Content of the material
- The Bottom Line
- 22. Start a Data Mining and AI Firm
- Two most prominent areas where you can capitalize on your data mining and artificial intelligence services are:
- 1. Data Mining Consultancy Services
- 2. Help companies in marketing and advertising
- 3. Utilize Data Mining & AI in Merchandise Planning
- Important Takeaway
- 26. Launch Your Business with Kickstarter
- What are the best Swagbucks deals?
- 7. Get Paid To Complete Transcription Tasks
- No. 4: Launch a Physical Product and Grow a Tiny Retail Empire
- Ecommerce Earning Potential
- Tips to Help You Succeed in Ecommerce
- Does The Envelope System Really Work? My Two Cents
- Summary of How to Earn Free Money
- 3. Scan Your Groceries and Get Cashback Fast
- Everything under control
- No. 2: Become A Creator and Get Paid Directly By Followers and Fans
- The Earning Potential in Becoming a Creator
- Tips for Being a Successful Creator
- Teamwork vs ClickUp: Battle of The Best Project Management Software
The Bottom Line
While these are some of the ways you can make money online, this list isn’t all-inclusive. We didn’t talk about Facebook ads, retail arbitrage, membership groups, or a ton of other strategies!
If you need to earn more money on the side, remember to think about all the different ways you can earn money with the internet. Even if most of these strategies don’t sound like much fun to you, chances are good that one of these ideas is perfect for your lifestyle and goals. Start earning money online and I guarantee you won’t regret it.
22. Start a Data Mining and AI Firm
Data is the next big thing. It’s the current big thing.
Just name any of the behemoth companies, you will realize that all of them function on data and how to use it to generate more revenue.
If you want to get started, you don’t even have to open up a giant enterprise to leverage data. You can grow from strength to strength, start solo by opening up a data mining and Artificial Intelligence firm of your own.
Given that you have the right skill set, employers would have no qualms about paying big bucks for your data mining services.
Two most prominent areas where you can capitalize on your data mining and artificial intelligence services are:
1. Data is collected and then mined to make it clutter-free. Once extracted and segmented, the data is then analyzed to find trends.
2. Data Mining and Artificial Intelligence are also used to identify bottlenecks or deadlocks in the internal processes of product development.
Your data mining skills are at the center of more productivity and sales.
Once you open your data mining and artificial intelligence firm, you can bring a lot to the table. Focus on injecting new energy into the lackluster sales and marketing processes that many companies are implementing to this day.
Here’s what Martin Lindstrom, author of the book ‘Small Data,’ says,
“Small data is the foundation for breakthrough ideas or completely new ways to turnaround brands.”
Also, have a look at the instances when data led to great business ideas, including millennials’ favorite Snapchat.
1. Data Mining Consultancy Services
I believe that many professionals have a habit of latching onto specific things while overlooking some of the most important ones.
For instance, some of them immediately start with selling and capitalizing on the data.
I’d say, “start simple.
Over the last two years alone, 90 percent of the world’s data entered the market.
However, despite this abundance, only 19% of companies are mining high-quality data.
You can inspire and educate people on the importance of data mining and help company executives in better tactical decision making.
2. Help companies in marketing and advertising
One cannot market your product without identifying their target audience. And similarly, one cannot identify the target audience correctly without data mining.
Here you can provide your services in two ways: either sell them mined data directly or optimize the existing data that the companies have.
Analyze customer behavior to see market trends and help people garner better ROI by providing smart insights.
3. Utilize Data Mining & AI in Merchandise Planning
By offering merchandise planning, you can help not only e-commerce stores but also the brick and mortar stores.
Say, for instance, a brand is looking to open another store, they would need your help to evaluate the amount of merchandise they might require. It would be your job to predict market trends using data forecasting and then plan an exact layout.
You can help out businesses in four areas with your data merchandising services:
- Keeping inventory up-to-date
- Helping out in determining the products that the customers would require
- Balancing the stock
- Appropriate pricing model
The more data companies collect, the more value they can offer to their customers, which eventually leads to more revenue.
And this is where you will come in.
Plenty of businesses are on the lookout for a credible data scientist, and they are ready to pay big bucks for your services.
26. Launch Your Business with Kickstarter
Do you plan to launch the next big product or SaaS company?
What is stopping you?
Funding might be the cause.
If you’re unaware of what Kickstarter is, here is a quick look at what they do (in their own words).
It is a funding platform where creators can garner an audience for a creative project. And then the community on Kickstarter funds these projects to get them started. All in all, the platform is entirely driven by crowdfunding.
