Reading the title of this post probably made you go:
“Yeah right, no one can make 50 dollars fast.”
Making money online is a wonderful idea, but it sounds a little too good to be true to make 50 dollars a day, let alone make 50 dollars an hour.
But, yeah maybe you want to learn how to make 50 dollars in an hour legitimately.
I was in the same boat years ago. I thought people who said you could make money online were a bunch of scammers looking to make a quick 50 fast bucks.
I finally decided to give a few things a try (after a lot of research) to get started, and I was actually pleasantly surprised. I was able to make a few dollars here and there.
Not quite 50 dollars an hour when I first began.
Finding legit and realistic ways to make money online and make money fast might not be as difficult or unrealistic as you think. There are plenty of opportunities out there if you just know what to look for and how to sort the fake opportunities from the real ones.
I’ve been through it over the years, so I’ll point you towards some opportunities that actually hold merit. The goal is to show you a few ways to make $50 in an hour online.
Let me also start off and say that your results may vary. It is realistic that you physically spend an hour or less completing the task and profit $50 or more for your time.
This may not always happen, but you may average this over time.
Some opportunities below might make you less than 50 dollars an hour and some might make you more. And some might not be of interest to you if you want to make $50 fast.
Let’s get you as close as possible on how to make 50 dollars in an hour.
How Fast Can You Make Money Online?
Well. It depends. Making $50 a day is more realistic if you are looking for something part time.
It depends on how much work you are willing to put in up front and how skilled you are.
I could make 50 dollars in an hour. When I first started, it was more like 50 dollars a day.
I have built a skill set that is designed to help me make money online, but it didn’t come easy. I spent a lot of time on ideas that went nowhere.
I spent a lot of time on ideas that made very little and not even close to make $50 a day.
Learning how to make $50 dollars in an hour is not too hard, but it does take some time and is not a make money fast kind of thing.
The guide below takes what I have learned over the years and distills it down to the ideas that actually work.
Hopefully this should save you some time and get you to at least make $50 a day to start.
Common Ways to Make Money Online
Below are some ways people make money online. Many people had shared different success stories about them in the past.
I have weeded out all of the crappy ways to make a buck online, so you should have a pretty good starting list of opportunities.
Stick around to the end and you will learn my favorite way to make money online all day without the need to watch videos, take surveys, shop deal sites, or playing games for money.
Hint: It is online arbitrage and there is even a free trial for an efficient software that can help you to locate potential profitable items to sell within a reasonable amount of time to sell online.
Freelancing
The most common thing people do as freelancers are writing, editing, proofreading, graphic designing, and web designing. Others may include technical design, photo-editing, and computer programming.
There are many websites where you can get freelancing jobs. The most popular include
- Fiverr.com
- Upwork.com
- Freelancer.com
- Toptal.com
- Craigslist.org
No doubt some are deserving of $50 an hour such as web design or editing.
This opportunity sounds great, but there are a few inherent problems to get started in your quest to make $50 fast.
The first problem with freelancing is that you must have the required skill. You can’t proofread a writeup if you don’t have a good knowledge of grammar or design a website if you are not a professional in the field.
It is not even only about having the required skills, you must be way better than average in it.
On popular platforms like Fiverr and Upwork, you may be competing with many other freelancers across the globe who make less than 50 dollars a day.
So you have to prove that you are better than others. But that is not the only problem.
Let’s assume you’ve got the needed skills and you can deliver without any problem, can you still make $50 an hour as a freelancer?
Fiverr, for instance, is a platform where freelancers meet job givers. You can set up an account, pay a monthly subscription, and pick up jobs.
You can do a similar thing on Upwork without even paying a dime. You will only be charged 20% of whatever income you make on the website.
These are good places to make a regular income and people are making pretty good money on the website every minute.
If anything these are a step up from having to watch videos & take surveys on survey sites. You can take online surveys, but risk becoming a survey junkie. Or you can do some more engaging work like above to get paid.
Becoming a Virtual Assistant
Virtual assistance is similar to freelancing. You can get a job as an assistant on freelancing sites like Upwork.
As a virtual assistant, you may be required to read and respond to emails on other people’s behalf.
You may also write proposals for your clients or help in data entry. This may not require much skill and anybody should be able to perform it.
But if you are looking for an instant and regular income, don’t go there. Your client may likely want to treat you like a normal employee, hence, paying you on a monthly or weekly basis.
It is possible to earn $50 an hour doing this but it may take a long time to earn this type of gig.
Most of the people hiring VAs are looking for cheap labor and aren’t willing to pay high dollars or $50 an hour. You would need to really separate yourself to earn $50 per hour.
