Are you looking to improve your financial situation and start working on the internet? Or maybe you have more free time on your hand than expected due to the pandemic? Whatever the case may be, there are multiple opportunities to create a passive source of income, even turn the venture into a full-time job.
Keep in mind that there are multiple methods, and if you do not succeed with one, there is always another option. And you should be in a good place so long as you are willing to learn and grow as an entrepreneur.
Method #1 – Dropshipping
Dropshipping continues to replace traditional online stores. Entrepreneurs do not have to worry about processes like inventorization or shipping because they work as a middleman and connect the customer with the manufacturer.
You can dropship custom printed products or anything else so long as there is a demand. And even if you struggle to find a market that is not oversaturated, keep in mind that there will be new products in the future, and you can be one of the first to start a venture with them. Having prior experience, even if it did not go your way, will certainly help.
Method #2 – Blogging
Blogging can be a fun hobby and a way to get some money on the side as well. However, if you decide to try this particular method, keep in mind that you will need to work quite a lot.
First of all, consistency is not something everyone can maintain. Both in terms of article quality and publishing stuff on a regular basis.
Nevertheless, if you stick to blogging and attract enough readers, monetizing it should not be an issue. There are ad networks, crowdfunding sources, and other methods.
Method #3 – Virtual Assistant
Virtual assistants are hired by those who cannot finish every task with what time they have in a day.
The work itself is not usually that difficult, but you will still need some time to get adjusted. Also, some virtual assistants do not have to work a full 8-hour long day, though that depends on the work itself.
Also, even if the pay is not the best, you should still consider this as a great opportunity to learn new things and establish some connections that might come in handy in the future. That is if you do a good job and prove your worth to the employer.
Method #4 – Customer Support
Businesses are looking to have a customer support department that is available all the time. The experience of customers is improved significantly when they can get a response almost immediately.
You can be one of the people who are responsible for ensuring that a brand has solid customer support. And doing this work should not be that hard once you get the basics and learn more about the products, services, and how to interact with the customers.
Method #5 – Video Editing
Video editing is one of the in-demand skills right now, and if you have some time to spare, learning it will certainly not go to waste. Most channels on YouTube have dedicated editors these days. Moreover, you have platforms like Instagram and Facebook, putting more emphasis on their video content as well.
Overall, if you are looking for something that will be useful for years to come, video editing is definitely one of the ideas that come to mind.
Method #6 – Affiliate Marketing
Affiliate marketing can be profitable even if you decide not to develop a website and stick to a simple landing page or even a social media profile. The main goal is to attract the right audience and convince them to click on the link and spend the money by buying a product or service.
You have a plethora of options to choose from. And while most people still go with Amazon or ClickBank, consider exploring the options as there are other programs that might be even more profitable.
Method #7 – Online Education
The demand for online education continues to rise, and this tendency was present before the pandemic. People are eager to improve their skills by learning new things. Also, there are those who are looking to change careers and become a freelancer. Attending a college or university is not even necessary because you have information online.
This is where your experience comes in. You can create and sell courses online on platforms like Skillshare or Udemy. As an alternative, starting a tutorial series on YouTube could also be an option.
Method #8 – Streaming
Consider streaming as a method if you have a fun personality and can entertain others. The best streamers make thousands of dollars thanks to subscriptions, donations, and sponsorship deals.
Twitch TV is no longer about video games, so if you have no interest in gaming but know a way to attract viewers, go for it.