TOP 10 INCOME SOURCES IN 2020

TOP 10 INCOME SOURCES IN 2020

So, you wanna create multiple streams of income to pay some extra bills or, you are simply looking forward to quitting your typical 9 to 5 job. There are thousands of ways you can make money online. All these methods discussed below require some form of effort. If you are looking for some miracle which would make you a millionaire then this is probably not the right place for that. Hope you find this blog informative and do share your comments down in the comments section.

Here are our top 10 picks for making money online in 2020 and 2021.
One of the most effective ways is through your own website. You will pick a niche, generate traffic and sell your products and services to your audience. Don’t know how to make a website? We got you covered. Get our E-book on coding less website absolutely free.

1.) Make Money From Blogging:-

Blogs are written to express your knowledge, ideas or views. It attracts an audience because it provides something of value to them before asking for anything in return.
This could be used to generate $1000-$1500 per month and if done properly can make millions.
Blog on topics which are from your interest rather than hot topics.
After earning you could hire professionals to work with you. Social media platform contributes to generating traffic to your blog.

You could follow the steps to start your own blog:-

  • Create your blog with Blogger or make your own with WordPress.
  • Publish content regularly for a few months.
  • Get traffic with SEO and various social networks.
  • Make money with Google Ads, affiliate marketing, sponsored ads and many other ways.

So what are you waiting for, select a domain name and hosting and start your blogging journey today? For more information on starting a blog click here.

2.) Affiliate Marketing:-

Affiliate marketing refers to selling products from other sources and earning affiliate commissions. Loads of income can be generated if done properly. All you have to do is to join the affiliate program of your desired company and use your special link to drive traffic and get sales to earn affiliate commissions.
You can join various affiliate programs offered by top companies.

For complete information on affiliate marketing, click here.

Follow these steps for setting up your affiliate marketing channel:-

  • Join good affiliate programs. Clickbank, Jv Zoo, Warrior+ are good for people who have previous affiliate marketing experience. If you are just starting out we would highly recommend Amazon affiliates. For complete information on Amazon affiliate program, check out our affiliate program guide which covers the entire concept of affiliate marketing for free.
  • Get the unique tracking links to your blog and create backlinks to other websites.
  • Promotion on a social network. Use various paid methods like PPC (pay per click), Native advertising.

Promote your products through blogs, micro-niche sides and best affiliate programs. Try to detail information on the company, products, future scope, conversion ratio etc.

Amazon, BlueChart and ClickBank provide good affiliate programs.

3.) Drop-Shipping:-

In dropshipping, you can sell products without an actual inventory or a warehouse. All you need is a computer, an online store and knowledge of marketing and selling products online.
You need to find a hot selling product using google trends using tools and find a trusted supplier and sell the products at a good profit.
If done properly you can make around millions.
You can use trusted source Oberlo which provides trusted suppliers, hot selling products and helps in getting traffic.

You can follow these simple steps to get started:-

  • Select a niche.
  • Perform competition research.
  • Find a reliable supplier from Ali Express or various other sources.
  • Build your e-commerce website.
  • Create a customer acquaintance plan.
  • Analyse and optimize.
  • Try various paid tools to get efficient results.

For complete information on drop-shipping click here.

4.) Become a Youtuber:-

We all use Youtube as a source of entertainment or satisfying our curiosity.
After all, Youtube is the second biggest search engine after Google. When it comes to making money online Youtube is the first platform that strikes our mind, but let’s accept this either we don’t wanna invest in buying professional photography equipment (that can cost thousands of $) or we might end up giving up too soon as we don’t see substantial results. Typically Youtubers get around $5 for 1000 views. This may not seem much initially but it gets compiled for all your videos and you can start seeing a decent income within a year. The initial income would not be significant enough but once you have enough videos on your channel you could reach a full-time income within a few years. Let me give you a small tip, nothing new but most people tend to overlook it. If you wanna succeed in Youtube you should be consistent in providing quality content to your subscribers. Most people who start their Youtube career tend to give up too early (without even tasting the actual success).
Youtube income depends upon several factors-
1.Video niche
2.Video language
3.Target location
4.Video engagement

Follow these steps to start earning from Youtube :-

  • Create Youtube channel, add a profile pic and start the channel.
  • Create videos upload and publish add title, descriptions, tags and other details.
  • Promotions with SEO, SVO collaborations, paid marketing and other methods.
  • Earn money using Youtube ads, affiliate marketing, sponsorship and other methods.

