Most recently, results of a 2024 survey show that 46% of US respondents started a side hustle to generate passive income.

Here are some services you can offer to earn passive income online. Some of them might not have occurred to you at all!

Create a course

Creating an audio or video course in a subject you’re an expert on is a popular strategy for passive income. You can distribute and sell courses through Coursera or Udemy. 

Alternatively, you might consider the so-called “freemium” – acquiring followers through free content and then charging for more detailed, higher-value content. Keep in mind that in 2024, the typical freemium conversion rate is 4% on average. 8% is an outstanding conversion rate.  

A course can generate a good income stream, and it can turn into a source of passive income relatively easily. However, you must market your products aggressively and plan for more if you want to be successful. Unless you’re lucky, one product is not a business. 

Resell web hosting

Reseller hosting is another great source of passive income. It’s a rewarding, low-risk opportunity that doesn’t require any technical knowledge or prior experience. All you need is to choose a reliable web hosting provider and to be able to market and sell the service. 

As a reseller, you’re offering customers a quality product at a fraction of the price a major provider would charge. It’s a great source of passive income because once you acquire a number of customers, you don’t need to do anything more. 

Different providers of parent hosting offer different packages, so ask about the prices and features of each one. Popular marketing strategies to promote reseller services include SEO, PPC, and social media. 

Affiliate marketing

Bloggers or website owners use affiliate marketing to promote a third-party product. They add a link to the product on their social media or website. The best-known affiliate partner is Amazon, but you can also choose eBay or Awin. TikTok and Instagram have become huge affiliate marketing platforms.

Another option is to curate an email list to attract attention to your website or otherwise direct potential customers to services and products they might want.

You earn a commission when a visitor clicks on a link and buys something from a third-party affiliate. The amount of the commission is normally 3-7%, so generating a high income will take significant traffic to your site. The potential for passive income is high if you have a lucrative niche like financial services or if you can grow your following.

Launch a YouTube channel

You can create and upload videos on YouTube. Content can range from product reviews to entertainment and educational tutorials. Successful service providers can monetize their channels through sponsorship and ad revenue.

You get started by setting up a channel via a Google account. Customize it with a unique channel description, banner, and profile picture.

Ideally, your content should be a mix of evergreen and trending niche topics. Invest in a good microphone, camera, and lighting to enhance your video quality. 

Use free video editing software like DaVinci or Shotcut to create well-edited videos. If you have the money, consider Adobe Premiere Pro.

Upload videos consistently to build a loyal audience. Uploading regularly helps improve your channel’s engagement and visibility.

You can apply for the YouTube Partner Program to monetize your videos as long as you meet YouTube’s advertising eligibility criteria. Additional sources of passive income include merchandise, sponsorships, and affiliate marketing.

Those who love the idea of it are often hyped about the travel opportunities, the new adventures, and exciting cultures; no wonder they’re at a loss with regards to how people actually afford this for a few years.

Image source: Pexels

The truth is that the expats over the world are not living the dream of a tourist, heading from one sight-seeing trip to the next – it would have been very expensive, after all.

Most of them work to afford this excitement, building their business from abroad or furthering their career by making use of their degrees abroad. Here is a handful of money-making alternatives to those considering the same path, making it possible to experience the world as a local without spending all your savings.

Work From Your Computer

To many, making a living from your computer is the only way to go. It makes sense, as you can bring your laptop with you wherever you go and may be able to do a decent amount of work as long as the Internet connection is stable. What’s more, the laptop employees doesn’t have to be creative freelancers even though you have an amount of options in this department as well.

Teach or counsel, for example, and keep in touch with your pupils or clients over Skype from the comfort of one of these apartments for rent in padua, Italy, a cafe in Tokyo, or a beach in Rio. Keep in mind that most people who manage to pull off a successful income by only working through their computers would, usually, have something set up before leaving. It’s a good idea to have a word with your boss before quitting your day job and ask if they have any relocation programs available.

That way, you’ll be able to continue doing what you’re used to – just in a completely different environment.

You can, of course, start to build a day-job as soon as you leave, but it will take some time to generate an income and you might have to find another way to make money in the meantime. Don’t worry, though; there are loads of options below.

Apply with Your Degree

Picture source

Luckily, they need bright heads like yours in the country you’re planning on setting root in for a while as well. When you’ve studied for a degree for years, it makes sense to offer your services and make a living off it when you’re abroad as well.

Remember to check the work permit regulations well in advance of leaving and try to land a job before you head off to the airport. It makes the whole experience a lot better, and you’ll be able to find affordable houses for rent before leaving and even pinpoint where you should live so that it’s convenient with regards to work.

You can get in touch with a recruitment service, for example, who has contacts in the country you’re going to – or you can contact a recruitment company in the foreign country directly. Many of them will be more than happy to coordinate a job interview for you and arrange everything before you land; especially if you’re passionate about the work you do and have a decent degree to show off.

Either way, they should be able to help you a bit on your way. Applying with your degree is a great way to kickstart your career, and you’ll be able to bring back a lot of useful skills and knowledge when you decide to continue in your home country.

Apply with Your Skills

When you have a particular set of skills that may come in handy, you’re probably well aware of this yourself. We’ve been on enough holidays to know that the people who are teaching scuba-diving, surfing or skiing are paid to do their job and that they’re quite good at what they do.

