So the pandemic got you, too? It’s no secret that the economy is hurting during the global pandemic. In May of 2020, Canada’s unemployment rate reached 13.6%. That’s the highest it’s been since 1976. What can you do to protect yourself, your family, and your finances? You can start earning money online – and we’ve gathered a few of the best ways to earn money online in Canada.
How Can Canadians Start Making Money Online?
Are you looking for a side hustle to earn some extra cash or to launch a new career? Either way, the following options have been selected and researched for you, and they show promise in the coming years. All you need is a laptop and a strong internet connection – and a place to find them.
The reality is that the pandemic has changed our economy, and it won’t ever go back to the way it was. Now is the best time to jump on the new opportunities this economy has created.
There are a few key ways it’s changed: tech is more important than ever and soft skills are increasing in value.
So how can you capitalize on those key components?
You may have heard about this concept but are left wondering: what is copywriting exactly? It’s a type of writing that is designed specially to sell products or services. Basically, it’s closing a sale in writing.
Is there a future in copywriting? In 2020, media consumption has doubled. The pandemic has caused people to spend more and more time online – and companies need to take advantage of that screen time. Businesses who are working are launching courses, ads, special offers, and providing content. And the reality is that Artificial Intelligence won’t be replacing human writers anytime soon.
As a copywriter, you get to be a part of that. Copywriters write ads, emails, landing pages, opt-ins, website copy, video scripts, articles, and more. They get to work with businesses all over the world.
Copywriters own their own business and work as either an agency or freelancer. So they set the hours they work and choose when and where they write. High income copywriters can earn 6-figure incomes with their copywriting alone.
In 2021, we’ll see an increase in the need for online content. Thus, copywriters will be in high demand.
What do you need to get started? We recommend a strong high income copywriting training and a laptop. That’s it – and you’re on your way to a 6 figure income on your terms.
2. High Ticket Closing
Copywriting is closing in mass. Hundreds or thousands of people will read your work, and you want to close the sale with as many of them as you can. On the other hand, High Ticket Closers work one-on-one with prospects and companies to sell high ticket items.
It’s definitely one of the best ways to make money online in Canada.
High Ticket Closers work with companies and prospects all over the world to close deals. Then they take a percentage of the sale.
Does that sound like a salesman? In principle, it might be. But it’s really quite different. Think of a salesman and what do you see?
A used car salesman, yammering on about deals and steals, selling snake oils and false promises?
That’s not a Closer. A High Ticket Closer uses ethical practices to genuinely seek the best solution for their prospect.
That’s how they build trust and make big deals.
So what do you need? Some training and a laptop. Then you’re on your way to unlimited growth.
3. Tech Consulting
Does that present an opportunity?
It definitely does. Businesses need someone to come along them and help them navigate that technology.
Tech consultants work with their clients to help them make the most of their technology. You will help them find solutions to the technology problems they are facing and give them the opportunity to grow. It’s a great way to help these small businesses that can’t afford an IT department.
A business’s tech consultant may help them set up online systems (i.e. sales, communications, etc.) and operate better in the online world. For instance, they could optimize a company’s online workspace better and troubleshoot any issues people are having in a business’s online systems.
Want to get started? Brush up on the latest technology and track trends on how businesses are using tech. Find some small businesses who are willing to invest in technology and use them as case studies to get actual clients.
4. Online Business Coaching
Online business coaching doesn’t necessarily just mean coaching business owners via the internet. Offering your services as an online business coach could mean helping business owners transition their business online.
In 2018, 46% of small businesses reported not having an online presence, but 2020 changed that.
So businesses need coaching on how to function online. What are the best services and software to use? How do you motivate employees in an online setting? What are the best practices for managing remote workers?
Running a business remotely is different than being in-person. Just because someone is a good manager in an office doesn’t mean they’ll be a good manager for an online business.
So they’ll need a coach. Someone who can give them the answers they need to make their business successful remotely.
Online business coaches teach business owners and managers how to motivate remote employees, optimize their online systems, enhance productivity, strategize around their business, and more.
How can you get started? Begin compiling useful management tactics for online businesses and find a few businesses to work with pro-bono. Develop case studies on how your tactics changed their productivity and morale. Then go from there to get actual clients.
5. Online Tutoring
Have schools near you been impacted by COVID-19? Many students and parents have some level of fear about schools reopening. They could be tempted to keep their kids home or seek alternative sources of education for their children.
But as parents return to work – whether working from home or in person – they would most likely not be able to take on homeschooling and work.
So where do you come in?
Offer your services as an online tutor.
Depending on the age range you’re targeting, you might not even have to have more than a high school diploma and basic teaching knowledge. Although if you wanted to work for an established online tutoring service, a college degree or certificate may be required.
