440 Top 10 Ways to Make Money Online (UPDATE)

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Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Lewis Howes?

  This is episode number 440 on how to make more money online.

• 0:08Lewis Howes?

  Welcome to the School of Greatness. My name is Lewis Howes, a former pro athlete turned lifestyle entrepreneur. And each week, we bring you an inspiring person or message to help you discover how to unlock your inner greatness. Thanks for spending some time with me today. Now let the class begin.

• 0:33Lewis Howes?

  Welcome everyone to the School of Greatness Podcast. I am excited about this new series. Previously, we talked about how to connect with influencers, how to build relationships with them, and how to maintain relationships over time. And so many of you loved this theme, and you said you wanted more. So we're bringing you more about really how to build your business online. And in this episode specifically, it's my top 10 ways to make money online. Now, I used to be broke as a joke, right? I didn't have any money. I had no clue how to make money. I was never taught how to make money. I didn't go to school to learn how to do that.

• 1:13Lewis Howes?

  So for me, it was a struggle when I finished playing football and chasing that dream, transitioning it into a new world for me. It was really an unknown. And I was intimidated. I was scared. I was young. I didn't have a college degree yet. And I really had no clue what was possible for me. And I remember for a couple of years being frustrated because I just wasn't sure if I would ever learn how to make money. And I was sick and tired of, you know, getting the crumbs from my sister and my family always like giving me cash here and there, supporting me. I didn't feel like I could take care of myself. So I really started to reach out to mentors and learn online about how other people were

• 1:54Lewis Howes?

  generating an income, how other people were building businesses, and how money actually operated. And the more I stopped being scared to talk about money, and the more I actually just started asking open questions to people and learning about how they did everything, I realized that you need to have these conversations. If you want to save money, if you want to earn money, if you want to make it, you've got to be willing to have conversations at some point so you feel comfortable with money. And some people may not like this episode because you feel uncomfortable with it. You feel like... It's always been a negative thing in your life, or you've always had an association around money being as bad or evil because of certain things that happened when you grew up with your family around money, or people

• 2:38Lewis Howes?

  got weird when someone made a lot of money. You know, there's, there's always these conversations that happen, I think for all of us, that make it a confusing topic and kind of taboo. But I want to dispel that today because the more I talk about it, the more open I am about it with coaches and mentors and my community, I feel like it comes to me more effortlessly. But without further ado, let's go into the top 10 ways to make money online.

• 3:10Lewis Howes?

  Welcome back guys to another episode of the School of Greatness Podcast. In this episode, it's a solo round. We're talking about the top 10 ways to make money online. Now, I did an episode about this a couple of years ago and it blew up. People loved it. There's thousands of comments and it's been helping a lot of people. So I thought I would do an updated version of this, talking about how to make more income for yourself, whether you're working with a job right now, or you're completely a freelancer, or you're a business owner. It doesn't matter what category you're in. This is all about how to make more money online and build your business. And if you missed the previous episodes on building relationships with influencers and how to manage them over time, then make sure to check out those previous

• 3:53Lewis Howes?

  episodes as well, 434 and 437. And the reason I wanted to do this again is because I remember the feeling of when I was completely broke about eight years ago. I remember the frustration around money that I had. I didn't know how to make money. I didn't

• 4:10Lewis Howes?

  understand it at all. And it scared me to be honest. And I think I was so scared of it that I wasn't able to bring it into my life. I was so worried about talking about it and being shameful that I didn't have any that it was a frustration of mine and it was really hard to attract more income coming into my life. So I really wish I would have had this video and this episode eight years ago because it would have helped me along my journey, making it an easier process to attract. And bring money into my life. So this is all about the top 10 ways to make more money online. The first thing is teaching and training. We all have some type of expertise. We all have something we love or something that we're good at.

• 4:51Lewis Howes?

  And there are so many channels online, so many teachers who are all ages, young and old, who are teaching about beauty tips or health tips, relationship tips, any type of how to videos or teaching and training do extremely well online. So, once you start to build up your content around this and you're serving an audience, teaching them something that they need, that's when you can really start to build an audience and sell products around your how to. Number two way to make money online is offering a service. Now, there are so many people who have great services. You could do copywriting, you could do design, you could do SEO, you could do videography work. There are so many different services that you could offer and all you need to do is

• 5:35Lewis Howes?

  put it out there online and start attracting new clients. Number three is creating and selling products. Now, there are so many different people who are making money on Amazon right now. They're writing ebooks, they're creating informational products and they're uploading it to Amazon and making a lot of money there. I have a lot of friends who are creating software as a service and they're creating these products online to offer a service to people as well and they're making money through their software. People are starting Etsy shops. There are lots of different things you can do to build a product and sell it online. Number four is digital courses and membership sites. Now, I've got a number of courses online. I've probably created over 15 courses over the last eight years and all of these do extremely well.

• 6:19Lewis Howes?

