I think it’s safe to say that 2020 has shown us that there is no such thing as job security. The past year encouraged all of us to embrace the indoors, so it comes as no surprise that the interest in making money online has never been higher.
In last week’s blog post, Miguel shared with you his top reasons as to why you should have an online income (if you missed it you can find it here) but you might be thinking “great, now I know why I should be making money online, but how on earth am I supposed to do it?” If that is the case, then I might have the answer you’re looking for, because I want to share 5 different ways on how you can monetize your skills or hobbies - right now!
How you can monetize your skill, passion or hobby
The starting point is identifying what you are going to sell. Is there something you are good at or enjoy doing that you think could be monetized? You don’t need to think big - anything that comes to mind could potentially be a business opportunity. Are you good at taking pictures? Do you enjoy knitting? Do you know a lot about social media? Do you enjoy creating art? Or maybe you have a talent for making jewelry? Do you know your way around words? Or maybe you’re good with languages? There is a market for everything, you just need to know how it can help others and how to market yourself.
If you think you found your passion or skill, but you’re not sure if you can make something out of it, check if others are already monetizing something similar. If you see that there is demand then that’s amazing! On the other hand, if there is no one selling it yet, it means that there is either no demand or that you have just hit the jackpot! In this case, you might just have to take a chance!
Another way of looking at this, is asking yourself - what problem are you able to solve? At the end of the day, it’s not just about having a skill, but the problems you can fix because that’s where the real value lies.
Alright, now you might still be wondering “but Raquel, how do you want me to make money with my hobby?”. It’s actually easier than you might think - let’s look at the examples again that I just mentioned:
- Are you good at taking pictures? - You could create an ebook or guide with all your favorite tips, or you could offer to edit other people’s pictures.
- Do you enjoy knitting? - You could knit products and sell them on Etsy, or you could teach others how to knit!
- Do you know a lot about social media? - You could become a Social Media Manager or a consultant!
- Do you enjoy creating art? - You could sell it online or offer custom projects to others.
- Do you have a talent for making jewelry? - You can sell your pieces online!
- Do you know your way around words? - You could become a copywriter or start your own blog!
- Are you good with languages? - You could teach others as a coach, or you could write guides with the best practices to learn a new language.
As you can see, there is really no limit to what you can do. You just need to find something you are good at and understand how it can benefit others. There are endless ways to monetize a skill or hobby and at the end of the day, you just need to find what suits you best and fulfills your needs. But let’s summarize the main options that you can choose from:
Create a course
Creating a course is a great way to provide knowledge to others. You can put all the information that you have in one place, and break it down so that others can learn it by themselves. In the last year, there has been a huge rise in the self-education industry. People don’t want to learn from textbooks anymore. They want to learn from people with actual experience. So, if you know something that others don’t, create a course about it and make a passive income!
Create an ebook
Another great alternative to generate an online income is to create an ebook or guide. If you don’t feel comfortable in front of the camera but still want to share your knowledge, why not put it into words and sell it as a digital product? People will be able to download it instantly and you can make money while you sleep.
Become a coach
Similar to creating an online course, you could also consider coaching. It’s where you work one-on-one with an individual, or a small group of people and help them to improve in a specific area that they are interested in. You could be an online sports coach or a language coach. You could even be a social media coach and teach people or businesses the in-and-outs of the different channels.
Offer your services as a freelancer
Working as a freelancer is another great way to create an online income, especially if you are just looking for a side hustle to get the ball rolling. You can offer your services on platforms like Fiverr or Upwork and slowly build your way up. From graphic design to ads management, blog writing, or website development. You can offer all kinds of services, there really is something for everyone!
Sell your products online
Lastly, if you prefer to be more crafty, you can obviously also sell your own products. That can be physical ones, such as clothes, accessories, candles, or anything else, which you can sell on platforms like Shopify or Etsy, or you could sell digital ones, such as templates, preset packs, or even stock music. The great thing about digital products is that you only have a one-time production cost and no ongoing costs for storing or shipping, which makes them a great option - especially for beginners.
And that’s it for today! I hope I was able to help you with your search of finding the right way to make money online. If you ask me when you should start my answer is definitely: right now. You don’t need a degree and you don’t need to be a professional. All you need is to know more or be better at something than others. Over time you will be able to improve and gain more knowledge and skills. Just continue the process of getting better at it whilst helping out others along the way.
Also, if you want to learn more about making money online and achieving financial and location independence you can sign up for our free live webinar class right here.