Working from home is a widely used term these days. According to The Commonwealth Fund, around 16 million people lost their jobs in the US alone. Other researchers put the number at 20-40 million.((The Commonwealth Fund: How Many Have Lost Jobs with Employer Coverage During COVID))
As more people lose their jobs, they are looking for money making ideas that they can do from home. This is why this article is important at such time as this.
Even if you have lost your job, it is important to understand how you can make that extra dollar. A job is never enough to bring financial abundance unless you are the CEO of a blue-chip company.
It is said that the average millionaire has 7 sources of income. This enables them to mitigate risk and make more money. This article will give you 21 money making ideas that you can easily start from home now.
1. Start a Blog
Starting and growing a blog is a good way of making more money every month. It is easy to start and manage. To start one, you need the following:((WealthWolves: How to monetize a blog))
- Choose a niche. This is where you decide what you will be writing on and to whom. Choose a niche that is broad enough to create enough content demand.
- A domain name. This is a name that is unique to your blog. For example, lifehack.org is the domain name here. You can get a domain name for as little as 1 dollar for the first year. Make sure you choose a short and memorable name that is related to your content.
- A hosting plan. A hosting company stores your website data in their servers and sends it to the browser upon request. Make sure you choose a good hosting company because that will affect the performance of your blog.
- Design expertise. You need to hire someone to create the blog for you. It is also possible to learn and do it by yourself. Most hosting companies will provide an easy to use website builder. Make sure the website looks professional.
- Content. Content is king when it comes to blogging. Produce long and high-quality content.
After starting a blog, make sure you monetize it. The easiest way to do this is to use the Google AdSense Program. You can also apply to be an affiliate marketer for various companies. This way, you can start making extra dollars from home.
2. Produce YouTube Videos
YouTube videos are also one of the best money making ideas today. YouTube has over 1.9 billion users every month. Over 500 hours of content is uploaded on the platform every minute.
To make money from YouTube, you need the following:((Hootsuit: How to make money on Youtube))
- Start a YouTube channel. This is all free. Use your Google account to register.
- Upload video content regularly. Market your content on social media to gain a following.
- Have at least 1000 subscribers and 4,000 hours watched on your channel in the last 12 months.
- Create a Google AdSense account.
- Apply for different YouTube monetization features from your account.
- Submit for review. If you qualify, you will be notified.
Video content is almost catching up with written content. It is worth producing it as we move into the future.
3. Sell eBooks
If you are a good writer, you can make money by selling eBooks online. Produce at least a 10,000 words eBook and upload it on Amazon. You can also set your own eCommerce store. The eCommerce store can be part of your blog.
It is important to understand that writing is easy but marketing your eBook will be hard. For example, there are millions of books on Amazon. To stand out, you have to be a good marketer, not just a good writer.
4. Creating Sponsored Content
Companies pay to get mentioned in relevant pieces of writing. For example, if you have a blog with high traffic, you can approach relevant firms to sponsor your content. This is also important if you are doing an eBook or magazine.
5. Paid Guest Blogging
To succeed, make sure you write high-quality content and exceed the expectations of the client. High-quality content is highly practical and actionable.
Do not write about everything. This will dilute your effectiveness. Take several topics and develop unmatched expertise. This will give you a competitive advantage in the market.
6. Renting Space
Many people are making money by renting space in their houses. If you have a big house, you can use Airbnb to rent some rooms for visitors who are on vacation near you.
7. Renting Your Car
You can also have people hire your car for a daily fee. This is a good way of turning a liability into an asset.
People will always hire cars to attend high-end functions. You can charge between 30 and 300 dollars per day depending on the type of car and the location.
8. Online Courses
For experts, this is one of the best money making ideas. Educate people about something valuable and make money. To do this, you need to produce content that guides people into getting a specific high-income skill and then sell it.
If you can get millions of people to take the courses, you might have to retire early because that income is high enough to sustain you for life.
You can also sell the courses on your website. This is a good long term strategy.
9. Affiliate Marketing
You can start a website specifically for affiliate marketing. This is where you promote other people’s products, refer them to the seller, and get a commission when a successful transaction is made.
This is one of the ways many bloggers make money nowadays. The most common program is Amazon Associate Programs.
Dropshipping is a business model where one sells products online without even having physical products. It is just about connecting the buyer and the seller online.
Dropshipping is very convenient because there is no storage cost or actual shipment on your part. You just have to set up a store. This online store should be connected to the seller. When an order is made, the seller will ship the product to the buyer.
Your work is very minimal. You just have to market the products and get as many people as possible to make the purchases.
11. Life Coaching
You can make money by helping people solve their problems. This is what life coaching is about.
To help people solve their problems, you can use The Grow Model.((MindTools: The GROW Model of Coaching and Mentoring))Here is what it means:
- G- Goals. Help the client generate goals.
- R- Reality. The client should understand the current reality. This provides the gap between what is being achieved and what should be achieved.
- O- Options. What options does the client have moving forward? How will the gap be bridged?
- W- Way forward. Which option will the client select to reach the predetermined goals?
If you can help people get better and happier, they will keep recommending your services to their friends. All of these can be done at home.
12. Become an Influencer
Influencers are paid handsomely to promote commodities. However, you have to have a massive following in the digital space to be considered. For example, if you have 100,000 followers on Twitter, Instagram, or Facebook, you can approach companies to help promote their products.
13. Academic Writing
Academic writing is one of the most famous money making ideas for young graduates. Here, you produce content for academic purposes. This can be writing a report for university research or doing a project for students.
14. Start a Podcast
Podcasts are very famous nowadays. Most people prefer listening rather than reading. You can record a series of informative audio files and have people listen or download.
If your podcast gets thousands of listeners or more, you can get a sponsor. The sponsor will pay you to get mentioned or advertised on your podcasts.
15. Start a Webinar
Webinars are also one of the most common money making ideas around today. This is where you host a seminar online. People can then pay and participate virtually from all over the world.
You can also offer the webinar for free and get sponsors.
16. Paid Online Surveys
Companies love to know what people in their market think about various topics, products, and ideas. This will shape the way they create and market their products.
You can take these online surveys online and get paid. InboxDollars, Swagbucks, and MyPoints are the most famous online survey sites.
17. Sell Old Stuff
You can make money from home by selling some of your old stuff in your house. These can be furniture, electronics, automobiles, etc. Whatever you do not need in your house can be converted into cash.
18. Invest in Dividend-Paying Stocks
This is a good way of making money from home. Just buy stocks of companies that give annual dividends and hold them for the long term. These stocks will bring you money without having to work.
19. Develop Mobile Apps
Mobile apps are widely used. They are very effective because once installed, they will be highly visible on the mobile device. The user will be tempted to open them now and then provided they provide value.
Build an app that provides massive value to people and then work with advertisers to monetize it.
20. Network Marketing
There are many network marketing firms today. Many aggressive marketers are making money by just having people join. As they get more people to join, their networks get bigger. Any time a person in their network makes a transaction, they get paid.
21. Trade Cryptocurrency
You can make money by trading Bitcoin and Etherium from home. As the world evolves, cryptocurrency will become even bigger.
There you go. You can get an extra source of income by executing any of the 21 money making ideas. They will give you more money to spend and invest.
To become successful in any of them, you need hard work, persistence, and patience. Nothing worth doing is easy. You will encounter many challenges and competitors. If you are not committed, you will not make any mone