Individuals go into business for themselves to make a greater income than they currently possess, but few enter the realm realizing how much money they’ll need to survive their first years as their own boss. Widely accepted estimates for individuals starting a business claim it can take up to two years before the individuals see their previous job’s salary returned from the business.
That leaves individuals faced with how much money they will need to survive the lean years of their business. Some estimates call for 12-24 months’ worth of the previous salary as a nest egg to survive the first year of a business.
Few individuals achieve this saving expectation prior to launching their first business. Because of that, small business owners in their first few years search for other income streams to help keep themselves and their business afloat. The following list is several opportunities for making a side income to supplement their lost earnings.
Drive For Uber Or Lyft
If you have a vehicle, you have an opportunity to use it making a side income. Both Uber and Lyft are searching for drivers to provide riders a service, and Uber claims drivers can make as much as $19 per hour while providing these services. Individuals serve as independent contractors, setting their own schedule and choosing when – and if – the individuals want to work.
In addition to a decent vehicle, requirements for driving for either company include a clean driving history and background check. Individuals ready to turn their vehicle into a cash car can start by clicking here for Uber and clicking here for Lyft.
Side Income from Vehicle Advertisements
While individuals are driving around their cars for Uber and Lyft to make money, those same individuals – or anyone, for that matter – can add more value to their vehicle by placing advertisements on the automobile. Companies such as My Free Car, Free Care Media and AutoWrapped offer individuals a chance to sign up to have advertising placed on their vehicle in turn for cold, hard cash.
The money individuals can make is considerable, too, as these advertising entrepreneurs can pocket nearly $5,000 a year for a full-body car wrap. Interested individuals can sign up for free at any of the websites listed above.
Purchase Real Estate
This option requires an investment up-front with the potential for significant returns in the end. Purchasing real estate and selling it within a couple of years gives an individual liquid assets that are growing in value until the need to sell them arises.
One such area where property values are rising at a near double-digit rate is Turkey. Property in Turkey is growing at rates as high as 27 percent year-over-year in the densely-populated city of Istanbul. Individuals can find property in Turkey at several real estate web sites, including Spot Blue International Property.
Flipping these properties later on can bring heavy dividends. It might also be a good idea to invest your earnings into buying real estate in eastern European countries that might later be included in the EU. This can significantly improve the property value that you can cash in on when times are right.
Install Phone Apps
Many individuals may be reading this article on a device that can be used to make them money. Mobile devices – especially cell phones – can be a great source of income for individuals looking to make money by using certain apps. While some require purchases to give consumers rebates, other apps are strictly cash-earning opportunities, such as the following mobile device apps:
- Pact: This app is focused on getting individuals healthy while making money. Broken into three different options, Pact helps individuals track their health progress while earning cash for meeting their goals.
- Viggle: This app rewards individuals for watching TV or listening to music, rewarding individuals points for each action. The points can then be redeemed for gift cards at select retailers.
- Field Agent: This app asks individuals to research field marketing in their area. Tasks – paying between $3-12 each – include checking product availability, taking pictures of displays or participating in surveys.
- Shopkick: This app works for individuals who visit brick-and-mortar businesses for their shopping needs. Users of this app receive “kicks” that can be redeemed for gift cards for tasks as simple as walking into a participating store.
Sell Items On eBay
While individuals can sell personal items on eBay, this opportunity is far richer than that. Wholesale companies – like SaleHoo – allow individuals to purchase items at wholesale discounts for resale on online shopping outlets like eBay or Amazon. This is almost a business of its own without the worry of creating the products being sold.
This opportunity allows the individual to purchase an item cheaply from a distributor, then selling the item at a fair retail price for a decent profit. The time required for this opportunity is the time to market the item, making the individual the middle man for the distributor.
Outsource A Skill
Individuals with marketable skills such as graphic arts or writing are in-demand online. Websites such as Freelance.com and Upwork.com (formerly O-Desk) boast of more than one billion dollars being invested by individuals or companies for contracted labor between the two companies. Respected contractors can command a higher amount, allowing individuals to earn a livable income without setting foot out of the house.
Individuals who don’t possess these skills still could have other marketable offerings. Tutors remain in high demand locally and online. Websites such as Tutor.com and Studypool.com are constantly seeking qualified tutors to assist students willing to pay upwards of $20 per hour for sessions.
Share An Opinion
Individuals giving away advice for free are undercharging for their service. Companies – such as Pinecone Research, Viewpoint Forum and Ipsos – are willing to pay individuals to take surveys in exchange for rewards and cash. Surveys usually last between 20-30 minutes, and some companies allow unlimited surveys, putting a greater earning potential within reach.
Individuals who aren’t thrilled with surveys can still share their opinion online as jurors. Websites like eJury.com give lawyers an opportunity to test their case on a mock jury, very similar to a focus group for a product line or service. Individuals review the case being presented and then decide the party’s fate, giving attorneys an opportunity to find a successful argument with a payout to mock jurors ranging between $10-50 per case.
Have More Side Income Ideas?
There are many other things that one can do to earn on the side. We would love to hear some of your tips or closely guarded secrets that can help others; it is time to share them in the comments below. Remember sharing is caring!
Some great tips and ideas here for a side business/income. Its becoming harder to sell items on Ebay though as the seller’s fees are higher than ever. Thanks
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Great ideas for money making , selling LIC policies , digital marketing to add
Much obliged to you again for all the information you distribute, Good post. I was extremely keen on the article, it’s entirely motivating I ought to concede. I generally go over fascinating articles like “7 Ways to Make a Side Income While Working on Your Business”.