Helping Students with Assignments
If you are a professional teacher, this might work for you. This job requires relevant skills and knowledge. Once you have relevant academic knowledge, there are many websites where you can be assisting students to do their assignments.
It is an aspect of freelancing and everything associated with freelancing is also applicable to it. You need to have the specific knowledge required and also impact the knowledge well so that you can get good reviews from your clients.
It also means that it may take time before you start to earn money and get regular gigs. Again, this is not a way to make money fast. Patience will help you to earn some extra cash with the time you put in.
Affiliate Marketing
Affiliate marketing is also a good way of earning money online. Many people have made hundreds through this business model.
As an affiliate marketer, you can sell everything without producing anything and get some sweet cash back and quick cash.
Among the popular sites for affiliate marketing are Amazon and Clickbank. Before you can make it big in affiliate marketing, you must be experienced in generating traffic on your website.
You can’t get that overnight.
You need to gradually build the popularity of your website.
These sites are semi-passive, but it did not happen overnight, so by no means is it a quick cash. Traffic to these sites grew with continued effort and dedication throughout the years.
Making Money from YouTube
YouTube channel gives you another chance to make money. It can be used to sell products or market other people’s products.
Another opportunity to earn on this video channel is through affiliate marketing when people buy products by clicking on the product link from your YouTube channel. Apart from all this, if you have really good content, you can make money from the advertisements on your YouTube channels.
Before you can turn your channel into a money-making channel, you must first have a significant number of followers.
As a beginner, you can’t get those large numbers of followers overnight. It once again takes time and commitment in order to build the audience and start monetizing the channel.
Online Arbitrage For The Win
Online arbitrage involves buying products from retail stores at discounted prices and then selling them online for a profit. This business takes advantage of the difference in prices on different platforms or stores to make profits.
We have a full guide here if you want to jump from the cliff notes to an epic guide.
In this business, you choose an item that can sell fast, buy it from an online store at a lower cost, and list it for sale on another online marketplace at higher prices.
Online arbitrage will certainly yield a profit on a regular basis as long as you choose the right items. The problem with this is that it might be laborious to manually search for products that will sell, where to buy them, and where to sell the product. This is what turns most people away from starting online arbitrage.
This is where Tactical Arbitrage really shines and will help you get a leg up on finding profitable products to sell. The software will compare prices from different stores like Walmart, Target, and many others.
Let’s discuss more details about online arbitrage and how it works.
How to Make Money Through Online Arbitrage Via Selling on Amazon
Online arbitrage is the practice of finding items at a low selling price in one marketplace online and selling them for a higher price on other online marketplaces.
It’s almost identical to the process of retail arbitrage, but it is not limited to a geographical location or clearance section at your local Walmart retail stores.
You can find an item on Walmart.com for $30 and sell it for $70 on Amazon. Essentially you are speculating on the marketing.
Finding these deals manually can take hours.
You have to find a site to source from and then compare it to Amazon. After you do this, you need to see if the item has a good sales history and if you stand to make a profit. After all of this is done, you order the item, send it to Amazon, and wait for a sale.
It’s a little more involved then the other methods listed above, but honestly you can streamline the process to make it easy peasy. Online arbitrage seems complicated, but it is actually a walk in the park if you have the right tools and system in place.
Register an Amazon Seller Account
One important part I have to mention is the process to get your flips listed on a marketplace.
I am assuming you want to sell on Amazon. Of course, that is the best platform to launch your online arbitrage business as there are millions of potential buyers waiting for you on there.
Before you can sell anything on Amazon, you must create a seller account. You can either go for the Amazon individual seller account which is a free account or the professional seller account.
The Richies Are In the Niches or Are They?
That headline almost made me gag, but it holds some value when you think about it.
When it comes to online arbitrage, you can buy and sell anything and everything. There is no limit to what you can buy and sell when it comes to online arbitrage. However, many people prefer to specialize in a particular niche. I tend to tell new sellers to be open for all opportunities, but I understand the value of a niche.
The good thing about online arbitrage is that you don’t need a particular niche to focus on. I would still advise to start with something you are familiar with as there are a ton of choices to dive into.
Maybe you love clothes, so you start with using Tactical Arbitrage to go through some clothing categories and stores.
Tactical Arbitrage makes it easier by comparing product prices and sales ranks for you and helps you to make better, informed choices of products to buy & sell.
Decide The Price Range
You want to make $50 in an hour right? You won’t make that if you are only making a dollar on each product you sell.
What about making $20 to $30 on each product, then you will only need to sell 2 products in one hour and make $50.
