Answer by Denis Grammakov:
Making that amount of money on the Internet is quite realistic. Think about it:
- To make $4000 per month you have to earn $133 per day
- If you are OK with working 7 hours per day, you need to earn $19 an hour
- Earning $19 an hour should be easy, right?
Let's see how we can do it.
When making money online, the most important thing is to have a solid foundation, a complete understanding of what you are doing. Personal branding is everything. This is not like flipping burgers or any other no-brainer job. To build your online brand you will probably need to refer to some other Quora topic, or you might want to go through several online courses.
Now let's go back to our cash problems.
For you to earn money you need people to pay you for something (duh). So let's move on to activities that may bring you money.
The boring stuff
Freelancing – this is a great way to earn money online, you will need to draw stuff, code stuff, take pictures of stuff and write some more stuff. It is very boring and for some of these activities you will actually need to know what you're doing. That's where these 6 weeks of preparation will be useful.
Being a Personal Assistant – also boring, but some people love doing that. My friend does that and she makes some good money off of it (> $4000). So why not.
Selling stock photography – If you are an expert photographer (or your wife and kids are) you can try to get to your target sum by uploading some of your best pictures online and selling them. You need to be really good and you need to have a lot of pictures taken though. Unrealistic for most.
Remote Teaching – teach people English, Chinese or yoga. My wife's English teacher charges around $17 an hour and he works every day for 12 hours or so. You do the math. (He uses Italkie as a platform).
Now let's talk about some stuff that is not so boring.
I will not go into stocks and Forex, as I am not an expert, and you actually may lose all of your money there. So don't do it if you are not an expert.
(The) not boring stuff
Sadly, doing not boring stuff is much more difficult but it may (or may not) give you (much) better results. Let's go.
Build a personal brand and sell your expertise by doing online coaching – this reminds me of the previous point which is Remote Teaching, but it brings in an entrepreneurial twist. some Quora users who posted their answers before me gave out some awesome links to online courses you might want to go through in order to teach yourself on how to build a personal brand around you and start using it to make some money. Coaching can be done privately through skype, or not so privately through webinars. That is how I learned to program. I attended free webinars and then paid the guy to coach me in a private manner. It did cost me money, but it all paid off quite fast.
Create a site (orsomebody to do that) and turn it into a money making machine by gaining traffic and monetizing on AdSense or referral programs. I am not talking about launching a startup. Of course, that is a non-trivial task. Millions of people are struggling everyday trying to come up with ideas and methods make their sites do good. You can try and get some ideas from listening to some , reading some (hint) SEO related forums or subscribing to some marketing newsletters ( ). Best part of this variant is that if you make it a reality it will start bringing you passive income faster than all of my other points mentioned, which, of course, is really nice.
Launch a Kickstarter project. If you have had an idea of an innovative physical product now may be a good time to give it a go and . 6 weeks should be enough to come up with a prototype and film a good marketing video that sells. Find articles of people telling about their successful (and no so much) crowdsourcing campaigns. Here's a good one, for example:.
A physical goods subscription service – if you are able to produce something at home or at work, you might as well sell it to your neighbourhood. Here are a few examples: my neighbour makes killer cupcakes. She sells them through Instagram and through a subscription. She uses Instagram to do 100% of her marketing. She drives a new BMW X3 and recently hired 2 employees. Another example: a girl that goes to the same gym I do makes Fresh Detox Juices at home. She bottles them herself and first thing in the morning she drives to several gyms to deliver her fresh product. By the time I come to the gym the fridge is almost empty. One bottle costs ~$12. I don't know which car she drives but her Chanel bag looks really nice 🙂
So I guess what I am trying to tell you is that making $4000/mo is possible. But it requires effort. I wish you all the luck. Now go hustle.