9. Buy and Sell Business
If you don’t feel like spending time managing an e-Commerce retail business, another form of retail is a simple buy and sell. It’s the classic way of making money. Buy products at a low price and sell them to the highest bidder.
Years ago I had a friend who bought a Harley Davidson motorcycle from eBay. I asked him if he was going to ride it as a formal entry to his mid-life crisis.
“No, I’m going to sell it.”
He was able to sell the Harley for nearly twice the amount that he paid for it. But he had to spend for repairs. All told he still made a good amount of money. He continued to buy and sell Harleys since then.
You don’t need to invest in something as expensive as a Harley to make money. If you have an eye for what would be in demand in the market, you can have a lucrative career buying and selling merchandise.
Start out with a few items and promote them through social media or a referral program. It may not yield a good profit at first but keep at it. Soon, you’ll be raking in the big bucks, and all you need to do is plow back some of the money you made to buy more items.
10. English Instructor
You may have noticed more ads for English instructors are popping up on various web pages. This is further proof of the demand for Filipino English instructors. Many of these English tutorial companies do not have enough teachers.
In one of the articles I wrote a few years ago, I mentioned how one of my friends was earning well as an English instructor. At the time he was earning around 35,000 Pesos working full-time for a tutorial company located in Muntinlupa.
Since then, he started his online English tutorial company. It is purely home-based. He hired 5 of his former fellow instructors to work part-time for him.
According to him, with five instructors, his company nets over 100,000 Pesos per month. The instructors are paid competitive rates. Although he still personally conducts classes, his main focus is marketing his services. His clients come from South Korea, Taiwan, and Japan.
If you want to become an English instructor, take the TOEFL exam and invest in a good computer.
11. Affiliate Marketing
If you have a blog, you can include Affiliate Marketing to supplement your earnings. All you need to do is promote products and services through your blog. You get paid whenever a product or service is sold because of your effort.
There are many affiliate marketing programs on the Internet that you can inquire about. These include:
Before you become involved in Affiliate Marketing, learn more about it and conduct research on the best companies to work with. Many scammers in the industry offer get-rich-quick schemes.
It may take awhile. But with persistent effort, you can see your earnings grow from the hundreds to the thousands.
12. Network Marketing
It’s gotten a bad rap over the last few decades, but network marketing continues to pull in more people.
The Internet and social media make it easier to reach out to a larger audience. You need to find a company that provides network marketing opportunities. Most of all, it has to be a reputable company.
We’ve all heard and read of stories where people were scammed of their entire savings and assets by unscrupulous network marketers offering returns that ultimately proved to be too good to be true. You can check with the SEC if the company is registered as a legal business entity.
Popular items for networking marketing include beauty products and supplements.
You can set up a website specifically for the products you are selling. Then, put in more time and effort in your Internet marketing process to get more people to follow your lead.
Keep in mind that in network marketing, you should not focus on selling the product. In network marketing what you are selling is the idea of owning a business. The product is just secondary.
I know of network marketers who rely heavily on social media to generate interest in their business.
Do people earn 700,000 Pesos per month with Network Marketing? While I won’t disparage the work effort of network marketers, generally, it’s best to moderate your expectations on earnings.
If you have a large network of contacts, you can try pushing your concept to them.
Start Making Money Online in the Philippines
There are other legit ways you can make money online. Your decision to select the online business should not just be based on the potential for making money. It should also depend on your experience and expertise, most of all, it should be your passion.
The word “work” is synonymous with effort and hardship. And to the extent that is true. You will have to make sacrifices and compromises to succeed. But passion makes everything easier.
Do not be complacent just because you can work in the remote location of your choosing. Your success will be contingent on how the market perceives the quality of product or service.
Assess your knowledge, expertise, and degree of competence in the proposed online business idea. If you are not confident of your ability at its current level, take some time to get better.
Take up courses, consult with proven experts, apprentice with a professional, do more research or conduct beta testing. Improving your knowledge of the business will help you see things more clearly. This will allow you to plan and strategize your approach with greater confidence.
You should also invest in the infrastructure to support your online business. Buy a new computer, have a website designed, fix up your place of work and make it more conducive for productivity. If your budget can accommodate a second ISP, sign up the service so you can assure continuity of operations.
Finally, be wary of who you deal with on the Internet. Before accepting invitations to connect or Skype meetings, conduct due diligence work on these parties. A simple Google search may yield surprising results. Make sure you are covered by contracts and signed agreements with suppliers and clients.
If you are not satisfied with what your current employer is paying you or if you’re not having much luck in the job market, look into the virtual world for opportunities. When you find them, capitalize and monetize the idea. If you can’t find them, create the opportunities for yourself.
Further Reading Recommendations: