You can make money on your phone and solve some of your biggest financial problems with just a few good decisions. Here’s how you can do it.
How many times have you heard the phrase that you should just use your phone to make more money? While, technically, this makes some sense, in reality, you can’t just take your phone and utter – Alexa/Siri make me money.
You must find a niche, study the technicals, and put in the work. More often than not, this requires some thought and a business plan. Still, where there’s will, there’s always a way, and here are the nine most brilliant ways you can make money using your phone.
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1. Dropshipping
You don’t need actual premises to run a successful e-commerce business online. You can start a dropshipping business from your home with a potentially very modest capital. Sure, your profit margins will be quite low at first, but you can make a decent living this way after a while.
The reason for smaller profit margins is that you’re not saving money on keeping an inventory and selling at the best possible price. Instead, you’re just a middleman, and while your investments are low, your profit margin is very limited. To make up for it, you must drastically increase your trading volume.
2. Day trading
One of the things you could do is day-trade. This means buying stocks and fiat and selling them within the same day. You’re looking for small fluctuations and trying to profit from them using a great volume of trades rather than looking for one big cash out. Sure, you may not make much money, but with more trades, the profit is, more or less, there.
Just remember that, as a day trader, your phone is your main hub. This means that you need to protect it at all costs. First, you should install an antivirus for Android phones, or whichever OS you use. Second, you should never let anyone take your phone to ensure that no one installs a keylogger there. You should also avoid using these apps on public networks by any means possible.
3. Online courses
You can make an online course and sell it for a passive income, but you could also use online tutoring. This way, you’re working in the field of education, but you’re also your own boss. The earning potential can be pretty high, and after a bit of research, you’d be surprised at all the things people are willing to pay to learn.
Besides holding online courses, you can also engage in online coaching. This gives you a one-on-one approach regularly and an even broader field of topics. A lot of people do this for more than just money. Being able to help someone and assist them in shaping their future brings a huge amount of satisfaction.
4. Selling photos
You can make money online by selling photos taken on your smartphone. We’re not even talking about selling feet pics on Instagram, although this is also an option if you’re so inclined. You can just take many photos and upload them on stock image platforms. Some of these sites are specifically made for photos taken via a smartphone.
Now, there are a few things you need to keep in mind here. First, these photos won’t always be accepted. The accepting/rejecting of photos you submit happens automatically, which is why the algorithm is in charge. Sometimes, it may reject a photo without any explanation (seemingly any reason). This is why you must upload as many photos as possible and hope some qualify.
Also, here, you’re not working with quantity but quality.
5. Selling stories
If you’re a writer, you can write and publish stories online with nothing but your phone. All you have to do is write a good story, make a cover, write a compelling description, and upload it to a platform like Amazon Kindle Direct Publish.
Remember that selling a story is an art of its own. It’s a best-selling author, not a best-writing one. This alone is a reason enough to learn a thing or two about how to make a great cover, as well as marketing. A captivating description, title, and cover picture are what sells the story (despite the saying that this is not how you should judge a book).
6. Creating content
While some top content creators have huge teams of editors, multi-million dollar studios, and get paid around $50,000 a year, technically, you only need a smartphone.
Remember, the content idea sells, not the quality of the editing. Sure, editing quality is a massive plus, but you shouldn’t be surprised to learn that this is not how or why people choose to click on a video. No video has ever gone viral because it had the smoothest transitions.
Also, smartphones have many video editing apps (provided that you want to create video content). You could potentially make video content, but you could also start a podcast (that’s right, with just your phone).
7. Doing surveys
While there are wild stories about how you can make hundreds in an hour doing surveys, this is not always so. You can slightly supplement your budget, but earning $350 in 30 minutes is not really what’s happening. Also, even if you did encounter such a survey (which is near-impossible), it would be a one-time offer that you won’t be able to repeat.
There are a few caveats that you should bear in mind. First, you won’t qualify for all the surveys. Second, the majority of these surveys won’t pay too well. Third, those that pay better usually do so because they take longer to complete. Finally, you usually have to earn a certain amount before withdrawing. For instance, you might have to earn $10 or $20 before you can cash out. While this sounds easy, you would be surprised at how much it can sometimes take to meet this quota.
8. Mobile gaming
You can make a fortune as a mobile gamer. After all, games are games, and people love seeing others playing professionally. If you’re good at it, why not consider becoming a professional streamer?
You could also enroll in a tournament and aim for a prize pool. The thing is that there are a lot of great ways you can make money as a gamer, even if it’s just from professionally testing games for developers.
Remember that if you want to be an e-sports player or a streamer, you need to take this more seriously. You need to put in the hours. In other words, if you’re looking for a low-effort endeavor that will fix your finances, this isn’t for you.
9. Airbnb
Who said you can’t earn some rent money without renting out your whole home? In fact, with the help of platforms like Airbnb, you can use your property to collect money without making a long-term commitment.
Now, to make money, you need to stick to all the rental industry rules. You must make a great listing, set competitive pricing, maintain a great space, and upload high-quality photos.
You have the same type of work as with renting out the place and a slightly higher profit (relative to the staying time).
Your phone has all the earning potential you need; you just need to start using it
These are not all the ways available for you to make money. There’s much more, but the above list gives you some sense of direction. This way, you’ll get some ideas rolling, understand how to make money, and even leverage your online presence to improve your overall financial status.
Also, you must remember that you don’t have to focus on just one. Feel free to pick more than one of these methods simultaneously.