If I was receiving a dollar for every time someone has chatted me up, asking about how they can start making money online, I would probably be a naira millionaire by now. So, I’d like to share what I know about this subject matter.
When many people hear about making money online, it seems they think it’s some kind of automatic thing that won’t require you to do anything.
I know that this whole ‘make money online’ crusade has gone in different directions, so many schemes have come up, and people are trying out different methods to go about it. I’ll like to talk based on what I have experienced myself.
1. Sell something
As far as I know, the easiest way to make money online is to sell something: a product, service, knowledge, expertise, etc. That’s it. It is like making money normally, just that the actions and interactions are now being done over the internet.
So, if you’re thinking of how to make money online, think of what you can offer to people so they’ll pay you. ‘Online’ is just your medium of reaching to and interacting with those people. There is no automatic money generating machine ‘online’ that you just need to find out about and start withdrawing from it to your bank account.
So, here are questions you should start answering:
What can you do for people via the internet/social media that they will pay for?
What can you sell to people via the internet/social media that they will pay for?
Again, I’ll run through my list:
- Products (digital products, physical products)
- Services (any service that can be rendered remotely)
- Knowledge (training, coaching, books, building a community)
- Expertise (consulting)
2. Grow your influence
The second way I know to make money online is to sell attention.
This is what comedians, influencers, bloggers, celebrities, etc. do. They create content and put themselves out there and build their followership until people start paying them for ads. Related to this, you have influencer marketing, where people pay these influencers to endorse, review, or showcase their products.
I’ll like to put affiliate marketing here too, because it happens when you are able to use your influence and the attention people give to you, to get them to buy something from someone else, while you get a commission for the transactions.
This one excites many people because they actually think they don’t have to do anything. Well, if you have enough money to invest in trading, that is cool. In that case, it’s more like any other investment since you are not really doing anything (so I won’t talk about that in terms of making money online). Let me talk to those who wish to get into trading by themselves.
So, yea, trading currencies, stocks, cryptos, etc., is a way of making money online. You just need your capital and knowledge, every other thing happens virtually, and your location doesn’t matter. But, as I said, you need knowledge, which is not easy to get. Learning how to trade is not easy (no mincing words). And trading is risky too.
Beyond these three methods, I don’t know of any other legit means of making money. If you know, please tell me. And, please, be careful so you don’t get into all these illegal schemes and lose money.