I pivoted to online business earlier this year and now make twice as much income compared to my previous job.
You can make a quick buck on the internet, but I’m strongly advising against chasing quick success. The rule of thumb is that if you consistently work toward something, you’re bound to make money in the process. Focus on delivering value and understanding the problems.
Run the halls of indifference and service the desperate.
I worked for National Geographic in China before coronavirus swept the globe and propelled us into the new normal. I decided to continue down the path that is clearly not working or try something risky and crazy. I steered most of my free time into online ventures.
I started writing online every day. First on Medium, then Quora, personal blog, then books, freelancing, and now I’m running a company, only 10 months into the new venture. I can live comfortably in London from the money I make online.
First, buckle up, and fill in your reservoirs of faith. Online business is everything but common knowledge, and most ideas may sound ludicrous to people around you.
Here are a few ways to turn your spare time into a profitable online business.
Build info products for an audience. Info products (eBooks, blogs, Youtube videos, etc.) are, but people buy them in bulk. You probably can’t make unreasonable amounts of money with an eBook, but you can write on Medium, Substack, and Vocal, or record videos for TikTok and Youtube. Find an audience, get to know what they want to consume, and deliver it. a dime a dozen
Develop SaaS tools, sometimes referred to as picks&shovels, for the gold rush. Good Annotations is a SaaS tool that helps non-designers share feedback, build product guides, and quickly edit PDFs and images. How to build SaaS tools? It’s easier than most people think. Google is your friend.
Become a VA or a VPA. If you’re looking for a more stable solution that resembles a conventional job, becoming a virtual assistant is a good choice to make side money, maybe even a full-time salary. I’m looking for VAs right now, and I’m gladly paying someone to help me with time-consuming tasks online. You don’t need a diploma or any unreasonable talent. Virtual assistants sell their time and good-will. Knowledge about web design or customer service is a plus, depending on the employer.
Invest in emerging markets and surefire commodities. Finding a fast-growing tech company and trusting it with your money is the quickest way to make a buck, but it's also the quickest way to lose money. Investing and trading is a psychological sport that most people can’t handle.
You can find a million more business ideas online. The world is changing into a new normal, and new problems are surfacing each minute.
Find one thing you’re passionate about, and dive into finding solutions.