Launch Your Online Business in Just 7 Days
$5,000 a month is quite a bit of money.
It might seem impossible to get to that figure on your own, and the thought of being an online freelancer can be a little scary.
In this article, you’ll learn how to earn money to the tune of $5,000 a month.
We’ve included profitable business models and a step-by-step guide on how to turn your business into a lucrative venture.
Let’s make bank!
When you break it down, $5,000 a month isn’t far out of reach.
Think about it:
These are real figures people happily pay to get the results promised.
When given the right tools, you can also create amazing content that’s just as valuable as what’s created by all of the entrepreneurs you admire.
While general global job satisfaction is high, only 15% of full-time employees feel engaged in their work.
If you’re one of the 85% whose 9 to 5 is dull and dreary, then we think that it’s time for a change.
You could pursue a completely different career path or look at creating a passive income online — giving you more time to spend with your family or doing what you love.
In this article, we’ll cover how you can escape the rat race through any one of these side hustles:
2. Consulting or starting an agency
3. Setting up an ecommerce store
5. Affiliate marketing
6. Starting a blog
7. Creating courses
8. Creating a membership site
You’ll find out exactly who each of those business models is best suited to, examples of successful business owners in each niche, what you need to get started, and which platform to use to support your side hustle.
Ready to be your own boss? Keep reading to find out exactly what to do to earn a little extra cash.
Everyone's an expert at something, you just need to figure out where your strengths and specialties lie.
First, take a seat, jot down all the abilities and expertise you have, and turn that into a list of your skills.
Your skills are valuable because of the time, effort, and talent that it takes to accomplish what only you can do.
These skills are especially marketable if you have qualifications to validate your abilities.
A simple way to make money is selling your skills as services or freelancing.
Ready to dive into some really profitable niches where your abilities can start earning you money? Keep reading!
There are a few ways to make money coaching, but this depends on where your passions and experience lie.
If you have experience in the business sector and love working with people, then becoming a business coach is a great way to earn extra cash.
Essentially, you’ll be looking at someone else’s small business, and you’ll provide them with new ideas to help them achieve their business and financial goals.
Jay Abraham built a successful consulting and coaching business with over 10,000 clients to date.
His unique skills lie in thinking “way outside the box” for exponential business growth.
In exchange for helping other businesses achieve success, you, like Jay, will receive compensation — it’s as simple as that.
Another way to make $5,000 off your expertise is to create your own marketing agency.
You might choose to specialize if you’re an expert at Facebook Ads or graphic design work.
For example, folks like Glen Allsopp started digital marketing consultancies because they had digital marketing skills.
He focused on his SEO skills and applied them to meet his clients’ expectations.
Even entry-level digital marketers enjoy average earnings of $70,000 a year — that works out to $5,833 a month.
If this is where your skills lie, why not take the plunge?
If you don’t have special skills that you can easily turn into a business, you can make $5,000 a month by selling products — without a warehouse or high overhead costs.
You could try your hand at traditional ecommerce where you pay for or create products first and then go about selling them to customers.
If you’re just getting started, it’s going to take a while to start making $5,000 a month.
While traditional ecommerce can be a good way to make money, we advise against it, unless you have significant start-up capital or you’re prepared to wait for that $5,000 a month profit.
Getting an outside investment means generating income reports, and if you’re just starting out, they don’t yet exist.
Luckily, there are other ways to succeed in ecommerce.
Dropshipping is a great option if you’re looking to make some extra money.
Dropshipping (or drop shipping) is a method of selling products without keeping stock.
Tze Hing Chan’s dropshipping success story revolves around his Shopify ecommerce business, Subtle Asian Treats.
His product of choice is boba tea plushies that made him $19,000 profit in just 2 months.
You’re effectively processing orders and purchases, as well as marketing your products, and the supplier ships products directly to your customers.
You just take your margin.
While you’re not earning back the full price of the product, you also don’t have to cover the costs associated with production, so it’s a real win-win situation.
Similarly, you can start an affiliate marketing business.
Affiliate marketing is marketing other people’s products and taking a commission for each product you sell.
