Do you cringe each time you get to the check out counter at the grocery store? Are you weighed down by a job that pays too little, while the price of most everything you need is skyrocketing? If so, you're not alone.
Household budgets, even those with two incomes are just not cutting it these days. As a matter of fact, according to a recent Gallup poll, about 56% of those who live in the U.S. are experiencing economic stress due to inflation.
Options for Increasing Your Income
Unless you're able to increase your income, you'll be stuck in a never ending cycle of robbing Peter to pay Paul and the stress that goes along with that.
To increase your income, here are a few options that can help along with the pros and cons of each:
Side Hustles Can Help Increase Your Income
If you're looking for ways to start a side hustle or full time business with something you would enjoy, that doesn't require a lot of upfront money (or ones that can be started for free), here are my top twelve recommendations and why I think they are perfect ways to get started.
While each option listed above has its pros and cons, starting a side hustle is the easiest way to increase your income with flexbility, doing something you enjoy. This is a good option if you're someone who is computer savvy and comfortable navigating the Internet and social media. Starting a business online eliminates (or greatly reduces) the traditional hurdles that most new ventures face. This means your potential is unlimited, if you can make it work.
Successful business owners are able to improve the lives of others by hiring staff as their business expands, improving the communities where they are located.
Flexibility and the Ability to Work from Any Location
Starting an online business or side hustle makes it possible to work from any location, at any time. This means that you can work while other members of your family are asleep or at school or work.
You can also work on administrative things like answering email and chat, posting on social media using your cell phone, as you're going through your day. If you're working a 9 to 5 job, you can work while on your lunch hour or during breaks.
Flexibility has been a big driver for working from home on at least a part time basis for a long time and it' really exploded during the pandemic. Having having a flexible schedule is really important to a lot of people right now.
Other reasons for the average person includes a desire to be their own boss, turning subjects they're passionate about into a business they love. Entrepreneurs who aren't afraid to fail can learn from failures, which can lead to growth.
Which Business Structure Will You Use?
One of the first things you'll want to do if you're serious about starting an online business is to determine which business structure will work best for you.
For more insight on the legal side of things, check out our article that talks about the differences between running a business as a sole proprietor and as an LLC.
Business Ideas You Can Start Today
Here are 12 businesses you can start, that don't require a large outlay of money:
1. Start a Blog
Blogging is one of the lowest cost options for starting an online business. There are also opportunities you can take advantage of that you would have a harder time getting into without one.
Blogs are essential sales and marketing tools that have helped to launch many successful online entrepreneurs, giving them a platform they can use to take advantage of a wealth of opportunities.
For example, once you build a blog you can use it to build affiliate partnerships, promote digital and physical products, start a video channel and offer online courses and webinars.
If you're thinking about starting a blog, check out our blogging page that's full of resources you can use to get started.
For example, if you're interested in building your own site, we have a free course that shows you with step by step videos and written instructions, how to set up a self hosted WordPress site. In the course you'll also learn how to start blogging to generate income from your blog.
You'll be able to access a comparison guide that shows you popular blog and website site builders to see which one might be a good fit for you. And finally, we have a free blog planning guide that you can use to start your day with a winning strategy.
One of the cons of building a blog is that it may take time for your business to start making money. If you need money right away, a blog may be something you can start after you have secured a steady source of income, like a remote job.
2. Open an Etsy Shop
If you're crafty and you love making things by hand, Etsy is a great place to start... for free! It's a popular platform with lots of built in traffic. Shoppers on Etsy are looking for what you have to offer so you don't have to build an audience yourself.
There is a VERY low barrier to entry because you can set up your shop and get your first 40 items listed for free. Please Note: Etsy used to be free to get started. However, recently they have implemented a $15.00 fee to open a new shop. You can still use the option for 40 free listings.
There are fees that you'll have to pay once you make a sale, but there's an easy way to know what they will be before you create a listing. It's important to understand the pros and cons of listing your creative products in marketplaces, but they are a great way to get started.
You can be as hands on as you want in your Etsy shop, selling all handmade items where you make and ship your own items. You can also list your digital products and deliver them to customers via the internet. With print on demand products you can sell on the Etsy platform and your print on demand partner will ship products to your customers.
We have a tutorial that shows you how to open an Etsy shop and get 40 free listings. Check it out if you're interested in getting started.