However, please note that getting your project approved on Kickstarter is not a sure thing. About 25 percent of projects get rejected on an average each year.
You can go through their guidelines to make sure that your project doesn’t get rejected.
To date, Kickstarter has helped fund over 1000 projects, from documentary films to medium-sized ventures, they fund all sorts of projects.
However, Kickstarter doesn’t offer long term investment. It is just a platform where folks with creative ideas look for initial funding. In return, they provide small incentives in the form of a book or an autograph of a rock star, and so forth.
You also have to set your funding goals on Kickstarter. For instance, you set a goal of collecting $2,000 within a month. If you fail to raise this amount within the set time-frame, then your project will get no donations.
However, don’t consider Kickstarter as a “get rich quick” platform; it will only help you kickstart your business without incurring debt.
What are the best Swagbucks deals?
Here’s a round-up of some of the best deals for awesome services where you can actually make money simply by trying them out.
Hulu: Try the video streaming service for just $5.99 for 1 month and get more cash back than the cost of the trial. Watch The Handmaid’s Tale. If you like it, keep Hulu. Otherwise, there’s no obligation.
Dollar Shave Club: Test out great razors with their starter set for just five bucks. Get a clean shave and nice splash of cash that will more than cover the cost of your trial.
Bluehost: if you’ve been thinking about creating a website, now’s the time! Use Bluehost to host your site. They have hosting deals that start at $2.95/mos. And, if you use Swagbucks to sign-up, you’ll get enough cash back to more than cover the cost of your entire year of hosting.
There are always new trial offers that rotate through Swagbucks. Some are what you might consider “money-makers” like the ones listed above; others are just great deals on products and services that you might want to try. Check the website daily for “free money” offers and other great savings. Even if you don’t make a lot of money, its a fun way to test a new product.
7. Get Paid To Complete Transcription Tasks
If you are great at typing fast and transcribing, this is for you! You’ll be expected to turn audios and videos into text form. You only need a computer connected to the internet and your transcription skills. Tracking of your weekly work is easy and in real-time. You can request payment at any time as long as you have a minimum balance of $20. Payments are fast and secure way through PayPal every Thursday before 9 a.m. EST.
Now that you have this information, the next thing is for you to take action. The work is flexible. The sooner you start, the more chances of you earning money 7 days a week.
Open up your mind, open up your computer or smartphone, and open up to great ways of earning some money. You will get to perform short tasks and projects which have minimal qualifications.
No. 4: Launch a Physical Product and Grow a Tiny Retail Empire
Ecommerce is a red-hot industry, and tools like Shopify, Etsy, Fulfillment By Amazon (FBA), and Instagram’s Shopping feature have made it easier than ever to create and scale a product-based business — even if it’s just you to start. Successful ecommerce businesses are so in-demand, in fact, that there are entire aggregator companies like Thrasio and Perch dedicated to buying out your product-based business (for a lot of money) and adding it to their portfolio.
Physical product-based businesses differ from the previous three categories in that they usually require more upfront investment to develop and test your minimum viable product. You may not make money online in your first few months, and many ecommerce brands invest in their own website, their own online store, and their own sales channel. You’ll want to take this into consideration when weighing business ideas and selecting your online money making approach — especially if the industry you want to enter has production regulations.
Once you’ve dialed in your supply chain and your audience, however, you’ll have an online store that generates passive income while you sleep. Many ecommerce founders begin their entrepreneurial journey by inventing the product they wish they had; if you’re passionate about making a physical product you know people need, this approach might be perfect for you.
Ecommerce Earning Potential
According to a survey from JungleScout of 4,864 Amazon sellers, 44% of respondents reported making between $1,000-$25,000/month in sales. 68% of sellers reported profit margins of over 10%, and 22% of sellers reported profit margins north of 25%.
It’s important to remember that any physical product will have manufacturing and shipping costs that can eat into your bottom line at first. Leverage advertising networks, review websites, and social proof to sell online more efficiently and drive interest in your online store.
Tips to Help You Succeed in Ecommerce
Ecommerce is a different animal than the other approaches mentioned above. Keep these quick tips top-of-mind as you bring your amazing physical product to life.
- Test your product relentlessly. What works? What could be improved? Actively solicit customer feedback on your product so you can figure out what to improve in overall design or production quality. Doing this dirty work early on will help you make money online more efficiently later.