  You know, School of Greatness Academy, Legacy, which is our premium product that helps people build a big online business around doing what they love. There are a lot of fitness communities that have continuity, meaning every single month you sign up, you pay a fee and you get your meal prep, you get your nutrition plan, you get your workout plan and every single month you pay to get access to this training as a membership. So, digital courses, membership communities, all of these are great. Great ways to make money online as well. Number five is affiliate marketing. Now, if you don't feel like you're creative enough to launch a product, or have a course, or have a service, but you can attract an audience. This is where you can really make a lot of money by selling other people's products,

• 7:04Lewis Howes?

  other people's services. There's so many people who are driving traffic to Amazon or other sites, and they're generating sales and getting commissions from bringing leads to these companies online. Another great example is AppSumo. My friend Noah Kagan at AppSumo started this, and he is crushing it. He finds the best apps, the best products, the best services, and sells them at a discount for these companies and makes a big commission as an affiliate, because he has the audience that wants these products. So figure out a way to attract the audience, and you can sell other people's products and services to create your own commission. Number six is building a site and selling ads.

• 7:46Lewis Howes?

  Now, this is more of a challenging and long-term solution. For me, this is not going to be the fastest way to generate income, but if you can do it right, you can really make a mark online. I'm talking about sites like MindBodyGreen, like Huffington Post, Entrepreneur.com. All these places have built publishing companies where they have consistent content. They're building large audiences, and they're selling ads to the eyeballs that are coming to their audience. So again, it might take a little more time to build this up if it's something you want to do, but it can pay off big time if you do it. And number seven is selling sponsorships to branded content. So something that we do at School of Greatness is sell sponsors on the podcast.

• 8:29Lewis Howes?

  We find a couple per episode that are premium sponsors that align to the vision of what we're doing, and that makes sense for the audience that we have. Another great company is ATTN. They create amazing video quality online, and they sell branded sponsorship content to those videos. And they generate a lot in sales based on the traffic they're getting for those videos and those eyeballs. So whatever it is, if you have a podcast, if you have a video show, YouTube channel, selling sponsored branded content around your content.

• 9:06Lewis Howes?

  The eighth way to make money online is selling events. Now, I've got a big event called the Summit of Greatness. You can check it out at the show notes after this. And I was also inspired by creating my event from World Domination Summit. My friend Chris Gilbo started this years ago in Portland. I've got another buddy, Cole Hatter, who's got Thrive, which is all about entrepreneurs and helping entrepreneurs make money matter. So, all these ways to launch events in real life, but selling them online, using social media channels, using your email list, using other people's audiences to promote and sell your live event online. Number nine is masterminds and coaching.

• 9:48Lewis Howes?

  Now, early on, I used to do a lot of one-on-one coaching about LinkedIn, believe it or not. Then it evolved into more general online marketing coaching and business coaching over the years as people wanted to learn more from me. There are so many coaching opportunities out there. It's a massive industry coaching in itself. There are health coaches, relationship coaches, meditation coaches, business coaches. Any type of need that someone has, if you can help them solve their problems, solve their challenges through one-on-one coaching or group coaching or high-level mastermind coaching, it's a powerful way to make more money by offering this type of coaching and mastermind service online.

• 10:31Lewis Howes?

  I offer a high-level mastermind called the Greatness Mastermind, where I bring in the top of the top entrepreneurs from my entire community who are making multiple six, multiple seven, eight figures a year. And we guide them and mold them into how to 10x their income and 10x their impact each year. So, that's something that we offer, but there are so many different types of group coaching and mastermind programs out there. So, take a look at a few and look at which model you like the best. And number 10 is to open your minds and get creative. There are so many people on Instagram that are making a lot of money. They have big Instagram inspirational accounts, beauty accounts, fitness accounts, and they're figuring out ways to leverage it, whether it be selling products,

• 11:16Lewis Howes?

  whether it be selling sponsored posts, whether it be partnering with other brands to bring in income. So figure out creative ways. It doesn't have to be a set way that everyone else is doing something. If you've got an idea, if you've got an audience, if you've got an offer, a product, then get creative of how you can bring in income or make money around that creative idea. So this is my top 10 ways to make more money online. Again, if you're struggling trying to figure out how you're going to pay next month's rent or how you're going to make some more cash on the side or whatever it is that you want to do, have a conversation about money. Don't allow money to frustrate you or scare you.

• 11:59Lewis Howes?

  Be open to talking about it so you can be open to receiving more of it in your life. But you've got to add a value in some way. It's not just going to fall in your lap. You've got to add a value and all these 10 ways, there's a value exchange. Think about how can I best serve people? How can I best give people what they want? How can I give them some type of unique skill, talent, service that's going to optimize their life in some way? And when you can do that, you're setting yourself up to win to bring in more money. So this is episode 440. If you enjoyed it, please share it with your friends. Leave a comment below if you're on the YouTube channel. Like it up. We have resources below as well from all of the information we talked about in this episode.

• 12:43Lewis Howes?

  So it'll all be linked up with the show notes. LewisHowes.com/440. And also, if you want to learn how to really optimize your online business, we have a free download that is all about the top 10 tools and resources for building your business online. So make sure to click the link in the show notes or on the video right here to get this free download of our top 10. Resources that you must have if you want to build your online business the right way. And if this is your first time here, then make sure to subscribe to the podcast over on iTunes, Stitcher or SoundCloud and on the YouTube channel because next week we're doing a whole

• 13:26Lewis Howes?

  video about figuring out if your idea is actually profitable or not. So if you have a big idea, I'm going to let you know how to break it down and see if it's actually going to work and bringing in money for you. So check it out for next week. Again, my name is Lewis Howes. Thank you guys so much for being here. Share this out with your friends. LewisHowes.com/440. And you know what time it is. It's time to go out there and do something great.