So you want to diversify your income streams. Maybe you’ve read Rich Dad, Poor Dad, and you want to create assets that earn you money while you sleep. Or maybe you just want to start a side hustle to experience earning money on the internet.
Here are six ways for beginners to get started with making money online. I’ve also included a few success stories in each category so you can be inspired by the best creators in the field.
Please remember that wealth creation, whether traditional or online, is a long process and it will pay you dividends in the long-term. There are no shortcuts to wealth creation.
If you have a specific area of interest or expertise, starting a newsletter is an excellent way for beginners to get started with making money. As your newsletter grows, so does your expertise in the subject, and you create a vital asset for your brand that creates goodwill and income.
Increase expertise: As you continue writing and publishing more editions of your newsletter, you will continue researching deep into your subject and you gain even more expertise.
Become a domain authority: With a flourishing newsletter, you are recognized as the thought leader in your industry, and your ideas are increasingly respected.
Improve your writing: Writing is a compounding skill that translates into other fields. When you put in your reps publishing your newsletter, you get better at writing and articulating your thoughts better.
Here are a few ways to get started with monetizing your newsletter.
Allows you to add a paid plan- Monthly and Annual
Create separate posts for paid subscribers
Accept payments through Stripe
Still in beta
Helps you monetize your newsletter with ads
Finds sponsors to plug in their products in your newsletter
Marketplace for newsletters and sponsors
Charges no fees
Connect with Stripe to get started
This is an excellent introduction to what makes a good newsletter, with brand guidelines and other ideas.
If you don’t have an area of expertise and are still trying to find your niche, consider curating stories through interviews on a podcast. Podcasts are usually faster to produce than video content, and when you also include guests on your show, it’s easier to attract their audience to your show.
Easy to produce: Podcasts are usually easy to produce and don’t take too long compared to long-form video content.
Personal branding: even if you don’t have any subject expertise, you can build a brand as an expert curator.
Cross promotion: When you invite guests to your show, you increase your audience surface area as your guests will share the episode to their circles.
Here are a few ways to get started with launching a successful prodcast.
The easiest podcast tool that is also free.
Lists your show on all podcast platforms (including Apple and Google Podcasts)
Easy to record and publish your episodes
Invite guests to collaborate on the episode
Easy tool to record with guests
Publish both audio and video
Preserves good quality
Here’s how to start your first podcast, from complete beginner to expanding your audience.
Pat Flynn is one of the most famous podcasters in the world today. He has been running a podcast for more than 10 years, and if you’re interested in the field, you should learn from him.
Running a Youtube channel is very demanding, and so there are fewer creators who can get it right. But it also means that it is a little less saturated than other platforms. It is also the most powerful asset you can create for your brand because of its evergreen nature. Videos always have demand, and you’ll be doing yourself a favor by creating video content.
Make use of the audience: Youtube is a search engine giant, and you can be found by millions of users searching for content every minute
Become a thought leader: Become known as a subject expert with consistent videos and quality content
Recurring income: Thousands of Youtubers make a very comfortable income every month from their videos.
Here are a few ways to get started with creating videos for Youtube.
Easy and free video-editing tool for Mac and iOS users.
Easy and affordable video-editing tool for Windows and Mac.
Royalty-free background music for your Youtube videos.
Design intros, outros, and gorgeous slides for your video here.
Here’s a great guide on how to get started with your new Youtube channel, if you’re a complete beginners
★ Success Stories
Ali Abdaal is an incredibly successful Youtuber, with millions of subscribers and loyal fans. Here’s his guide on Youtube tips if you want to learn from him.
Gone are the days when you had to wait for a publisher to accept your proposal before you could write your own book. Today, writers have several options to self-publish their books, and ebooks are the best way to communicate your ideas to a global audience.
Self-publish: You don’t need a publisher. You can write and publish your e-books yourself.
Global audience: Ebooks can help you reach a global audience since they’re easy to distribute.
Domain authority: Writing a book is no easy task, and few writers successfully publish their work. When you have a book on a subject, your ideas are taken more seriously, and you get recognized as an expert in your industry.
Here are a few ways to publish your ebook.
-Amazon Self Publishing
Amazon Kindle allows you to self-publish your ebook to their online store. This guarantees distribution and audience, but also offers encryption, so your book isn’t easily copied.
You can sell your ebook as part of your educational offering on Podia.
You can sell your ebooks in several formats (including Kindle format) on Gumroad.
Wondering how to write an ebook as a first-time writer? Here are a couple of resources to get started.
Ever since the pandemic, adoption of online education has exploded. Teaching your subject online is a lucrative way to earn recurring income. As more students and newcomers to your field learn from you, you also establish yourself as a leader in your field.
Create once: Once created, an online course is an evergreen asset for your work.
Recurring income: Several online teachers make thousands of dollars of passive income today.
Leadership: Teachers are best poised to lead their industries, and online courses help you reach students globally and earn credibility for your ideas.
Here are a few ways to launch your online school and teach courses.
LMS for your online course
Free plan available
Offers memberships as an option
Thriving community of online teachers
Affordable SaaS for your online school
Sell courses and downloadables
Offers coaching plans as an option
Wondering how to start your own online course? Start with this guide.
If you liked this post, follow me on Twitter to let me know if you’re going to start one of these side hustles. If you’re serious about gaining traction, I also recommend building in public, I also have a video about it here.
Check out how I documented the creation of one of my digital products in this Twitter thread.