Creating an online income alongside your corporate job can be a great way to build financial security, gain skills, and achieve a better work-life balance. With the rise of the gig economy and the increasing number of remote work opportunities, it’s now easier than ever to create an additional source of income. That’s without considering the increased cost of living that we all face!
However, it’s important to remember that creating an online income takes time, effort, and dedication. Here are some strategies that can help you build a sustainable online business while working your corporate job.
- Freelancing: Offer your skills, such as writing, graphic design, or programming, as a freelancer on platforms like Upwork, Fiverr, or Freelancer. To be honest, these days you don’t even need to have your own skills. With the advance of AI (artificial technology), there are now more tools than ever that allow you to do things like; website creation, content creation, translating a language, copywriting, video editing, etc. It’s more more easy than ever and you can do these things at low cost. ChatGPT is great (and free) example of a hot AI tool that allows you to create content or get advise by simply requesting it! You advertise your services on freelancer platforms like Fiverr, and get the AI tools to do the hard work 🙂
- Online tutoring or teaching: Share your knowledge and expertise in a particular subject through online tutoring or teaching on platforms like VIPKid or iTalki.
- Selling products online: Start an online store and sell products on platforms like Amazon, Etsy, or Shopify.
- Affiliate marketing: Partner with brands and promote their products to your audience, earning a commission on sales made through your unique referral link. Affiliate marketing is a great way to earn an income around your job – especially if you don’t have your own product or service. You simply leverage an existing company’s products and go out and market that product. The company may even provide the marketing assets for you. On top of that, the company will deal with customer enquiries, refunds, fulfilment, etc, so you don’t have to! I am currently an affiliate marketer for four brands and it was my first online business while working in my 9-to-5 corporate job. When it comes to affiliate marketing, you really want to market a product you have used before and would happily recommend it to others. If you want help getting started with your own affiliate business – check out the same training that I used as a beginner.
- Dropshipping: Start a dropshipping business by selling products through an online store without having to hold inventory. Again, another fantastic online income source that leverages internet platforms like Amazon and its millions of customers. Before spending thousands on committing to a product – you should follow guidance on how to effectively build your ecommerce drop-shipping business.
- Blogging or content creation: Build an audience and monetize your blog or YouTube channel through advertising, sponsored content, or affiliate marketing. Again, ChatGPT can really help with this! But while ChatGPT (and other AI tools) can give you a start – you should definitely tailor the content to make it your own style.
- Podcasting: Start a podcast and monetize it through advertising, sponsorships, or affiliate marketing.
- Investing in stocks or cryptocurrencies: Invest your money into stocks or cryptocurrencies and earn returns through the appreciation of the value of your investments.
- Online surveys: Participate in online surveys and earn money for your opinions.
- Automated trading: This is a great strategy if you’re looking for passive income, i.e. invest once and earn returns daily/weekly. Automated trading or ‘trading bots’ will trade the markets for you automatically using a set strategy or settings that might tweak slightly. There are many in the market, but I use this one to earn me consistent daily positive returns, with a minimal investments.
By taking the time to get clear on your goals, identifying your skills and interests, creating a strategy, setting up a schedule, taking advantage of technology, outsourcing certain tasks, being consistent with your efforts, and learning from others, you can create an online income alongside your corporate job. Keep in mind that it will take time, effort, and dedication to make it happen, but the rewards can be well worth it.
Remember to also be mindful and keep the work-life balance healthy, the idea is not to burn out or neglect important aspects of your life, start small and grow gradually, review and adjust your strategies as you go and always be open to learn and evolve.