So, what is the fastest way to make $500 online? I’m going to assume you are reading this post because you want the answer to that question. After spending more than 10-years making money online, I can objectively answer that question for you.
I’ve tried many different ways to make money online. Some of these methods include:
- Day Trading
- Blogging
- Affiliate Marketing
- Freelancing
- MLM
- Crypto-Currency
- Business Coaching
Some methods were a huge success for me while others were a huge failure. Knowing what I know now, this is what I would suggest you do, if you want to make $500 online fast.
The Fastest Way to Make $500 Online
I believe that selling stuff on eBay is the fastest way to make $500 online. That’s right. Good ole’ eBay! I’ve been selling on eBay for more than 15-years now and it is a great way to make money online fast.
My wife and I currently have approximately 4,500 items for sale on eBay and it is our largest income stream (eBay user ID: chuckholmes301).
There are other online business models with more potential than eBay, but they take MUCH longer, especially if you’ve never made money online before, or don’t know what you are doing. eBay is something ANYONE can do!
What is eBay?
eBay is an online auction service. They allow ordinary people in many different countries to list their goods for sale via an online bidding auction or at a fixed price. Basically, you write a description, a catchy title and upload a few photos and your item is listed for sale for a set period.
If someone wins your auction or buys it at your Buy it Now Price, the buyer pays for your item and then you ship it to them. eBay charges about 10-12% of the sale, on average, for each item you sell (that includes PayPal fees).
It’s a pretty simple process with a short learning curve. There are plenty of tutorials on YouTube about how to set up an eBay account and how to make a successful eBay listing. If this business model interests you, that is where I would start: YouTube.
Reasons to Sell on eBay
There is one primary reason you should consider this business model if you are looking for the fastest way to make $500 online. eBay has buyers. They have traffic. MILLIONS of people visit their website every single day looking for things to buy.
That traffic is VERY valuable to both you and eBay. There is no way an ordinary person could set up their own e-commerce website and even get 1% of the buyers that eBay has without spending millions of dollars. Yes, you pay a fee for having access to eBay’s traffic, but it is worth it.
All you have to do is focus on listing your product for sale and then eBay does the marketing and selling for you.
In 2006, a 22 year old girl sold an eight dollar thrift store find on eBay and profited over 1,000 dollars. That one sale was the first of many that Sophia Amaruso would make on and off eBay. What started as a way to keep the lights on, would ultimately turn into a multi-million dollar fashion brand, and even land Amaruso on Forbes’ list of Richest Self-Made Women.
Source: CrazyLister
What Should You Do?
I believe most people could make $500 on eBay in 7-days or less. What I suggest you do first is look around your house for unwanted items. Grab an empty box and fill it with items you haven’t touched or used in the past year. Try to come up with at least 20 to 30 items you can sell.
Put them all in the box. After you have walk through your house, research each item under COMPLETED LISTINGS on eBay to see what price it actually sold for. This will help you price your item correctly.
Set aside a few hours and list all of your items on the weekend, or in the evening after work. Put the items on a 7-day auction. Make sure you have lots of good photos and a good description and there is no doubt in my mind you can make at least $500 online within the next week.
By the time you sell 20 to 30 items on eBay, you will have a solid understanding about what works. You will learn the ins and outs of listing stuff for sale on eBay, and know if it is something you want to continue doing in the months to come.
Honorable Mention
I figured I would include an honorable mention list covering additional ways to make $500 online quickly.
# 1: Freelancing
Doing freelance work is a great way to make money online fast. You could visit websites like Upwork.com or Fiverr.com and post your services for sale. You could offer things such as photography, virtual assistant, blog editor, SEO, email marketing, article writer, or whatever else you are good at. You could sell your services by the hour or by the project, and make money fast. Many people do this as a side gig or for a full-time living.
Approximately 57 million Americans were freelancing in 2017, and if trends continue, over half of American’s will be freelancing by 2027 according to projections in the Freelancing in America Survey.
Source: Forbes
# 2: Facebook Marketplace
Other than eBay, this would be my # 1 suggestion. You could take the same items that you boxed up that were sitting around your house and sell them on Facebook’s Marketplace. You would simply take a photo, create a posting, write a good description and just start selling stuff. Best of all, you would get CASH for your items. Like eBay, Facebook gets a TON of traffic every single day. Just be careful you don’t get scammed from unscrupulous buyers.
As of October 2018, more than 800 million people globally use Marketplace each month to browse, buy, or sell items, giving retailers an opportunity to drive discovery and sales of key products in a place where their consumers are already shopping.
Source: BigCommerce
# 3: Network Marketing
I believe you could make money online fast with network marketing IF you were focused on RETAILING, not recruiting. Assuming you have a decent product at a decent price, and you know how to leverage social media properly, this could work out very well for you. Of course, it won’t be a good fit for EVERY person.
To give you an example, my network marketing company pays 50% commissions on retail sales and you are paid instantly. All you would do is share your link on social media and people could purchase products from your online store.
The internet has made it easier than ever for people involved in multilevel marketing (MLM) to find leads or people who might be interested in your product, service, or business. Instead of just reaching out to people you know or approaching strangers, you can create a website, build an email list, leverage social media, and develop referral programs to generate solid leads that can eventually translate to sales.
Source: the balance small business
Final Thoughts
In review, I believe eBay is the fastest way to make $500 online. What are your thoughts? What do you believe is the fastest way to make $500 online? Leave a comment below and let me know what you think. I look forward to hearing from you. To your success!
Suggested Resources
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Network Marketing Professional (21+ years)
Top Recruiter & Top Rep
mrchuckholmes@gmail.com
Great article as usual Chuck. Keep up the mission of helping others.
Eric,
Have you sold on eBay before? What do you think? I personally have not. I have tried to buy something but was outbid. I know people that have great success getting rid of their items and making the money that they wanted, if not more, because they placed the bid higher. It is a good concept that seems to be doing well.