With everything going digital in 2020, you may find it challenging to make money in a digital economy.
As 2020 continues to go virtual, you must know how to adapt to survive in this digital age.
From schools to Comic-Con and everything in between, 2020 is the year everything went virtual.
Therefore, you must know where to go and what to do, as this pandemic continues to wreak Havok on Americans everywhere.
If you’re reading this post right now, then you likely have questions about how to make money in a digital economy.
Also, you may have lost your job recently due to the pandemic we are experiencing right now.
With so many businesses shut down and many cities still on lockdown, you may find it challenging to make ends meet.
Over the past several weeks, I’ve received many emails from my loyal subscribers asking me to write a post concerning this topic.
After doing a tremendous amount of research on this topic and digging deep, I’ve uncovered enough information to write a detailed post.
Therefore, within the following post, I’ll provide you with ten powerful ways to make money in a digital economy.
Furthermore, I’ll also provide you guys with tips on successfully transitioning to the online world.
I’m sure you guys may have many questions for me, and I hope to answer them within this post.
However, if I fail to answer your question, please leave it for me in the comments below.
Do we have a deal?
Let’s get right into things today.
Are you guys ready?
Make Money In A Digital Economy: Transitioning & Expectations
Before I show you the various ways to make money in a digital economy, It’s essential that you understand the differences and what to expect.
Unlike a traditional 9 to 5 job, there is no commuting back and forth.
Therefore, your virtual attendance is the only thing required.
Also, company uniforms aren’t required.
However, you could show up wearing your PJ’s if you wanted.
Additionally, you would get paid the same as you do now unless your company is living in the stone age and paying you via “paper check.”
If your working digitally, it just makes sense that you’d get paid digitally as well.
Now that you’ve got an idea of how the digital revolution works, let’s dig into some of the best ways to make money in a digital economy.
Are you guys still following me?
1) Make Money In A Digital Economy With Affiliate Marketing
Affiliate marketing is one of the best ways to make money in a digital economy.
If you have the necessary computer skills and know-how to click a mouse, check email, and update your Facebook status, then you may want to check out Affiliate Marketing.
I have personally been making a full time living from this business model since early 2014.
Therefore, it has remained at the top of my recommendations for six years and counting for apparent reasons.
Affiliate marketing involves building a website and writing articles for the world wide web.
The purpose of these articles/ product reviews is to promote other people’s products.
The idea is when people search Google for information or a product review, your website will appear in the search results.
When people read your review, like what they read, and would like to purchase “said product,” they can click on the link at the end of your review.
By doing so, you’ll earn an affiliate commission.
Also, the merchant takes take of shipping and all customer support issues.
It would help if you focused on sending them more customers.
If you’re looking to survive and thrive in this new digital age, I couldn’t think of a better way to do so.
See my top recommended Affiliate Marketing Training Platform Here.
2) Make Money In A Digital Economy With YouTube
Not a fan of writing?
Perhaps making videos is more of your style.
If you have a unique and upbeat personality and aren’t camera-shy, you may want to start a YouTube channel.
Statistics show that people find videos more engaging than reading a bunch of text.
Most people think that you need expensive equipment to start a YT channel.
However, this is quite the opposite.
Did you know you can start a YouTube channel with only a smartphone?
Also, you don’t even need to show your face on camera (if you don’t want to)
However, before you launch a channel, you’ll need to think things out and develop a name for your channel.
Are you passionate about saving animals or perfecting your golf swing?
From video games to making money online, there are a plethora of things you could discuss on your channel.
Ryan has earned over $22 million reviewing toys on Youtube.
Furthermore, he’s also only eight years old.
Can you believe that?
Since then, he’s gone on to create his franchise.
You’ll find his head splattered across store shelves like Walmart and Target.
If an 8-year-old kid can do this, why the heck can’t you?
Do you feel me?
All you need is a smartphone or a decent video equipment setup.
Check out my top-rated YouTube Training Course Here!!
3) Make Money In A Digital Economy Via CryptoCurrency
If you’re into trading and the stock market, you may want to look into cryptocurrency as another excellent way to make money in a digital economy.