The times are changing, though, and you might be able to make money from something outside of the conventional holiday stuff that you never really thought of; teaching yoga, for example, or meditation is a good idea when you have a lot of experience with it.

Remember that those staying over at a backpackers will be less likely to pay up for a yoga session than the older people over at the resort if you know what I’m saying. Be strategic about where you offer classes, and it could be enough to make a bit of income.

Some skills are desirable all over the world and especially if you’re handy and not afraid to work long hours. Carpentry, painting and regular manual labor are often in high-demand; with a bit of experience in this field, you’ll actually be able to make a decent amount of money.

Image source: Pexels

Apply as a Teacher

Anyone can live and work in a foreign country these days as long as they know where to look. In all honesty, you don’t even have to search for that long; so many are asking the same questions and looking for the same answers, so you can just have a look at Oyster Worldwide, for example, or simply hit the search engine and find a similar site.

All of these jobs are paid and feature opportunities such as training to be a skiing instructor in Romania or becoming an English teacher in Thailand. When you love to teach and have a decent grasp of the language, you’ll actually be able to work all over the world.

It’s a great way to start your adventure and ensure that you have a decent, reputable job before you land. Work for a few weeks in one country, save up a bit, and travel on to the next one. You should be able to find something that triggers your interest, no matter if you’re passionate about animal welfare or sports coaching – if not, just check out another site.

Have a look at this site, for example, for a great opportunity to work as a summer program staff in charming European cities such as Barcelona, Milan, and Florence. It’s a bit of teaching, a bit of adventure – and a lot of kids, of course.

How Do I Choose?

As you can see, there are a lot of options when it comes to finding a job abroad – almost as many as when you’re looking for a job at home. While some people dread the mundane predictability of a regular 9-5 kind of office job, others find a sense of calmness in the structure.

What kind of work schedule you prefer should determine which one of these options you go for; the role of a freelancer may not be for you if you need the set hours of clocking-in and clocking-out of the office. And again, if the thought office hours makes you lose the will to live, it’s probably better to be your own boss when you’re abroad.

You will find both types no matter where you go, and the ones who choose to work in an office are usually passionate about what they do – as well as the city they live in. They’re often quite educated and genuinely excited about their job. This kind of office job is probably not for you if you’re working to travel – so find yourself something temporary instead to fit your flexible style.

The world is your oyster when you’re prepared to work and enjoy the experience that comes with the job. You’ll be able to make new acquaintances you’d never be able to make as a regular holiday-goer – and, when money is no longer a problem, the adventure can go on for as long as you want.

While there are several ideas to consider, choosing a profitable side hustle can be challenging. Some require a significant upfront investment, while others require time and effort on your part.

Whether you’re looking to use your creative skills, business acumen, or teaching experience, there is a side hustle out there for you. The key is finding an idea that is both profitable and manageable so that you can easily earn extra money without taking on too much additional responsibility.

In this article, we’ll explore some side hustles that can help you make money in the coming year. Whether you’re looking for a full-time income or just a little extra cash on the side, these ideas can help you achieve your financial goals.

10+ Profitable Side Hustles to Make Money in 2023

Photo by Garrhet Sampson on Unsplash

There are several side hustle options that can help you earn extra money in 2023. Here are some ideas to consider:

1) Content writing

If you have a way with words, consider offering content writing services. You can write for websites, magazines, and other publications or create content for businesses looking to improve their online presence.

Also, depending on your experience and knowledge, you can offer copywriting and editing services. You can find content writing opportunities online through freelance writing job boards and platforms.

2) Online tutoring

With the rise of online learning, there is a growing demand for tutors who can help students with their studies. You can offer your services as an online tutor in a variety of subjects, from math and science to language and history.

If you have any teaching qualifications, you can even become a subject specialist and tutor students on more complex topics. Online tutoring is a flexible side hustle that can be done in your spare time, and you can set your own rates depending on factors such as your qualifications, experience and demand, which make it great for people who love teaching.

3) Virtual assistant

If you’re organized and can handle a variety of tasks, consider becoming a virtual assistant. You can help business owners and entrepreneurs with their everyday tasks, from managing their calendars to organizing their inboxes or conducting research on topics related to their businesses.

Virtual assistants are in high demand, and you can find several opportunities online or through larger virtual assistant agencies. Also, as a virtual assistant, you can offer a range of services to clients, including scheduling, email management, and data entry. This is a flexible side hustle that can be done from anywhere with an internet connection.

4) Graphic design

If you have a knack for creating visuals, consider offering your services as a graphic designer. You can create logos, icons, websites, and banners, as well as graphic content for businesses and individuals. You can also offer your services through freelance platforms or design agencies.

Graphic design is a great side hustle that allows you to work on flexible terms and complete projects from the comfort of your home.

5) Social media management

With the increasing importance of social media for businesses, there is a growing demand for social media managers. You can help businesses create and manage their social media presence, including crafting posts, responding to comments, and analyzing metrics.

Social media management is also great because it can be done from anywhere, and you can work with clients on flexible terms based on your availability.

6) E-commerce

If you have a product or service you want to sell, consider setting up an e-commerce website or selling through an online marketplace like Etsy or eBay. This can be a great way to turn your hobby or passion into a side hustle.

If you don’t have a lot of money to invest upfront, you can use the connective eCommerce model, which takes away some of the biggest costs that come with starting an eCommerce store.