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Hello guy ,
You have shared a great post and all of your side incoming steps are very useful.
eBay is the best and am a regular seller on eBay India market only selling womenswear (patiala pants) and i make more than 50% of profit on each profit. The good think is any one can start easily. no registration fees, not required to submit any business documents. Thanks for sharing mate!
As this major you can earn money with amazon.com just online place link product and promote for them and get earning.
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Very informative post . Really I’m inspire to see your income tips from a side . Feeling just awesome after seeing such helpful post here . So a lot of thanks for such informative post sharing here .
Hello guy ,
You have shared a great post and all of your side incoming steps are very useful . hopping everyone will beneficial here .
All of these are great ideas to make a side income. Drivers who own a body wrapped car can pocket a lot of cash!
This is good idea for making money through online. This is very useful for me and others.
Your process should be working well as i found many effective things from your post. i will try with my business hope it will work for me and thanks for this excellent post.
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this is Some real advice; if you are thinking of getting into property plan well in advance, learn everything there is to know about buying and selling property and lots about the process of renovation as this will sink you overnight if you get caught out.Thanks for shared other ideas and its may implement in further. thumb’s up
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constantly seeking qualified tutors to assist students willing to pay upwards of $20 per hour for sessions.
Do your own blog with what are skills and habits you have and familiarized.
I have negotiation skills. so i do Real Estate Agent Service. if you have drawing, photography, cooking or something else then do it in your own way and just share it on your own blog. After reached decent visitors apply for Google ad-sense and other third party Ads on your website.
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Great article. although it is my understanding that all these side businesses require time, which usually working people lack. I believe you should have at least trice your investment to start an entrepreneur business. Thanks for sharing.
Amazing post !! I am in favor of make money online since there are many obvious advantages for people who make money online instead of working offline .Keep writing on such great topics.
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Great post with amazing ideas. A great side income would be tutoring people. There are a lot of sites out there that offer this kind of deals or have meetings and conversations with them.
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I had no idea you could make that much extra money just for advertising on your car. That is definitely a good way to make money without doing anything. Thanks for the tips!
I very much appreciate the author for sharing the information. Recently i have resigned my job, to begin a small work from based start up. I really appreciates this article as it could help me in earning some money.
Thanks Ahmad for this . It’s a Good idea to make some money from Ebay ,i have to take action for this .
Hey thanks for sharing the idea , it might be very useful in the further when i establish my biusness.
hi
this update is most useful for me because i am building eCommerce website.
thank you so much.
Thanks for this useful post, which helps to maintain the side business while working in the main stream of the business.
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keep it up i realy like your blog thanks for this informative post Hello Mr, Ahmad I’m impressed to your content writing because at first you set or determine which topics you have the best. By the way I have one website, it’s clippingpathindia.com mainly it is remove background service providing work so in this case I’m thinking how will more way I have earned money. The good news is, I found some crew from your article.
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Thank you so much for sharing this blog. it will help me for making money online. so thank you so much for sharing it.
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This article helped me earn money from online business , I want to try all of his above
Hi Ahmad, I would say that suggesting to flip properties as a part time venture is some dangerous advice and suggests this process to be a side line with little risk or the need for lots of hard work and or learning and research! Some real advice; if you are thinking of getting into property plan well in advance, learn everything there is to know about buying and selling property and lots about the process of renovation as this will sink you overnight if you get caught out.
Thanks for shared other ideas and its may implement in further. thumb’s up… 🙂
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Hello Ahmad Raza, I have visited on your website, you article is very helpful and informative. I have got more ideas on your blog and add my knowledge. You have explained very well, Thanks for sharing…………….
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Hi Ahmad,
Every one wants an extra income and your post is really sharing some awesome tips. And let me tell you the source of my extra income is upwork.com. Beside my blog i do get a extra income from upwork.
And thanks for sharing the post.
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If you’re still not sure what activity to do to earn extra income, assess your passion and skills and know how you can make money from it.
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Really informative post. 2016 is a year one needs to build and follow successful business hacks like this. This would be my next substance for internet marketing.
These suggestions are nice. I actually would be checking out the surveys. If someone would pay for my advice, why then have i been giving it out for free?
Hoping to start earning some cool side cash soon.
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Hi Towab,
You could increase income by listing your services on more sites where people are looking to hire you.
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All ideas are good but I like reselling on Ebay is a good platform to increase earning.
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When ever shopping online get your affiliate link from the shopping cart. place it on your own blog. I am sure on good morning you will start to earn on wallet.
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Doing Real Estate is much more valuable than other things. Because we can earn lump sum amount of money without big investment and too much time spending, i am so proud and happy for being a part time Realtor. But license is needed in the US.
1. Affiliate Marketing
When ever shopping online get your affiliate link from the shopping cart. place it on your own blog. I am sure on good morning you will start to earn on wallet.
2. Your Own Blog
Do your own blog with what are skills and habits you have and familiarized. I have negotiation skills. so i do Real Estate Agent Service. if you have drwing, photography, cooking or something else then do it in your own way and just share it on your own blog. After reached decent visitors apply for Google adsense and other third party Ads on your website.
3. Domain Name Reselling
Buy domains and sell it to the needy.
These are some of my suggestions.
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That is the true spirit of this community, thanks for sharing your tips Jenifer 🙂
I started off as a domain flipper so yea, domain selling is a fairly good business model, these days Chinese are heavily investing into buying 4 letter .com domains, buying and selling them can have a decent return.