According to Nasdaq, between 30% and 40% of Americans have a side hustle.
In an increasingly digital economy, there is no better place to earn extra money than online.
From becoming affiliated with a larger company to making money on social media, there are numerous easy ways to make money online in 2023.
Use this guide to the 16 best ways to earn money online to find your side hustle and start living the lifestyle you want without the grueling 9-5.
- What Are the Top Ways To Make Money Online?
- How To Choose the Best Way To Make Money Online
- How Long Does It Take To Make Money Online?
- How Much Money Can You Make Online?
- What Can You Sell To Make Money Fast?
- What Is the Best Online Money Making Site?
- How Can You Make Money While You Sleep?
- How Can Beginners Make Money Online
- Frequently Asked Questions
- Wrapping Up
What Are the Top Ways To Make Money Online?
There are many different ways to earn money online. However, many digital entrepreneurs need to be prepared and equipped with the information they need to succeed.
We’ve included the best ways to make money online, all of which experienced entrepreneurs have researched and vetted.
Freelancers use their skills and expertise to assume independent contract work from businesses and professionals. Consider exercising your existing strengths or developing additional skills to seek freelance work online.
Print on Demand
Print-on-demand is an order fulfillment process whereby consumers purchase a digital product which sellers then print and ship. You can quickly get started by ordering quality digital products in a given niche and marketing them to potential customers.
Dropshipping is another order fulfillment method wherein sellers buy inventory from a third-party company and ship products to consumers.
Common blogging statistics reveal the persistent popularity and profitability of blogs. Because many types of blogs make money, you can choose from different genres and monetization methods to earn money with your blog.
Social Media Influencing
Making money on social media is easier than ever with a variety of different platforms and products influencers can promote. Social media influencers target large audiences, promoting sponsored products and services to earn additional money.
How To Choose the Best Way To Make Money Online
There are several factors to consider when choosing a side hustle. First, you must determine the amount of time, money, and effort you can dedicate to your endeavor. Additionally, you should choose something that aligns with your skills and interests to maximize your revenue and dedication.
Before you dive into monetizing your online presence, there are a few things you should consider.
Consider the Amount of Time and Effort Needed
First, determine how much time and effort you can commit to your new endeavor. If you are a busy professional, you may need to find a source of passive income. You can choose a more active job if you have extra time. Set a schedule for yourself and commit to a certain amount of time each day or week.
Consider if It Matches Your Budget
Some side hustles require start-up costs. Determine how much money you can dedicate to your new source of income and stick to your budget. If your budget is tight, consider how much money you stand to gain.
For example, if you want to start a blog, research how much bloggers make to determine if you are likely to earn back your investment.
Find Something That You Love To Do
You won’t perform well if you don’t enjoy your new job. Choose something that appeals to you. Whether it matches your current interests or has the potential to teach you something, select something you will feel good about doing. Assess your beliefs and values, and choose a position that aligns with your ideology.
Choose a Way To Make Money Without a Lot of Competition
Some markets are highly saturated. If you face a lot of competition, it may take a lot of work to stand out. Choose an untapped market without a lot of competition. For example, digital media marketing is a highly desirable service, but there are few qualified marketers in the field.
Look for Work that Aligns With Your Skills
If you want to start quickly, consider choosing a product or service that aligns with your pre-existing skills. For example, if you are a life coach, you may sell print-on-demand coaching products or wellness resources. Ultimately, your experience will go a long way in boosting your credibility as an entrepreneur.
How Long Does It Take To Make Money Online?
While some digital entrepreneurs earn money right away, others must wait to see results. On average, it takes one month to a year to make money online.
The time it takes to make money online will depend mainly on your existing skills, learning curve, mindset, and motivation. Remember that most things require time and persistence.
How Much Money Can You Make Online?
Your earnings will depend on your industry, skill level, and timeline. Additionally, consider your goals. If you are looking for supplemental income, you can start small. If you want to replace your day job, aim higher.