Getting started mining crypto will require an investment if you wish to make money.
However, if you have no desire to build websites or a YT channel, this is the second-fastest way to Make Money Online.
Keep in mind tho, this comes with its own set of consequences.
Not only will you need to invest a minimum of $1,000 to get started, but you’ll also risk losing everything if the odds aren’t in your favor.
Also, if you aren’t sure as too what Bitcoin is and how it works, do your research before investing,
you might as thoroughly flush that money down the drain.
With that said, if you have experience trading and the stock market, bitcoin could be an outlet for you to earn an additional income.
For the best crypto software, check out this program. (Link coming soon)
4) Become A Freelancer
If building websites aren’t your thing, but you still enjoy writing, then you may want to consider becoming a freelance writer.
By doing so, you’ll build a portfolio of paying clients that will pay you to write content for their website or blog.
As more and more people shift to the online world, freelance writers’ demand is drastically rising.
Therefore there couldn’t be a better time to join the freelancing world than right now.
To qualify, you’ll need to be fluid in English and have excellent spelling and grammar skills.
Depending on how skilled you are will determine the amount of money you can make.
Some freelancers earn $40 to $50 an hour, where others charge on a piece rate.
There are some freelancers out there who earn up to $500 for one article.
Keep in mind, writing an article of such size also requires much attention to detail.
Furthermore, in most cases, this consists of more than writing alone.
Besides writing all of this out, you’ll also need to provide images and ensure there is a well-balanced linking strategy throughout the article.
If you’re searching for a complete training course on how to start a freelance business from start to finish, I’d highly recommend Contena.
Are you an experienced freelancer looking for your next gig?
Perhaps you’re interested in learning how to build a freelance business?
Contena can help you with both of these, plus so much more.
Checkout my Contena Review Here!!
5) Create A Digital Product
If you know something, why not create a digital product and offer it for sale?
Creating a digital product is one of the best ways to make money during this new digital age.
Don’t worry; you don’t need to be an expert on a particular topic to create a digital product around it.
Whether you’ve beaten a particular video game on the most challenging difficulty available or want to help people improve their credit score, you could write a digital guide.
In most cases, this would come in the form of a PDF file.
Creating a digital product could take a while to write everything out and design it the way you want it to look.
However, once the final draft is finished and published, you’re ready to do business.
I’d suggest partnering up with Amazon or E-bay as a marketplace to sell your digital product.
If you’re a more advanced marketer, there are places like Teachable.com, where you’ll learn how to create full-blown courses and training pieces.
You could also sell your digital product on many social media marketplaces and anywhere that allows you to list products for sale.
Learn more about Digital Marketing Here!!
6) Become A Virtual Online Teacher
If you enjoy working with kids and would love to become an ESL teacher teaching kids from China, then listen up.
This next opportunity is right up your alley.
As virtual education becomes more popular, you’re going to see a higher demand for these types of virtual teachers.
However, there are a few requirements you’ll need to meet beforehand.
They are as follows:
- Bachelors degree (the US or Canada)
- Minimum 1-year teaching experience (Mentoring, Tutoring)
- High speed internet with access to a webcam and working microphone
- Live in the United States or Canada
If you meet the requirements, pass the testing, and are hired on, there is the potential to earn up to $25 an hour plus bonuses.
Not too shabby if you ask me, wouldn’t you guys agree?
Classes usually run about 25 to 30 minutes.
Besides the pay, there are many other benefits of an ESL teacher.
They are as follows
- Learn Chinese traditions and cultures
- Helping Chinese students learn a second language
- Paving the way for our future generation
If this sounds like something you’d love to read more about, check out my detailed VIPKID Review Here!!
7) Product Testing
If the thought of testing new products before launch sounds appealing to you, then you may want to look into product testing.
Various product testing companies will ship products directly to your door to test in your home.
You’ll have up to two weeks to thoroughly test these products out before stating your opinion.
Besides, you’ll get to keep the product as partial payment.
Not to mention, you’ll also receive compensation for each test you complete.
Are you interested in testing out the new Playstation 5 (PS5) before it lands on store shelves this Christmas?
