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Online Coaching

This is one opportunity that could eventually run itself if you wanted it to. Start a coaching program, and you’re creating a solid base for a business. One significant benefit of online coaching is that you can make good money very quickly. People tend to be more willing to pay a higher price for one-on-one or personalized programs.

Successful online coaches include Shana Recker, Tiffany Napper, and Christina Sambak.

You do, however, need to research your audience and understand what they want and need. Something else that’s very beneficial will be encouraging your clients to spread the word about your business.

A range of coaching platforms have sprung up, and they enable you to launch a highly scalable business model and not have to compromise on the effectiveness of your coaching.

The most popular coaching platforms include:

• Satori: This is an app that streamlines both the business management and coaching side of a business. It combines a business intelligence tool and CRM system, so you’ve got a 1-stop shop.
• CoachAccountable: This platform also covers essential administration tools to help with payments, scheduling sessions, coaching plans, and the sharing of documents.
• Nudge Coach: This platform’s focus is helping coaches keep their clients on track remotely and between sessions. It allows you to send clients the right message when needed and schedule notifications for the future.
• TrueCoach: Designed for fitness business and personal trainers who might want to launch remote training and coaching. It allows you to connect remotely with clients and share videos and workouts.
• Coach Catalyst: This platform is also for fitness businesses and personal trainers. It includes daily check-ins, which means clients are accountable between sessions. Coaches can monitor progress and offer additional motivation or attention if needed.

Level of expertise: Beginner, intermediate, expert

Requirements: Knowledge or skill that people will be willing to pay for, technical knowledge for the platforms

Time: 6 months before you turn a profit

Tools: Coaching platform, website to market your services

Income Potential: $1,000 – $10,000/month

How can I make $100 a week?

It might sound like a lot, but an extra $100 a week is a negligible amount to earn. Become a virtual assistant, try freelance writing, sell on Etsy or Amazon FBA, sell in Fiverr, or become an Uber driver.

4. Money-making strategy: Sell, or resell, used tech on Craigslist

The market for used electronics is vast. You can use Craigslist to part ways with your old iPhone or your MacBook. You can grab a premium for these types of electronics. Some people even flip items by buying them and reselling them.

You could also use a website like Gazelle to sell your used phones, no matter what kind you have. Companies like that have made an entire business model out of buying used phones and refurbishing them. Either way, you can expect to get a fair bit of money relatively quickly if you have these items laying around your house.

Related: 4 Things I Wish I Knew Before Starting a Small Business

Digital Marketing

If you’ve got a creative mind, this might be the industry for you. Digital marketing plays a critical role in helping industries and brands stay relevant. There’s a variety of work available, even for the beginner. Opt for smaller projects such as social media posts and banners or more complex projects that require you to create a brand identity or manage a marketing campaign on social media.

Make and sell products online

Etsy is a website where people sell homemade goods—everything from art to jewelry to soap to pottery to vintage treasures! (It’s also a lovely place to shop where you can buy unique things while supporting creators/curators.)

You can also build your own virtual storefront with Shopify or install the WooCommerce plugin on your WordPress website and run your e-commerce store from your own blog.

Step 3: Start Creating Income!

There are unlimited ways to make money from home – from consumer surveys and other side-hustles that generate some grocery money to potentially lucrative projects and jobs that may take a little time to get off the ground.

Here are some of our favorites:

3. The Safe Way

Just as the fast lane and the slow lane on the highway will eventually get you to the same place, there are quick and slow ways to double your money. If you prefer to play it safe, bonds can be a less hair-raising journey to the same destination.

Consider zero-coupon bonds, for example. For the uninitiated, zero-coupon bonds may sound intimidating. In reality, they're simple to understand. Instead of purchasing a bond that rewards you with a regular interest payment, you buy a bond at a discount to its eventual value at maturity.

One hidden benefit is the absence of reinvestment risk. With standard coupon bonds, there are the challenges and risks of reinvesting the interest payments as they're received. With zero-coupon bonds, there's only one payoff, and it comes when the bond matures. On the flip side, zero-coupon bonds are very sensitive to changes in interest rates and can lose value as interest rates rise; this is a risk factor to be considered by an investor who does not intend to hold a zero-coupon bond to maturity.

Series EE Savings Bonds issued by the U.S. Treasury are another attractive option for conservative investors who do not mind waiting a couple of decades for the investment to double. Series EE Savings Bonds are low-risk savings products that are only available in electronic form on the TreasuryDirect platform. They pay interest until they reach 30 years or the investor cashes them in, whichever comes first. Although the current rate of interest is a paltry 0.10% for bonds issued between November 2021 and April 2022, they come with a guarantee that bonds sold now will double in value if held for 20 years. The minimum purchase amount is $25, while the maximum purchase per calendar year is $10,000. Savings bonds are exempt from state or local taxes, but interest earnings are subject to federal income tax.

17. Money-making strategy: Help with home gardening

Offering your services as a local gardener could make you enough money quick enough to satisfy some pressing needs. There are loads of options from mowing lawns and pulling weeds to planning gardens and decor. If you pitch to enough neighbors, you'll find at least a few takers. It'll definitely be worth your while.

