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5 Intelligent Ways to Make Enough Side Income to Ultimately Quit Your Job

5 Intelligent Ways to Make Enough Side Income to Ultimately Quit Your Job

Are you planning to initiate a side income? Is the plan good enough to quit your full-time, decent-earning job? Yes, the renowned novel idea of making money in your spare time has now become a source of generating mainstream revenue and shall continue to rise. “By 2020, more than 60 million people, will be independent workers—freelancers, contractors, and temporary employees,” according to the Fast company. But that said, a good deal of efforts, skill, and passion are required for earning enough profit to achieve success and pay off your bills.

Whatever you plan to be—an entrepreneur, freelancer, artist, film maker, dealer or home maker—you will have to discover yourself before you wave off your job. In order to have a good start, it is wise to know if you have secured any backups or savings and a decent spending plan, that can let you survive through the transitional period, and also, in case a sudden decline in overall income jeopardizes your plans.

Any potential side business ideas, even after passing the trial and errors session, can carry certain risks; therefore, it depends on how innovative your idea is. Here are some brainy self-employment ideas to give you a head start in case you have an itch to say goodbye to your 9-to-5 job. These ideas are surely going to provide you financial securities and a happier life, but remember, the secret of success hides in the statement: “Make the process your goal and you’ll succeed no matter the ultimate outcome.” —Corbett Barr.

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1. Online Marketing

Internet marketing or digital marketing is an attractive yet easy way to market or sell various products and services merely with the use of digital world assets, entailing social media, search engine marketing, or even online advertisement.

Sign up an account on social media website and start offering your services in a way that attracts major brands, big companies, and known organizations. The more followers you will have, the greater the chance to earn will be. An estimate of about 500 USD to 5,000 USD can be earned per post, depending on the size of your sponsoring brand. See this famous fashion Instagram-er making significant income.

2. Investing in the Market

Investing in the stock market may seem quite simple when it comes to maximizing returns. Investing in bank stocks and the stock exchange is relatively easy and safe for earning a profit, and the price-to-book ratios are normally very low.

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Investment in major banks is safe as well, as these banks are too crucial for the government, so the chances of them failing are extremely low. This means that your investment will likely remain safe. You can expect rising profits and good price-earning ratios. Investing in the stock exchange, though it requires a bit of skill, can very effectively help you gain a profit, if you know to how move your positions.

3. Gig Economy

Gig economy, a promise to empower future and boundless innovations, is increasingly becoming the only income source of many homes. The Internet is one of the blooming economic engines of our time which has fulfilled the ultimate specialized consumer demands in lesser time and with much more efficiency.

Today one can easily afford his living by relying on what once was only a known feature of web developing, photography, or journalism freelancing. Not confined to high computer or English skill, Gig economy has now expanded amazingly in all other sectors of life. Working as a taxi driver for Uber or selling your art online can help anyone earn reliable income.

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4. Franchise and Multi-Level Marketing Opportunities

If you have a bit of capital, investing in the world of franchise companies is a very sound idea. The franchise businesses are all around us, from McDonald’s to 7-Eleven stores. Owning a franchise of any business can be a highly profitable work, especially if you have a passion for the type of franchise you purchase.

Many of the kinks have been sorted out as the brand name has already been established and a consistent customer following can be expected in most of the cases. The parent companies also offer their valued support, including marketing strategies, technical help and sourcing.

On the other hand, MLM or Multi-Level Marketing can prove to be an effective source of income, especially in the times of cut-backs or when launching a new business. However MLM does have its fair share of disadvantages, including neglecting the customers and over-selling the idea.

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5. Online Teaching

Teaching languages and tutoring for major exam studies like SAT,IELTS, ACT or many other college exams remotely or online is a definitely a great way to make a solid side income. There are people who are ready to pay as much as 25–100 USD/hour to tutors for language classes over Skype or through different website platforms. One can easily look out for an online teaching job on websites such as Learn4Good or Indeed. Whenever you think you have reached your set income goal from this side business, you can follow up with it as your main full time job.

Final Thoughts

While there is abundance of ideas, the most important thing is to identify and pick the one that you feel most passionate about. One other thing that you must not forget is the availability of time; for instance if you can only work during the weekends, then probably Gig economy is the best bet for you! Pick the right battle.