You can create and promote your products, which allows you to reach a wider audience. You can also make money online by creating digital products such as e-books, online courses, and more and these products can be sold without restrictions.

7) Start a blog

If you are passionate about a particular topic and have something to share, why not start a blog? You don’t need any technical skills or coding knowledge to set up your blog and start writing.

You can monetize your blog by displaying ads, promoting affiliate links, or selling products and services. It takes some time to build an audience, but it is one of the most rewarding side hustles you can start.

8) Write an e-book

Whether you’re an expert in a particular subject or just have a lot of knowledge to share, writing an e-book is one side hustle that can be extremely lucrative, especially if you already have an audience to sell it to.

The good thing is, even if you don’t have a huge following, an e-book can be used as a freebie or lead magnet to attract more people to your website or social media page. To get started, you’ll need a topic for your book, some basic writing and formatting skills, and access to a publishing platform like Amazon Kindle or Kobo.

You can even bundle your e-book together with other side hustle products or services to help you promote it and boost sales.

9) Start a freelancing business

If you are a skilled writer, designer, or marketer, consider starting your own freelancing business to make some side income. With platforms like Upwork, Fiverr, and Freelancer, there are plenty of opportunities to find side gigs that match your skill set.

To get started with freelancing, create a portfolio of your work and start pitching potential clients. You can even set up a website or blog to promote your services and attract more business. Plus, depending on the types of side hustles you do, you may also be able to accept payments via PayPal or other online platforms.

10) Launch a podcast

If writing is not your thing, consider launching your own podcast. Podcasting can be a great side hustle for those who enjoy talking about topics they’re interested in or passionate about.

To get started, you’ll need to choose a topic for your podcast and create an outline of the content you plan to cover. You’ll also need some basic audio recording and editing software, as well as equipment like podcasting headphones and a microphone.

Once your podcast is up and running, you can promote it on your website or blog and social media pages to start gaining listeners. You can even monetize your podcast by accepting donations, selling merchandise, or promoting affiliate links.

11) Online Trading

For those interested in finance and investing, online trading can be a great side hustle. With platforms like Take Profit Trader, Robinhood, E-Trade, and TD Ameritrade, you can easily buy and sell stocks, options, futures, and other investments from the comfort of your own home.

However, it’s important to do thorough research before getting started in online trading as it can be risky and requires knowledge of market trends and strategies. It’s also recommended to start with smaller investments and gradually increase as you gain more experience.

Why You Need to Start a Side Hustle in 2023

Photo by Daniel Thomas on Pexels

There are so many benefits to starting a side hustle, and it’s never too early to get started.

1) Do what you love

Perhaps the most important reason to start a side hustle is that it gives you the opportunity to pursue your passion and turn it into a side income. Whether you are an artist, writer, marketer, or anything in between, side hustles allow you to do what you love while making extra money on the side.

2) Gain valuable skills

Not only can side hustles help you earn some extra money, but they can also be a great way to gain valuable skills and experience. You can learn how to launch and run your own side business or improve your writing and marketing skills. Overall, side hustles can help you gain new skills and experience that can be invaluable for your career.

3) Escape the 9-to-5 grind

Finally, side hustles can help you get out of the 9-to-5 grind and have more control over your time and work schedule. Side hustles are great because you can work on them in your free time, whether that’s early in the morning or late at night. This gives you the flexibility to pursue other side hustles, work on your main career, or simply enjoy some much-needed free time.

Summary

So, if you’re looking to make extra money, gain valuable experience, or just escape the daily grind, starting a side hustle in 2023 is definitely the way to go. Whether you’re a writer, designer, marketer, or something in between, side hustles can help you do what you love and gain valuable skills and experience along the way.

To be successful, taking action and being persistent is key. The most important thing is to find side hustles that match your skills and interests and be willing to put in the time and effort it takes to make them work. With determination, creativity, and a little bit of hard work, you can build a side income and enjoy the many benefits of side hustling in 2023 and beyond!

Author Bio

Esther Alu is the founder of The Ace Business, where she empowers people to start profitable businesses, reach financial freedom, and achieve fulfillment, all while doing what they love, both online and offline. You can connect with her here.

Tiktok has a massive user base and is growing every day. It’s a great platform for anyone who wants to make money on the internet, but it can be hard to figure out where to start. If you’re wondering how to make money on Tiktok, this guide will help. It will walk you through the steps needed to start earning money on Tiktok and show you some of the best ways to make money using this platform. 

Go Viral

So, you want to go viral on Tiktok. But how do you do it? Well, there are no surefire ways to make your content go viral. It’s more about creating content that will catch the right people’s attention and organically grow from there. There are, however, some things you can do to increase your chances of going viral. Here are some tips:

• Be original. Don’t try to copy other Tiktok users’ content. If someone sees that someone else is already doing something similar, they won’t be interested in yours.
• Be unique. Make sure your content is not just funny or interesting, but also unique. If you’re trying to do something that has already been done a million times before, don’t expect people to be interested in yours.
• Don’t be afraid to be silly. If you’re trying to make a serious video, don’t expect it to go viral. The best Tiktok videos are usually humorous or weird in some way.
• Be relatable. Make sure that your content is something people can relate to and understand easily. This will make them want to share it with others!
• Be catchy. If you want to make a video that people will want to watch again and again, it needs to be catchy. Make sure the song you use is fun and easy to remember, and that your content is entertaining enough that people won’t get bored of it right away.
• Create contents. Create compelling contents that people will want to watch again and again. Examples of content you can create are music or lyric videos, vlogs (videos about your day, life, etc.) reviews of products and services, life hacks and tutorials.
• Have a clear message. You don’t have much time to make your point, so make sure that the video you create is focused on one thing only. If you’re trying to tell a story and explain something complicated, consider making more than one video.

