By Simonetta Lein, CEO of Ausonia Partners LLC, social media entrepreneur, top-5 global fashion influencer and host of The Simonetta Lein Show.
The past year has forced people around the world to embrace being indoors. This, in turn, has made the internet a booming platform for entrepreneurs to make their marks. Several ways have popped up for people to make money online, however, only a few of them have actually yielded results. Here are three real ways to earn money using just a computer and the internet.
1. Start An Internet-Based Business
There are several ways to create a full-fledged business online. Examples include selling customized products, running a drop-shipping store, starting a blog or digitizing a business with a responsive website and connecting it to prospective customers.
As a result of the pandemic, there are more opportunities now than ever before in e-commerce. According to the Harvard Business Review, 80% of U.S. consumers’ shopping habits are changing to benefit e-commerce businesses and 43% of consumers surveyed said they now shop online more than they ever did from traditional brick-and-mortar stores. As I recently have learned from hosting a celebrity entrepreneurs panel on my TV show, having a product to sell online not only makes you revenue but ulteriorly helps to create your brand.
Of course, to be successful, entrepreneurs need to be focused on the right priorities. One of the easiest and quickest ways to accomplish this is by starting a dropshipping business, which involves very little money upfront because you don’t have to purchase inventory. Your earnings should scale up with every passing year, and subsequently so will your savings. Moving forward, this money can be increased through investments.
2. Invest In Online Financial Markets
Online financial marketplaces are a prospective way to grow money with intelligent investments. Whether it is stock trading, blockchains or cryptocurrency, a well-informed investment strategy is bound to give positive results. I personally invest in online precious metals through my company. Before making an investment, you should ask yourself: What is my risk tolerance? What time frame do I have for holding the investments? This will help you determine what type of investment is right for you.
Diversification is key. Often investors need a competent guide to advise them on necessary moves in making the right investment. For this type of guidance, a person should only trust a mentor who has real-world experience of success and growing wealth through similar methods.
This point is especially true for new disruptive technologies, such as cryptocurrencies, where both markets and government policies change very quickly. For example, just a few months ago the U.S. Treasury Department proposed sweeping new rules that would force cryptocurrency exchanges to report the identities of people transferring convertible virtual currencies.
3. Invest In Real Estate
Real estate is a lucrative market for investors considering its tremendous growth over the past few years. According to a report released by the U.S. Census Bureau, the average sale price of residential property reached $435,400 in April 2021.
Today, real estate agents have the option to provide a video tour of the property to a prospective client. In fact, many clients prefer this because they get to see their potential investment project without having to physically travel to it. Virtual tours also help investors utilize their time productively and wisely as they can now view multiple projects online and in any geographic region. In this way, some entrepreneurs have managed to survive the pandemic and escalate their growth over time.
When finding a realtor to partner with, you want to ask them where your investment will have a faster return. For example, ask if buying a house and making it a bed and breakfast would yield a faster return versus purchasing a percentage of a commercial property. Recently, I chatted with real estate investment expert Grant Cardone on an episode of my show and we both agreed that real estate is still one of the best ways to make a return on your investment.
These are the most concrete ways for entrepreneurs to earn money online in 2021. There are always opportunities for entrepreneurs who are willing to put in the effort and find experts to help guide them along the way. These are just three principal opportunities to make money online in today’s climate. Of course, there are many other ways to make money, but successful entrepreneurs are able to focus their attention and energy on the best opportunities in any given situation.