My son asked; ‘How can I earn £10k per month working online?’
Earning income passively is what the wealthy do, through earning rent from property, ground rents from land, dividends from shares, and so on. For most of us, we earn our money through working for it daily, and certainly not passively.
But times are changing and it is becoming easier to start a business from home and working at home, whilst not typically a passive earning method, can however grow into a means to earn income in this manner eventually. It takes time but it is possible.
My son asked me to list the ways that one, well he, could earn over £10,000 or more per month online from home with no start-up cost. Certainly a challenging goal, but it is possible with the right plan and effort. Here are a few strategies that an individual can use to reach this income level:
Affiliate marketing: Affiliate marketing involves promoting other people’s products and earning a commission on any sales made through your unique referral link. This can be done through a website, blog, or social media channels. To be successful with affiliate marketing, you will need to have a large following or a highly targeted audience that is interested in the products you are promoting.
Selling digital products: Another way to make money online is by selling digital products such as e-books, courses, and software. The advantage of this method is that the products can be created once and sold multiple times, providing a passive income stream. To be successful with this strategy, you will need to have a specific niche or expertise in a particular area.
Dropshipping: This is an e-commerce business model where you don’t need to keep any inventory, you simply need to find a supplier that will ship products directly to your customers. This method requires a website and some marketing to attract customers and make sales, but it can be a low-cost way to start an online business.
Investing in stocks, mutual funds, and other financial instruments, such as crypto. Investing in the stock market can be a great way to make money online, but it does require some initial capital. However, you can start small and invest small amount of money and as you grow, you can invest more and more.
Selling on e-commerce platforms: Selling on e-commerce platforms like Amazon and Etsy can be a great way to make money online with no start-up cost. These platforms have a large customer base and handle the transactions, shipping, and customer service for you.
Freelancing: Freelancing is another way to make money online, by offering your services such as writing, graphic design, coding, or consulting. There are many platforms like Upwork, Freelancer, and Fiverr where you can find work and start earning money.
Network Monetisation: Building a personal network and monetising it, whether through sales or marketing, financial services or other activities can build a passive income, one that can also benefit from viral growth through the network effects that networks often exhibit, and sometimes when you least expect it.
Online coaching or consulting: If you have a specific skill or expertise, you can offer coaching or consulting services online. This can be done through video conferencing, phone calls, or email.
YouTube; posting videos on YouTube can grow passively, as viral propagation of your content takes place.
Remote work; many people these day work remotely, even as digital nomads, and package up a number of roles, such as customer service, social media work, data entry. These are work that can be undertaken by anyone, at whatever age, from school leavers to the elderly, and for many such remote work as part of the gig economy is a means to generate a sense of self worth, as well as financial reward, and that can enhance wellbeing and health, even reduce loneliness
It’s important to note that making £10,000 or more per month online from home with no start-up cost is not an easy task, it would take time, effort, consistency, and patience. In order to be successful, you will need to find a profitable niche, build a following, and consistently create and promote high-quality content. Additionally, you will need to continuously learn and improve your skills to stay competitive.
But other than money, what are the benefits?
But whether you aim to achieve such a target or are content to earn a regular passive income, there are other rewards to be had from online businesses. The sense of self worth, perhaps for someone with cognitive difficulties that has found a passion and converted into into a revenue generation business, or simply the joy of running your own business, being your own boss, seeing growth, and creativity, to name just a few. And of course if you can generate a passive income, such as many platforms offer from the value of monetising your own personal network, then a monthly income can still be a life changer as it assist paying those bills, such as for home care or childcare that just never seem to end.
Conclusion
In conclusion, making £10,000 or more per month online from home with no start-up cost is certainly a challenging goal, but it is possible with the right plan and effort. There are many ways to make money online, and it’s important to find the right fit for your skills and interests. With dedication and hard work, you can turn your dream into a reality.
For, these days anything is possible.
