Are you looking for the best and most realistic ways on how to turn $2k into $10k? This article has got you covered. It’s not as easy as you think, and there are risks of losing your $2k. But with more chances of turning it into $10k. First, you’ll need to have up to $2k dollars.
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With these strategies, you can turn any amount of money into anything. Or into double of what it is. These strategies are realistic, and they work. They’re not entirely risk free, but you can mostly be on the winning or favored side with all things in the right place.
How to Turn $2k into $10k in 8 Sure Ways.
1. Promote a product online.
If you want to learn how to turn $2k into $10k, then promoting a product online is one of the most realistic ways to go about it. It could be any product, as long as you find the right audience, you can make a ton of sales with a single product promotion. If the product is worth a lot of money, then it’ll be easier to make more with a few sales. Let’s say it’s worth $500 dollars, you need just 20 sales to hit $10k. With that said, you may not hit 20 sales with one promotion campaign.
Hence, you can promote, see what works and keep doing it to see how much results you get with what strategy. If you’re not great at running social media ad campaigns, then you can hire someone to get it done for you. Of course you’ll be spending from the $2k you’ve got. With that out of the way, you can make tons of money selling products online using paid ads on social media to boost exposure.
2. Scale an affiliate product.
Quite different from the first idea is to sell affiliate products online. This time, you won’t be getting the total amount of money or the cost of the product to your pockets. You’ll be earning commissions. This is a good thing because it’s not a product you created or spent anything to build. It’s an already made product. Let’s say you’re promoting an affiliate product worth $1,000 dollars on social media, with a commission rate of 20%, you get $200 dollars from every product sale. This means that you’ll need to make 50 sales to be able to hit $10,000 dollars in gross revenue. To make this happen or to increase the possibility of this idea, you need to configure your social media promotion campaigns to reach relevant or target users; people on the internet who are more prone to buying your product.
This is called ad targeting, where you tailor your ad either on Facebook or other social media platforms to reach more relevant people. For example, if it’s a musical product, then you’ll target music lovers and dancers on social media. Whatever affiliate product you’re looking to scale, there’s a target audience for it.
Firstly, you need to become an affiliate marketer for that product. And this is easy, there’s no fee attached. Simply visit the manufacturer’s website and check for affiliate programs they run. Most affiliate programs will accept your offer to become their affiliate marketer if you have a popular blog or an active YouTube channel. Opting to promote their products on social media using paid ads might also give you a pass.
3. Create & promote your course.
Another way to turn $2k into $10k is to promote your own course. Now, if you’re good at a particular thing or you’ve got a skill people want to learn, you can make a course about it and sell it online. This time, you won’t be creating a mediocre course, but a course of value; with learning sessions. If possible, you can incorporate a learning library just to make it worth more. Definitely, you’ll spend money to build your course and make it epic. So epic no other course beats it out there. Once you’re able to build something like this, you can scale the sales by promoting it on social media.
Plus, you can upload your course on different platforms too like Udemy and Coursera to get more sales. If your course is worth $700 dollars, then you need just about 15 sales to beat the $10k income mark. The truth is, you’ll make more money with a more quality course out there. Even better if you’re already a speaking authority in your area of expertise.
4. Scale a blog.
While it takes some time to build a blog from scratch to when it starts making upwards of $10k/month, you can scale this and make it happen faster. There are lots of ways to do this. The first is to automate the content creation process by outsourcing it, a second way is to buy backlinks just to rank for competitive keywords that get thousands of search per month (and day too), a third way off other ways is to promote your blog rapidly on social media while you consistently publish viral content.
All three ways will make you tons of money if you do them right. The quickest way to make this happen is to rapidly promote a viral blog on social media. There’s no waiting on Google or ranking at the mercy of search engines to get traffic. You get the traffic from social media and it can come in one day. Depending on where you’re getting traffic from, the promotion budget, and the viral nature of the content you promote, you can make more or less with more or less money. Does that even make sense? Yes. Let me explain.
You can make more money with a small budget of say $100 dollars if you’re getting traffic from here in the US. But if you’re getting traffic from countries like India, Taiwan, Mexico, or any tier 3 country, then you might not make as much money as you would have with US web traffic; still with a $100 dollar budget. With a viral blog and social media, you’re basically testing the waters of traffic arbitrage. You’ll need the best kind of traffic to earn more.
5. Start and promote a dropshipping store.
With $2,000 dollars, you can start a dropshipping store and promote it to reach more people, and get more sales. If you have no idea what a dropshipping store online is, it’s basically a website that processes customer orders without delivering the package directly. Dropshipping stores work with other suppliers to deliver customer orders. So, if you’re into dropshipping, you’ll have no business with housing products or shipping them. No inventory maintenance. No office. No staff unless you’ll need a virtual assistant to handle customer service for you.
Dropshipping can make you tons of money especially as it’s flexible and doesn’t require any physical activity for you to venture into it. First thing you want to do is to learn everything you can about dropshipping. This is because if you know exactly how it works, then you’ll know exactly how to scale it.
6. Trade binary options.
Without a doubt, trading binary options is one of the real ways on how to turn $2k into $10k. It’s really easy to get started with trading binary options if you’re not in the US. But if you are, then you’re still in luck. The challenge is getting more binary options brokers to trade with. In the US, we’ve got just one regulated broker, Nadex. You can start trading with Nadex and if you’re keen on using VPNs, you can try trading with other brokers using a VPN service.
It’s a really profitable deal if you already have an idea as to how to trade binary options. If you’re clueless, learn about it and be sure to trade profitably using demo accounts before depositing real funds into it. Stick with a winning strategy. If there’s none, then trade the demo accounts until you find one for yourself.
7. Invest long-term in stocks.
This will take a while. Or maybe not. If you want to turn $2k into $10k, you can put the money in the stock market and watch it grow. Most of the time, it will grow. It takes time for an investment of $2k to become $10k. It really does, unless a stock booms so well in price. This is what you want. And as that, you’ll invest only in very promising stocks.
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8. Trade crypto futures.
Represented in bars and charts is the crypto world. These bars and charts represent crypto or virtual assets that aren’t traceable nor centralized. They’re virtual valuables that have very shaky values. And an interesting part of this is that you can trade it just like the stock market.
Crypto is fun if you’re good at trading. If you’re not, then you’d want to learn first before trading. Else? You could liquidate your entire trading account. That’s about $2k dollars, right? The crypto futures market is more volatile, and it amplifies risks and profits too.
How to Turn $2k into $10k in 8 Sure Ways – Final Words.
Now that you’ve gotten to know the realistic ways to turn $2k into $10k, the call is yours to make. What’s the next step for you? Would you trade crypto futures, promote a product online, invest in stocks long-term, trade binary options, scale an affiliate product or a blog, promote your own dropshipping store, launch and promote your own course? The plug is yours to pull.