Escaping the 9 to 5!
You have probable heard of the fabled Nomad lifestyle. For those who haven't it is the ability to work from anywhere with only a laptop and an internet connection. Making money from your bedroom or a beach. But how realistic is this dream?
Let's dispel some myths!
- It's easy. Yes it is after you have found your path but at the beginning it is not. A lot of sites hype up the ability to launch a site on a Monday and become a millionaire by Friday. Or worse, they sell you a site that they have built which will make you rich. When you see offers like these floating a round then I suggest you take a step back. Evaluate why they are giving this information away. What is in it for them? If they can sell you a site which will make you a millionaire, why aren't they building 10-20 of them to make themselves 10-20 million? I saw an advert today for sites they were selling for £5000, which could make £7000 a month. Think about it, they would just keep them if it was so easy. The same as sites which offer one simple trick for £17. If they were rich why share it for only £17? There are scams all over.
- There aren't any ways to make money online, everything is a scam! Related to point one. So many people are selling the dream and not information, people believe it is impossible to make money online unless you're Amazon or Google. But let me tell you there are a lot of ways to make money online but you will need to be a little bit creative.
- The market is saturated! Well it is if you do not have your own angle and try to do what every one else is doing. It is no different to opening a cheap clothing shop next to Primark. They will dominate as they have the supply lines ready set up to beat you on price. On the other hand, opening a luxury clothing store which offers free champagne for customers whilst they wait for their tailor made suit with World Class Tailors will blow the competition away. Online is no different, except maybe harder as it so easy to compare prices and if you are buying the same stock as everyone else it can be a race to the bottom on price. This doesn't mean that there isn't plenty of money to be made still though.
- People like me can never do something like this! This is a myth, it doesn't matter why you think you cant. I bet you can if you are willing to work at it!
Do you want a job, a business or a side hustle?
Now we have gone past the myths surrounding working online we now get to the question of do you want to build a business or replace our job?
A job is trading your time for money. You can do this on an employed or self employed basis. Either way it is signified by you being paid per hour or work. There is nothing wrong with this! If you would like to do this online then there are a range of ways, I will go through soon.
Alternatively a business is offering a product or service where you do not charge per hour for work. The benefit of this is that it allows you to scale, if the demand is there.
Finally a side hustle is signified by the ability to make money where your work does not benefit any one over than yourself. In 2018 this is harder than ever but still possible. I will go through some ways at the end.
Online Jobs to Escape the 9 to 5 and Work from Home
This brings me on to ways you can work from home and get paid for it. The easiest way is with an online job. Choose something you are good at and sell that as a service. There are a range of marketing places you can do this on:
- Fiverr.com - this started off as a market place where you sold your services, surprisingly, for $5. However you no longer need to limit yourself to $5 and can charge a more appropriate fee for your service. Possibilities are endless on here. Have a pretty view? Charge people for a photo with you holding their name up in this view. Can draw weird pictures? Charge people for one. You may get the idea. Anything you can do, throw up a "gig" and see if any one is interested.
- Upwork.com - I would call it a more grown up marketplace. This is where you will need to have some skills to trade. This can range from article writing, to seo skills, to web development, to social media manager, to translating, to customer service, to accountancy, to.... etc. Depending on what skill set you currently possess your earning potential is huge, if you are good. To get started here you will need reviews, a 5 star review will get you on the way to picking up other jobs. You may need to throw a couple of freebies in (hit me up if you would like to offer a free service to me for a review...) but once the ball is rolling this is a great way to work on your own terms.
There are many other similar sites like this, so do not limit yourself just to these. I've used them as a way to show the different ways to have an online "job". Now like I said before there is nothing wrong with having an online job. It can be a great way to become self employed, work on your own terms and live a nomad lifestyle. It can also be a great first step.
Online Business to Work from Home
This is really where most people want to aim or see themselves aiming eventually. Online business range massively and my post will only briefly go over a small segment of ways. I mainly want to show the ways which offer the least cost and people can start quickly, some will be more difficult though and will require more upfront funding.
