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Friday, March 1, 2024

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 count on your device to deliver thousands of relevant results. One of the important activities in which internet can help you is earning money. You’ll find plenty of options, even if you don’t look hard.

What makes it even better is that you can walk this path, whether you’re a student, a parent who doesn’t have time to go out, or someone who doesn’t have a lot of skills. Here are ways you can actually make money online.

sell products online

Considering how big the consumer market is in India, it would be a good idea if you start selling products online. This means entering the field 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.

Going back, there are many things you can sell. You are basically presented with an unlimited number of options if you plan to start this gig. Not only this, you will also be happy to know that you manage your own time. Unlike physical stores, you don’t have to deal with early opening and late closing hours. You will also save a lot as you will not need to hire a lot of manual labor.

For products, you can prepare 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. It is recommended if you want to increase brand visibility and awareness as online users may see your brand name without specifically typing it in.

If you are not yet ready to invest in a website, you can opt for a social-media-based shop. It’s really a thing these days. Here, you or the business will simply create an account on Facebook or Instagram, and that’s where they post their product photos. The two social media platforms already have built-in messaging platforms, so connecting with inquiring customers won’t be difficult.

dropship trending goods

Dropshipping is one of the latest trends in online selling. Here, there is no need to buy products in bulk from your suppliers and manufacturers without any assurance that you can sell them all. This eliminates the need for a physical location for inventory, which is one of the main expenses at a physical store. Instead, you buy a certain item only after a customer has placed an order.

Here’s how dropshipping works:

  • You create a website featuring your dropship supplier’s products.
  • A customer places an order on your website.
  • You place the order with your dropship supplier. All you have to do is buy the certain quantity that your customer has asked for. Depending on the payment method, you can either use your own money first or the money you received from your customer.
  • Once your dropship supplier confirms the order, they will process the shipping and delivery, so expect to need to send the address and other personal information your customer has provided to you.

Don’t forget to mark up the prices of the products with your dropship supplier. This means increasing the price. This 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. This includes a wide range of industries, including marketing, education, and industries within the creative industry, such as writing, filmmaking, and designing. Basically, if you have a talent for something specific, you can expect to find a certain freelancing gig for you.

If you want to start doing this, you can again create your own website. If you want a less expensive and more effective way, you should consider signing up for a freelancing platform like Fiverr, Upwork, and Freelancer.com to name the most popular.

If you’d like some recommendations, here are some of the most commonly available services you can provide:

Writing, Transcription and Translation Services

If you are good at working with words, writing articles, creating stories, creating product descriptions, or anything else related to writing, you can offer freelance writing services. If the gig description includes ghostwriting, you can write under your own or another person’s name. Anyhow, the minimum rate starts from 0.5 paise.

For those who don’t do very well with article drafting but still want to work in a related field, how about offering transcription services? Here, all you have to do is type what you hear from the recording. Depending on the client, you may have to work with either video or voice clips. The lowest rates for this start from 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. On the other hand, projects can range from short term documents to books and stories. Rates start from 0.5 paise per word.

Marketing

If you are knowledgeable in the field of marketing, or even better, have prior experience working in the field, you can offer freelance marketing services. Since we are talking about online-based services, you will mostly be dealing with digital marketing strategies if you start majoring in this gig.

Providing marketing services comes in many forms. Depending on your expertise, you might offer to write and send email marketing materials, manage social media platforms, or handle a brand’s affiliate system. This gig is paid by the hour and will depend on the actual job description. The good thing about it is that it comes with many opportunities for a full time position.

Note that this gig usually has higher requirements than other freelancing jobs. You must have something to back up your claims, such as a relevant degree, experience, or certification. If you don’t have one, consider attending seminars that offer certificates of completion as a start.

logo design

People who are talented in digital design can provide logo design services to businesses, brands and public figures in general. To set yourself apart from the competition, you’ll need to combine this talent with your ability to come up with innovative ideas and a good eye for aesthetics. One can really earn a lot from here considering that the minimum rate is INR 100.

You don’t need to invest in an expensive design platform right away if you’re just starting out. Consider this when you already have enough clients and are generating higher rates than the minimum.

virtual assisting

For those who have exemplary skills in time management, multitasking, and basically learning all the ropes without being spoon fed, being a virtual assistant could be one of your best options.

This can be either a part-time or full-time position, but it is usually the latter. The good thing is, there are actually plenty of opportunities for beginners to become one even with little to no experience. There are also plenty of earning opportunities due to the high rates offered. At the very least, you should only have your own equipment, preferably a desktop, and working headphones.

become a content creator

Do you have the skills to charm an audience through your personality? How about specializing in a certain area? Becoming a content creator could be the answer to your extra income needs.

It is a slow paced career as you have to invest a lot of time before you can expect high and steady earnings from your platform. You also need to spend effort because you need to think of new ideas for the content you publish. Not to mention, you’ll need to edit either photos or videos to effectively accomplish your goal.

You can earn from content creation through ads, sponsorships, or creator funds provided by certain platforms like Youtube, Tiktok, and other social media sites.

Content creation can be done in a number of ways. Below are just a few of your many options:

Create Videos

Making videos is the best way to get your name out there. You can make long-form videos on Youtube or short-form skits on Tiktok. Really any material will be fine. You can choose whichever one you like the most.

Keep in mind that you also need to know how to edit videos if you want to make your videos as eye-catching as possible.

start a podcast

If you’re not really into filming yourself and are more of a speaker, how about starting a podcast instead? This is usually done on Spotify to reach the widest audience, but you still have the option of going to Youtube or other social media platforms. Again, you can just talk about what you feel comfortable with.

write a blog

Not into filming or recording anything? You can always write a blog about your travels and experiences. You can also share knowledge only about your audience. No matter, all you need is your website to start blogging.

Explore your possible investment options

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 start this because investing basically means multiplying your existing money.

Here are some platforms where you can invest:

Before everything else, remember that investing is not “easy” money. It comes with a lot of risk, and if you do not make smart decisions, you may end up losing the money you have invested.

ground level

In short, some of the best ways you can make money online include selling products online, offering your skills and services, creating content, and, finally, investing.

In choosing a major source of income, you should keep a few factors in mind. For example, start by knowing your expertise. Ask yourself questions like “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 in the beginning, especially if you’re just starting out in the field. Over time, you can take on new gigs or simply focus on growing your current career.

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