If you're looking to make money online in Australia, you'll be pleased to know there's plenty of opportunities out there to consider.
Ever since I left University, I decided that the 9 to 5 slog just wasn't for me, and I'm not alone. Thousands of Australian's are quitting their jobs every week to start their own side hustles.
But before you dive in, you should be aware of the endless scams out there. If it sounds too good to be true, then it probably is. Also, there's no such thing as overnight success, so anyone promising this, is probably after one thing, your money.
This guide is going to show you 5 ways you can make money online, working from home, on your own schedule, that actually generates substantial income.
You're never going to make much money completing surveys, or getting paid for your opinions.
Many other guides out there unfortunately recommend this as the #1 way to make money online, but this couldn't be farther from the true.
Why Make Money Online?
With pandemics such as Covid-19 and unemployment rising, now is definitely the time to look into starting your very own side hustle.
With a few hours per day you can definitely start your own online business. And Australia makes it so easy for entrepreneurs to start making money online as a sole trader.
Plus any expenses you incur in the process are tax deductible - score!
So let's dive right in, and checkout the best ways I recommend.
5 Ways to Make Money Online In Australia
1. eCommerce Store
The easiest way to make money online is to start selling something.
Gone are the days of hiring an expensive web developer, you can build a fully fledged eCommerce store for $29 a month.
Platforms such as Shopify & Bigcommerce, make it possible for any Australian to start an online store, collect credit card payments and get money deposited into their account within 2 days.
Plus with overseas wholesalers opening their doors under a drop ship business model, you can get started without investing a cent in stock that may or may not sell.
Drop shipping is the process of selling products you don't own, collecting a payment, then having a supplier ship directly to your customer in discreet packaging.
You pocket the difference between the sale price and the supplier price. Imagine selling a mug for $20 that cost you $5 with free shipping. You'd make $15 per sale, gross profit.
Of course you'd have expenses, but what's left over is your net profit.
The hardest part is finding what to sell and the second hardest is getting customers, but this is what business is all about. If it was easy, we'd all be rich business owners.
Start small, find something that interests you, that solves a problem. This is the best advice I can give you. You can use platforms such as Google Trends to find out what people are searching for.
You can promote your eCommerce store on social media as well as using paid ads on Google Adwords, Google Shopping and Facebook Ads.
You can learn more about starting an eCommerce dropshipping business in eCom Elites, a $197 training program that offers over 30 hours of support.
2. Affiliate Marketing
There are millions of affiliates out there, you probably don't realise it. When a business refers you to another business, they're probably getting a financial or non-financial benefit out of doing so.
So why not become an affiliate marketer? You can start this business with a website. We've done a guide on how to start your own blog.
Other businesses offer affiliate programs where by they'll pay you a small percentage of any sales you send their way. This might range from 5-20% of the sale price for a physical product.
But could be as high as 75% on a digital product or service.
Your job is to get clients and send them to the business, like a mini sales man, but without cold calling or dealing with the customers directly.
The easiest form of affiliate marketing is to create a website, review products or provide how to guides and then recommend a solution to the problem.
Additionally you can create sales funnels and create mini websites. You can use native ads, which are those ads that are shown beneath news websites, I'm sure you've seen them.
The Motley Fool is a perfect example. They provide free financial advice with the intention of promoting their premium service.
But how do you start affiliate marketing as a beginner? Well there's many courses out there. Some cost thousands, others cost $200. Checkout Udemy for a quick fix.
3. Social Media Marketing
Business owners are great at what they do, but most have no idea how to actually get leads and sales for their business.
That's why there's so many digital marketing agencies in Australia all offering services such as SEO, social media, paid advertisements and sales funnel setup.
So why not join them and start your own social media marketing agency? You can set this business up for free (using their money for ads) and a phone to drum up clients.
Cold call or email prospective businesses and offer them a free trial. This will curb any sceptics as who doesn't love warm leads direct to their inbox?
Once they've seen your potential, it's an endless cycle of sending them leads, traffic, sales and in return you can charge a monthly retainer plus a fixed amount per lead.
Anyone can become a social media marketing expert and use paid ads to drive new customers to businesses. But why don't business owners do it themselves?
They have no idea how too, and that's where you come in. This is a very popular business model for those that like to socialise and help others.
4. Freelance Gigs
Becoming a freelance gig artist, allows you to spend time doing something you're passionate about. There's millions of types of freelance work out there.
Most common are things such as freelance writing, graphic design and virtual assistants
However other less common options include, flyer distribution, sales assistance, voice-overs, infomercials, drawings, translation, animation, programming, business assistance.
Platforms such as Fiverr allow anyone to start this own gig, offering services from $5. However the real money is offering services that cost more, such as faster delivery, more revisions or higher quality of work.
Some of the top Fiverr freelancers earn over $100,000 per year, working for themselves.
And once you've established yourself on the platform, you can easily start your own website and find your own clients using paid ads, social media and word of mouth.
Fiverr handles all transactions so you get paid fast and on time. There's no dealing with unruly customers who fail to pay their bills on time.
5. Drop Servicing
Drop servicing is basically service arbitrage and means working with clients who need a service, but you'll use a third party to actually perform the work, and take the difference in prices.
In some countries it's called sub-contracting but you can drop service anything you'd like. Other countries call it reselling services.
If you build websites for clients, you could start offering SEO services and work with an SEO agency and resell their services under your own brand.
Likewise you could start a writing agency and offer to create content for clients but have your own writers actually complete the content.
You can find many providers that offer such services suitable for drop servicing online.
Then create a mini website offering your services, or add new services to an existing website. You can then start marketing your new services and track down new clients.
You will need some sales expertise here, however you don't require any technical knowledge of the service you're brokering.
How Much Money Can I Make Online?
It's a question we often get asked and unfortunately there's no answer. It all depends on your personal situation. How much work you're prepared to put in, who your clients are and how successful you are.
Anyone that has a business with guaranteed income claims should be taken with a pinch of salt, if it was so lucrative wouldn't they just keep it too themselves, rather than selling it to someone else?
Before you rush out and buy the first training you find, do your own due diligence and ensure you're suited to the business opportunity and what you're actually buying.
How To Setup Legal Structure?
You can start as a soletrader. If your intention is to make a profit then you'll want to get yourself an ABN which is free and takes 15 minutes to register on the ATO website.
As you grow you may find you want to start a company which offers limited liability and all debts incurred are the responsibility of the company rather than you personally.
Most of the business models we mentioned above can be done as a soletrader. You simply need to keep track of your sales and expenses, and complete a tax return at the end of each tax year, with any profit or loss you made.
You should keep all your receipts such as web hosting, software tools, computer hardware, as all these can be claimed as a tax deduction in your online business venture.
The Internet has made it possible for anyone to start their own business or side hustle in addition to a day job. You don't need to be a whizz on the computer either.
Getting started is as easy as a good course or training, a computer with Internet access and the willingness to learn and not expect an overnight success to learn.
If this is you, then you could start to make money online in Australia soon.