Things can change pretty quickly in life. Job security and financial stability are only there until tomorrow something like a pandemic hits the economy negatively, and your boss asks you to leave.
Many people got a taste of it in 2020 with mass job losses and a slowdown in the economy. Those who rely on their job as the only source of income, roughly 70% of Americans, are bound to struggle today or tomorrow.
The only solution is to have multiple revenue streams so that if one of them is gone, your survival is not in danger.
Having multiple revenue streams doesn’t mean working multiple jobs or starting a new business altogether. Your additional revenue stream need not out-earn your job. All it has to do is ensure you have enough for your survival.
Making money online is easier than ever now that a lot of people and businesses are working online. You can literally make money online from your home sitting on your couch, doing what you like.
It is not only great for people looking for an additional revenue stream but for moms who wanna work from home, people with disabilities who can’t do physical work, and teens who wanna make some money along with their studies.
Today, Natalie Hodson, someone who has mastered the art of making money online, will help you learn how to make money online from home.
Why Online Business?
Like the majority of American students, Natalie also graduated drowning in student loans and did every side job she could to get out of it.
But things got even worse after a few years when she went through a divorce and had only three months of expenses left in her bank account with no income. That’s when she discovered the power of internet business.
She partnered up with a doctor and wrote an e-book called Abs, Core & Pelvic Floor, which was essentially a guide to help women post-pregnancy.
Within four months of launch on Natalie’s blog that she was writing for years, the $37 e-book crossed $1 million in sales figure. The numbers might sound unreal, but it’s important to realize what is possible.
There are countless opportunities in the online world, and the majority of them are well within your reach. So if you’re trying to build an additional stream of income, then online business is your best bet.
An online business has several merits like very little start-up costs, little to no overheads, workhour and workload flexibility, and easy management, making it perfect for almost anyone.
How to Find the Right Business For You?
The internet landscape is truly unlimited, and the opportunities in the realm of online business are unlimited too.
There are hundreds of businesses you can start including but not limited to drop shopping, blogging, affiliate marketing, YouTuber, etc.
But the one model that Natalie likes the most is creating a digital product or course. It is the easiest way to make use of the skills and knowledge you currently have and turn it into money while also helping people.
Every single one of us has something that we’re either exceptionally good at or extremely passionate about.
The problem with humans is if we’re really good at something, it is normal for us. We don’t realize that it is something special until someone makes us realize it.
Thus, start by thinking what are the things that people naturally ask you questions about. It can be anything from the smallest, most intuitive things to the hardest, most technical things.
For example, one of Natalie’s students was really good at organizing pantries. She ended up creating her product in that niche.
How to Make Money Online From Home
To make money online from home, you need to figure out three things: Where you can help, whom you can help, and how you can help. Let’s discuss each one of them in detail.
1. Where You Can Help
Obviously, the first and foremost thing is deciding what you want to sell. Not the product, but what skill or knowledge.
As stated, start by asking yourself what are the things that people around you often demand your opinion or suggestion on.
While you’re at it, do not think that some things are marketable while others are not. You’ll find people interested in almost any niche.
For example, one of Natalie’s students had a hobby of building backyard chicken coops, so they converted that hobby into an e-book, and now that e-book does six figures in sales per month.
Another one of her students found a niche in the form of PA (physician’s assistant) exam aspirants. She started with putting tips, tricks, and question-answers of the PA exam in Instagram posts and built a following of 20000 students. Later monetized it with paid exam guides.
Another student who was a CNA (Certified Nursing Assistant) created a course where she helps elderly patients prevent falls.
So you just have to find the thing that you have enough expertise and passion in that people would be ready to pay you for it.
Next, once you understand your expertise, create a list of pain points that your ideal consumer might have around that topic.
For example, if your expertise is investing, what are the areas of investing that people generally struggle with: Picking up the right asset? Portfolio allocation? Risk management? Figure it out.
2. How You Can Help
Once you know that this is your expertise and this is the area where many people struggle, you can figure out how you can help.
If your expertise is investing and you figured that a lot of people struggle in picking up the right asset, how you or your product can help them avoid their mistakes and get better at asset selection?
It can be a video course, an e-book, a digital product like an asset screener, or even a personal consultation with you.
What you need to make sure while developing your product is we want maximum results with minimum effort. So only go with personal consultation if you have the time & resources to spend hours on phone with your clients.
For most people, a course or an e-book would be more than enough. If you wanna charge more from fewer people, create a course. If you want to charge less to more people, go for an e-book or digital product.
3. Market and Get Customers
Once you have a product, all that is left to do is making sales. And to make sales, you need to get the marketing right.
Here, Natalie would recommend coming up with what is called an arsenal of stories, meaning taking all the stories, things that you’ve gone through in your own life, that you can relate to your product, customer’s pain points, or the problem you’re solving, and note them down.
When you can connect a story with your product and market it that way, it instantly connects with your audience and their pain points.
If people get to listen to what they can easily connect with, then they make buying decisions based on emotions rather than logic, increasing their chances of purchasing from you.
So, in summary, understand your audience, figure out their pain points, create a product that helps them, and market it with the help of stories to make money.