5.) Become a FreeLancer:-

Freelancing would probably be the most emerging industry shortly. A majority of you can secure your future in it and earn around $3000-$5000 per month. It is not just limited to content writing, web designing.
You could do a million other things.

This is how you possibly start freelancing:-

Develop at least one freelance skills like writing, web design, graphics, digital marketing, video making, and many more.

  • Join freelance websites like Upwork, Fiverr, guru, 99ideas etc.
  • Ask your clients to write positive reviews.
  • Create a portfolio, collect testimonials, make your profile attractive.
  • Charge a per your expertise, you could even work for free and seek good ratings and reviews.
  • Try to respond to clients in realtime.
  • Understand the project carefully and update as per client’s needs.
  • Share all your projects on Facebook, Instagram and various social networks.

You can sell various physical as well as digital products, your own lectures. You could probably launch your own startup.

How to start an online business:-

  • Research the market and get the product you want to sell.
  • Make a proper business plan consider things like inventory, investment, location etc.
  • Create a website or hire a developer.
  • Promote products online and offline.
  • Analyse your whole business and reinvest the profit in order to scale.

6.) Launch a website, and create your own brand:-

  • Sell physical products like accessories, decor, furniture etc.
  • Sell services through websites/apps. Charges for 30 min -1 hours consultancy like career, health, beauty.
  • Give training and courses like English, IT courses, business, lifestyle and personal development.
  • Launch a start-up if you have a unique idea that can give something new to the world or solve some specific problems.

Starting your own brand and working with dedication you can make you a millionaire.

7.) Buying and Selling Domains:-

Buying and selling domains is a great business that you can do from home just by being online.

In case you are new to this, it is important to know the following things:-

  • Best place you can buy a domain.
  • Places to sell them.
  • Domain transfer process to a buyer.
  • Price at which you should sell domains.
  • Trademark issues while buying and selling domains.

Check out our complete domain buying guide.

Buy and Sell Domain names for a profit with 4 tips:-

  • Limit your purchases to .com or .co extensions.
  • Search for the names that offer real value.
  • Check domain availability before getting excited
  • Estimate brokerage charges and transfer fees.

8.) Podcasting:-

Advertising and sponsorships are the primary source of making money from podcasting.  You usually get around 5000$ to 10000$ to work with them if you have descent experience in your field or a huge social following.

Following are the steps for starting your podcasting journey:-

  • Select a specific topic for your podcast.
  • Devote yourself to making the best podcast possible.
  • Develop a Unique Selling Proposition (USP) for potential advertisers.
  • Make money with your podcast.
  • Make money by helping others with podcasting.

Making money from a podcast is not automatic, and even experienced, talented marketers need at least a year to really get things to click. That being said, starting and building a podcast is a great way for you to reach your target audience, provide valuable contents, and make your money in the process whether you did it for your business or help other business in the way.

9.) Kindle eBook:-

If writing books interests you, then self-publish eBooks and paperbacks with Kindle Direct Publishing, is without a point of contention, the best option for you to reach millions of readers on Amazon. Publishing takes less than 5 minute and your book appears on your kindle stores worldwide within 24-48 hours. 
One can keep control of one’s right and set their own list prices and also make changes to one’s books at any time. One can earn up to 70 per cent royalty on sales to customers.

Follow the steps below to get started:-

  • Find a niche or a market.
  • Do keyword research.
  • Create a winning title and cover.
  • Create quality content.
  • Set up a kindle direct publishing account.
  • Market and promote your books.

10.) Coaching and Consulting online:-

With the low cost of communications and technology, you can connect with anyone around the world.
If you are already making money selling information online via Kindle books, affiliate marketing, or your own information products as mentioned above then you definitely have the opportunity to add coaching and consulting online as a source of revenue.

With tools like Skype, video conferencing and webinar technology you can offer one to one calls, and small mastermind meetings.
A simple Kindle book or ebook sale can lead to a high-end client who wants to pay to work you one to one.
Offering coaching and consulting is one of the highest price methods of generating income.
Those were our top recommendations for creating an income source in 2020-2021. All the sources discussed here are great and do not require much time to set up. But to succeed you must be consistent and you shall see results for yourself.

Leave a Reply