The pandemic changed the way we use the internet. Facebook usage soared during the pandemic and businesses scrambled to get their online presence established. It felt like everyone was turning to the internet to learn how to make money online.
Is it hard to make money online? It has its challenges as the way of selling online is different than offline. The benefit of selling offline is that you can form personal relationships with clients easier, and if you are selling products offline in your brick-and-mortar location buyers can see the product prior to purchasing which has fewer return rates.
Creating a business online takes hard work and there are few overnight success stories. It might be harder to make money online because you really must earn your client’s trust before they decide to invest with you.
There are many ways to make money online and it’s a great way to build a side hustle business or a full-time business. The benefit of creating an online business is that start-up costs are lower, and you can work from home or be a digital nomad.
If you are interested in making money online, you have tremendous opportunity. The online business space is estimated to grow in the years ahead. Knowing how to make money online will be an asset.
Regardless of the type of business you want to go into, knowing how to make money online also requires money management skills. When building a business, you need to understand your business finances.
You need to keep your business finances separate from your personal finances. By keeping these separate it is easier to track your bookkeeping for your business and it will make your life a lot easier at tax time and if you need to deal with the IRS.
You need to keep an audit trail for every transaction that goes through your business as proof that you purchased that item. If you get audited by the IRS and do not have supporting receipts for purchases, chances are they will exclude that from allowable business deductions, and it will increase your taxes payable.
Your bookkeeping system is the holder of your financial data for your business and keeping accurate and timely records is important so that you can run financial reports and understand how your business is performing. It is vital to always know the financial health of your business.
Tracking the timing of cash coming in your business and when financial obligations need to be paid out is important to ensure you have the cash in the bank to support these transactions.
Sales are essential to a successful business but so is managing your money within your business. When you spend less than what you are bringing in the business that is a great start to the business. But as you reinvest the profit back into your business and grow the business, you will need to have an effective financial system in place that will help you manage your business finances.
The bottom line is knowing how to make money online is interesting but knowing how to manage your money will keep you in business for the long term. Whether you are making money online or through a brick-and-mortar business, the money management aspect of your business will always be the same. Ensure you have a solid financial foundation before you grow and scale your business.
The opinions expressed in this article are not intended to replace any professional or expert accounting and/or tax advice whatsoever.
How do You Make Money on TikTok? – Small Business Trends
TikTok the short video sharing platform has taken the internet by storm in recent years. The social media platform for short-form videos that span from fifteen seconds to three minutes has garnered over a billion users and downloaded over 200 times in the US alone. Tik Tok content creators often use their smartphones to create and share popular short videos that include dancing, comedy, and education, and more. This has opened up opportunities for businesses to collaborate with content creators to transform their brands and reach out and engage with customers. Below are some great ways where content creators are making money on Tik Tok.
Can You Earn Money on TikTok?
There are many ways where you can make real money as a Tik Tok influencer. besides creating content there are many options where you as a TikTok user can make some serious money.
12 Amazing Ways to Make Money from Your TikTok Account
Social media channels offer great monetization opportunities, if you are asking how do you make money on TikTok, there are many ways on how to use TikTok for business here is how you can do it.
1. Join the TikTok Creator Fund
TikTok’s Creator Fund rewards creators for creating engaging and popular videos on the platform for the number of views they get on their videos. To participate in TikTok’s creator fund scheme you will need to be 18 years of age or older, be a legal resident of one of the 50 states; meet a minimum following threshold of 10,0000 authentic followers; have at least 100,000 authentic video views in the last 30 days; and post original videos in line with TikTok’s community guidelines.
2 Sell Merchandise to TikTok Users
One of the great perks of being a social media influencer is you can also use your popularity for selling merchandise. As part of your influencer marketing strategy, you can use your platform to sell artistic works, t-shirts, clothing lines, memorabilia, and other merchandise to your followers.
3. Create Sponsored Content
Another way to generate some revenues through your TikTok channel is through sponsored posts. As a social media influencer, you can partner with brands and create sponsored posts to help promote products and services.
