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Ways And How To Create Wealth Online: 5 Key Strategies

Ways and How To Create Wealth Online

If you are on this page, it is because like most people you are seeking ways and how to create wealth online. I am going to share with you awesome ways to make money online. I know that there are lots of get rich quick schemes out there that fail to deliver.

The following 5 Key strategies are proven and will continuously deliver when implemented correctly. 

  1. Building a Website / Blogging
  2. Freelancing
  3. Dropshipping
  4. Affiliate Marketing
  5. Retail Artbitrage

Making Real Money online requires due diligence, value creation and perseverance. That is the base foundation. Hopefully, this post will help guide your steps, towards achieving your goal. Let’s kick of with strategy number #1

1. Building a Website / Blogging

Building a website/blogging is a tried and tested way to make money online. Several bloggers have been able to create Six figure income streams by following this approach. I would make one thing clear. This is a long-term approach that requires patience. Did you just ask me something? Did you ask why this is a good idea and how to get started? 

Let me first tackle the why, then we can discuss the how. To make real money online requires you to serve an audience. You will be doing this through creating valuable content. As you audience grows you get traffic and down the line, you will be able to monetise.

The second question is how to get started? This sometimes is where most people get misguided. It is relatively easy to get started but requires effort to reach your goal. You need the following :

  1. A Domain or Sub – Domain 
  2. A Hosting Platform 
  3. Quality Training & Support Community

A Domain or Sub - Domain

This is essential because it is your own private real estate. You need to create your own brand. My recommendation for domain purchase is GoDaddy

You can kick start with a sub- domain. However, I would advise that you purchase a your own domain down the line and convert. This would help you establish your own brand. 

A Hosting Platform

You need a hosting provider to host your site on the web. I have listed some suggestions below:

  • BlueHost
  • SiteGround
  • Hostgator

Quality Training & Support Community

As an new starter, this is essential. You need to learn your trade. There are things you know and don’t know. Having access to good training and other successful bloggers played a major role in my development. I know what you might be thinking. Where and how do you find an honest, no bullshit platform that truly delivers. It took me a while to filter the noise. My rule of thump is simple. A good training and community platform, should give you access to the the platform for free, to enable you check out and see if it is worth joining.

My #1 Top Recommendation

My recommendation, that meets this requirement is Wealthy Affiliate. This platform provides free online entrepreneur training. You can create 2 free sub – domain wordpress websites via SiteRubix 

 Wealthy Affiliate does not only deliver on all counts, they also  pay you 50%  recurring commission for each referral. I discovered this amazing platform a few months ago. To learn more about Wealthy Affiliate, please read the post below: 

Related post : Introduction To Affiliate Marketing

2. Freelancing

Freelancing is a quick effective approach, to make to make money online. It will not make you super rich but it will help your transitional phase. Especially if you are struggling to generate income. 

Everyone has something they are good at doing. What are your skill-sets, that you can offer at a competitive price? Are you a good writer? do you understand search engine optimization (SEO), can you create websites? are you good at plumbing, building, designing etc. There is always someone out there, willing to pay for your services.

You need to make your services visible to the online world. There are several platforms that enables you achieve online visibility. I have listed some cool suggestions below:

  1. Fiverr
  2. PeoplePerHour
  3. UpWork 

These platforms are free to join. All you need to do is  create your profile detailing the services that you are willing to offer and set your price. 

3. Dropshipping

Dropshipping is a good business model used by online entrepreneurs. This approach requires you to build an online shop without having to handle any inventory yourself!

Let’s discuss how to get started. First, you need to find products to sell and suppliers who are open to dropshipping (This could be sourced from Alibaba or Aliexpress).

After you find your suppliers, you then set up an online storefront for the products on Shopify or other similar platforms. This is a very profitable business model and the concept is simple. When orders come in from buyers, you facilitate with the suppliers to send the products directly to the customer.

You have low cost overheads and able to operate from anywhere in the world. Your efforts are mainly focused on marketing campaigns. To create product awareness and get traffic to your online store.  Like any other worthwhile venture, it takes time to establish in the beginning. However, this model could lead to great rewards. If your service delivery is great and efficient. Creating high quality customer experience is essential for repeat business. 

