Do you want to make $20,000 a month?
That’s a lot of money.
And if you’ve got this kind of money every month, then you would’ve generated a grand total of about $240k a year. In 5 years and with a very thirty spirit, you can become a millionaire.
I’ll be honest with you; it’s not very easy to start generating up to $20k a month. If you’ve read that it’s easy from any other source, legitimately, please disregard. Sometimes, it takes years to start generating figures like this every month especially if you’re starting from ground scratch.
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With that said, making $20k a month is still possible depending on what you choose to do and how you choose to do what you do.
This isn’t a motivational blog post on how to make money, but here are some really active ways to start.
Look them up.
How to Make $20,000 a Month: 15 Proven Methods
Start a Podcasting Channel
If you want to learn how to make $20,000 a month, it can happen with podcasting. But I’ll be honest with you; it’s not very easy. In fact, podcasting isn’t for everyone.
And while I might suggest you start making money with a podcasting channel, you need to figure out what line of online venture you’d like to cruise on based on the nature of your personality.
Podcasters basically run audio blogs.It’s a genre of blogging, but just for audio content. So, you need to love (or like) talking to start a podcasting channel on the internet. For me, I love writing. And talking too. But I pick writing first.
I might dabble into podcasting some time in the future. But at the moment, it’s just writing. However, you’d need to learn how to grow a podcasting channel and how to make podcasts consistently if you’re looking to make $20,000 dollars in a month. It doesn’t happen overnight. The earnings will start trickling in with time.
Launch a Blog
Like I admitted, I love writing. And since I made $3 dollars in my first month of writing, I haven’t looked back. In my hometown’s currency, it’s about 1,500 bucks. And since then, I’ve earned enough money from blogging to cater for my monthly needs and live above standard life (as a single guy).
I earn over 140,000+ now in my country’s currency. However, your case could (and will) be different. You might make $1,000+ in your first month, or become a $10,000-in-my-first-month-of-blogging “blogger”.
Or, make $0 in your first 6 months. It depends on how you start blogging. Whatever you do, I can tell you first-hand that you can make $20,000 a month blogging. A lot of bloggers are making so much more than this every single month.
I’m not quite there. I’m not 2% there yet. Some of them I really admire and look up to virtually include:
For the record, they’re all mega blogs doing over $20,000 dollars per month with one or more blogs.
The truth is, they didn’t get there overnight. It took years. And it’ll take years to consistently generate over $20k per month blogging. Some bloggers never get to this point.
With consistency, you can.
If you’ve not started blogging yet and you’re willing to start now, I’ve got the perfect guide for you. Check it out.
YouTube
On YouTube, you can create a channel and produce content consistently. Once you start getting traffic to your channel and the traction starts turning in, you can easily monetize your YouTube channel with YouTube display ads, affiliate marketing, or by selling your products or courses.
However, it doesn’t happen in 24 hours. It takes some time for YouTubers to start seeing inspiring results from their upfront labor. So, if you want to make $20,000 dollars a month with a YouTube channel, you’d have to focus on a niche and produce the best videos in that niche.
Forget about producing quantity, prioritize quality at the beginning. Running this path of producing video content, you’d need to either learn video editing and production for yourself, or hire a professional video editor.
Amazon FBA
Amazon FBA is a business model by Amazon where retailers and wholesalers are able to ship their products to Amazon. The ecommerce giant sells off their products and keeps a fee either monthly or per transaction.
However, the average Joe can take advantage of this opportunity to make money.
What’s the deal?
Find products that you can buy in bulk at a cheap rate and sell them at a moderate price on Amazon. For example, you can buy beauty products in bulk for about $15,000 dollars, 1,071 units of them, and resell them using the Amazon FBA program at $20/unit.
At the end of the day, you’d get to keep a gross profit of $6,000 dollars. If you can find the right product to ship to Amazon, then you can consistently make money as an Amazon FBA agent. And yes, up to $20k/month, depending on the quantity of profitable Amazon FBA viable products you can lay hands on.