4. Make Money from TikTok Ads
TikTok ads offer good opportunities for businesses to widen their reach among customers. You can start making money through TikTok For Business by using in-feed video ads, branded Hashtags, brand takeovers, and branded effects to help you capture some good ad revenues.
5. Accept Virtual Gifts
TikTok users can purchase gifts and coins from their profiles. They can then gift their virtual gifts and coin payments to their favorite TikTok creators during live TikTok videos where creators in return can then cash them in and get real money.
6. Grow and Sell TikTok Accounts
Sometimes businesses would like to have a presence on TikTok but don’t know how to go about it. You can help them out by organically growing followers along a particular niche selling TikTok accounts on sites like 123accs, Accfarm, and Fameswap. If you plan on creating a side hustle by flipping TikTok accounts, you will need to build a strong content strategy, engage with followers regularly, and publish regular content to boost engagement.
7. Manage influencer campaigns
You can also manage influencer campaigns by acting as a middleman between a TikTok creator and a brand. As an influencer campaign, you help businesses connect with TikTok influencers and make sure key campaign activities are accomplished in return for a fee.
8. Management services
You can also make money from TikTok by offering management services for creators. Here you can render your services by helping them with a content strategy such as meeting content production goals, capitalizing on offers, and helping them grow their following.
9. Place affiliate links
You can also opt to participate in affiliate programs by placing links on your TikTok post descriptions or even your bio channel to generate some money.
10. Promote music track
You can use your TikTok to help promote music tracks by incorporating them in your videos and get paid for them.
11. Become a brand ambassador
Brands are always looking for influencers that can help them steer customers towards their products and services. As a brand ambassador, you help brands boost their presence on social media, spread positive messages about, and influence consumer sales. In addition to getting paid you as a brand ambassador not only get paid but also get to expand your professional network as well.
12. Join TikTok’s Creator Marketplace
You can join TikTok’s Creator Marketplace to work with sponsors and brands and all you have to is mention their product or service in your videos. To be eligible you will need to have at least a hundred thousand followers TikTok’s Creator Marketplace comes with an analytics tool for businesses that helps them identify your engagement reach, views, and demographics.
How to Make More Money with TikTok Videos
Now that you know some of the ways you can make some serious bank with TikTok here are some tips on how to make more money with TikTok videos.
Create, create: Your success will rely on your ability to upload consistent content regularly. You will need to continuously create compelling content for your followers to continue to like, share and encourage others to start following you.
Nurture a huge following: Just like other social networks, the secret to your success lies in how many followers you are able to garner. You will need to get as many followers as possible, and this requires that you regularly upload videos. The more followers you have would mean the more influence you will have on TikTok.
Engage with your audience: As a TikTok influencer besides generating the content, you will also need to actively interact with your followers. This means you will need to listen to them, produce content they seek, answer queries and produce live streams.
Promote your content on other social media platforms: You can help improve your chances of discoverability and engagement by opting to promote your TikTok channel on other platforms such as Instagram, Facebook, or YouTube.
Look to create multiple income streams from your account: To really generate some good income look towards expanding the revenue streams available to you. This will not only help you diversify your income but also increase your network and opportunities to make more money.
How many views do you need to get paid by TikTok?
To start earning money directly from TikTok, you must be 18 years or older, have at least 10,000 followers, and have accumulated at least 100,000 video views in the last 30 days.
How much money do TikTokers make?
TikTokers with large followings can make anywhere between $ 200 to $ 5,000 a month, depending on the size of their following. The amount of money TikTokers make will vary due to many factors, including localities, million followers and views. Creators who make videos that include dance and music often get the highest engagement and revenues in millions of dollars. For example, 19-year-old TikToker Josh Richards has earned over a million dollars through sponsorship deals with Reebok and Houseparty.
More in: Online Marketing, TikTok
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How to Make Some Money With Photography This Weekend – Fstoppers
Whether you’re an amateur or a new professional, money from photography will likely be on your mind. This video follows a photographer as he goes out and tries to do just that. (Warning: some strong language.)
When I first started out trying to make money from my photography, I went the brute force route that North Borders, the YouTuber behind this video went too. That is, contacting as many companies as possible, talking with the owners, and seeing what’s available. It’s a hard method to mentally withstand as you are going to receive rejections left and right. However, you only need one job to come in from a stint of canvassing for work to make it worth it, generally speaking.
