With the development of technology, the penetration of the internet, and the use of smartphones going up exponentially, the world has opened up to eCommerce and ways of making money through online selling. Well, the term is explanatory, and we are going to be discussing the various ways of how to earn lakhs in minutes and that too with very little investment.
Did you know? The online global shopping market increased to 4 trillion in 2020, and it is expected to grow to have nearly 300 million shoppers online.
How to earn money online?
Online selling means selling your products to online shoppers using the internet and a suitable platform while advertising on social media, Whatsapp, Facebook, etc. ECommerce platforms could be B2B platforms or business-to-business like Shopify, B2C platforms or business-to-consumer like Myntra, Amazon, Flipkart, etc., or C2C platforms or consumer-to-consumer like eBay. So, what are the best options in online selling where you can earn 1 lakh per month online?
1. Open your e-commerce store:
Just as with all businesses with brick-and-mortar stores, you will be opening your eCommerce store in the B2C or C2C model because online shopping has a huge market. So the essential steps to open your store may be just the same as opening a physical store, and here are the essential steps.
Step 1: Look for your niche and research the very big e-commerce market.
Step 2: Decide on your store’s name and legal structure, whether it is a proprietorship, partnership, limited liability partnership (LLP), Limited liability company (LLC), Pvt company etc.
Step 3: Apply for an employer’s license, registration, etc., if you plan to recruit people.
Step 4: Obtain business licenses and permits like the Goods and Services Tax (GST), Tax Information Network (TIN), etc.
Step 5: Choose a suitable platform like Flipkart, Amazon, Myntra, etc., and create your store’s website using your domain and hosting.
Step-6: Develop an eCommerce product list for your store.
Step-7: Market your store globally through friends, relatives, social media, etc., and earn 1 lakh per month without investment.
Also Read: Tips and tricks to make money online
2. Start an eCommerce platform:
Starting your e-commerce platform is a B2B business like Shopify, where you have other stores selling on your platform and using your payment processing. It is a lot like being the hub that earns a commission from all its arms and sales. But this is quite an expensive method which can be very profitable once it is up and running. It allows the websites on your platform to set up their websites on your server and manage their operations, marketing, sales, and the website itself for a fee. And, the great part is that even average platforms can fetch you great income and you can easily learn how to earn 5 lakhs per month.
3. Freelance your way to money:
When your investment capacity is low, but you have great skills, you can freelance with your skills on several websites like Freelancer, Fiverr, Simply Hired, Flexjobs, Guru, and more. You can write, teach, edit, proofread, design, code for others and easily earn more than 1 lakh per month from home. You can be your boss, work full-time or part-time and from wherever you want. Just invest your time in honing your skills and start freelancing.
4. Be a business consultant:
Becoming a consultant needs experience, contacts and confidence to get a variety of things related to business done. Again this business niche depends on your skills. A business consultant is a professional consultant in an advisory role to other companies and businesses, helping them streamline operations, achieve goals, obtain results, get licenses, etc. There are a variety of fields to work in like finance, IT, supply chain management, marketing, HR, engineering, operations, legal and security. This is a great way for those who want to know how to earn 1 lakh per month.
5. Involve in DropShipping:
Dropshipping is an online marketing method where the storekeeper never has the products or inventory maintained at the store. Instead, as a dropshipper, you take the order and send it to the product manufacturer, who delivers it to the customer without your intervention. You earn a fee or commission on the payments collected. All you need is an online eCommerce store which means a small investment, and you can learn how to earn 2 lakhs per month.
You can use a platform like Shopify or create your own website. Most dropshipping facilities and stores use Shopify, as creating a website of your own can be expensive and hassle you when dealing with global third party supporters and merchants.
6. Start Blogging:
How to earn 1 lakh per month online? Do you love writing creatively and expressing yourself? Try blogging as an option to earn well. Here are some simple steps to start your blog site on WordPress.
- Create your account on the WordPress site.
