There are hundreds of different ways to make money from home.
But let’s not talk about obvious things, such as selling your old household items because I’m sure you’ve heard this advice millions of times.
And frankly, it’s quite useless advice.
If you’re looking for ways to make money from home, I’m sure you are looking for sustainable ways to do so.
How many household items can you sell before you run out of things to sell?
I’d guess not too many.
Let’s instead talk about ways to make money from home that can potentially replace your current job if you are willing to work hard enough.
You need to shift your focus to online if your goal is to make a substantial income that’s location-independent.
The United States had 263 million online buyers in 2019, and you can expect this number to reach 282.7 million by 2024.
It takes a lot of hard work to build a sustainable business from home, but It can also be incredibly rewarding.
So, let’s get started!
What is the best way to make money from home?
1. Learn to code
Coding is arguably one of the best skills you can acquire if your goal is to make money from home. There’s more demand for proficient developers than ever. And many coding jobs don’t require you to be present in the office environment.
Who is coding for?
You need to have enough self-awareness to know if your personality suits coding.
For example, if you have a difficult time sitting in one place for more than a couple of hours, it will be challenging for you to become a competent coder.
If you enjoy problem-solving, then you may have the right personality type for coding.
But the best way to find out is to get started and try it yourself.
What do you need to start?
You can access free resources on websites, such as FreeCodeCamp, Odin, and MDN. A lot of successful coders are self-taught, so there’s no reason why you can’t become a great coder by teaching yourself.
Your will to learn and practice will determine your success. But a lack of resources is not an excuse in this day and age.
How do coders make money?
Once you become a high-level coder, your possibility is virtually limitless. You can work for tech companies, or you can start a new software company.
The origin of bogging can be traced back to 1994 when a person named Justin Hall posted his first blog, which was also the first blog that’s ever been posted on the internet.
Since then, the blogging industry has produced a lot of millionaires.
Your income potential is virtually limitless with blogging unless you aspire to make hundreds of millions online.
Successful bloggers can make anywhere from a few thousand dollars a month to more than a million dollars a month.
Who is blogging for?
Before you start your blog, you need to ask yourself if writing is something you can stick with for years to come.
Sure, you can hire others to write if you’ve got money to spare, but a lot of people don’t have such luxury when they begin.
So, you’ll likely end up writing most of your blog posts until your website starts to generate some income.
If writing for even five minutes makes you want to pull your hair out, then you probably want to reconsider starting a blog.
There are many different ways to make money online, and you have no reason to try to force yourself to do something that you despise.
But, if you enjoy communicating through written words, blogging may be a perfect way for you to make money from home.
If you want to start a blog, then you need to decide what topic you’re going to write about, and there are hundreds of different niches you can choose from.
Some examples of popular niches include pet, fitness, relationship, and business.
What do you need to start?
There are a few things you need before you can start a blog.
Domain name: You need to purchase a domain name, which usually costs a little over $10 if you decide to go with the dot com domain.
Web hosting service: You need a server to host your website. Prices can vary depending on which hosting company you choose to go with, but it’s typically less than $100 a year.
And that’s all you need.
You will need less than $100 to start a blog in your first year, and I’d say you’re only paying peanuts when you consider it has the potential to generate an incredible amount of income in the future.
How do bloggers make money?
There are several different ways you can make money from your blog.
Advertisements: Once your blog starts to attract a lot of visitors, you can put ads on your website to make money.
For you to make over a thousand dollars a month, you’d need close to 100,000 visitors a month. While this may sound like a lot, It is not impossible to achieve such a level of traffic in less than a year with enough hard work.
Nonetheless, there are better ways to make money from your blog.
Affiliate marketing: You can make money from your blog by introducing other people’s products on your blog, which is also known as affiliate marketing.
For example, you can sign up to become an affiliate for amazon, and every time someone buys products from amazon by clicking a link on your website, you’ll be paid 1 to 3% of the sale.
It may not sound like a lot, but things quickly add up when you are getting hundreds and thousands of visitors a day to your blog, and some bloggers make well over five to six figures a month from affiliate marketing alone.
Your product: You can also sell your physical and digital product on your blog.
You have the potential to make the most money by selling your product since you don’t have to share your profit with anyone else.
That being said, the hardest part is creating a product that people want to buy.
In the United States, 75 million people listened to podcasts back in 2018, and this number is expected to reach 164 million by 2024 (https://www.statista.com/statistics/786826/podcast-listeners-in-the-us/).
Even if you don’t frequently listen to podcasts, you’re probably familiar with names such as Joe Rogan, who is a very successful podcaster.
Who is podcasting for?
Podcasting is for those who want to share their message through audio.
You don’t have to be on camera, and you don’t need to write. You simply need to talk.
If you believe you are talented at communicating with your voice, you’d want to consider starting a podcast.
And even if you don’t fit that description, you may still consider starting a podcast if it’s a skill you want to improve.
You don’t have to be a talented podcaster from the get-go.
What matters more is your desire to improve.
What do you need to start?
You don’t need a lot of things to start your podcast show.
Microphone: A good microphone is essential for podcasting.
People won’t even bother listening to your show if they can’t hear you, and the hours you spend on creating good content will all go to waste.
So, you never want to settle for a low-quality microphone, but that doesn’t necessarily mean you will need to spend thousands of dollars to buy the most expensive one.
You can find many microphones that will cost you less than a hundred dollars with qualities that are more than adequate for podcasting.
A high-quality microphone is all you need to get started, although you can consider investing in other equipment down the road.
