How To Make Your First $5000 Online (6 Ways)

here lots of people online talking about how to make your first hundred thousand dollars or how to make your first million online and I get it it can be intimidating it's like telling somebody it's easy to plan a trip around the world when maybe they've never left their home country or sometimes their Hometown so in today's video I want to lay out a plan with you on how you can make your first five thousand dollars online and I want you to leave this video with this step-by-step guide that actually works but before we dive straight in there is something really important that I want to make sure I clarify from the beginning we are going through right now is literally like having invented cars trains planes rockets and spaceships all at the same time it's massive look we are in the middle of the new digital economy and as we speak over 15 billion dollars is being made online every single day let that sink in over the next five to ten years it is expected that 70 percent of the global economic value is going to be made online do you know what that means well it means that right now there is a bunch of teenagers and 20 year olds that are getting paid to work online as much as an engineer or doctor or a lawyer so if you're not making money online then not only and I'm really sorry to say this but not only do you not have any excuse because with the tools and the resources that we have available today you literally have everything you need but also you are missing out on the opportunity of a lifetime so look if you clicked on this video it's probably because you don't want to be left behind probably because you also want to make money online and take advantage of this new digital economy and there's lots of people out there myself included that have pitched you the next the best the shiniest the newest the fastest way to make money online and I get it it's probably tempting to just jump have first either for fear of missing out or for the Mirage of the monetary compensation that seems to be possible now what if you decided to take a step back and instead of wasting the little time that you have or spending the hard-earned money that you've been able to save so far on the next shiny object what if you took a step back and decided to assess at least the top categories and big types or ways to make money online to figure out which one should you actually spend your time or your money on and not struggle to make work something that was bound to fail to begin with so why don't we do this together let me walk you through the main categories of how you can make money online and let's analyze together which one is the right one for you I've not only done most of these myself over the last five to eight years but also I have coached or consulted people or companies who have actually done all of these so I'm talking from experience okay so in my opinion there are seven key metrics that you want to keep in mind when analyzing these big categories of ways to make money online number one is time to Market and this refers to how long does it take you between the moment when you decide to do whatever that business is until you're ready to launch it sometimes it takes very little but sometimes it can take a long time number two is your path to revenue or monetization and you might be wondering isn't this the same as the time to Market well it's not because there are business types business models where you're ready to launch but it takes some time until you're ready to monetize so we're gonna look into how long does it actually take from the moment you've launched till the moment you are likely to monetize number three is your seed Capital so here here I'm talking about your initial investment how much money do you have to put down in order to get started with each of these business models number four is your expected return and we're gonna have a big goal of five thousand dollars but we're gonna need to break it down into unit Revenue so how much are you going to make per hour per product per service depending on the business model and the next one makes sense as well so that's the sales volume goal and that needs to go hand in hand with the previous one because sometimes depending on the price point that you're selling at you're gonna need to go for a huge volume or you could sell just one product the sixth criteria I'm calling it operational effort but you can think of it as your effort to deliver how hard is it to actually deliver the type of goods or services that you want to get involved in and that relate to the business model that you've selected and the seventh one the that is very frequently overlooked by many people when they jump into ideas of making money online is barrier to entry and here I'm talking about how hard is it to get started versus how competitive that industry that Niche actually is because oftentimes if it's a niche or an industry that is very easy to get started in it's probably also going to be highly competitive and it'll be a lot harder to succeed in so we're going to analyze through this lens as well alright so if you guys are ready I want to challenge you I want to do this almost like a treasure hunt where you pay attention until the end of the video and try and spot the different distinctions that I'm going to lay out for you in order for you to be ready to pick the business model the business idea that suits you your personality your preferences and your skills the best Okay so let's get started with business model number one this one I actually started back in 2015 and when I got started I thought it was going to be the next big thing for me and I'm showing you this because this is one of the products that we looked into at that time and yes I'm talking about e-commerce so we started a shop back in 2015 together with my husband where initially we looked to sell Office Products and interior design and then we ended up selling laptop stands and phone charging stands now what does it mean if we look at e-commerce through the seven criteria that I just laid out number one it is probably one of the business models with the longest time to Market and the reason why I'm saying this is because it'll take time first of all to pick the product that you want to go to market with and the first product is always the hardest because you don't really know what you're doing unless you want to spend a lot of money learning from people who've done it before but even if you do which I did back then you are put in front of this huge database of products and you basically feel like you're trying out your luck or you could pick based on your personal preferences either way it still feels really really mortifying when you pick the product that you actually want to go after then you need to find the supplier that is actually going to produce that whatever product you've selected and ship it for you and that can take a while and the reason why I'm saying this is because yeah it