Welcome to our comprehensive comparison of two popular platforms, Thinkific and MTurk, as a way to make money online.
Thinkific is a course creation platform that lets you monetize your knowledge and skills by creating and selling online courses. MTurk is a remote crowdsourcing marketplace that offers flexible, short-term work opportunities if you want extra income.
We’ll compare these two platforms, discussing the factors to consider, the pros and cons, and finally, which is the better platform for your side hustle. So, buckle up as we delve into Thinkific vs. MTurk.
Thinkific Overview – Course Creation Platform
Thinkific is a comprehensive platform for creating and selling online courses. It has been helping businesses and organizations monetize their knowledge and skills by turning them into lucrative online courses. It has also made strides to be a good place to start for individuals looking to earn money online.
Whether you’re a subject matter expert or a simple hobbyist, Thinkific empowers anyone to turn their passion into a profitable online business. Known for being very beginner-friendly, Thinkific provides users of various skill levels with the tools to create engaging and informative courses that can be easily published and sold to a wide audience.
They can build, market, and sell their products easily, making it an excellent platform for those looking to create a side hustle or supplement their income.
Advantages of Earning Through Thinkific
With Thinkific, individuals can turn their expertise into a lucrative source of passive income. Whether teaching a skill like graphic design or sharing insights on a specific topic like health and wellness, Thinkific lets users monetize their knowledge and skills by creating and selling online courses.
A big advantage of using Thinkific is the ability to create a scalable income stream. With the option to sell courses globally and 24/7, Thinkific enables users to reach a large audience and earn passive income even while they sleep.
Potential Drawbacks of Making Money with Thinkific
Considering Thinkific is a course marketplace, you must build comprehensive products based on your existing skills and knowledge from the ground up. You’ll need to create a detailed online course, which requires time and effort. From the planning and creation process to the marketing and sales strategy, it takes dedication and hard work to create a successful course on Thinkific.
Plus, there is a significantly high level of competition in the market. To stand out and succeed, you must make a unique and high-quality course that sets you apart from the competition.
Thinkific is a fantastic platform for individuals to monetize their knowledge and skills, create a scalable and passive income stream, and turn their passions into a successful online business. However, it requires time, effort, and dedication to create a successful course and stand out in a highly competitive market.
Amazon MTurk – Remote Crowdsourcing Marketplace
Amazon Mechanical Turk, also widely known as MTurk, is a remote crowdsourcing marketplace platform owned by Amazon, one of the biggest companies in the world. MTurk is where businesses outsource short-term tasks to a large and diverse workforce of freelancers worldwide.
The platform operates as a marketplace where businesses can post and pay for small tasks that require human input, such as data entry, image tagging, or content moderation. If you’re looking to do short-term tasks instead of creating a full product from scratch, MTurk may be a good place to start.
Every time you complete certain Human Intelligence Tasks (HITs), you can earn enough money to withdraw from your bank account or through Amazon gift cards.
Advantages of Using MTurk for Making Money
If there’s one thing MTurk is best known for, it’s its flexibility. You can choose when and for how long you work on tasks, making it an ideal option for those who have other commitments or an unpredictable schedule. Additionally, the platform offers a wide range of tasks, meaning that you can choose projects that match your skills and interests.
One of the admirable benefits of MTurk is that it can supplement your primary source of income. You can earn extra money by completing tasks on the platform. With the various projects created by large and small companies, you can try out new skills and gain experience in new areas.
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Potential Downsides of Generating Extra Income Through MTurk
Although MTurk offers a wide range of tasks, you’ll always need more, and some of them may need to pay better, which can be a drawback if you’re looking to make a significant amount of money. As we take a closer look at the platform later in the article, it’s clear that you will only earn a little if you do simple tasks. However, it is important to carefully research the tasks you want to complete and make sure they pay a reasonable wage before committing to them.
While MTurk may be flexible at best, it can lack stability and consistency fast. The platform operates as a marketplace, and tasks’ availability can vary daily. While this lack of stability can make it challenging to rely on MTurk as a primary source of income, it can still be a good option for supplementing your existing income.
