Thu. Oct 17th, 2019

Five easy ways for South Africans to make money online in 2019

make moneyWe are living in exciting times, with new ways to make money outside of the traditional workplace opening up all the time.

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Between our rapidly evolving globalised world and the advancement of technology, we are becoming more connected and it is easier than ever to tap into international markets.

The digital economy is changing the way we work and there are now so many different ways to make money online. So if you are looking to ditch your 9-5 or find a side-hustle and make extra cash, read on. We have put together a list of innovative ways to make money online that will help you on the road to financial freedom.

Dropshipping

The E-commerce industry is booming and projected to be valued at over $500 billion dollars in 2019. So why not jump on the bandwagon and open your very own online store?

One of the best business models for beginners is Dropshipping, as it requires low up-front investment and holds minimal risk. It works by purchasing your stock from a third-party supplier or manufacturer, who then fulfils the order for you. You will never have to buy stock in advance or handle it yourself because when a customer places an order, you purchase the product directly from the supplier.

All you will need to do is find a supplier, build a Shopify store, and make sure the products are ordered after your customer makes a purchase. It has proven to be a really popular model, as you don’t need much money to get started, and if you get it right, you can build a very lucrative store.

What could be more satisfying than hearing your phone buzz as a sale comes in or waking up and realising you have made money while you sleep? There are plenty of great courses out there that will tell you exactly what you need to do to get started and build a successful online store.

T-shirt design

Everyone around the world wears them, which is why selling T-shirts online is a great way for novice entrepreneurs to make extra cash. And there are lots of ways to do it.

One way is to start your own brand by opening a Shopify account and designing your T-shirts through Photoshop or Canva. Once the designs are ready, you just need to connect your store to a platform like Printful, who will handle all the printing, shipping and customer service for you. The best part is they are Print on Demand (POD), so you are only charged for the shirt when a customer has actually ordered and there is no upfront cost.

If you are looking for an even easier option, Amazon has launched a programme called Amazon Merch, which allows sellers to upload their designs onto the Amazon platform and you earn a royalty on each shirt sold.

The best part is that Amazon deals with everything else, so all you need to do is upload your designs and take home your profits. You can research trending designs through a platform called Merch Informer or just by looking at the best seller rating (BSR) on Amazon. If you don’t have an eye for design, outsource the work to a designer on Fiverr, Upwork or People Per Hour. They will usually charge you from about $5 per design, which will save you time and help you scale your business faster.

Affiliate marketing

There are plenty of different variations of affiliate marketing and they can be a great way to generate a passive income online.

This type of marketing works by promoting a company’s products to a particular target audience and earning a commission for each sale you make. A popular approach is to start a blog in a particular niche and build a trusted audience that is likely to buy the products you promote.

Once your site is up, have a look for affiliate programmes with high commission rates and sign up to them. They will give you a link to embed in your site and track your sales.

It’s helpful to have some marketing skills so you can SEO optimise your site and drive traffic to it, but there are lots of useful resources out there if you are a newbie. You can also incorporate Vlogging or try it as an alternative approach. Videos are a really effective way to build trust and a strong relationship with your audience.

Influencer marketing

Have you ever wondered how all those Instagram models make money? Well, mostly it’s through collaborations with brands and promoting products to their audience. Anyone can become an influencer as long as they have a following, with seemingly obscure individuals to well-known celebrities alike generating large incomes from their efforts.

Brands are always looking for micro and macro-influencers to promote their campaigns, so if you love documenting your daily activities on social media, this may be for you. You might want to consider signing up to an influencer agency who will help you find potential clients.

If you don’t want to be the face behind your Instagram feed, pick a niche you are interested in and grow the page with related posts. When you have a large enough following and good engagement, companies will pay you for page posts, stories and shoutouts.

Amazon seller

Amazon is the largest e-commerce platform in the world and therefore has a huge earning potential for sellers. South Africa is now one of the countries eligible to register for selling on Amazon – you will just need proof of address, a local phone number and an internationally chargeable credit card to set-up your account.

Start off by researching what type of products are selling well on the platform by looking at the Best Seller Rating (BSR) on individual products. The lower the BSR, the more in demand the product. You can also use platforms such as Jungle Scout to streamline your research process and find winning products. The next step is to find wholesalers that stock these products at good prices and purchase the unit numbers you require.

The downfall here is you will have to buy stock in advance and this upfront cost can be both risky and expensive. You will also need to either ship the products directly to customers yourself or use Fulfillment by Amazon (FBA), which means your products are stored in Amazon’s warehouse and they will deal with shipping and returns for you.

But if you don’t mind putting down some upfront investment, this is an amazing opportunity to sell products in the world’s biggest marketplace and make some serious profit.  

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