26. Money-making strategy: Sell vintage clothes at a thrift shop

You'll likely get paid by the pound but it's some money, so if you're in need, then why not -- especially if you have no use for those clothes anymore. This works best for things like maternity clothes, old children's clothes, clothes that you haven't worn in years or are simply out of style.

What 's the Single Best Way to Double Your Money?

It really depends on your risk tolerance, investment time horizon, and personal preferences. A balanced approach that involves investing in a diversified portfolio of stocks and bonds works for most people. However, those with higher risk appetites might prefer dabbling in more speculative stuff like small-cap stocks or cryptocurrencies, while others may prefer to double their money through real estate investments.

7. Money-making strategy: Flip real estate contracts

Ir you're thinking this is cost prohibitive, it's not. You can flip real estate contracts without ever taking possession of the property. This isn't a fixer-upper endeavor, just securing a contract and selling it to an interested party. That's it.

You can do this with just a few hundred dollars in most cases to open up escrow. There are companies dedicated to teaching how to do this like REWW. It's good for making a little bit of money, but is also potentially something more long term as well.

Related: 8 Ways Real Estate Is Your Smartest Investment

Work on a virtual team.

Crossover hires people from around the world to work on remote teams. They have a demanding screening process and hire only full-time, permanent employees. Here is their welcome page for those laid off due to Covid-19.Boldly provides companies with part-time and flex-time virtual employees who are:

Boldly.com provides companies with part-time and flex-time virtual employees who are:

• executive assistants
• marketing and social media specialists
• project managers
• and paralegals.

23. Money-making strategy: Participate in medical studies

If you don't mind throwing caution to the wind, consider becoming a participant in medical studies or drug trials. Companies pay a significant amount of money to participants.

You'll need to find the companies conducting medial studies and expect side effects. If you can live with that, then you can definitely make some money fast without too much effort.

Build a Website and Earn an Affiliate Commission

One of the most popular ways to make real money online is through affiliate marketing. 81% of brands and 84% of publishers use the power of affiliate marketing and this statistic is likely to continue as affiliate marketing spending in the US increases every year.

Don’t know what affiliate marketing is? It’s a way of earning money by promoting various brands. You’re promoting products, services, apps, software, and more. In return, companies pay you a commission when a customer buys a product using your link.

You probably think the commission will be small, but that’s not strictly true. It can be but what makes a big difference is that you can be an affiliate for one, two, three, or considerably more different brands, and there’s no limit to the number of links you can include in each of your posts.

There’s also the potential for the commission to be 50% of a $1,000 product and for it to be a recurring commission every month.

How does it work? You advertise the brands via your website by writing blogs, creating infomercials, and other types of content. You include links for your affiliate brands and push traffic to their website.

To achieve any level of success, you have to learn to be persistent. The key to your success will be finding a niche that suits you and having the right strategy. Some of the niches you might want to consider include:

• Software
• Travel
• E-commerce
• Dating
• Loans
• Fitness

Once you’ve decided on a niche, you’ll need to work on designing a website and starting a blog. Starting a YouTube channel that runs alongside your blog is another option.

Level of expertise: Intermediate

Requirements: Content marketing expertise, know how to build a website

Time: From six months to several years before you start making any real profit

Tools: Domain, hosting

Income Potential: $300 to $10,000/day

Become a $100/hour consultant

Clarity.fm pairs business owners with experts who can help them with marketing, branding, business development and other topics. While not a steady way to earn money, it is a way to add some occasional dollars to your wallet. This Side Hustle Nation article explains how it works and how the author has earned nearly $8,000 over time with Clarity.

9. Create an app

Creating an app could be a way to make that upfront investment of time and then reap the reward over the long haul. Your app might be a game or one that helps mobile users perform some hard-to-do function. Once your app is public, users download it and you can generate income.

Opportunity: An app has huge upside, if you can design something that catches the fancy of your audience. You’ll have to consider how best to generate sales from your app. For example, you might run in-app ads or otherwise have users pay a nominal fee for downloading the app.

If your app gains popularity or you receive feedback, you’ll likely need to add incremental features to keep the app relevant and popular.

Risk: The biggest risk here is probably that you use your time unprofitably. If you commit little or no money to the project (or money that you would have spent anyway, for example, on hardware), you have little financial downside here. However, it’s a crowded market and truly successful apps must offer a compelling value or experience to users.

You’ll also want to make sure that if your app collects any data that it’s in compliance with privacy laws, which differ across the globe. The popularity of apps can be short-lived, too, meaning your cash flow could dry up a lot faster than you expect.

2. Money-making strategy: Become a market research participant

In college I participated in loads of market research. It's fairly quick money for not a lot of work. Companies looking for consumers' opinions on a variety of products and services put you in a room to garner your opinion. That's it.

This often involves writing or stating your opinion, answering polls or surveys, or breaking off in a discussion group. The mechanics don't matter much. The point is that you can rely on it from time to time. Focusgroup.com is just one company that is looking for participants.

