Best Ways to Make Money Online in 2020
You’re here because you want to learn the best ways to make money online in 2020.
Maybe you want to create a separate stream of income to pay a few bills? Or, you’re looking to replace your current job?
Whatever your reason, the internet has created a ton of different ways to make money online. However, making money online can be lucrative, as there are many scams and ineffective methods out there.
The goal of this post is to help you avoid that fate and learn the Best Ways to Make Money Online in 2020.
Below you’ll find over 5 different ways you can make money online that actually work. Some involve creating your own website, but you’ll also find methods that use the built-in audiences of existing platforms.
How to Make Money Online With a Website Or Blog
One of the longest-running ways to make money online is through your own website. You pick a niche, generate traffic, and then sell that traffic your products and services.
With your own website, you’ll have a lot of freedom with how you can turn a profit.
Below you’ll learn things like, how to make money with affiliate products, selling your own physical goods, courses, and a lot more.
Keep reading to learn different ways your website can help make you money.
But, before you start building your first profitable site you’ll need a place to host it. Here at BLUEHOST, we have plans perfect for those just getting started online.
1. Make Money With an Awesome Blog
Blogging is one of the Best Ways to Make Money Online in 2020. A lot of people start a blog as a way to express their views or as a creative outlet.
Yet, there are many cases of people not only earning a living from their blogs but even turning them into massive companies, like the Huffington Post.
Not every blogger will hit these figures, but if you take the right approach you have a solid chance of making money with your blog.
With a blog, it’s important to have a long-term vision. You won’t make money right away. But, as your writing improves, your skills grow, and your site picks up more traffic, it’s a definite possibility.
If your goal is to start a blog that makes you money, here are some tips to keep in mind:
Choose an evergreen topic like health, finance, relationships, hobbies, or personal growth;
Always aim to try and create the best resource on any given topic;
Learn about SEO and ranking your site in the search engines;
Network with popular bloggers and other influencers in your space.
The above tips will help you get going in the right direction. Once you have an authoritative blog that gets a large volume of traffic you’ll have many opportunities to monetize your site like:
Selling your own courses and products;
Selling affiliate products;
And much more!
Most of the methods of making money from a website can all apply to a popular blog you’ve created.
An affiliate site is built upon recommending or reviewing certain products. Then, when a reader buys that product through your link, you’ll receive a commission.
Although it might not seem like a big revenue generator, there are multi-million dollar sites based on affiliate revenue alone.
For example, Pat Flynn of Smart Passive Income generates a large chunk of his monthly income through affiliate marketing. Wirecutter is also very profitable that the New York Times bought the site for $30 million.
To start your own affiliate website, join an affiliate program that fits your site’s niche. For instance, if you have a blog dedicated to computers and technologies, you can become a Bluehost affiliate!
Take Bitcatcha, for example. This website writes reviews about hosting services, VPN tools, and site builders. Every time it mentions a product, an affiliate link is included in the post.
After signing up for the Bluehost Affiliate Program, you’ll get access to the affiliate dashboard where you can track all of your campaigns. Then, use the provided marketing materials — like banners, ebooks, and infographics — to increase sales.
While Bluehost’s affordable plans help to ensure a high conversion rate, there’s always room to maximize your gain. For that reason, it’s possible to ask for suggestions and advice from your dedicated account manager. They’ll be happy to help you.
eCommerce sites have been exploding in popularity in recent years. With the prevalence of platforms like WordPress and WooCommerce, creating an eCommerce site couldn’t be easier.
If you prefer dealing with physical products and selling something tangible, then opening up an eCommerce store could be a great fit.
There are two different methods of running a successful online store:
Creating and selling a niche physical product to a dedicated group of buyers.
Purchasing cheaper goods manufactured in foreign countries, repackaging them, and selling them at a markup.
The first approach can be very successful, but it does require a passion for the product and the willingness to do a ton of research, product development, and testing.
But, the massive success of stores like SkinnyMe Tea, BeardBrand, and Ratio Coffee show that you can reach the heights of success with your eCommerce store.
If the first approach seems a little risky for your first online business, then you might consider the second option of reselling popular overseas products. This method involves sourcing a popular product from a platform like AliExpress, repacking the product, and selling it through your own storefront.
Beyond selling the right products you’ll also need to think about how you’re going to ship your products. You can personally handle shipping and order fulfillment yourself. Or, you can employ a popular method called drop shipping, where the manufacturer handles it for you.
4. Resell Web Hosting
Reseller hosting is another great way to make money online.
￼The basic idea of reseller hosting is providing a dedicated server space, which you can use to build your very own web hosting brand. It allows you to:
Create cPanel-powered web hosting accounts;
Set custom resource limits (disk space, bandwidth, and similar);
Conveniently manage all accounts using WHM.
Since cPanel is the best known tool to manage a hosting account, it will be easy to attract new users. The server uptime is also monitored by an in-house administrator team, which ensures good uptime and availability.
Last but not least, a dedicated 24/7 support staff will be there to help with all your questions and queries.
The following perks will let you focus on user acquisition, rather than the technical aspects of server management.
If you’re familiar with how web hosting works, reselling it will be a walk in the park. Who knows, you may become one of the web hosting giants if you put enough effort!
5. Create a Digital Course
It seems like digital courses are everywhere today! So, if you have valuable knowledge that someone would pay for, this could be a great option.
In addition to having your own courses, learning platforms such as BitDegree offer a chance to become an instructor. It’s a unique opportunity to pass your skills and experience to thousands of people eager to learn about new technologies.
Digital courses can be produced in a lot of different formats, from simple PDF downloads, all the way up to self-produced video courses that have dozens of hours of content.
Creating online courses can be very powerful path. Since it’s under your control, there’s no limit to how much money you can make.
Like most other methods on this list, digital courses can be integrated into most styles of websites including blogs, eCommerce sites, and even affiliate sites.
If you’re looking to create a digital course, but haven’t settled on your topic it’s a good idea to poll your audience. Often, they can tell you exactly what they’d like to learn and would be willing to pay for.
For example, the online course Learn Scrivener Fast is completely dedicated to helping writers learn the ins and outs of the software Scrivener. The creator of this course, Joseph Michael, uncovered the need by reading the comments on Michael Hyatt’s blog. And it has since grown into a six-figure business!
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What are your views regarding the businesses listed above? Are there other businesses you think that should also be on this list? If yes, let me know using the comment section below.