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Anand

Side Hustle Success: How to Build an Online Income While Working Full-Time

start a side hustle alongside your corporate job

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.

  1. 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 🙂
  2. Online tutoring or teaching: Share your knowledge and expertise in a particular subject through online tutoring or teaching on platforms like VIPKid or iTalki.
  3. Selling products online: Start an online store and sell products on platforms like Amazon, Etsy, or Shopify.
  4. 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.
  5. 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.
  6. 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.
  7. Podcasting: Start a podcast and monetize it through advertising, sponsorships, or affiliate marketing.
  8. Investing in stocks or cryptocurrencies: Invest your money into stocks or cryptocurrencies and earn returns through the appreciation of the value of your investments.
  9. Online surveys: Participate in online surveys and earn money for your opinions.
  10. 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.

start a profitable online business today.
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Anand

Get Rich While You Sleep: The Best Passive Income Strategies for 2023

passive income strategies in 2023

You hear about making money online, best passive income strategies, passive income ideas, how to make passive income, passive income 2023, side jobs, hustles, etc….but if you’re looking for ways to diversify your income streams and achieve financial freedom, passive income is integral.

In fact, more people than ever are searching for passive income strategies online and seeking ways to earn extra income. Check out this chart from Google Trends showing how ‘passive income’ searches is on the rise:

Passive income searches on the rise over the last 5 years

Passive income is defined as income that is generated with little to no ongoing effort, allowing you to earn money while you sleep. While earning passive income does often require some upfront work and effort, it can be a great way to build multiple income streams and achieve financial independence.

Here are some of the top passive income ideas to consider:

Renting out property: One of the most popular ways to earn passive income is by renting out a room, apartment, or house on Airbnb or through a traditional lease. This can be a great option if you have a spare room, a vacation home, or an investment property that you’re not using all the time. By renting out your property, you can earn money without having to do any additional work. Just be sure to consider the time and effort involved in managing a rental property, as well as the potential risks and legal considerations.

Dividend stocks: Another way to earn passive income is by investing in dividend-paying stocks. When you invest in a company that pays dividends, you’ll receive a portion of the company’s profits in the form of regular payments. Dividend stocks can provide a reliable source of passive income, although the amount you earn will depend on the stock’s performance and the dividends it pays. It’s important to do your research and carefully consider the risks and potential rewards of any investment.

Peer-to-peer lending: Online platforms like Lending Club and Prosper allow you to lend money to individuals or small businesses in exchange for interest. This can be a good way to earn passive income, although it does involve some risk. It’s important to carefully evaluate the creditworthiness of potential borrowers and to diversify your investments to minimize your risk.

Creating an online course: If you have expertise in a particular subject, you can create an online course and sell it on platforms like Udemy or Teachable. This can be a great way to earn passive income, as once you’ve created the course, it can be sold over and over again. Just be sure to put in the time and effort to create high-quality content that will appeal to your target audience.

Building a drop-shipping store: A drop-shipping store allows you to sell products without having to hold any inventory. You can partner with suppliers who will handle the fulfillment process, allowing you to focus on marketing and sales. This can be a low-risk way to earn passive income, although it does require some upfront work to set up and promote the store.

Creating a mobile app: If you have a great idea for a mobile app, you can create it and sell it on the App Store or Google Play. This can be a lucrative way to earn passive income, although it does require a significant amount of upfront work to develop the app and get it approved for sale.

Affiliate marketing: Another way to earn passive income is through affiliate marketing. This involves promoting products or services on your website or social media platforms and earning a commission for each sale made through your unique referral link. This can be a good way to earn passive income, but it does require some upfront work to set up and promote the products or services. If affiliate marketing interests you, check out this expert training to help you launch your profitable affiliate marketing business.

It’s important to note that earning passive income generally requires some upfront work and effort. However, with the right strategy and a bit of perseverance, it can be a great way to build multiple income streams and achieve financial freedom. As with any financial decision, it’s important to do your due diligence and carefully consider the potential risks and rewards of any passive income opportunity before getting started.

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