5 Best Ways to Make Money Online

5 Best Ways to Make Money Online

In this article, you will find the 5 best ways to make money online. The concept has been taken from the book the Barefoot Executive by Carrie Wilkerson. In this book the author explained the creative ways to earn money online.

I believe, these ways or models can help you to earn money online if you pick up the right one.

You must choose the model which is related to your skills and capabilities. I ensure you, in this way you can achieve your financial goals very quickly.

All these are the legitimate ways to make money online and you will be able to make money fast today.

Why should you make money online?

As in this digital era, more and more people are getting involve in online business.

From buying and selling of products to providing services are now taking place on internet.

The important thing is that, if you have internet you have access to the whole world and that is the most essential thing you need.

You can start any business online from home. There are real ways to make money from home and a lot people are doing the same.

If you start a business online it will be a step forward towards financial freedom and the life you want.

How to make money online for free? How to make money online without paying anything?

The author in this book illustrated 5 best ways to make money online. These methods are almost free or low-cost you don’t have to invest too much.

Even if you don’t have skills you can learn online. There are a lot sources to learn the useful skills that needed for doing business and earning money from internet.

5 Best Practical Ways to Make Money Online

The author referred as the models of making money online. These models can help you to generate some extra money online.

So, here I shared the best business models from this book to earn money from internet.

1. Service Based

The first and easiest way to earn money online is the service based model. This is also the quickest way to have money in weeks if not then within months.

Service based model means where you provide services online to the different people.

You can use your valuable skills to serve people, who need your services online.

Maybe you have the skills like transcription, administrative, secretarial, word press, content writing skills, virtual assistant skills, and many others. Also, you might have accounting and bookkeeping skills.

When you outsource whatever skills you have to someone online, then it becomes a business because you provide your services for exchange of money.

Practically, many people are earning good money by providing administrative or virtual assistant services and in the same way by providing other services.

The author herself first started service-based business. And she earned a good amount of money from that business.

She used to provide newsletters to the direct sales companies. She used to type, design and provide the newsletter and the clients used to pay her on monthly basis for services she provided.

In reality, if you have skills you can start immediately by providing services online. It can become a great source of income because its growing, more and more people are indulging in online services.

For example, if you have administrative skills you can become a virtual assistant for someone through the websites like Upwork, Fiverr etc.

Author says, this is a powerful model and everyone can easily implement it.

But, remember earning money online depends on the skills you have. If you have good skills you can make good money.

For example, the transcription skill will make less money than the coding skills.

In this model you use your skills to accomplish some tasks or work.

2. Expertise-Based

This is a second model, which also refers as coaching or consulting model. In this model you use your experience to consult or coach other people.

Expertise-based means the expertise someone has to train or consult other people for exchange of money.

Many experts conduct tele-classes, and webinars to make money online. They also design online courses to share knowledge, coach people, and in return they earn a good amount of money.

Author says, coaching and consulting are the ways that you can turn your experience into cash flow.

Life coach, style coach, nutrition coach, spiritual coach is some of the examples of this model.

In the same way as leadership consultants, sales consultants etc.

If you have coaching or consulting expertise then it is possible to transform them into freelance work.

For that you must be expert of any specific topic that you can teach and train people for exchange of money.

In this model you use your expert knowledge to coach or consult someone.

3. Knowledge-Based

Author refers this model as information model. Where, you use information and knowledge to create information products.

Audios, videos, and self-help products are included in this model. As many people on YouTube create videos that provide information and knowledge to the users on one hand and a source of income for creator on the other hand.

This model can help you to turn your skills, experience and knowledge for creating useful products online.

In this model you use your brain power to implement your knowledge for creating informative products.

You can produce information products according to your passion, knowledge and skills.

If you have knowledge and skills you can produce high quality content and earn money online.

In this model you use your knowledge to produce useful and informative products.

4. Goods-Based

This model refers to e-commerce or a store. You can sell the products through conventional way or you can choose a form of e-commerce.

E-commerce means selling products online. This includes the products you create and produce, your software products, things you buy from one and sell them to another.

The good thing about this model is, when you produce products it is quite easy to reach global audience online.

In this era, there is no need to open a store where you keep your tangible products, but you create an e-commerce website.

Through that website you can sell your products globally. And there is another possibility to sell products online by mega e-commerce websites such as Amazon, eBay, and Flipkart.

You can sell them through these websites and a lot of people are earning money from that.

In future, the e-commerce business will further grow up.  The reason is, it is safe, speedy, and comfortable.

Many people sell homemade products through internet and they are making good amount of money.

In this model you sell tangible products, rather information products or providing coaching and consultation.

5. Referral-Based

This is also an easy to do model. If you can’t follow the above mentioned models for any reason so this model is for you.

It refers where you recommend the products of other people to someone and make them buy and in return you get some commission.

To start referral-based model you can join the affiliate marketing program of big organisations. When you promote their products through links and then they pay you commission.

The good thing is it creates a continue stream of income. The profit from this model may be less, but you will not be working too much.

That’s a reason many people like this model. The author herself earned a lot of money through this model.

You can earn money without investing, buying or selling anything. You just provide a platform for a seller and buyer.

You can find affiliate programs on many websites. The famous are such as Amazon, Flipkart and many others.

In this model you suggest and promote products through affiliate programs to earn money.

Final Thoughts

Whatever is your skills set, in whatever category you fall there are still a lot of opportunities to make money online.

If you don’t have skills to generate money online, there are also many sources to learn valuable skills.

I explained the different ways or models to earn money from internet, it depends on you which way you choose to achieve your financial goals.

Frequently Asked Questions (FAQs)

How do I make an extra $1000 a month?

There are many ways to make extra $1000 a month. If you have skills then you can start freelancing immediately. 

You can earn such amount a month but it depends on your skills set. May be you make more than that if your skills are useful and valuable.

How can I make real money online?

As I explained above the real ways to make money online, you can choose the one which is best for you.

What is the best way to make money online in 2020?

I think the best way is to start freelancing or open a YouTube channel. These are the instant ways to make money from internet.

How can I make $100 a day?

You can make $100 a day or more, there are many ways to do it. Such as freelancing, affiliate marketing, from YouTube channel, web development etc.