If you are truly capable of managing and facilitating the process. This model presents a win win scenario. Most businesses abroad are open to partnering with a legitimate professional. 

Affiliate Marketing Flowchart

4. Affiliate Marketing

Affiliate marketing simply means promoting other peoples products to earn a commission. The process diagram above is explained in my second related article below (Beginners Guide To Niche Affiliate Marketing). 

Most modern business favor this marketing business model. For example Amazon, Ebay etc offer affiliate programs. All you need to do is sign up, promote and earn. I have written comprehensively on this Business Model. Please refer to my earlier posts below for an in depth breakdown. 

Related Articles

I understand that time is precious commodity. Therefore, I will briefly touch on the relevant parts to the our topic of discussion. Whilst Amazon and Ebay are brilliant affiliate programs. In my opinion, they do not offer the best rewards for your time and effort. Why do I say so? Both of these platforms offer their affiliates around 4- 8 percent (%) commission for each sale. I do not wish to discourage anyone pursing these programs. In-fact, I do have websites used to promote Amazon products. However, there are opportunity costs to consider. 

What Is Opportunity Cost?

In Economics the term opportunity cost simply refers to the “alternatives forgone”. Do not worry, I will explain in detail. For instance, It would take you the same time and effort to promote product (X) that pays 10% commission, and product (Y) that pays 50%. You are also probably going to expend the same amount of resources in the process.

The opportunity cost of promoting product (X) is the 50% commission that you could have earned by promoting product (Y). This becomes the “alternative forgone” in the transaction.

There are affiliate programs that offer between 30 % – 70% recurring commissions for each paying referral. You can find these products on platforms such as Clickbank and ShareAsale

Coin eyes

Cool Affiliate Products

If you are struggling for product suggestions. I have compiled  few cool affiliate products for your consideration. These products are relevant for all market niches. I have used all these products and can assure you that they are legitimate offers that will bring value to your business. I can not guarantee that you will be accepted by all. Some have stringent requirements for acceptance. However, all offer quality value for your time and efforts.

  1. Wealthy Affiliate
  2. Jaaxy Keyword Tool
  3. Clickfunnels
  4. SFI
  5. Stencil
  6. Crowdfireapp
  7. Aweber
  8. ConvertKit

5. Retail Arbitrage

Retail Arbitrage is another fairly simple concept. This requires you to source valuable products mostly from different geographical markets, at a relatively low price. Some of these products would require some sort of uplift (ie repackaging). You will have to facilitate the required product uplift. Arrange for shipment and introduce into intended market at a higher price. 

Most entrepreneurs source products from Asian markets (ie China). Taking advantage of the low cost of production in such markets. Repackage and introduce into European markets. The current market trend involves sourcing for products, repackaging and facilitating sale and distribution through the Fulfilled by Amazon (FBA) business model.   

FBA is a fast growing  awesome business model. All you have to do is source the product. After product uplift, arrange for the products to be sent to the required Amazon warehouse. They will facilitate shipping and customer deliveries for you. This business venture could yield you huge profits, if you source a good product.

Conclusion

These approaches and strategies are used everyday by entrepreneurs to make Real Money online. These strategies are effective but require time, effort and due diligence from you. Great results don’t just happen, they happen because we make them happen!

Thank you for reading, much appreciated. If you ever need a hand or have any questions. Please feel free to leave them below. I will be happy to help you.

About The Author

Anthony is a UK certified business strategist and consultant. An entrepreneurship mentor and ezine published writer.  He embraced entrepreneurship after experiencing an existential awakening. Anthony helps entrepreneurs, aspiring entrepreneurs and small business owners achieve success. You are invited to check out his services page and connect with him via the following social platforms:

Facebook   Linkedin    Instagram  Twitter  Webtalk

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This Post Has 10 Comments

  1. Hello and thank you for this amazing article. I had a great time reading it. Your pointers on how to create money online are on spot. Today, it is almost impossible to succeed online, without a website. Good news that at least today, it is easy to create a website. This takes no longer then 1 minute.