Related: 6 Things You Must Quit Doing Now If You Want to Be More Successful

Virtual Assistance

This is another area that’s becoming increasingly popular. Hiring one remote person to undertake a wide range of tasks such as receptionist, customer support, typist, admin, or email assistant saves money, especially for a small business with a tight budget. Work for several different companies, and you’ll be able to maximize your freelancing income.

Make Money on Your Phone

You don’t need a fancy computer to make money. You can make upward of 3k just by using your smartphone. What’s even better is that you won’t need to leave home to do it. The internet has made it super easy, and with smartphones having enough computer power to run a small country, there are numerous ways you can make money from home.

Lots of the options will bring in small amounts of cash, which we’ve already looked at. In this short section, you’ll find out about the more lucrative ways.

• Make a profit from flipping stuff: If you’re the kind of person who has an eye for hidden treasures and deals at garage sales or thrift stores, this could be the option for you. When you flip things, you’re selling items you got free or discounted for profit.
• Make smart investments with Acorns: If you’re interested in making money by investing, Acorns is a fantastic option, especially for beginners. When you buy something with your credit or debit card, Acorn rounds it up and invests the difference. It’s just a small change, but you’ll be surprised at how quickly it adds up.
• Sell books online: There’s a massive market for used books and textbooks. Sites such as Bookscouter help you sell any books you’ve got or books you buy cheaply, for real cash.
• Play games and get paid: If you enjoy passing the time playing games, check out Dabbl. Play fun and simple interactive games and earn money. We’ll look at some other ways to make money playing games in the next section.
• Rover: Get paid to play with dogs, pet-sit, walk dogs, and more. Use your phone to set your rates and plan your schedule.

Level of expertise: Beginner

Requirements: Smartphone

Time: Instant

Tools: Sign up with the app

Income Potential: Up to $3,000 annually

Learn to code—or build websites!

Code Academy offers courses in web development, computer programming, and data science. Their basic package is free, so you can begin learning immediately with no out-of-pocket expense.

Make Money Online with Google AdSense

Google AdSense is a program that lets you run ads on your website, YouTube videos, or blog. You are paid when someone clicks on the ad. Businesses using the Google AdWords program generate the ads, and you feed them by using an AdSense code.

If your website or blog is new, Google AdSense is one of the quickest ways to generate an income.

The program is free, and the eligibility requirements are simple. You get a wide range of ad options to choose from, some of which you’re able to customize to complement the feel and look of your site.

Payments made to you by Google are made by direct deposit every month. You’re not limited to running ads on just one website, and you can also run ads on RSS feeds and mobile devices. You have to meet specific Google requirements to include the ads on your website, blog, or YouTube channel.

Your website, for example, has to have at least 30 pages of content that’s unique, is three months old, and generates traffic. The better the traffic, the higher your potential for earning.

Level of expertise: Intermediate, expert

Requirements: Website, blog, or YouTube channel that meets Google requirements, some technical knowledge

Time: You can start earning as soon as your site is approved

Tools: It’s easier to display ads if you use a platform such as WordPress

Income Potential: $0.20 – $15/click

11. A bond ladder

A bond ladder is a series of bonds that mature at different times over a period of years. The staggered maturities allow you to decrease reinvestment risk, which is the risk of reinvesting your money when bonds offer too-low interest payments.

Opportunity: A bond ladder is a classic passive investment that has appealed to retirees and near-retirees for decades. You can sit back and collect your interest payments, and when the bond matures, you “extend the ladder,” rolling that principal into a new set of bonds. For example, you might start with bonds of one year, three years, five years and seven years.

In a year, when the first bond matures, you have bonds remaining of two years, four years and six years. You can use the proceeds from the recently matured bond to buy another one year or roll out to a longer duration, for example, an eight-year bond.

Risk: A bond ladder eliminates one of the major risks of buying bonds – the risk that when your bond matures you have to buy a new bond when interest rates might not be favorable.

Bonds come with other risks, too. While Treasury bonds are backed by the federal government, corporate bonds are not, so you could lose your principal if the company defaults. And you’ll want to own many bonds to diversify your risk and eliminate the risk of any single bond hurting your overall portfolio. If overall interest rates rise, it could push down the value of your bonds.

Because of these concerns, many investors turn to bond ETFs, which provide a diversified fund of bonds that you can set up into a ladder, eliminating the risk of a single bond hurting your returns.

Which passive income source is best?

The question of which passive income source is best depends on several factors, but some of the most important include the amount of money you have to invest, the total opportunity size, your interest and ability in the area, the amount of time you need to invest and the potential to succeed. Typically, the lower the barriers to entry, the more crowded the field of competitors and the lower likelihood of success.

So you’ll need to weigh the opportunity against these factors and see which passive income strategy works best for you. But it can be helpful to have natural ability and an interest in your target area, because these can help motivate you in the early days when things are likely to be tougher.

There are passive income opportunities for people who are starting out with some money and even those who have no money to start.