Sell T-Shirts or Products

There are a few ways to make money on TikTok, including selling T-shirts and products. You can sell these things directly on your TikTok page, or you can sell them through other platforms like Amazon or Etsy. Here’s how to do it:

• Create a brand. The first thing you need to do is create a brand for yourself. This will help people recognize and remember your products, which makes it easier for them to buy from you in the future.
• Choose products that fit with your brand and audience. Make sure that the products you sell are relevant to your niche!
• Create a store. You can create your store on TikTok or on another platform like Amazon, Etsy, or eBay. It’s up to you!
• Upload your products and set prices. Once you’ve set up your store, it’s time to upload your products so that people can buy from you.
• Promote your store. You’ll need to promote your store in order to get people interested in buying from you! Promote it on social media, at events, and anywhere else that makes sense for your niche.

Affiliate Marketing

You can make money by promoting brands and products in your videos. You can use affiliate links to promote products, but be careful about the products you promote. Make sure you are promoting products that you believe in or know about.

Collaborate with Brands

Collaborating with brands is another way to make money on YouTube. It’s a great way to work with companies that you already know and love, which helps build trust in your audience. If you collaborate with a brand, make sure you are clear about what the brand will provide for free and what they expect from you in return. You should also be able to share revenue from any sales made as part of the collaboration.

Use Sponsored Posts

Another way to make money on Tiktok is by using Sponsored Posts. These posts can be text-based or video-based, and they appear in your feed as normal. However, these posts are paid for by brands, so you will be compensated for creating them.

Create Patreon

You can also create a Patreon account and use it to monetize your channel. If you’re unfamiliar with Patreon, this is a platform where people can support creators they enjoy by pledging money on a monthly basis to receive exclusive content from them. This may include access to behind-the-scenes footage, opportunities for Q&As or other types of interactions, early access to new videos, etc.

Livestream and collect virtual gifts

If you have a large following on TikTok, you can make money by live streaming and collecting virtual gifts. This is similar to how YouTubers use Twitch for live streams and interacting with fans. A screen recorder will allow you to record your live stream so that fans can watch it later on. You can also use a screen recorder to create short videos with commentary, which is another way to make money.

Conclusion

You can make money on Tiktok.

TikTok is a social media app that was founded in 2016 and has since become one of the most popular apps in the world with over 1 billion users. There are many ways you can make money on Tik Tok, and there are many ways to get discovered. All it takes is some creativity and a lot of hard work. It’s not easy, but it’s possible!

The pandemic has changed the way people spend their time. Whether their hours were reduced or they simply have the time to start that company they always wanted, the U.S. Census reported new business ventures rose by almost 42% in 2020.  

A side hustle is the perfect way to start your own business. You don’t have to quit a job you like, give up security or lose benefits. Instead, you can work when you want and earn some extra cash.

How Do I Make an Extra $1,000 a Month or More?

Making $1,000 more a month isn’t too difficult with a bit of grit and determination. You’ll need to work or sell enough to make around $250 per week.  

There are many ways you can generate $1,000 a month, from setting up a flea market booth to getting involved in direct sales.

However, we’ve narrowed the options down to six popular side hustles that prove successful for most people.  

1. Deliver Food

A few years back, ridesharing was all the rage as a side hustle. While it still can be a good option if you live in a populated area, people are staying home more. Because of that, we advise looking at food delivery as a side hustle, since more folks want items delivered to their homes as they social distance. 

Even after the pandemic is over, people will have a taste for the convenience of food delivery. You can start your own company and advertise your services or tap into one of the apps already available, such as Instacart or GrubHub. You can deliver groceries or restaurant orders. 

One of the great advantages of working for another company is you can operate only when you have the time, setting your own schedule. Just make sure you have goals in mind for how much you need to work or earn each week.  

2. Home Inspection and Improvement

Are you pretty handy with a hammer? Maybe you are familiar with the common problems most homeowners experience. Starting a business as a home inspection specialist or a handyman is a great side hustle.  

According to the United States Bureau of Labor and Statistics (BLS), inspectors make around $29 per hour. Depending on the area, you may make more or less. For about three hours of work, you’ll earn $100 to $150. Setting up just a couple of home inspections a week gives you some nice pocket change.  

Those wanting to do some home repair work should check the rates in your area. You’ll need equipment. For example, a cargo van is the backbone of your part-time business. Having the tools and equipment may even turn your side hustle into a full-time gig.   

3. Tutoring

Are you skilled at math? Do you know how to diagram a sentence with the best English teachers out there? If you are adept at some school subject, offer your services as a tutor. You can also sign up to teach English as a second language (ESL) learners through sites such as VIPKids and gogoKids.  

You don’t have to use another platform to work as a tutor, though. Run an ad in your local paper explaining how much a tutoring session costs and your experience in the subject matter. 