If you want to take a shot at investing in the stocks or setting up a website online, remember it might require some initial funding, that you can secure by savings or by taking a loan. If you take a loan, make sure you keep up with payments and make the best out of the money that you have borrowed.

However, make sure you are not digging a hole for yourself borrowing money from banks. According to a research, 70% of people who take out loans end up having more debt in couple of years. To avoid this, you can ask your family members to lend you some interest-free capital to begin with, so that you don’t have to face banks.

Featured photo credit: VirtualWolf via flickr.com

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Ahmed Raza

CEO of Samurais.co

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Published on September 16, 2020

12 Practical Interview Skills to Help You Land Your Dream Job

12 Practical Interview Skills to Help You Land Your Dream Job

Today, with many companies going remote—at least until there’s a COVID-19 vaccine—technical proficiency is a vital skill for every interviewee to master. You may be asked to interview for a job on Zoom or Microsoft Teams. The way you handle yourself in the online interview (your interview skills) will say much about your ability to work from home efficiently.

Does your workspace look clean or cluttered? Is the area free from noise? Is your home office well lit?

Once hired, you may be asked to organize meetings on Zoom and other platforms. Along with mastering the technology, you will have to learn to follow certain protocols.

Now is the time to get up to speed on your technical skills. Learn which interview skills are needed for the particular job for which you are applying and practice them.

Online learning sites, such as LinkedIn Learning and Udemy, offer courses for free or a nominal membership fee. If you are a DIY type, make use of training videos offered through your particular digital tools.

Additionally, demonstrating that you have these 12 interview skills will help you land your dream job.

1. Organization

When you work in a brick-and-mortar office, some of the organizing is left to others. Your direct supervisor may host a Monday morning quarterback meeting where each worker reports on the progress on their tasks.

When you work from home, much of the organizing will be left up to you. To a much greater extent than before, you will need to develop a schedule and stick to it. Some tasks may be faster to complete from your home office where you don’t have other workers competing for your attention.

Conversely, you may find that some tasks that would have gone quickly in an office seem to take forever from your home computer. Your phone may ring a lot, which can distract you, or you may have kids and a spouse who inadvertently disrupt your schedule.

To do: Set a schedule and stick to it.

To discuss during your interview: Be specific. Point to the interview skill you utilized to create a schedule for a complex work project and followed it.

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2. Flexibility

You set a schedule for the completion of your tasks, but your prospective boss gets their work done between the hours of 2:00 and 8:00 a.m. Your West Coast partners are three hours behind your East Coast partners, and one of your partners lives in England while another lives in Australia.

Feedback and collaboration (see point 3) may need to happen asynchronously. Be the flexible candidate—the person who is willing to occasionally disrupt their schedule for the greater good of the team.

For extra credit: don’t just look up time zones, look up whether they observe Daylight Savings Time.

To do: Be flexible about meeting times.

To discuss during your interview: Highlight a time when you worked on a team where members lived in different time zones. Discuss your processes.

3. Collaboration

As recently as six months ago, before the pandemic raged around the world, collaboration wasn’t quite as essential as it is today. In a remote office setting, collaboration doesn’t just mean working well with others—but actually sharing documents and editing them online on time.

Several cloud-based tools, such as Google Drive, Basecamp, and Trello, enable the type of collaborative teamwork that most companies want today.

To do: Download the correct software and practice using it.

To discuss during your interview: Discuss how you worked remotely with a group. Share how you overcame certain challenges.

4. Poise

Murphy’s Law states, “Anything that can go wrong will go wrong.”

When things do go awry, keeping your wits about you will demonstrate your consummate professionalism under fire. This will show your future bosses that you will be able to work well under the pressures of remote work.

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What could go wrong, you ask? You might be muted without realizing it—your Internet connection may not be robust, your headphones may blip out, your cellphone may ring, Zoom could have an outage. The list goes on and on.

To do: Make sure you have the most up-to-date versions of Skype and Zoom uploaded.

To discuss during your interview: Consider highlighting a time when a project did not go as planned. Demonstrate the interview skills that allowed you to rise to the challenge.

5. Communication

Your ability to handle online communication is one of the top critical skills you will need to thrive in today’s remote workplace. Download Slack if you haven’t already. Get used to toggling to a different form of online communication if one of your tools fails.

When it comes to the preferred format for your online interview, demonstrate proficiency by offering several different options. Give your phone number, Google Chat Hangouts name, and Skype ID.