All you need is a site and a sales funnel which is exactly how Shawn Collins, an affiliate marketing success story, got to where he is today.
Affiliate marketing allowed Shawn to minimize his costs and maximize his profits.
With multiple industry awards under his belt, Shawn co-founded the Affiliate Summit and has more than 30 years of experience in this field.
Again, you don’t sell your own products, but you’re making a decent income that can quickly grow and make you $5,000 in a month.
As a freelance writer, like a blogger, you could begin by writing guest posts and charging for any sponsored content on your blog post.
However, making money blogging in this way can be tricky because you’ll need an established and sizable audience to attract new customers.
If you have skills across social media platforms, you could make a fair amount of money creating content for these as well and resharing them to your audience.
That’s how Smart Passive Income makes its impact.
Pat Flynn, the man behind the platform, lost his job in architecture but is now a profitable content creator with multiple streams of income.
As you can see, this business model is a great way to build a supplementary, if not full-time, income.
Other bloggers take their content one step further by creating videos and end up earning a lot of money.
There’s no denying that video is where the wisest content creators are headed, but that doesn’t mean that the written word is dead.
Vlogging and ranking on sites like YouTube still mean you’re battling the search engines to appear on their results pages.
One of the best-known names in the vlogging space is Felix Kjellberg, also known as PewDiePie.
Because of this channel, PewDiePie earned $7.4 million in 2014 alone.
With videos regularly hitting over 1 million views in just a few days, his influence and power as a marketing machine are undeniable.
It might seem impossible to recreate this kind of viral success, but you don’t need to be a household name to make a profit.
If you can post valuable videos often enough, YouTube will reward you with a hefty advertising income at the end of the month.
If you can write to rank and don’t mind being behind and in front of a camera, we strongly recommend you get on this gravy train.
You could make $5,000 on advertising alone.
Amazon’s own affiliate program can be a great way to make money off your blog.
The Amazon Associate program is just one example of how other bloggers are combining affiliate marketing with their existing blog and website.
The process is fairly easy:
Your affiliate income will boost your online revenue immediately.
Remember, the more articles and posts you write, the more space you have to place those links.
Digital products are the best way to make the most out of your skills and lean into ecommerce.
This is definitely a favorite product idea and business model.
We strongly recommend considering it when thinking about making money online.
Services are hard to scale without either raising your prices or hiring extra people to help you out.
However, digital products allow you to leverage your knowledge and sell it at scale.
Here are some suggestions that’ll help you make an income online.
Avid content creators can make money online by placing some of their most valuable content behind the locked gate of a membership site.
In order to access all that value, people will have to pay a monthly subscription fee.
Membership sites are excellent if you’re looking to make a more passive income online.
For example, Smart Blogger has a membership site called Serious Bloggers Only, packed with exclusive content.
Access comes at a price and rolls around every month, providing the creators with a monthly passive income.
Creating online courses is another way to monetize your skills but in the form of a digital product.
You can sell courses to thousands of customers, and all you need to do is create that first online course once.
After that, online courses are almost a passive income because people will continue to consume the content, which you’ve already set up.
This is the perfect niche if you love to teach people and know how to set up a membership site — an online course functions as the same thing.
Phil Ebiner’s Video School Online is a great example of successful online courses turning expertise into income.
As with any product, the key lies in marketing your online courses and acquiring customers without paying hundreds in advertising fees to get them.
Sales funnel marketing is one of the most effective approaches to promote your business.
Think of a sales funnel as the road your customers take towards purchasing from you.
For example, their first step may be seeing your ad on social media or your page in Google search results.
Then, they come to your site where you explain how your product can help them and offer a valuable resource in exchange for their email address.
You continue the conversation by seeing how they react to your lead magnet, behave on your website, and by personalizing your email content.
You convince them of your product’s value, and when you send them the right offer, they convert into customers.
There are a lot of steps your leads take before they decide to purchase your products.
Sales funnels allow you to gently steer them towards the right decision, every step of the way.
Fortunately, you can predict purchasing patterns and completely automate them, so you can effectively run your business on autopilot with sales funnel builders.