There are a few things you should have in place before enlisting in this line of work. Have a background report on file showing you have no charges related to children. Get certification to teach ESL. Gather testimonials as you help different clients. Parents want to know you can actually help their child and that they can trust you to be around their offspring.  

4. Rent a Room

Do you have an extra room in your home? Perhaps you can turn a garage apartment into a mini paradise or add a small guest house to your property. Rental income is rather passive and allows you to gain equity on the property while earning money. It has one of the highest rates of return of any business. 

You can either do short-term or long-term agreements. If you plan to lease out a room in your home, you may want to stick with shorter leases. If you are located near a hospital, advertise to traveling nurses, for example.  

If you have a garage apartment or separate guest house, it might be better to sign a contract for six months or a year and not bother with the high turnover of revolving tenants. 

Do be aware that if you have a mortgage, you’ll have to notify your lien holder. You will need additional insurance, so touch base with your representative. As for taxes, how much you’ll pay depends on several factors.  

Investopedia mentions you’ll pay federal taxes based on your marginal tax rate, plus state and local fees. Be sure you understand all the costs involved before taking on this hustle. This is one of the best options when it comes to hours of investment versus return.

5. House Cleaning

Did you know that around 37% of Americans have a side hustle? While an ideal scenario would be one where people only must work 40 hours a week, that isn’t the reality for many. Finding something you enjoy that pays well is important if you are going to work a full-time job and have an extra gig on the weekends. 

House cleaning is something you can get into with very little money down. You will need some general liability and business insurance, however. Talk to your insurer about what you’d like to do and see what it has available. The rates for business insurance should be under $100 a month when just getting started. 

Expect to make around $30 an hour, but you’ll have to buy supplies and cleaning products out of that money. The rates may also vary, depending on the competition in your area.  

6. Online Trading

Online trading is a hustle that requires some knowledge of the financial market and an initial investment. You can start by investing a small amount of money, and slowly build up your portfolio as you gain experience and confidence in your abilities. There are many resources available online like The5ers that can help you learn about stock trading, cryptocurrency, forex trading, and other types of online investments. Once you have a solid understanding of the market, you can use your skills to make trades and earn a profit.

However, it’s important to note that online trading is not without risks. It requires careful planning, research, and constant monitoring of your investments. Make sure to educate yourself about risk management and never invest more than you can afford to lose. This side hustle has the potential to bring in significant profits, but it is not a get-rich-quick scheme. Take your time to learn and develop your skills, and you may be able to turn this side hustle into a successful full-time job.

Choose What You Love

Realistically, the only thing you need to start your side hustle is a laptop, an idea, and an internet connection. If you’re still relying on public WiFi spots, use a comparison site to find your broadband deal today.

So, what things are you passionate about? If you find something you enjoy doing, your side hustle won’t even seem like work. It will be a hobby that brings in extra income and lets you take that amazing vacation or pay down some debt. Choose something you’ll enjoy, and you’ll be much more successful than if you hate what you do. 

Biotech news related to the coronavirus has catapulted the whole stock market. Some of the most significant swings on the stock market revolved around coronavirus and biotech companies. Since May 18 when US biotech Moderna announced some positive data for coronavirus treatment, the biotech stocks continue to spike. 

With the hope of profiting on the first cure for Covid-19, investments in young, innovative biotechnology companies have seen strong growth in recent months. But beware of the scrapping, the biotechnology market is one of the riskiest. 

The race for the Covid-19 vaccine is fueling the price of biotechs 

Biotech companies have experienced a real boom in the financial markets in recent months. The Covid-19 pandemic is prompting many investors to bet big on young companies likely to find a cure for the virus.

Thus, American biotechs have raised more than $ 9 billion on the stock market in recent months, against “only” $ 6.5 billion in the whole of 2018, according to data from Dealogic. From May 18, when Moderna announced positive results, Nasdaq spurred to a 2.4% gain and the  S&P 500 to  3.2%. 

This blind race for the drug or miracle vaccine risks leaving individual investors behind since biotech is one of the most volatile markets. Biotech companies often have only one or two product candidates for treatment in stock, and often none on the market.

They must therefore finance their research and development, without yet having a significant income. Even as a specialist, you need a very fine-grained diversification and risk assessment approach. 

Wave of IPOs 

From Bio World’s report, we could see there were 495 experimental treatments for coronavirus as of July 23, 2020, with 158 potential vaccines in development. Moderna’s innovative technology is one of them. The American biotech has seen its share price go from nearly 19 dollars in January 2020 to nearly 70 dollars at the end of August, for a valuation of more than 26 billion dollars. 

These numbers are in correlation with the Operation Warp Speed. It has been initiated by the Department of Health and Human Services in aim to deliver 300 million vaccine doses by January 2021. 

But the promises of its biotechs are too good not to attract investors, eager to generate a quick profit. It’s evident that there is a positive interconnection between daily Covid daily cases and the Nasdaq Biotech Industry Index. Young companies benefit from this.

The number of IPOs of young biotechs has increased; each of the new entrants has seen their prices rise. This is the case of the German CureVac, introduced on Wall Street on August 14 and whose market capitalization is around 10 billion dollars.  

States are also joining the fight. The US government has signed a $ 1.3 billion contract with Moderna to purchase one million doses. Its contender for the vaccine is among the most advanced in the world.

It is in phase 3 clinical trials, just like that of the alliances between the University of Oxford and AstraZeneca or Pfizer BioNTech. But the inflows of money by states do not mean risk reduction. 

