As the global economy keeps on developing, it’s becoming much harder to remain competitive on the job market, especially if you didn’t really devote your time to in-demand skills in 2019. People who mostly went with humanitarian degrees are now struggling to somehow enter industries such as tech, marketing, design, and various other creative sectors that are much more well-paying and accessible for an average employee.
The demand for lawyers, economists, politicians, etc. is either going down very rapidly, or the competition is increasing at an alarming rate, which is why we see multiple people with unaffiliated degrees working in sectors like tech or sales.
But not all is lost, as learning to do something is the first step in correcting a mistake, and millions of people are doing it as we speak. But soon enough, these fields will also become filled with skilled labor, which is why the time to act is now.
In this article, we will showcase several ways you can generate profits online, without requiring a degree in a specific field, or without even having some kind of prior experience. Most of them will be purely based on your ability to do research and be engaging, or simply learn a skill that is in high demand.
IMAGE: PEXELS
Influencer Marketing / YouTube
Influencer marketing and YouTube can pretty much be classified as affiliate marketing as well but on a much different level. If with a blog, the rate of success is defined by your ability of SEO, these two methods define your success through your skill of being either a good entertainer or a good content creator. With these two methods, it’s all about numbers.
The more views, likes, comments, and overall interaction you have with an audience, the more money you will generate. Depending on which industry you choose to be an influencer in your compensation will be better or worse. For example, if you’re an influencer trying to promote mobile games, your salary may be much lower than if you’re an influencer in the financial industry.
Why? Because companies involved in these industries are drastically different in sizes. The bigger the company with video games, the much smaller the chance for them to rely on influencers. But, with finances, the odds are entirely swapped due to similar restrictions.
Overall, with YouTube you can always rely on the monetization of your videos, considering that you follow all of the platform’s guidelines, but with other social media platforms like Instagram, you’ll be completely reliant on companies noticing your page and deeming it as advantageous. The competition there is much different.
But take a look at some of the most or mildly successful YouTubers. Almost all of them have managed to turn it into a sustainable income that they can live off of and support themselves, with relatively no requirement of sophisticated skills.
Affiliate Marketing
Affiliate marketing is quickly becoming one of the most desired methods of distributing products for large companies. The most basic explanation for affiliate marketing is “the assistance of conversion”. For example, let’s say that you have a website where you like to talk about video games.
This can be industry news, video game guides, video game reviews, or pretty much anything that can be associated with this industry. There is a high chance that you have some kind of traffic on this website; these are your viewers.
Now imagine that a company approaches you and tells you they’ve just developed a new game and would really like it if you could give it a review and publish it on your website. They would, in exchange, provide you with a link that you can insert in the article. If this link is clicked, it will generate you a little bit of income.
But the real income comes from the viewers actually making a purchase. Therefore, if somebody buys the product with your affiliate link, you get a small cut of the price. For example, if the item costs $100, you’ll most likely be given $20 for bringing this person to the company.
Some of the most effective ways to generate income through affiliate marketing are to service large companies like Amazon or Alibaba or several financial entities. But very few know the gold-mine, which is an online gambling site as it always attracts casinos to be your clients.
Why? Because most countries prohibit extensive marketing for gambling but doing it through an unaffiliated website is allowed. You basically become one of the best sources of customers for these companies, for which they’re ready to write an extra thick check.
When you’re doing affiliate marketing, all you’ll need to know is the industry you’re writing about, but nothing too extensive is required. You’ll have to learn how to write captivating articles, or how to convince viewers to either follow a link or purchase an item.
But, your most significant advantage so far, would be to learn Search Engine Optimization (SEO). Through this, you’ll be able to acquire new viewers every day as Google would rank your website much higher for specific queries.
Freelance A Skill
The next best thing to earn online is through a skill you’ve developed over the years. But make sure that this is a skill that can easily be freelanced. These are usually things that don’t require a person staying in an office, or constant interaction with dozens of co-workers.
Things like design, website or app development, sales consulting, digital administration, or even writing can all be classified as freelance skills. Furthermore, almost every skill that can be freelanced is in high demand, especially if it has something to do with creative thinking or technical skills like coding.
For example, if you’re an iOS developer, with around 2-3 years of experience, it’s quite likely to reach a salary base of $50-60/hour just from freelancing. Add to that a full-time job if you want to, and you’re well within the range of joining the 1% of your home country.
However, starting off as a freelancer is a bit tough, as you will need to work on your own projects to somehow display your skills, or try self-branding. But you know what they say, right? It’s the 1st million that’s tough, after that it becomes much more manageable.
You can apply that to freelancing as well. The moment you get one client and service them with the utmost quality, you are guaranteed to either have a returning customer or a flow of new ones through your developed portfolio or through word of mouth.
Thousands of people are working from their home offices nearly every-day now, replacing the traditional 9-5 jobs with flexible work hours, doing what they love, and earning a decent living as well.
E-commerce Store
Next, we have a bit harder endeavor, to be honest. People who start an e-commerce store, are either forced to close shop or grow big enough to base a whole company around it. But out of all the ways to generate money online, this one may be the hardest simply because there is so much competition, from both small-time e-commerce stores as well as huge companies such as Amazon or Alibaba.
The amount of marketing one needs to do in order to get at least one order from the website is just unimaginable, but, should one ad appear in the right place at the right time, it could lead to the website simply blowing up in terms of popularity.
The most important thing to pay attention to when managing an e-commerce store is a niche. If you have a niche of, let’s say headbands, people will immediately remember you for that and will recommend others to visit your website instead of saying “buy it on Amazon”.
Compared to these large companies, you will have to be better in terms of delivery and quality, as most people will largely ignore a slightly larger price. The best part about e-commerce stores, however, is that they have unlimited scalability. You can just as quickly cover the international markets, as you’d cover your local markets.
Investing / Trading
Another form of making money online is just investing in various assets that you believe will be worth much more in the future. This is sometimes referred to as “spending” money to make more money, but in all honesty, you’re not spending anything.
Once you’ve allocated some funds to this particular purpose, you always have the chance to just take them out the way you put them in the first place. The way people generate income through investing is that they utilize the markets’ volatility.
For example, a specific item may cost $100 today, but tomorrow it will cost about $80, you make a prediction that it will go back up to $100 again; therefore you buy it at $80. Once it goes back up to the price, you sell, and you generate a $20 profit.
Now multiply that by around 1000 or even more, and you’ll get a good glimpse of what thousands of traders are able to make within months of trading on the financial markets. The good news is that you can always choose what you want to trade.
These can be currencies, company shares, cryptocurrencies or just precious metals and other commodities like oil or beans. In this specific activity, it will be up to your knowledge of the markets, the events that affect the prices, or just plain old luck of placing a profitable trade.
If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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