3. Selling Digital Products
Digital products can be made for free and sold on platforms like Etsy. There is a low barrier to entry because of all the free tools and resources available to help you make products.
For example, you can open your Etsy store for free, and list 40 items for free. You can make them with free resources and the only time you pay and Etsy fee is when an item is sold.
These products are yours, which means once you pay for any expenses, all the extra goes into your pocket. You can set your business up the way you want and earn passive income while you do other things.
To learn more about starting a digital products business, take our premium course, the Digital Product Blueprint. All you need is to sign up with a user name and a password to get started.
An Example of a POD Product
The t-shirt shown here was created using our designs and it's fulfilled by our print on demand partner.
4. Print on Demand
Print on Demand is an order fulfillment method where items are printed as soon as an order is placed, without order minimums. You (as a business owner) create customizable images and place them on items, like apparel, home decor and textiles.
These images can be placed on items using the direct to garment printing method, embroidery or sublimation where available.
You sell the items under your brand. Once you receive an order, it's sent (automatically in many cases) to your print on demand partner. Once the item is made, the print on demand partner ships the item to your customer.
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So you never touch a product, and you can set pricing to whatever you want it to be, whatever your customers will pay. You do have to pay your print on demand partner for the product. However, once your expenses and fees are paid, the remaining money goes into your pocket.
The mug that says "Coffee Makes Everything Better" in the video is a mug created with print on demand. If you like it, you can purchase it here in our shop.
To learn more about how this business model works and how it might help you start an online business, read "How Print on Demand POD Businesses Work" to get the details.
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5. Freelance Writing and Creating eBooks
Are you a strong writer? If so, this one is a no-brainer. If you have solid writing skills, consider starting a business as a freelance writer.
To build up your portfolio and client base, you may want to help other entrepreneurs create content and help consumers with things like resume writing.
Start with a site like Upwork to build your freelance work and get references, reviews and referrals. Open a Fiver Learn account and start teaching others the tips and tools needed to be successful. You can also freelance on Fiverr, writing for others.
If you write, consider writing a book and publishing it on sites like Amazon KDP, and Barnes and Noble Press to sell them and earn royalties. You can also earn by reading audiobooks and narrating books for authors.
6. Freelance Editing
Are you a grammar god or goddess? Then here's another no-brainer. If you have solid proofreading and editing skills, consider starting a business as a freelance editor.
To build up your portfolio and client base, you may want to start with sites like Upwork for freelance work and by opening Fiverr freelancer account.
Items Needed to Build and Grow Your Audience
Optional Items (Or Items That Can Be Added Later)
7. Graphic Design
Do you love using tools like Canva, Adobe Photoshop, InDesign and Illustrator? If so, consider selling your design skills on your own website.
You can also sell your designs on apparel and household products using print on demand.
You can also advertise your services in various marketplaces where entrepreneurs hang out to earn from additional sources. Even something as simple as logo and image design can bring in more than you think.
Another option might include selling design templates online as a great source of income. There are lots of great platforms you can use to sell your templates and earn from each one.
Learn to sell digital templates in our course call the Digital Product Blueprint.
Learn to sell digital templates in our course call the Digital Product Blueprint.
To build up your portfolio and client base, you can also start with sites like Upwork and Fiverr for freelance work.
8. Sewing and Alterations
Do you love sewing and making apparel and items for your home? If so, turning that into an online business can be a full or part time opportunity you can start with a minimal investment.
Providing sewing and alterations is normally an in person activity that can be performed as a side hustle. You can also turn your love of sewing and creativity into an online business that brings in an additional source of income.
For example, you could make specific items that are sewn and sell them with an Etsy store or on other handmade platforms.
You can also supplement your in person alterations and sewing business by selling sewing notions, patterns, and other related products on your own eCommerce website like Shopify.
And if you like to create designs you could use Canva to create amazing designs and templates that you can sell online, which is also free.
Creating and selling patterns and providing demonstrations and courses designed to help others can also be a way to start a business that could prove to be very profitable.
If you already have a sewing machine and the necessary skills, you can use them to build a business that, depending on how it's structured, could bring in lots of extra income.
This business model can apply to knitting and crochet skills as well. If these are your superpower, they can easily bring in extra money and turn into a full time income over time.
Depending on the products you offer, you can also start with sites like Upwork for freelance work and Fiverr or YouTube to teach courses and provide video tutorials.
