8 of the Best Ways to Make Money Online in 2020

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best ways to make money online

Best Ways to Make Money Online in 2020

In this article I will be exploring some of the best ways you can make money online in 2020. All you need is a laptop or smartphone, a bit of free time, and you’re good to go.

Summary

Whether you’re a student looking for extra income, or a stay at home parent searching for a way to bring more money into the household. There are more opportunities than ever to make money online in 2020.

In this article, I will be examining 8 of the best ways to earn some extra income using your smartphone or laptop, but this is just the tip of the iceberg! There are literally 100’s of opportunities out there, and the great thing is, you can start today.

no need to worry there a plenty of ways to make money online

So what is the definition of making money online? Basically as the name suggests, you earn money by performing online tasks (such as surveys or reviews), promoting products (affiliate marketing) or offering services (freelancing). The internet is evolving at an incredibly fast pace and as a consequence, competition is fierce amongst businesses.

These businesses are willing to pay people to do things like take surveys, review products, websites and apps. There is also the very lucrative business of Affiliate Marketing – this is where you promote products or services through social media or a blog.

So, without further ado, we’ll get stared with my favourite way to make money online – Affiliate marketing.


Affiliate Marketing

Affiliate Marketing is where you promote a business’s product or service using an Affiliate Link. If someone clicks on that link and makes a purchase, you receive a commission for that sale.

All the big E-commerce giants like Amazon, eBay and Aliexpress all have great Affiliate Programs, and there are literally Millions of different products to promote.

make money affiliate marketing

This method can be done in many ways. You can promote products through social media, you can create a Free Blog or YouTube channel. The earning potential is fantastic, and whether you are just looking to earn a bit if extra money to pay bills, or looking for a full-time work from home business. Affiliate Marketing when done correctly can be one of the best ways to make money online.

My favourite aspect of Affiliate Marketing is the fact, that once you have put in the work setting everything up, you can earn a passive income online. Meaning that you will earn money on auto-pilot.

Read my full article on Affiliate Marketing, and how it works.


What is Online Arbitrage

Online arbitrage is a great way to work from home and earn money online. It involves buying products (like books) from online marketplaces like eBay, Gumtree, Facebook etc. And then selling them on for a profit on Amazon, or specialist niche websites.

How much money you can make really depends on your niche. I used to practice this method myself a few years back. My niche was vintage motorcycle parts, and the primary marketplace I used was eBay.

what is online arbitrage

Here’s how it worked for me:

  1. I would look for vintage motorcycle parts that were in demand – I will use the example of a set of Carburettors for a Honda CX500.
  2. I would look for relevant product listings on eBay, Facebook or Gumtree, and purchase as many as possible at the lowest possible price.
  3. Quite often these would be dirty and need cleaning / reconditioning. I would thoroughly clean these Carburettors and replace worn parts if necessary.
  4. Once they had been recondition, I would then re-listed them on eBay, and would often make £30 – £40 profit per set (after eBay fees).

This business model can be applied to practically anything that is in demand within a particular niche. Certain books for example can yield a very high return, especially when selling on Amazon.

The basic principle is buy low, and sell high. But you need to do your product research thoroughly beforehand. The last thing you want is to end up with a load of stock that nobody wants.

Another thing to consider is the selling fees, Amazon and eBay seller fees will make up a significant portion of your expenses, so make sure you factor this in beforehand.

Digital Arbitrage

This method differs from the above, as you are not trading in physical products. One of the most common forms of digital arbitrage is buying and selling online freelance services.

The idea is relatively simple, you choose a niche like Website design. Your client hires you to build a basic website, maybe with a few pages. You go to somewhere like Fiverr or UpWork and find a good freelancer to create the website. Let’s say you quote $500 for the website, and your freelancer charges you $350. Providing you have chosen a good freelancer to do the job, and your client is happy with the work, then you have made a tidy $150 profit!

This business model can be applied to almost anything from Web design, through to content writing. Some people make a full-time income just doing this, and the great thing is, you don’t need to do any of the work yourself. You are simply sub-contracting services out to a third-party.


