1. Affiliate Marketing

Easily earn money while you sleep. Affiliate Marketing is one of the best ways to earn passive income for businesses and individuals. The concept is simple and various under two situations:

 

Situation 01 – You Have a Product

In this case, if you have a product that sells and want to increase your channels of sales & distribution, entice an affiliate program/marketer through a financial incentive to sell your product. In return for a commission, they sell your product for you – your sales and income are passively generated.

You can enlist your products on sites such as Wirecutter, Nerdwallet, or you can approach digital marketing agencies or affiliate agencies in Sri Lanka that carry out affiliate marketing programs.

Situation 02 – You Don’t Have a Product

If you don’t have a product, you can become an affiliate marketer and sell other brands’ products in return for a commission. You can now convert this into an almost auto-generating passive income if you sell it through your ad, website, or blog, where your audience would click the link and be directe

d to the brand’s site. A confirmed sale will entitle you to a commission.

You can join affiliate programs such as Amazon Associates, Solvid Affiliate, ShareASale Affiliates, eBay Partners, Shopify Affiliate Program, and more. If a confirmed sale is made through your link, you will receive a commission. These platforms offer different payment schemes, so explore and find what’s best suited for you!

The figure below illustrates the affiliate marketing process to better understand how the process works.

 

  1. Social Media Marketing

I don’t need to tell you about how social media has stormed into our lives. I mean, everyone is on it – from the young to the old. This makes it one of the largest platforms to reach people worldwide.

The critical point to note is that most don’t know how to use social media for marketing purposes. It’s not about just posting on social media such as Facebook or Instagram. It has many underlying factors, such as content creation & strategy, graphic design, managing campaigns, and marketing techniques to entice customers.

Don’t worry, I know it sounds complicated, but it’s really not. If you want to start social media marketing, you can purchase a course from sites such as Udemy and Skillshare. This is a high demand skill in Sri Lanka because social media marketing is snowballing (related article:  why is it the best time to start social media). Not many people have the skills to do it correctly. This can be your time to shine!

 

  1. Blogging

Blogging is an effective way of building and connecting with your audience. It is also a great way to spend your time at home. It helps you get creative and learn new things. The best part of blogging is that – it is fun and can earn you a lot of money. How? Head on over to this article and learn 7 ways to monetize your blog

 

  1. Freelancing

Freelancing is one of the best side hustles that you can start. The opportunities are endless because you can freelance any skill or service to clients. Some of the popular freelancing skills are writing, proofreading, video editing, graphic designing, web development, and many more.

The best part of freelancing is you are the boss! It’s incredibly flexible, and you can charge your own price for the service/skill you’re offering. This is an incredible way to earn some money. The only requirement is to have a skill or the will to learn a new one. If you meet these criteria, freelancing is the answer for you!

However, freelancing is not as popular in Sri Lanka as it is worldwide. But what if I told you that you can offer your services worldwide from the comfort of your home? Head over to freelancing platforms such as Upwork, Fiverr, freelancer, and create your profile, set a competitive price, and you’re on your way to making money in USD. This converted to LKR is a substantial amount. So even if you get a few clients, you can still make a lot of money out of it.

 

  1. Online Tutoring

With all the schools closed, online learning is the new normal. If you are already a teacher or believe you have skills/knowledge & the passion for teaching, this is for you! Enlist yourself on online tutoring platforms such as Tutor.com, Chegg, Wyzant. You can earn up to $45 to $100 per hour for online tutoring. This is a great way to make money. You can grow this even more by creating courses and publishing them on platforms such as Udemy and Skillshare.

Muddashir Siddique

Muddashir is a contributing author for The Entrepreneur Media. He is also a Certified Digital Marketing Professional (DMI Ireland) and currently pursuing the final year of BBA in Business Management and MIS (Northwood USA). Over the years, he has gained expertise in content creation, design & marketing of enticing content.

Clayton Durant

Muddashir Siddique

Muddashir is a contributing author for The Entrepreneur Media. He is also a Certified Digital Marketing Professional (DMI Ireland) and currently pursuing the final year of BBA in Business Management and MIS (Northwood USA). Over the years, he has gained expertise in content creation, design & marketing of enticing content.

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