In this video, North Borders goes around local cafés asking if they need any photography done for their social medias. You’ll see straight away that people reject you as almost a knee-jerk reaction. Eventually though, these guys get a small job (and then an unrelated bigger one). You might look at how much they earned and wonder if it was worth it, but I can assure you, the value often exceeds the money that initially crosses palms. You grow your network with local businesses, and open the door for repeat work.
I think North Borders did well in this video, but I’d have changed a few things if I were them. Firstly, I would have had a business card with me. People old and young will ask you for them, and while he offers his Instagram instead, I think a card with his details and Instagram would have been far more valuable. Also, and this is simply because I have a background in sales, bowing out at the first “no” someone gives you is seldom necessary or a good idea. It’s most often a failure on your part to demonstrate your value or the value of your product.
Nevertheless, these guys went out on a Saturday morning and ended up securing two jobs and some connections. Perhaps you could do the same.
Robert K Baggs is a professional portrait and commercial photographer, educator, and consultant from England. Robert has a First-Class degree in Philosophy and a Master’s by Research. In 2015 Robert’s work on plagiarism in photography was published as part of several universities’ photography degree syllabuses.
Check out the Fstoppers Store for in-depth tutorials from some of the best instructors in the business.
Cold calling is basic sales 101 that is not exclusive to photography. What I think could improve this a bit is having a value proposition ready that is more than “do you need photos” and mitigating objections that come up.
For example the objection of ” we don’t have any social media” could have been mitigated with a value proposition of setting it up for the business, creating some content for them to start with and teaching them the basics of a platform. This could turn into an ongoing client relationship making more content and would be longer term better value from a business perspective than a one time purchase.
Overall I think the video makes a good point about in person sales, and that the 10 – 5 -1 theory of cold calls still applies but it would be nice to show a bit of progress from the first cold call, to refining the sales process a bit.
If you cold call on businesses .. you will probably get more no soliciting reply’s than sales.
Cold calling a business doesn’t always have to entail asking if they want to hire you. There’s the common sales mantra of the call to action that you have to *ask* for a sale. This doesn’t have to be “do you need some photos taken”. It can simply be a flyer with an example of your work, then you simply introduce yourself, hand them a flyer, and then say “give me a call if you need some work done” – thank them for their time and then leave. Quite a bit of the time they’ll say “wait” and then talk to you about your work. People don’t like to be put on the spot and basically be asked “hey, you have to make a decision right now if your going to spend money”.
I’m in a restaurant for lunch so can’t hear the video but after watching a few seconds of it (jumped to 2:50 and watched him get shut down quickly) gave me the impression that he has no idea what he’s doing. And that’s coming from a person on lunch break… From his SALES JOB. I’ve been in sales since 2003 after graduating college and in that time I’ve won 5 national sales awards and more honors/recognitions than I can count and I’ve been a sales trainer the last 4 years. I’ve only had two years where I was ranked below the 50% mark in the nation and I’m usually in the top 20%. I share all of that so that hopefully my analysis here carries some weight.
-He doesn’t look professional – a suit and tie is unneeded (hell, I wear scrubs to work – medical device sales) but he should at least ditch the graphic t-shirt
-He doesn’t have a card or method of contacting him other than forcing the potential client to write something down. Worst case, email them (while standing there) so you have each other’s contact info.
-No portfolio to show immediately – prints would be amazing and far more impactful than showing on a tablet or phone, but even those might work. All he has is a camera and the person he’s talking to may very well have one “just like it”, or maybe their parent does.
-He doesn’t say WHY he chose that business or why he thinks he can offer value to them – an example could be: I checked out your web presence and I think that some images like these (shows portfolio) THAT I TOOK of ______ (business) could really show off the very best of what your business/store has to offer your customers instead of relying solely on images shared on review websites
-No upsell to offer like a photo package vs a store front only image, video, website (re)design, SEO recommendations, etc. Even if he can’t do these things he should let them know that he has great contacts who could help them if they need it.
