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Making money online can be confusing with so many options out there. I’ve been doing it for almost ten years, starting when I was a teenager. Now, at 23, I want to share what works and what doesn’t. Let’s break it down with a tier list, so you know the best and not-so-great ways to make money online.
1. Affiliate Marketing (S-Tier):
Affiliate marketing, the pinnacle of online income, involves recommending products and earning a commission.
The magic lies in not needing your product, allowing for potential passive income. It’s a tried-and-true winner.
Affiliate marketing stands out due to its potential for passive income. By promoting products and earning a commission, individuals can generate revenue without creating their own product.
2. Faceless YouTube Channels (S-Tier):
Faceless YouTube channels, where you don’t need to show your face, are an excellent choice for steady income over time. Creating videos on interesting topics can lead to consistent ad revenue.
Faceless YouTube channels provide a platform for creating content without revealing your identity. The ability to generate revenue through ads offers a reliable income stream.
3. Digital Products with Affiliates (A-Tier):
Creating your digital product and having affiliates promote it is a rewarding option. While it requires a specific skill set, the potential for passive income makes it a solid choice.
This involves creating a digital product (course, guide) and having others promote it for a share of the earnings. While skill-dependent, the collaboration with affiliates can lead to sustainable income.
4. Instagram Theme Pages (B-Tier):
Instagram theme pages involve choosing a topic, posting pictures, and selling shoutouts. It’s relatively straightforward but requires consistent posting for success.
Instagram theme pages can be profitable by selling shoutouts. However, their non-evergreen nature necessitates regular posting for sustained traffic.
5. E-Commerce (C-Tier):
E-commerce, the process of buying or making products to sell online, is a decent option. However, it’s highly competitive, and finding the right product is challenging.
E-commerce involves selling products online, but the competitiveness and the need for a suitable product make it a moderately challenging endeavor.
6. No Code Website Design (C-Tier):
No-code website design allows you to create websites without coding. Its versatility depends on your chosen direction, whether it’s selling products or freelancing.
No-code website design offers versatility, enabling individuals to create websites without coding. Its effectiveness depends on the chosen path, whether personal ventures or freelancing.
7. Drop Shipping (D-Tier):
Drop shipping, where you sell products without stocking them, is okay. However, the apparent high revenue might not translate into significant profits due to associated costs.
Drop shipping involves selling products without holding inventory. While it seems profitable, the actual profit margins can be lower than anticipated.
8. Freelancing (E-Tier):
Freelancing, assisting companies with online tasks, is a decent starting point. However, it involves trading time for money, lacking ownership over the work.
Freelancing allows individuals to offer services online, but it involves trading time for money. The lack of ownership over the work is a drawback.
9. Online Surveys (F-Tier):
Participating in online surveys, answering questions for minimal pay, is not recommended due to the low returns on time invested.
Online surveys provide minimal financial returns for the time invested, making them less favorable compared to other options.
10. Transcribing Video and Audio (F-Tier):
Transcribing video and audio content for low pay is not recommended due to limited earning potential and better alternatives.
Transcribing video and audio content may offer minimal returns, making it a less attractive option compared to more lucrative alternatives.
Making money online is a journey. Look at what you enjoy doing, your skills, and how much time you have. The tier list can guide you, but remember, success comes from finding the right balance. Choose wisely and go after your online goals with determination.
Please don’t forget to clap, follow, and share this post to help others in your friends and family circle.
By sharing this with your Facebook, Instagram, and WhatsApp groups, you’ll not only support me but also reap the rewards for your valuable contribution.
Your efforts will undoubtedly be recognized and appreciated for the excellent work you’re doing.
It’s time to take a leave, thanks for your valuable time.
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