If you’ve ever dreamed of becoming your own boss, and having a revenue stream that depends exclusively on work that you perform from home, then you can become part of a growing movement of 38 million home-based businesses in the United States. Individuals can leverage the power of communication technologies to work from anywhere, including their own homes. You just need a business concept, an internet connection, a computer, and discipline. If you have the latter three but are missing a concept, here are some ideas to help you start a revenue stream from anywhere.
Freelance services
Did you know that the number of independent contractors has increased by 27 percent more than regular employees? Much of that has to do with the use of technology, including apps like Uber and Airbnb. If you have a particular skill set, it’s possible to offer those skills to people looking for assistance but not hiring full-time employees.
These services are not limited to specialized areas of the economy. Freelancers earn a living by copywriting, developing software, helping with Instagram marketing, among many other talents. Furthermore, statistics suggest that this isn’t just a temporary fix for being out of work. Most freelancers intend to continue offering their services and do not intend to return to the job market. The flexibility of hours and types of work make this an ideal scenario for those wanting to start working from home.
E-Commerce
Selling merchandise online is another job you can perform from home, and you can use e-commerce to add to your income with little trouble. Furthermore, starting this type of business is simple, quick, and relatively inexpensive. The first step is to source products, and this can easily be done by purchasing in bulk from sources like Walmart liquidation resellers, which are full of interesting items to sell. Afterward, you can sign up for an eBay, Amazon, or Bonanza account and begin posting items for sale on those marketplaces.
To simplify the process, many sellers also open accounts with UPS and the United States Postal Service. This will allow them to schedule daily pickups that will free up more time to focus on selling and marketing. Sellers can even specialize on a category of product and begin selling said product on their own website to expand the income stream further.
Trading equities
Trading equities in the stock market is another financial activity that you can perform from home or anywhere else. Although many consider this activity to require a massive amount of capital, some strategies, including day trading penny stocks, are more ideal for investors with limited amounts of capital. But one thing to consider are the transactions’ volatility and the risk of losing money. Therefore, set aside capital for this venture that you’re willing to lose, and pair it with another income stream to avoid depending exclusively on this. The high volatility of penny stocks also provides the ideal conditions to generate a profit relatively quickly.
One of the most popular ideas involves understanding the price fluctuations of penny stocks and predicting when these changes may occur. Investors need to be able to identify when a larger change in price is occurring and benefit from the growth while also realizing that the stock must be sold at a particular time to avoid being caught in the selling frenzy that will drop the price. When done properly, this activity can be a great source of income for those wanting to work from home.