In Conclusion  

The stock market that is causing young biotechs’ prices to soar raises the risk of a small financial bubble bursting. 

Biotechs that fail before they are put on the market – that is to say, the vast majority of them – will see their value drastically reduced. Such risk for a professional financial actor remains, in general, under control because it is diluted with other values.

Thus, if you want to be a biotech investor, the most important skill to have is looking beyond the headlines and risk management. 

What is All The Noise About?

AliExpress is the fifth biggest B2C online marketplace in the world. It is famous for doing in Asia what Amazon or eBay never actually did: connecting the Chinese sellers and the rest of the world via an easy-to-use and flexible platform.

Every day 20 million people log in to Ali to do their shopping: from woolen socks to guitars, iPhone chargers and jewelry. In the last fiscal year, Ali reported $72 billion in profit. So, is it possible to make an AlieExpress clone? Actually, it is. Let’s see how!

Cloning AlieExpress: Keys to Success

What does make AlieExpress so successful? Actually, there is a good deal of factors: 

• It’s international.
• China is the world’s biggest ‘workshop’.
• Flexible logistics system with free shipping.
• Various payment systems from Visa to WeChat Pay.
• The founder of Ali Jack Ma understood business in China like no one else.

And, of course, we can’t forget the intuitive interface of the platform. AlieExpress is 100% user-oriented both for companies and individual buyers. So, let’s talk more about Ali’s anatomy and why it is so good.

Here are the key elements that your AlieExpress clone must have:

Easy registration: Don’t make it a drag

There’s nothing else that an e-customer hates more than a lengthy, intricate registration. AlieExpress allows you to create an account in barely two minutes: either via an e-mail or a social network profile.

But for sellers, this procedure takes a bit more time. There’s an obligatory verification: all sellers must provide essential info about their company. They can get to business only after Ali’s administration checks and confirms it. This is necessary to filter out scammers.

Product search: Let ‘em find what they need

Ali is a monstrous hub, and you can easily get lost in the myriad of its products. Typically, buyers search for stuff using keywords: phone case, memory card, silver necklace, Japanese money cat…

However, sometimes they don’t know how to describe what they search for. Just like Google, Ali allows uploading a picture. And using it, the site’s algorithms will find what you desire. The search can also be filtered by product categories: toys, domestic appliances, clothes, etc.  

Payment process: Keep it simple

If you intend to succeed internationally, a variety of paying methods is a must.

You can’t limit your platform just to PayPal as your overseas customers may have problems with it: currency conversion, legal limitations, high commission, etc. 

Besides, it’s always better to be able to pay instantly, not having to wait for an invoice. The fact that you’ve just paid for a thing you wanted so bad provides the feeling of satisfaction.

You don’t need to invent a clone of Alipay — the platform’s native payment service. But such options as MasterCard/Visa, Samsung Pay, Kiwi, Dwolla and other less-known local systems should be compatible with your marketplace at all costs.

Purchase management: Provide the details

Ali also allows customers to keep track of the status of their orders. This includes the order amount, export methods, payment status, refund details, and so on.

Feedback: Credence won’t hurt

One of the reasons why Ali is so popular is the reviews and ratings left by the real people who shop there. Customers use them to pick the most reliable supplier, the top high-quality products and the best refund policy. 

Besides, sellers and buyers can stay in touch, thanks to the messaging. This brings even more trust as people can clarify various details and get updates on the status of their order. Dialogue is always necessary when it comes to e-commerce.

Client support: Solve Issues Promptly

A client is always right. But in your case, there will be two customer types who at times will turn into the warring factions. You need to provide a chat/email support to regulate disputes, liquidate any foul play, arrange returns or refunds, etc. 

Monetization: Getting your cut

Your slice of the pie can come from two monetization models:

1. Commission. In this scenario, you will get a percentage from each monetary transaction on your marketplace. In this case, the profit will directly depend on the number of the overall deals per month/year.
2. Subscription. You will need to create subscription plans that will offer various options and bonuses. And the costlier the plan is, the more premium features it needs to provide: more products for display, priority customer support, etc. 

Interestingly, AliExpress prefers selling subscription plans to the companies. But since you just start out, you might want to stick to the commission model.

The Best Solution…?

As you can see. The digital architecture of such a marketplace is enormous. It allows making millions of purchases, processing millions of transactions and registering thousands of new sellers and buyers every single day.

Needless to say, recreating a website like this from scratch would cost an arm and a leg. The final price charged by a web-studio for such a project can be as much as $200k and more.

The best tactic here is to use a ready-made script. At a much cheaper price, you will get:

• Multilingual support.
• Sales reports & statistics.
• Flexible order management.
• Comment & review sections.
• The advanced payout system.

And other essential features, without which AliExpress would never make it. It is the easiest way to set up your own e-commerce market and attract thousands of clients quickly. Besides, you can try the free demo and see how it works.

Your E-commerce Saga Begins!

Now you know which tips to follow and what tech tools to apply. They will surely make your long-term e-commerce strategy effective. 

Just don’t forget the most important lesson that Jack Ma probably learned himself while building AliExpress and Alibaba: whatever service you offer, it must be for the sake of people and not just money-making. 

Maybe you want to purchase a new car, complete a home improvement project, or build your emergency fund. Either way, making more money can help you achieve these things.