Write and Sell an eBook

If you know you’ve got a book in you but have been putting it off for years, publishing an eBook could be the opportunity you’re looking for. If you want to publish a book, you don’t have to approach a publishing house because self-publishing is an option. Absolutely anyone can publish a book, and it is possible to make a living.

The barrier for entry is set relatively low, so be ready for lots of competition. To stand out from the crowd, you’ll need to write the best eBook possible and satisfy the readers’ expectations.

Some of the things you need to consider before you put pen to paper, figuratively speaking, include:

• Choosing the right topic: Something you’re passionate or knowledgeable about.
• How long your eBook is going to be: There are no hard and fast rules.
• The title of your eBook: It needs to grab people’s attention and draw them in.
• Write unique content: Provide insights that no other eBook offers.
• Format: PDF is the best.
• Editing: Fill your eBook with grammatical errors, and it’s doomed to fail.
• Cover design: It’s not just about the content. An attractive cover is also key to success.

Once you’ve written your eBook, you need to sell it. Targeting everyone is not the best approach. You’re more likely to be successful if you can identify a market.

Level of expertise: Beginner, intermediate, expert

Requirements: Idea for your eBook

Time: Your eBook could earn you an income within a couple of months

Tools: Editing tool, blog, or publishing platform

Income Potential: $50-$10,000/ month

2. The Contrarian Way—Blood in the Streets

Even the most unadventurous investor knows that there comes a time when you must buy, not because everyone is getting in on a good thing but because everyone is getting out.

Just as great athletes go through slumps when many fans turn their backs, the stock prices of otherwise great companies occasionally go through slumps, which accelerate as fickle investors bail out. As Baron Rothschild supposedly once said, smart investors "buy when there is blood in the streets, even if the blood is their own."

Nobody is arguing that you should buy garbage stocks. The point is that there are times when good investments become oversold, which presents a buying opportunity for investors who have done their homework.

Valuation metrics used to gauge whether a stock may be oversold include a company's price-to-earnings ratio and book value. Both measures have well-established historical norms for both the broad markets and for specific industries. When companies slip well below these historical averages for superficial or systemic reasons, smart investors smell an opportunity to double their money.

Being contrarian means that one is going against the prevailing trend. It therefore requires a greater degree of risk tolerance and a substantial amount of due diligence and research. As such, a contrarian strategy is best left to very experienced investors and is not recommended for a conservative or inexperienced investor.

1. Create a course

One popular strategy for passive income is creating an audio or video course, then kicking back while cash rolls in from the sale of your product. Courses can be distributed and sold through sites such as Udemy, SkillShare and Coursera.

Alternatively, you might consider a “freemium model” – building up a following with free content and then charging for more detailed information or for those who want to know more. For example, language teachers and stock-picking advice may use this model. The free content acts as a demonstration of your expertise, and may attract those looking to go to the next level.

Opportunity: A course can deliver an excellent income stream, because you make money easily after the initial outlay of time.

Risk: “It takes a massive amount of effort to create the product,” Tresidder says. “And to make good money from it, it has to be great. There’s no room for trash out there.”

Tresidder says you must build a strong platform, market your products and plan for more products if you want to be successful.

“One product is not a business unless you get really lucky,” Tresidder says. “The best way to sell an existing product is to create more excellent products.”

Once you master the business model, you can generate a good income stream, he says.

Minimize your taxes on passive income

A passive income can be a great strategy for generating side income, but you’ll also generate a tax liability for your effort. But you can reduce the tax bite and prepare for your future, too, by setting yourself up as a business and creating a retirement account. This strategy won’t work for all these passive strategies, however, and you’ll have to be a legitimate business to qualify.

1. Register with the IRS and receive a tax identification number for your business.
2. Then contact a broker who can open a self-employed retirement account such as Charles Schwab or Fidelity.
3. Determine which kind of retirement account might work best for your needs.

Two of the most popular options are the solo 401(k) and the SEP IRA. If you stash the cash in a traditional 401(k) or SEP IRA, you can take a tax break on this year’s taxes. The solo 401(k) is great because you can stash up to 100 percent of your earnings into the account, up to the annual maximum. Meanwhile, the SEP IRA allows you to contribute only at a 25 percent rate. In addition, the solo 401(k) permits you to make an additional contribution of up to 25 percent of your profits in the business.

If you’re thinking of going this route, compare the differences between the two account types or look at the best retirement plans for the self-employed.

14. Money-making strategy: Become a personal training

If you understand fitness, you could be a personal trainer. People pay good money for personal trainers, if only to have someone keep them on track towards their goals. You can add value while also helping yourself financially.

This could also break off into nutrition and assisting people with meal plans, and so on. You could solicit clients in your local gym, but depending on where you live, you might need some certification to do this (not to mention the gym's approval). You could also use a site like FitnessTrainer to advertise your services.

Related: This Entrepreneur Lives in the Back Room at a Gym While Building His Business

Join a Remote Company Part-Time (or Full-Time)

Perhaps you’d like a change of career, want to try something new, or would benefit from a scenery change. In such cases, working remotely can be a breath of fresh air as well as an excellent opportunity to earn some money on the side.