Families need tutoring services for all ages and subjects. So where do you excel? You could tutor in something as simple as basic math for primary age children or advanced calculus for older teenagers.
We are big proponents of entrepreneurship here, so we would encourage you to break out on your own. On your own, you’ll have freedom to offer your services to people all over the world.
What does the future of online tutoring look like?
Because of a fluctuation in household income, this year the industry is expected to hurt slightly. But expected growth is over 15% by the year 2025. Additionally, tutors are not going to be replaced by computers in the coming years. This is a soft skill that’s needed.
6. Teaching English Online
Like the idea of teaching but not sure that you have the skillset to do it? If you’re an English speaker, you could teach English online. Across the world, there are 1.5 billion English learners. So the demand for English teachers is going up every day.
Depending on what service you sign up with, you might be required to have a college degree and proof of proficiency in the English language.
The following websites have opportunities for English speakers to teach English online:
Is this your route if you’re looking for a new career? Probably not. But it is one of the best ways to make money online in Canada because the demand is increasing. Oftentimes, you’ll be working with people in another country and time zone, so you can do it in addition to a 9 to 5 job. Some people also do it full-time because it allows for more flexibility than a regular job.
We do predict this demand will increase. It’s a soft skill that cannot be completely replaced by AI in the coming years.
7. Online Counseling
On the line of soft skills that cannot be replaced by AI, online counseling is an extremely important avenue during the pandemic. More than 21% of Canadians reported feeling anxious or depressed during COVID-19.
These respondents could benefit from mental health services but might not feel comfortable going to in-person counselors. Thus, online counseling is an important service that can be offered.
What do you need to get started? Unlike other opportunities, this is not an easy way to make money online in Canada, but it has the potential to lead into a new career with opportunities. You’ll need to get certified as a counselor, but we predict plenty of growth in this industry.
8. Data Analysis
Computers can generate numbers but can they tell you what they mean? No, they cannot. They can’t deeply understand human behavior and trends.
But you can.
As businesses shift online, they’ll be generating more data than ever, but they might not know what to do with that information.
As a data analyst, you would work with companies to go over their analytics and decide on future plans to improve their results. It’s a form of consulting but with an emphasis on cold, hard facts.
How can you get started? We recommend choosing a type of data you want to specialize in like finances or marketing, then learning everything you can about that type of data.
9. Digital Marketing
We’ve mentioned once or twice that businesses are moving online and people are spending more time online. So what does this mean for new business opportunities?
There’s a huge demand for digital marketers.
Digital marketing could be social media management, ad management, content creation, website curation, and more.
We recommend choosing a revenue generating option, like running ads. While content and social media are still extremely important, it doesn’t directly drive revenue so you cannot charge as much for those services.
If you choose to run and manage ads for businesses, you can back your pricing by revenue generated. Since it makes more sense to business owners, they’ll be willing to pay more.
So how do you get started? We recommend getting certified by popular ad programs. The Facebook Blueprint certification does come with a cost, but the Google Ads Certification through their Skillshop is free. The Microsoft Advertising Certification is also free.
10. Software Engineering
Have we mentioned that the digital world is more important than ever to businesses? And that tech skills are increasingly important in Canada?
That’s why one of the best ways to make money online in Canada in 2020 and the years beyond is software engineering.
Getting started isn’t as simple as some of the other options. It requires more training and a technical skill, but this industry has insane growth potential.
By 2029, the industry is expected to grow by over 22%, which is much higher than the average of other industries.
So is it worth the investment to learn this skill and start developing software? Absolutely. This could quickly grow into a new, rewarding career.
11. Video Game Development
Do you think software engineering could be right for you? A sub niche of that could be video game development. For the creative, this could be a dream come true.
In 2019, $4.5 billion of Canada’s GDP came from the video game industry – and it’s only expected to grow.
Video games have a huge market in Canada and, as it’s expected to grow, people will be looking for new games and new opportunities. We can also expect to see an increase in video game consumption as people spend more time at home.
Once you learn the necessary skills, you can work as a freelancer with video game companies to develop their games. Or you could develop and market your own.
This industry has limitless potential, which is why it’s one of the best ways to make money online in Canada.
What Do You Need To Know About Making Money Online By Working Globally?
Is working globally different than working domestically? There are different aspects, yes. When you start your business, you should decide if you want to only work with people in Canada or businesses abroad.
If you decide to work internationally, you may see more opportunities and growth. Any of the listed business options can (and should) work internationally.
So what do you need to know before you start making money online internationally?
First, you need to recognize the costs and necessity of exchanging currencies when you make money online in Canada. In your initial conversation and contract, clarify what currency you will be paid in. If necessary, you should also note who is responsible for the exchange fee. If it’s you, then you should factor that into your pricing.