- Now select what you want to write about and your niche in writing or readers.
- Select your domain name and make sure it speaks for your blog. Choose a short and easy to remember domain name. For example, pure process.in, great bargains.in, etc.
- Use a hosting platform to help with your folders, files, videos, images, etc.
- Now create and build your website and its pages.
- You can now start writing blogs regularly.
- When you have written about 50 blogs, it is time to start promoting them on Google Adsense to draw more readers to your blogs and get a few ads on your blogs.
- This method can start you off in the process of how to earn.
7. Commence Affiliate Marketing:
How can I earn 1 lakh per month? Affiliate Marketing is a great business with a future and great profits as a passive income. It can prove to be a salary with time for students, those who lost their jobs during the pandemic, and those who have a bit of spare time to do affiliate marketing. Affiliate Marketing is where you promote the sales of other companies and earn a commission for your efforts in marketing, advertising and selling such products. In reality, it is just commission-based and a zero-investment business in marketing. Be careful and choose a product niche you are familiar with and can successfully market. Here is how you go about becoming a great affiliate marketer.
- Build your website and promote products.
- Sell your identified products on the Social Media Platforms like YouTube, Facebook, Instagram, Twitter, etc.
- If you are a blogger, promote the product through your reviews and blog.
- Publish banners, ads etc., on the popular platforms and websites in your marketing niche.
- Try the Amazon Affiliate Program or look for reputed companies who offer an opportunity to become affiliates like Tata 1mg.
- Work hard as the commissions are low initially but provide a passive income in the long run.
8. Become a YouTuber:
Want to reach a mass audience and don’t mind investing a bit? Start your YouTube channel and earn millions. What you need to do is promote your channel and viewership well. Remember, you can do this if your content is engaging, needed, and what your audience wants to see. Then go ahead and make high-quality videos and upload them on YouTube. The more your viewership, the more will be the advertisements on your channel, and this draws in the money in your tutorial on how to earn 1 lakh per day.
9. Earn Money on Social Media:
Facebook and Instagram can help you earn your money online! Promote brands, make people aware of other brands and earn your money. Remember that social media is an unlimited market with very high viewership. Over 90% of those with smartphones and internet users use Instagram and Facebook. Your followers increase when you give them great recommendations. The marketing can be inorganic or organic. Just create a Facebook or Instagram page and make sure you post daily and reply to all queries. It takes time, but it is a big wave of money once it starts. How to earn one lakh per month? This business could also promote your services as a freelancer, affiliate marketer, social media influencer, consultant etc., where your earnings should exceed 1L per month.
10. Domain selling and buying:
How to earn 1 lakh per day? Some old domains are like number plates on vehicles and sell for a fantastic sum! So if you are good at selling and buying, then think of this business to earn well. You can also rent your domain and earn from it. The domain is just like your physical house property, and if it has a good ranking and SEO or great domain authority, you can rent and earn. For example, you have a domain that has a decent SEO ranking, then look for startups in the same segment who do not want to waste time on creating their websites from scratch when promoting their business online. Check out their bids and sell if the money is good.
11. Sell your startup as a product:
There are several investors looking to buy out creative startups online. The entire experience of establishing a startup is confidence-building and if your business idea has potential, then sell your startup as a product.
12. Start a share market consultancy:
How to make money from 1 lakh? Many people want to invest money and do not know how to play the share or stock markets. So if you are good at this, use your knowledge to start up a consultancy in shares or teach others online how to invest in the stock market.
Starting a business online is an option to earn millions. You need to choose the right option for yourself and work very hard on establishing your business. The business ideas listed in this article give you a head start on how to earn 1 lakh per month from home. But that’s not enough. You will also have to track your accounts, returns, taxes, filing, IT and more. Do you have issues with payment management and GST? Install the Khatabook app, a friend-in-need and one-stop solution for all issues related to income-tax or GST filing, employee management and more. Try it today!