Having a side business can help you earn that extra buck or even provide you the opportunity to make the transition into new career paths if passion beckons.
With the rising cost of living, many are looking for a second, even third source of income for that extra backing.
Starting a part-time business has its upsides. You don’t have to show up at fixed hours and you can use the skills you already possess at your own pace and flexibility.
If you’re keen about developing a business idea that you’ve been toying around with and has done all the necessary research to back up your business plan, you can clinch that title of an entrepreneur sooner than you think.
Here are some quick ideas to think about for your potential side business.
Skills Always Come in Handy
Image by HuffingtonPost
You can freelance or outsource your skills. You name it – photography, web designing or personal fitness training or writing. But each of these do take time so choose carefully so you don’t compromise the quality of your actual job.
It is easy to decide what business you should do – choose the one that you are most knowledgeable about. Without doubt, strong background knowledge is crucial for any business.
So don’t underestimate the skill you have and make a good use of that skill you’ve already developed. You can devote your weekends or off days or maybe even after hours to a freelance job of your choice.
Image by Tech Crunch
If you have extra room in your house, you can actually rent them out to visitors on Airbnb. If you are a property investor, this idea will certainly fill in the pockets while you wait for potential tenants. It’s always good to make money on your property when you’re not using it.
Airbnb also makes renting convenient. You can market anything from a couch to a luxury home. The site is cautious with your personal information too besides the 24/7 customer service for guests and hosts so your safety is pretty much a priority.
Plus, it’s a great way of meeting new people and making new friends. And if this goes well consistently, your mortgage or entire rent can also be covered by just hosting guests on Airbnb.
Image by Tech in Asia
You don’t need to make something from scratch to sell it online. You can always trade on the Internet. Start small and buy products, repackage them or enhance them and sell them for profit. Some make profit by buying goods from wholesalers directly and selling them to the public without the middleman service. Others may also source for something unique such as vintage or antiques at a lower price and resell them at a higher margin. You can also sell your own items and make it into a side business. Unload the stuff you’ve not used or rarely use and earn back the money you’ve invested through sites like Carousel and Buy and Sell. Platforms like eBay and Lazada can also be great digital venues for you to buy and sell items to get your business going.
Cook, bake, host, sell.
Pic from Plate Culture
You’ve got a knack for good food? Better still, can you cook and host people? Has friends and family given your rave reviews about your cooking? Then you can open up your home for guests to dine in through Plate Culture, a dining platform that allows you to cook and entertain strangers at your home. Not to worry, Plate Culture is pretty thorough with their screening and guests will have to make upfront bookings and payment before you can liaise with them on their needs. Yet, another awesome platform for you to meet people, flex your skills and show off a little bit about culture. You just need to work hard initially to gain entry into the Plate Culture database but once you are in, its really dependent on how much time and energy you would want to invest into it to make things work.
Similarly, if you bake, you can easily start an online business. Your friends, peers and family members would serve as your first catchment area. Get them to put out a good word to their network of friends. This business will never grow old because people are always celebrating something so if you’re smart enough to brand yourself and your oven works, you’ve got yourself a lucrative pool of income.
By Chris Tan