Be proactive. Remember Murphy's Law: "Whatever can go wrong will go wrong." Make plans, complete with as many calculations as possible, then anticipate everything that can go wrong. Then make contingency or backup plans for each scenario. Don't leave anything to luck. If you're writing a business plan, for example, do your best to estimate when you'll break even, then multiply that time frame by three to get a more realistic date; and after you've identified all the costs, add 20% to that for costs that will come up that you didn't anticipate. Your best defense against Murphy's law is to assume the worst, and brace yourself. An appropriate amount of insurance may be something worth considering. Don't forget the advice of Louis Pasteur, a French chemist who made several incredible breakthroughs in the causes and prevention of disease: "Luck favors the prepared mind."
I recently started working in network marketing with a natural hair care line. It has transformed my life, by giving me my confidence back. I was losing my hair and I didn’t know what to do. I’d been to the Dr and told it wasn’t a thyroid issue, but they couldn’t tell me what WAS causing it. My good friend introduced me to these amazing products, that in a matter of months changed my life. My husband is now using the products for his “gaining face” (not receding hairline) issue. Lol.
Many small companies and startups now outsource jobs that aren’t part of their core business (such as HR, admin, and accounting), which makes this skill set a great opportunity for starting a side business idea that engages your number prowess. Because companies always need to track their cash flow, freelance accountants and bookkeepers can really benefit from the increasing demand for part-time help.
Like birthdays, marriages happen all the time. Which means you can treat weddings as a recurring fountain of business opportunities: wedding dresses and coats, jewelers, food caterers, venue providers, photographers and videographers, performers, flower shops, travel agencies, souvenir crafts, and a host of other ventures. Now imagine if you can form a network of these service providers so you can offer engaged couples a range of hassle-free wedding packages as a turnkey business idea. The process is certainly fun (and time-consuming), but as a side business idea, the pay can be pretty great.
Websites like Survey Junkie will pay you a decent chunk of change for the low-maintenance, borderline mindless task of completing surveys. Companies want to understand consumers better, and one way they do that is by compensating survey-takers. Most surveys pay between $0.50 and $1.25, and many of them take less than 5 minutes to do. You can read our full Survey Junkie review for more info.
Are you an animal lover at heart? How about making some extra money just by taking a dog for a walk or boarding a cat for the weekend? You can advertise your own pet-sitting business on social media, put up signs throughout your neighborhood, or use a website like Rover. They let you set your schedule and adjust your fees as you see fit. If you do use Rover, keep in mind that they take a cut of what you make.(3)
It is very much like being a digital salesman, only you do not have to get horrid body aches as you walk from door to door. Imagine the kind of potential for income this business has. Platforms such as Amazon offer up to 10% commission on every item purchased using your affiliate link. Other platforms and vendors offer higher commissions, some even going as high as 50% – 60% or more.
Find an audience for your passion or hobby and you’re all set to monetize something you love via a niche website as a side business idea. That of course, is easier said than done, something not intended for the faint of heart. Prepare to invest a lot of your time, but if you can hurdle the steep challenges and positively answer a few key questions on whether the website business idea you’re thinking about is profitable, then you can begin building it.
But if you get the green light to do it, starting a catering service is a relatively low-overhead way to create a new business. It’s a lot of work, but if you enjoy cooking, it could turn into a lucrative and fulfilling career. To get started with minimal investment, you could first cook in your customers’ homes and use their dishes. Also, a narrow specialization on a particular type of cuisine or event may help you attract clientele as you work develop a strong customer base.
Ghostwriting pays pretty well, and if you're talented at researching and creating great content within a certain subject domain, you can quickly build a roster of high-paying clientele with this business idea. Ghostwriters like Jeff Haden have created very lucrative careers for themselves by writing for business executives and CEO's—and Jeff also started his ghostwriting career as a side business idea outside of his full-time job as a factory manager. Listen to his interview with me on The Side Hustle Project (podcast) right here. It's a grind getting to a place where you can earn a full-time living from ghostwriting, but if you stick with it and bounce back from your defeats, you'll make it.
Your money is either in charge of you or you’re in charge of it, there’s no middle ground. Using some type of personal finance software can help alleviate some of that money stress and better allow you to manage your money effectively. Without it, you may just be setting yourself up for constant financial worry. Life is already tough enough and there’s no need to make it more difficult by simply hoping your money issues will all work out in your favor. Hint: they won’t.
If your mastery of another language is good enough to have the grammar and spelling down, translating is a great side business idea to set up for yourself and can even be done remotely. Flexjobs has literally hundreds of freelance, remote translator jobs available right now and if you're looking to land more remote work on the side of your other pursuits, check out my guide—how to get a remote job (this weekend).
This is the best way to boost your earnings, as you have the most leverage at the moment that a company wants you but isn’t sure whether it can get you. Use that to your advantage in negotiations. Another benefit of getting a bump up when you switch jobs is that the percentage boost will be baked into all your future raises, elevating your lifetime earnings. Here’s how to negotiate your salary.
Used-car salesmen unfortunately have some nasty stereotypes to live down, but you don’t need a tacky blazer or a fast-talking sales pitch to make money buying and reselling cars. People throw away perfectly good (or certainly good enough) cars all the time for all sorts of trivial issues. If you know a little something about servicing a car and can make one shine for a Craigslist ad, you could take advantage of massive opportunities to buy used cars and resell them for major profit.
But be wary. Food service—even a delivery service, which is the most likely scenario for home bakers, as opposed to setting up a storefront—comes with built-in risks. Prepare yourself, and read up on your local insurance requirements. And don’t be afraid to start out by making just one or two really great treats. Consistency is more important than variety in the baking business.