Depending on the sales velocity it could take you hours, months or days to sell 50 of them. Sales really pick up during the holiday months or the 4th quarter of the year (Q4), so it is not unheard of to sell 50 things in a day for some products.
You must also remember that there are other fees associated with selling on Amazon.You can find out the exact profit by using the Amazon Revenue Calculator.
Starting out, it is advisable to select products that are selling for $20 or more. This keeps you in the correct profit range and gives you some easy marks to check when sourcing items.
Choose Items That Are Selling Fast
You want to make sales and earn a profit every hour. Hence, you must go for products with high demand. Depending on the number of items you plan to deal with, you must decide the minimum amount of sales you want to make per month.
How do you get this?
Of course, you cannot totally determine the number of sales you will make on a product in a month, but you can get information about the sales history of the item.
It is advisable not to go for any product whose records show less than 5 sales in a month unless there is a huge profit.
For instance, If you have 20 different products that are selling at an average of 6 units per month. Then you can predict an average of 120 sales in one month.
That is equivalent to the sales of four units per day. Thereafter, you can do a further calculation to check if that will give you the desired profit you want to make in an hour.
If not, you might need to increase the number of products you are dealing with or rather switch to selling more profitable products.
Start Selling
This is the final step. Start selling and make your profit. You already know the buying and selling procedures. After choosing the products, buy them and send them to an Amazon FBA warehouse.
How Tactical Arbitrage will Help You Make $50 An Hour
As mentioned earlier, Tactical Arbitrage is a seller-friendly software that searches through different stores, compares prices, and selects products suitable for gainful online arbitrage.
Making good sales depends so much on making good buying decisions. Tactical Arbitrage will provide you with all the data and analysis that are needed to make informed decisions as regards online arbitrage.
You can customize the software to meet your own goals and requirements by setting your upper and lower price limits, your desired profit margin, and other factors or criteria you want.
Basically, the software performs the following functions to make your life a lot easier. Let’s look at a few ways it does that:
Price Comparison
Tactical Arbitrage will search through different stores and compare prices. With this software, you will be able to tell which stores sell a particular product at a lower cost and the ones that are relatively expensive.
Remember, the goal is about buying products at cheap rates and reselling them at higher prices. The software does the searching and comparison for you while also recommending online stores where you can buy products at reasonable prices.
This tool can search through most of the available online retail stores in no time and come up with stores with the best offers for a gainful online arbitrage.
Remember you can customize the features and searches on Tactical Arbitrage as much as you want. You can even set the minimum and maximum value for items to search.
The software works based on the settings or criteria/range you input, thereby making the tool very user-friendly.
Checking the Profit Margin
After comparing the prices, the software will also calculate the profit margin of the products for you. This way you can easily predict what you will gain when you resell a particular item on Amazon.
The profit margin is not just the difference between the buying price and the selling price. It also considers the commission and the flat rate fees charged by Amazon. Shipping cost is also included where necessary.
All of these factors will affect the profit margin attainable. Tactical Arbitrage will display all of this data for you to sort through. It can help filter out certain margins or sales velocity you want to attain.
You will even get the actual net profit after all costs & fees to know what your profit is.
Sales History
To predict the expected sales for a particular product, you need the sale history of that product you want to buy. Tactical Arbitrage will provide this data for you for you and even has a nice little chart to visually inspect.
After searching through different stores, it will show you the sales rank data for a particular product on Amazon including the buy box price for the same product.
This will help you to predict the expected sales for a product so that you can choose a product that will sell fast and yield a nice profit.
You can also set a minimum sales rank for products search on Tactical Arbitrage. Any product that does not record as many sales as you want will be filtered out.
Competitors’ Stock Analysis
You need to know how many people are selling a particular product you want to sell on the Amazon platform. This will inevitably affect your sales on that product.
You don’t want to go into a business that is too competitive. Therefore, you need to have an idea of how many people have already stocked the same product you are planning to buy and resell.
Tactical Arbitrage will analyze the competitors’ stock for you and also show you how this will affect your sales. This competitor analysis feature really makes this software priceless.
From that information, you can come up with a final decision whether to go ahead with stocking that same product or opt for a different one.
Final Thoughts
Making $50 an hour online can be done with the methods we presented. None of the ways are “Get Rich Quick” schemes, but viable options that you can do if you put in the work..
As you can tell, I love using online arbitrage and I love and using Tactical Arbitrage to help me find profitable products to flip. Tactical Arbitrage will provide you with all the data and analysis you might need to make your online arbitrage venture a success.
Check out the software now with a free trial here.