Business
Side businesses for multiple income stream
By ADEBAYO OBAJEMU
In today’s Nigeria, it is no longer a wise decision to rely on salary to maintain an average household. Job security, aside harsh economic climate is increasingly under strain. To keep afloat, households must source for other engagement to complement the salaried job. In other words, family heads or individuals must look for multiple stream of income.
To get to that level, one must look for side business to maximize opportunities. Many have long concluded that one should either be career-driven or have an entrepreneurial mindset to earn money.
However, it need not be so. In this modern period, career-oriented individuals are looking for opportunities to maximize their profits, and one of the best ways of doing this is to invest in a side business.
It is quite pertinent to state that doing any side business will depend on factors such as time, skill and capital. Hence, it is critical to first weigh these variables before you delve into business.
Some of the businesses that can readily come handy are:
- Blogging: Many are not aware of the immense possibilities in blogging. There is untapped potential in blogging. The most important thing to consider is to deliver brilliant, unrivalled content of great quality.
While there are lots of people involved in blogging, not everyone does it right. You have to create a niche for yourself and decide what topics to focus your writings on. Then you work on building an audience for yourself.
- Podcasting: This involves creation of regular podcasts on topics that you care about, and find an audience that shares that interest.
If you do, then this is a great way to earn some spare money, while you keep your job. Listen to great podcasters and adopt one or two techniques from them. The more your audience grows, the more money you make from your podcast.
- Graphic Design: While you may be working as an entrepreneur or an employee, boosting your portfolio in designs and illustrations is a great way to sustain your professional career.
Graphics designers are in high demand currently; as such, having prior knowledge of graphic design is a plus. However, it does not mean you cannot start from scratch and be successful. With creativity, dedication and graphic design tools like Corel Draw and Adobe Illustrator, you can be paid to create images and designs.
- Influencer marketing: This is a 21st-century business. It is a form of social media marketing that has to do with endorsement deals and product placement.
People that do this type of marketing are mostly celebrities or people with a large following or fan base across social platforms. Getting into this type of business does not require much in terms of capital. You will need to create viral, yet exciting content that will drive people to your page, convert those page visits to follows and make an active follower base.
You can reach out to companies directly, or they can contact you if you have gained a large fan base.
- Social Media Manager: Social media managers are in charge of representing companies or brands online. You will be required to create engaging contents, respond to comments and enquiries, and compile campaigns to increase visibility. It is essential to have a number of skills at your disposal, and an active online presence as well as the ability to follow trends immediately.
You are solely responsible for providing recommendations and advice necessary to enhance the brand’s online presence. The beautiful part is that you can do it from anywhere.
- Fitness Coach: As a personal fitness trainer, you can work part-time while you keep your job full time. This is a double earning side business because you earn money and still get to keep your charisma and physical fitness. You can provide instructions, workout sessions, training and challenges to help other individuals stay in shape.
You can also create manuals and booklets on healthy living. The best part is that you can do it from the comfort of your home. With time, this can become a full-time job. Check out professional trainers for tips on how to become one.
- Trading: You can become a professional foreign exchange trader or a Cryptocurrency trader. Your job will involve learning about foreign exchange or Cryptocurrency markets and educating people on that. You can also buy and sell these financial assets, as they are highly sought after in the market.
- Content Writing: Content writers are internet-savvy, tech enthusiasts that specialize in providing relevant content for websites and companies. Content writing these days goes beyond just putting words on paper.
Every business has a specific audience, and it is your job to provide relevant content for said audience. You have to stay at the top of your game to remain relevant. There is not much needed in terms of investment to be a content writer. You just have to write and keep learning.
- Online Tutoring: Another great way of making money online is by offering paid courses on any topic you have garnered expertise on. You can create a Master-class or go as far as creating an eBook. The important thing is that you know what you are teaching.
It can be as mundane as offering cooking classes or teaching people how to optimize their living space. You can even provide a free course on basic training to attract people and have them pay for more advanced training. You just have to understand the market and use whatever sales strategies needed to sell your skill. Monetize your knowledge.
- Uber Driving: This is another excellent way for you to make money and be your own boss. You can do it yourself or even contract someone to do it for you. If you have a personal car, you can use it after work hours or during the weekends to drive people around and earn money. Better still, you can make some arrangements with a car dealer and use theirs instead. Whatever way you decide to go about it! One thing is certain – it would be a win for you.
All in all, aside business has a lot of wonderful advantages. Besides being another source of revenue, it is also a great way to broaden your horizon and add to your repertoire