Dropshipping
Dropshipping is similar to e-commerce, but it’s simplified. How it works is simple. You create an online store and then connect your store to another original online products supplier or e-commerce store like Walmart or AliExpress.
Once that’s done, you can easily import products to your store and add more numbers to the original price on the stores.
Sounds easy right?
It actually isn’t.
To make $20,000 dollars a month with a dropshipping store, you’d need to understand the basics of successful dropshipping and how to get started on the right foot.
Barbering
If you’re a good barber, you can definitely start a barbering salon like Birds Barbershop or The Argyle League, Austin TX. Won’t be cheap to start up something like this for real, and you’ve got to start off from a commercially favorable location.
It’s a physical business, so you want to make sure you’re in sight at all times. Your business isn’t hidden; it’s a quick way and a natural way to get patronage.
If you cut for $50 per client, you’d need to have just about 400 clients a month to gauge $20k. If you hire more hands, like recruiting 3 professional barbers to handle the business while you work on something else, it’d be easy to offer more services and make more money.
Maybe you won’t make $20k/month barbing. Maybe you’ll make more. It depends on a couple of inconsistent factors. Things like the size of your salon, the location, how much you cut, and the city you’re in.
Grocery Store
It’s expensive to start up something of this fashion, but then it’s one way to make up to $20k a month. In reality, it takes time, capital, effort, and even more resources (beyond physical), to erect a standard grocery store. And you can’t be wrong with this decision.
People need grocery stores. They’re almost irreplaceable. And if you can start up one, then you’d be generating passive income steadily. Depending on the size of your store and the location, you can expect to make as high as $14 million dollars a month.
Okay, that’s according to research by Zippia. But for a small store, a gross income should fall between $5k to $40k. The more favorably situated your store is alongside the size, the more money you’d be able to realize overtime.
E-commerce
Just like Amazon and eBay, you can also have an online store to sell products you own and don’t own. You can start an online store of your own, market it well enough to get visitors that you can turn to customers.
However, you’d have to configure the offline aspect of running an ecommerce business if you’re dealing with physical products. If you plan on selling just virtual products, it’s less stress and potentially less profits. The bottom line is; e-commerce is one way to make $20k dollars a month.
Realistically.
It’s not that easy.
Course/Products Sales
Selling a course is another way to hit $20,000 a month. If you’re good at something, you can write a course about it with the help of platforms like Thinkific, and market your course using social media, web magnets like blogs and YouTube channels, or course libraries like Udemy. The first thing however is to think about a course you’ll be creating. It’s a linear but sophisticated path bedaubed with research and analysis.
Of course, you’ll be doing some analysis of the courses already existing to see what could make your course stand out. And also, you’d be embarking on a research to know the exact title for a course that would gain traction and stay relevant.
The more relevant a course you publish for people to buy, the more money you’ll be able to price it at. Again, you’d have to learn the art of copywriting and digital marketing to increase sales by increasing conversion by conviction.
Affiliate Marketing
Affiliate marketing is simple, and a lot of people are making money on the internet with it. And when I say “money”, I mean every figure from $1 to $1 billion. Some are earning enough to get a cup of coffee a month. Others, enough to buy a Grand tourer every other month. Indeed affiliate marketing is one of the ways to make $20,000 dollars a month.
It’s all about selling other people’s (and company) products to get commissions in return after successful sales. The commissions vary, and so does the price of these products. Basically, you’d want to sell expensive products with high commission rates to make a lot of money with a few sales.
For example, if a product is worth $2,780 dollars with a 35% commission rate, this means you’ll get $973 dollars for every sale. You just need 21 sales a month to make $20k+. Learning to do affiliate marketing the right way is perhaps the first step.
