I didn’t launch Millennial Money to make money. I launched it because I really like thinking and writing about money. I also feel like it’s my personal mission to share sound financial advice and spread financial literacy. It just so happens that pretty much everything I get interested in turns into a business opportunity. The money from the blog is simply a by-product of my passion for writing. If you don’t enjoy writing then don’t start a blog – you really have to love writing.
Employed techies planning to earn some extra side income can leverage their software and hardware skills by offering home-based computer repair services as a business idea that engages their passion. If this rings a bell, you can start with a modest one-man tech team before envisioning a scaled-up operation as massive as Geek Squad. Remember, you can provide home service locally as a starting point to this business idea, as well as offer remote support through online messaging and video calling services before making your way into a retail setting.
Do you love to write? Are you an expert in a certain field? Is there a topic that you are particularly passionate about? People love the ability to carry knowledge around with them on their phones, tablets, laptops, and Kindles! Making eBooks is an excellent way to get your work out into the world and make a buck on the side. In fact, self-published eBooks account for 22% of all eBooks purchases in the United States (source). In time, writing eBooks could even replace your 9-5, but you’ll need to find a place to market and sell your work where it will get maximum exposure.
If you're operating your business as a sole proprietorship in the United States, you don't technically need an EIN for the business – you can file taxes for your business along with your personal taxes. However, you may want one if you want to open a bank account for your business, or if you don't want your Social Security number to appear on business documents.
31 Online trading Sites such as eBay and Amazon make it easy for people to dabble in e-commerce. "Start with a clearout of your attic," suggests Dan Wilson, author of Make Serious Money on eBay. "If you start to sell other goods, focus on things you can get hold of easily, or are passionate about. And have an eye on the Christmas market: think about what will be selling well in a few months' time."
Everyone (even kids and retirees) need to have some level of technical know-how to stay competitive and appreciate the marvels of the digital age. Just observe how learning sites like Codecademy, Treehouse, and Udacity continue to grow and you’ll understand the urgency of getting computer training for our generation (thus making it a great business idea to train others if you already have the skills). If you’re a techie, you can cash in on this need by offering lessons and tutorials within your neighborhood or across cyberspace through portals like YouTube or Udemy as a side business idea. You can even set up your own tutorial site with an interface for online payments.
I also buy and sell moped – little 49 cc Italian and Austrian mopeds made in the mid 1970’s to the 1980’s. These are super cool and command premium prices in cities since they are easy to ride and get 100+ mpgs! I have Craiglist alerts set up in Chicago for mopeds and pounce quickly on the deals. I actually have a storage facility just for my mopeds and still love buying and selling them. These two hobbies of mine are actually great side hustles that I don’t ever imagine stopping.
Suppose I was to tell you that I would pay you up to $15 to process rebates from various products and companies. I would send you a list, you proces the rebates and you get paid twice a month. All you need is a computer, internet access and our training program. Would you be interested? Chances are you would be! I know I would be too! Lucky for you that I stumbled across some crazy back door information about the rebate processors position that's going to knock your socks off. Trust me when I say you'll be so thankful that I go to the bottom of this opportunity.
If you already have a sizable Instagram following, or a knack for getting followers, you could be approached by major brands, gear companies, and other relevant businesses with products and services your audience may be interested in. Take 25-year-old Liz Eswein for example, who charges a fee to brands for taking the photos she posts on her account @NewYorkCity, and an additional $1 per like on top of that. Not bad, considering most of her photos get well over 20,000 likes.
As a freelance illustrator, you can take your skills in a number of directions. You might work for advertising agencies, stock image houses, magazine or book publishers, record labels, greeting card companies, digital properties, merchandisers, or other businesses. Some illustrators serve such narrow specialty niches as courtroom sketch artists, or niches in fashion, medicine, or technology. Or you might primarily work in fine art to be sold to customers directly or through galleries or agents.
It is amazing how this book has covered everything....everything you might need to know about generating income, searching for what may fit you, managing the funds, protecting your income, avoiding legalities, incorporating legalities, marketing, finances, and types of side businesses. You simply cannot go wrong, as there is just too much information.
In addition to being a meticulous writer from a mechanical standpoint, you must be the kind of person who pays close attention to detail. Keep in mind, a proofreader is not the same as an editor. You’re not reviewing what your clients are trying to communicate, but rather how they write it in terms of spelling, punctuation, typographical errors, and word usage.
This business is great for artists, giving them a venue to create their own designs and sell them via t-shirts. It is also great for those with strong community ties, as it lets them build long-lasting relationships providing t-shirts for various high school clubs, small businesses, local churches, and other organizations. Finally, it's a good business for savvy social media users as they can leverage these skills to reach diverse audiences of customers online.
Health insurance for the self-employed is not cheap. This is especially true for the would-be entrepreneur who has a family to consider. Many people who can’t afford the high cost of insuring themselves keep their day job solely for this purpose. Then, once their business becomes profitable enough to afford insurance, they leave their job and become a full-time business owner.
I can’t say enough about dog walking and pet sitting. I’ve been doing this for over two years, and my business has grown to the point where I was only home 4 days last May. The place I’m at now has a pool, and the next place has a pool table. I love dogs but can’t have one of my own, so I also get all the puppy snuggles I could want. And the startup cost is very low.