Ask for a raise. If you’re unhappy with your compensation at your 9-5 job, asking for a raise is one way to beef up your bank account. Most employers offer an annual review of your work – which could be the perfect time to negotiate a higher salary or ask for better perks. If your employer doesn’t offer such an opportunity, it might be time to initiate a review yourself.
This is the first company to offer 100% commissions on online backup. 14% of home computer users will lose data in the next year due to no fault of their own… This is the very first true consumer product that every person needs who owns a mobile device like an iPhone, iPad or Android and/or a home computer or laptop. Listen.. I could go on and on on how HUGE this is going to be. Don’t miss the boat! Jump in with both feet NOW to secure your financial future, and your most important data at the same time!
I am 3 years away from full retirement but would love to do it earlier and get out of the rat race and learn new skills. I have plent of office experience and working wiith numbers and pc’s. Can anyone give me an estimate of the cost of the online schools for certificates in medical billing? I looked at some of your links to the schools and I know I can ask them for info, but woud like to get an idea of the cost before I have someone contacting me without knowing first if I can afford to pursue this. I am very interested and thank you for wanting to help others.
All right, pick your jaw off the floor-I’ll tell you how this happens. You’re probably all too aware of those obnoxious video ads on YouTube that are shown before the video that you really want to watch. YouTube makes a ton of revenue from these video ad rolls, and when a user has a large enough subscriber base, he or she is invited to join YouTube’s partnership program, allowing the user to grab a piece of the advertising pie.
Bob Lotich is a Certified Educator in Personal Finance (CEPF®) and has over 10+ years experience writing about Biblical personal finance and is the best-selling author of 4 books including Managing Money God's Way and has been named a top 20 social influencer in personal finance. His writing has been featured on Forbes, The Huffington Post, Yahoo Finance, CBN, Crosswalk, Patheos and others. He has been a full-time writer since 2008 and loves uncovering financial wisdom in the Bible as well as discovering the best tools and strategies to help you put more money in your pocket.
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Don’t worry, even if you are camera shy you can still make money from hosting videos on YouTube. Video is quickly becoming an integral part of online interaction and content dissemination. From trends like Facebook Live to Instagram Videos and Snapchat Stories, using video is extremely easy and very likely to earn you an audience – provided you give them what they want.
Monetize a hobby. While some hobbies actually cost money, others can be transformed into a profitable business venture. Ultimately, it depends on what your hobby is and how talented you are. You could turn your love of photography, for example, into a part-time gig taking family portraits and wedding photos or selling prints on Etsy or at arts fairs.
Regardless if you need to earn some fast cash or we're just talking about making money in the grand scheme of things, there's an important psychology that needs to be mentioned before getting into the strategies. If you study Freud's model of the mind, you'll discover the Psychic Apparatus. It's the three-part construct in your mind that controls all of your behavior.
If you have a talent for helping people look their best, and know how to mesmerize with eyeliners and turn heads with lipsticks, consider using your beauty skills to pursue this easily profitable side business idea. For under $2000, you can start your own make-up artist business which can make for the foundation of a potentially lucrative side business idea that turns a profit largely by referrals and word-of-mouth from your happy customers.
It’s funny how much baking can relate to making money. Start bringing in some side income by kneading flour, mastering the oven, and appeasing everyone’s sweet tooth. While some experts have already turned baking into their sole “bread and butter,” you need not leave your day job to pursue this business idea just yet. Depending on your experience, you can start by doing something simple on the side like perfecting Grandma’s nostalgic cookies before heading on to offer exquisite artisanal fare.
Got a thing for numbers? Plenty of companies need to hire talented contractors who are good at data analysis, making this a potentially lucrative side business idea if you have the right credentials and experience. Platforms like Upwork and Digiserved are but a two of many websites that are great for freelancers with an analytical prowess, looking for extra work as a side business idea around their full-time jobs.
Become an Amazon Associate and then use Keyword planner to find an in-demand niche: With more than a million different products to choose from and up to 10% commission the sales you drive, Amazon’s affiliate program is a great place to get started. Browse their available products and see what connects with you. Or take it a step further and use Google’s Keyword Planner to quickly check how many people are searching for a specific term. With affiliate marketing, the more relevant traffic you can pull in, the more you’ll make off your site.
And don’t forget social media as a home-based business. Many churches, other non profit charities, and business owners NEED to advertise via social media. You can either be hired to do theirs or become a consultant who trains their staff. Many churches don’t know the Internet laws like an avid social media user does. They’ll need someone to teach them how to use social media and protect their organization while doing it. Ask me how I know. 😉 My husband and I have worked with some organizations who refused to listen and they ended up with some scandals. Take a gander at what happened to Pastor Alios Bell’s ministry reputation when someone who knows social media happened upon her indiscretion at Applebee’s. Google it. It went viral.
Successful home business ideas let contractors, freelancers, and entrepreneurs be in charge of their own lives. Maybe you’d prefer to wake up late and take long lunches, confident in your ability to finish your work on time. Possibly you prefer to be your own boss, setting up best practices and ditching those quarterly reviews. Or, it could be that you want to travel or be at home for your family, and you view commuting as a pain.
However, with online employment comes fraudulent companies who scam job seekers into signing illegitimate offers. "There is currently a 61-to-1 scam ratio among work-at-home job leads on the internet — that is, for every legitimate job, there are 61 scams," says Christine Durst, cofounder of RatRaceRebellion.com and consultant to the FBI on internet scam.