- Invite shoppers to join an email newsletter. A common strategy you may have seen before is to offer website visitors a discount in exchange for their email address. Email is a great way to market to your customers for free; prioritize winning over this audience above all others.
- Leverage repeat sales. According to research from Bain & Company, an increase of just 5% in customer retention can lead to a 25%-95% increase in profits. Whoa! Acquiring customers is expensive, and it’s impossible to guarantee favorable reviews; put a post-purchase retention plan in place to maximize repeat transactions and happy customers. Referrals are easy money.
Takeaway Ecommerce sometimes requires more upfront investment in order to develop your product prototype, but if you know you have a product people want, it can be a terrific way to make money online.
Does The Envelope System Really Work? My Two Cents
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Summary of How to Earn Free Money
Even though it won’t replace a full-time career, if you’re dedicated and consistent, you can start a small income stream from Swagbucks. Here’s a quick summary of the ways to make extra cash.
3. Scan Your Groceries and Get Cashback Fast
The iBotta app is a unique coupon way to make money by scanning your grocery receipts. This free mobile app is available to iOs and Android devices. Click here to join and receive $5 just for signing up! start earning today!
Everything under control
You can choose how you want to earn money – by playing games, completing surveys, watching videos, shopping online and creating accounts.
No. 2: Become A Creator and Get Paid Directly By Followers and Fans
Do you enjoy creating content online? Are you good at it? If the answer to both of those questions is yes, making money online by tapping into the creator economy might be a great option for you.
Creator life is great for professionals who don’t love the idea of selling online, but could pump out YouTube videos or manage a YouTube channel all day long. Over 50 million creators earn money online, and two million of those creators are doing it professionally, according to SignalFire, a venture capital fund that works with early-stage startups.
Think of creators like tiny media companies: They produce and publish educational or entertaining content – sometimes on their own website, and sometimes exclusively on social media accounts – which you can get a taste of for free. They build an audience over time, and then make money online from this audience in one of three ways:
- Subscriptions: They offer access to their best content in exchange for a subscription fee – the same way you do when you subscribe to services like Netflix or Spotify – and use a platform like Patreon to do so. The more paying subscribers you can attract, the more money you will make.
- Sponsorships: Brands or companies pay the creator to be featured, and the creator incorporates the brand’s advertising into their content. “Paid partnership” posts on Instagram are a classic example. Sometimes, the creator will also have an affiliate link for the product being featured.
- Advertisement kickbacks: Creators get a cut of ads or commercials that are shown on their platforms. When you watch a popular YouTuber, and ads play during their videos, that creator is getting a cut of the advertising spend because they’re bringing the eyeballs to the table. This advertising revenue is low at first, but will snowball as your audience grows.
Creators can choose to leverage one or all of these strategies. Keep in mind that creator economy monetization is a slow burn, because building up an audience usually takes time. If you love to create content and could do it all day long, however, you have the passion and drive to develop an income stream from these online efforts.
The Earning Potential in Becoming a Creator
Creatorship differs from being a service provider in that more customers don’t necessarily mean more work. Whether your Patreon has four subscribers or 4,000 subscribers, your output is the same. Leverage is key if you want to make money online or make more money without working harder.
Here is what our experts had to say.
Just start making content and putting it out there! Then, pay attention to what people like and what they’re not that into. This will give you a better idea of what types of content might be more profitable.Sarah Jane Burt
Make sure you have a great phone and just start making content! When I started I had zero followers and zero email subscribers. I just went live on Facebook every single day.Neha Gupta
Becoming a content creator allows you to build a community of people who can buy products from you later. If you’re willing to be in it for the long game, it makes sense.Satya Purna
Tips for Being a Successful Creator
If creator life sounds like your thing – and you want a less direct, sales-y way to earn money online – here are some tips you’ll want to refer back to often.
- Help your audience get to know you. Creators often lead with a personal brand, and this personality is what helps to set them apart. Share both quality information and personal perspectives for a winning one-two punch.
- Study how information gets shared on a platform. The one thing all successful creators have in common is that they know how information gets seen on the internet. Choose a platform, then become masterful at using it. Prioritize this first and you will save money and time in the long run.
- Focus on quality and consistency. Contrary to popular belief, creator life is not a guaranteed recipe for passive income. You can, however, make money online every single month from content you published ages ago. To succeed as a creator, you need to produce and publish valuable new content regularly; if this feels unreachable, this approach to making money online may not work for you in the long run.
Takeaway Entering the creator economy is a great way to make money online, but to do it well you need to commit to creating valuable content consistently.
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