Work from Home: Moneymaking Opportunities Worth Exploring in 2020 (and How to Succeed in Them)

Moneymaking Opportunities

Working from home is quickly becoming the norm, which means thousands of people are now trying to pursue various opportunities from different sources. Making money while working from home is no longer a way to earn extra money either; you can generate multiple revenue streams and make a serious living this way.

The growing number of people working from home means you have more competition, but that is not something you need to worry about. There are still plenty of opportunities to make money in today’s market. In this post, we are going to take a look at the best ones to explore and how you can succeed in them right away.

Buy and Sell Stuff Online

Platforms like eBay and Craigslist are not only useful for selling stuff you no longer need. Yes, they are great for selling personal goods and earning some extra cash, but the platforms are also filled with stuff that you can buy for reselling.

What you need is an eye for items that you can resell for a higher price. A good example is buying items that can be fixed or restored, and then selling it for a higher price. You can earn extra cash from home this way.

The key to succeeding in this business is reputation. You have to build your reputation by collecting reviews from customers. The happier customers you maintain, the easier it will be to sell future items and make more profit.

Cryptocurrency

The cryptocurrency market is still as appealing as it can be. Trading cryptocurrencies is a great way to make money online. As long as you can spot market trends and hot coins, you can spot a lot of opportunities to bank profits.

Trading cryptocurrencies is more exciting than trading traditional financial instruments like stock and foreign currencies. There is also a bigger community of traders to lean on, allowing you to get your information from more sources.

This is an opportunity that involves risks, so managing those risks is the key to success as a cryptocurrency trader. Watch out for ICOs and new coins whose values can go up by a significant amount too.

Micro-Gigs

Next, we have micro-jobs – also known as micro-gigs – which are becoming more common by the day. If you have a specific set of skills to market, you can easily find small gigs to work on. These gigs pay well now that existing platforms like Fiverr allow you to charge more.

Micro-gigs provide endless possibilities to make money. The only limitation is the time you have and the amount of work you can handle within that time. Services related to graphic design, videography, and even digital marketing are in high demand right now.

Once again, reputation is key if you want to succeed in this business. You will struggle to gain traction early in the game, but you will be able to win more clients the more projects you complete. Be sure to ask your clients to leave positive reviews and testimonials.

Referral Programmes

Referring customers to certain products and services is the next thing you want to try. In fact, it is one of the best ways to earn extra cash from home because you only need to worry about marketing. There are plenty of programs with high referral fees too.

The keys to success in this business are two things. First, you have to be smart when it comes to choosing referral programs and the products or services you want to market. For example, you can earn extra cash from home through Lebara’s Refer and Earn program.

Lebara’s program lets you earn up to £50 in referral fees by recommending customers to the company’s referral plan. The more people who sin up through your referral, the more money you earn in cash from the comfort of your own home. Lebara offers SIM Only plans from £5 to £35 with increasing amount of data, UK mins, texts and international minutes  With a large set of choices at hand,  you need to rely on the second key to success: knowing which market segment to target when doing your marketing.

Launch an Online Store

If you are confident about marketing products and services online, you can also consider opening an online store and selling products and services directly. To get started, you don’t have to develop your own products. Buying wholesale and selling retail work too.

Once again, the approach lets you focus on marketing, without having to worry about manufacturing and other parts of the supply chain. This means you only need to invest in the online store itself and the marketing campaigns that go along with it.

A good market understanding is what you need to succeed with this business. You have to know the products that sell well – particularly products that you can buy at great prices and sell for a sufficient margin.

Take Surveys and FGDs

If you are not comfortable with investing money from the start, then participating in surveys and focus group discussions, or FGDs, are the opportunities you want to seize. There is a growing number of surveys and online FGDs being conducted right now.

Surveys and FGDs pay better than you realise, but you have to find surveys that are conducted properly. On average, you can expect anything from £30 to £250 for completing a survey, and the surveys take only minutes to complete.

There is no secret sauce to earn money from surveys and online FGDs, but you have to be patient when searching for the ones to take. Hundreds of surveys pay less than the aforementioned average amounts, but many of them are not worth taking.

Host Webinars

As more people work from home, the demand for online courses and webinars is also growing. A lot of people are spending time learning new things and mastering new skills. This is an opportunity to share the skills you already have with a wider audience.

Webinars are easier to host these days. You have software like OBS and Zoom giving you a lot of tools to host your own webinars. Developing a series of webinars that attract a big audience is also very easy when you master a specific subject.

Topic selection and attractive content are the elements you need to succeed with this moneymaking opportunity. You also need to market your webinars to the right audience, but there are plenty of opportunities to do so these days.

Digital Marketing Services

There is an obvious theme found in almost all of these moneymaking opportunities; you can leverage digital marketing to gain traction and market your services. Digital marketing is something that businesses and professionals now use more widely.

If you are good with digital marketing, offering digital marketing services is an opportunity on its own. You can help local businesses do SEO, plan and execute marketing campaigns for new e-commerce sites, and even handle day-to-day tasks such as social media management.

To get started, make sure you invest in your own online presence. Your future digital marketing clients will Google you to learn more about your reputation, so take your digital marketing skills and build a strong online presence for yourself.

Get Started

There are still plenty of moneymaking opportunities to explore if you want to start making money – in a serious way – from home. The opportunities that we covered in this article are also very interesting to explore. That means there is only one more thing to do: get started. Find an opportunity that suits you best and work towards generating a steady revenue from that opportunity before moving on to the next one.

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