Entrepreneurs are an enterprising lot. They can come up with brilliant ideas that defy the norm and challenge beliefs, and some are really not half bad. (Just look at Bill Gates, Steve Jobs, Warren Buffet, Mark Zuckerberg, just to name a few.) However, not all budding entrepreneurs have the bundles of cash at their disposal, so if you’re looking to start a business, here are a few ways for you to make some side income to make your entrepreneurial dreams comes true.
#1 – Real estate investment
As we’ve covered before in this article, investing in real estate is a good way to earn some extra income, be it from being a landlord, or flipping properties for a profit. It may be slightly more tedious, as it involves being knowledgeable in topics ranging from real estate to legal lingo to reading the property market, but the returns can be highly lucrative for those who dare and succeed.
#2 – Chauffeur service
If flipping properties is not your thing, maybe being a driver will prove to be a better solution. Gone are the days of taxis. Nowadays, apps like Uber not only offer users ‘private driver’ services, it also allows regular people to make money driving around taking passengers during their free time. Many Uber drivers are part-timers who utilize their spare time driving people around to make money, and at the same time leverage on the networking opportunities with their passengers.
#3 – Outsource your skills
Websites like SkillPages allows users to display their skills (e.g. playing musical instruments, website design, document editing, magic tricks, lawn mowing, maths tuition, etc) through multimedia like an online resume. Other users can post jobs looking for people who match the skill criteria, or contact people on the platform that have the skills they are looking for. It’s a great way to outsource your personal or unique talents to earn side income while expanding your network.
#4 – Go part-time
The more traditional way to earning side income is to get a part-time job, either during your free time after working hours or on weekends, like babysitting, retail or private tutoring. There are also many part-time jobs that can be done online that do not require a specific date or time, such as data entry or document editing. These allow a flexible work schedule that can be integrated into your daily routine, while adding a little to your income.
#5 – Rent out your room(s)
With more and more young travelers opting for affordable accommodation options while on holiday, consider renting out your home or room via listing on Airbnb. This is a great idea if you’re often away for work, or simply have an extra room to spare.
#6 – Sell stuff online
Thanks to the popularity of online shopping, buying and selling items online has never been easier or more widespread. Sites like eBay and Taobao are great platforms for starting your own online shop, while local Malaysian apps like Carousell and Duriana allow users to sell off their new or pre-loved items for some extra income.
#7 – Create customized items
Your hobby or talents can also help you to make some extra dough on the side. Sites like Etsy allow users to sell one-of-a-kind customized craft items, while artists on DeviantArt can make money off their art by selling prints and digital downloads or creating commissioned artworks.