Thread by @ronaldnzimora

How To Make Money Online.

The Thread 👇🏾

In 2003, a chance encounter with a magazine, Success Digest, led me down a path I had desperately been looking for, the path to self actualization via a business entity.

That day I encountered the term "make money online".

"How on earth does someone 'make money online'" I wondered, as I am certain many people too are wondering even now. Well, 15 years on, not only do I make money online, I have built businesses that have done really well online.

I understand it, and this thread will explain it.

First of all if you want to truly, really "make money online," there 3 things you must get right from the word go so you don't waste your time, money, energy and effort.

1. DO NOT go to Google and search for "how to make money online".

If you so, verily verily I say onto you...

you shall be led down a labyrinth filled with scams, pyramid schemes, half baked, time wasting activities and despicable human beings who masquerade as "online entrepreneurs".

99% of people who go this path end up never escaping this maze.

DO NOT DO IT!

Enough said.

2. To make money online, you MUST have something for sale and you must learn how to sell it online.

You can't cop out by transferring your responsibility to sell to someone else, ala, "do it for me" or think other people will make you rich by "helping" ala MMM. Don't be dumb.

You do not "make money online" in a literal sense. You do so by offering something of value, a product or service,in exchange for money

3. You must choose something real, something that can grow and you must have the discipline/patience to learn and do work to grow it.

Get it?

Now let's talk about the different things you can do to make money online and what you should run away from when you hear "make money online".

I'll start with what to avoid with a long spoon. Engaging in them is like dining with the devil and using a short spoon.

Here we go:

1. Online surveys - purportedly, you simply respond to surveys and you get paid a certain amount.

If it was that simple, trust me, I'd be doing surveys right now instead of tweeting this.

2. Get paid to read emails - this one is so dumb I don't even know how people believe it.

3. "Oil and Gas investment" - also masquerading as "online investment programs" aka, invest =N=100,000 and get paid 40% every 30/60/90 days.

There are currently new ones making the rounds now.

Who are the shite people who invent these things? And who believes all that shit? 🤔

4. Cash Gifting programs - a.k.a MMM and its many cousins (oh when, I was in Russia, I found Mavrodi's house. If you lost money in MMM, I know where to find his mother, just kidding 😜.)

All that, "provide help, receive help" nonsense.

Their promoters morphed into #3 above.

5. Online MLMs - pyramid schemes disguised as network marketing opportunities.

If they have no real product and focus on recruiting new members, it's bullshit, it's a pyramid and it will come tumbling down.

And oh, if their "product" is a bunch of ebooks/courses, same applies.

6. Basically, anything that promises you'll make a lot of money doing very little to no work.

It's mostly shysters and scammers who promote those things and I don't care if it's your trusted cousin telling you to join in.

Avoid them all.

Now let's get into the real ways to actually make money online.

Understand again that you're merely using the internet reach people who are interested in something, a product or service you will provide and they will pay you. Online is simply the medium.

You need to get this.

1. Software as a Service (SaaS) - for simplicity and shorten the thread, they're software platforms that provide you a service or digital product,could be web apps or mobile apps too.

E.g, Paystack,PayLater, Cowrywise, NairaBet,Iroko TV, etc

They cost more than others to set up

2. Information Publishing - here you publish information people are looking to learn/master. You can publish step by step guides/courses on virtually any topic people have a interest in - money, relationships, business, travel, education, health, food, jobs, etc.

It's a really neat way to make money. One of my businesses does this and it's extremely profitable with incredible margins. You can deliver the product digitally or physically or in person.

3. Affiliate Marketing - here you're selling someone else's product for a commission.

It can be for anything - real estate, digital products, offline services, practically anything.

You get a link that recognizes you brought the visitor and when they buy, you get a cut from 10%-80%.

If you want to do this for digital products, check out expertnaire.com.

4. Freelancing/Consulting - this is where you provide skilled tasks to businesses and entrepreneurs.

You need specialized skill in a particular area or subject - graphic design, social media marketing, copywriting, sales.

Business owners buy these services like clockwork.

Check out:

fiverr.com for the simple task. Don't let the $5 jobs fool you,it's merely a starting point.

People charge as much as $10,000 to do jobs there.

99designs.com - for graphic artisits (you need to be badass to compete here,and you can be bad ass)

UpWork.com - here you can sell skills ranging from graphic design to writing, to social media marketing to copywriting to programming to sales, etc.

It's the world #1 skill selling website.

It's incredible what you can do on these sites. Check them out.

5. E-commerce - I did a massive thread on this the other day.

If you haven't seen it, get it here.

https://twitter.com/ronaldnzimora/status/1039590202807906306?s=19

If you have millions to invest, you should probably look at SAAS.

If you write really easily, or can get people to do it, you should consider getting into Information Publishing.

If you simply want to promote products without dealing with customers, Affiliate marketing is 👌🏾

If you're not the writing type, want something you can touch,E-commerce is great.

If you have zero money, zero connections but have skills or are willing to learn one, then do freelancing/consulting.

If you notice, I left out Blogging as a way to "make money online, here's why.

That's because blogging is extremely hard and for most starters, it isn't an exceent choice. To do it, you need a ton of patience and discipline and in any case, you still need to incorporate Information Publishing, Affiliate Marketing, Consulting, maybe even E-commerce for a...

blog to be profitable.

It's like wanting to eat bold egg but you out the egg inside "moo moi first and then cook it before eating. Why not just boil the damn egg?

Blogs aren't profitable by simply starting g on and putting an "advertise with us" page up.

It always cracks me...

up when I see a brand new blog with such a link. It's a freaking new blog FGS! Stop thinking you're Linda Ikeji, she's an outlier, and has the advantage of being early, you don't.

Thinking a blog will survive by simply running ads is foolish.

That's it. Hope you enjoyed it.

I do similar threads frequently.

You can follow me on:

Twitter: @ronaldnzimora

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Thanks for reading.