Like everyone during the pandemic, you could be financially struggling. You’re finding yourself doing a balancing act, especially when settling your monthly bills. And oft-times, you’re short on petty cash. Sounds familiar, right? Well, if you haven’t already, you should tighten your belt and implement drastic steps to free yourself of financial stress.
But chances are you’ll find that everything boils down to income. Cash is king. And no matter the budgeting if you don’t have incoming cash, you’ll find yourself in an increasingly hopeless situation, facing a wall.
Of course, so long as you’re willing to find one, a solution should be within your reach. There are steps you can take to put yourself in a better situation. Finding a job and freelancing from home should be top of that list. However, for the brave of hearts, a business can be the most viable solution. It’s true. It’s more challenging (compared to working for someone) but the financial returns over time can make many 8-to-5 workers green in envy.
Fortunately, there are businesses that you can do that are tailored to the pandemic. Don’t worry. Starting them requires minimum investment. Best of all, you can do them while you’re hunkering down from home. Check out 3 to get you started.
Start an Online Consultancy Business
By definition, a consultant is someone who provides expert advice on just about anything under the sun. There are business consultants, legal consultants, marriage consultants. Looking at the marketplace right now should tell you many people are in shock with the dire realities. In short, these are people who need direction.
Well, if you’re worried a consultancy business may not pay you as much, think again. Some of the most successful consultants are raking in millions of dollars. A concrete example is Dr. Marshall Goldsmith. Just google “helping successful leaders” and you should see his name mentioned in the results.
So how do you become a consultant? First, find your expertise. What are the skills that you know more than the average guy? Are you a fitness expert or a musician perhaps? If you’re not too sure, here’s a list of consultancies you can easily start from home that can earn you big time.
The best part about consultancy is you can start it online. Then again, you’d have to ‘believable’ to attract clients. So here are some things you need to set up:
- A home office
- An online platform
- Your tools: keyboards and guitar if you’re a music consultant; a reliable camera if you’re a photography expert.
A Local Delivery Business
Now, think about it. With everyone hunkering down at home, plenty of people want to get their goods without having to step out the door. Reason enough why the online delivery business is booming nowadays.
But currently, only a few of these online delivery businesses are focusing on miscellaneous commodities. And that can mean great business for you. You can scout on things people need daily and know where to buy them on the go. Alternatively, you can store popular products in-home. You can turn a garden shed into spot-on storage for this purpose. Not only is it nearby, but your goods are also safe from naughty pilferage from your younger brothers or sisters/or anyone from home. Take note that tracking your sales can be hard if you don’t secure a good place for your products.
Here are some goods you can deliver for your community:
- Daily needs express
The good thing about catering to your community is this is low overhead. You can start this one on your own, and get more help later. You can even use a bicycle to get around as this is within your neighborhood. But as everyone needs something, the returns can surprise you.
An Online Tutoring Business
Now, here’s a clincher. Most kids around the world today are homeschooling, thanks to the virus. No, we’re not talking about millions of kids. Per UNESCO data, we’re talking about 1.37 billion students who are now home learning. And that means a tremendous opportunity for you. You have a very big market of young people needing the help of a tutor.
Take note that many of these students are struggling to cope up with the new environment. They’re not used to learning on their own.
That’s telling you that if you’re a subject matter expert, say Math or Science, you definitely are looking at a bright future ahead. Set up your online tools to get started (e.g., camera, microphone, books).
Even better, you can expand your reach. Recruit online tutors and be the principal of a cadre of subject matter experts.
The pandemic has given way to a slew of business opportunities. You just have to make sure you’re the better businessman to make the most of them. That way, you will be reaping your profits handsomely month after month from today.