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Boost your income whilst starting your business

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The initial start up phase of a business is always going to be tricky. Now, more than ever, you need to make sure your finances are in excellent shape for the months ahead. One way to do this is to start earning some extra cash on the side. This can help you to raise the capital you need to set up, or it can help keep you afloat until your business begins to make a profit. Here are some ideas for ways to make money on the side in the meantime.

E-commerce 

You don’t have to own a  bona fide online store to make extra cash. Lets say you clear out your attic and find some antique books for example, or some retro furniture that might catch a collector’s eye. You can easily use existing websites like eBay and Etsy to sell this stuff online, using a platform that already gets a lot of traffic means your pretty much guaranteed to make a quick buck.

Rent out your assets

You can rent almost anything these days, from your garage to your lawn mower. That spare-room full of junk could be cleaned up and rented out as a work space for a freelancer. Parking spaces are also something you can rent out for a tidy profit on sites like JustPark.com, especially if you live in a sought after area.

Online jobs 

Remote working is steadily gaining traction and you can do a huge variety of different jobs online these days, without leaving the comfort of your own home. These jobs are great for people who have busy schedules and need to fit their working hours around a new business. The key is knowing about the jobs that other people haven’t thought of. Online casinos and Bingo halls, for example, need staff to act as online chat hosts who interact with their players and create a sense of community.

Freelancing 

Another way to work remotely and earn money is by freelancing. People usually think of writing or web designing when it comes to freelance work, but there’s a whole host of options out there to take advantage of, depending on your skills. If you speak a foreign language, for example, why not offer your services as a translator or an independent language tutor? You can also try being someone’s virtual assistant, taking on admin jobs that larger businesses don’t have time for. The great thing about freelancing is that you choose how much work to take on, so it’s a great way to make money on the side while you’re juggling a new business.

Bed and Breakfast 

If you have a spare room or two in your home you could set up a bed and breakfast for tourists and visitors to your area. This involves very little overheads – some nice bed linen and perhaps some tasty breakfast supplies are all you need to get started. With user-friendly websites like Airbnb there is no excuse not to give it a try.

These tips are just a few ways to make extra cash while you’re in the early stages of starting your own business. What are your favourite ways to make extra money?

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