-No attempt at differentiation from the general public (as mentioned previously) or other photographers
-Most importantly there was no attempt to learn ANYTHING about the business or the person he was talking to. You can’t (or at least shouldn’t) sell a solution until you know what the customer thinks (or agrees) the problem is
This was just HORRID. But, based on the editorial it sounds like he landed 2 jobs. Imagine if he had a clue…
$150 for an entire day of traveling around town and cold calling, and finally a photo shoot. I think this video plays more like what practices to avoid as an emerging photographer.
Plus it’s a 2 guys team $75/each. But wait there is more! these guys seem to be from Australia where 1 AUS $ = $.70 US. Ouch! I’ll admit I don’t have all details but it sounds like a day of fast food pays more, provides the uniform while these guys use their own gas, car and camera. I’m open to review and get more details, but that’s my conclusion for now.
My eyes just got burned out! Of my 38 years in marketing and sales, this is a big no-no in the industry. You never ever want to do a cold call in this why. It conveys to the customer you are not a professional. I could have walked right behind him and made a sale. Heck, I think I could have charged double the price. This kid has no clue.
Why did he fail on the coffee shops that said no? He didn’t show the managers his works. He didn’t show how great photos could help boost business. You first need to do your homework. A quick search, you can find out if a company is in need of photos. If they have a great looking website and good looking facebook and/or Instagram account, then you would be wasting your time and gas money to physically visit them. If you find that they could use your services, grab your iPad and make a demo of what you can do for them. It needs to be mind-blowing photos. Let the product sell itself!
If the owner is good with doing the photoshoot that day, make sure you bring all the gear for the photoshoot. I notice the guy didn’t have any light modifiers or any lights. I’m not talking about the large studio equipment, but they could have used the portable lights that fit in your camera bag. Bringing in that gear not only improves product photography, it also impresses the owner that he’s getting professionally made photos. It also helps to dress up for the part. Would you trust a fireman that shows up in blue jeans and a t-shirt to fight a fire? What if he only brought one fire extinguisher? Where’s the firetruck I would ask!
Timing is also important. Anyone who has worked in the restaurant industry knows, you never show up during rush hours. You will be shown the doors even if you were giving away free gold bars. Hours between 2 and 4pm are the best times to meet with a manager. Other businesses, say like a gift shop, you could approach them an hour after they’ve open. Business is usually slower in the mornings. Never ever go an hour before closing time. They are usually doing closing chores and are just wanting to go home. Also, people are getting off work and wanting to get their last-minute shopping done before heading home.
Cold calling can work if you do your research of the business, create a presentation of your works, dress the part, and bring your lights, you can make some quick cash. As someone once said, “Never go into battle until you know that you already have won.”
It is laughingly stupid to try to sell your photography without presenting your photos immediately on business cards, postcards, a photo album, or even an iPad portfolio of your work. Why would a business owner hire you to create engaging marketing photos when you don’t do the same?
How to invest £1,000 – The Times
This article contains affiliate links that can earn us revenue.
You’ve saved hard and now you want to know how to invest £1,000. This is a very sensible move and is more likely to make your money grow.
In this article, we set out:
Yes, this is a good amount to start investing with, but bear in mind that you should keep your money tied up in investments for years and it will be at risk. This is why you should have an emergency cash buffer of between three and six months’ earnings before you start investing.
You can keep this emergency cash in an easy-access savings account. Once you have this safety net of savings, investing £1,000 is a good starting point to buy shares or funds.
Many people worry that they don’t have enough money to invest, but there is no set amount needed to get the ball rolling.
With interest rates at record lows and inflation eroding the value of your cash, any lump sum of money in your savings account could be losing value.
An initial lump sum of £1000 could definitely help you generate some decent returns. Some investment websites or companies have a minimum amount you will need to invest, while others will consider those who are putting in a small amount of money every month.
You might want to consider a combination of the two:
When we see the word ‘investment’, many of us instinctively think to invest in stocks and shares directly on the stock market.
One way to invest your money is to buy shares, but there are other investment options as well.
