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How to make money is one subject a lot of people are trying to understand. Much more, in a world where a lot is happening online, the focus is gradually shifting to how to make money online. It is this ‘craze’ to make money online that has given rise to ‘get rich quick’ scams, Ponzi scheme and other forms of internet scams.
However, there are still lots of legit ways to make money online.

Why is making money online an issue today?

The world has evolved in recent years due to advancement in information technology-IT, and the emergence of the internet; a revolution that has impacted every aspect of human living. Consequently, the world has become a global village as earlier prophesied by erudite Canadian Philosopher, Herbert Marshall McLuhan.

According to Statista, as of January 2021 there were 4.66 billion active internet users worldwide – 59.5 percent of the global population. Of this total, 92.6 percent (4.32 billion) accessed the internet via mobile devices. Similarly, there are 4.2 billion social media users.

Today, technology and the internet has removed geographical boundaries and barrier such that cross-cultural communication happens today just by the dial of the telephone or text messaging either via mobile phones or social media networking sites. It is also possible to transact business today online via the internet. The result of this is that everyday, a lot of money changes hands online. With that much activity happening daily, the online space clearly is a potential gold mine for anyone who can master one or more ways of making money online.

There are countless ways to make money online. However, this article is restricted to only 7 that I have tried and have first-hand experience with.

1. Become an Online Tutor
The online or self-education industry is said to be one of the fastest growing industries today. According to a report by research and market forecasts, the Online Education Market will reach US$ 350 Billion by 2025. Online coaching, beyond a doubt, is a foolproof money money avenue.

There are 3 major aspects you can coach others on and they are your skills, experience or knowledge.
So whether you have overcome an adverse situation in your life, or you have a skill that people are paying to learn, like Canva, Photo editing, etc., the you can make money online tutoring others.

Furthermore, you don’t have to know a lot of things to be able to teach others. As long as you are ahead of your target audience in that particular area, then you are qualified to coach them. In the words of Eva Alordiah, all you need is just a 10% edge.

2. Become a Consultant
Consulting also falls under the self-education industry. It is sometimes misused interchangeably with coaching. However, there is a huge difference between coaching and consulting.

Consultants are specialists or experts in certain fields either by training or long years of experience. Therefore, are able to analyze situations within the field and proffer solutions. For example there are management consultant, business consultants, tax consultants, etc. In the same vein, do you have expertise in a particular profession or subject, then you can carve a niche for yourself as a consultant in that field. The upside though is that you may need to take certificate courses in consulting so as to position yourself properly.

3. E-commerce and Dropshipping
As earlier highlighted, technology and the internet has made out of the world a global marketplace. E-commerce today is a booming industry especially with the ongoing pandemic. People are beginning to embrace shopping for items online and having them shipped to their locations. Online retailing is a space you can find yourself in. Dropshipping on the other hand is a less capital intensive aspect of e-commerce where all you need to do is provide a link between a customer and a manufacturer. This way, you don’t get to buy the goods and stock before selling, you just simply take customers orders and have the manufacturer ship them to the customers.

4. Create Digital Products (e-books, courses)
Sharing your knowledge or expertise via courses and eBooks is one way you can make money online. The world is fast embracing the idea of self-development and self-education and the result is that people are beginning to turn to the online space for specific knowledge. And in recent times, the pandemic and the lockdown meant that people now have to explore learning via eBooks and online courses. This is why the self-education industry is experiencing a boom at this time and the trend is not about to stop. Educators, consultants, coaches are beginning to embrace the idea of having their knowledge packaged in online courses and eBooks where people get to pay and access the information. This is also called digital learning. You can also have your expertise, knowledge or skill-set packaged in form of an eBook or a video course, host it online and have people pay to learn from you.

5. Become a Freelancer
Freelancing describes the act of working independently and on temporary contracts. For several reasons, freelancing has become a thing today. One of the reasons for this is that companies find using freelancers as a more affordable alternative to hiring full-time employees. This practice has led to the growth of online platforms which seeks to connect employers with freelancers. Such Platforms include but not limited to Upwork, Fiverr, Freelancer, etc. Skilled labours such as photo editing, writing, graphics design, web design, UI/UX design, proofreading and editing are some of the services that are sold on these platforms. If this option appeals to you, freelancing can be a source of good income.

Read this blog article for more information on how to start out as a freelancer-https://theoptimaledge.com/freelancing-secrets-how-to-succeed-freelancing/

6. Be a Social Media Manager
The Social Media has evolved over the years both as a networking platform and now as a marketing alternative to the traditional media. Companies and organizations now seek to have strong online presence and are on the lookout for social media managers. You can position yourself as one and earn money managing the social media activities of these organizations. What you simply have to do to start out is to take courses and master one or more social media platforms and you can begin pitching for social media management roles.

7. Become an Affiliate Marketer
Affiliate Marketing is such an amazing way to make money online. Because while some of the other online gigs require that you create a product, with Affiliate Marketing you do not need to. Affiliate Marketing is simply you promoting other people’s and earning a commission from every sale made The list of things you can promote is endless, from retail products, to courses, trainings, name it. And the lucrative aspect is that you can be an affiliate marketer for as many brands as you choose.

Quite frankly, making money offline or online requires dexterity, hard-work, commitment and patience. Hence, you will need all of those attributes while mastering whichever you choose amongst these ways of making money online. Although, one thing is sure, the more you learn and stay updated on trends in the online space, the closer you edge towards cracking the code of these online opportunities.

7 Legit Ways to Make Money Online
1. Become an Online Tutor
2. Become a Consultant
3. E-commerce & Dropshipping
4. Create Digital Products
5. Become a Freelancer
6. Be a Social Media Manager
7. Become an Affiliate Marketer