There are dozens of legitimate ways to make money online. Some are more passive than others. But if you’re looking to replace the income from your day job, many won’t come close to doing that.
An easy example that comes to mind is taking online surveys. Which, since I brought it up, you have to be very careful about, because many of those are scams.
You’re welcome. 😉
In this article, I want to present to you four different online business models that could be making you several thousand dollars a month within the first year. I say “could,” because realistically, most people who aim for that goal take two years to replace the income from their job. There’s a lot of competition in every area of online business these days, so it often takes more time and hustle to get to where you want to go with the one you embark upon.
That said, there are more than a handful of people who have succeeded in replacing their job income within a year of starting one of the following online businesses. However, I don’t like hype, and I’m not going to produce hype and get your hopes up.
Even if you really hustle with any of the following ideas, it will probably take more than a year to replace your current job income with any one of them. BUT – once you do, you will spend a lot less time on your business than you do on your job! So your efforts will pay off handsomely…and not just in the financial realm.
Business #1: Blogging.
The trick to making money with a blog, besides actually enjoying the process of writing, is choosing a topic that many people are interested in. How do you know that a lot of people are interested in a certain topic? Ironically, when you type the topic into the search engine there will be multiple pages of websites dedicated to it.
In other words, a good topic to write around is one that already has a decent amount of competition. Take heart: there are a lot of people browsing the Internet, and there’s always room for your unique voice.
Commit to writing two to three articles per week that are between one and two thousand words. Monetize your blog at the beginning with affiliate products, or by selling your own products, because many advertising services won’t let you put their ad code on your site until your blog has been live for so long, or is getting so much traffic per month.
Google, for example, won’t let you install their Adsense code until your blog is at least six months old.
Promote your blog with Pinterest, and/or with backlinking. Search “how to market my blog with Pinterest” and “the best backlinking strategies for 2020 (or whatever year it is)”. You might join and participate in a few Facebook groups related to your blog’s content to boost your initial traffic, as well.
Above all else, remember to write content that your target audience is going to be interested in. Answer the questions they’re asking. If you’re not sure of the questions they’re asking, use a keyword research tool to find out. And/or lurk around at online forums and on related Facebook groups.
Business #2: YouTube
There are two things you need to understand straight-up about the YouTube algorithm as it currently stands: it likes channels that upload at least one video a week best, and it likes videos that get engagement – i.e., comments and thumbs-up/thumbs-down clicks.
You also need to know that if you plan to make money with Adsense, you currently need to have 1,000 subscribers and 4,000 hours of view-time before YouTube will let you apply to be an Adsense partner.
If you want to be making a full-time income with YouTube within the first year of starting your channel, you either need to choose a niche that has big-spending advertisers, such as finance or business, or a niche that will bring you tons of viewers on a regular basis. This is hard to predict. Right now one of the big trenders is people living in vans or in tiny houses. Interest in homesteading has grown in the past few years, as well.
Entertainment channels tend to do well. If you’re a natural comedian or a musician, or if you have friends who will get together with you and perform outrageous stunts, this might be the way to go.
There are services on Fiverr who will promote YouTube videos. It may be a good way to boost your initial viewership and get your first few subscribers.
You will also want to create and upload at least three videos a week if you’re trying to make a full-time income on YouTube within the first year.
You don’t have to count on Adsense for income. If you’re an entertainer, you could set up a Patreon account (which allows people to support you with small, monthly donations), create and sell merchandise (T-shirts, etc.) that carry your channel brand, and/or promote affiliate products.
If you’re aiming for a full-time income within two years, you have more wiggle room as far as what you do on your channel.
Business #3: Freelancing.
Are you a good writer? Have you developed the ability to crank out beautiful, eye-catching graphics with Canva? Maybe you actually have a degree in graphic design, have a soothing voice, or are an expert at creating and editing all kinds of videos.
If so, people are looking for your services! They are looking for people to write articles for their blog, ghost-write books, design blog headers and book covers, voice the intro for a podcast, create a video to market their product.
And those are just a smattering of skills and talents that represent the freelance world. Start a blog and a YouTube channel showcasing your skills and expertise, hang out in the right groups on Facebook and LinkedIn, join sites like Upwork, Guru, and Fiverr, and as long as you’re consistent, persistent, and reliable, you’ll eventually find clients who want to hire you for your services.
Business #4: Podcasting.
To begin podcasting, all you need is a $200 digital recorder and a closet with a light. Eventually, you’ll want an actual audio mixer and a microphone so that you don’t have to stay in the closet for acoustic purposes, but you can start small.
Choose a popular topic that you know you’ll either be able to speak upon for at least twenty minutes per week, or that you’ll be able to find an unending stream of guests to interview about. Use a blog, Pinterest, and social media to market the podcast.
Eventually, you want to have enough downloads of each episode to attract sponsors who will pay you to mention their company or product on your show. You can also ask for listener sponsorships through Patreon, and/or promote affiliate products or your own products.
Get ready, get set…
…RESEARCH! LOL. Because of course, there are a whole lot of other details to learn about each online business model if you want to start off right and not flounder.
At least, not as much as you might otherwise flounder.
But if you get to it, the basic research to get yourself started shouldn’t take more than a week or two. And then, if you want to be able to quit your job within the next two years, you’ll have the tools you need to do so.