5 ways to generate an extra income from home
Who couldn’t do with some extra dough in the wallet? While the internet has created loads of opportunities, it’s also made space for all kinds of chancers and get-rich-quick schemes. And let’s face it, if it sounds too good, odds are it is too good. There is no quick way to profits online, no way to cut corners and no way to make a quick buck. If you’re going to succeed online, then like any entrepreneurial or business venture, you’re going to have to put in the work. The good news is that there are plenty of ways to genuinely make money online, and thanks to the ongoing evolvement of the internet and its affiliated technologies, it’s becoming more feasible. Let us now take a look at 5 ways to generate an extra income from the comfort of your home.
Perhaps you’ve always fancied having your own store or selling something to a niche market? Maybe the startup capital was a bit too much? Perhaps you were having a problem finding the right location? With dropshipping all those barriers fall away. The business model is quite simple; you provide the store online showcasing the goods you wish to sell, the customer then places an order for $200. You relay the order to the stockist for $150 and they then proceed to package and ship the parcel to the customer. In some ways your position could be viewed as that of a middleman. You’ll need to get your ducks in a row for this type of work – establish a website and create all the necessary social media profiles. The good news is that your start-up capital is almost non-existent.
2. Affiliate Marketing
This is another one, and if done right, could bring in some pretty decent extra cash. Affiliate marketing is basically the process of marketing one or many products online and then receiving a cut of the profits. Affiliate marketing also allows you a fair amount of freedom as there are many brands or companies to choose from. You could market goods and services, entertainment – almost anything that can legally be sold online. Once again start-up capital is minimal, but it will take time to build your website, set up your social media profiles and re-direct traffic from your online locations to the actual businesses. Profits can be anything from 3% to 25% of what the customer spends.
3. Start a You Tube Channel
We really do live in a time in which everyone can have their 15 minutes of fame. The good news is that if you can prove famous enough, then you can profit from it! However, this isn’t vein or shallow fame, this is fame based on the popularity of your videos. Once again start-up capital is almost non-existent, but you’ll need to have your wits about editing, sound and possibly using a green screen to save on location shooting. And you’ll be amazed by what people take to; there are kids who simply review toys, while others play console games and allow audiences to watch them play these games. There’s a video for everyone and if you can tap into the right niche or offer something unique, then you’re on your way.
4. Try your hand at Day Trading
Day trading or online trading has truly emerged in the last ten years, allowing many with a penchant for numbers and analytics to apply their skills to this potentially lucrative trade. Day trading can seem daunting and intimidating, most number-related matters are, but the good news is that there’s loads of literature available online, such as guides when trading with Canadian Dollars, as well bookstores who stock knowledgeable titles. Plus, the majority of regulated brokers will let at first allow you to trade at no cost by way of a demo account.
5. Web design
Previously web design was the sole domain of front-end developers – guys and girls with high-end qualifications in coding – namely HTML. If you’ve ever seen actual website coding, you’ll know that it’s a complex language that takes years to master and requires constant application. However, nowadays there are apps and programs available for free or at a decent cost, that allows you to build your own websites. If you’ve got the stamina and the imagination, then you can build websites and better yet, you could build them for clients. Who knows what profits your portfolio might eventually bring in?