With the recent economic regress in almost every country, people have started to diversify there income resources and the need to rely on multiple incomes has increased now more than ever. There has been a great deal of increase in earning through online platforms such as YouTube, blogging/website, getting hired for your skills and selling your photos/videos online. But there are also many misconceptions about working online among those who are not into this mode of earning yet or have just started out. People often come towards this mode of earning due to these misconceptions. In this list, we have added some of the most common misconceptions that people have regarding online earning.
Before we begin with the list, it is to be emphasized that in no way earning online is discouraged. The idea of this article is that if you are to begin something new, you should have proper knowledge about it. People often get discouraged and leave their projects midway through often due to misunderstandings and half knowledge.
1. Instant Success
This is the most common misconception that people have about online earning. Usually, this idea is often conveyed by their friends and family who are not themselves familiar with online earning. There is no instant success in this mode of earning. People have to wait for weeks or even months before they start to get payment every month in double or triple figures.
For example, take YouTube. If you want to monetize your channel on YouTube, you need to have at least 4000 watch-hours in the last 12 months and 1k subscribers. Then you are able to apply for monetization. If approved, you start earning money by showing ads on your videos.
Let us do a quick math. Say you have 10 videos on your channel and each video is 5 minutes long. So how many people you need to reach 4000 watch-hours:
4000 hours when converted into minutes = 4000 x 60 = 240,000 minutes
How many visitors you need to reach target = 240,000/5 = 48,000
So you need 48k people who will watch at least one of your video for the whole duration. It might seem like it can be achieved in a week or so but the reality is quiet opposite to it. It might take weeks or even months depending on whether you have a social media presence for channel or not. Having Facebook page or Instagram account helps you build an audience base in the early phase and reach the target quicker.
But this was just about one method. What about earning by selling your photos and videos online? Shutterstock is one of the most famous platform where people earn by selling their stock photos and videos. Many of the successful people in this business who get to earn in four digits per month have tens of thousands of high demand images and videos. Not to mention the work that goes into arranging and planning the shoots.
Bottom line is that it takes hard work and persistence to get success in online earning methods but once money starts coming in, you might surpass your current income that you get through conventional offline methods.
2. Very Flexible
Working online is often considered to be veryyy flexible. It is sometimes believed that you can work whenever you want and how much you want. If you are not relying on your online income resources then this approach is fine. But if it is otherwise, then you have work on a regular basis. Be it on alternate days or weekly or monthly, you have to take some time out and do the work. If you see the top earners on YouTube, you will notice that they keep on posting new videos on their channels. You can also see the hard work that goes into these videos.
Same is the condition with owning a website or blog. You need to come up with articles and topics that are of audience interest and serve them with high quality data to read.
3. Everything Sells (Amazingly)
Well this is number third in our list. If a person was to say that everything sells, then it might be true. But if a person says that everything sells amazingly well online, then I would disagree with them. Let us take an example. Say if a person is making a video or writing a tutorial on "How To Drink Water From A Glass?", then I doubt that many people would be looking out for this work.
Take your own example. When you search a video or article online, you look for things that interests you. When you start typing in the search bar, it shows you possible query options. These options are those which have been in demand by many people and have high traffic flows.
Make content that interests others as well as yourself. You cannot write a good article if you are not interested in it yourself.
These were the 3 most common misconceptions that people often have when starting out in the world of online money making.
Apart from these, I would like to give you a couple of tips that will help you in this regard.
1. Consider Marketing Your Work
If you own a website, YouTube channel, offer skills for work etc. and you are not able to reach enough target audience then you might want to consider starting a marketing campaign for it. It is not necessary but it can help you reach more people quicker if done right. Depending on the business you are advertising for, you may print out flyers or run an online advertising campaign with Google Ads or Facebook. Every business has its own needs and one strategy may not be fit for all.
2. Don't Quit Your Job
My personal opinion is that never quit your current job in order to try out a new online earning source if the earning is not fixed. The reason is that there is no guaranteed time frame for monetization of your content and it may take months before you earn your first penny. Do what you can in your part time as my suggestion is to never say no to something that is guaranteed over something of which there is no guarantee.
Hope you have got an insight into some of the mistaken ideas about online earning from this article. What are the other misconceptions that you have heard of regarding it. Let us know in the comments below.
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