Roughly 70 percent of businesses start out of the homes of entrepreneurs, driven, in large part, by the ease of making money online. When it comes down to it, an aspiring startup owner can begin with nothing more than a laptop, a Wi-Fi connection, and a good idea. Combine these three things with the ever-expanding digital landscape and the opportunities are limitless.
Anyone entertaining the idea of pursuing a home startup should survey the market to see what opportunities align with their interests or if creating an entirely new industry is their calling card. To help in the process, here are a few ideas for making money online that others have leveraged to achieve success.
Create a blog
Blogging is one of the most cost-efficient ways for entrepreneurs looking to build an online source of revenue from home. Numerous platforms exist that allow users to sign up, create a blog, and start posting for free. They also enable users to upgrade to paid versions, complete with their own domain name, when sites start to take off.
Businesses of all types lean on blogs as a way to draw attention to their websites. The nature of posting on a predictable basis enables these sites to rank higher in Google’s algorithms. However, anyone interested in starting a blog can do so without any connection to an organization. In fact, well-run blogs can generate tens and even hundreds of thousands of dollars each year.
The art of blogging comes down to committing to a subject and striving to continually improve each piece of content. As readership expands, the owner of the site benefits from businesses that will want to advertise, either through affiliate links or perhaps by mention in a post. Because of the versatility of the blogging platform, this opportunity is open to anyone who has a passion and wants to write about it.
Write an e-book or audiobook
Perhaps after a successful run with a blog, or maybe even to start with, you might consider putting your writing out for public consumption in book form. The tools available in the digital age make it possible to not only create an e-book or an audiobook, but also to self-publish and self-record. Writing a book is time-intensive up front, but after completion, the final product can be a way to earn passive income.
Both Kindle and Apple have platforms for making self-published works available to the public. As with blogging, there is no limit or restriction on what one can write about. Some entrepreneurs have success with a new novel, while others can achieve equal returns by writing technical books, such as tutorials on specific computer skills.
Many authors have begun to turn to the audio medium, as audiobooks are quickly gaining popularity. In addition to being a trending market, these books give the writer an opportunity to put more of his or her personality into the final product. Reading an original work might, therefore, be a more fulfilling way to generate income using online tools.
Become a freelancer
Another option for writers and creators of all types is to freelance from home. For many, this route serves as a path for learning the online market before venturing out on a solo project or business. Additionally, freelancing allows people with developing skillsets to hone their talents.
Freelancing typically consists of completing writing tasks, such as content creation, proofreading, or editing. However, there are as many opportunities for people with skills in graphic design, web development, and even accounting. Sites like Fiverr connect individuals with these abilities and customers on a daily basis, allowing people buy and sell online at their convenience.
Build a YouTube page
When YouTube first launched in 2005, it’s unlikely anyone could have predicted that in a few years people would leverage the platform to produce their sole income. The popular site for sharing videos has even made it possible for individuals to surpass a modest salary and become millionaires. One reason for the success of YouTube (and ‘YouTubers’, as they’re called) is that anyone can find an audience.
Building a YouTube page requires a long-term commitment because the chief way of making money depends on establishing a large following. Entrepreneurs may wonder what strategies they should employ to attract subscribers. One of the best ways to do this is to simply pick a topic of interest or an area of expertise and stick with it. The most successful YouTube channels are the ones that can carve out a niche.
YouTube creators should also strive to post new content on a frequent basis. This will help with the more specific ways of making money, which include ad revenue and sponsorship. By monetizing their videos, online entrepreneurs give permission for ads to play before their content. Thereafter, they receive revenue for any clicks generated. Sponsors also know the value of getting their product mentioned and highlighted by YouTubers, and they will pay for these services.