While there are thousands of ways you can make more money, I’ve decided to focus on seven unique methods that are worth your time.

There’s no need to contemplate whether college is a waste of time, you can get started with these side hustles with or without a college degree!

Make Money Flipping Furniture

Flipping furniture is a great side hustle for those with even the slightest level of creativity.

By purchasing (or obtaining) distressed pieces of furniture you can refurbish them and sell them to make money.

While flipping furniture for a profit can take some time to master, you can easily get started for less than $100. There are many resources you can use for inspiration for your pieces such as Pinterest!

Use a 3D Printer to Make Extra Cash

3D printers have become all the rage as of recent. Because you can build just about anything with a 3D printer, they can be a great way to make money.

By building products and selling them on e-commerce platforms or your own website, making money with a 3D printer can be the perfect side hustle for those willing to learn.

But it doesn’t end there. You can also opt to teach others how to use a 3D printer or fix broken printers to make money. You can learn the basics of 3D printers from make YouTube videos to help you get started.

Start a Pressure Washing Business

Starting a pressure washing business will likely require a larger investment compared to the other methods on this list, but when it’s compared to other businesses, the initial investment is still quite low.

You’ll need to purchase a pressure washer, some cleaning solution and nozzles, and a vehicle to transport your equipment too and from jobs to get started. Combined, these items can cost anywhere from a few thousand to roughly $6,000.

But with your investment can come great returns. You can charge anywhere from $30 per hour for your time or you can charge by the job. Many jobs can bring in $500+ when completed, making it well worth the investment.

Become a Freelance Writer

While most people will think you need to be an expert to make money writing, you’ll be surprised how easy it can be.

The more you practice, the better writer you will become and your rates will rise accordingly. You can get started by starting a blog to practice before offering your services to the public.

You can check out this post to learn how to make money writing.

Start a Vending Machine Business

Vending machines are a great way to earn passive income. Because the only work you’ll need to do is purchasing inventory and stocking your machines, it can be a great way to earn extra money in your free time.

Similar to a pressure washing business, this business idea will also require a somewhat larger initial investment. You’ll need to purchase (or lease!) your vending machine and find a good location for them.

You can expect to spend a few thousand dollars if you plan to purchase a vending machine.

If you’re looking for more info, check out this post on how to start a vending machine business!

Start Online Trading

Online trading can be a lucrative side hustle for those interested in the stock market and investing.

With little to no experience, you can start by opening an online account on platforms like TopStep, which offers you a safer passage into the trading world. You can then practice with virtual money before investing in real cash. You can also take courses or read books on trading strategies to improve your skills.

While it may not bring in immediate income, successful traders can make a significant amount of money in the long run.

Become an Online Personal Trainer

Personal training is a much needed service in the United States and all across the world. With more 2.1 billion people considered overweight in 2013, personal training is a great way to make money and help others at the same time.

To get started, you’ll need to get certified through an accredited institution. This training will cost around $1,000 or less. Once you’ve obtained your certification, you can offer your services to those in need.

By conducting your training online, you can make it even more passive than in person training sessions. By pre recording sessions, you can ask clients to perform your video training, eliminating the need for your time.

The amount you can make varies, but many trainers will charge $35 to $50 per 30 minute session.

Conclusion

Whether you’re looking to make a few hundred dollars extra per month or turning your business into a full-time job making over $40,000 per year, it all begins by getting started.

Making money is always a challenge, but by utilizing these creative methods, we hope that you can boost your income.

What are your favorite ways to make money? Comment below!

There’s nothing wrong with wanting to increase one’s net worth. Of course, you don’t want to spend all your waking hours doing hard work and not having any free time to enjoy the fruits of your labor.

That is why it makes sense to consider some passive income ideas and investments for the future. As you may have gathered, such an approach means that you earn money even while you sleep!

There are many ways to make a passive income, and it’s now easier than ever thanks to the evolution of the Internet and technology. So, are you ready to start making some money? Good! Check out these 10 insanely brilliant ideas to give you some inspiration:

Image Source: Flickr

1. Peer-to-peer lending

If you’ve got a pot of cash just sitting around and not doing much, it makes sense to invest it. As you know, there are a plethora of ways to make your money grow from investments and one of them is with peer-to-peer lending.

In a nutshell, you act as a lender to one or more borrowers. You get to decide how much of a risk you are willing to take, and you earn a fixed sum of interest on the money you lend.

2. Property

Everybody needs somewhere to live, right? Well, you can capitalize on that fact by investing in residential property.

You can buy a passive income property and rent it out to tenants to make a fixed income each month. And if you don’t want the hassle of dealing with inquiries and repairs, you can appoint a management company to represent you.

Image Source: Pexels

3. Forex trading

You might think that currency trading is something only big investment firms and banks do, but it’s easy to become a retail trader! All you need is a small deposit to open up a trading account with a broker.

There are many types of forex trading strategies you can follow. For instance, if you prefer to get in and out of the market quickly, you can opt for a scalping approach. Or, if your time is much limited, you could leave positions open for several days if you’d prefer not to be an intraday trader.

4. Vehicle rental

These days, many people prefer the convenience of driving around in a car instead of using public transport. Of course, not everyone can afford to cover the costs of owning and maintaining an auto.

The Internet makes it easy to rent out your own vehicle to people that need a car for just a few hours or even a few days. It’s a viable option if you’ve got a second car that you seldom use.

