What are the best businesses for making $50k per month?
You can start an online business which has the potential to grow into 50k per month. The key is to sell products instead of trading your time for money. Therefore, the best businesses are selling products through e-commerce, affiliate marketing, or your own products.
Imagine, making $50,000 per year from the comfort of your own home. You have way surpassed the income you were making at your job.
Most people think this is impossible.
Funny enough, people are doing this every single day. You just need to know where to start.
Luckily for you, I’m going to show you what businesses can make $50,000 per month. you just need to pick one and put in the work. With enough consistency, you too can be making a year’s income in one month.
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How to make $50k per month online
The following business models have proven to make $50,000 per month or more. These businesses can usually be done online and from the comfort of your home. Choose one business model, stay consistent, and focus on making progress.Click to Tweet! Please Share!Click To Tweet
Blogging is one of the best businesses to make recurring income overtime. Because blogging takes advantage of compounding effort, the work you did five years ago can still pay you today. However, blogging is not an overnight success and takes time to build up to a sufficient income.
A blogger is paid via affiliate marketing, display ads, sponsored post, and selling products. You write helpful articles to solve people’s problems while recommending products. Some businesses will give you money for sending them business.
For example, you write an article on how to help someone with lower back pain. That article can rank on Google through search engine optimization or SEO. In the article, you have display ads and product recommendations to help with back pain.
The display ads will pay you fairly passively. However, you might earn a 20% Commission recommending someone’s product.
That article can stay on the front page of Google for years. Therefore, you can continue to earn money years into the future. Now you just have to focus on building more articles.
Sell on Amazon or eBay
Flipping products for profit can generate you a $50,000 per month income. Your goal is to find products in one marketplace and sell them for higher in another. However, most people need to work up to this level because of the cost of inventory.
Selling on Amazon and eBay is the perfect place to flip products. Amazon and eBay have a large customer base who are ready to buy.
You can find products to sell at yard sales, stores with clearance or discount sections, or browsing online. Buy products with a decent profit margin and which have a likelihood of selling.
You can even start with a small amount of money. For example, starting with $1,000 and selling an initial batch of inventory might leave you with $1,500. Now you have more money to purchase more products and work towards $50,000.
Buy or Build a profitable website
Websites can be a low maintenance way of generating $50,000 per month. However, you will need some experience building or running a website. I recommend building one profitable website and then using your experience to get more websites.
Each website will generate a certain amount of cash flow each month. The more content each website has and the better your monetization, the better the cash flow.
Let’s assume you’ve built your first website which brings in $2,000 per month. You can use that money to hire Freelancers to make you another website. Alternatively, you can use that money to purchase another website which is already profitable.
Websites are relatively cheap which makes them perfect for investments. For example, you can buy a website making $1,000 per month for $20,000.
With your first website, you’re making $2,000 per month and will have $20,000 in 10 months. Buying another website now brings your monthly income to $3,000 per month. Therefore, purchasing another similar website will take 6.5 months and bring your income to $4,000 per month.
As you can see, this process will snowball very quickly. It’s only a matter of time until you hit your goal of $50,000 per month.
ECommerce is another business which has proven itself to generate massive amounts of income. There are many ways to start your eCommerce website. You can buy wholesale, dropship, or flip products like you do for Amazon and eBay.
Once you have a highly converting website, you need to focus on bringing qualified traffic. Generally, traffic is brought through paid advertisements, influencer marketing, or blog traffic.
Create a product
People are willing to pay a premium price on any product which helps them solve a pain point. Your job is to become knowledgeable in an area and create a product which solves a related pain point. You will have to do testing to determine an adequate price point.
Once you’ve identified your product, you should take pre-orders to determine the feasibility of the product. Test different price points to see what price is the most profitable.
Higher price products will have lower sales numbers, but lower price products will have sales in volume. You need to find the right balance between price and number of purchases for max profitability.
Now, the best thing you can do is find affiliate marketers to promote your product for you. You are exchanging a commission for the marketer to sell your product.
Let’s assume you have a $100 product. You are going to offer a 50% Commission if it’s feasible. Therefore, whenever someone else sells your product they get $50 and so do you.
In order to make $50,000 per month then you need affiliate marketers to sell your product 1,000 times each month. The more marketers you have promoting your product, the easier it will be to achieve this number.
Social media influencer
Social media influencers can make a lot of money by building an audience around a specific niche. Once your audience is large enough, you can promote products to your audience.
For example, you can build a Twitter audience around investing in index funds. The people that choose to follow you should be interested in index funds as well. Eventually, you can create a product to help people learn Index Fund investing and sell it to your audience.
Companies will also pay you for having an audience centered around a specific niche. Maybe your audience is focused on Health and Wellness. A company can reach out and ask how much it would cost you to tweet about their product.
For example, there is an Instagram influencer who has 300,000 followers. They charge $3,000 for one Instagram post.
As you can see, building up multiple social media accounts can be a very good way at working towards 50k per month.
Affiliate marketing involves selling someone else’s product for a commission. Generally, you own a blog or some other online presents to sell the product.
Remember the example where you could sell a $100 product for a 50% Commission? You don’t own the product, but you can still earn the same amount of money.
One of the easiest ways to make $50,000 per month as an affiliate marketer is through email. Create a landing page where people can exchange their email address for something free. Use paid advertisements to get people to sign up for that free item.
Build trust with the people on your email list and then pitch them about your affiliate offer. A good converting landing page and email series can be very profitable. In addition, you are building a list of people around specific interests to promote future products.
Flip services for profit
Flipping a service for a product can be a very lucrative strategy for making $50,000 per month. However, people will expect quality service so you have to be able to deliver. Failure to provide quality will result in a failed business attempt.
For example, the internet is in need of content writers. You can either become a content writer yourself or you can be the person who has a network of content writers.
Generally, you can find numerous content writers who produced blog articles anywhere from $0.05 to $0.10 per word. Your job is to find people willing to pay $0.30 per word for an article.
Once someone hires you to write a 2000 word article, pass it along to your freelancer. Your freelancer writes the article and charges you $0.05 per word or $100. You edit the article and make sure it’s quality work before sending it to your client at $0.30 per word or $600.
In a very short amount of time, you’ve managed to make yourself $500 from flipping a service.
Create Ads for companies
You can also create ads for companies and get paid. Most companies have no idea how to advertise online. Your job is to find companies who need more customers but also have the budget to advertise.
Ideally, you are sticking to the same type of business, like gyms or bars. Companies in large cities often have a much larger budget to spend on advertising. Make a list of large cities and determine what type of business you want to target. Find one client in each city.
Your advertising fee will need to be competitive for the industry, but let’s assume $1,000 per month. Assuming you’ve found one client in 50 cities your total advertising fees are $50,000 per month.
Hire a freelancer to create advertising images or other creatives. Set up advertising campaigns for each of the businesses.
The beauty of this model is that you are using one advertisement but for multiple businesses in different marketplaces.
Invest your business profits
Lastly, you should be investing your business profits to help reach $50,000 per month. Personally, I prefer to invest into dividend-paying stocks. Therefore, your Investments can help supplement your income to help reach $50,000 per month.Click to Tweet! Please Share!Click To Tweet
Summary: Making $50k per month with online business
As you can see, there are a lot of online businesses you can do to make $50,000 per month. You simply need to pick one and go for it. Through consistent action and hard work, you can be making a large income online.
Making $50,000 per month does not happen overnight. Instead, you will need to work hard to grow your income to this point.
Use your business profits to continually invest until you reach your monthly cash flow goals. Dividend paying stocks or exchange-traded funds can help provide additional cash flow.