Making money through the Internet wasn’t a luxury people were afforded two to three decades ago. Today, however, it’s as legitimate as a brick-and-mortar business when it comes to generating income. There are many upsides to making money online – convenience and being able to telecommute, minimal overhead costs, and uncapped profit potential if you have the right business idea. Keep in mind, however, that not all online ventures are created equally. Some tend to make money while others just create problems for you. Here are five legitimate hustles that can make you money without requiring you to leave the house:
Write Articles
Writing articles and blog posts is a common way to make money online. You need only a computer and stable internet connection to start. This is a good hustle for someone who has a passion for writing and has a knack for learning about new topics and being able to describe it in a relatable way and in great detail. Writing articles can make you anywhere between $10 up to $50 per short post. Orders that require as much as a few thousand words, such as academic papers, can pay as much as $200.
Deploy Your Own App
Yes, apps are the new goldmine in today’s increasingly digital world. You have apps for anything and everything under the sun, from monitoring vital signs to ordering food to hailing a cab. Building and deploying an app is a great way to make passive income, whether it’s by charging for monthly membership or a one time download fee on the App store. If all else fails, you can always monetize the app through affiliate marketing and ads. The potential profits you can make on your app depends on several factors including how much it costs you to maintain and ship, market size, and whether or not it solves a problem that is worth solving.
Build Sites For Other People
Working as a contractor or freelance web developer can be a lucrative online gig. People need websites, and it’s not just a one time thing. They need professionals who can build and maintain their site for them. You can make money charging as much as $100 for a few hours of your day to maintain the site, debug the codebase, add an product order management system, and introduce new features and updates. You can start going through listings in Angel List, Craigslist, Indeed, and other online job portals for a web developer position.
Resell Items
Who says you need a product of your own to start selling and making money online? Many entrepreneurs make a killing by reselling products that other businesses are offering. Start by doing some research on what products are trending and what is expected to trend in the next several months. One way to do this is by using Google Trends to see which keywords are being searched for by millions of other users who are searching the web. As an aspiring reseller, the key to success is identifying the product that everyone wants or will want soon.
Day Trade
Day trading is unarguably risky, but it can also be a lucrative business if you have the discipline and the capital to start with. Although most brokers today allow you to trade with as little as $50 in your account, being underfunded tends to be a huge detriment to day trading success. It forces you to take riskier positions and trade more frequently to try and scalp a livable income from the markets. On the other hand, if you have $50,000 in your account to day trade, you can safely pursue a one percent return per day.
Final Thoughts
Each online money-making venture has its own pros and cons. Make sure to choose a hustle that aligns perfectly with your strengths, passion, and financial resources. Also, avoid pursuing multiple businesses or sidelines at the same time. Instead, focus on each venture and then expand to new channels afterwards.
Leave a Reply