Many companies are looking for remote employees, and it doesn’t matter where you work. According to Upwork, 22% of the American workforce will be working remotely by 2025. That’s an 87% increase compared to before the pandemic. Start on a part-time basis, and you might like it so much you want to work full-time.

Look for possible options by checking out online career listings, or visiting one of the following websites:

The types of remote jobs available vary considerably. Such positions might include being a designer or working in customer support.

It’s a simple case of finding a job you like and applying for it.

Level of expertise: Beginner, intermediate, expert

Requirements: The right skill for the job you’re applying for

Time: Instant

Tools: Knowledge and experience to help you secure the job

Income Potential: $20,000 – $100,000

25. Money-making strategy: Do micro gigs on Mechanical Turk

Mechanical Turk is a platform by Amazon that allows you to do small jobs and get paid for it. But don't expect too much money out of this. These gigs truly are "micro" and range from a few cents to a few dollars at the most. But if you string several of these together, it might be in your benefit.

You don't need any serious qualification to do this. Usually, this involves clicking on links, taking surveys, giving an opinion, doing some light categorizing or other human-intelligence tasks (HITs as they like to call it).

Share your skills and knowledge online

Perhaps you are a yoga teacher or martial arts instructor whose studio has just closed, or a guitar instructor or an art teacher at a community center. Maybe you are a stay-at-home parent who can teach other parents to do the same. Perhaps you are an Italian chef suddenly without a restaurant! How can you make money from home while online?

Thanks to modern technology, you can teach and train virtually! Offer private or group lessons on the Zoom conferencing platform. (Leif Hanson of Spark Interaction offers private and group instruction on how to facilitate engaging online events at ZoomTrainings.com.) You can also livestream from Facebook as part of a paid group course.

A priority this year, for many people, will be figuring out how to make money online. It might be a side gig to supplement your job or a completely new venture. Whatever the reason, there are a wealth of available opportunities.

For quite a few of them, all you’re going to need is access to a reliable internet connection and a smartphone.

8. Dividend stocks

Shareholders in companies with dividend-yielding stocks receive a payment at regular intervals from the company. Companies pay cash dividends on a quarterly basis out of their profits, and all you need to do is own the stock. Dividends are paid per share of stock, so the more shares you own, the higher your payout.

Opportunity: Since the income from the stocks isn’t related to any activity other than the initial financial investment, owning dividend-yielding stocks can be one of the most passive forms of making money. The money will simply be deposited in your brokerage account.

Risk: The tricky part is choosing the right stocks.

For example, companies issuing a very high dividend may not be able to sustain it. Graves warns that too many novices jump into the market without thoroughly investigating the company issuing the stock. “You’ve got to investigate each company’s website and be comfortable with their financial statements,” Graves says. “You should spend two to three weeks investigating each company.”

That said, there are ways to invest in dividend-yielding stocks without spending a huge amount of time evaluating companies. Graves advises going with exchange-traded funds, or ETFs. ETFs are investment funds that hold assets such as stocks, commodities and bonds, but they trade like stocks. ETFs also diversify your holdings, so if one company cuts its payout, it doesn’t affect the ETF’s price or dividend too much. Here are some of the best ETFs to choose from.

“ETFs are an ideal choice for novices because they are easy to understand, highly liquid, inexpensive and have far better potential returns because of far lower costs than mutual funds,” Graves says.

Another key risk is that stocks or ETFs can move down significantly in short periods of time, especially during times of uncertainty, as in 2020 when the coronavirus crisis shocked financial markets. Economic stress can also cause some companies to cut their dividends entirely, while diversified funds may feel less of a pinch.

Compare your investing options with Bankrate’s brokerage reviews.

The psychology of making money.

Regardless if you need to earn some fast cash or we're just talking about making money in the grand scheme of things, there's an important psychology that needs to be mentioned before getting into the strategies. If you study Freud's model of the mind, you'll discover the Psychic Apparatus. It's the three-part construct in your mind that controls all of your behavior.

Those three are the id, the super-ego and the ego. The id lives deep within the subconscious from birth. It's the source of our sudden and most instinctive urges. When you find yourself doing what you know you shouldn't, blame your id.

The super-ego is formed later in life to balance the id. It forms and breaks off from the id through our upbringing, parental guidance and our sense of community and beliefs. People who are careful with their money can thank their super-ego.

The ego is the driver making the decisions. It decides between the devil (the id) and the angel (the super-ego) on either shoulder (yes, all those cartoons you've ever seen are partly true). We have voices in our mind, and it's up to the ego to decide which one to fulfill. Its goal is to satisfy the id in some way while also attending to the super-ego.

Get-rich-quick schemes and fad weight-loss diets are naturally popular because they satisfy the id while also attending to the super-ego. The ego's job is complete when it sees something like this. The appeal of "fast'' stems from the innate desire for instant gratification, so beware of what seems too good to be true (they often are) when you're looking to make money quickly. Be wary. Listen to the conversation deep within the confines of your mind and do your best to tame the proverbial beasts.

