It can be terrifying for entrepreneurs and freelancers who have lost growth opportunities, as well as employees who have lost their jobs or had their hours cut, in these uncertain times. There are, however, ways of making money during a crisis, including one as severe as this one, which has both health and economic effects.
As for myself, which has been painful but growing up through the Recession, I’ve learned some valuable lessons and am confident that I’ll make it through. You can, too, and in some cases, the crisis will provide an opportunity to shift your career in a new direction that will benefit you more in the coming years.
Charging for substance or substance support
With so many of us sitting at home and having more time on our hands during this time, you’ll definitely see a lot more content development, such as new updates, Video series, courses, and many more.
If you have a large social media audience or can get enough podcast listeners, you might be able to monetize your content by finding advertisers. You may also charge for access to your content by putting it behind a subscription service.
Others, on the other hand, must be practical about how much money they can make from content delivery. However, you will also be able to assist content creators with tasks such as writing, editing, and graphic design. Make ensure you charge for your time. Through platforms like Upwork, you can look at the project and hourly rates to get an idea of what your fee should be based on your experience.
Adapt your insight
Trying to jump into the online education space for people of different ages is related to creating content. You may have the skills and expertise to teach on sites targeted toward college students, or you may have business knowledge that you can teach to other professionals, particularly those at companies and conferences.
You can make money by selling your experience by designing a course on selling it to professionals, or you can work part-time with an online learning platform and get paid directly. If you have a course concept, see if it already exists on a forum like LinkedIn Learning. If it doesn’t, you may be missing out on a great opportunity to make something special that no one really has.
Find Some freelance work
There’s a good chance you can still find freelance opportunities through sites like Upwork and LinkedIn whether you’re a creative, a coder, an executive assistant, or any of the many other online-only occupations. Many companies, such as those in the technology sector and some grocery items that are seeing good sales due to increased demand in grocery stores, are still running at full capacity.
Taking on freelance opportunities can be a perfect way to start your side hustle if you’ve been paid directly for your side hustle work (e.g., doing graphic design to gradually manage your own agency) or using freelancing income to fund some level of the business venture.
Make a Budget
You won’t know how much money you need for an emergency savings if you don’t know how much money you have coming in and going it out every month. You have really no idea whether you’re working under your means or overcommitting yourself if you don’t keep a budget. A budget isn’t a parent, and it can’t or won’t help you change your ways.