Podcast Hosting: You will need a place to host your audio file, and most hosting services will cost less than $10 to get started.
Overall, you’ll only need to invest a few hundred dollars to get your podcast show up and running.
How do podcasters make money?
Donations: You may ask your listeners for donations, so they can help you continue to provide quality content. Your listeners are more likely to donate when they connect with you and your content.
Sponsorships: You can also find a sponsor to pay you. There are many companies out there who are looking to sponsor podcasters with enthusiastic followers to increase their brand awareness and sell products. It can be a win-win relationship if you and your sponsors are a good fit.
But, you also risk tarnishing your reputation if you promote questionable companies, so you want to be careful when deciding who to work with.
Advertising networks: Another way you can monetize your podcast is to place advertisements between your episodes. You can join advertising networks where you can connect with an advertiser. When you get matched with the advertiser, their ads will be placed either before, during, or after your episode. And you will be paid a certain amount of money based on the number of listeners.
3. Making an online course
Online learning is a rapidly growing market, and it is one of the most profitable ways to make money from home if done right.
People want to solve their problems, and they’ll happily spend hundreds of dollars if they believe your advice will help them.
You may feel you are not qualified to create a course since you don’t have a teaching certificate, but that shouldn’t hold you back.
You most likely have a life experience that is infinitely more valuable than any certificates.
Who is it for?
If you have any skill that you can share with others to help solve their problems, then you’ve got what it takes to create an online course.
And it really can be any topics. Let me give you a list of niches where people made millions of dollars selling their online products.
I want you to notice you can virtually create courses on any topic.
- Dog training
- Getting your ex back
- Playing golf
- A course that teaches you to be a better kisser.
And there are so many more, but this article would need to be 50,000-words long to list them all.
What do you need to start?
Online course platform: You are going to need a platform where you can host your online course. Many platforms let you start for free, and you’d only pay once you have a lot of students enrolling in your class.
Traffic: You need to find people who are interested in buying your course, and you can either use a free or paid method to accomplish this.
Some of the most popular ways to attract your potential customers are to use search engine optimization to rank your articles on Google or create a Facebook group.
You can also use paid Facebook or YouTube advertising to acquire new customers, but you’d need to become a proficient marketer to make it profitable.
There’s certainly a lot more work involved with creating an online course as opposed to starting a blog or a podcast.
Not only do you have to create an excellent product that can solve problems, but you also need to find customers and keep them happy.
These are not easy tasks for someone who’s not an experienced marketer.
So, my general recommendation would be to start with affiliate marketing.
Then, you do not need to worry about creating a product or providing customer support.
You just need to find people who are willing to buy the product you are promoting.
Dropshipping is another popular way to make money from home.
With dropshipping, you are ordering a product from your supplier only after a customer buys the product.
This means you don’t have to keep any inventories, which significantly reduces your financial risk.
You will design a website where you’ll display a list of products you are promoting from your suppliers, and you’ll bring people to your site.
When people purchase from your website, your supplier will take care of the processing and shipping of the product.
So, your primary role is to market products and offer customer support.
Who is it for?
If you are a marketing geek, then you are probably a good fit for dropshipping.
You must become proficient at communicating the benefits of your product with your marketing message. Otherwise, you will have a tough time selling your product.
What do you need to start?
Website: You need a site where you can display all of the products you will be promoting. Most people use Shopify for dropshipping, which costs less than $30 a month.
Suppliers: You can find suppliers either locally or from China. You can source your products at a low price if you go with Chinese suppliers, but the shipping time will be longer. The quality of the product can also be questionable.
Traffic: Most dropshippers bring people to their websites by using paid advertising. But, you’re at the risk of losing money if you don’t have much experience running paid ads.
So, it’s essential you first test if there’s any demand for your product with a small amount of money before you spend a lot of money on paid ads.
How do Dropshippers make money?
Let’s say you sell a product for $20 on your website. If a customer pays for your product, you just made $20. But you’d then have to subtract the product cost and the money you spent on advertising.
If your product cost is $10, and you spent $5 on advertising to sell your $20 product, then you’d be left with $5 in your hand ($20 – $10 – $5 = $5).
So, you must keep a careful watch on how much you’re spending on advertising to acquire customers. If you don’t, you’ll likely lose money instead.
5. Youtube channel
In the US, YouTube had 192 million viewers in 2018, and this number is expected to grow to 210 million by 2022.
Although the competition is getting fierce on Youtube, there’s still a lot of untapped opportunities.
Who is it for?
YouTube is for people who are not afraid to be their authentic selves in front of the camera.
You don’t need to possess a particular type of personality to be a successful YouTuber.
There are more than enough people on YouTube, so you will eventually find a group of viewers who will connect with your authentic personality as long as you persist.
What do you need to start
Camera: You don’t need any fancy camera. Your smartphone should be just fine since your message is infinitely more important than how pretty your video looks. So, please don’t spend thousands of dollars on an expensive camera when you’re getting started.
Editing software: There’s a lot of free editing software out there that should get the job done. It’s also not too hard to learn how to edit once you commit yourself to learn for a few hours.
And that’s all you need!
How do YouTubers make money?
There are many different ways you can make money from your YouTube channel.
The most obvious one is the YouTube ads.
You can also get sponsors, or offer a private consulting for your viewers.
Depending on what your YouTube channel is about, you may also create an online course to sell to your audience.
For example, if your channel is about dog training, then it’d make sense to create an online course on how to train your dog effectively.