In a world where anyone can sell their skillsets to the highest bidder, the traditional 9 to 5 just isn’t cutting it anymore. Research has shown that a full 45% of Americans have some form of a side project in order to bring in some extra cash in their spare time. Thanks to modern technology, a lucrative side project can be something you do at any time, from anywhere in the world. If you’re looking to boost your bank balance in time for Christmas, here are our top seven ideas to help you get there.
Start a Drop-Shipping Business
Despite being a relatively recent phenomenon, drop-shipping has become a lifeline for small-to-medium-sized businesses of every variety. Basically, a drop-shipper takes on the shipping and marketing roles for an online vendor. You don’t have to hold any stock or make any investments of your own. All you need to do is be able to sell products that you’re passionate about for a growing business. You’ll usually get a cut of the sales, as well as bonuses and commissions for hitting certain targets. All you need is a laptop and some savvy sales skills.
Get into the Gig Economy
The amount you can make by joining the gig economy varies hugely, depending on what it is you decide to do. You can join a ride-hailing app such as Uber and potentially make hundreds of dollars a month as a driver, with little training needed. You could become a food delivery rider for a company like Postmates. If you’re looking for something a little more demanding, you could join a platform such as Upwork and sell your skills as a software developer, designer, events planner, or social media strategist, to name just a few examples.
Become a Part-Time Forex Trader
The forex market is one of the most rapidly growing sectors of the financial industry, responsible for trillions of dollars of trades every single day. You don’t need an economics degree from Harvard to take part either, as global forex trading platforms can teach you everything you need to know about buying and selling currencies on the financial markets for a profit. All you need is a laptop and a passion for finance, and you could soon find yourself with a new source of income.
Become a Freelance Writer
If you have a way with words, there is almost always money to be made. Companies of every size and shape hire freelance writers on a regular basis for copywriting, advertorials, product descriptions, social media campaigns, and more. Freelance writers can make anything from several hundred to several thousand dollars a month, depending on their experience and how much work they can handle. You can take on work on a per-client basis, or you can join a content agency that will provide you with a stream of work. Make sure to have a nice writing portfolio available on WordPress or Wix before you start applying.
Blog Your Way to Success
If you want to make money writing about yourself rather than writing for another company, a blog is the best way to do it. The most important thing before starting is to find a niche that people will be interested in. This could be in something like personal finance, travel, or relationships, anything that you care about and can engage a broad audience with. The writing itself won’t make you much money, but if you have a popular blog you could get advertising revenue in the form of sponsored posts, guest posts, and affiliate ads.
Be Someone’s Remote Assistant
The demand for virtual assistants that can work from anywhere in the world has skyrocketed in recent years, particularly for companies with an international presence. As a virtual assistant, you will be responsible for organizing meetings, sending out comms, updating social media, and just about anything else an assistant might do. The difference is that you can do it from anywhere in the world without ever actually meeting your boss. Pay scales vary depending on experience, with some roles paying minimum wage and others paying up to $50 an hour.
Start Buying Low and Selling High
There is a booming side economy happening right now on e-retailers such as Amazon and eBay. People make hundreds of dollars a month selling things online, all you need is a good eye for investments. If you know how to spot a hidden gem in a thrift store that you can flip for a profit, then you’re ready to start one of the most potentially lucrative side projects out there. You can get started just by selling things that are lying around your house, meaning an instant profit for you that you can use to acquire new products.