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It is no secret that we are changing the gears in a » gig-economy «. The typical 9-5 workday is slowly becoming a thing of the past, with the emergence of qualified freelancers who are able to generate six different sources of income with flexible work hours.
If you are looking for work or have a full-time job but want other sources of income, I highly recommend taking an extra job . Before I started working on our startup, Due, I mixed four or five different projects at the same time. I was able to work in peace and had direct control of my potential income . Even now that I work full time, I will not stop exploring new opportunities.
If you are looking for alternatives for a different income, take a look at these four part-time jobs that anyone can start today.
1. Start your blog
One of the most popular ways to earn extra income is to start your own blog. Earning a significant income from a blog (or any income) requires a heavy investment of time. If you are looking to make a quick buck, this is probably the best place to start. If you’re willing to put in enough time, the investment will be worth it.
For starters, I recommend that you choose a topic that you are extremely passionate about. This way you can produce meaningful and amazing content. Next, choose a domain name and buy a server. WordPress offers a variety of options when you want to create and condition your own blog.
It’s best to focus on content that is useful and grabs the attention of your audience. If you’re writing a travel blog, for example, focus on the best sights or places to eat rather than how much you miss your dog and home. Here are some ways you can improve your blog:
Find sponsors: Whether it’s a logo or a dedicated page, sponsorship is a great way to create a constant flow to your blog. For example, if you have a fitness blog, look for sponsors from brands related to the topic, so you will gain more attraction.
Sell ad space: This is a problem as you don’t want to deter your readers with the mess of a blog with ads. Try to use native advertising strategies to work the ads from the content.
Invite contributors: Other bloggers in your industry may want to pay for guest ads or paid content. This is a great way to earn some extra money and produce more content at the same time.
2. Equity crowdfunding
Unlike reward-based crowdfunding, equity crowdfunding allows investors to acquire real securities for their investment.
I suggest checking out some equity crowdfunding platforms to familiarize yourself with the process. Crowdfunder is a platform that acts as a market for both investors and startups. Indiegogo offers equity crowdfunding opportunities as well. Both platforms also provide tons of informational material so you can educate yourself before investing.
If you already work for a startup, this is a great way to learn about other companies. Plus, it gives you perspective on both sides of the fundraising process. As an entrepreneur you need to constantly expose yourself to new facets of business. Equity crowdfunding is a great learning experience and potential income opportunity.
3. P2P loans
Peer-to-peer loans allow individuals to obtain loans without having to deal with banks or other institutionalized lenders. Platforms like Lending Club and Prosper allow almost anyone to become a lender.
These platforms are highly coveted by individuals and companies looking to secure a quick and easy loan. That being said, interest rates are typically higher on these platforms. The average interest rate for LendingClub in 2016 was around 12 percent, with more than $ 300 million in interest payments received. If you have some extra cash lying around, peer-to-peer loans are a great way to put your money to work.
These platforms also help lenders by researching and rating borrowers. The general rule of thumb when investing is to hedge your bets, so never put all your eggs in one basket. Take a look at some statistics provided by Lending Club before you start.
4. Outsource a micro-business
This is one of my favorite part-time jobs as it puts your true skills as an entrepreneur to the test. Being an entrepreneur is about being resourceful and creating opportunities out of thin air.
I remember when I was working on my first startup. I had a friend who asked me if I knew how to develop a website. Not knowing anything about web development I gave him a short answer: «yes, of course I do.» I ended up finding a developer and helping my friend build his website. Since this was a good friend, I did not charge him, but I realized that he had created a potential opportunity.
Be it web development, graphic design, or even marketing, there are plenty of opportunities to connect buyers and sellers for profit. Platforms like Fiverr and UpWork give you access to thousands of tons of freelancers with diverse skills and experience. Once you are able to block a few projects, I suggest looking for a virtual employee to whom you can delegate most of the work. You could create a virtual development store without leaving home.
No matter what your current financial situation is , it’s always important to look for new income opportunities, especially those that make money while you sleep . If you’re an everyday entrepreneur, try one of these part-time jobs so you can get ahead and cut back on your earning potential.