If you take a quick glance at the so-called “gig economy” in the UK, you’ll see that this entity has more than doubled in size since 2016.
This has much to do with the growing number of part-time workers and freelancers in the gig economy, with 48% of this community also holding down a separate, full-time job.
The question that remains, of course, is what are the best ways of leveraging the gig economy and making money online from home? Here are some ideas to keep in mind:
Ever since the emergence of online shopping and eCommerce giants such as Amazon at the turn of the century, people have been able to sell both bespoke items and second-hand goods as a way of realising profit online.
This marketplace has evolved considerably, however, enabling sellers to create a more professional online operation by leveraging the practice of ‘dropshipping’.
With dropshipping, you’ll identify in-demand products and items among customers, before buying these in bulk at wholesale prices. Then, you’ll sell them on and dispatch them at retail prices, with the difference between these two values representing your profit.
When selling goods in volume through this method, you can optimise your profitability and make considerable sums of money over time.
#2. Social Media Management and Blogging
If you look at the most in-demand job roles in the gig economy, most are digital in their nature. One of the best examples is social media account management, as brands look to hire freelancers to oversee engagement through their profiles and drive specific social campaigns.
Social media bloggers and content creators are also in high demand, so those of you with the requisite skills can market these successfully online to create an additional and potentially lucrative income stream over time.
Of course, online blogging also remains a popular pastime, although the halcyon days of this practice may have passed during the noughties.
The key is to create a blog that shares your passion or knowledge, while also monetising this through paid (and relevant) advertising or the sale of guest post spots to similarly authoritative voices.
#3. Trading and Investing
If you want a truly passive income stream, you may want to consider derivative trading or financial investment.
Derivative options such as forex trading offer the most flexibility in terms of liquidity and leverage, while using Oanda trading you can analyse markets to make informed, real-time decisions that enable you to leverage market volatility without assuming ownership of the underlying financial instrument.
If you have a slightly more risk-averse outlook, however, you may want to consider more secure buy-and-hold investment assets that offer a more secure store of wealth.
Stock and commodities such as gold offer relevant examples, with the latter particularly valuable and in-demand during times of economic tumult.
#4 Online Surveys
Taking online surveys has been a popular earning method for years. Survey selection is expanding as time passes; nowadays, you can choose from many exciting topics to give your opinion.
There are many traditional survey providers such as Swagbucks or Inbox Dollars. All you need to do is pick the survey provider and start earning quickly.
If you want something new, however, there is a platform called JumpTask. It is a gig marketplace where you can complete online surveys and earn on the side. There is a twist: you get paid in cryptocurrency JumpToken (JMPT). Therefore, you complete not only engaging surveys but also get a chance to discover the crypto world.