In this digital world, there are a million ways to make money online which could be done part-time as well as full time. There are hundreds of platforms online which helps you to generate a decent income from home which are totally proved and backtested around the world. Here I’m gonna explain to you some ways which I have personally seen to work and create wealth over the long term from side hustles for financial freedom
Create a blog/website
Blogging is a proven side hustle because you can do it at your own pace anywhere around the world at any time. It’s not easy to generate revenue without proper planning but there are other ways to make money side hustling while blogging. You can Sell advertisements, become an affiliate marketer of other products or even sell your own product using your site. All it requires is a focussed mind and passion which should drive you to achieve anything in life. Obviously, it takes time to build up an audience in order to generate revenue but once you have a large audience it is easy to earn lakhs of money every month.
Now the obvious question is how to start a blog? You can easily understand different ways to start blogging from youtube which is where I have learned to do it anyways In order to get started there are few common steps that you will need to work through in stages and those are
1. Choose a blogging platform.
2. Pick a domain name and web host.
3. Install WordPress on your platform.
4. Design and launch your blog.
Build a huge audience on a social media platform.
Another proven way to generate a huge revenue which most of the younger generation does is to build a huge audience in your social media platforms like Facebook, Instagram where promoters of different products having different niches contact you to promote their new products or services and you can earn a substantial amount by doing so.
To build an audience it doesn’t necessitate you to be a performer, actor, artist, etc. You could actually create a theme-based platform to show your interest and skills. Like if you are some who love cooking share your dishes and recipes, if you are a pet lover share their cute moments along with tips and tricks to take care of and train them. An automobile enthusiast could share the updates of new product launches and simple maintenance tips etc, A movie lover could update your followers about interesting new or old movies, some quotes or memes that strike you in the movie, and so on.
Making money from YouTube used to be as simple as uploading Quality videos with valuable content, Generating millions of views, and earning a share of advertising revenue. Now, content creators have access to multiple ways to monetize their content (monetize refers to converting non-revenue generating assets into revenue assets). In addition to advertising, this can include paid promotions from a major brand, fan funding, or merchandise sales. YouTubers can join the YouTube Partner program after accumulating 1,000 subscribers and 4,000 hours of watch time. How much money do YouTubers make every 1,000 views? With the average YouTube pay rate hovering between $0.01 and $0.03 for an ad view, a YouTubers can make around $18 per 1,000 ad views, which comes out to $3 to $5 per 1,000 video views
Become an online seller
Selling different products from the comfort of your home is not an uncommon way to generate revenue nowadays. Most of us must have heard of Amazon FBA(Fulfilment by Amazon) where we can create a seller account with amazon by registering our details and start listing the products we would like to sell. Different platforms like Flipkart and other Online shops offer this facility. This is another proven method to increase the existing business which you run offline and to get a better reach for your stores. You just have to register and list your products. The rest of the activities like packaging and shipping would be done by the seller platforms hassle-free.
There are bazillion products listed online on different e-commerce websites and selling these products is the only aim of the corporates who own these platforms. Imagine if someone is helping you to sell your products from your own store would he/she be eligible for a commission?? The same is the use case here where you are helping these giants to sell their products and earn a percentage of the profits earned. The percentage of profits depends on the category of the products. What should you do about it ? Signup, Recommend, Earn.
- Create a new amazon account or sign in to the amazon account.
- Go to Amazon Affiliate site and sign up for the program by providing proper details.
- When you open your amazon account after signing up an extra header will be displayed on top, open any product and generate a link for that particular product using the header bar.
- Share the link in different social media platforms, Websites, Apps and people opening the link and purchasing any items using the links will generate revenue to your affiliate account. Soon after they order the product you will see the commission amount in your account and you will be able to withdraw the amount to your bank account directly(A minimum of 1000 rupees is required in affiliate account for with)
You can see an example of Amazon’s affiliate marketing rates from the below image.
It is a form of self-employment, freelancers lend their skills and talents to a number of clients on a flexible basis. They aren’t employed by a company or committed to a single customer – freelancers have the freedom to choose the projects they’d like to work on based on their expertise and the clients they’d like to work for. They usually work from home, although some rent studio or office space. Most of these Startups now you see are born from the exponential growth of freelancing opportunities turned into massive products with huge clients. The most common websites to find opportunities for freelancing are upwork.com, freelancing.com, fievrr.com, etc. Building a profile with the kinds of work completed increases the odds of getting better projects. What jobs can I do freelance? Well, there are a number of roles which include It Consultant, Event management, Writer, Web Developer, Data Entry, Database Admin, video Editing, Artist, illustrator, magazine journalist, make-up-artist, musician, journalist, personal trainer, web designer, translator, transcription, etc.
Sell photos videos online
Do you have a passion for photography and a collection of extravagant pictures captured from your neighborhood or places you have visited then some of the websites have an opportunity waiting for you. Are you interested in selling your pics which showcase your photography skills and earn some money?? Then the websites offering you these facilities are Shutterstock, Adobe Stock, Etsy, Alamy, Fotomoto, Crestock, etc
Flipping refers to buying and selling products online/offline. You can purchase a product from someone who is willing to sell it at a lower price and list out the same product on multiple platforms at a higher price with a decent profit margin. Flipping is an ideal business model mainly in cities. Purchasing a revenue-generating asset should be the main aim which would get resold at a lighting speed with a fabulous profit margin. OLX is one of the most famous Indian websites to list out second-hand items.
Investments play a passive income generation formula as well as a key to financial freedom over the long term. Investing your money in different asset classes like Equity, bonds, real estate, Commodities would give you decent returns over the long term. You don’t need a huge capital to invest in different asset classes You can start investing in stocks and other ETFs even with an amount of 100 rupees. Some of the best books that I would prefer to learn investing are The Intelligent Investor by Benjamin Graham, Beating The Street by Peter Lynch, etc. Also, the best applications to learn investing include fineracy.com 🙂 Varsity by Zerodha, Investing.com, Stock Screener, etc. If you would like to open a Demat and trading account with India’s best stock broker Zerodha then please click here.
Trading involves buying and selling stocks, derivatives frequently in order to get a profit trying to time the market. Its a risky game out of all the above methods because nobody can perfectly time the market but in order to increase the odds of making profitable trades we can rely on candlestick patterns and the leading and lagging technical indicators like Simple and Exponential Moving Average, Volumes, Moving Average convergence divergence(MACD), Stochastic RSI, Volume Weighted Average Price (VWAP), ADX Indicator, Pivot Points (Traditional or Fibonacci), Fibonacci retracement, etc. There are different sayings in the market, “Go with the trend, trend is your friend”. The use of price action plays an important role in identifying the trends and taking trades with higher probability. It’s a game of discipline and we could win this game by effectively controlling our emotions. Click Here to open a trading account with India’s biggest stockbroker offering the lowest, cheapest brokerage rates for futures and options, commodity trading, equity, and mutual funds.