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[Audio] How to make money online: 5 great ideas To make choosing the best ways to make money online easier, we'll look at several key factors: Business type: whether the idea is product based, service based or driven by an audience. Effort: how much time, skill, or experience you'll need to put into the idea. Leverage: how well positioned you are to turn the idea into a money-making one that increases in value without needing your direct attention. A high-leverage idea isn't a 1:1 trade of time for money. Startup costs: the upfront budget you'll need to launch the idea. Profit potential: how much profit you can expect to make from your idea per year. 1. Sell stuff online One of the best money-making ideas for quick cash is selling stuff online. For example, you can sell clothes, furniture, and handbags from your own home, or you can buy and resell higher-value items like laptops, TVs, or phones. You can buy these products online through sites like AliExpress or from local garage sale and thrift stores—a great way to make money fast and earn extra cash. Try to sell your products on multiple platforms and marketplaces instead of just one. The more places your products live, the more likely people will be to find them. There are hundreds of online selling sites, all with their own niches and commission fees. A few examples include: eBay Facebook Marketplace VarageSale Mercado Libre Your own online store You may need to create an account and get verified to sell in a marketplace. 2. Print on demand Print on demand allows sellers to customize white label products with their own designs and sell them only after a customer buys, eliminating the need to hold inventory (which is what makes it a subset of dropshipping). When a customer places an order, a print-on-demand company will add your design to the product, fulfill the order, and ship it to the customer..

[Audio] The most significant advantage print on demand offers over dropshipping is that you control the aesthetic of your products—a key differentiator for product categories where the design is the distinguisher, like t-shirts or fan merch. When it comes to making money online, you can also use print-on-demand services to: Test online business ideas or new products lines without the risk of buying inventory. Monetize an audience you've already built, whether it's on YouTube, social media, or a personal blog. Offer diverse products by selling t-shirts, books, shoes, bags, mugs, phone cases, laptop skins, wall art, and more. Sell photos online by placing your images on physical products to sell to your fans. Overall, print on demand lets you create customized products quickly. You don't have to worry about shipping or fulfillment—it's taken care of by your suppliers. And since you have no inventory to worry about, it's a low-risk, low-investment way to make money online. Startup time: A few hours to set up an ecommerce platform, then however long it takes to create your designs. Effort to start: Very easy with little ecommerce knowledge. Time to first payment: It depends on when you get your first sale and which ecommerce platform you decide to use, but Shopify's pay periods are five business days. What to know: You can set up accounts with ecommerce platforms like Shopify that have the logistics included in their services. Payments will vary depending on how much you sell and your profit margins. Pay period using Shopify Payments is five days, plus the number of days remaining until your payout day. Requirements: Most ecommerce platforms require that you're at least 18 years of age. If you're under the age of 18, your parents can start one on your behalf. Requirements vary by state, but you need to have licenses or permits to sell anything online..

[Audio] 3. Start freelancing An increasingly popular home business idea is offering freelance services to clients online. Freelance writing, graphic design, data entry, digital marketing—almost every role an online business would hire for is viable as a freelance service. I've worked with writers, illustrators, and designers for years at Shopify, most of whom make their full-time living freelancing, not just doing it in their spare time. Almost all of these services are best positioned toward business clients, for reasons similar to why business software is an attractive product: business clients are willing to spend. What most freelancers quickly learn is they have more leverage over the price they can charge when they position their work as outcomes instead of deliverables. Put another way, businesses hire freelance writers to create content that drives traffic and leads, not for wordsmithing. Sell clients on the outcome and prove it, where possible, through customer evidence like case studies and testimonials. The last thing to consider for these businesses is that they are a direct trade of time for money. You can make good money with a small selection of high-paying clients, but the moment you stop working, the cash flow dries up. You may be able to turn a freelance business into more of an agency, where hired help handles some client work. Startup time: Varies, depending on service. Effort to start: Medium. Time to first payment: Varies. What to know: Collect customer evidence cases, studies, and testimonials to help you in getting your next job. Freelancing is a direct money-for-time trade, so you may eventually want to grow your business model into one with a standalone asset. Sell clients on the outcome you can achieve, then prove it. Know your worth. You have the power to set your pricing. Requirements: Ability to talk to clients and meet deadlines. An internet connection and laptop. You'll need to be at least 18 years old to work on freelance marketplaces..