Have you been kicking around the idea of taking on a side job to build up some extra financial resources? Every year, millions of otherwise fully employed people add income-earning hours to their schedules. And, when they can’t get overtime where they’re currently employed, they create their own opportunities. The good news is that even when the economic outlook is relatively bleak, there are plenty of things you can do to make a few extra bucks. In fact, for those who are persistent and patient, it’s actually possible to bring in much more than just part-time money from a side job.
The adventurous types who enjoy trading often turn to day trading of penny stocks one or more days per week. Others are more suited to start their own e-commerce stores as resellers of goods or providers of services. A few of the more popular side gigs you can do from home include vehicle flipping, and becoming a domain name broker. Here’s how to get started in each one.
If you have a favorite product or service, something you either know a lot about, can make, or are willing to resell online, then e-commerce might be an apt choice for your new business. The key to success in selling goods or services online is patience. The marketplace is huge, but in many niches, competition is low to nonexistent. Consider how your item or service is different from all the similar ones out there and expect to spend at least six months working on the advertising and promotion end of the effort.
It doesn’t cost much to start a day trading business from your home. In fact, if you already have a high-speed internet connection, a good monitor, and a comfortable chair, you’re ready to start learning the trade. Investing in a day trading business is more about time and your initial account deposit that acquiring new equipment or office space. An interesting and potentially lucrative ways to begin is to trade penny stocks. One reason these low-priced shares are ideal for day traders is that their prices tend to move more often and to a greater degree than high-priced shares. An excellent way to get started is to review a comprehensive list of penny stocks that identifies the ones that are most suited for day trading. Then, you can access this tool whenever you need it and see an updated, current list of tradable penny shares.
Vehicle reselling, also known as car flipping, is one of the hottest side gigs of the 2020s. You’ll need enough startup capital to acquire at least two vehicles and get them fixed up and ready for sale. If you have mechanic skills, all the better. Note that some jurisdictions require a business license for flipping, so be sure to check your local laws before you get busy reselling cars for profit.
Domain name selling has gained a large following in the past decade and continues to attract new entrants into the field. The job is easy to learn, can be done 100 percent from home, and requires little initial investment. You make a profit by purchasing unused domain names and reselling them to others.