9. Teaching Language Skills and Tutoring
If you know how to speak more than one language, this is something you can teach to others who are traveling to another country or transitioning to the U.S. from other areas of the world.
You can teach online courses on sites like Fiverr Learn, or by starting a YouTube channel, and list your language tutoring services on sites like Craigslist.
This side hustle would also benefit from a blog or website that showcases your services and tells people how you can help them achieve their goals. You can also advertise using social media marketing.
10. Virtual Assistant
If you have experience working as an administrative assistant, this might be a good way for you to start a side hustle from home.
Virtual assistants do a number of things like handling scheduling, bookkeeping, and various other administrative tasks remotely from their home office; similar to freelancing as a writer, editor, designer, and so on.
Virtual assistants can build up their client base and experience on their own blog and sites like Upwork and Fiverr.
Having your own blog is beneficial when it comes to showcasing your expertise and experience. Having your own blog enables you to control the narrative about your business and the services you provide.
Blogging gives you a place to write helpful articles and tutorials that can serve to build credibility with your potential clients. It also gives you a place to refer potential clients to learn more and schedule a meeting.
On your own platform you can list clients you've worked with through testimonials and display an applicable portfolio. This helps to build your brand and position yourself as an authority in an area of specialty.
You can also sell products and services on an eCommerce platform like WordPress paired WooCommerce. Shopify is also an option if you would like to sell products.
Find new clients by participating in forums and groups, providing helpful, valuable information and by using social media marketing.
11. Home Organization
People are looking for ways to bring order into their lives. If you love keeping a neat, orderly, organized home, you can share tips, products, services and resources using an online platform like a blog or YouTube channel.
You can also earn from joining affiliate programs like the Amazon associates program or any program offered by your favorite retailers.
You can also offer organizing services, or courses online or work in person with individual home owners. The home organization side hustle is incredibly appealing due to the low cost of entry and flexibility. It essentially comes down to the cost of items you're already using in your home and internet access.
12. Building Blogs and Websites
If you're good at sales and marketing, as well as building websites, you can help new entrepreneurs build income generating sites.
Just knowing how to build a site puts you way ahead of the crowd. Most people don't have a clue (or the time to learn) how sites are built.
Once great thing about this side hustle is that you can purchase a domain and hosting at an affordable price, which will give you the ability to learn how to build a site.
Your first project could include building a site for yourself. And based on your results, you can start promoting services you can provide to others to help them get their websites up and running.
Take our free course How to Build a Blog that shows you how to set up a WordPress blog and how to monetize it.
Once you've built your own blog or website, you may also be able start venturing out, digging deeper and learning to use various site builders and tools.
A good starting point might be to use your blog to provide tips, support and resources to business owners who are trying to get their sites up and running.
You might want to set up a separate test site so that you're not showing people how to create sites from your primary site.
You might start building sites for friends, family and then venturing out to work with other entrepreneurs.
Download our free guide that walks you through a comparison of popular site builders to the site building we use to run our business. You could experiment with these builders and provide a comparison or recommendation of the ones you like best.
To build up your portfolio and client base, you can also start working on sites like Upwork and Fiverr to find freelance work and participate in groups and forums, providing helpful information. And of course you can advertise using social media marketing.
In addition to this list of 12 businesses here, check out this list of additional side hustles you can start today.
Skills To Grow and Nurture
Consider whether you have (or are willing to learn) the following skills. Maybe you've obtained these skills through a job, hobby or volunteer work. There are also several courses you can take to help you build the skills and knowledge needed to excel in any of these areas.
These are skills that can be grown and nurtured over time, and should not stop you from starting a business or side hustle.
If you fall short, you can always consult with a coach, hire out tasks that are a challenge for you or check out any number of affordable online courses that will help you learn these skills.
- Management skills, which include planning and assigning work (delegating), resourcefulness, decision making, and analytical skills.
- Customer service skills will help you connect with your customer base and establish partnerships
- Financial skills are needed to ensure you understand and control the income and expenses you'll incur. You'll also need to understand how to work with financial advisors.
- Strategic thinking and planning skills are necessary to stay competitive, reach your business goals, and grow your market reach
- Branding, marketing, and networking skills you will need to promote and grow your brand.
These are my recommendations for starting an online business that can be very profitable and affordable to begin. If you're looking for ideas and business insight, you're in the right place.
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