The most successful online entrepreneurs make between $100,000 to $1 million a month in revenue. On average, Americans with side hustles make $483 a month.
What Can You Sell To Make Money Fast?
If you want to make money quickly and efficiently, consider selling new or used products online. Thousands of online business owners make money selling niche products, like pet supplies or eco-friendly items.
These niche products have existing markets and are thus relatively lucrative for many people.
Many people choose to sell used clothing online. You can gather or purchase cheap used clothing from thrift stores and home sales and sell them on popular platforms like Etsy or Poshmark. You can start a used clothing business and create an independent website or digital storefront.
Jewelry is a timeless product that remains relevant across time and economic conditions. Selling jewelry online can take many different forms. You can learn how to start your own online jewelry business or sell your jewelry on a third-party platform.
You can make your jewelry or purchase used or new jewelry from a supplier and resell it. Consider choosing a niche, such as antique jewelry or earrings.
As prices rise and sophisticated technologies revolutionize modern life, the demand for electronics skyrockets. Many people cannot afford to buy electronics from big-name stores and look toward independent businesses or resellers to meet their needs.
Consider selling used or new electronics online to supplement your income or replace your current job, especially if you have experience in information technology.
There is a massive car market for both used and new vehicles, and everyone needs a car. You can sell your car on a social media marketplace or create a business buying and reselling used cars from other people. You can also partner with dealership affiliate programs and help them market their vehicles.
With the rise of standardization and industrialization comes a demand for unique, handmade goods. Consider creating a product of your own and selling it on a popular platform like Etsy. When your revenue begins to rise, consider starting your own business.
Alternatively, you can help other people sell their handmade goods and take a percentage of the profits for your services.
What Is the Best Online Money Making Site?
Once you have chosen your product or service, it’s time to build your storefront. You can make sales on a third-party platform or set up your website. The following online platforms allow users to create accounts and sell their products or services within minutes.
Choose one of the options below to get started.
Upwork is a digital marketplace connecting businesses with freelancers and professionals across many fields of expertise. Upwork is an all-in-one platform that allows you to create a profile, view available projects, bid on jobs, exchange documents, and receive payments. Upwork is excellent for service professionals and freelance content creators.
Like Upwork, Fiverr is a freelance marketplace that facilitates the exchange of services. Buyers pay for gigs in advance; when entrepreneurs claim them, they receive an 80% commission of the total price. Fiverr is a relatively new platform boasting growing popularity in marketing, web design and development, content creation, and more.
TaskRabbit is an online platform for physical services. With TaskRabbit, you can post and promote your services across different areas like cleaning, moving, furniture assembly, delivery, construction, and handyperson work. Any time a user searches for your particular skill, they will find your profile and can request help. TaskRabbit is an excellent way to earn extra money.
eBay is one of the internet’s oldest and most established reseller platforms. Making money on eBay is easy. Choose a popular product and post it on the platform. Buyers can then make instant purchases or place bids on your product.
eBay is best for marketing and selling physical products. Remember that eBay does set a 10-item, $500 income limit on new sellers.
eLance was a freelancer marketplace recently acquired by Upwork. However, Upwork continues to offer eLance jobs, typically long-standing agreements or positions available through the Upwork platform. With this platform, you can connect with companies seeking to outsource specific tasks and services.
There are many different ways to make money on social media. Social media influencers, for example, build large audiences and promote third-party products to earn additional income or commissions. You can also use social media to engage in organic or paid marketing for your products or services.
Etsy is the most popular reseller platform for handmade and used goods and clothing. On Etsy, you can sell your handmade goods or resell used goods. This platform is particularly lucrative for used clothing sellers and independent designers.
Selling on Etsy is easy. Create an account and post your items. Remember to use quality pictures and detailed descriptions to attract customers.
