Since the rise of the internet, people have been finding more and more ways to earn money from home, especially now, as coronavirus has had us all working from home.
There are lots of ways you can make a few extra dollars from home, but it can be tough to get ideas. So we’ve put together a list of simple ways you can bring in more cash flow while you’re working from home:
1. Monetize Your Blog
If you have a blog or social media account, one of the key things you can do is monetize it. The best way to do this is to get endorsements or sponsors so you can advertise their products, but you’ll need a decent following on your blog or social account to get regular deals.
You can increase viewership of your blog or social account by promoting it through ads (such as on Instagram or Facebook). You can also optimize your blog through Search Engine Optimization (SEO). Monetizing a blog or account you already have established can be a great way to earn more money.
2. Start a Dropshipping Business
Dropshipping is like ecommerce, except a far more efficient, streamlined, and cost-effective way of being able to buy and sell online for profit. It’s also a good avenue to explore with very few startup costs.
Dropshipping works by making you the middleman between a wholesaler and the customer. You sell a product at retail price to a customer, order it from a wholesaler at a lower price, and the wholesaler will send it directly to the customer. You keep the profit between the retail and wholesale price.
3. Start Day Trading
If you feel like branching out and being a little more risky with your money, you might consider day trading. Day trading is trading stocks on the stock market to buy and sell quickly for profit.
Be warned though—day trading can be volatile and usually requires a dedicated amount of time (for many, this is a full-time job). You should be prepared to lose any money you invest in this.
4. Teach an Online Skills Course
If you want to use the talents you have to make money while working from home, you could take time out to teach an online course revolving around your skillset.
For example, many music teachers are learning to teach piano lessons online by building a remote network of students and automating many of their processes. This is a great way of bringing in extra revenue without needing to learn a whole new skill.
5. Join a Freelance Site
Whether you’re a writer, graphic designer, or coder, you can earn extra cash through freelance sites that take a percentage of your earnings in exchange for a massive network of international customers ready to purchase your services.
These are just a few of the tips you can use to help you earn money from home. While there are infinite ways to expand your revenue from home, these are some simple ideas to help you get started on your new business ventures.