The world has changed since it went into lockdown, accelerating many of the trends which were predicted to happen over the next five years: increased working from home, shopping online, video streaming overtaking cinema, boosting the green economy, etc. And many of these trends are not going away.
These trends have opened up many new business and career opportunities which can be set-up on a shoe-string budget, yet have the potential to be a nice source of income for anyone looking to make money from the comfort of their homes. Moreover, the best thing is that doing business online means your clientele is not restricted to small Gibraltar, but instead you can reach clients from every corner of the world.
Here are a few ideas of online professions which are expected to be highly in demand as a result of COVID-19:
With millions of parents having to cope with home schooling while trying to work from home, anybody who can teach online is a godsend. And video platforms such as Zoom and Google Hangouts have become ubiquitous in lockdown. It could be that you are already a qualified teacher or that you have a skill, such as music tuition, you can market. If you’re a personal trainer or gym coach, you can also offer online tuition and then meet clients in the park. Online fitness has boomed during lockdown with cult yoga teacher Adriene Mishler getting over 7 million subscribers for her YouTube videos, while PE teacher Joe Wicks had become a UK household name with his 2.5 million YouTube fans.
If you have a good ear and can type quickly, a transcription service is a great business idea that allows you to work from home with a flexible schedule. Medical transcription services are especially needed as voice recognition technology proliferates for healthcare provider dictation. To boost your business prospects and justify charging more, consider becoming a certified transcriptionist and delving into a few specialties.
COVID-19 has stimulated rapid shift to online retail as the internet has opened up entrepreneurs in other countries to English-speaking markets and vice versa. This trend has created an opening for multilingual speakers to offer specific services, such as document translation and the translation of website information into languages for use in other markets. If you know multiple languages, carving out a niche in the translation services industry could be a successful endeavour.
The importance of the internet grows with every passing day, making it harder all the time for businesses to cut through the clutter and properly market themselves. Digital marketing services are always in demand, and many small and midsize companies would rather outsource it than establish a costly in-house team. If you’ve got some knowledge in SEO, content marketing, pay-per-click, web development or social media management, you could have a business opportunity that allows you the freedom to work from home.
Digital marketing is an important part of a brand, so it’s critical for you to respond to developments in your clients’ marketing strategies. You may also consider becoming an affiliate marketer, which is another form of digital marketing.
Dropshipping is a fairly new retail model, ideally suited to someone setting up their own business for the first time. The beauty of it is that you don’t actually have to handle any stock, and that you act as an intermediary for a supplier or manufacturer. Basically, you set up a website selling products, often from multiple suppliers overseas, and you take the orders. The sales orders are forwarded to your manufacturer or factory and they dispatch from there. However, you are responsible for your own marketing and customer fulfilment. Dropshipping has become an increasingly popular way to make money over the past few years, whether it’s for teenagers making extra money or those who have retired.
As people shift from office work to working from home, the need for Virtual Assistants is likely to rise. Today’s virtual assistants do much more than taking your calls, scheduling your appointments and generally organising your life. Common tasks now include organising social media posts, producing podcasts and building and maintaining websites.
How do I start a small business from home?
Starting a business from home is not much different than setting up a business in the traditional way. There are many questions to answer, such as how much it will cost me to get started? How would customers find me? How much is realistic to charge for my service? As well wider issues of licencing, tax and accounting. At Benefit Business Solutions, we offer a “JumpStart your Business” advisory pack at a very affordable rate, that will address your key concerns and give you the tools to drive your business to a flying start!