who I mentioned above). It’s a multi-contributor website that focuses on resources for published authors and writers.
Her team began experimenting with direct ads last year and now earns up to $2,000 a month from displaying banner ads.
They are very particular with what brands/ads they agree to work with, so the resources are something their readers will find helpful!
4. Coaching or mentoring
Business mentoring, life coaching — whatever you identify with — coaching offers the chance to make decent money while offering guidance and helping people.
Depending on what level of experience you have, and your reputation, coaching can pull down $1,000 per session, or more. (I personally know several business colleagues who charge this rate.)
I want to focus on more realistic numbers, and this is something that my friend Amanda Abella has been able to achieve. She’s an awesome coach, and author, who mentors millennial entrepreneurs to take control of their money mindsets and fall in love with their finances.
5. Interest income from savings
I’ve never been a natural saver so creating a consistent savings habit has taken me years (seriously, it’s taken a LOT of time and self-discipline). With much trial and error comes strategies that work and those that don’t.
First off, I use a lot of different bank accounts (kind of like digital envelopes) to stash away money. CIT Bank offers an excellent interest rate and helps me save money without thinking.
Seriously, depending on what your bank balance is this all adds up!
This bonus, combined with the interest I earn in my traditional savings accounts comes to about $34 (so says my 2017 tax return), which is better than nothing.
If you have a problem stashing away money, click here to give CIT Bank a try.
6. Request donations
The donation model is a much lesser-known way to make money as a blogger or creative. One of the first trail blazers to go down this path is Maria Popova, of Brain Pickings.
She makes thousands of dollars a month from readers who love her work and want to continue reading.
My good friend (and accountability partner) Steph Halligan also went this route. Her passion project, Art To Self, is less than 6 months old. But it already brings in several hundred dollars a month in donations from loyal fans and readers.
She produces daily inspirational comics, delivered via email, and people are eating it up. If you have a creative side, and want to share your art with the world, consider the donation model as a smart way to earn a full-time living online.
7. Membership subscriptions
The ladies who run One Woman Shop are truly inspirational. They each have separate businesses but have partnered up to build an amazing brand and business.
It’s taken a lot of time and effort on their part, and they are still trying to turn a decent profit.
The reason I’m showcasing them is because not all brand-building endeavors should be entered into with the sole idea of making money. Sometimes it’s about making a difference, changing lives, connecting with others, or even personal fulfillment.
These benefits often outshine any amount of money.
They’ve built an incredible community, that’s both supportive and full of valuable resources.
As a female entrepreneur myself it’s nice to know that other female business women get where I’m coming from, and are happy to support my ideas.
8. Dividends from a Roth IRA
Even in the beginning stages of my freelance business I started investing into my Roth IRA account with Betterment. The great thing about this particular startup is that you can save as little as $10 or $20 a month.
This helps establish a good retirement savings habit, (although you will pay a $3 monthly fee until you save $100 or more each month).
Every quarter Betterment sends me an email with the information about the dividends I earned the past 3 months.
In the last part of 2017 I earned $118.93 which is pretty decent.
If you’re ready to start earning dividends from your Roth IRA, or other retirement accounts, click here to check out Betterment.
9. Invest small with Acorns
Speaking of investments, outside of my IRA (which is made up of Vanguard mutual funds) I wanted to start investing in the stock market.
But since I don’t have a ton of money to throw around I started investing with just $5 using Acorns.
The app rounds up the transactions I make throughout the month and transfers the difference into my Acorns account where it’s automatically invested according to the amount I pre-set.
It’s easy and free to get started, then you’ll only pay $1 each month to have an account with Acorns.
I haven’t earned a lot of money, but it’s a good start.
Acorns allows you start investing without taking on a ton of risk. Try it out for yourself and get a $10 bonus!
10. Affiliate marketing
Another part of my blog business that I’ve really been focusing lately is affiliate marketing. Secondarily, I’ve been working with specific products and companies that I really like.
An affiliate partnership is where you work with a company to promote and share their products. Then if anyone decides to try them out you’ll earn a small commission.
It’s like a refer-a-friend deal!
The expert in this field of affiliate marketing is Michelle. She’s earns over $50,000 a month just from working with affiliates. And she even created a course called, Making Sense of Affiliate Marketing.
This is where you’ll find out more about affiliate marketing and how to make money online with passive income streams.
11. Course and digital ebook sales
Digital courses and ebooks are seemingly simple to create and have a huge impact on your bottom line. You can make them as simple or as complicated as you like — depending on the delivery style and subject matter.
You can often create a digital product in just one weekend and have it up ready for sale within a week! How much you earn with this income stream is totally up to you.
The more marketing you do the more sales you make. So go ahead and start thinking about what you can teach that other people will want to buy!
12. Brand ambassador and sponsorships
You know those people who give out free samples of food at places like Whole Foods? They aren’t volunteers. The company is paying them to give out free stuff in hopes they can raise awareness about the food and sell more bags/boxes.
This is the simplified definition of what it means to work with brands and become a brand ambassador.
Sounds too good to be true, right?
And how does this apply to an online business? Shannyn, from Frugal Beautiful, has perfected the idea of working with brands.
She’s worked with Payless, Kohl’s, CVS, and tons more companies to get hotel stays, beauty products, clothes, shoes — all for free. It was her guidance that helped me earn my first dollar working with brands like E*TRADE, TaxAct, and Lifelock.
Click here to learn how to make money online by working with well-known brands as an ambassador.
How to make money online fast
If you’re hoping to increase your income this year, I highly recommend learning how to make money online. The hours are flexible and you can work as much or as little as you want!
Not only is earning additional money helpful for reaching your financial goals, but it helps level out the income roller coaster that is being your own boss.
If you’re thinking of how to earn money online in order to create multiple streams of income, hopefully this guide gave you some ideas.
Now go get started!