Working in a Full-time Job doesn’t actually mean working full time of your potential or with interest. You can always spare some time to build something that you are passionate about, that you love, or, that you believe in. I think everybody will spare some time if it generates income and doesn’t really cost any peace of mind. So, I outlined a few businesses which might give you an additional income when done right.
- Dropshipping
Ever heard of selling items on Amazon or other E-Commerce platforms that you bought in bulk.? You can identify items that are top sellers on Amazon and buy them in bulk from other countries and resell them on Market places like Amazon and Walmart. You can have a huge margin while selling these products.
Pros: Easy to offer a wide range of products without buying upfront, you get to choose what is best selling and order them.
Cons: You don’t have control over your inventory, if your supplier runs out of stock, you run out of stock too.
- Freelance Jobs.
There are many online platforms where you can monetize your skillset. If you are good at Coding, Data Entry, Product Management and, etc., you can find contracts on freelance sites like Fiverr, Upwork, Freelancer.com. You can also take contracts from your own company and get them done by finding the right freelancers.
Pros: Flexibility in working on multiple projects. Higher pay rate than usual jobs.
Cons: Getting consistent projects is a little hard in the beginning.
- Network Marketing
All of us have been invited or reached out by friends or family to know about a Company or Product that helps us to generate a side income. We have been hearing about this side-business all our life but most of us don’t really know it is called Network Marketing. Amway & Tupperware are the most common examples of this. Although these two businesses are very saturated there might be some good Network Marketing companies out there to generate a steady side income.
Pros: Very good business if you have a good network that listens to you.
Cons: Have to be good at convincing people and accepting NOs
- Real Estate Ecosystem
Real Estate is a Huge Industry and there are many ways where you can start earning while working a Full-Time Job. Some of them include Real Estate Investing, Part-time Real Estate agents, Real Estate Flipping, Part-time Property managers, and Airbnb Hosts.
I would like to dig deep into this as this might interest many of our readers. So, a separate blog about different ways to generate income in Real Estate is loading…
There are many ways to make a consistent side income and I only outlined a few popular streams. If you are already into Stock, and NFT trading, try to look for streams where you can also monetize your professional skill.
Good luck with your efforts, See you in the next blog.!
Great blog AK
Very well explained and I hope that readers really can get extra income doing freelancing apart from their full time job through various online freelancing platform
Thanks Shabbir. Freelancing is one of the best ways to start.
Exactly!