There are many ways to make money online, the challenge is to find the best and most suitable ways for you. I have listed in my opinion the best ways to earn money online in 2020, either full time or then acquire additional income.

Huge amounts of money are made online today and the amount is constantly growing. With these ideas, you can get started, where to find the most suitable model for you and take your share of the billionaire cake of online business. Keep in mind that things don’t happen by themselves but require work and skills as well as long-term commitment.

These aren’t any pop tricks and overnight get rich gimmicks but genuine proven business models on how to make money online. In these particular ways, countless people have become enriched through the internet.

1. Set up your own online store

The first idea on how to make money online is to set up your own online store. E-commerce is a business model that is actually involved in many of the other models presented in this paper, such as selling online courses and dropshipping .

To set up your own ecommerce site, you need a website, which in the WordPress world is usually made with the help of a Woocommerce add-on and or, for example, Shopify , where you pay a monthly fee for using the software.

It is essential to find products in the online store that go well with the store and the other is to get enough traffic to the store, ie users.

2. Sell on Amazon

Many don’t know that you can also act as a seller yourself on the world’s largest online store, Amazon. In fact, a large proportion of all products sold on Amazon are so-called products from third-party vendors.

In principle, anyone can start selling their own or purchased products from some Amazon marketplaces, but often Finns start selling from the US Amazon, ie Amazon.com, because it is the largest and most advanced Amazon marketplace. 

Amazon is one of the best online business opportunities because it doesn’t require very large start-up capital like even setting up your own stone foot shop. Amazon sales require a lot of work and commitment but if successful, the reward can be really big.

3. Do affiliate marketing

Affiliate marketing is a good business model because you don't have to make the product you sell yourself, but the idea is to market a product made by someone else, for the sale of which you get a commission, or an agreed share of the sale price of the product. Sales commission varies by product but is usually quite high for more expensive products (40-50%).

Very many products have their own affiliate program and can be searched for themselves by google product name + affiliate program .

There are also sites that list huge amounts of different products for the sale of which you get an affiliate commission. Domestic affiliate networks include e.g. Adtraction , Adservice and TradeTracker , which you can join and find suitable products and services that you can recommend to your own followers.

Foreign affiliate networks include Clickbank , Commission Junction , JVZoo .

Amazon, the world’s largest online store, also has its own Amazon Associates affiliate program. 

4. Set up a blog

Many people make extra money today through a blog. The business model of a blog is based on you writing about a topic that interests people and getting traffic to your blog. You can then recommend products or services on your blog through affiliate marketing tools that are related to the topic of your blog. 

There are a lot of popular blogs in Finland, the keepers of which make quite comfortable money with them. For example, those related to travel as well as health and beauty are very popular. When setting up a blog, you need to choose a topic that interests a large enough number of people so that you can get enough visitors to your blog. This is especially true if you write a blog in Finnish.

If you are writing a blog in English, then you can and should choose a more limited niche that you will cover in your blog. This is due to the fact that although the readership is much larger, the competition in the world is also much fiercer than when writing in Finnish, and it is easier to gain visibility in Google search results.

In a blog, you can advertise in a number of different ways: such as products from Google Adsense or the affiliate networks mentioned above, or by recommending affiliate products directly related to the topic.

5. Make Youtube videos

Video is a very popular media format and its importance is growing all the time. Youtube videos, or tubeting, make huge amounts of money. Even the best Finnish tubettos account for several thousand euros a month. In order to make money with Youtube, the most important thing is to get a lot of viewers for your videos. The more viewers, the more videos it is possible to make money with.

So how do you make money with Youtube videos? It is based on the same way as for a blog, i.e. the funding model for Youtube videos is also based on advertising. You can promote a product or service in your video that may be a related affiliate product. Another way to generate advertising revenue is through promotional videos displayed on Youtube videos, of which Google pays a portion of the revenue to content producers. 

This article explains how much the best Finnish tube makers make money with Youtube videos. The best money-making Finnish tubemaker doesn't even talk about his videos, yet it has more than three million subscribers internationally.

6. Consulting

If you have something special that can help you help others then you can make it your own consulting business. So in this model, you sell your own time and work for others. However, as an entrepreneur, selling consulting services is more flexible than working in an office for eight to four. You can better define your own working hours yourself and you don’t always have to drive to work in the morning and evening rush hours.

Starting your own consulting business through your own website is possible quite easily and cost-effectively. In addition to websites, you need visitors to your site who might be interested in your services, i.e. you also need advertising, often advertising is the implementation of Google and Facebook advertising .

7. Write an ebook

An e-book is a computer-generated document saved in PDF format that can be sold to a target audience. The prerequisite, of course, is in any business that it must provide its customer, in this case its reader, with value for which the customer is willing to pay. 

You need an online sales page for the e-book, through which customers can get it, as well as traffic to the sales page. You can get traffic by advertising, in which case part of the e-book's cover goes to advertising, or you can offer your ebook to someone who already has a ready audience, such as a tubett or blogger, who get their share of sales because they use their own channel to promote the e-book. 

However, making an e-book is attractive because of its ease and low start-up threshold and affordability. Making an e-book is one of the easiest ways you can make money online.

8. Take an online course

Doing your own digital online course on a topic is also a good online business opportunity. This is basically a similar model to the e-book, with the difference that the product is wider and usually in video format, which may contain additional material in PDF format, for example.

E-learning has been on the rise for a bit longer and the trend will continue to strengthen in the future. If you have information that you can use to make an attractive online course for others then this model is worth considering because the product only needs to be built once and can then be sold basically indefinitely and the margin thus becomes very high.

An online course should solve a problem that many people have, for example, related to health or diet. The most important topics, or niches, where money moves the most are:

1. Health and well-being

2. Relationships

3. Money

4. Hobbies

9. Build a software product

There is huge money moving in the software business and the market is really big. However, getting involved is not as easy as many of the other business opportunities presented in this paper, but not impossible. It requires more resources, such as start-up capital and possibly people.

However, it is possible to implement a software product such as a smartphone button using online services such as Fiverr and Upwork . From there, you can cheaply hire a coder who can do the implementation based on your idea.

10. Set up a dropshipping online store

Dropshipping is a business model that is strongly associated with e-commerce and is actually one way to do e-commerce. I was, however, listed separately here because dropshipping is a good model in the sense that starting with it is extremely fast and affordable, as dropshipping on the initial investment is minimal. 

In the dropshipping model, you need your own online store, which can be set up with Shopify, for example, and connected to Aliexpress, in which case the products sold from your own store are handled by Aliexpress and your margin is the difference between Aliexpress's purchase price and your own sales price.

You can start selling with a dropshipping model even without your own online store by joining a ready-made service that sells products. One such is Teespring , for example , where you can sell tee shirts using your own design.

11. Sell photos online

A bonus tip on how to make money with which almost anyone can earn extra money is to sell their own photos to various online image banks that pay a commission for the photos sold. Almost everyone certainly has a lot of images in various digital archives that can be monetized in the way mentioned above.

Here are a few services that pay a premium for photos sold. The amount of fees varies by service. If you have a lot of good quality images that people might be willing to pay for, then you can always build your own website around the images, leaving all the sales revenue to yourself.

Services that pay a commission for the sale of photographs include: 

• Shutterstock
• Adobe Stock
• Alamy
• Etsy

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