Types of investment include:
Investing is not for everyone, and your decision on whether it is right for you, and if so where and how to it, will depend on a number of factors:
Your current financial situation: When you invest, the value may go up as well as down – the tighter your budget, the less comfortable you might feel with losing money and this will affect what types of investment you pick. Ask yourself ‘can you afford to lose it?’.
Your risk level: Everyone’s tolerance for risk is different and knowing what yours is will affect the type of investment that is suitable for you. If you’re not sure or afraid of the potential of losing money when investing, it might be worth getting financial advice from an adviser who can use specialist questionnaires and suggest the right types of product for you.
Your timeframe: When do you need to use the money? Some types of investment are more volatile than others, so although they may perform well over time, they are a bad idea if you know you are going to need the money in the relatively short term.
If you don’t need the money until you retire in several decades’ time, you can usually afford to take more risk in the hope of a higher return.
The best way to make money is to remain invested for at least five years because this increases the likelihood that your investment will rise over time. You should also spread your risk by investing in lots of different types of investments.
While investing can give you a financial boost, your money is at risk. In other words, there is no guarantee that your investment will rise and make you money.
We have a free investment course for beginners. Here’s module one.
There is no one ‘best’ way to invest £1000. The most suitable strategy for you will depend on the desired outcome, as well as risk appetite and timeframe.
Here are some types of investments to consider:
Funds: You can also invest in the stock market by buying and selling funds. These have a mixture of different shares in them, either chosen by an expert manager or designed to track a specific section of the stock market.
They include exchange traded funds, bought and sold on the stock market but tracking the performance of an index such as the FTSE 100 index of the biggest companies.
Funds can dilute the risk of investing in the stock market by spreading your investment.
While there is a lot of hype about cryptocurrencies such as Bitcoin, the truth is that these are highly volatile investments. While you might make a great deal of money, the price of Bitcoin, and other similar assets, moves about very fast so there is no guarantee that you will be investing at an opportune time.
Find out more: Should you invest in bitcoin?
If you do want to buy Bitcoin, the most common way is to use a cryptocurrency exchange. According to the most recent FCA report into these currencies, the most common exchanges to use are Coinbase*, Binance, Kraken, Bittrex and Bitfinex, all of which are based overseas.
You will need to check out trading costs and how to hold the Bitcoin in a ‘digital wallet’ to keep it safe.
Investing always carries a risk. The value of money you invest can go up as well as down. What is important is that you understand how risky the investments you are choosing are and that this matches your circumstances. You can also take mitigating steps such as making sure your portfolio is well diversified. If in doubt, take advice from a professional.
Investment platforms online allow you to invest money almost instantly, by transferring money from your bank account to the platform electronically. However it is important to take time understanding the assets you are investing in before taking the plunge.
The returns from investing £1000 vary hugely depending on your timeframe and the level of risk you are prepared to take.
The most recent edition of Barclays’ Equity Gilt Study, which looks at returns on different types of investment from 1899 onwards, shows that over ten years to 2019, shares returned 4.9 per cent a year, and gilts (government debt) returned 3.6 per cent.
Meanwhile leaving money in cash meant that it declined in value by 2.5 per cent due to inflation.
*All products, brands or properties mentioned in this article are selected by our writers and editors based on first-hand experience or customer feedback, and are of a standard that we believe our readers expect. This article contains links from which we can earn revenue. This revenue helps us to support the content of this website and to continue to invest in our award-winning journalism. For more, see How we make our money and Editorial promise
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Times Money Mentor has been created by The Times and The Sunday Times with the aim of empowering our readers to make better financial decisions for themselves. We do this by giving you the tools and information you need to understand the options available. We do not make, nor do we seek to make, any recommendations in relation to regulated activities. Since we’re not regulated by the Financial Conduct Authority, we’re not authorised to give you this sort of advice. Where we give providers or products a customer experience rating or a product rating, these are compiled against objective criteria, using information which has been collected by our partner Fairer Finance. In some cases, we may provide links where you may, if you choose, purchase a product from a regulated provider with whom we have a commercial relationship. If you do purchase a product using a link, we will receive a payment. This will help us to support the content of this website and to continue to invest in our award-winning journalism.
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