How do you make money on Ethereum?

Could you please explain, in layman's terms, how someone can earn profits on Ethereum? I'm particularly interested in understanding the various methods and strategies available. Could mining Ethereum be a viable option? Or are there other ways like staking or trading? Also, could you highlight any risks involved in these methods? I'd appreciate a detailed yet concise explanation, as I'm still navigating the cryptocurrency landscape. Thank you in advance for your help!