Amazon is a popular shopping platform for a wide range of digital and physical products. Selling on Amazon is a popular way to earn extra income because the process is relatively straightforward and accessible to users with little commercial experience.
Find product suppliers, create an account, and post your listings to get started. You can automate the process to earn money even when you are away from your computer.
How Can You Make Money While You Sleep?
If you are busy with a day job, family, or additional responsibilities, you may benefit if you create a passive income stream. A passive income means that you can earn money without having to put in long hours for it. You can even earn while you are sleeping!
Consider the following strategies to create a process for earning passive income.
Investing remains a surefire way to earn a steady stream of passive income. You may think of investing as the exchange of stocks and bonds, but there are many other sectors in which you can invest. Real estate investing, for example, is a lucrative way to make cash.
To automate your investments, use an easy app like Acorn or RobinHood. You can also make investments through a company like Charles Schwab.
Publish a Book or Course
Publishing a book or course requires extensive work on the front end, but once you finish your product, everything else is fully automated. To go this route, determine your area of expertise and find a platform like Amazon on which to sell your book. Once you publish, watch the money roll in without having to interfere.
Join an Affiliate Marketing Program
Affiliate marketing is a process whereby content creators and business owners market products for other brands. Affiliate marketers earn a commission with each sale made through their links or advertisements, so it’s an excellent way to earn passive income without investing the time and money it takes to start your own business.
How Can Beginners Make Money Online
If you are new to the world of digital entrepreneurship, there are several avenues you can take to get started. Consider leveraging your existing skills, conducting market research, selecting an easy reseller platform, or monetizing your current blog or website. Ultimately, even beginners can make money online.
Use Your Skills as a Freelancer
Freelancing is an excellent way to make money online. You can begin making money on Fiverr or Upwork without having to invest in your website or taking the time to learn new skills. Consider your existing strengths, create a profile on a popular platform, and identify the best positions for your skillset.
Do Market Research
Market research is an essential component of success in online selling. Start by searching for a niche. Then, assess your competitors and the products or services they are offering. Stay up to date on your research. Marketing and selling is an iterative process and requires constant improvement.
Selling things online is accessible with platforms like Amazon and Etsy. You can sell items you already own or begin buying from suppliers, individuals, or businesses and reselling their items. Before you begin, research key metrics like average prices, competitors’ statistics, and demand.
Become an Affiliate
Affiliate marketing is an easy and accessible way to earn money online. Most big-name brands have affiliate programs. You can apply to become a partner, market their products on your existing social media account or website, and earn a commission on each sale made through your platform.
You can quickly get started with dropshipping. Decide on what you want to sell, research your suppliers, and create a storefront on a platform like Shopify or Amazon. You don’t need warehouse space or inventory to start dropshipping since you acquire each item on demand.
Start a Blog
Blogging is easy and fun. Consider starting your blog and amassing an audience. You can earn money by monetizing a blog in multiple ways. For example, you can promote third-party websites or participate in affiliate programs. You can also sell your products through a blog.
Frequently Asked Questions
If you are still deciding which route to take, consider the answers to our most frequently asked questions below.
What is a great side hustle?
Selling products or services online is the best side hustle. You can create, market, and sell your products or partner with a third-party supplier or business. You can also partner with an affiliate program to earn a commission without the hassle of amassing inventory and shipping products.
What is the fastest money-making app?
The fastest money-making apps are Fiverr, Upwork, Etsy, eBay, and Poshmark. If you wish to sell services, consider using Fiverr or Upwork to advertise your freelance skills. If you want to sell products instead, choose eBay (for goods) or Etsy/Poshmark (for clothing and handmade crafts).
The key to making money online is acquiring the correct information. With this guide, you can start earning cash online right away. Every side hustle has the potential to earn money; success is all about persistence and knowledge. With a little patience and work, anyone can use the internet to make money, whether as supplemental cash or as their main source of income.
Have you successfully made money online? Let us know in the comments below, as well as tell us any questions you may have!