Myths about earning money online

By Louise Chan

October 17 2019
Share

There are many opportunities to earn money online, but there are also myths that prevent people from increasing their earning potential.

Below are some myths that people respond with when discussing online earning opportunities.

You can get rich quick online

A lot of people who consider replacing traditional employment with online work think that they can get rich quick online. In most cases, this myth continues to make its rounds due to influencers who seem to make a lot of money online just by posting some photos and getting likes and shares.

The truth is that people who become successful online deal with many behind-the-scenes work in order to capture and get paid for that one “perfect” shot.

Many have tried to be the next big influencer in order to secure six figure contracts, but success can be elusive for some.

The internet may offer many opportunities to get rich, but you may need to increase your efforts, work smart and prove that you have an edge over the others.

An online business will considerably free up your time

Some may think that having an online business means that processes are automated and the owner will have more free time to do whatever they want. However, this isn’t necessarily the case.

Just because some businesses quickly become successful online doesn’t mean it’s easier to manage. For some, an online business may take up more time to manage compared to a 9-to-5 desk job.

To build a successful online business, you may need to dedicate a lot of time in managing it. Likewise, you constantly need to improve your products or services to capture the attention of potential clients.

Building a business requires time and money regardless of the business model you choose.

You can start earning right away

You can start working from home and begin earning immediately if you are contracted as a part-time or full-time remote employee by a legitimate client. For instance, a client may pay you daily to be their virtual assistant for a few hours.

Some people also think that they can earn money faster if they quit their day job, but their finances may be compromised if their online business doesn’t take off. Despite the speed of information over the internet, it may still take a while for an online business to flourish.

There are some opportunities that would allow you to earn “right away” by answering surveys or completing an action. However, your income is usually locked in the platform until you reach a minimum amount – and only then can you withdraw the money you “immediately” earned.

If you decide to start a blog, build a website or open an online business, it usually takes a while before the money comes in. Even when you earn through affiliate marketing, you would still need to wait for your audience to complete an action before you receive a commission.

You need to be tech-savvy to earn online

You need a certain degree of technical knowledge to work with computers and do anything online, but being an expert isn’t necessary to get started.

The important thing is to keep on developing your skills and ensure that your business improves along with advancements in technology.

You will have many competitors online from all over the world. Stay updated with developments and make sure to keep up with the changing demands of your target clients.

It’s all a scam

The internet is a large place where different types of activities can be done. But even if thousands of people fell victim to scams, there are still many legitimate ways that people make money online.

For instance, you may consider sharing your expertise through a monetised blog – a way to accumulate passive income through ads. You may also produce and sell premium content, such as ebooks and video tutorials.

However, make sure to scrutinise an opportunity if you will rely on other platforms to generate income. As the old adage says: if it looks too good to be true, it probably is.

About the author

Louise Chan

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

About the author

Louise Chan

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

sections

sections

sections

sections

sections

sections

sections

Earn