What can I start right now to earn 5000 USD per month by the end of next month?

Updated on : January 17, 2022 by Micheal Barnett



What can I start right now to earn 5000 USD per month by the end of next month?

When you still have no idea, it is difficult ... If you have a large network, you can try multi-level marketing or try to sell things on Ebay.

Investing requires money. If you invest you should start with a minimum of 5000 usd in my opinion. And as a novice trader, you won't be able to hit that 100% profit in a month.

Q: How can I earn $ 1000 per month online?

You can do this in a number of ways.

The lowest barrier to entry business models that I know of are:

  • e-commerce
    • Dropshipping
    • By using a platform, for example, Fulfillment by Amazon
    • Or by your own website (the barrier to entry is higher)
  • Consultant
    • Training
    • Courses (basically a way to scale the consultancy)
  • And maybe YouTube (becoming a content creator)
    • You get extra money
    • Sponsorships
    • Patreon (and other forms of donations)
  • Autonomous
    • Design
    • Programming
    • Conceptual art
    • Game art
    • Animation
    • etc
  • Affiliate marketing
    • Just don't do it, it has become somewhat brutal by this time, the barrier to entry is extreme.
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Q: How can I earn $ 1000 per month online?

You can do this in a number of ways.

The lowest barrier to entry business models that I know of are:

  • e-commerce
    • Dropshipping
    • By using a platform, for example, Fulfillment by Amazon
    • Or by your own website (the barrier to entry is higher)
  • Consultant
    • Training
    • Courses (basically a way to scale the consultancy)
  • And maybe YouTube (becoming a content creator)
    • You get extra money
    • Sponsorships
    • Patreon (and other forms of donations)
  • Autonomous
    • Design
    • Programming
    • Conceptual art
    • Game art
    • Animation
    • etc
  • Affiliate marketing
    • Just don't do it, it has become somewhat brutal by this time, the barrier to entry is extremely high.

One thing to keep in mind is that e-commerce through a platform requires some startup capital to buy inventory.

All of these business models have pros and cons.

For example, drop shipping does not require you to purchase your own inventory, which reduces the risk that a product will not sell, however, you must develop advertising and marketing expertise and invest in advertising as well.

Another example:

If you choose e-commerce for a platform, you don't have to spend a lot on advertising, as the platform does it for you. However, you must invest in inventory.

In the 2 examples above. It is a matter of preference. What do you enjoy the most?

I have tried both and personally like ecommerce per platform much better (I use one based in the Netherlands). Also, you have to keep in mind that they are both 2 completely different ways of doing e-commerce and they require different kinds of skills.

So there are pragmatic pros and cons, but also preferential ones. If you are more of the content creator type who likes the idea of ​​being a public speaker to inform or entertain people. Maybe YouTube is more suitable for you.

Or do you just want to make money and don't care about your personal preferences? So you may want to choose something that pays off fast with little effort. In my opinion, it is wise to make sure that you at least enjoy what you do, it will make the trip worthwhile.

For example, I have no inclination towards affiliate marketing. I have tried it once and never again. I don't get any satisfaction from selling other people their products and services, I want to create my own stuff (I'm a creative builder type of person).

Then there is consulting. Basically, you give advice to people on the things you specialize in. Like fitness, weight loss, addiction, how farmers can get more out of their crops (anything is possible, as long as there is demand).

This business model is quite challenging to build momentum, but once you have it, you are good to go. A great advantage of consulting is that it sells information, so the profits can be quite large. But advertising costs cannot be underestimated.

In my opinion, e-commerce and freelance work are the fastest to gain momentum. Although, a lot also depends on your previous knowledge and experiences.

With freelance work, you can also earn a lot of money. I used to do this a lot and still do it from time to time. I made between $ 2,300 and $ 4,300 per month as a freelancer and I used and continue to use the money to invest in my core business, which is building e-commerce brands (I want to be something like Gamble & Procter or Unilver in the future).

Now that we get this out of the way. You absolutely have to keep one important key point in mind. This applies to everything:

You have to get pretty good at it.

And this is an understatement. You have to get filthy good at it if you want real results.

Don't relax, study and implement every day or anytime you have free time.

If you don't become relentless or obsessed. Don't worry, there are many hungry people in the world and they will do it for you.

So to summarize:

  1. Get oriented on business models online (just use Google).
  2. Choose an online business model.
  3. Be extremely good at it.
  4. Stay with that.
    • No, the grass is not greener on the other side.

If you switch from one business model to another, you will never achieve mastery of one and therefore your results will remain mediocre. Don't fool yourself into thinking that you should try something else when the going gets tough. Things will always get tough. That is the nature of the learning curve. You learn easily and a lot first, but the longer you stick with a subject, the steeper the learning curve becomes, hence why many people jump from one thing to another and never produce outstanding results destined to live a life of mediocrity.

Of course, in the beginning you can try a lot of things to prove it, just make sure you commit at the end.

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