There are plenty of ways to make $100 - $200 per day online, but like with making $100 -$200 offline, expect to put in a lot of effort.
Here’s the process I used to do this:
- Create a process that provides value
- Package this into a service
- Find people who will purchase that service
- Hire and delegate this process to your employees.
- Repeat steps 3 and 4.
This resulted in over $180,000 annual recurring revenue and my first business sale.
The
only time I stepped outside of the house for this business was to file a
fictitious business name statement. Everything else was done in my room
on my computer. While the first 8 months or so were rough, I was
eventually able to delegate most of my responsibility to the point where
I was spending around 2–5 hours per month to operate the business.
My Story
Senior
year of college I started playing around with marketing. I was an
accounting and finance major, so what did I know? My budget was very
tight, but I needed an effective way to market one of my startups.
I stumbled upon some articles on how to effectively market one’s business with Instagram, and after some testing and tweaking, came up with a process that allowed me to effectively get the attention of those within my business’s target audience through the social media platform.
Somewhere
along the way, small businesses began contacting me on Instagram to
help them grow their following. The next thing I knew, I had 10 clients.
I only viewed this as a side project that was earning me a small amount
of money to help fund my main startup, but before I knew it, I had 20
clients, then 30, then 100.
I charged just
$15 per month for this service, as it required very little time on my
end per client, but as I was surpassing 100 clients, I knew I needed
some help. I began outsourcing some of this work, increased the price to
$30 per month, and focused my attention on marketing this service.
The
clients kept on signing up and I continued to focus on marketing and
hiring and training employees. Soon we reached $15,000 monthly recurring
revenue and were growing by 15% each month.
As
I spent so much time training my employees and delegating my
responsibilities to them, I had reached a point where I was spending
around 2–5 hours per month on this business. This allowed me plenty of
time to focus on my other projects, which included an app to help those
with food allergies find the best local meals, a proprietary device to
help men with erectile dysfunction, a service to promote restaurants and
food brands through the help of foodie micro-influencers, a service to
provide business owners and marketers with unlimited custom designs for a
flat monthly rate, and a
few others.
Takeaway
With an ever-increasing number of responsibilities, I sold this business to focus on my other ventures and to allow myself the ability to adventure into my growing interest in real estate. While this one business single-handedly allowed me to make over $200 per day without having to step outside of my house, it more importantly allowed me to grow as an entrepreneur and learn the importance of delegation.
The
business model that I utilized is one that I am deploying with my other
projects and one that I am confident can bring success to anyone that
takes advantage of it.
There are plenty of
ways to make $100 – $200 per year online, and they all involve finding a
way to provide value for others and turning it into a service or
product. Start looking for ways that you can provide value to others,
and then get ready to work your butt off :).
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