Coronavirus has affected many livelihoods this year. In fact, it’s estimated that four out of five jobs have been affected by the pandemic worldwide. But even if you haven’t been directly affected, we probably all know someone who has directly bore the brunt of the virus. And with another lockdown looming, it seems the economy might be taking another hit.
As a result of all these events, many people are frantically searching for income opportunities. Luckily, there are now more opportunities to make money at home than ever. The Internet has especially provided many options for you to choose from.
Here are three ways you can make money from home during the coronavirus lockdown:
Take Up Blogging or Vlogging
If the idea of building something new is enticing, then blogging and vlogging could be your cup of tea. Now that you have a lot of time on your hands, why not share your experiences or skills?
Setting up a blog is one of the greatest ways to build an income if you’re good at writing. Starting a blog is not as complicated as it may seem:
- You need to discover your niche by choosing one area of your interest or what your target readers are interested in
- Choose a domain name, which is primarily the web address of your blog
- Choose a blog template to suit the taste of your design style
- Once your blog is set up, you can then create content that is captivating and educating to your readers
You can also check established blogs and see the kind of content you can publish. For example, Dollar Financials, a personal finance blog, offers valuable tips on how to make, save and manage money.
Vlogging has also become popular nowadays. It’s similar to blogging, only that you create content in the form of videos. Vloggers post their content on video streaming platforms, such as YouTube. Setting up a vlogging channel is easy, but it might take you quite some time and effort to earn a decent income from it.
Just remember that patience and effort are key when building an income from blogging and vlogging.
Become a Freelancer
Do you have a valuable skill that’s in demand? If so, then you can easily make a decent income from home during the lockdown. Many companies and businesses all around the world are increasing their demand for freelancers.
As a freelancer, you work with a company without being directly employed — think of a consultant who provides their services to clients in specialized fields. Your career is in your hands., and you can take up as much work as you can.
Basically, your income is directly proportional to your efforts and the amount of work you do. Most common industries to find freelancers are graphic design, photography, and copywriting.
However, building a career as a freelancer isn’t just a walk in the park. While the idea of working at home with your sweatpants while sipping your favorite cup of coffee might be appealing, top-earning freelancers must have patience, resilience and tenacity.
You also need to build a captivating portfolio that demonstrates your skills and experience to entice clients, as well as top-notch Internet marketing skills.
In dropshipping and reselling, you don’t necessarily need to have goods or products in stock to resell to third-party buyers. In layman’s terms, a dropshipper operates as an online broker. The customer orders a product from you; you then send the information to your dropship supplier, and the supplier delivers the product to the buyer.
This is a remarkable business model as you don’t need to have significant startup capital; nor do you need a college degree. Also, you can build a good dropshipping business with good Internet marketing skills.
To start a dropshipping business, you need to find a product that you’re passionate about, has demand from consumers, and is profitable. Then you should register your business name, acquire state and federal licenses, decide on a business model that suits you best and carry out competition research. Next, partner with the right supplier and build an e-commerce website using an e-commerce platform.
You should also make a customer acquisition plan that will allow your business to generate sales. Social media presents a perfect opportunity for dropshipping businesses to scale faster. You should consider other Internet marketing opportunities too such as search engine optimization (SEO) and email marketing.
Analytics tools can be used to track the growth and performance of your business, and identify where the majority of your customers are coming from and focus your efforts on that platform. They will also tell you what isn’t working for your business so you can eliminate it.
The Bottom Line
The coronavirus pandemic has affected many livelihoods this year. But there’s no need to fret as there are now many opportunities to make money from home during the lockdown. And although these opportunities will require effort, patience and resilience, they offer everyone the chance to earn a decent income.
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