Wish to learn how to earn extra money at home and have no idea where to start?
In today’s guide, I will not only show you what to do but how to do it to improve the chances of success.
Here, I have compiled a list of perfect ideas to earn extra income from home.
You will notice that some of them take less time to start and are easy to earn with. Do not however ignore the ‘slow’ ones thinking they are of less importance.
This is because the ones you consider ‘slow’ gigs may end up bringing you more money in the long run.
I guess what I am saying is, you give each idea the attention it deserves.
One more thing:
It doesn’t matter whether you are employed or self-employed, you can still make money from home using these ideas.
All you need is to set aside a couple of hours per day, have a plan, and work on your plan.
How to earn extra money at home
Sell items online
Selling items online works for both those with businesses and those without.
If there is anything the coronavirus pandemic of 2020 has taught is that online shopping is a savior and we don’t need to pick shopping bags and head to the malls.
If you already have a business, this is your time to operate online.
If you are running a cake business, I bet your shop is closed by now.
Instead of playing the waiting game, go ahead and open an online shop.
To do that, you can either build a website or use a Facebook shop.
With the latter, you don’t need to spend anything.
All you have to do is create a Facebook page using your business name, upload pictures of your cakes, and let people know how to place orders.
On the other hand, if you don’t have a business already, you can create one online.
There is a lot of stuff you can sell online, for example, women’s shoes, kids’ clothes, etc.
Here, you will be promoting your products online from your living room and only go out when delivering the product to courier service.
Become a virtual assistant
Ever heard of freelance virtual assistant jobs?
It is nothing fancy, but just an assistant working remotely.
And by that, I mean from the home, beach, or anywhere you want.
Ideally, your work as a virtual assistant is to help your ‘boss’ to complete tasks that would rather consume most of their time.
As such, this task requires a person with organizational and proper management skills.
Here are examples of responsibilities you will take as a virtual assistant:
- Maintaining calendar and setting up meetings
- Making travel arrangements
- Handling billing and accounting
- Preparing and sending out email newsletters, etc.
As you can see, the job description looks somewhat close to that of an office assistant.
But instead of sitting in front of a desk all day, you are working from the comfort of your home.
Does this sound like something you’d be interested in?
Here are tips on how to get started
- Pick an industry or niche. Due to competition, you cannot afford to be a jack-of-all-trades. For example, decide to serve only clients in the real estate niche
- Understand what people working in your chosen niche mostly require help with. This can be easily done through a quick search online.
- Structure your proposal to include all the things they are struggling with. For instance, you can be a virtual assistant helping with digital marketing
- Start cold pitching clients in your industry. Go to their websites and contact them. Use Email Hunter to get email addresses of the executives
Remember to set your rates per hour.
As a virtual assistant, you can earn KES 2,000 per day on average depending on your clients and tasks. If you are only dealing with international clients, that number could be even higher.
Rent out your house
Another way you can earn extra money at home is by renting out your house.
There is a platform called AirBnB, that is revolutionizing how people find places to spend the night or two while traveling.
It is a huge force in the traveling industry now, and millions of travelers check it every day around the world.
I guess staying in hotels is getting more expensive, considering most of them hike the prices when the demand rises.
If you have an empty room, you can invite travelers to spend a night and pay per night.
All you have to do is sign up on the platform, upload pictures of your rooms, give it reasonable rates, and wait for clients to call.
To improve the chances of someone picking your house, and thus you earning extra money:
- Keep your rooms squeaky clean
- Consider furnishing with the latest tech necessities like strong internet connection, the back-up generator just in case
- Remind your visitors to leave a review after spending a night in your place. Testimonials act as social proof and will either make or break your business. So learn from them
How much can you earn from this?
On average, renting your home on Airbnb can bring you KES 11,000 per night. This depends on the location, condition of the rooms, and extra amenities.
If you wish to charge more, follow the above tips.
This goes to those of you who have transferable skills such as teaching, coaching sports, and personal training.
As a tutor, you have the choice to either hold face-to-face sessions with your students from your home or conduct everything online.
If you are proficient in a specific subject, say Chemistry or Biology, you can start tutoring high school students and earn extra money from home.
This approach is the best because even if you have a full-time job, you can still offer tutoring after work, which only takes at most 2 hours of your time.
On the other hand, if you are a personal trainer, there are a lot of people struggling to live healthily.
They are looking for someone to hold them accountable and help them through the challenging times of shading that extra pounds.
- Pick a skill you understand well. Remember you will be judged by the results of your students
- Have a system to follow. If you are a teacher, pick a manageable schedule and a simple curriculum. As for the trainer, have a workout routine and meal plans
- Decide your rates. How will you get paid? Per hour, project, or per session? Factor in how much you want to make.
