10 Ways to Turn Your Salary to a Profitable Business Venture
10 Ways to Turn Your Salary to a Profitable Business Venture
How to Turn Your Salary to a Business Venture
Having a salary job is good, but it limits your financial freedom. No matter how much your salary is, it isn’t enough for you to gain financial stability.
Depending on only your salary is like putting all eggs into one basket, what would happened if money stops coming from that source. It is wisdom to have money following from more multiple sources of income.
Your goal in life should be financial freedom, and trust me you can’t be financially free receiving an income only 12 times a year.
No one is in any way telling you to quit your job, we want to open your eyes to endless possibilities that comes with having extra streams of income. It is always safe to have a backup plan. One you would retire, what you would fall back on?
The best time to start planning for the life after salary work is now, waiting until when you retire is leaving it too late. It doesn’t have to be a huge investment that cost millions. You can start these businesses with a part of your salary.
If you want to build another stream of income, an evening side-job might be the best for you because it doesn’t affect your salary job, and cash keeps flowing to you. There are huge varieties of side business ventures you can do from the comforts of your home, especially with the advancement of technology.
Below are some of the business ideas you can go into to earn extra income, while still working on your salary job.
- Start an e-commerce business
You can start selling on e-commerce sites such as Jumia, Konga and others. it is one of the ways you can make some extra cash after working hours. You can work anywhere with an internet connection, and you get to choose your working hours. It is one of the ways you can rearrange your home while making extra cash.
You could start with the items you’ve compiled in your home. And then, grow it into a full-time business venture where you get products online and resell them. It can grow to become a great business venture even if you start with a little capital.
- Virtual Assistant
This is one job that can be done by people who are able to multi-task. As a virtual assistant, you get to do other people’s administrative works, schedule meetings, reply to emails, handle social media accounts, etc. It is not an easy job as it were, but it can earn you a good income. All you need is probably a laptop and a good internet connection.
10 Ways to Turn Your Salary to a Profitable Business Venture
- Transcribe
Transcribing is not bad for an evening side hustle. It doesn’t require any skill, other than the ability to type fast. All you have to do is to listen to audio files and type out what you hear. It’s a tedious job, but it is another way to earn some cool cash.
- Create chatbots
In a world where people want instant reply to their enquiries and expect you to be online 24/7. Chatbots are the talk of the town now. Companies are launching into using chatbots for customer care services, marketing, and sales. Chatbots do not require massive amounts of programming, due to the natural language processing and artificial intelligence that powers them.
Creating chatbots is not really complicated, you do not need a lot of coding knowledge to create them. You can also run your own ChattyPeople account; a platform that helps people create chatbots.
Read Also: 20 Guide to Hiring Quality and Productive Staff in Nigeria
- Take surveys
In the digital age, data is cash, data is king. Brand would pay you to compile people’s data which could be later used for targeted ads. Taking a survey is an easy job, but the amount you get paid is determined by the company you are working for and the amount of time required. Surveys only require that you answer questions concerning a product or service, the area you live, demographic questions, among others. But some companies can pay up to $50 per survey.
- Become a salesperson
You can apply to companies to be a part-time salesperson. You could advertise your service to your coworkers and also organize events where people can learn about the products you sell. The amount you earn from this depends on the type of company you’re working for, but one advantage is that you get to choose your working hours and you meet new people.
10 Ways to Turn Your Salary to a Profitable Business Venture
- Teach languages
If you speak a second language well enough to teach someone else, then you can create a business out of it. Even if you don’t speak a second language, you can teach your mother tongue. You can start with a computer, webcam and good internet access. You can also register through an agency, but you will need to commit more time to it.
- Become a search engine evaluator
A search engine evaluator helps companies to search for specific information on search engines, and tell them how closely their results match the search terms. This is a way for them to work on their search engine rankings. With this job, you do not need much experience or equipment to start. Once you’re connected to the internet, you’re good to go. However, you need to be vast in search engine operations (SEO) for a job like this.
- Web testing
This is one job you can do from the comfort of your home even when you are tired. All you have to do is wait for instructions from the company you have registered with, and make sure their website is functioning the way they want. You have to test all the features and be sure the company’s website is easy to navigate.
- Join a direct selling company
Direct selling companies are those that get products and sell them directly to customers. You can choose the hours you want to work and how much you want to invest in the business. You should make sure to join a company that is reliable and joined to a Direct selling association.
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(B.Agric, MBA)
08105636015, 08076359735
Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.
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