Since the current pandemic has made a lockdown necessary for communities, the business world has suffered vast losses of income and workflow across the globe. As different industries have frozen up almost entirely, consumers are as much at a loss as the businesses that served them.
However, there is a certain aspect of the present times that must be considered in relation to the current situation. We have been seeing significant technological innovations and progresses throughout the past two decades. The most important function and outcome of those innovations have been to join the communities all across the globe into an extensive, interconnected communication web. The internet and the online world are inarguably the most beneficial and influential results of all those technological advances.
The physical channels of business have been replaced, boosted, or complemented by e-commerce channels at several places and in different industries. The business world could already be seen slowly moving towards more and more automation and online trade. The change that was happening gradually, however, was given a definite boost by the lockdown situation. All physical routes have been blocked while the online business is still rolling.
The reason is that the consumers sitting at their homes are forced to switch to the content, services, and products available online. Internet traffic has undergone a great surge in the past few months as the crisis forces more and more people to stay at home around the clock. The businesses that had previously been postponing their adaptation of e-commerce and e-marketing are now speeding towards both to survive the lockdown.
During this situation, there is also an increased demand for online activities and occupations that are profitable and can be chosen as side hustles. Such business channels can be resorted to in such times of need. When your products and services are available to people online, people are carrying an opportunity to avail your service in their pockets in wonderful little devices called smartphones.
They love that device in their pocket, they use it regularly, and they are going to search you up and find you whenever they need your service immediately. They can visit your store, purchase your products, and pay for your services right from their homes.
To give you a clear idea of the options that you have in terms of alternative online business channels, we have assembled this list of profitable online side hustles.
1. Offer an Online Course
Both business and education have switched from face-to-face communication to online. The academic and professional courses available online are one of the most high-earning e-commerce industries these days. Anybody who wants to spend their leisure time productively will opt for one of those courses. That is how the people offering such courses are earning high incomes during the times of the pandemic.
The stock of zoom (an online conferencing platform) has gone up by a huge margin of 30% in such a short time – why? Multiple academic institutions are turning to zoom to educate their candidates. It allows them to educate people without having to gather them in lecture halls and laboratories.
Even if you don’t run an academic institution or have not taught anything before, you can try to demonstrate and convey your own professional skills in an online course. You can sell your online course to people wanting to indulge in productive activities during the lockdown situation. Platforms like Udemy make it easy to start offering your first course straight away.
2. Webinars, podcasts, and vlogging
While the demand for all other businesses has gone down during the pandemic, (positivity) webinars, podcasts, and vlogs are now facing a much higher demand than before. As people consume more and more content during their stay-at-home period, they are continuously turning to webinars as a way to engage themselves. It is one of the options that you can consider when looking for a way to make a living by earning online. YouTube, Instagram, Facebook, and multiple other channels support such streaming content and also turn profits once you gain a substantial audience.
It’s been a very strange week where we have seen traditional business drop 75% but have had a huge increase in the demand for positivity webinars. So, we learn each day how survive this while trying to keep staff busy and employed.Brendon Foley, SeaChange Now
3. Write and Publish E-books
Reading is one of the activities universally recognized for its productivity and benefits. Everyone from teenage nerds to business professionals is indulging in e-book reading as libraries have closed down and so have physical bookstores. One of the most profitable ways to do business online is to assemble your knowledge in the form of an e-book. You don’t even have to do it all yourself – there are numerous online services available for the copy editing or even writing of an e-book. It can be done based on some information provided by you, and they will also research your field if required.
The next step is to publish and sell that e-book across online selling platforms like Amazon or Kindle. Once your e-book is out in the market with some catchy blurbs or sales descriptions, money will start rolling in continuously as people purchase and review your e-book.
4. Professional Assessments
A professional assessment is a process that produces a well-defined, concise, and crisp report using your specific model or methodology, giving the assessment-taker (and team) valuable feedback. It is conducted for business professionals like coaches, consultants, and trainers who need all this data in an organized form to run their consultancy well. It is one of the services that you can offer online to professionals all across the globe right from your home. Not only that, but it is also one of the most scalable and profitable work-from-home options that you can choose.
I like the fact that Assessments can not only be used in coaching situations, it can also be sold online. This brings me revenue while I sleep, new prospects for our coaching business and more data than I could ever have dreamed of.Kees de Jong, ScaleUp Data
An assessment allows people to have a quick and easy review of their knowledge, experience, and way of working. It offers a detailed analysis of the techniques and strategies that a professional, and the team they work in, has been using as well as their individual and team effectiveness. Professional assessments are high in demand these days as more and more entrepreneurs need some insight into their business processes. You can offer to analyze all the data regarding their business, helping them polish their proven growth strategies even more. Assessments help anyone to reach their next level.
Are you interested to learn more about monetizing your expertise using assessments, then our team would be happy to schedule a free 30 to 45-minute call. See www.espertoassessments.com for more information.