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Monday, November 15, 2021

Nine Best Small Business Ideas For A Diversified Income Stream

For some people, their 9-5 job doesn’t fulfill their needs entirely. And let’s face it, even if your 9-5 career is rewarding, you wouldn’t mind an additional source of income that’s putting more money in your pocket. Not only this, for some of you, your full-time job doesn’t even give you any motivation, happiness, or satisfaction. 

Since there are many advantages to starting your own small business, it’s time to brainstorm and start a business on the side. You gain financial independence, have more control over your life, are your boss, and build equity. 

According to a survey conducted by an insurance company in America, they concluded that, out of 4135 US adults, 1033 own side business. Almost two-thirds said ‘more money is the primary driver of starting their business.

To start a business, step one should be to think of an idea that works for you. We have done the homework for you. You will walk away with some exciting small business ideas in this piece you can start from home. 

Sell Homemade Food

If you are good at cooking, you can start a small food business from home. You can either make your page, boost it, or give your contacts to a running food delivery platform. 

For a diversified income stream through any small business or for a better understanding of business and entrepreneurship, some people from different career backgrounds even enroll in MBA. For a career change MBA, they look at online schools. In times of a pandemic, earning an online degree is the only way to progress in education.

Freelance Graphic Designer

Set your timeline and work on your terms. Build a portfolio, start showcasing your work and start your business. A lot of freelancers start from platforms like 99designs, Upwork, Fiverr, or freelancer. 

From designing websites, social media advertisements, brochures, logos, billboards, and invitations, you can work on anything that inspires, inform, or captivates customers.

Make a profile on freelance platforms, show off your work through an online portfolio and start applying for work and work on your terms.

Another way is to make your own graphic designer page/website, ask your friends to share your work, and recommend you for small jobs that’ll keep you engaged.

Start A Blog

Blogging is your ticket towards gaining traction on your website (if you have one) or a way to sell your content online. You can either start it on Instagram if you are good with pictures and videos or start writing on a particular topic that you think would interest users.  

Once you gain several followers or readers, you can monetize your blog and earn through that. 

Create and Sell an Online Course

Whether you’re a math whiz, an English expert, or have any skills you’d like to impart to others, you can do that by selling it as a course. 

Creating an online course is easy through videos and presentations, and selling those courses for profit is a great way to gain traction in your industry and help increase public knowledge as well.  Take help from social media to get the word out and create a customer base.

Sell your Creative DIY Stuff

Good at creative arts and crafts? Create, advertise and sell.

Some people look mainly for affordable handmade jewelry, DIY greeting cards, home décor, event décor scented candles, handbags, t-shirt designs, or glass paintings. If you are this creative and enjoy making DIY stuff, make it and sell it.

The best thing about DIY is that DIY products are unique, creative, and affordable, which many people fall for and don’t think twice about buying.

Create and Sell Customized Wedding Cards

Customized wedding cards or any other invitation cards are just other things that people would like to spend. People are bored of the traditional, customary designs of invitation cards and always looking for something cool and unique to invite their friends and family to the events.

Be it a birthday party, anniversary dinner, or wedding ceremony, if you have the creativity to create some fantastic customized invitation cards with a picture on them, people are willing to pay for them.

Youtuber 

How can we not talk about YouTubers in this world of social media? Youtubing is just another way through which you can earn. This world has different categories of Youtubers, from beauty, gaming, technology to comedy, lifestyle, fashion, and DIY. 

You can pick and choose the category suiting your interest best and start talking about it. Once you gain subscribers, you can monetize your channel and earn through that. 

You will need patience and consistency to gain a following by uploading videos and maintaining content quality for monetization. 

Translator

Do you speak a foreign language? If yes, there’s a huge demand out there. The need for interpreters is predicted to grow by 20% by 2029. The industries which need translators the most are legal service providers, the manufacturing industry, financial services, travel and tourism, scientific research, and even the entertainment industry. 

You might have heard that Spanish and Mandarin are the most in-demand languages for translators. If you know a foreign language and thinking of earning through this skill, go for it.

Photographer 

Start by capturing pictures of your friends and family. If you get to know of a wedding in relatives, offer them to shoot. Build your social media presence and upload pictures there. Ask for referrals and reviews. Many businesses often grow by word of mouth, and so if photography and videography businesses. 

Start advertising on social media. Clients who are looking for photographers for their events would automatically see your ad and might check your profile out and book you.

Photographers and videographers earn a significant amount of money daily as people tend to spend big during special occasions without overthinking. 

Conclusion

For you to diversify your income stream, start from whatever you are good at. We all are blessed with skills; if one person is good at photography, another might be passionate about blogging. 

Your business can be anything, as long as it’s something you love doing or are passionate about. While you are clocking at your 9-5 job, see what you are good at, see if that can be monetized and adds value in other people’s lives. Use it to start a business and grow from there.


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Kiara Dawson
Kiara Dawson comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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