To summarize, MTurk has what it takes to provide flexible, short-term work opportunities for individuals looking to make extra money. Users can complete various tasks, from data entry to research surveys, and receive payment for their work. They can do all that at their own pace and on their schedule. Despite this, the pay for certain tasks can be low, and the work may need to be more consistent.
Thinkific vs. MTurk – Which Has The Better Way to Make Money Online
In this section, we’ll compare the most sought-after platforms for making money online: Thinkific and MTurk.
Each platform has its advantages and downsides. Your choice will depend on various factors, including your skills, goals, and what to expect when making money with either website. We’ll dive deep into what makes Thinkific and MTurk different and what you should consider before making a choice.
Whether you’re looking for a side hustle, a passive income stream, or a flexible way to make extra cash, both platforms certainly have something refreshing to offer. Let’s take a closer look.
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Important Factors to Consider
While choosing between Thinkific and Amazon Mechanical Turk (MTurk), you should consider both your skills and interests, as well as your financial goals and expectations. These two factors will play a significant role in determining which platform fits you best.
Skills and Interests
Skills and interests are crucial to consider because they will determine the type of work you are best suited for.
If you have expertise in a particular subject matter and enjoy teaching, Thinkific may be the better option. It allows you to monetize your knowledge by creating online courses that others can purchase and take. The only downside of making a new product is that you’ll need to commit extra hours, but if you are okay with this, this may be up your alley.
On the other hand, if you are more comfortable completing short-term tasks and do not have a specific skill set in mind, MTurk may be a better option. Most of its HITs take less of your time – give or take anywhere between 15 minutes to an hour. This means you can spend your free time from work hours or any taxing task by keeping up with MTurk’s HITs.
Financial Goals and Expectations
It’s also important to consider your goals and expectations when trying to earn online. If you’re looking for a scalable and passive income stream, Thinkific may be the way to go. Meanwhile, if you’re looking for a flexible, short-term solution to supplement your income, MTurk may be a better fit.
With Thinkific, you can create a course once and earn money for months or even years. It’s more than just the usual online courses you can create. You can also build monthly membership and course bundles, so you’ll always be sure to have passive income in your wallet. The best part is that it’s entirely up to you how much you want your customers to pay for your products.
While a truly passive income stream is fully guaranteed with Thinkific, the same cannot be exactly said with MTurk. Most of the platform’s HITs pay only a handful of pennies (yes, as little as $0.01), which can be quite a disadvantage.
However, some projects pay a few dollars, between $1-10. In rare cases, a select few will pay you up to $18 to complete certain tasks. Despite this, you can at least look on the bright side because most of these tasks are short-term and shouldn’t take much of your time.
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Ultimately, the choice between Thinkific and MTurk will come down to your capabilities and your financial expectations. So far, both platforms have unique advantages and disadvantages, so you should consider them when you decide.
Thinkific – Pros and Cons of Making Money
Pros of Making Money with Thinkific:
- Ability to leverage expertise and knowledge to generate income – If you have a unique set of skills in a particular subject, you can create a course and sell it on Thinkific. This way, you can earn a passive income from your knowledge and skills.
- Potential for a recurring revenue stream through course sales – Unlike a traditional job where you earn a set salary, Thinkific allows you to earn more money as your course becomes more popular and sells more copies.
- Ability to reach a large audience through online marketing – Thinkific is best known for its decent yet powerful lineup of marketing and sales tools to better promote your content to a wider audience. You can even create a website showcasing your previous products and works.
- Potential for high-income earning through premium course offerings – You can price your course content however you want – $15 for one short course or a whopping $500 for exclusive membership. Plus, if you create a high-quality course, you can earn substantial money with Thinkific.
- Flexibility in setting course prices and creating a course on your schedule – You can create and sell your course at your own pace and schedule. You have the flexibility to work on your course whenever you have the time and energy to do so.
Cons of Making Money with Thinkific:
- Time and effort required to create and market courses effectively – If you’re going to create a course on Thinkific, you may have to undergo a long process that requires time and effort.
