There is a huge hype around entrepreneurship in the last few years. Everyone from everywhere is trying to put in our heads the idea that it is really easy to become an entrepreneur. Everything you need is the will, they say.
Yet, most of them are not even close, neither will ever be close, to making the commitment and taking the risk. It’s not their fault, the human mind was built that way. We just need comfort.
And the comfort of having a place to go, and someone else to tell you what to do and to discipline you, when needed, is just too convenient.
Even more convenient is the certainty of the fact that whether you were late most of the days, and you weren’t at your peak of productivity this month, you will still get paid.
The exact same amount that you received the last month.
Also, the hype around the fact that a few brilliant minds were colleague drop-outs is leading way too many people to the belief that they, personally, could also be successful regardless of their education level. But to compare yourself to a genius mind, that nevertheless had a huge amount of luck, is the worst thing you can do to your future.
However, this shouldn’t be a reason for you to not take the steps in the direction of financial freedom. Just don’t leave to drown in uncertainty. While it is somewhat needed and sometimes is giving you the thrills, the absolute uncertainty is way more harmful than beneficial.
Regardless if you are still a student, or are already part of the market, it is true that if you want to make a side business, you can.
But for that statement to be true, we need to make a few arrangements. First, don’t expect the venture to be able to cover all of your costs right away.
Second, though it is obvious, I feel obligated to say it, it will take time and effort to even find one customer.
With that said, let’s dive into these ideas for an online side business, while you are still working or going to a colleague.
1. Monetize your Hobby
This idea I believe already has passed through your mind. Especially if you have a hobby that you love, and devote all of your free time to.
Whether you are an enthusiast photographer, a writer, or a mock-up creator, you can always monetize your hobby.
In case you are into crafting things with your hands, you can take advantage of the enormous power of the huge markets that Amazon and eBay are. Of course, you can still use other websites for local advertisement. Don’t forget Etsy. This is the niche market for hand-crafters.
Still, if you are making really good products, and you really believe in them, I would highly recommend you to build your own website. By just taking this little step, you’ll be able to distinguish yourself from every other person that sells on those platforms.
When you are about to create your first website, there are a lot of questions that you need to answer. Believe me, those same questions stay, whether it is your first or twentieth website. With the experience, only the answers are coming easier and faster.
But we’ll try to make the process easier for you. Take a look at this how to make a personal website in 20 minutes article. Hope it gives you the answers to some questions.
2. Create & Monetize a Blog
Are you really into something that you can talk a lot about? Can you write 100 articles on some topic? Do you like the idea of having an audience that wants to hear from you and is impatient for your next article?
I hope so!
Then having a personal blog is exactly for you. Even if you are not a tech-geek per se you will be able to build your first website. It doesn’t have to be visually perfect. People that are going to visit your website, won’t go there for the looks of it. They will come to read what you have to say.
Read: 5 Working Strategies to Get Traffic to Your Blog
Say, you’ve already built your personal blog, and you gathered an audience that is visiting it daily. So, now you have to find out how to monetize that traffic. The good news is that there are so many ways to monetize a website, that you’ll be easily confused. The bad news is that if you never did it, you easily get confused.
Me, personally, I like the way of affiliate marketing. It has the highest ROI(Return on Investment). The only downside is that your customers have to buy the products recommended by you, in order for you to get paid.
Ever heard of affiliate marketing? Check this Affiliate Marketing for Dummies Guide.
3. Create a Digital Product or Course
If anyone says that the tech industry is not at a peak, he would lie. Hundreds of thousands of digital products are sold every day. If you are fluent in any type of hard-to-learn and complex software, you can either create a digital product or a course for other people to learn what you know.
Say you are a Photoshop Ninja, there are a lot of people out there that would pay you to teach them how to use it. On the other hand, if you are not feeling comfortable with teaching and mentoring, there are other things you can do.
Create and sell bundle mock-ups, or offer to design logos for startups. Depending on which is your strongest side in Photoshop, you can offer different services/products.
4. Buy and Flip Domains
In essence, domain flipping is the act of buying a desirable domain name and selling it for a higher price. Domain names like candy.com and insure.com were sold for $3 million and $16 million dollars. Of course, more or less the time of the deals of that amount is over.
Still, if you are watchful enough, you’ll be able to find a domain name of a value. Even if you are not to make millions out of this, you can make an extra buck each month.
5. Build a Portfolio Website
Do you have a collection of your own work? If so, let people take a look and appreciate your abilities. This could result in orders or a job offer. Yes, the second is not what you would call a ‘side business’ but still it will substitute the need of starting one. The goal of side business is in essence to get an extra buck. And if your portfolio website brings you a pay raise or a new job with a higher salary, it achieved the goal.
Read: How to Make an Online Portfolio
Creating a portfolio website serves one more purpose. It gives you credibility for you can create or do whatever you claim you can do. In other words, it confirms your abilities in the eyes of the audience you are striving to woo.
You have to know that a lot of people that want to learn how to do what you are able to do, will come to your website in order to get inspiration. Which presents you with yet another way to monetize a portfolio website. You can become an affiliate of any product or service that is close to your field of expertise.
If you are a freelance photographer, you can take advantage of the affiliate program of amazon.com. Thus, recommend the gear you are using to the inspiration gatherers. Just try to do it in a way that is not too obvious.
6. Become a Hosting Reseller
The hosting industry is at its peak itself. More and more people are going online. More and more people are creating, maintaining, and monetizing a website, personal blogs, and e-commerce shops. The main reason is, of course, the wide high-speed internet access.
And you can easily become the person that hosts their websites.
To resell hosting is to take advantage of someone else’s servers and to sell the service as your own. While this strongly reminds an affiliate program, it is much different in its core. The main difference constitutes the fact you are to build your own brand.
With a self-owned domain, your logo, and your marketing strategy, you are about to create a serious business with literally 0 budget.
Read: Why Big Companies Use Domains Owned by Them
Most hosting companies, that offer reseller hosting are not only paid but are not allowing you to take advantage of the so-called ‘White-Branding’. Meaning, that you won’t be able to take full advantage of all this reseller hosting market.
Yet, there are companies that will let you build your own brand. For free.
To conclude
There are a few obstacles that can stop you from making money online. Lack of time. Lack of skills. Lack of will. Lack of dedication.
Yet, all of them are vincible. You can learn on the weekends. And once you have the skill set needed, you can start working. Even better gather the knowledge, while working on your side business idea.
I am not trying to imply it is easy. Mainly because that would be a lie. But is it possible? It sure is.