We recommend using an online payment just for these reasons. It’s the most convenient option to exchange currencies; although, it does come with a price.
For example, PayPal uses the most recent exchange rate to automatically convert currencies for you. You also have the option to exchange manually. The fee is a percentage of the amount converted, which is industry standard.
Another popular payment method for many online businesses and freelancers is Stripe. It’s often used to integrate with contract and invoice services for ease of payment. It will exchange currencies for you with a fee, as well.
Are you working often with people from one specific other country? Say you’re working with a lot of American businesses. It might be useful to open a bank account in USD. You’ll still most likely be charged a conversion fee when you decide to exchange the money. But you get to choose the process.
You should factor this fee into your prices, but remember, you’ll also be charged a general processing fee for most online payment services.
So when working internationally, make note of the cost in your currency, their currency, who is paying exchange fees, and any price adjustment needed accordingly.
Is English or French your first language? Are you fluent in another language?
If you are working with a business in another country where a different language is prominent, it’s always a good idea to specify which language you’ll be working in and which country you’ll be targeting. Words are spelled differently with European English and American English. This is a key to making money online fluidly.
Even if English or French is your first language, it might not be your client’s first language. So make sure you are clear – but not condescending – in all your communications and contracts. If it’s apparent that their English is not great, use simple terms but don’t speak down to them.
If you speak a second language, you can also offer services in that language. Have you considered offering translation services? There is a huge market for that – especially if you can offer another service alongside it.
When you’re making money online, you’ll probably be working with people in other time zones.
Is this a hindrance?
No, it doesn’t have to be. Working with teams across multiple time zones basically means someone is working 24/7.
It does come with some challenges, but you can overcome them.
Make sure you know what time zone your clients are in – and let them know what time zone you are in. If they’re several time zones over and asking for you to meet at 2 am your time, that is unacceptable. Most people would see the logic in choosing another time to meet.
But time zones don’t just have to cause issues – they can work in your favor.
In fact, you could choose to work exclusively with clients in other time zones. Why?
If you’re working a regular 9 to 5 job, you can’t necessarily schedule meetings during that time – which is most likely when your clients will want to meet. So if you work with someone 2 hours away, you could get up early or stay up late to make the meeting.
While working with people in other cultures, cultural differences are some of the most important things to look out for. Making money online sounds great, but making a cultural gaffe and offending your clients is not the way to do it. So as you look at the best ways to make money online in Canada, keep this in mind.
See, you don’t just need to look for culture in your work but also in how you communicate with your clients.
If you need a guide, you can look into Hofstede’s Cultural Dimensions. You can also check out their comparison calculator to see what is the norm in other cultures.
Does every person fit into their culture’s mold? No. But even you have been impacted by your culture – whether you know it or not. So take a minute to familiarize yourself with some basic cultural dimensions.
Hofstede’s cultural dimensions are:
- Power distance
- Measure of how people accept differences in power.
- Individualism vs collectivism
- Measure of whether a person identifies more with their own needs or the collective needs of their culture and/or family.
- Masculinity vs femininity
- Measure of how a culture interrupts traditional gender roles.
- Uncertainty avoidance
- Measure of how a culture deals with anxiety.
- Long term orientation vs short term orientation
- Measure of a culture’s attitude towards the future.
- Indulgence vs restraint
- Measure of a culture’s interpretation of gratification.
Recognizing your culture’s dimensions can help you understand yourself and those around you more. Even if you don’t see yourself in every dimension, it can help you recognize how your culture has shaped your interactions with people. Thus, when you work with people from another culture, you can take that into account.
Canada has low power distance – meaning Canadians are less likely to tolerate unequal power distribution than some other countries. But it’s highly individualistic, indulgent, and short-term oriented. These aren’t bad things, they are just different from other countries. Canada has a relatively even score in masculinity vs femininity.
In comparison, a country like South Korea has a lot more long term attitude and a much higher uncertainty avoidance. So if you’re working with a client in South Korea, make sure to focus on long term growth and projections – and offer guarantees. The culture, in general, does not necessarily promote risk.
Of course not every person in the culture is going to perfectly follow each cultural norm, but this is a general look at their culture and how it may be different from yours.
Also take the time to research offensive terms and gestures. Does a thumbs up mean the same thing all over the world? No, it does not, and nothing is worse than accidentally making an obscene reference.
How Can You Get Started Making Money Online In Canada?
You can start making money online in Canada in 5 simple steps:
- Decide on the business you want to start. Is one more right for you than another? Do you want a career change or a side hustle?
- Verify that you’re not violating a Do Not Compete clause or you might violate a contract.
- Start training for your new chosen business.
- Speak to a lawyer or other expert on what you need to start a business in your area.
- Start finding clients!
Are you ready? What business are you going to start to begin making money online?