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5 Ways to Earn Money From Internet

Updated on June 4, 2020
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Vikram Brahma is a Digitalpreneur, Author, Blogger, Writer, & YouTuber. He loves to write content & spend time working from home.

Introduction

Today, I am very happy to share another journey of a successful online entrepreneur. When I read the successful journeys of any online entrepreneur then I can feel their stories completely. I feel that one day my own story will be like them. That’s the dream I hold for myself and I will do anything to reach my goal.

So, today I am going to share the journey of Carrie Wilkerson. She is the author of a book called “Barefoot Executive”. In this book, she shared her journey of becoming a successful online entrepreneur. In fact, I will recommend every woman to read her book and get the inspiration.

You will be surprised to know that she never had any interest in building an online business. Like any other student, she completed her basic education and got a job as a teacher. And she was happy. But then she got married, gave birth to two kids and then she decided to take care of her kids by leaving her job. During those times she understood the importance of creating an online business.

And today she is running multiple online businesses and even her husband is now working with her. In this article, we are going to learn different types of online businesses she mentioned in her book. These business models look similar to each other but there are some differences. So, let’s see what these business models are.

Myths About Job

The first thing we need to understand that there is nothing like a permanent job. Many people believe since they are working in one company for many years so they are in a safe position. So, they think they are the most valuable employee of their company.

But in reality, whenever some difficult time will come, they will be the first ones to be asked to leave the organization. For example, I was working for Motorola as a third party employee but during the recession, I was asked to leave the organization without any future. And now the same thing is happening due to corona and lockdown. In India alone, millions of white collars have lost their jobs.

But since I have learned from my past experience, I started my online journey eight months back. And today, I have my own online clients and projects so I never have to worry about losing my job, again. So, the author suggested we change our mentality and start working towards building your own online business. And to create multiple sources of income. Now

Service-Based Model

The first model which the author suggests is called the service-based model. She considers this method as the easiest method. Because this method is based on the service in which you are already good at. And even if you’re not good at then you can learn some skills online and become good by practising.

I earned my first online income through this model. I did a video transcription and I earned my first $11 online. When you provide services under this service-based model you will be called virtual assistance.

Under virtual assistance, you can provide many services like letter writing, email writing, article writing, transcription, content writing, ghostwriter, internet research, data entry, bookkeeping etc.

For example, my good friend Ajay Mishra is an ex-account planner. So, he is good at planning, making presentations, idea generation, concept visualization, research online and offline techniques etc., and therefore he offers these services to his online clients. In the same way, I know basic website designing and Facebook advertising so I offer these as my services.

Remember to improve your skills higher you earn but it also depends upon the kind of service you are going to provide. Some services pay less income. So, try to learn some high demand skills.

Expertise-Based Model

The difference between the service-based model and expertise-based model is you can have more free time for yourself and family.

Let’s understand this point with one example. My friend Ajay Mishra has over fifteen years of experience in an advertising agency as an account planner. He was the Vice President in Lowe, Mumbai. Suppose in future he starts his own online courses where he will teach various aspects of account planning. As such types of courses can be run on auto-pilot and then he can have more time with his family and friends.

Those who sell courses and provide consulting come under this expertise-based model. As only an expert can do consulting and charge a heavy price. It’s not that you need to have 15 or 20 years of experience but at least you need to be an expert in your domain.

Knowledge-Based Model

Now under this model, you can start your own blog/website, podcast or YouTube channel. So, the entrepreneur loves to share high-quality contents online for free. And then they make money by using available platforms.

So, for example, suppose tomorrow my friend Ajay starts his own YouTube channel and shares his knowledge related to account planning, market analysis, how to come up with ideas, how to make presentations etc. Then in future, he can monetize the channel and earn money through Adsense and affiliate marketing etc.

By the way, on YouTube, there are many content creators who are doing this task and even they are earning.

Goods-Based Model

Well, do you know the global eCommerce market is expected to hit up to $4.5 trillion in 2021? And in India, it is expected to grow up to $200 billion by 2026. So, our next business model is based on an eCommerce platform.

With the help of the internet, you can now sit in your home and still, you can do business and earn money. Many people around the world used this business model to earn huge money.

When we talk about eCommerce websites we have to remember that this is a specialised business model and needs proper training. You have to devote your energy and time to learn this skill. This cannot be learned in a few days. And it is said eCommerce is the future. Now, let’s see the last business model.

Referral-Based Model

Now suppose you don’t want to manufacture goods by yourself. Then we have the last business model which you can try. In other words, this model is also referred to as affiliate marketing.

In simple words, you promote goods and services online to other people. And when these people purchase anything by using your referral link you will get the commission. This happens in the offline world also, when some broker will sell the home to the target customer and in return, he will get the commission.

Some internet marketers believe this is one of the best business models. Because you don’t have to take care of customer enquiries, delivery issues etc. And by the way, many online bloggers earn well by using this business model.

To start this business model first, you need to join the referral program and start promoting their products and services online. Even I use this business model. For example, if you like this article and want to read this book then click this Amazon link and order this book. This is an example of an affiliate link.

Conclusion

I have shared five online business models. And people are earning money by using these. And even you can start and earn money. But as I always say there is no shortcut. You have to do your homework well. So, think which option will be better for you and start learning and exploring those options.

You might have to take some online courses, so do it without fail. Invest money in gaining knowledge. Remember there can be another pandemic or lockdown in future. So, go online, start your business, search for such a business model which is recession-proof and through which you can learn multiple sources of income.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2020 Vikram Brahma

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