Great Ways To Make Money Over Time
Personal_Finance / Money Making Dec 05, 2019 - 09:07 AM GMTBy: Submissions
Everybody wants to make more money. With today’s inflation rates and living expenses, you can’t expect to live comfortably without having to earn extra income on top of your monthly salary.
Fortunately, the gig economy has paved the way for full-time professionals to acquire an additional income stream by completing tasks for other people. It’s the perfect setup for those who don’t want to let go of the stability that their day job provides them while they earn extra during their downtime.
If you’re looking for some side hustles, here are great ways to make money over time:
1. Sell Stuff
Consider having a virtual yard sale and declutter your home in the process. Platforms like eBay and Craigslist allow you to post your pre-loved items and sell them to those who need them.
This is an excellent way to bring the joy back to your closets while earning some extra cash along the way. If this particular venture is successful, you may want to continue becoming an online seller and set up your own e-commerce store.
The primary advantage of this side hustle is that you have full control over what products or services you’ll offer. A particularly valuable business arrangement is dropshipping, where you get to serve as a mediator between the consumer and the manufacturer.
Basically, the customer orders through you with the price that you set, and you forward the details to the supplier. The latter is then responsible for preparing the goods and delivering the package. It’s a hassle-free setup for business owners.
2. Get Paid to Answer Surveys
If you want to earn extra cash without too much pressure, you can actually answer surveys for money online. Market research companies hire participants to share their reviews on the products and services of their clients.
The brands use this knowledge to develop their merchandise, which is why customer feedback is valuable for them. While you can’t expect this method to make you rich, being a regular survey participant can direct extra money into your accounts, which can help you with daily expenses like the cost of fares and food.
3. Become a Consultant
For seasoned professionals who are looking for additional income streams, you can earn money while helping others achieve their goals. You can be a consultant for your niche and share insider knowledge to those aspiring to succeed in the industry.
Some tips to help you start a consulting business include:
- Determining Your Expertise - The field of consultation is as broad as the business world itself. You have to identify your areas of expertise. Although you may have acquired several skills and knowledge through your years of employment, it’s better if you concentrate on a particular aspect first. This way, you can define your target market with ease.
- Identifying Your Prospects - After you’ve come up with your area of expertise, you need to look for potential clients who need your help. Create a website where you can post your credentials and knowledge. Make sure to optimize each web page for search engines to increase your brand’s visibility for relevant keywords.
- Getting Certifications - Boost your authority by enrolling in courses and acquiring certificates that showcase your expertise. These credentials are concrete evidence of your credibility as a consultant.
- Growing Your Connections - Establish yourself as a professional consultant by joining networking events and conferences. Print out calling cards with your contact details and the details of your consulting company to get the word out about your venture.
- Setting Up Your Rates - Research the average consultation rate for your industry and see how you can stand out from other consultants in a similar field. Don’t set your price too high or too low because it may disrupt the market balance.
4. Freelance as a Writer, Editor, or Virtual Assistant
You can also help small businesses with their processes by freelancing as a writer, editor, or virtual assistant (VA). You don’t even have to report to their physical office because most of the tasks can be accomplished through telecommuting.
You need to know your way around file-sharing and communication tools to make collaborating with other employees more manageable. Most businesses with this setup use cloud-based storage and video or voice conferencing apps.
Some tools that you need to be the ultimate freelancer are:
- Cloud Storage - As mentioned above, most companies that hire freelancers use cloud-based storage software to keep their files. Aside from ensuring accessibility for the documents no matter what device their employees are using, it also makes editing and contributing to a project more manageable.
- Communication Tools - Communication is also a crucial aspect of being part of a virtual team. Be familiar with the features and functions of commonly used apps in business so that you won’t have a difficult time when you’re hired in a company.
- Calendar Apps - Virtual assistants primarily use this software in setting up appointments and coordinating with their bosses. If you’re planning to apply as a VA, you ought to know how this type of tool work and when to use it.
- Writing Software - Writing software is relatively straightforward. You just type in your content and send the file to your colleague for modifications. It’s only a matter of knowing additional features and functions that can make your role as a writer or editor more convenient.
- Tracking Tools - If you’re going to be paid on a per hour basis, you’ll need to install tracking software that will keep your employer updated on the tasks that you’ve completed under their time. This tool monitors the things you’re doing on paid periods, and some programs even send a screenshot of your screen to your boss after a few minutes.
5. Invest Your Money
If you want something more passive,investing your money in stocks may be your best bet. You still need to exert some effort in learning about the venture, though. Nonetheless, once you’ve gotten the hang of it, you’ll be more proficient at predicting when the market will go up or down and take the necessary risks in hopes of gaining greater rewards.
Conclusion
Making money has become more accessible through the gig economy. You can set up an e-commerce store and sell stuff online. You can also get paid to answer surveys for market research companies. Other ways to earn additional income is by becoming a consultant, applying as a freelancer, and investing your money in stocks.
By Mahira Khan
© 2019 Mahira Khan - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
