Stop for a moment and imagine if it were possible to earn a living from your talents and skills. You heard that right! What if you could use your talents, skills and passion as a form of side hustle that eventually becomes your primary income source?
The US today is home to over 28 million small businesses. An estimated 22 million of these are solo-preneurs, single standing business owners. And most of these got started as a combination of passion and skills, which was then scaled into a veritable business venture.
As your work life develops, there are skills you must have picked up along the way. Outside of work, there are talents you might have, passions that burn deep inside of you which you might have fostered and nurtured. How can you turn your finances around using these skills?
Blogging is one way to translate your skills and talents into earnings. Your blog could aim to teach persons the skills you’ve learned over time or it could be designed to keep people informed and/or educated. If you keep providing useful, helpful tips and valuable information, readers will quickly associate with you. As your audience grows, you can monetize your blog through advertising revenues or affiliate commissions.
Develop an online course
Have a skill that can be taught without personal contact? Why not take advantage of the internet and create an online course? Such platforms as Udemy and Lynda allow you to create courses centered upon teaching your professional skills. Look out for what people in your industry desire to learn and prepare a course to walk them through this knowledge, combining personal experience stories, screenshot tutorials, and video lessons as necessary. Market your skills using established platforms such as Skillshare, or even social media platforms like Facebook, LinkedIn, etc.
Become a consultant
If you have deep technical knowledge of any subject, you can always offer your skills to those who are willing to pay. Becoming a consultant could involve working on short term contracts with various companies to educate their staff. You can also try online coaching, offering your teaching services on a per hour basis. This line of business is best reserved for those who are skilled at patient teaching, though.
Become a freelancer
If you have acquired or developed a marketable specialized skill that can be used for small projects or as a part of a larger product, freelance work might be just what you need. Much like consulting, it involves taking up short term contracts for specific projects. There are more than a few skillsets that can be monetized through freelancing, including graphic design, content development, digital marketing, etc. Getting into the right circles and carrying out some form of self-promotion can help you accumulate a few freelance clients – even if you choose to remain on your day job.
Write an eBook
Digital products are becoming increasingly popular and useful. Rather than spend time publishing a book, you can always develop an electronic book centered upon your skills. Consider an eBook like a series of helpful interconnected articles that cover a particular topic with a specific goal in mind. If you already run a blog, collecting all of your accumulated knowledge on the blog is one way to start; but you can always write one from scratch. Be sure to consider the level of demand for the topic in question. You can always market your eBook independently or make use of such platforms as Amazon Kindle Store.
Run a YouTube channel
For those interested in visual teaching, or those with skills that are best learned by observing the teacher, YouTube offers a platform for use. You can consider it a video blog that lets you teach your skills in front of the camera. Your YouTube channel could host videos that film you doing something, while explaining the what and the why of what you’re doing, or the videos could simply film your on-screen actions, with your voice in the background explaining your actions. You can always monetize your channel through ads, and you don’t spend on hosting.
Become an affiliate marketer
If you are a great salesperson, this is one way to earn from your skills. As an affiliate marketer, you earn by promoting digital products created by others. Certain affiliate partners offer as much as 50 – 70% commissions on every product sold. The success of any affiliate partnership depends on how well you market the products you choose.
Take the plunge!
For many who are scared of the cost of starting their own business, there are multiple ways to start earning from your skills and talents with little or no overhead costs. Be sure to keep in mind that your success depends as much on your skills as it depends on your ability to help others using this skill – either by providing them great products or by transmitting your knowledge to them. Interestingly, you do not have to quit your full time job to start earning from any of the above ideas.