Most Recommended Way To Earn A Month $10,000

Ever since the introduction of the internet and the possibilities it offered a lot of businesses saw the potential of increasing their exposure and made themselves available online which is when the digital economy started. With technology constantly evolving and internet speeds reaching the phase they are in now it became clear that the digital economy would topple the traditional economy by a lot and become much better for profit. Recently the digital economy is one of the key drivers of the economic growth in the US and it's grown for about 7.2% annually for the past decade which is a rate about 4 times faster than the GDP. The development of technology has also made way for many businesses to easily improve their efficiency in many fields while having lower costs.

The digital economy has a few advantages over the traditional one and those are:

1. Effective resource allocation - in the digital world there is an option to get an algorithm that has information on what people search on Google, what they want and how they want it and it's much cheaper than paying people who may or may not be able to help you sell your product.

2. Location - it doesn't matter where you are as long as you have an internet connection and an online presence. You can be sitting at home in your pajamas and be able to make millions selling services or other products if your online store is well marketed.

3. Faster growth of small businesses - when you get your business online it would about $20-$30 to reach an audience between 3000-4000 people which means it would only cost so little to make your new business known to so many people out there that might be interested in your product or service.

Affiliate Marketing

eCommerce Business

eCommerce is a very fast-growing business that people can utilize to take advantage of the rise of the digital economy and make money online. This method also involves working from home and eventually it can be turned into a passive income stream that will only need maintenance rather than constantly working and a huge effort.

The model for eCommerce businesses starts picking a niche and persona. Once you've done that you'll need a website on which you can create your online store and pick a product that you believe will sell well and have the highest profit margin. It has to be within the niche you picked and match the persona you decided to represent. It's best to start with just one product rather than many because it can get messy if the orders start coming in and you can't cover the costs right away. There might be problems with shipping and returns which is hard for newly made websites. Once you've established a good profit margin for one product you can expand and find out what else is selling like crazy so you can put it up on your page for your visitors to buy.

It's a pretty straightforward model but the eCommerce market today is highly competitive and it's not easy to compete with websites that are already well established and trusted by consumers. However, it's still one of the simplest and most effective ways to make real income online using the growth of the digital economy.

Coaching and Consulting

Take Advantage Of The Many Apps Available

Apps that are available on your smart devices aren't just for fun and games. Many apps have the potential to make you a lot of money if you are devoted to becoming a part of the digital economy and make money online. There are few apps available that you can use to find a coaching or a consulting job and one of those is the Task Rabbit.

Task Rabbit

A very simple app to use that can make you some extra money. Clients post tasks on the app and you can apply for anything posted there. The various tasks can be simple and easy which would pay less and might go up to extremely complicated and require expertise in a field but they would also be paid more. To find a consulting or a coaching job you just need to search their database of jobs posted and see if there's anything available at the moment. You can also try other similar apps and not just stick to this one.

Utilize Money Making Websites

One of the better ways to join the digital economy and make money online is to use the websites available to everyone for making active and passive income. Some of the sites that are set up can be used to sell digital goods like designs for apparel but can also be utilized for consulting and coaching services. The websites we're putting in this category are the ones that focus their attention on long term working relationships with freelancers in various niche areas including photography, design, content creation, online marketing, coaching, and consulting. A few of the sites available on the web are the following.

Fiverr

-Another similar website to Upwork but on this one you're posting what you can do for a certain amount while the minimum amount is $5. So if you're looking for coaching clients you can post a gig that will let people know you're available for coaching sessions for an x amount of money and people who are looking for something like that will be able to see your gig and hire you to be their coach. Here's a link where you can sign up for Fiverr.

Conclusion

The digital economy is a very fast-growing economy compared to the traditional one and we should all take advantage of the opportunity it offers.

The 3 simple and effective ways that we present above are the ones that work best for building your passive income and while affiliate marketing is listed first and it's the best choice, eCommerce and offering to consult and coaching services are close seconds. Picking any of the three ways, or even a combination of them all is something that everyone who has a little knowledge and is ambitious should do. It's never been easier to go online and start your own small business while sitting comfortably on your couch and work from home.

Most Recommended Way To Earn A Month $10,000

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