What are the best ways to make money right away? While a search online when you're in need of some fast cash will produce millions of results, not all will be legitimate. It's up to you to filter through the so-called noise. These 32 strategies will help put you in the black, even if it's in a very small way. Once you are, resume planning and focusing on the bigger picture.

Related: How to Make a Fortune With $100

Sell Stock Photos to Make Money Online

Is your passion for taking pictures? Why not make some money at the same time? There are several different sites where you can upload your photos. The benefit of using these sites is that their user base is massive. Every time someone operates and licenses the images, you’re paid for the privilege.

Many people start selling their stock photos only to fall after a couple of months because they’re not earning enough. To make a consistent amount of money, you must upload images of the highest quality, research what sells, and then create the pictures you know people will buy. It also helps if you upload images as often as you can. The more extensive your portfolio, the better chance you have of success.

Some of the most well-known stock photography sites include:

Conclusion

Whether you want to make a few extra bucks as a sideline, discover a way to escape your 9 to 5, or start your own business, there are endless opportunities when it comes to making money online.

You can start with little or no investment or use your savings to get things off the ground. In the list, there are possibilities for the complete beginner right through to expert.

There really is something for everyone.

Step 2: Assess Your Resources

Some people are looking for immediate cash flow. Others have funds and savings that can carry them for several months or even years. Know what funds you have liquid and what you could access quickly (including whole life cash value). Most who have lost jobs will receive unemployment benefits, which can be helpful to those ready to take advantage of a transitional opportunity.

We anticipate the economic impact of this situation will not resolve quickly, so take a long-term view and prepare accordingly. Do what you can to save and preserve cash by trimming your expenses and protecting your assets. If you have been contributing to a 401(k) or IRA, build up your emergency/opportunity fund instead. Steer clear of prepaying your mortgage! Instead, save where you will have access to your money once you are firmly secure in a new job or steady freelance opportunity and back to work during the pandemic.

Take stock of your non-monetary resources as well.

• What intellectual capital can you leverage and repurpose outside of a typical job environment?
• What relationships and networks support you?
• Where do you have influence and social capital?
• One of the most valuable assets you have is your list of contacts, specifically names and emails and cell numbers. (Texts took over email in 2014 as the primary mode of communication.)

While this is a time to conserve your money, it’s a time to EXPAND your reach – this includes your sources of income, skills, and knowledge. Instead of sitting and waiting for things to “return to normal,” consider how you can build value in yourself—or in an existing business or new potential stream of income—right now.

Graphic Design

Graphic design is a vast field so you’ll help potential customers by creating a portfolio, pitching to clients, and setting your rates according to your expertise. To hone your skills even further, consider taking certified courses and watching tutorials.

Freelance

Do you have a specific skill set? Is there something you can do that people would pay money for? There is currently a massive demand for freelancers. In a recent survey by PeoplePerHour, 60% of businesses who responded said they plan to use freelancers more this year. However, being your own boss is not as easy as it seems. Many sacrifices are required, and you have to put in a certain amount of effort when it comes to finding clients. All of which must be done before you can do the work.

There are also specific skills you’ll need to develop if you want to be successful. You’ll need to learn how to market yourself, pitch to potential clients, provide support, budget, and manage your time.

There’s also a tremendous amount of competition, which means you also need to think about a strategy. You’ll find plenty of resources to help you online, so don’t fret about it too much.

Let’s look at the steps you’ll need to take before moving on to the areas with the most potential.

Step 1: Choose your niche: something you’re passionate or knowledgeable about.

Step 2: Be specific about the services you provide.

Step 3: Build an impressive portfolio of your work.

Step 4: Define your customer base.

Step 5: Test the waters before you give up your day job.

Step 6: Hone your skills.

Step 7: Search for clients on popular freelance sites such as Upwork, Freelancer, Toptal, and Fiverr.

Be prepared to work harder than in your 9-5 job, enjoy fewer vacations, work through holidays, and often into the night.

Now let’s look at some of the most popular niches for freelancers.

Become an Influencer on Instagram

Instagram has been around for more than a decade. From very humble beginnings, it has grown into being one of the biggest social media platforms. In the third quarter of 2020, it was estimated that there were 1.16 billion Instagram users. One of the main reasons it’s become so popular is that it’s completely free.

It’s possible to make money from Instagram quite easily, but you will need a large enough following. There are companies out there that are willing to pay Instagrammers money. It might be for showcasing a product or making a post.

How much you’ll get paid for a post kind of depends on how engaged your followers are and how many of them there are. Remuneration ranges from a couple of hundred dollars to several thousand, just for one post.

To be able to charge a few thousand for a post will take a certain amount of time, patience, and dedication. First, you’ve got to build up a sizable audience. It shouldn’t be a problem if you enjoy taking photographs, however. You’ll also need to spend lots of time using your phone and be a dedicated Instagrammer. If you can tick all these boxes, it’s got to be worth trying.