- Amazon FBA - A lot of people still do not know, however Amazon is not just a retailer it is actually a market place. This means you can sell your products on Amazon. What is more than that, you can actual have the difficult part of stock handling and shipping processed via Amazon's Fulfilment by Amazon service. What this means is you store your stock with Amazon, they handle the website, payment processing, shipping, delivery and returns. You are responsible for sourcing the stock and advertising the stock. There is a lot of money to be made in this, personally I have never tried it so my understanding is limited to the model. However if this is a model that interests you, I can highly recommend you have read of this blog for inspiration Sampriestley.com
- eBay business - This used to be the go to however I think Amazon has overtaken it with their FBA model. You can still make a lot of money on eBay and there are slightly higher barriers to entry, as you will need to purchase, store and distribute the stock yourself. The main sticking point with eBay is becoming a powerseller. Usually people sell at break even, or a small loss, until they reach powerseller status. Once there your products appear at the top of results which means more people are likely to buy from you. I have a bit more experience on eBay after running two businesses on there. One unsuccessfully, a diamond jewellery site, and one successfully, a niche motorcycle parts shop. Looking back I can see why both businesses went the way they did. The diamond jewellery business was selling products with a good markup and were really quality products. However I did not have sole access to the suppliers, I did not have my own angle and was just throwing up what everyone else was. I therefore could not compete against the big companies. On the other hand, my second business selling niche motorcycle parts was a huge success. I was one of a limited pool of suppliers, I could afford to undercut any competition who tried to emerge by building a great relationship with me supplier and I built up a huge following in the Niche. I sold this business 8 years a go now and my name is still mentioned often in the niche, with my phone still receiving calls today (a lesson for any one, use a new number for each business so you can sell it with the business).
- Affiliate marketing - At it's basic form, this is getting paid for referring customers to another business.
This could be on a pay per lead model, pay per call, rev-share or commission per sale model. To partake in this you join an affiliate program, through a company or a network, and promote the offers you are given and get paid for everyone you get to complete the terms of the offer. No stock, no finding suppliers, no managing customers...sounds easy doesn't it? Unfortunately everyone thinks the same and with the barrier to entry being so small you have a huge amount of competition. Do not let that put you off you can still make a lot of money very quickly, you can also lose it just as quickly. Generally if you decide to go this route people will say you have two options; SEO or Paid traffic. SEO is serach engine optimisation which means you build a website and optimise it so that you receive traffic from search engines. This traffic then follows your offer and signs up, meaning you get paid. Paid advertising on the other hand means you pay to host your banner (there are other methods but I'm keeping this simple) on someones site, when someone clicks on it they are taken to your website and hopefully sign up for the offer. If your cost to advertise is lower than the commission you receive you are profitable and can scale. People can, and do, scale to $xx,xxx per day with this method. Do not fall into the trap thinking it is easy though. Both of these methods have a lot of competition, money can be made but it's more difficult than it used to be. However if you can think of a way to get traffic to your offer with going down these two well trodden paths you can make a lot of money. Think outside the box and the sky is the limit.
- E-commerce - Simply you own a webshop, you buy stock, advertise your site and sell your products. People will disagree with me but my advice is do not buy a load of stock before working with one of the other models first, having a pile of stock you can not sell is a disaster and the skills to rank and promote your shop can be gained by being an affiliate first.
Side Hustles to Work from Home and Escape the 9 to 5
Now this is what I like. The ability to conjure money up from thin air. The ability to log onto your laptop on be a £100 richer in half an hour. Let me warn you though, this is a grind. What works one day might not work the next. My site and advice will give you the ability to do this but I can not say for how long. The aim of my site is to guide you through the beginner. Guide you from being a newbie to earning money. Show you the ways of the internet and show you there is another path. Unfortunately a lot of these ways do not add value to any one other than you! This means the routes are constantly getting closed. For the record I will never scam anyone, I have a hatred for scammers so if you think a side hustle is an open door to scam then here's the door!
- Matched betting - Well it's a big source of my income so I couldn't not include it! It is an easy way to build an income online quickly, easily and with full instructions written out for you.
Don't get me wrong though it is a side hustle. Bookies do not benefit from it. There legitimate customers do not benefit from it. The only person who does is you. So drain the tank whilst you can. As bookies will happily drain peoples bank accounts I am happy to drain theirs.
- MFA - or in other words "Made for Adsense". These are websites built just to make money from Adsense ads. The goal of the site is to get traffic, usually from google, and the user to click on an advert. People do still make money from this model but in my opinion the good easy times have come to an end and this will get harder and harder. Plus you can make more money by owning a products and selling it on your site or joining affiliate networks and selling advertising on your site. To really make money with this method you need a lot of traffic which means creating really good articles and networking. It is not easy any more and therefore not really a side hustle.
- Niche hustles. Yea not much explanation here as if I release them too the wild they will be saturated and worthless very quickly. Going to take some outside thinking here but there is still a huge opening for money making online without going down the usual channels, trust me on this one.
Ready to leave work and become a Digital Nomad?
Good, well where to begin and the quickest path.
Start with matched betting it is the quickest, easiest way. It will teach you important money management and show you that there is a way to make money online.
From there my step would be to become an affiliate. But create your own angle. You will competing with a lot of people but the majority are sheep. They will rip off and copy each other until the method is worthless. Be different. Do not become a sheep. Think outside the box and riches will follow you.
From there the world is your oyster, you can choose which ever path suits you. The skills you have learnt will take you far in which ever path you take.
Good luck, Do not forget to sign up for our newsletter below which will help you follow this path to riches!