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4 ways to make a million online

By LLM Reporters on 19th June 2020

From travelling the world on a luxury budget, to owning that lavish car, life has plenty of indulgences to offer, and if you’re working a high-paid job or running your own successful business then all of it is yours for the taking.

Once upon a time, it was only the wealthiest of families or those with the highest level of education who could stand a chance of making five figure months, but a new generation of millennials – dubbed the ‘nouveau riche’ are proving that there is more than one way to achieve success.

The number of new online businesses has soared over the past decade, with more people working remotely than ever before. But working online isn’t just an opportunity to create a lifestyle of freedom that allows them to work from anywhere – and approached right, can come with a healthy income attached that will offer financial freedom for life.

Websites like Search Remotely allow people to search for online jobs from anywhere in the world, doing everything from web design and development and social media marketing to teaching online seminars and language classes, and with employers willing to pay generous hourly rates, it’s easier than ever to make more money than in a standard 9-5.

But the real online winners are those who have tapped into its business potential themselves, spotting a gap in the market and diving in head first. It only takes a quick scroll through Instagram to see a flurry of people making millions through ventures including life coaching, health coaching, drop-shipping and ecommerce – and enjoying the good life by spending their days sipping cocktails on tropical islands, driving fast cars and dining at Michelin-starred eateries around the world while they do it. Gone are the days of being chained to your desk, 9-5, for a 40-hour work week – and the possibilities of working online from anywhere are becoming ever apparent.

So, if the idea of making a million online whilst enjoying the good life appeals to you, then look no further – because we’ve rounded up the four best ways to turn a tidy profit – and all from your mobile phone or laptop, from anywhere in the world. The trick? Creating multiple streams of income. Why pick just one area of focus, when you can try your hand at two or three?

Courses and webinars

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Already a multi-millionaire? Then it couldn’t be easier to multiply your wealth. By creating a course or webinar series training others on how to achieve what you have, you can easily create a lucrative additional stream of income. And, with so many people searching for exactly this type of content online each day, with the right marketing strategy you’ll find you have very little trouble selling out spots.

App development

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Image credit: Rafael Henrique/Bigstock.com

App development doesn’t come cheap, but some of the world’s best creators have become multi-millionaires thanks to their innovative ideas, which are downloaded in their thousands every single day. Games like Angry Birds have accumulated upwards of £40 million since their release – so if you’re the techy type then this is a worthwhile avenue to explore. Not to mention, it’s passive income at its best – and the gift that keeps on giving.

Ecommerce

Online shopping isn’t going away any time soon, and is now a part of the way we live – even more so following the current Covid-19 pandemic, with shops only just beginning to reopen and many people continuing to prefer conducting their sprees from the comfort of their own homes.

Structured correctly, an online ecommerce business can generate 100 per cent passive income – leaving you free to sit back, relax and enjoy life – or better yet, get out there and live it. Models such as drop-shipping require minimal investment and very little intervention from you along the way once set up efficiently.

Coaching

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If you’ve got some expertise to share, then coaching is a lucrative way to cash in – particularly if you’re the type of person who likes to help others. Providing clients with support to help them improve their mindset, overcome limiting beliefs or discover their talents is now an immensely popular way to make money online, with more people than ever seeing the value of investing in a coach to give their life some direction.

Best of all, anyone can become one – it’s just a case of determining what you can offer others, and packaging it.

In 2020, it couldn’t be easier to make your first million online – or, if you’re well beyond that already, to create multiple streams of income that will see your fortune grow and grow. So, if you’re keen to see a few extra zeros on your bank balance this year, there’s no better time to get started.