This idea works best because you are tapping into what you already know and do.
If you have a way with words and can manage your time well, you can earn extra money at home working as a writer.
See, content is the king.
It is the reason why the internet is known as the source of information. While most of the content online is produced by website owners themselves, more than 70% of it is done by freelance writers.
As a freelance writer, you pick clients, set rates, and manage time all on your own, thus the need to be more time conscious.
To get started:
- Pick a niche. While you can decide to write about any topic under the sun, that is not advisable. The reason being, if you have a specific niche, you can build authority fast and eventually command higher rates
- Build a portfolio. This is nothing but your work sample to show your prospects
- Set rates and decide whether you want to be paid per project, retainer, or per hour.
- Start pitching your services. Go through websites and draw a proposal demonstrating how they are better off using your writing services
Once you land projects, deliver what you promised, and more importantly, ask for feedback from clients. This will help you improve as a writer.
Buy low and sell high.
You must have heard that like a million times and have grown immune to it, until today. I want you to pay attention because this has the potential to earn you a lot more money.
Here, you are basically selling an item for more than you paid for without adding any value to it.
You can start buying used furniture from students as they leave college or universities.
It’s more than obvious they will sell the items at a throw-away price as compared to what they bought it for.
Offer the same item twice the price to other students looking for the same items but cannot afford brand new ones.
Just make sure your price is not higher than that of a new product.
Creating e-books and audiobooks
Today, you be a published author without ever stepping into a publishing house or anything of such.
With the internet and a computer, you can write bestselling eBooks from home in under 14 days.
Here is what to do:
- Understand what many people are searching for online but with limited answers
- Research and compile the results into an eBook using nothing but MS Word. Then export the document as a PDF
- Price the EBooks fairly and since virtually no expenses, the margins are 100%.
- Promote the eBook to interested readers. If you wrote about women fashion, go to groups where members talk about fashion, and promote your ebook there.
Now, sometimes, people get tired of reading. When that happens, audiobooks come into play. It is the recorded version of the book.
The better part?
It doesn’t have to be your book.
If you have a nice voice, go ahead and create audiobooks.
If you have busy neighbors with kids or pets, you can approach them and offer to help take care of their pets or kids in exchange for a small fee.
All you have to do is be trustworthy, someone people can entrust with kids, and not worry about their safety while away.
If all goes well, this can turn into a day-care business, where all neighborhood brings their kids to hangout.
As for the pets, you can do the same.
Social media influencers
If you have thousands of social media followers, you can earn extra money by getting paid to post.
See, businesses are constantly looking for ways to widen the reach of their brands. If you can demonstrate how your audience can benefit them, you’ve got yourself a deal.
Do you see a lot of these so-called celebrities online promoting restaurants, clothing lines, etc.? They get paid a lot of money to do that.
This is something that doesn’t require an office, employees, or huge resources to start.
- Build a loyal social media following first. You can concentrate on one platform at the beginning, say Instagram.
- Be consistent with creating content
- Approach brands for endorsements and promotions
Depending on the size of your audience, you can earn upwards of KES 10,000 per post on social media. That is a lot of money considering this can be done in under 3 minutes and while still in pajamas.
You can make money by helping fellow consumers make a purchase decision. And this is the easiest thing you can do now and start earning extra money at home.
Do you see that blender, how about you hold your phone camera now, talk about what you like and dislike about it?
- Get an affiliate link to the product
- Post the video on social media
- Share your video widely to reach more people
If someone watches your video and likes it, they will definitely want to buy the same product. And if they use your affiliate link, you get a cut of the revenue.
Additionally, as you go on doing this, reviewing products, brands will definitely take notice.
Some will reach out and offer to pay you to review their products and share them with your audience. But to reach here, you need to first build a loyal audience. And not just any audience, it should be targeted.
You can decide to only focus on reviewing smart TVs in Kenya.
Since this is targeted, when TV brands approach you, you have higher chances of striking a better deal than if you were reviewing electronics in general.
Depending on sales volume, you can earn KES 15,000 per month reviewing products online. And if you get sponsored reviews, then can double or even quadruple your earnings.
Trading is a side hustle with huge potential to generate a full-time income.
Just like retail arbitrage we mentioned earlier, your job is to buy an asset when the price is low, and sell when it rises.
Luckily, there are several tools you can use to help predict the direction of the market. And if you are correct, you cash in.
But don’t be fooled, online trading isn’t easy.
First, you need to learn the ropes before plunging into the markets. You must master trading strategies using demo accounts, which are often free.
Once you are confident enough, go ahead and start making real money trading.
Wrapping up on how to earn extra money at home
Look around you, what can you do to earn extra income?
There are a ton of ideas right before your eyes. Go ahead and implement them.
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