Assess how much money you need to make. Determine how much money you’ll need to make in order to live comfortably. In some cases, you may need to factor in overhead costs, initial cash outlay to get the business started and the amount of time it will take to turn a profit. Tally your monthly bills to help determine the total amount you should make and decide how much money you would like to add to your savings account.
Etsy: While Etsy's popularity has declined recently, it's still a great resource for selling handmade items online. No need for complex ecommerce sites or merchant accounts or any sort of automation. The company takes a commission of every sale and charges a small listing fee per item. But many still use Etsy as their primary source of income. The best part is that you can also sell digital products such as poster designs.
Once you have that problem or need nailed, the next step is to validate that idea and make sure you’ve actually got customers who will pay for it. This means building a minimum viable product, getting objective feedback from real customers, incorporating updates, testing the market for demand, and getting pricing feedback to ensure there’s enough of a margin between your costs and what consumers are willing to pay.
That means that if you have extra money just sitting idle, either in a checking account or a low yield savings account, you might be better suited to put those funds into something that can grow faster. Depending on your age and how much risk you are willing to take with your investments, you should be netting around 7% growth per year with a balanced portfolio. Of course, there will be ebbs and flows (and you won’t make money every day), but investing over the long term is one of the best ways to build long-term wealth.
Using a food delivery service can’t necessarily earn you money, but it can help you save you money if you constantly find yourself throwing out half the food you buy. Food delivery services send a box of food every week with new, sometimes unique vegetables, meat, fruit, and so on. If you don’t have time to shop and want simple meal-prep that leads to a good meal, a food subscription service may be perfect for you.
You’d do most of your work in a home garden, but you’ll have to spend your weekends away from home. If you love the idea of selling your home-grown produce, but can’t swing being out of the house on weekends, consider selling to friends, family, and neighbors instead. Almost everyone prefers the taste of a fresh picked tomato to a store bought one.
If you’ve got some free time and don’t live in the middle of nowhere, becoming a Lyft driver can be a very lucrative side hustle. And right now, they’ve got a promotion going on where any new driver can earn up to a $1,000 bonus after completing their 125th ride. If you start now and hustle hard on the weekends, you can probably unlock that bonus within a few weeks of driving (the bonus is cleared on top of your normal earnings).
Let’s say I’m an Amazon affiliate for camping gear, and I want to write an exhaustive, in-depth blog post and review of the “50 Best Hiking Backpacks for Adventuring Outdoors.” By running a quick Keyword Planner check on the organic search volume I can see that there’s around 5,500 monthly searches for the keyword ‘hiking backpacks’ alone. I'll then start with putting together a blog post outline to highlight my unique angle and make sure I'm doing the best possible job of answering reader questions.
That’s where you — the Facebook ads specialist — can come in. If you learn how to effectively run campaigns and generate leads for a local small businesses, you can earn anywhere from $1,000 – $2,000 per month per client. You don’t need to have a degree or prior experience in the field to get started, and as your portfolio of clients expands, you can start to up your rates and charge more.
Become a Virtual Assistant. You can make money from home by being an assistant who works for one or more people over the internet. Your job will entail tasks that regular personal or corporate assistants do at an office. Quite a number of employers hire part time assistants to do errands such as typing documents, taking calls, and sending out marketing emails to clients. If you want to be a full time assistant, then you can take more than one client.
However, like anything else truly worthwhile, apps require a significant investment of your time or money upfront. If you don't have the skills, then you have to hire someone who can assist you in creating a great app. But first you need to come up with an idea that will sell. Do the proper market research and analytics to come up with the right app.
If you have a propensity for writing and you can slay with your prose, consider writing an ebook. While the market has certainly become saturated as of late, books that help teach people about a technical topic still sell extremely well. This is a great source of passive income but does require a large amount of effort at the outset before any money is generated.
Start by taking other courses you’re interested in: Not only is this important competitor and opportunity analysis, but it also gives you an idea of how a course could or should look and feel. What’s the pacing like? Is it via email, video, in-person chats? Once you understand how you want your course to look, it’s time to decide what it should include. Those same courses are a great starting place. How can you make your course better or more interesting? Do you have experience others don’t?
Next Day Payment: When you sell on Decluttr, you receive payment within 24 hours after the sale completes and the item arrives at the new owner’s address. That’s substantially faster than many online consignment platforms, which tend to have more flexible payment terms. And it’s much more predictable than auction sites or venues for third party sellers (including Amazon), which typically allow buyers and sellers to work out their own payment arrangements.