There is more to the internet than just news and entertainment, it is a sea full of gigs and jobs that you can make money online and gain financial freedom. Most of these don’t require special skills, neither do they eat into much of your time or resources. They, however, still have a high likelihood of blossoming into fully fledged moneymaking ventures whose earnings eventually surpass your daytime job.
But you probably have seen and tried the numerous ‘make money online ads’ or the numerous others tacked to the utility poles and job boards and they all turned out to be bogus scams. The key to landing legit online money making gig (or creating one) lies in the level of transparency it offers. Any of these ventures, whether passive or active, should have a clear course of action that lets you understand how much you stand to make as well its scalability early on.
To help you get started in landing legit money that earns you extra money, we have compiled a list of 25 most practical online money makers for the different age groups alongside their merits and demerits.
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Criteria used to identify the best ways to make money online today:
- Return on time and capital investments
- Level of skill required
- The time required to take the venture off the ground
- Passive or active
25 Genius ways to make extra money online
Why consider online money making ventures?
- Most are passive:
The most interesting aspect regarding the vast majority of these online ventures is that they are passive or can be easily automated. Even the most time consuming like create a blog or an online course gradually evolve into semi-passive ventures that call for minimal maintenance.
- Extra income stream:
Most of these online ventures are either passive or can be pursued during your spare time. You are, therefore, building an extra income stream without negatively affecting your current primary source of revenue, be it salaried employment or business.
- Let’s you earn from your extra skills:
While you may work in an office setup, you probably are also talented with handicrafts or even a trained photo/videographer. Most of these online ventures let you put your extra skills into use during your free time and get paid for it.
- Highly scalable – unlike the 9-5:
In the corporate world, the scalability of our jobs is often limited to either promotion to the next level or switching to a different career path. There is however no limit to the scalability of the online ventures. You can easily turn your article writing skills into an authority content creation website, or your photography hobby into a fully-fledged still and motion pictures production company.
There is no limit to the number of online ventures you can engage in regardless of your skills and experience level. Neither is there a limit to how much you can earn here. And while they all seem quite lucrative, you might first want to test your grasp of the specific task, its capital and time investment demands as well as its scalability before taking it on. If you are skilled in a particular niche like writing or video editing, you would be better off pursuing an online venture related to this and if you are better with accountancy, you are better off consulting for small businesses and helping others prep for taxes.
Does every extra income-generating idea have to be online based?
No, but you are better off starting an online venture as they have minimal overheads and liabilities. Unlike the conventional offline business where you have to start from scratch, there exist strong platforms online like Amazon, Shopify, Etsy, Upwork and Fiver where you create a profile and start earning almost immediately.
How much can I make from these online side hustles?
There is no limit to how much you can make from most of these online ventures. Most are however either capital, time and labor intensive and how much you make is purely dependent on how much you invest, the time dedicated to growing the venture, or the effort put towards making it a success.
Must I invest in these online ventures to get decent returns?
No, there are numerous highly rewarding online ventures that don’t require capital investments. These include affiliate marketing, writing, or hosting YouTube videos that are free to create.
How much time or resources do I have to dedicate to the online venture?
The amount of time required or resources spent on an online project is highly dependent on the nature of the online venture. Note that while some like creating a blog/website or authoring a book and online course requires a lot of time, some like investing in shares and stocks via a robo advisor take no more than just a few minutes.
Can an online venture ever grow into a mainstream business?
Yes, most of these online ventures are highly scalable and have the potential of outgrowing your mainstream 9-5 job and morphing into a fully-fledged business. For instance, if you perfected business consultancy and accumulated a large client base, or succeeded with your dropshipping blog, you might consider converting it into a business.