Thanks to the magic of the web, there are now more opportunities than ever to make a little extra cash from the comfort of your home. Whether you’re looking for some extra disposable income each month or trying to quit the 9 to 5 and go self-employed, the below opportunities could certainly help. All it takes is some time investment to kickstart a new income stream into action and begin making some significant money. Read the below ideas and see if anything grabs your interest!
Become An Industry Expert (And Build Your Personal Brand)
This is the decade of the influencer. More and more we’re seeing micro-influencers and online personalities grow their audience and begin to become household names. There are tonnes of bloggers out there living solely on the profits of their blog - and you don’t need to become the next Zoella to achieve this!
If you have an expertise or passion in a certain area, you have everything you need. There is a blog out there for every topic imaginable and I’m sure everyone can think of something they’re interested in that would make for some good reading. It doesn’t take a lot of technical knowledge to start a successful site anymore. A wordpress blog, design template and cheap web hosting is basically all you’ll need to get started.
Growing your site and social media presence in a certain focus area invites many opportunities to generate income. Firstly, you’ll be able to place ads on your site from specific advertisers or through Google AdSense. Brands may also want you to mention them on social media (if you have a large, engaged audience around a particular niche). You may also be requested for some sponsored post work; where brands will pay to be mentioned (and linked to) within a blog post on your site. Sponsored post rates can range between $50 and $5000 depending on the quality of your site. Sites like Mentio
Me.io are great options when seeking out this type of work.
Dropshipping - Ecommerce Without The Stress
Ecommerce has the potential to drive some serious profits but it is greatly time consuming and can be hard to manage while working another job. That’s where dropshipping comes in.
Dropshipping is where you setup an Ecommerce store but instead of stocking product yourself, when a customer makes a purchase you will have a supplier who simply sends the product straight to consumer. You will of course have less profit margin with a site of this nature, but the benefits are clear. There are so many options out there for dropshipping sites, you can basically choose any industry you’d like!
Again, you’ll need to spend some time setting up a basic online store and source some good products from somewhere such as AliExpress. Then, you’re ready to start marketing your site and building a profitable income stream!
80/20 Investing
80/20 investing revolves around operating from a point of financial strength. You’ll need some surplus funds to get started with this income generator. Let’s be honest, nothing is risk-free when it comes to investments, but this tactic is as close as you’re going to get.
80/20 investing means
doing your homework and making informed decisions where the odds are in your favour. There are many practices it can be used for and your best bet would be to carry out some research via the investment blogs and podcasts that are already out there on this subject. There is definitely potential to grow your assets via this method and make a nice sum of money by the end of the year.
Sell Your Digital Skills
Thousands of business owners and entrepreneurs are looking for people with digital skills every single day. Content writing, video editing, SEO, graphic design and many more skill sets are in demand thanks to the age we’re living in. If you have any skills in these areas, there’s lots of opportunity to sell your expertise.
Sites like Fiverr and UpWork allow you to advertise your services and find interested buyers. You can build up your profile, generate orders and drive positive feedback. The sky is the limit with this one and there are plenty of freelancing sites out there to make some viable income. Start small and slowly build your reputation. Eventually you’ll be able to charge more and you’ll learn a lot during the process.
Try Bitcoin Trading (Before It’s Too Late)
Bitcoin is booming right now and smart investors have made some serious coin with cryptocurrency over the past few years. Despite this being a completely new industry, more and more people are wising up to it and it looks like 2018 could be the last year for would-be bitcoin traders to jump on the bandwagon and make some money.
This market is becoming harder to enter as the years progress so if it’s something you're considering, your best bet is to start now. Again, plenty of research will be needed but at this time, even buying and holding some crypto for the next few years could see some serious profit. Who knows where this market will go next?
Affiliate Marketing - Find Your Niche!
Another website themed idea is affiliate marketing. You’ve probably heard of this before but the truth is, business is still booming. There’s so much potential and so few drawbacks with an affiliate site, it’s unbelievable. The trick is finding a niche you enjoy writing about and also makes money.
Remember, affiliate commissions hover around the 5% mark so you’ll want a topic that boasts some high-ticket items. It pays to go specific when it comes to affiliate sites. For help getting started with this income stream, here’s a good article to read. Content is key and good SEO skills could be very advantageous if you choose to go down this path.
So there are a few income boosters for 2018 that anyone could start working on today. There are plenty more great ideas out there just waiting for people to take action. The path to passive income truly starts with you and how much effort you’re prepared to put in. What are you planning to work on in 2018? Let me know!