The 2019 Guide to Making Money Online

January 8, 2019
online business

In a time when the internet rules the world, it’s really important to take advantage of the copious ways there are to make an income from the web. In this guide, I’ll show you some tricks, tactics, and methods to start raking in side (or full-time) income through the internet. Seriously, if you’ve got some time on your hands, now is a great time to begin your online entrepreneur journey.

Of course, seeing success with any type of business takes time. Internet businesses are no different - you simply cannot expect to make money in your first couple months unless you are outstandingly brilliant or doing something illegal. It starts slow, but with time you’ll see results as long as you put in the work.

My first month doing Amazon FBA, I made $5. So essentially I lost money. And the next paycheck was $50, and it sorta ballooned from there…

I’ve also started online businesses and gave up on them after a short while. I was wrong to do so, because I didn’t see results after one round of Facebook ads. The thing with Facebook ads is that you’re going to lose a ton of money at first because your target audience isn’t calibrated. With time, you’ll run A/B campaigns and slowly tweak what works. Your ROI will get higher and higher until it passes that breakeven point.

So after you’ve given thought to staying consistent at your new business or project, then you’re ready to start. Expect to lose money at the beginning!

Here are some of the top ways to make money online in 2019.

amazon fba

1. Amazon FBA

Fulfillment by Amazon (FBA) is one of the most passive business opportunities one can have in this current era. Essentially, you are sourcing products, putting your brand label on them, and selling them on Amazon.com. After you get your products made, you send them to the FBA warehouses, where they are stored. Whenever a customer purchases your item, Amazon workers will pack and ship the product for you. If the customer has any issues, they also take care of the customer service.

So really, this can all be done from your laptop in Thailand.

Expect to spend a ton of time researching proper products, contacting factories, spending cash upfront to make and ship your product to the states, and creating the perfect listing. It’s a lot of upfront work that can reap benefits for your long term passive income.

It is sorta risky in that you need to buy a bulk number of units, and if you cannot sell them then you’re stuck with them.

But besides that, there isn’t much else risky about it. I got my first product up and running with $1,500 or so.

This is seriously the thing I recommend doing if you’re looking to build a side business that can be managed from anywhere in the world.

bigcommerce.com

2. Affiliate Marketing

I’m convinced affiliate marketing is a future-proof way of making money online. This means that if you start building your affiliate marketing business now, it will reap benefits way down the line - as long as the internet is still a thing.

Affiliate marketing is promoting other people’s product using your own affiliate link. When someone buys a product after using your link, then you’ll get a certain chunk of the sale.

For example, many virtual products, such as VPNs, real estate online classes, even online shops from Nike, Amazon, etc pay people who refer business to them. Amazon gives affiliates a certain percentage of the sale price - that’s why so many people promote products from Amazon!

Online courses or services will often have much higher affiliate compensations. I’ve seen $1000 courses have 50% commissions!

To get into affiliate marketing, you’ll need some type of audience. Blogs, YouTube, review sites, and newsletters are really great ways to start getting some eyes on your content. After that, all you have to do is plug your products and generate passive income!

It takes a long time to get the traffic required for making lots of money. You’ll need to build your audience, and that takes time and consistent content creation. I don’t expect this blog to make me a single penny until a few years from now!

The benefit with affiliate marketing is that it is here to stay -- companies will always pay other to refer people to their products. You also need no upfront investment, and you don’t need to deal with customer returns, etc.

3. Start a Service-based Online Business

I do not have much experience with this, but I have friends that have become very successful building their online businesses these past few years. By online businesses, I am referring to Social media marketing agencies, SEO agencies, Ad agencies, Website building services, and more.

These types of businesses can be run from anywhere, and required you to have strong knowledge in a particular field. For example, if you are starting a Facebook ad agency, you better know how to create profitable campaigns that generate positive ROI’s!

With everyone trying to start a business these days, there is tons of demand for online services that help market people’s businesses. Remember, sales are what generate revenue for any business, so there will always be people looking to better market their products.

Of course, you’ll need to find ways to bring in clients. The more clients you have, the more monthly revenue you’ll bring in. Finding clients is tricky, but I’ve seen great results come from social media outreach (Facebook groups, Instagram, direct emails).

4. Build a course

The hot trend these days is to build an online course that you can sell to others - it can be in literally any category. If there is a demand for a certain type of knowledge, then there will be people buying courses.

If you’re particularly experienced in something, then creating a course may be a great way of bringing in extra income. The drawbacks is the huge initial time investment in creating the course with no guarantee that anyone will actually buy it. However, it becomes largely passive after you are done creating the course, as each sale is pure profits and requires nothing on your behalf.

Realistic course topics include: Real estate investing, Home flipping, Creating FB ads, Starting _____ business, and more. Anything of value that can help your students generate income is perfect for a course, as they will be willing to invest in their own education.

You can upload your course to a website like www.teachable.com, which is a professional way to deliver your course to students. I’m currently taking a real estate investing course that I purchased for $200 that is hosted on this website, and it has been great so far!

69%
Entrepreneurs start their business at home

There are tons of other ways to make money online, but I don’t recommend most of them. If you search “Ways to make money online” you’ll see tons of posts pushing you to do online surveys, watch videos to make money, and small tasks like that. Yes, you’ll make money doing those, but they are hardly worth your time. If you break it down hourly, you’ll generate far less than minimum wage doing those types of things.

That’s why I recommend doing one of the above things to generate money. Yes, they are all more risky than staying at home and doing online surveys for $2 each, but the payoffs are gigantic.

And one extremely important piece of advice - stray towards niches if possible. Never cast a wide net to a general audience when you can hone in on a specific type of customer or client. Specialists will always be paid more than generalists!

Instead of starting a dropshipping store that sells every type of product in existence, open one that sells something to a very specific customer. For example, a store that is aimed towards US Veterans who have tons of patriotic pride and enjoy tactical gear. Or a store that sells accessories to owners of older BMW’s. It is much cheaper to target ads at a very specific customer.

Be laser focused on your business - my favorite saying has stayed with me since I read it in a book about a year ago: a 100 watt light bulb will light up a room, but a 100 watt laser will cut through metal.

I wish you all the best of luck this year on your online businesses. Don’t get sidetracked. Stay focused on the goal and don’t expect to make money right away. If you stay consistent, you’ll reap the benefits. Start planting the seeds now and harvest later.

charlie chang the finance habit

Hi, I'm Charlie

Together we're building a community that values hard work and financial prowess. Live life in the money lane!

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