28 September 2017

6 Tips To Earn Some More Money on The Side

In many countries, the number of people engaging in efforts to raise a source of side income has been on the increase. Take Britain for example, new research by Gumtree.com suggests one in four Britons are now making a second income through renting out their possessions, skills and time - the so-called "rentrepreneurs". This trend is seen in many other countries of the world.

So could you join the "rentrepreneurs" and make a healthy second income to help tackle your debts, boost your spending power, or save for your family? Whether you’re a student or working a 9-5 job, there are many ways to rent out what you have, make some more money on the side, and thus earn yourself a good second income. You just need to know them and be ready to give the required effort and commitment to making them work for you. SaibaWorld looks at six ways to get you started, and shares some tips for you to earn some more money on the side.

Six top ways to earn a second income

1). Consulting/Coaching

If you have a specific skill-set with adequate knowledge and experience, you can leverage on it and build a lucrative side business on consulting/coaching that’s quite easy and affordable to start. It can involve giving advice to a start-ups on how to build their public image, assisting start-ups with social media marketing and SEO work etc. The best part of this business is that you can build it to fit your schedule and free time.

2). Freelance Work

This is another flexible side business that doesn’t need long-term commitments. You can also adapt this kind of business to fit your schedule and free time. Becoming a freelancer can involve writing content for businesses, doing content marketing for start-ups and doing design work for businesses, which can include graphic designs, web designs, logo designs etc. It really depends on your talent, skill-set and interests. The best part of this is that there is a reasonably high demand for freelancers especially in the area of content marketing, social media marketing and design work.

3). Leverage On Your Vehicle

If you have a vehicle, you can cash in on it by registering with Uber or Taxify or both. The best part about this is that you can keep your keys by becoming a driver on the platform or hire someone to drive the car on the platform for you. However, when considering this option as a means to making some extra money, you should be sure that you are satisfied with the rate of depreciation of your car (because it will definitely be higher). You also have to consider the cost of financing the car and other maintenance costs.

4). Produce Crafts

If you’re good with your hands, are creative and love to create crafts and design work, you can use the talent to create jewelry, clothing, furniture or accessories, and can sell them to make some decent money on the side. The advent of social media has made marketing your craft work and designs much easier, as you can take advantage of Facebook, Twitter, Instagram and online shopping platforms like Jumia mall, to put your work out there and get it sold.

5). Photography

If you have good photography skills, you can purchase a camera and start doing photography jobs on the side. Photography is now big business, if you know how to exploit it, and you can start a very decent side business from it. However, in the photography business, it is best to carve a niche for yourself. Don’t be a jack-of-all-trades and master of none, you are unlikely to get positive recognition and referrals that way. You can specialize in weddings, capturing landscapes, taking fashion pictures etc. You can also sell some of your pictures to sites like Shutterstock.

6). Modeling or Voice-Over Work

Modeling is not all about having the perfect body and walking on the runway, there are different aspects of modeling. You can be a body model, hand model, leg model or even a face model, and earn some decent money from it. If you are really good at it, there is a chance that you get more recognition, and even attain a kind of 'celebrity status' from it, which of course means more money for you.

For the voice-over work, if you have a voice that’s great for voice-overs and you have some broadcast experience, you can earn some extra money by doing voice-over work for ad agencies, broadcasting houses etc.

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