- Intense competition in the online course market – Many other people are creating and selling courses just like you, and you need to find a way to stand your products out from the crowd.
- The need to continuously update courses to keep up with industry trends and changes – If you want to make your chance of earning passive income last longer, you may need to update your products with relevant material and information from time to time.
- Dependence on course sales for income, which can be unpredictable – Have you marketed your courses enough to persuade your target audience to buy them? Do they too expensive or too cheap for your customers to buy? Is there another competing course that’s doing better than your own?
MTurk – Pros and Cons of Making Money
Pros of Making Money with MTurk:
- Flexibility to work and earn wherever and whenever – MTurk offers flexible work opportunities that you can do anywhere with an internet connection, allowing you to schedule and choose tasks that fit your skillset and lifestyle.
- Wide variety of tasks to choose from – MTurk offers a wide range of HITs that humans like you can complete, including data entry, surveys, research, and more. This diverse range allows you to earn money through different methods and supplement your income with multiple sources.
- A conveniently low barrier to entry – MTurk has a low barrier to entry, making it easy for anyone to sign up and start earning money. You don’t need any experience or skills. You can start completing tasks immediately if you have a functioning Amazon account.
- Easy and dynamic payment process – You collect your earnings every time you complete a task on MTurk. The payment process is straightforward, as you can be paid anywhere between three days and a full month. You can also choose to be paid either straight to your bank account or through Amazon gift cards.
Cons of Making Money with MTurk:
- Concerningly low pay for certain tasks – Most tasks on MTurk pay very little, and workers may need to complete many tasks to earn significant money. You may have a slight chance of earning up to $18, but it’s very rare.
- Lack of stable and consistent work – MTurk offers mostly short-term work opportunities, making it difficult for workers who want stable work and income in these tasks.
- More users mean fewer task opportunities for you – The number of workers on MTurk has been increasing, which has led to intense competition for whoever gets to finish the task first. This can get even harder, especially during peak times.
- Quality control issues – While some HITs have a collectively low entry barrier, others may require you to comply with their high standards to get paid. This can be frustrating for workers working hard to complete the task only to have it rejected.
- Limited opportunities for skill-building – Given its limits and setbacks, there are better places than MTurk if you want to develop new skills or grow your career.
Thinkific vs. MTurk Summary – Which Is the Best Side Hustle Platform?
In summary, Thinkific and MTurk offer different ways for individuals to earn money. Thinkific can let you monetize your skills and knowledge. You can generate a passive income stream by selling online courses. However, creating a course requires significant time and effort, and there is competition in the market.
On the other hand, MTurk provides flexible, short-term work opportunities with various tasks to supplement one’s income. However, some tasks have low pay, so you must complete multiple tasks to earn a few dollars.
Ultimately, the best side hustle platform depends on individual skills, interests, goals, and expectations. Once again, we recommend you weigh each platform’s performance, pros, and cons before deciding which is better suited for your needs.
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FAQ
Can you use both Thinkific and MTurk to make money?
Yes, you can use Thinkific and MTurk to make money. Both platforms offer different opportunities to monetize your skills and knowledge.
Are there any fees associated with using either platform?
Thinkific usually charges fees for hosting and selling courses, with prices starting at as low as $36/month for the Basic plan. It also has a free plan, but you can make only one course per account.
Meanwhile, MTurk does not have any fees associated with using the platform. However, it may take a portion of your payment for completed tasks.
Are there any age restrictions to using either Thinkific or MTurk?
There are no specific age restrictions for using either Thinkific or MTurk. However, Amazon requires users to be at least 18 years old to sign up for an Amazon account, which is necessary to access MTurk.
What type of payment options are available for earnings from both platforms?
Both Thinkific and MTurk offer several payment options to withdraw earnings. In Thinkific, you can pay out directly to your bank account through the platform’s Stripe integration. You can even withdraw them to your PayPal account if you have one.
MTurk, on the other hand, also lets you transfer your earnings to your wallet through Amazon Payments, which includes options such as direct deposit, Amazon gift cards, and credit/debit cards.