Most of us are in position where we are looking to make money. We are looking for creative ways to earn an income, and many of us are not blessed with a load of wealth. There are many ways to invest money when you don’t really have much, and these ways can become profitable for you to generate an income and earn a good living.
1) Flip products (buy low, sell high)
One of the easiest ways is to buy products at a low price, and sell the at a higher price. I have seen people buy toys, collectibles, in demand items (can be baby formula :|), designer clothing, footwear, jewellery and so much more. They buy these items wholesale, or at a cheaper price and then flip them on eBay, Amazon, Etsy, Depop, Gumtree and other online marketplaces. People resell toothpaste and household items on Amazon and make MILLIONS a year, no joke. If you can do this, then it can be a nice little earner.
2) Stocks / Cryptocurrency
You can invest in the stock market, in stocks that you think will go up over time. You can pick stocks like Amazon, Etsy and so many more. It is risky as you could lose your money, and you should know what you are doing. I have heard of people who put money into Tesla before the pandemic, and after they saw stock prices rise through the roof and they made a lot of money. You can invest in the stock market yourself through services like Plus500, Etorro and more.
Cryptocurrency is new and mysterious. It can be very volatile and fluctuate all over the place. There are platforms building on Ethereum (makes you think it could be of value), and many outlets are now accepting cryptocurrency, as methods of payment. It could be a lucrative opportunity if you can get to grips with it. There are platforms like Binance and Coinbase, that allow you to trade cryptocurrence.
3) E-Commerce / Dropshipping
Starting an ecommerce store could not be easier, seriously. Shopify stores are popping up all over the place, as you can build an ecom store on there in no time. They have payment methods built in, and is kind of an all in one solution. They charge a monthly fee for their service, a small investment. People are selling their products, like candles, candy, clothing and more through Shopify and are making a good living.
Dropshipping is a business model where you list items that the retailer holds. You increase the price on your website to make a profit, and when someone buys, the order goes to the retailer to fulfil and ship. Just collect the difference in price and happy days. You can use software like sellvia on Shopify or aliexpress to source products. There is a company called Alidropship, that can build you a custom dropshipping store and help you set up. They are well known in the dropshipping world.
4) Online – Youtube, Websites, Social Media
Build your own online presence with Youtube, TikTok, Instagram and other social media, and get paid to post. You could also start your own website or blog to gain an audience and make an income through adverts. There are so many possibilities to make money online with small investments, it may not be easy but the opportunity is there.
5) Risky – buy and sell social media accounts
This is very risky and I have been scammed as a result of this. You can also have your accounts being shut down but social media companies. There are people, who really know what they are doing, selling social media accounts for big bucks. They know how to grow these accounts and then sell them when they are at 30k, 50k, 100k + followers. You can make money from these accounts and everyone wants a social media account with many followers. It is easy to get scammed. You have to know what you’re doing to buy and sell accounts.
6) Sell your skills on Fiverr, and if you can sell your knowledge try Udemy
Are you good at voice overs, copywriting, SEO, design and more? Then fiverr is a good place to list your skills and get paid. It can be a competitive space, but if you are good you will stand out. If you can teach your skills then sell courses online through Udemy. I have bought courses on photoshop, business strategy and more on there. There are companies selling courses like app development and they make a lot every month. These can be a great way to earn money, if you are good at what you do. It takes a small investment to get started. Checkout Upwork, there may be process you have to go through to list your skills.
You could always start a company that may not require that much money upfront, like businesses that require skill instead of money, like a Social Media Marketing Agency. There are people who are good with social media, so have started companies that help grow social media accounts or help business grow with social media advertising. They charge from £1000 to £15000+ every month per client, what if they had 10 clients a month?
There are many ways we can invest our money when we don’t have any. We just have to find our passion, and what we are good at.