Level of expertise: Beginner, intermediate, expert

Requirements: Understanding of posting on Instagram

Time: 12 months or more to gain a good following, longer to make a profit

Tools: Smartphone with a good camera

Income Potential: $50 – $5,000/post

29. Money-making strategy: Conduct a webinar

Okay, it sounds intimidating but webinars are one of the best ways to earn cash quickly. You're speaking to a highly-engaged audience. If you position yourself and the offer correctly, you can make loads of money in a very short period.

GoToWebinar is by far the biggest platform. Webinar Jam is one of the most feature-rich platforms out there. Whichever you go with comes down to how well you can sell. It takes practice, but this is fast cash at its essence.

Related: 12 Realistic Ways to Make Your First $1 Million

32. Money-making strategy: Pawn your valuables

If you're running on fumes, financially speaking, but you have some money coming your way soon, consider pawning something of value to borrow fast cash. Of course, to get those items back you'll need to pay back the loan with interest. If you don't pay it back in time, that you'll lose the item. If it's really something that has a lot of intrinsic value to you, don't do it. But if it's something that doesn't, you can certainly consider it depending on your situation.

Looking to delve deeper into the world of entrepreneurship? Visit our newly relaunched Entrepreneur Bookstore.

How can I make passive income with money?

Money can provide you with more passive investment opportunities. If you have money to invest in a passive opportunity, you have not only the opportunity set above but a new range, too. Money is a prerequisite for taking advantage of the following passive income areas:

• Investing in dividend stocks or REITs. Investing in stocks means you need money upfront, but you’ll receive some of the most passive forms of income around.
• Save with bonds or CDs. Other purely passive activities include buying bonds or CDs.

Here you can use your money to make money with little or no effort on your part, if that’s what you’d like to do. Of course, you could pair your money with a lot of time investment to move into an even more lucrative niche, too.

Set yourself up for future recurring revenue

If you are a business owner or freelancer or simply want to generate income on the side, this is the perfect time to set yourself up for multiple streams of income. To create (eventual) passive income, you could:

• Write a book to sell on Amazon.
• License intellectual property.
• Sell photos through stock photo websites.
• Invest in cash-flowing real estate or mineral rights.
• Buy—or sell—an income-producing website on Flippa.com or Deal Flow Brokerage. (This can be very profitable but definitely study up and/or get professional advice on this.)

Build a drop-ship business

“Drop-shipping” means that you never have to see or handle the product yourself. (You just have to make the sale!)

Amazon offers one form of drop-shipping, but there are other resources. Providers such as SaleHoo, Worldwide Brands, and other sources offer drop-shipping products.

7. Peer-to-peer lending

A peer-to-peer (P2P) loan is a personal loan made between you and a borrower, facilitated through a third-party intermediary such as Prosper or LendingClub. Other players include Funding Circle, which targets businesses and has higher borrowing limits, and Payoff, which targets better credit risks.

Opportunity: As a lender, you earn income via interest payments made on the loans. But because the loan is unsecured, you could end up with nothing in the event of a default.

To cut that risk, you need to do two things:

• Diversify your lending portfolio by investing smaller amounts over multiple loans. At Prosper.com and LendingClub, the minimum investment per loan is $25.
• Analyze historical data on the prospective borrowers to make informed picks.

Risk: It takes time to master the metrics of P2P lending, so it’s not entirely passive, and you’ll want to carefully vet your prospective borrowers. Since you’re investing in multiple loans, you must pay close attention to payments received. Whatever you make in interest should be reinvested if you want to build income.

Economic recessions can also make high-yielding personal loans a more likely candidate for default, too, so these loans may go bad at higher than historical rates when the economy worsens.

10. Money-making strategy: Grab gigs on Fivver

No matter what type of service you offer, you can likely offer it Fivver. This is terrific for digital services such as graphic design, web design, short audio or video clip creation, editing services, writing and so on.

Fivver has expanded beyond just the $5-per-gig model. Fiverr Pro pools the best talent on its platform. Depending on your skills, you could do considerably well on here.

Related: 5 Ways Fiverr Jump-Started My Life as an Entrepreneur

15. Money-making strategy: Tutor students

Parents are always willing to invest in their children's future. If you have a great deal of knowledge in subjects such as math, science or computers, you could tutor for cash.

Both Indeed.com and Care.com offer opportunities for tutoring local students. You could opt for either of these platforms or simply find your clients through your personal network or social media.

6 Strategies to Accelerate Cash Flow

Every business could certainly benefit from an increase of cash flow. More money in the bank means more opportunities to hire additional employees, expand operations, invest in new products and services and, ultimately, grow your business. The challenge is getting your cash flow moving at a more efficient speed, allowing you the freedom to invest.

Here are six easy to implement business strategies that will increase your cash flow and get you on the fast track to higher profits.

1. Reduce your spending. Decreasing your spending is one of the more obvious ways to increase your cash flow. Of course, this is easier said than done. But even a few minor reductions can result in major returns.

The first step to implementing this strategy is to carefully analyze all of your spending. How much do your office supplies and electrical bills cost every month? How much do you pay for insurance, employee salaries, and other bills? After analyzing your spending, look for areas that can be reduced. However, it’s important to approach spending cuts carefully, because pay cuts can result in driving away employees.

