How To Make Money During Quarantine – 12 Ways
Covid-19 has turned the world economy upside down. 10’s of millions of people have been laid-off and millions more on furlough.
Interest in legitimate ways to make money in a virtual environment has grown substantially in the past few months. People I have known for over 10 years are suddenly asking me for guidance on how to diversify their streams of income.
Without further ado, here are the 12 ways we show you how to make money online.
#1 – Bookkeeping
Bookkeepers are an integral part of every small/medium-sized business. Even in this economy, Bookkeeping continues to be in high demand. You maintain the books and can alert the company of any financial issues you find, and even better, advise them.
You can run your bookkeeping business virtually. That means you will have the freedom to work from anywhere. You can manage a roster of clients that you provide services for, or you can stick to one large client – it’s up to you and your goals. As a virtual bookkeeper, you can make more than $60/hour.
Learn more about what it takes to be a bookkeeper by registering for a free introductory course.
There is an in-depth course that teaches everything you need to run a successful virtual business (including how to get clients). Use discount code: VET200 to get 20% OFF!
#2 – Build and Sell your woodwork
Whether you’re a professional carpenter or just like to build as a hobby, you can pull in significant income, to the tune of $90,000 – $150,000 a year, creating things and selling them. I build a few things here and there, and I must say, its pretty satisfying.
You don’t need to be an expert to make something people would want to buy. Also, anyone that is into wood-working can tell you it CAN get costly, but it doesn’t have to, for you to make money. The challenge is in knowing what is in demand, who demands it, and how to connect with them.
Here’s a step-by-step guide to help you build a lucrative wood-working business or side hustle.
Businesses, individuals, and authors all benefit from the services of a good proofreader. You can work from anywhere and go through books, documents, websites looking to correct mistakes.
A general proofreader just looks for errors in spelling, punctuation, and grammar. However, you can choose to upgrade your services and also handle the editing and fact-checking for the documents you proofread.
That upgraded service helps your clients with a one-stop-shop for quality proofreading.
Learn about the ins and outs of running a proofreading business here. It covers step-by-step how to earn a good income as a proofreader – successfully.
While most companies are laying-off employees as a result of Covid-19, online retailers are thriving. Specifically, Amazon has grown exponentially during this time, and it shows no signs of slowing down.
So many people are selling products on Amazon and making good money – 5, 6, even 7 figures. The high-level process is simple, find products at a low-cost and sell them on Amazon at a higher price.
That’s where the simplicity ends!
There are a lot of considerations to take into account such as, the demand for a product which could impact your inventory storage costs, getting your products through customs, the importance of building your brand awareness, finding reputable suppliers, negotiating prices, etc.
The truth is, to successfully sell on Amazon as a beginner, you will need guidance.
Here’s a high-value AND low-cost course that is continuously being updated and has more students selling successfully on Amazon than any other program or course.
#5 – Scopist
Scoping is how court reporters refer to editing. A court reporter typically provides a transcript and an audio file to the scopist. The scopist then modifies the transcript to match the audio file.
Some of the reasons people become interested in scoping are – 1. it can be done from anywhere (with internet access), 2. scopists on average earn between $30,000 and $50,000, and 3. the demand for scopists is high.
Scopists save court reporters a bunch of time, allowing court reporters to spend more time doing reporting and earning more money – win-win!
Learn the ropes on how to become a scopist.
#6 – Text to Audio translation/voice-overs
Whether you’re editing sales videos, training videos, or educational videos, you can convert any text to audio.
We’ve all heard “text-to-audio” systems that read like a robot, with no inflection or emphasis. It usually sounds pretty bad, and most of us just run the other way.
Well, this is NOT that. There’s technology that leverages artificial intelligence to do the translation in a way that sounds like a human. According to the software company that owns the technology, they found that 98% of people listening to the translation of text to audio, cannot tell its not a real human.
As a creative person, this technology can make you much more efficient and allow you to scale your services, leading to increased income.
#7 – Affiliate Marketing
Thousands to companies offer affiliate opportunities. The affiliate programs help them to get exposure, so they pay you a percentage of the sales that occur as the result of people using your affiliate code or link.
You can typically sign up to be an affiliate for free. Share your link or code with friends and family. You can also write blogs and social media posts associated with the services or products that the companies sell. Then, insert your code or link so that people can use it to make a purchase.
You can learn step by step, how to make money from the experts that know what sells well, and why? Based on data.
#8 – Transcription Services
A good transcriptionist can save a company a lot of time and money. You will listen to audio and transform it into text. You just type out exactly what the audio recording says so that your clients have a hard copy to refer to. It’s like the opposite of #6 on this list! And also very similar to #5.
There are software options that can make transcription work much easier. You should also have a pedal so that you can quickly and efficiently stop and start the audio you are transcribing without needing to take your hands off of your keyboard.
Learn more about how to make money as a transcriber.
#9 – Virtual Assistant/Consultant
There are many things you can do as a virtual assistant. I think of it almost as a consultant, where you offer your virtual services to companies on a project by project basis, which can be short term or long term.
Some of the services can include social media management, data entry, online research, writing & editing, customer service, answering emails, and design services. This is by no means an exhaustive list
You pick what services you offer and how much work you want to take on. Explore your options.
#10 – Become a Youtuber
If you enjoy making videos and can share helpful, fun, or otherwise interesting perspectives – YouTube is where it’s at!
Content is king as they say, and the more viewers and subscribers you have, the more money you can make, and one of the best ways to increase your views is by having a good video thumbnail.
In addition to software, you will also need hardware. What you need will depend on what kind of videos you plan to create. PC gaming, for example, would be different from vlogging. You will likely need a
You can earn money on Youtube in several ways: Ad Revenue, memberships, Merchandise, Super Chat and stickers, and youtube premium revenue. There are specific requirements for each feature. You can also increase your earning through relationships with sponsors.
#11 – Stock Trading
Stock trading is the riskiest on our list of how to make money during quarantine.
You have to understand your risk tolerance before you engage in financial trading, whether it’s stock, bonds, forex, or other financial instruments.
You can more than double your investment in a short period of time, but you can also lose all your money in the same period of time. You can actually lose more than your initial investment if you get involved in short selling.
After proving your chops, you will have family and friends asking you for trading advice. Just remember that past performance is no guarantee for future results.
Imagine trying to enjoy a hot meal during the holidays, but the only heat you can feel is your sister/brother/aunt giving you the side-eye because you lost their money.
If you do want to trade for others, you will have to get a license as an independent registered investment advisor with the SEC.
#12 – Tax Preparation
One of the oldest on this list is tax preparation. In the United States, the IRS mandates that every individual and business file a tax return.
Tax preparation is often identified as the most stable, profitable business. The most enticing aspect of this business is that you can earn a years worth of income in just 4 months!!
Yes! Within a 4-month period (January – April), you can earn enough for the whole year. That could mean an 8-month vacation, or the ability to do other gigs you find interesting.
The Internal Revenue Service states that you do not need a certification or an accounting background to prepare taxes.
There’s an exciting opportunity to help you do precisely that – you can learn more about the course, however, enrollment is currently closed. Sign up for our newsletter to be among the first to find out when it opens again in the future.
This opportunity is only open to U.S. Citizens and permanent residents.
*Not everyone will qualify to own a tax business, you will learn if you are eligible and what it takes to succeed once you register and complete the free workshop.