In this guide, We’ll be sharing with you 7 of the smartest online income streams you can do on the side and makeover N50,000 every month.
Before we get started it’s really important that you know that you can make money online that is one of the most interesting things about the internet it has decentralized and democratized businesses, so you need not have a degree or a bulk of prior experience to know how to make money online.
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All you’re expected to have is the ability to learn and take action. You too can resign from working 9 to 5 to start working for yourself, almost all businesses in 2020 are generating their most converting business leads through the internet, so what is the point of sitting in an office in the middle of nowhere. When you can start exploring online to find new clients for your own business?
You will be able to work fewer hours and make the same amount of money because instead of giving away half of it or more to a job and you can keep it all for yourself. The goal is not to make you quit your job; at least not yet until you’re able to grow your own business on the side to the point that it’s well established.
So you can start working in a kind of a hybrid way, where you grow your business in your spare time while you keep your job, this way you make extra earnings of up to N50,000 on a monthly basis.
We have put together some viable business ideas you can consider starting at the moment.
1. Business Consulting
One of the best, most significant, and straightforward revenue streams that you can build for yourself is consulting. If you are a skilled professional, you can charge by the hour for the skills you have as a consultant.
You can set an hourly rate and when people want to book a call with you, you just need to send them your calendar link to see when next they book an appointment with you.
You can start doing a handful of consulting calls every week and for some businesses and entities who need your kind expertise until they are able to achieve their business or online revenue goals.
We have explained earlier in our guide on how to make money on Facebook, in order to succeed as a consultant online, you need to establish your professionalism, this works by starting to give out free contents and information to your target audience.
You can create multiple social media channels that you can manage at the moment and start rolling out premium informational content for free to attract your audience.
A video content posted on YouTube will also work well on Facebook. In each video session or in your content, you need to make your prospects understand that you’re available for consultations or any available speaking engagements.
You can make money through writing, we have written a guide on some of the most popular freelance websites where you can start writing or money as a freelancer. In 2021, there will be a huge increase in the number of clients in need of well-written content.
There are different types of writings, so if you loved writing so much you can start making good earnings on the side from writing content for businesses and entities in need.
If you have the interest and passion ever since you were a little kid like me, you can make money online doing it. One of the main sources of online income from writing is through Medium in the medium partner program. It is possible to make a few thousand of dollars every month.
The medium partner program is not the only place you can make money writing online if you’re just starting out, you may struggle with their requirements and getting accepted. In light of this, you can consider writing premium copies for local businesses or clients online.
You can also take freelance writing contracts; I do a lot of freelance writing for people as well, I do ghostwrite, copywriting and people have found me through my writing on different platforms such as LinkedIn.
Writing is a very fast way to start making money online because there are so many different types of writing that you can do, and everybody needs a writer, everybody needs web copy, people might need help editing articles or editing their book, really the options are endless.
Get right to it!
More like it is freelancing and doing client works. The advent of internet technology has made it simpler to make money in 2021 compared to ways available three decades back, in the modern era you can see that kids are now making money online, millennials are becoming millionaires at their young age doing silly stuff like playing games, Tik Tok craziness, etc.
But it’s about what you’re good at or has a passion for. It’s important to start with the online revenue income method that works for you and to uncover this, you need to ask yourself a question of what you’re good at, since I’ve been working online for a really long time I’ve accumulated a lot of different skills and one of those with is website development. So recently I’ve been taking on a lot of freelance website development for clients.
Beyond that people are looking to get skilled videographers, that can help me edit social media marketing video projects, it’s one of the biggest sources of online income. Most times, you need not do any advertisement at first, work on delivering qualities on your first projects and that will bring you good word of mouth recommendations.
With time, you can then scale your business further by advertisement, but usually, as a freelancer, you can explore free ways to get the word out about your skill.
One of the best ways to do that is to join freelance websites and Jobards online such as Fiverr and Freelancer.com, you can start a blog around your skill to attract targeted prospects.
4. Affiliate Marketing
The next source of online income is affiliate income now you may have heard about affiliate marketing on the internet and there are many different ways to do it. I’ve been working as an online affiliate in the web and graphic design industry for quite a while and that has since made up a significant amount of my income.
This is how affiliate marketing works, you work with products and services you believe in or that you use and of high quality, you can share it with other people and tell them why you like it, they might find that content about why you like this product through written content or through a video or even a podcast.
For example, you can start with Amazon affiliate marketing, you can start a blog around product reviews and then share your affiliate links to readers to earn. If you want a less conventional way to make money with affiliate marketing, you can start sharing your affiliate links on Pinterest and other social media platforms.
While this may not make you go that far, a better and workable strategy is to create a blog around products, use systems that make people subscribe and keep coming back to read your contents when you publish new contents with email harvesting and campaign, work on long-form and highly-informative contents to give value to your readers, consolidate your earnings and be focused.
Based on your recommendation, when somebody signs up for that service or buys that product you can either get paid a one-time fee like a referral fee or a percentage if their business model is subscription-based.
For example, there are a lot of different types of affiliate programs and links and that is a topic for another article, if you want to know more about that subscribe to our email to receive timely updates so you don’t miss when we publish a new post.
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Back to affiliate marketing, making money online as an affiliate is quite a reliable and sustainable way to make automated income over a long period of time and frequently too.
Imagine putting in the work once and then be able to secure recurring income from that for sometimes, even years into the future, but there are some pros and cons to affiliate marketing and we will discuss that in our next article, so be sure you have signed up with the above link to receive updates.
A new income stream for me right now is Youtube and it is also one of the top 5 ways to make money online in 2021. It is the second-largest platform after Facebook with Billions of users per month.
I monetized my channel last year and now I make a few hundred dollars per month off of youtube AdSense, now this is not the best way to make money online because it can take a really long time, a lot of money, time, strategy, and energy to be able to sustain a youtube channel and build it up big enough that you can monetize it.
Youtube alone is by no means something that I recommend you live off when you’re just starting out your online business, the thing about online income streams, is that they do add up and they can grow exponentially over time, so the more you diversify your online income stream, the closer you can be to quitting your job or just working for yourself.
6. Sponsorship & Endorsement
Another online income stream is sponsored videos, while I do make money with youtube ads I don’t have any control necessarily over the advertisers, on my channel and I don’t really love that format.
I much prefer to have a sponsor of a product or service that I like, an online bank or a certain type of luggage or travel equipment, basically, something that my audience on Facebook and Youtube channel would like to know about and hear an honest review from me about the products.
This might be travel insurance or a new camera, drone, I highly recommend that no matter what your area of expertise or what career path you’re on that you spend the time to create a personal brand that will help you solidify your income from sponsorships in the near future.
7. Online Courses
The next online income stream that I recommend is through online courses, I created my first online course last year, I created a new course that is focused all on how to make money online with the skills you already have, and it has become yet another online income stream for the long term.
The goal is to help millions of people work online so in order to do that I’m planning to create different digital products and courses at different price points so that everybody can access information about how to make money online and how to work remotely.
Of course, the business has slowed down a little bit since the pandemic because so many borders are closed but because I have all of those other online income streams, I’m still able to make a living and support myself.
Over time the more experience you have making money online the more your confidence grows up and the better you’ll be able to hustle and make money online whenever you need it.
Your skills advancement in learning all of the actionable online money-making methods as the years go on will make you become more comfortable versatile and skilled in developing online revenue streams.
We can help you get started the perfect way. Be it Blogging, Youtube, Pinterest, you can share your online business ideas with us today. We will offer you the professional support you need for the perfect onboarding of your business.
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