Book Publishing
If you’re an author, you can write a book to make $20,000 a month in sales. But for your sales to peak this figure or any five figure at all, the book must be one of a kind; genuinely good. Writing a book out of the blue without research wouldn’t really get much traction unless you’re already a name in the book publishing space and you’re a voice in a niche. If you’re just a random writer, it’ll be more challenging.
With all odds in your favor, you can decide to make money at will by writing books at will. It’s easy. Get familiar with the publishing process, have a team of writers or co-authors, and write a book one in a quarter consistently for a year.
Good books are traction magnets, but also employ critical marketing strategies to promote your book. The goal is to make money. So, capitalize on a more business-like approach to publishing books versus the passion-infused counterpart.
Digital Marketing
Digital marketing is one of the real ways on how to make $20,000 a month. And there are several branches of digital marketing. Depending on where you area of strength is, you can work for topnotch clients online and remotely to get paid more than $20,000 a month.
The kind of clients paying around this figure for freelance, remote or contract digital services aren’t startup clients. They’re mega individual or corporate clients. So, you’ve got to be good at what you do. And getting a remote digital marketing job is one of the ways to make this happen.
As a digital marketer, you can delve into social media marketing, conversion optimization, product lead generation, web traffic generation, social media advertisement specialization, search engine optimization, content marketing, and a lot more.
It’s a broad field. And you’re the asset in this scenario.
Freelancing
While it’s possible to make money off freelancing every month, $20,000 dollars could be one really challenging number to hit every month. It’ll take time honestly, and you’ll need to be consistent at this.
To make $20,000 a month freelancing, you’ve gotta be in a lucrative niche like the IT niche; programming and web design. And the income wouldn’t be passive either. So, you get started as a freelancer selling your services or skills to clients who are in demand for them.
It’s free to start a career in this path, and you’ll need to focus on getting the best gigs on freelancing platforms like Fiverr, Upwork, and Guru. It’s fairly easy to make $1,500 per month with a part-time approach to freelancing. But for $20,000+ dollars a month, you’d need to be consistent.
House Flipping
In the real estate world, flipping houses is a common activity for game changers. And this is one of the things you can do to make a steady $20,000 a month. If you have the capital, you can simply acquire a property, renovate it in the timespan of one month, and resell it within the same month. It’s challenging to do everything in one but. But you could if you find the right property early into the month.
Or in the first 10 days in a 30-day month (or timeframe). For instance, you can acquire a property at $80k, renovate it (and spend a grand total of $95k including renovations), and then sell the property for over $140k.
It makes sense.
It makes a lot of sense.
It also doesn’t make sense because there’s a chance you’re never going to have these numbers as they are. Your numbers could be different due to several variables. And factors.
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Online Trading
Last but certainly not the least idea on this list of the best ways on how to make $20,000 a month is to trade the online markets. This is something that you can do from home, while traveling or while even at your full-time job.
While there are several markets online to trade, you’d want to stick to a few of them like the stock market, options market, and Forex. You can add crypto to the list due to its volatility and profitability. Trading online, you can generate much more than $20,000 dollars a month.
If you’re trading with a capital that’s much fatter than $20k, there’s every chance of making this in a week or a couple of days just by opening some risky and aggressive trade positions. Taking a peep at the dark side of things, you could end up blowing your trading capital, hence, the need to learn thoroughly before opening any live trading account.
You can also choose to focus on one market like Forex alone or crypto, establish a foothold there and trade profitably in the long run. The size of your profit will largely depend on the size of your trading capital. Not entirely, but largely.
How to Make $20,000 a Month: 15 Proven Methods – Summary
In reality, some of the best ways to make $20,000 a month include starting a podcasting channel, blogging, house flipping, freelancing, digital marketing (professionally), book publishing, affiliate marketing, doing Amazon FBA, starting a YouTube channel and monetizing it, ecommerce, dropshipping, barbering, grocery sales, course sales, and trading online.
While some methods are more effective than others, it doesn’t obliterate the possibility to make $20k a month with every single option here.