The digital economy has affected the 9-to-5 work culture by opening up many opportunities for people who cannot afford such a job. Some people also do it by choice, while others freelance in addition to their 9-to-5 jobs. Advancements in technology, coupled with economic recessions, have resulted in layovers in the past months, specifically in the tech industry that was booming during the pandemic. However, the high unemployment rates often don’t factor in the gig economy, where it’s possible to decode how to make $500 a day.
How to Make $500 a Day
Self-employed people have their own timelines and payment cycles. They do not fall under the standard employed category. However, that does not exclude them from their contribution to the GDP. Some gig workers have cracked how to survive in this economy and are thriving in it. It has become increasingly simple to be an independent contractor with ultimate flexibility and still earn $500 a day. There are many strategies to target $500 a day. Here is a list of a few of those.
Freelance Writing
Freelance writing is one of the digital economy’s most widely available gig options. With a more significant digital presence, the need for digital content has skyrocketed. The content varies based on the channel of communication. You can be associated with an ad agency, write or create collaterals, and copyright for social media posts. You can also get into long-form content writing if you have a flair for simplified explanations or can create engaging stories.
Emailers, website content, and documentation are all specific areas of work that freelancers can see coming their way. Long-form content is usually paid per word, but short-form content is usually project-based. Long-form writers can also consider scriptwriting for short videos in the same format but with more significant earning potential.
Blogging
The whole idea behind blogging is to add value to your audience’s time spent reading your blog. If you develop a relationship with your audience, you can successfully popularize your blog through effective ad spending and backlinks.
Affiliate Marketing
This one is the best kind of B2B marketing techniques. Affiliates are businesses that promote other businesses for compensation in cash or kind. The affiliates could be any level of business.
Influencers are one-person brands that have a consistent appearance in the digital and physical worlds. They must have a loyal fan following and be able to influence them with their opinions. Any such person can easily make over $500 a day with affiliate marketing projects. All they need to do is leverage their popularity.
Rental Properties
Earning on your real-estate investments through rental properties is one of the simplest and most convenient ways of making money. You don’t have to be tech-savvy or experience in the rental or hospitality industry. You can just let it out to a broker, and they’ll manage it for you for a pre-agreed cut on revenues.
There is no such thing as less money when you don’t have to work to earn it. However, people who are interested in maximizing their rental income can put in some extra work to prep the property for custom needs or charge a premium by listing an exotic estate on Airbnb.
Read Related Article: How to make $1,000 a day.
Amazon FBA
The Fulfilled By Amazon opportunity offered by Amazon’s e-commerce business has helped many people kickstart their entrepreneurial journeys. In contrast, many could make peace with just FBA for their limited needs.
Depending on personal goals and location, FBA can be a lucrative business opportunity. Amazon’s policy guidelines clearly state the requirements for running an FBA. Their business onboarding support also helps smoothen the process through continuous guidance. The devices and software required for the FBA facility can also be purchased from Amazon, or the specifications can be met through personal purchases. Given Amazon’s business scale, the FBA can help you achieve the $500-a-day target in a flash.
Flip Stuff
The secondary market for non-essential goods is exciting if one targets the right products. The products best suited for flipping are not the ones that are so cheap that they can be easily replaced, nor are they costly brands that cannot carve their market. The ideal flip product would be high in demand and curated from thrift stores and other cheap sources that are not easily accessible to target customers. This will help make a profit out of flipping stuff easier.
The market dynamics of demand and supply can help identify such products through research. The more you want to make money from flipping stuff, the more you can explore different products with better margins.
Become an Influencer
Many influencers run a subscriber-based fee model if they have a community where they share skills or detailed information about the content they create. Others can launch their products to earn revenue.
An influencer can also be paid through patrons. Most popular YouTube channels are run by influencers who went on to create an empire from their fortunes selling ads.
Monetize a High-Traffic Website
A high-traffic website on the internet is like a shop on the main street of a state capital. The footfall in itself can lead to multiple sales. Building a consistent traffic flow on your website is the initial stage of building a site. Once you have achieved this, you must consider various ways of utilizing it for your benefit.
You can display ads and sponsored content aesthetically on your web pages. You can also use affiliate marketing to promote other good businesses that reflect your business.
Print on Demand
This business has existed for over a decade but is still relevant. With new trends popping up every hour of every day, fashion and lifestyle products and services will entice audiences. The best way to encash the trend without investing a fortune beforehand is by setting up a print-on-demand shop online.
You can list some captivating designs on Shopify and promote them in your target locations or to your target market to start fulfilling orders. The margins are typically low, but this is a game of order quantity.
Selling Digital Products
Digital products are products birthed by the internet that don’t exist physically. These products can easily be created by freelancers working in education, blogging, designing, music, or any other industry. If the product is valuable, you can market it through websites, posts, or emails and get your subscribers to pay for it.
YouTube
YouTube is the world’s most traffic-grossing video app, even 18 years after its launch. It holds most music and entertainment videos accessible online and has some results for every query. Having a presence and building a following on YouTube can be highly rewarding if one uses the platform in its best capacity. Getting creative can be handy because most videos can also make you invisible. People who watch YouTube videos are always looking for engaging content.
On a side note, if you have trouble managing your money every month or sticking to your budget, you should try Beem’s Budget Planner-The Better Financial Feed™. Beem’s BFF helps you spend, save, plan, and protect your money like an expert with on-point financial insights and recommendations.
Become a Respondent
Various research studies and surveys often need public opinion for social schemes, projects, and targeted schemes. Reaching out to all people on social media won’t make sense. It is better to have platforms where people can reach out to participate in studies and get paid.
People can make good money by being respondents as these are almost free giveaways for those not apprehensive about sharing their details with big corporations and the government. You also stay updated with latest research trends.
Read Related Article: How to make $200 a day
Copywriting
This is a lucrative job for digital media creators as it pays you for the work you do throughout the day. The more creative you are, the better your chances of excelling. The one thumb rule about copywriting is that less is more. If you can convey the reason for writing in the least number of words, you can go viral. You can use all the trending hashtags to reach your goal, but the post must be good enough to go viral.
Launch an Online Business
Once you have identified what product or service you wish to sell, you can easily set up an online business. Many templates are available for preparing DPRs and other relevant documents required to assess and materialize a business plan. You can start small with a minimum investment and then ramp it up before considering funding.
Sell on Etsy
Etsy is an e-commerce site for artisans who do not find it feasible to build their own digital stores. It allows all these people to benefit from a marketplace. Running an online store on Etsy includes full support and display spaces as per the needs of your products.
Read Related Article: How to make $50 a day.
Conclusion
While earning money online is easier and faster, you will still need to build competencies and have the patience for paying customers to come to you. Building a solid online presence is key to earning $500 a day online. While organic marketing is the most sustainable and desirable long-term marketing strategy, deploying a mix of paid strategies will also help you as you set up your business. However, paid marketing only works when your service is strong enough to convert prospects. You only get repeat visitors if you give them value for their time, whether or not they’re paying customers yet.
Another avenue you can explore to get some cash is the all-in-one financial app Beem, which rewards you for good financial behavior. Unlock extra cash by making on-time payments, avoiding overdrafts, payment failures, and more, only with Beem’s expert financial guidance.