    I think affiliate marketing is my personal preference. I can not say for all, but is one of the most lucrative way of building income online. Wealthy Affiliate truly offers great deal and I advise anyone to give them a try. They will not regret it.

    Thank you for this article.

    Strahinja

    1. Hi Strahinja –  Your kind words are appreciated. Having a good structured website is essential because it serves as a vehicle for communication and gives credibility. When people say having a website is not necessary, I simply ask them to reference a credible business that does not have one. 

      A journey of a thousand miles begins with a step in the right direction. Wealthy Affiliate is surely a step in the right direction. 

      Thank you for stopping by and sharing your thoughts. Best wishes 

  2. I like your post this what people out there searching for making online need to discover, you make us know the truth and how to make money online.

    Did you suggest Wealthy Affiliate is the best program anyone or person with no computer skill can join and become a successful in making money online?

    1. Hello Olamyde – Yes, I do recommend Wealthy Affiliate for anyone looking to establish a business online. Besides the structured step by step video training, having a community of like minds is essential on this journey. 

      One of the issues people face is the quest for instant gratification. Everyone wants to be a millionaire tomorrow without doing any work. Unfortunately, that is simply not realistic. To be successful it is essential to be around people that have achieved success long-term. Wealthy Affiliate community support platform is totally awesome. 

      Thank you for stopping by and contributing, much appreciated. Best wishes

  3. Hi Anthony

    Those are five solid ways to create wealth online. They all work but any business takes time to build. 

    I think the main reason why so many people are not successful online is because they’re impatient and give up too soon. Flitting from one thing to another without giving anything a decent chance. just wastes time and money. I speak from experience. 

    I think the best thing you can do is choose something that is going to suit you best and give it your all until you make it. What do you think?

    Mark 

    1. Hello Mark – I agree with you 100%. Rome was not built in a day. These strategies are effective when applied correctly and given time to soar. 

      Lack of focus and quest for instant gratification sets people in a wasteful merry go around. A rolling stone gathers no moss. As you said, the key is finding and focusing totally on something that suits one’s strength and drives passion. 

      Thank you for stopping by and sharing your experience, much appreciated.    

  4. Thanks for these awesome suggestions on how to make money online. I have heard of these methods before, but have only used a combination of 3 of them within this post you just mentioned.

    I think whatever method you choose though you need to have the right mindset, because making money online is definitely not as easy as some people make it out to be.

    Out of all these methods you mentioned, which one is your favorite? Also which one have you made the most money with?

    1. Hello Michael –  You are welcome. Having the right mentality is an essential requirement for entrepreneurial success. Entrepreneurs see failure as a learning curve, not a stumbling block. For every success achieved, I endured several failures to get there. 

      My favourite is affiliate marketing. I have had great results with Drop-shipping & Retail arbitrage short-term. However, I generate the most money long-term through affiliate marketing. This is because besides marketing products online. I combine affiliate marketing with networking which allows me to build teams using platforms like Wealthy Affiliate and Strong Financial International (SFI)

      Thanks for stopping by and contributing, much appreciated. Best wishes 

  5. This is powerful information, and you are offering it at a great time.  With automation and developing world production sucking up most traditional jobs for middle class workers, online is where most of us will go for opportunities.  While I’ve either worked at or considered all of your 5 models, I’ve not really heard the term “Retail Arbitrage” before, even though I’ve known people who do it on Amazon and Ebay.  While I continue to pursue some other avenues, Retail Arbitrage has extra appeal since I have warehouse and factory space with shipping dock access. Can you suggest sites where I can get more in-depth information on selecting high margin products for retail arbitrage and marketing them effectively?

    1. Hi Steve – Glad you found my content valuable. Retail Arbitrage using FBA is a good model. However, it requires deep sourcing to discover these products. Extensive market research and planning is essential. You have to do your research. Thinking both long and short term will help you adopt an effective market strategy. 

      Thanks for stopping by and contributing, much appreciated. Best wishes 

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