How to Start Freelancing Work

This is a great way to earn extra money, and the great thing is you don’t really need to have any experience. If your not familiar with Fiverr, it is an online marketplace where freelancers sell their services. This can be website design, logo design, video voice-overs, content writing, video creation, sales funnels and much, much more.

how to start freelancing

There are a couple of different ways you can approach this. The first one is digital arbitrage (the method discussed above). The second is actually doing the work yourself.

If you have a particular skill, and you can provide value and above all a good service to your client, then it is worth looking into this further.

Do I need experience to be a Freelancer?

If you are resourceful, you don’t particularly need a lot of experience to get gigs on Fiverr. But you will need to have a good understanding of your clients needs. Remember, a good reputation can be hard to get, but very easy to lose.

Thankfully, there are many tools available online for things like web design, app development, video creation and so on.

content samurai free trail

Fiverr and UpWork are incredibly competitive marketplaces. As a beginner, you will not have any feedback, so you won’t be able to charge as much for your services as someone who has been doing it for years.

Setting up your profile is important, as it is your sales pitch to your potential clients. If, for example you are specialising in Facebook Videos ads, you will need to show examples of your work.

>>>Try out Fiverr Here<<<

There are loads of people earning great incomes from doing gigs on Fiverr and UpWork. If you are looking at this as a potential full-time career you will really need to set yourself apart from the competition.


Start a Website Business

In an era when everyone has a friend or family member that designs and builds websites, web design can be an incredibly difficult thing to get into. So you need to box clever. Ideally you should have some experience building websites, and some basic SEO knowledge. But as general design is concerned, there are many ways you can get beautiful and professional looking website templates, ready to go.

how to start a web design business

I wouldn’t focus too much on building websites from scratch, but actually offer a service of giving old websites a makeover. It’s a fact, that a lot of small business, simply let their websites go, and do not update them to give them a more modern look and feel.

With modern websites, the emphasis is on user experience, and visual appeal. If a company has an old-fashioned website, that looks like something from 2005, it isn’t going to convey the right message to the visitor.

One of the best ways to get clients, is by choosing a handful of particular business niches. Generally, things like Dentists, Lawyers / Solicitors, Estate Agents / Letting Agents, Tradesmen (Plumbers / Mechanics).

Web agency fortune don for you website templates

Perform a Google search for the keyword Dentist in the city or town you want to target – e.g. ‘Dentist {city}’. Go down to the second page, and examine the websites that are in the top half.

Make a list of the top four business on page two, and then go over to a website called WooRank. Copy and paste the URL of each business, and run a website analysis (this is free to use). WooRank will give you an overview of the website, including errors, speed, mobile compatibility and other metrics.

Below are some screenshots of an analysis, showing various errors, including missing keywords and no SSL certificate. These issues will be detrimental to Google ranking.

screenshot of website analysis

You can download this report into a PDF file, and use it in your sales pitch. WooRank will give the website a total score out of 100, quite often I find some of these websites are getting low to mid 40’s in their scores. It is common to find important keywords missing in the meta description.

screenshot of website meta description analysis

Another thing to take note of is the overall design of the website. Does it look a little out-dated? If so, you can offer your services by not only giving the website a modern makeover, but sorting out other issues that may be causing them to rank on the second page.

website analysis example missing SSL certificate

As you can see from the above screenshots, this website needs work. It is currently on the 2nd page of Google for the primary keyword in this particular niche in this area. With some minor tweaks and a makeover, it could be ranking on the 1st page. These are the kinds of customers you should be targeting.

Web Agency Fortune Vol.1 – the ‘done for you’ website solution

I have been experimenting with this WordPress-based suite of website templates recently, and I have to say i’m really impressed. For $37 you get access to multiple ‘done for you’ website templates in 10 popular local business niches. It is based around the Divi commercial WordPress theme and uses a front-end drag and drop page editor.

You simply install the theme, and upload the templates to the library.  Once you have the templates, you can then edit them to include you clients details – all very simple and straightforward. But as I have said before, you do need to have some experience building websites. If you are a complete novice, I would spend some time learning your way around WordPress, honing your skills and maybe building a couple of free Websites beforehand.

>>>Check out Web Agency Fortune Vol.1 Here<<<


Domain Flipping

This is more of a long-term money making strategy. But once you get the ball rolling, you can earn a decent income from it.