Sales funnel builders are extremely handy tools that allow online businesses to create and put their sales funnel into practice.
In fact, when you use tools like systeme.io or ClickFunnels, you’ll even be able to pick from sales funnel templates and customize them.
No coding or integration with other tools is needed.
If you want to increase your net worth, the key is in reducing your costs while maximizing your earnings.
In practice, this means you should focus on affordable marketing ideas:
Fortunately, with an effective sales funnel, you can successfully convert plenty of that traffic into sales.
One crucial strategy to implement that attracts new customers is offering a lead magnet.
A lead magnet is a valuable resource you give away for free in order to demonstrate your knowledge and credibility to first-time visitors.
The goal is to get their email addresses and use a nurturing email campaign to turn them into customers.
For example, if you sell a marketing course as Sam Dey did, you’ll probably want to offer a lead magnet like his eBook: “The Free Formula To Generating Leads & Sales Online”.
In order to download the lead magnet, your target audience member has to give you their email address.
You can then use it to add them to your customer relationship management system (CRM), analyze their behavior and interests, and send them relevant, personalized, content through email.
(This is why email marketing’s ROI is 28.5%, the highest of all marketing methods.)
You can monitor different actions leads and customers take on your site.
Then, you can automatically personalize your interactions with them; from up-sell offers to email content that’ll motivate them to make a purchase.
A classic example of this “trigger automation” approach is sending a lead magnet after getting a lead’s email address through a form.
Many businesses already make use of this tactic — but you don’t have to be a big company to enjoy the benefits.
Imagine how easy it becomes to earn $5,000 a month if you have a good product and an automated sales funnel that promotes your online business, even while you sleep.
Another important aspect of sales funnels is your landing pages.
They’re the pages your visitors “land on” after clicking through on your ads, search engine results, and links in general.
The key is to match the offer you made with the link and convince them to download your lead magnet.
Sales funnel builders also offer templates for landing pages.
After choosing your template, you’ll be able to add conversion-driving elements such as:
This exit intent pop-up, from million-dollar blogger Olivier Roland, is a great example of a high-converting landing page element.
The goal here is to explain the value of your offer (a free report, but also his incredibly valuable book) and turn casual viewers into interested leads on your email list.
The bigger your email list, the easier it’ll be to earn $5,000 in a month.
When starting an online business, your regular costs will look something like this:
Total: $1640 — and that’s without advertising or paying for other services that’ll help you integrate your marketing and create a coherent sales funnel.
Most people don’t have a few thousand dollars lying around to invest in a new venture.
Taking out a loan gets expensive, and external investors need income reports before they’re willing to part with their hard-earned money.
That’s why systeme.io is the perfect partner for online marketers, freelance writers, or any other online business owner — it starts free and can stay free.
You’ve seen costs add up when you use different tools for different purposes.
This used to be the standard.
But if you use systeme.io, you get all the services and tools you need within a single platform:
Systeme.io was purpose-built to be an all-in-one tool, so no one would have to spend thousands to make $5,000 a month.
systeme.io’s pricing plans
You’ll notice that systeme.io offers full website and sales funnel functionality, for free.
All of our plans come standard with the following features:
Our 3 paid plans are set up to scale alongside your online business so that you don’t spend all your money on hosting.
Normally, all-in-one platforms cost upwards of $1,200 per year.
Here at systeme.io, you can cancel your subscription any time, and you can choose to pay annually to save a further 30%.
From freelance writing to online course creation, systeme.io is a real-life software hero and a serious money saver too.
Systeme.io offers easy-to-use services at an unbeatable price — you won’t need good luck to succeed.
Sign up for free, and you’ll be on your way to making $5,000 a month in no time!
Other posts about making money online:
- Online Business Ideas: Here are 10 ways you can make money in 2023
- Gumroad Complete Review 2023
- The 3 Best Ways to Make Money on Instagram (2023)
- How To Make Money On Social Media
- Top 20 Side-Hustles for 2023
- 5 Ways To Get More Coaching Clients Per Month
- How To Become A Freelance Writer in SA
- How I Made A $20,000 Sale From Just One Lead
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