How to make money online – Forbes Advisor INDIA
In today’s highly modern and technologically advanced world, we now have the Internet where we can easily search for anything we want. From a certain product to a person or place, you can rely on your device to display thousands of relevant results. Among these, an important activity for which the Internet can help you is to earn money. You will find plenty of options, even if you don’t search hard.
What makes it even better is that you can take this path even if you are a student, a parent who doesn’t have time to go out, or someone who doesn’t have a lot of qualifications. Here’s how you can actually make money online.
Sell products online
Considering the size of the consumer market in India, it would be a good idea if you started selling products online. This means entering the realm of e-commerce. If you do not yet know what e-commerce is, it refers to the online market. Platforms like Amazon and Flipkart are some examples.
Coming back, there are a lot of things you can sell. You are basically presented with limitless choices if you plan to start this gig. Not only that, but you’ll also be glad to know that you’re managing your own time. Unlike physical stores, you don’t have to deal with early opening hours and late closing times. You will also save a lot since you won’t need to hire a lot of manual workers.
For products, you can make your own or source from manufacturers and other suppliers.
Start an e-commerce store
Starting with the most common, we have: starting an e-commerce store. You can build your own website if you have the budget to invest in website building tools or services. This is recommended if you want to increase your brand visibility and awareness, as online users can see you even without specifically typing your brand name.
If you are not yet ready to invest in a website, you can opt for a social media-based store. It’s actually a thing these days. Here, you or the company will simply create an account on Facebook or Instagram, and that’s where they will post their product photos. Both social media platforms already have built-in messaging platforms, so connecting with curious customers won’t be difficult.
Dropshipping is one of the latest trends in online sales. Here, there is no need to buy products in bulk from your suppliers and manufacturers without having the assurance of being able to resell them all. This eliminates the need to have a physical room for inventory, which is one of the major expenses of a physical store. Instead, you only buy a certain item after a customer places an order.
Here’s how dropshipping works:
- You create a website containing your dropship supplier’s products.
- A customer places an order on your website.
- You place an order on your dropship supplier. You just need to buy the certain quantity requested by your customer. Depending on the payment method, you can first use your own money or the money you received from your customer.
- Once your dropship provider confirms the order, they will process shipping and delivery. So expect that you will need to send the address and other personal information that your client has provided to you.
Don’t forget to mark up the product prices of your dropship supplier. This means raising the price. It will serve as your profit for each item you sell.
Offer your skills and services
Freelancing is another effective way to earn money online in India. This area is all about offering your skills and services to the online customer market. It covers a wide range of industries, including marketing, education, and those within the creative industry, such as writing, filmmaking, and design. Basically, if you’re talented at something specific, you can expect to find some freelance work for you.
If you want to start doing this, you can, again, create your own website. If you want the cheapest and most effective way, you should consider signing up for freelancing platforms, such as Fiverr, Upwork, and Freelancer.com, to indicate the most popular ones.
If you want recommendations, here are some of the more commonly used services you can offer:
Writing, transcription and translation services
If you are good at working with words, writing articles, creating stories, doing product descriptions, or anything else related to writing, you can offer freelance writing services. You can write under your name or someone else’s name if the concert description includes ghostwriting. In any case, the minimum rate starts at 0.5 paise.
For those who don’t do too well with article writing but still want to work in a related field, how about offering transcription services? Here you just need to type in what you hear from the recordings. Depending on the client, you may need to work with a video or a voice clip. The minimum charge for this starts at INR 200 per hour of transcription.
Another option, if you are proficient in languages other than Hindi, you can offer translation services. The most common gig involves Hindi-English and vice versa. Projects, on the other hand, can range from short-term documents to full books and stories. The rate starts at 0.5 paise per word.
If you are knowledgeable in the field of marketing, or even better, if you have previous experience in the field, you can offer freelance marketing services. Since we are talking about online services, you will mainly have to deal with digital marketing strategies if you start specializing in this gig.
Offering marketing services comes in many forms. Depending on your expertise, you might offer writing and sending email marketing content, managing social media platforms, or managing a brand’s affiliate system. This position is paid hourly and will depend on the actual job description. The good thing about this is that it comes with several opportunities for a full-time position.
Note that this gig usually has higher requirements compared to other freelance jobs. You must have something to back up your claims, such as a related degree, experience, or certification. If you don’t have one, consider attending seminars that offer certificates of completion to get started.
People who are good at digital design can offer logo design services to businesses, brands, and general public figures. You’ll need to combine that talent of yours with the ability to come up with innovative ideas and have a good eye for aesthetics to set yourself apart from the competition. One can actually earn a lot from here, given that the minimum rate is INR 100.
You don’t have to immediately invest in expensive design rigs if you’re just starting out. Consider this once you already have enough customers and are generating a rate above the minimum.
For those with exemplary skills in time management, multitasking, and basically learning all the tricks of the trade without being spoon-fed, being a virtual assistant may be one of your best bets.
This can be a part-time or full-time position, but it’s usually the latter. The good thing is that beginners still have plenty of opportunities to start becoming one, even if they literally have no experience. There are also plenty of earning opportunities due to the high rates offered. At the very least, all you need is your own gear, especially office and work headphones.
Become a content creator
Do you have the ability to attract an audience through your personality? How about expertise in a certain area? Being a content creator may be the answer to your extra income needs.
This is a rather slow career because you will have to invest a lot of time before you can expect high and stable income from your platform. You also have to put in effort because you have to think of new ideas for the content you will post. Not to mention that you will also need to edit photos or videos to effectively achieve your goal.
You can earn from creating content through ads, sponsorships or the creators fund provided by some platforms like Youtube, Tiktok and other social media sites.
Content creation can be done in several ways. Here are some of your many choices:
Creating videos is one of the best ways to get your name out there. You can create long videos on Youtube or short sketches on Tiktok. Any content will be fine, actually. You can just choose the one you like the most.
Keep in mind that you will also need to know how to edit videos if you want to make your video as engaging as possible.
Start a podcast
If you don’t really like filming yourself and are more of a speaker, why not start a podcast instead? This is usually done on Spotify for the widest possible audience, but you always have the option of turning to Youtube or other social media platforms. Again, you can just talk about what you feel comfortable in.
Don’t feel like filming or recording anything? You can always write a blog about your trip and your experiences. You can also simply share knowledge about your audience. Either way, all you need to start blogging is your own website.
Examine your possible investment choices
If you are looking more for passive income rather than something that requires a lot of effort, you can always start investing. You will need capital to get started, because investing essentially means making your existing money grow.
Here are some platforms you can invest in:
Above all, remember that investing is not “easy” money. It comes with a lot of risks, and if you don’t make smart decisions, you can end up losing the money you invested.
To sum up, some of the best ways to make money online include selling products online, offering your skills and services, creating content, and last but not least, investing.
To choose the source of income in which you want to specialize, you must take into account certain factors. For example, start by knowing your expertise. Ask yourself questions such as “What qualities and skills do I currently have?”, “What am I best at?”, “What do I want to do?” and “How much can I invest in tools and platforms to do this specific gig?”.
It’s best to start with just one gig at first, especially if you’re new to the game. Over time, you can take on new gigs or just focus on growing your existing career.