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How to Make $500 a Month With an Online Business

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How to Make $500 a Month With an Online Business
Photo by Carlos Muza

Use your passion to create another stream of income!

There is no doubt in my mind that online business is here to stay and that it is also a tremendous opportunity for the everyday person to create another stream of income in their life. In my latest video on YouTube, I show you how I have been able to take my interest, skills, and passions and merge them together into my business in a way that has allowed me to create something that changes lives and I believe you can do the same!

Two years ago when I started my project “Greatness Every Day”, I had no clue how to edit a video, build a website, and I did not share my opinions on topics very much. Now, part of my reason for creating content for Greatness Every Day is to inspire growth in my own life, and I have to say that I never thought I would be able to do the things I can do now. In fact, this website you are reading this article on only took me a few hours to build, but that would never have been the case if I didn’t follow the steps below to grow my online (and now offline) business to over $500 a month and my hope is that they will help you do the same, but only faster!

My five tips to grow your online business to $500+ a month are:

1. Know WHAT you want to create and WHY you want to create it – Being able to know what you want your online business to look like before you begin is an important part of its success. Getting clear on this allows you to take specific steps to achieve your long-term goals instead of wasting any time. It is kind of like taking the shortest, most-direct path to something, rather than walking around looking for it. Understanding why you want to create an online business is another important thing to do because it creates the motivation to put the work in regardless of how you are feeling, if it is a glamorous task, or something. Knowing your what and your why is a dangerous tandem for making big moves!

2. Commit to learning the skills – Before I monetized my online business, I dedicated two years to learning. My sole focus was to learn the skills, mindset, and attitudes I needed to become a better person, grow my brand, and put myself in a place of creation. This has allowed me to develop an idea and make it come to life because I now know how to create tools like a YouTube channel, website, podcast, etc. and I do not have to wait to learn them, or hire someone else, unless I choose to. I believe this is one of the most powerful steps of this process because it reveals how committed someone is to their cause.

3. Plan out your content – Scheduling and planning out my content has lead to growth in my online business because I am able to create a vision and content that is thematic, purposeful, and provides the audience a lot of value. Even taking 5-15 minutes to plan out your content for the week/month can have a big return on your time investment.

4. Stay consistent – Consistency and improving yourself and your business by 1% every day is the mindset needed for digital entrepreneurs. By envisioning a long-term plan and splitting it up into small, actionable steps, you are going to be able to show up every day and make your vision come through. I like mapping this out with a digital planner because it allows me to see the tasks that I have to complete for each day and week, as well as easily restructure it when I need to.

5. Have a monetization plan – After the first four steps are in place, it is finally time to monetize your online business. After a few months, I had grown my business to $500 a month with 90% of that coming from advertisements not costing my audience anything. I created my monetization using a triangle that has my free and lower-cost products and services at the lower end of the triangle, and the products increase in cost, value, and access to myself as you go up the triangle. I am easily able to check-in with my plan and see what I have completed and what is left to complete.

These are my five steps to make $500 a month with an online business and I know they will help you achieve success even faster than I did if you stay committed to the process. Feel free to let me know what tips you used to grow your business in the comments below and watch the full video on our YouTube channel here.

 

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