Perhaps you’d love to test the new I-phone 11 and share your thoughts on it?
These products and so much more are awaiting you once you decide to become a product tester.
Depending on the type of products you review will determine your rate of pay.
From $3 to $250 and up, there is something here for everyone.
Here are my top recommended legit product testing companies:
Unfortunately, due to this program’s nature, you won’t be able to survive or thrive in the digital age with product testing alone.
However, if coupled with my next opportunity, this would be worth your time.
8) Taking Surveys
Taking surveys is one of the best ways to make money in a digital economy.
Therefore, I had to fit surveys into this list post somehow.
As I said earlier, don’t expect to become an overnight millionaire or anywhere close to it.
However, if you’re diligent, patient, and consistent, you can earn a couple hundred a month taking surveys.
Surveys have evolved drastically from the way I remember them back in the day.
I can remember going through the painfully boring process of multiple-choice questions.
If I made it to the end, I was lucky to earn 50 cents, lol.
Nowadays, I have several survey sites that earn me at least $200 a month, sometimes more.
Here are my top five recommendations for taking surveys online.
If you couple this with product testing and a few other survey panels, you’ll make enough to make this worth your time.
While surveys don’t pay the greatest, they are still a great way to supplement your current income.
At least it’s something, right.
9) Virtual Tutoring
Are you highly skilled at something that you could teach over video chat?
You could profit from this skill as a virtual tutor within the online space.
With everything going virtual, you could teach anything you want through video chat.
Whether you do this through Skype, Facebook video chat, or Youtube, the potential the make money in a digital economy will Blow Your Mind.
With that said, take a look at a few of the many things you could tutor people below.
- Health and Fitness- How to lose weight during a pandemic
- Holistic Health- Show people the benefits of eating healthy and holistic healing methods
- Financial Health- Offer a saving/ investing money coaching call.
- Make money Online– Show people the various ways to make money online.
Do any of the things listed above resonate with you?
If not, that’s fine, as these were the ones I could think of quickly off the top of my head.
There are millions of other things you could tutor people on via video chat.
Depending on the topic of interest you go with will determine the income potential.
However, you could charge upwards of $2,000 or more for one tutoring package.
Furthermore, you could charge by the hour as well.
Whatever you feel the most comfortable doing.
What are you skilled at to the point where you could offer people tutoring lessons?
Let me know in the comments below.
10) Start A Podcast
Starting a podcast is one of the best ways to thrive in the digital age.
Also, this is an excellent way to make money in a pandemic (that we’re going through now)
Furthermore, getting started is pretty easy and straightforward.
- What equipment will you need?
- Identifying what you want to talk about (Premise)
- Crafting your channel
- Designing your channel
- What featured guests will you bring to the show?
- How long will each episode be?
Starting you may feel like you’re talking to yourself (You are mostly)
However, once you start sharing your podcasts on social media and growing a following, this can be a gratifying career.
Starting a podcast can also be a fun and rewarding way to build a following and engage with people from all across the globe.
Currently, I have many podcast subscriptions.
Therefore, I know how powerful they can be.
If you have a knack for technology and have always wanted to start a podcast, I have one question for you.
What’s holding you back?
Make Money In A Digital Economy Conclusion
Having to transition from corporate America to work from home in a digital environment can be challenging.
However, hopefully, these ten ideas have provided you with the information necessary to thrive in this new digital age.
These ten ideas would all be an excellent way to make money in a digital economy.
However, the one that has held for me is affiliate marketing.
As I said earlier, I’ve been earning a full time living with this business model for the past six years and counting.
If you’re a newbie who is just getting started, affiliate marketing is the best way to do so.
If you’re tech-savvy and would instead learn how to start a YouTube channel or launch a podcast, that’s perfectly fine.
Each one of the above ideas can and will make money if you follow through with them and remain consistent.
With that said, I hope this detailed blog post has given you a few ideas about how to survive through the new digital revolution.
Questions, comments, something you’d like to add?
I’d love to hear about it in the comments below.
I’ll get back to you with a detailed reply.
Until Next Time
~Your Friend, Scott~
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Here are a few other ways to make money in these unprecedented times.