2. Create additional revenue streams. One smart way to tap into a new revenue stream and increase cash flow is Central Bank’s Commercial Payments solution. This powerful and automated Accounts Payable (AP) system will streamline your current payment process into a faster, more efficient payment system that requires less management — saving you more money and time. And because Commercial Payments is credit card based, Central Bank will pay you a revenue share, or cash back, on every dollar of digital payments processed through the system.

3. Offer discounts for fast payments. If you’re looking for a way to encourage your customers to pay their invoices or bills faster to increase your cash flow, then fast pay discounts may help. The discount doesn’t have to be substantial, but customers will appreciate a small amount of savings if they pay within 30 days or less. Try several incentive plans, with different discount levels, to reach more clients and collect payments faster. Also, making it easier for customers to pay will increase the well-being of your business. Consider a payments and invoicing solution, like Autobooks, to streamline your payment acceptance.

You can also approach your vendors and offer this same incentive when you pay them faster through Central Bank’s Commercial Payments automated payment system. Be sure to explore this opportunity to negotiate a discount incentive by paying your vendor sooner, or even before the due date.

4. Watch your inventory. Are you investing a large portion of your cash into inventory? Inventory may be the lifeline of your business, but you don’t want it to destroy your cash flow. The boxes of shirts, candles, or other items you sell shouldn’t sit in warehouses for decades. It’s important to find a balance between having too much and too little of inventory, find the fine line that is just enough to satisfy your customers’ needs.

5. Consider raising your prices. Are you keeping up with inflation? You might be able to raise prices on your products and services to keep up with the market. Higher prices can lead to more cash flow, but they may also scare away customers. Find the happy-medium that fulfills your cash flow needs, but also stays within a prince range that keeps your customers happy and loyal.

6. Offer prepayment rewards. By offering a variety of rewards ranging from discounts to extra products, you can incentivize your customers to prepay a portion, or their entire bill, up front. You can also create a special rewards program with gift cards or other items. Customers who prepay for large packages, services, or multiple items could receive extra rewards. These rewards will encourage them to stay and continue buying your products or services.

Cash is King in every business. And cash flow is your company’s life blood. So creating a customer rewards program that increases cash flow is always a smart idea. By offering sales, discounts, and other special rewards, you can expand your customer base and gain loyalty to your business. Plus automating and streamlining your current AP process with Central Bank’s Commercial Payments solution can make it even easier. Incorporate several of these strategies into your business operations to discover what works best for you.

Stop by any Central Bank location to find out how Commercial Payments can make your Accounts Payable system more efficient and profitable.

21. Money-making strategy: Give blood

You can \make around $20 to $50 per donation of blood, depending if your blood type is rare or common. You can also donate plasma. Different states have different minimum requirements that must be paid when people donate plasma.

Plasma donations help people who are fighting Leukemia and other immune disorders. This is a bit more complicated and involved than donating blood but you won't get much more than donating blood.

Create Online Courses

You get them popping up on your Facebook news feed and in ads when you search online. It feels like online courses are everywhere you look nowadays, but it’s not too late to get in on the action. It is forecast that the online education market could reach $350 billion by 2025. There is one requirement, however. You need knowledge that someone is willing to pay for. If you’ve got what it takes, online courses are a fantastic opportunity.

It’s not the end of the world if you don’t have the wherewithal to create your own course because there’s always the option of becoming an instructor. Pick the right platform and you’ll be able to pass on your experience and skills to a broad audience who might be interested in learning something new.

If you’re wondering what kind of topics sell, here are some examples:

• Personal development
• Photography
• Art
• Gardening
• Technology
• Languages (we’ll be looking at teaching English a little later)
• Cooking
• Marketing

An excellent place to start, if you have decided on a topic, is to poll your audience. You’ll discover what they want to learn and how much they’ll be willing to pay for it.

Level of expertise: Expert

Requirements: Knowledge or skill people want to pay for

Time: You could be earning an income in a couple of months

Tools: Online learning platforms such as Udemy and Kajabi, or a software product such as WooCommerce or WordPress, an online course platform like Thinkific.

Income Potential: $50-$10,000/month

14. Rent out your home short-term

This straightforward strategy takes advantage of space that you’re not using anyway and turns it into a money-making opportunity. If you’re going away for the summer or have to be out of town for a while, or maybe even just want to travel, consider renting out your current space while you’re gone.

Opportunity: You can list your space on any number of websites, such as Airbnb, and set the rental terms yourself. You’ll collect a check for your efforts with minimal extra work, especially if you’re renting to a tenant who may be in place for a few months.

Risk: You don’t have a lot of financial downside here, though letting strangers stay in your house is a risk that’s atypical of most passive investments. Tenants may deface or even destroy your property or even steal valuables, for example.

30. Money-making strategy: Wash or detail cars

People are always looking to have their cars washed and detailed. You could be a mobile car washer and detailer without having a permanent location. Reach out to people you know or make some flyers and put it in your neighbors' mailboxes. If you want to get serious about it, prop up a one-page website or give out business cards. You can make money quickly doing this.