To do: Familiarize yourself with video conference and online chat tools, such as Slack, Fleep, or Workplace by Facebook.

To discuss during your interview: Be prepared to share the online communication tools you’re using and examples of how you use each one.

6. Good Computer Hygiene

Setting up a backup system for your computer files is one of today’s crucial requirements for working in the digital age. Storing documents that can be shared by team members is also an efficient way to work together on presentations, articles, and reports—although studies show nearly one-third of employees avoid them because of the time it takes to find documents.

Be prepared in your interview to indicate your experience utilizing this technology, describing how you organize and store files using cloud-based collaboration tools. How do you keep track of links and tabs? Do you use Dropbox? Google Docs? Confluence? Others?

To do: Take inventory of the cloud-based document sharing and storage systems you know and use.

To discuss during your interview: Describe the document sharing tools and backup systems you utilize—both for personal protection and professional file sharing.

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7. Proper Meeting Etiquette

Today, presenting yourself virtually has its pros and cons. While you only have to show a professional persona from the waist up (make sure to straighten up your office space behind you), you must boost your energy to show that you’re engaged in the discussion.

Make your voice as upbeat as possible. Have your talking points at the ready and be careful not to ramble on, as long virtual meetings easily become tiresome. Use the mute and chat features to avoid interruptions.

To do: Once you know the meeting platform, make sure you have it mastered before your interview.

To discuss during your interview: Offer to share your screen to show an example of a work project— while at the same time demonstrating your prowess with video conferencing tools.

8. Respecting Feedback

In the age of working remotely, there may not be as many systems in place to obtain feedback (such as yearly performance reviews). Workers may need to ask for feedback, while managers may need to give more feedback than usual as the team adjusts to working off-site. Respecting feedback is on top of the interview skills list that you should learn.

Taking a proactive approach with giving and receiving feedback and incorporating it into your work style is a desirable quality that your employers will note.

To do: Reflect on the positive feedback you’ve received from past employers to bolster your confidence.

To discuss during your interview: Share a time when you received feedback that made you grow in the job. If you’re a manager, share a time when you gave feedback to an employee who needed to better their job performance.

9. Project Management

Staying on task with projects has evolved far past a to-do list, with electronic tools that can track time, manage team workloads, and even do the client billing. While your prospective employer may have its preferred project management program, your experience with any of the various options—whether it’s Basecamp, Teamwork, Smartsheet, or another—will be applicable.

To do: Know which project management software is likely to be used by the industry in which you’re interviewing, and familiarize yourself with its features.

To discuss during your interview: Highlight a project management feature that is particularly useful in helping you excel in your work, and explain how you utilize it.

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10. Staying up to Speed

Employers expect their remote workers to be technically proficient so that technology runs smoothly and doesn’t create work disruptions. Bosses count on remote workers to know enough about their systems to manage them without relying on the help of overworked IT staff.

To do: Make sure you have a fast internet connection and have a back-up plan, such as a second computer or other tethered devices.

To discuss during your interview: Note that you are diligent about keeping your computer and software up to date.

11. Attention to Cybersecurity Issues

“Virus” is a loaded term these days. Spreading a computer virus in your company, however, will not only bring productivity to a halt, but it will also make you a pariah. While working from public places using free Wi-Fi (with uneven security provisions) has waned, in pre-pandemic times, coffee shops accounted for 62 percent of Wi-Fi security breaches.

To do: Keep antivirus software updated and don’t download software without verifying its authenticity.

To discuss during your interview: Emphasize your awareness of cybersecurity risks and your care in taking necessary safety measures.

12. Teamwork

Work relationships now mostly happen in virtual settings, yet employers value team-oriented workers.

Being a part of a team gives you a sense of connection and shared purpose. A well-honed team understands how mutual reliance makes the sum of its parts greater than when individuals act on their own, improving the end product.

To do: Take stock of your attributes as a team player and where you can cultivate skills that will enable you to work more collaboratively.

To discuss during your interview: Inquire about the company’s culture and how it encourages a sense of community despite working remotely.

Final Thoughts

Preparing for remote positions available in today’s job market will mean honing your interview skills to highlight your technical abilities as well as your adaptability. By adhering to these To-Do’s and perfecting your online interview skills and charisma, you will rise above the competition and win over any prospective employer.

More Tips to Improve Your Interview Skills

Featured photo credit: Christina @ wocintechchat.com via unsplash.com

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