CIU recommends the following:
The number of agencies is significantly increasing as there is a demand for work with new businesses wanting to build an online presence or look for help online. The main type of agency is a digital agency, they generally specialize in Social Media marketing, video producing/editing, business consulting, website development & SEO, and/or graphic design. But other careers are now becoming web-based or taking on extra clients outside of their daytime work schedule, for example, doctors, teachers, psychiatrists, and personal trainers are now finding clients online and charging for their services via Zoom. Whatever your skill set, there will be a need for it by someone else in the world.
If you research side business ideas, often Airbnb is overlooked. Do you own a property with a spare bedroom? Has your son/daughter moved away to college? Do you have a summer house that is vacant all winter? Do you have enough money to rent a second house each month / pay the mortgage on a second house? If you said yes to any of those answers then Airbnb might be a great option to earn an extra income. If you don’t know Airbnb, you can rent out a room/house on the platform, and travelers can pay you to stay during their vacations.
Amazon FBA is a brilliant option for you if you have a product but you don’t want to handle its storage, fulfillment, and delivery. For a percentage of your profits, you can outsource this part of your business to Amazon. You ship all of your inventory to Amazon, and they do the rest for you. Even more, with Amazon being the biggest online marketplace, your products will be seen by millions of more people. It’s considered a great method for passive income.
Dropshipping is a supply chain management method whereby the retailer doesn’t hold any stock of their products, and on receiving orders it transfers them over to its manufacturer or supplier who fulfills the purchase. The retailer adds a markup to the price of the product on the frontend of which is profit. It is very common that people sell products from their USA online store but their product is shipped from China, therefore costing much less than the selling cost. Shopify.com is the most popular e-commerce platform for Dropshipping. Shopify has created a full beginner’s guide for you to learn more, here.
A lot of YouTubers get paid reputation for their craft being easy. It definitely isn’t. Creating high-quality consistent videos is very difficult. If you’re too shy to be on camera, there are other video types that you can create, or even writing a blog instead. Normally the easiest way to begin with YouTube is to create a channel based around a hobby or your current job. For example, https://www.youtube.com/user/NutritionFactsOrg/ has built up a following of over 500k subscribers by sharing videos about his passion, nutrition.
This is similar to creating videos for YouTube (and is normally the first stage before becoming a course creator), however of course you’re creating an entire course. https://www.udemy.com/ is one of the industry leaders for online courses with over 100,000 courses, in more or less every category thinkable, and over 50 million students. If you’re good at arts and crafts, speaking a second language, house repairs, gardening, cooking, teaching, or programming (or anything else) then you can create a course and teach others about it. Again, similar to other methods, once you have made the course, it is done – you will continue receiving passive income for as long as it sells for.
Do you have a following on social media? Do you currently have a loyal email list? Or do you have knowledge about marketing on Facebook, Instagram, Google, or YouTube? If yes, then becoming an affiliate marketer is perfect for you. An affiliate marketer advertises a product on behalf of a company and receives commission for each product/service that is bought using their URL link. Neil Patel has created a great guide for beginners who are interested to learn more. You can read it here.
Being an online translator or interpreter is dependent on you knowing a second language. The average online translator earns $78,000 per year. If you can’t speak a second language, then now is another great reason why you should. If you start today, in 2-5 years you could have an excellent level in which you could start charging for your services.
Investing in stocks and shares has been extremely popular for years. It can be very lucrative. However, like anything money can be lost too. Read https://www.nerdwallet.com/article/investing/how-to-invest-in-stocks for a greater in-depth look into investing.
Maybe you’re a little surprised that this is on the list, especially with the name ‘betting’ in the title. However, you are not gambling. Matched betting is a betting technique used to take advantage of incentives given by bookmakers. This is one of the side business ideas that many people are not aware of, but 1000’s worldwide have replaced their full-time income with matched betting. See here for more details.
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