Image Source: Pixabay

5. Photography

Do you enjoy taking photographs in your spare time? And are you able to capture the essence of your subjects? Perhaps your friends and family call on you to take pictures of them at special occasions like weddings?

If that’s the case, you should consider selling some photographs on stock photo websites. You earn money (a commission) each time someone buys one of your snaps. So, if you upload plenty of pictures, you’ll have a better chance of making a higher passive income from your photos!

6. Mobile App

Do you have a fantastic idea for an iOS or Android app? A stock charting app, for example. And do you think it could generate money for you? If so, why not put that idea into fruition! Believe it or not, you don’t have to be a programmer to create an app these days.

Websites like AppyPie let you design and develop apps that can do just about anything. Plus, you can create ones with advertising if you wish to provide a free app to your intended audience.

Image Source: Pexels

7. Affiliate Marketing Website

Another “set it up and forget about it” idea to make a passive income is an affiliate marketing website. It’s a subject you’ll find quite popular both on this very blog and across the Web in general.

The way that it works is simple. You set up a niche website that promotes one or more products or services. If visitors click on your affiliate links and visit your partner site, you’ll get a commission each time a sale gets made via your site. Quite simple, don’t you think?

You may want to read: Making Money Through Affiliate Marketing – Some Tips by the Experts

8. Storage center

If you own an expanse of land and have some storage facilities on it, why not rent them out to people? It might surprise you to learn many individuals and businesses are looking for low-key storage solutions.

Let’s say that you live on a farm and you’ve got a building that isn’t used for anything. You could secure it and offer it as one or more storage units to people. It’s a handy idea for those that want to store valuables out of sight, or are moving home and need somewhere temporary to store their furniture.

Image Source: Wikimedia Commons

9. Drop Shipping

In case you didn’t know, drop shipping is where you sell products to customers but have a fulfillment company send any orders direct to them. As you can appreciate, it’s a way of selling physical goods without needing to invest in any stock. A lot of sellers on sites like eBay and Amazon Marketplace operate in this manner.

You might think drop shipping isn’t entirely passive, given that you’d have to spend a lot of time processing orders. But, it’s possible (and easy) to automate the process! You can even hire a virtual assistant (a freelancer) to process orders if you still want the human element left in the process.

10. T-Shirt Designs

Last, but not least, another way to use the Internet to make a passive income is with T-Shirt design! If you come up with some cool and attractive illustrations or photos, you can have them printed onto T-Shirts that customers can buy online.

The beauty of such an idea is that you don’t have to do any printing or buying of stock!

Websites such as CafePress allow you to earn royalties from the designs that you upload to their site.

The great thing about apps is that they have the slight chance of mass use — which means a ton of profit. The downside is that the market is saturated with mediocre copycats of the same idea. For your idea to work, it has to be unique beyond the other options. It has to provide a clear and immediate benefit to the user that surpasses the utility of other options on the market. With the growing accessibility of technology, anyone with a smartphone has the opportunity to explore a variety of smart phone side hustle apps, allowing them to make extra cash while leveraging the power of mobile devices.

Here’s five of the most lucrative niches available in the app development sphere.

1. Fitness and health

The health and fitness industry has grown massively over the years. The introduction of wearable fitness devices has made interaction with smartphone apps more viable than ever.

Popular apps either track calorie intake, create workout programs for users, or provide UI-based recommendations for daily activity. Other apps connect users with their own personal trainer virtually.

2. Finance

Customers buy into an idea when they see utility and value. One of the most practical and valuable assets available is finance management — it has the potential to both make the customer richer and get out of debt. Finance apps can come in a variety of forms like budgeting, investments, or banking.

Tax apps are also a useful option; apps that track business expenses and make tax preparation easier with automatic driving distance tracking and expense management are always useful for business owners or freelancers.

3. Telemedicine

Telemedicine apps are a brand-new niche with a ton of potential. People are obviously seeing the benefits of telemedicine platforms and developing such apps can be extremely profitable if done right.

Apps like Lemonade and platforms like Strut connect patients to doctors over video call. After a brief consultation, medicine is prescribed and shipped to the patient’s door. This system eliminates so many problems with the current healthcare system, including wait times and the potential for infection while at the doctor’s office.

4. Travel

Travel is one category that isn’t completely oversaturated with bad ideas. Apps that track flight info, help users get around airports and find affordable hotels are all great options in this niche.

One of the best ways to incorporate technology into this niche is to develop a system for scanning for deals and resources. The other side to this niche is gathering info from local experts — or even offering a service that connects travelers to expert tour guides.

Apps that provide city tours without a physical guide are also a pretty viable option. They provide the info of tours without the pressure of staying glued to a guide the entire trip.

Nightlife guides are also a much-needed help in this niche. People generally want to go where the locals are going, and it’s hard to find out where that is without some valuable inside information.

5. On-demand service apps

Service apps like Instacart or Uber have taken a ton of the profit in this sphere — but there’s still room for competitors, or, better yet, a totally unique idea. Services like automatic bill payments and transportation are pretty saturated as well. Other options that aren’t as obvious include moving services, pharmacy delivery, handyman services or interior design.

Interior design is a growing trend in this niche — apart from having a real person show up at your door with design recommendations, apps can allow you to place furniture virtually in your room to see how it might look with your current decor.