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Saturday, March 07, 2015

How To Make Money Online In Singapore

Ever wondered if there are any REAL get-rich-quick schemes ? How about those websites that claim they can help you earn thousands of dollars a month - simply by subscribing to their content ? Sorry to burst your bubble, but nothing in this world is free. The good news is, with the advent of the internet, there are lots of opportunities (legitimate) to make money online. All you need is a little inspiration and lots of passion, so please read on.
Make Money
Image Credit: Shutterstock

Sell Used Stuff Online



Perhaps one of the easiest way to make money online is to sell the stuff we no longer need. Let's face it, we all find it difficult to throw away gifts or something we have spent our hard earned money on. Yet, selling those stuff not only frees up space in our house, it can also bring back some of the money we had spent - money that can be used to buy things we really need or even to save for the future.


As the saying goes, one man's thrash is another man's treasure. Lets look at a couple of online platforms we can sell our stuff on.

Carousell

- Excellent application interface, available online as well as on the iOS and Android platforms. Many young and trendy users often buy and sell second hand items here.  

eBay

- Easy interface, with excellent buyer/seller protection (for fraud prevention). Great for selling stuff that are targeted at an international audience.

Gumtree

- Simple interface similar to a classified ads, to sell your stuff.


Blog, Vlog or Make Videos



Well, technically, the product you will want to sell is yourself. Your knowledge in a certain domain (example: fashion tips, technology gadget reviews or even gossip news). 

How does this work ?

Setup an account on Blogger (easiest and free) or Youtube. Decide on a niche topic to blog or vlog about. Create quality content in your blog posts and videos, register for a Google Adsense or monetize your videos and watch your income stream grow. Sounds too easy to be true ?. Obviously, before you can generate any income, you will need to find ways to attract traffic to your blog or Youtube channel. Since SEO (Search Engine Optimization) and Marketing is a whole separate topic by itself, we will discuss this in another article.

Google Adsense 


- Google Adsense is a program offered by Google for webmasters to embed advertisements on their websites, blogs and forums. The program serves up contextually related advertisements to the visitors of the website. Webmasters will make money, depending on the numbers of clicks on the ads that were served - this is know as the Click-Through-Rate (CTR). Once the $100 threshold is reached, Google will send a cheque with your name. You can read more about it here.

Youtube Monetisation


- Similar to the Adsense program, Youtube allows monetisation of videos that are original in content (Restrictions apply). Advertisements will be served to the viewers of your video and this in turn will generate money for you (as the publisher of the content). As you can already figure out, to earn money from Youtube videos, all you need is a consistent stream of viewers. There is no need for users to actively click on a 'advertisement' in order for you to generate income, unlike via blogs or websites.


There was a recent article in the news that reported a local successful Youtuber who earned a low six figure annual sum from producing Youtube videos. Perhaps he may be a good source of inspiration for your next video !

Start A Blogshop



Whilst there are already a plethora of blogshops selling woman's clothing, the hunger and cravings for new offerings still exists from the fashion conscious generations of youngsters. If you have a great concept of fashion and design, why not start an online blogshop?. Many of the successful local blogshops started off small and have grown into successful businesses in the last 5 years. 


A blogshop has relatively lower overheads as compared to a regular brick-and-mortar shop. For starters, you will need a well designed website, a web domain and an ACRA registered business name. Needless to say, you will need an attractive product range and an audience. whilst the online blogshop scene faces intense competition, it is a very profitable business if done right. 

Take a reference from some of these successful and upcoming blog shops:

Love Bonito

- One of the most established and popular blogshop in Singapore. They have even ventured into shoes and accessories. 

Skirts and Frills
A relatively new blogshop offering some of the most lovely and chic clothing. 


Offer your Service(s)


Perhaps you have a great product, service or skill but don't have the resource or time to start a full fledged business. You can still make money by offering your part time or freelancing services via the following platforms:


Fiverr

- Offer your services such as Graphic design, Marketing, Programming, etc. 

Etsy
- Sell your home-made Handicraft, Design and Art pieces here.


Odesk

- Similar to Fiverr, Odesk creates business connections between businesses and freelancers. Register yourself as a freelancer, get hired and paid for your work.


Do not be discouraged if you do not make much progress during the early stages of your journey to make money online. Remember that Rome was not built in a day. Most, if not all, of the successful blogshops, website owners, youtubers have all started small. Good luck and I hope you found this article helpful or interesting.