Figure 1: Make money online
With the rampant increase in unemployment that we are currently experiencing in Zimbabwe, more people are trying to have a reliable income and improve their lives. There is a lot of despair among unemployed youths because most of them cannot find a job to uphold their livelihoods. There is, however, a lot of hope for youths and older generations because they can actually earn money online because of the technological advancements and globalization which have united the world into one through the internet.
There is a common misconception in Zimbabwe that everything that is done online is a scam and also a get rich quick scheme. Contrary to those beliefs, making money online is very possible, but it requires hard work just like any job out there, and those who put in the effort have the potential to earn thousands or even millions per year. The best ways that l recommend for people to make money online are affiliate marketing, drop shipping, creation of YouTube videos, testing or reviewing websites, tutoring online, forex trading and freelancing (freelance writing, graphic designing, etc.).
1. Affiliate Marketing
Affiliate marketing is basically promoting other peoples’ products and in return, the person promoting the product earns a commission on every sale. There are websites that are specifically designed for affiliate marketers to promote various products online. Examples of these websites are Digistore 24 and Mylead.
The noble thing about the afore-mentioned websites is that they accept Zimbabwean citizens. In addition, they offer visa card bank transfers as a payment method, so people do not have to worry about not being able to receive their money. Other affiliate marketing websites for example click bank do not accept Zimbabwean citizens, so it is always important to check national eligibility on affiliate marketing websites.
The best way to make good money from affiliate marketing is by creating a blog or website where you post content that helps people with various problems, for example creating an article on how to lose weight. The affiliate link which directs the reader to the weight loss products you recommend can then be posted after the content. The reader can then decide if they want to buy the product or not.
In simple terms, the drop-shipping business involves buying products from a third party and selling them to a customer without stocking them. It is essentially a retail business that does not store inventory and is conducted online. The products are directly transported from the third party to the customer without the drop shipper touching them. The customer places an order from the drop shippers’ online catalogue/ store. The drop shipper then arranges for the product to be shipped directly to the customer.
This business model is the one used by the so-called ‘runners’ who source products from China and deliver them to people in Zimbabwe. There are several advantages of this business, for example, it can be started with very little to no capital because the product is only sourced from the third-party/ wholesalers upon payment by the customer. In addition, it can be done from anywhere and a wide range of products can be sold using this method for example groceries, hardware and cars.
3. Creating YouTube videos
There has been a rapid increase in using YouTube over the past decade, as more people now prefer videos over the conventional reading methods for learning new things. This boom in using YouTube creates a unique business opportunity for extroverts who are comfortable posting content on social media and they can easily cash on this opportunity by creating viral YouTube videos.
People can make money from YouTube by creating videos that help people, for example videos on solving health problems which many people face. Examples are videos on how to lose weight, how to get rid of pimples, and how to get a six-pack. The more views a YouTube video gets, the higher the number of advertisers who will want to advertise their products on that video and this results in more money being made from that video.
4. Testing or reviewing websites
There are several companies that pay people to test if new websites and applications they want to introduce into the market work out perfectly before they can launch them officially for use. Example of websites where people are paid to test new websites and applications are Utest, Tester IO and Testbirds. These websites support people with a Zimbabwean nationality and have Payoneer as one of their payment options.
Therefore, people do not have to worry about not getting their money. Being a tester requires patience to learn how to identify problems or bugs in applications. The more bugs that a tester correctly identifies, the higher their chances of making good money from this career. Testers can make as much as US$500 to US3000 per month if they work hard enough.
5. Tutoring Online
Many schools have been closed because of lockdown worldwide, and this has increased the demand for online tutoring services significantly. This has resulted in an increase in online tutoring websites, where people can potentially earn a lot of money. Examples of these websites are chegg tutors, preply, solution inn and course hero.
Good tutors can earn from US$200 to 1000. A strong work ethic is required to excel in the field. Science subjects and English are the most popular on online tutoring platforms. There are tests that need to be passed to be eligible as a tutor, so it is important to be thoroughly prepared for these.
6. Forex Trading
There is actually a lot of money that can be made from legitimate forex trading contrary to what many people believe. Many people think everything associated with forex trading is a scam. This is because many people get involved in the get rich quick investment schemes that are rampant on social media such as WhatsApp and Facebook.
People who want to make money from forex trading need to do a lot of research by reading books. They can then develop a long-term strategy to achieve consistent profits in the long run. There are legitimate millionaires from forex trading, for example, Jabulani Ngcobo, therefore, this is definitely a proven way to make money online.
To get into forex trading, there is a need to find a certified broker and open an investment account. After that, the account must be funded with foreign currency (which is usually in US dollars) through a visa card or MasterCard. A trading interface must then be chosen, for example MetaTrader and finally, trading can start. I should however be noted that scammers are also active on the lookout to deceive many, hence the need for through research before committing any funds.
Freelancing can be defined as working independently or being self-employed. There are various skills that are highly demanded on freelance websites, for example writing, transcription, proofreading, translation and virtual help.
The best websites that l would recommend for people who want to freelance are Freelancer, Upwork and Fiverr. This is because those websites have been tried and tested for over a decade and are reliable with payment for work done.
To make good money as a freelancer, one needs to build a strong profile and market his/her work to as many people as possible. This is because the freelance world has fierce competition and a bidding system is used to get clients. Therefore, it is important to build a strong profile and getting recommendations from the former client helps a lot in getting more job offers.