Website domain names can be looked upon as ‘digital real estate’, and if you register domains that are in up and coming niches, then there is a good chance you will make a decent profit in future.

There are several ways you can do this: You can go somewhere like Namecheap.com or GoDaddy and register a new domain that is related to a specific niche.. e.g. Dog Grooming. New domain registration can cost as little as $1 (for the first year). Due to the ICANN Policy, you will need to wait 60 days before the domain can be transferred, but once you have built up a portfolio of domains you can then list them for resale on sites like Sedo.com.



Another option would be to go on a site like JustDropped.com and purchase an expired or abandoned domain. Here there are some amazing bargains to be had. They are usually the more desirable .com domains, and as some of these domains may have been registered years ago, they have a certain value, due to the Google-friendly nature of a previously used domain.

Before you purchase or register a domain, you can go to GoDaddy or Estibot to get a valuation of the domain. Remember, though that it is just a valuation. You will only actually get what somebody is willing to pay.

With the 1000’s of TLD’s currently being made available, some .com domains may not have the same value as they once did, and some may become even more desirable (much like a rare vehicle registration number).

Branding Domains

Another take on the above idea, is instead of just buying and selling a domain. Purchase or register a domain within a particular niche and build a basic starter website based around that niche. This could be an E-Commerce store, an affiliate site or blog.

Build a brand around the domain, by either designing your own logo, or going on Fiverr to get a professional logo designer to come up with something.

Once finished, you then advertise your website on somewhere like Flippa.com and potentially sell it on for a handsome profit. Some good starter sites can make $2000-$3000 dollars.

If you can get the site established and get traffic to it (and even make some sales) then it becomes even more valuable. Try and concentrate on popular niches, as anything obscure is unlikely to generate much interest.


How to create Online Courses

This can be a very good way to earn a living. Obviously you will need to be creating outstanding courses on a subject you have a good degree of knowledge on. As with any product, ultimately you will need to be providing value.

There is certainly a lot of money to be made by creating a course, but this is highly dependant on what niche your line of expertise is in. With digital marketing for example, people will pay good money for a course that is proven to get results.

how to create online courses

Let’s say you have many years experience in successfully running your own E-Commerce store, and you have a formula that works. If you can create a course based around your knowledge and experience, then you could potentially sell this course for a few hundred dollars (if not more).

The great thing is, this can be applied to any niche. Web design, Affiliate Marketing, DIY Car mechanic, knitting, Dog Grooming – the possibilities are endless!

So how do you create an online course? One of the best places to start is go to a website called teachable.com  – they have all the knowledge, resources and help you will ever need to get started.

Being able to share knowledge is rewarding in many way, and making an income from it is a bonus. We all have value to give, through our life experiences. Sharing that value with other’s is a great way to make money online.


Paid Surveys

Opinions count, data is everything, and companies are willing to pay people for their opinions. Taking online surveys and getting paid for it can be quite a lucrative sideline. As long as you can handle spending a few hours every day doing this somewhat monotonous task, there is the potential for earn a nice side income from it.

If you have the spare time, you can actually earn a decent side income from paid surveys. There are several different networks that specialise in online surveys. The most trusted one is Swagbucks.com. You can sign up today and start earning money online straight away!


Get Paid for App Testing

Smartphone Apps are being released constantly, and most brands will have an associated app. These companies are willing to pay people to test these apps and give their opinion on the app functionality and other aspects.

Getting paid to test Apps, can be a great way to make a side income. But, as with surveys it really depends on how much time you are willing to sacrifice.


Conclusion

There are going to be lots of new ways to make money online in 2020. As we all spend more and more time on the internet, and less time actually going to physical shops, I can only see that the opportunities will become more widespread and diverse.

The giants of E-Commerce always want more traffic, more data, more leads, and ultimately more sales. And if you can become a part of this, there is plenty of money to be made.

The internet has completely revolutionised the way we shop and buy services, and it’s not showing any signs of slowing down.

The online world is absolutely awash with opportunities to make money, it’s just a case of finding your niche and going for it!

Thank you for reading this article, and please feel free to leave a comment below. I usually reply within 24hrs.

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