Updated: Dec 22, 2020
-Current job scenario
-Emotional condition of unemployed
-How should you see yourself? Is this a chance or a setback
-Other opportunities to continue your income
Feels like this Corona-virus really checking our limits, doesn’t it?
According to CMIE (Center for Monitoring Indian Economy) 122 million people lost their job in India in April 2020 alone. This includes 75% of daily wage workers.
Not only in India but this pandemic affected employment in every country.
Two-three months after this entire situation becomes normal are going to be very difficult.
So what about you? Do you lose the job or just got the news that your company’s thinking about reducing manpower?
This surely made you worry. And now praying about your name should not be on that list!
Got the bad news!! What next?
Every person after losing his job spends the next few days thinking about how cruel thing done to you by your company.
You must be thinking about your daily routine when you used to go to office daily, having tea
breaks with colleagues and the same angry face of the boss. This must have been broken your heart, and you started cursing the company and at the same time feeling pity about the company because they lost valuable resource like you.
After getting over that deep sorrow you may say, Nah! I didn’t even like that job! And by saying that you must be thinking with motivation about finding a new job that you’ll love.
But think again after this situation when companies will start, will they able to hire new employees?
I’m just saying that searching for a job before Corona was so difficult and now after seeing the current condition of the market, it going to be much more difficult.
Already thousands of companies are firing their employees due to financial burdens. They are seeking relief packages from the government.
Also, the most important thing is they’ve lost one quarter of their financial year and must be thinking about reducing their yearly targets so that it can reduce some working pressure and start companies with less manpower.
Now the most important question is;
How you see your condition? A setback or a chance to do something better?
Why not thinking this as an opportunity to assess you?
Think about it, you’ve got the time till all things become normal and everyone starts their regular schedule.
And this time people even will not judge about your unemployment. Everyone knows the current scenario.
And Harry the neighbor of yours must have also lost the job. You lost the competition now your mother will not compare you with any of those show-offs.
So let’s see this from other angles!
What is best a Job or self-employment?
I know jobs cover your regular needs. A steady job is what people want.
People always tend to choose the steady regular income than fluctuating non-guaranteed incomes.
But think again, does anyone become the billionaire from his 9 to 5 job?
I know what are you thinking? After losing the job in lock down I’m showing you dreams of becoming a billionaire.
Nope! I’m just trying to tell you that if you have time in your hand and new opportunities to grow, why not use this time to think about something big.
I know you got the bills to pay, a baby to feed. But still, this one time think it as childish behavior.
See, you need to keep your bills at optimum less for a few months and also you can make this as a side hustle to your job search.
Once you get successful you can make more money than your 9 to 5 job.
Do you know that freelancers make 45% more money than traditionally employed persons?
I know you’re thinking that you cannot do that. If you’re thinking you’ll fail, you are seeing the wrong future.
Did Bill Gates at age of 25 known that he’ll be the richest person at 50? Did Abdul Kalam already had the idea of becoming the President of India?
No one knows who he/she will become in the future, but what counts is what you do now?
Think about, in this huge economic crunch who are safe now? Whose wealth is still growing?
Do you know that the footballer Ronaldo bought an island to roam freely during this lock down?
When you work for yourself you don’t get the time limit and also there’s no limit to your earnings.
Be your own boss.
At the start efforts to make money depends on your goal.
You want to manage your expenses or to increase your wealth.
Anyway making money is hard but depends on your effort but once you master the technique you’ll be one who teaching others “how to make money?”
So let’s go, count the opportunities crawling ahead;
I know you already know about this business.
Now everyone is attracting towards those blogs and videos which guarantees that “After doing this or watching this you’ll find a way to be a billionaire.”
I also used to watch those videos but I found that actually they are not that easy the way they tell you. In reality they took lots of effort and time.
Also, after doing them for months you’ll end up demotivated but more than that you’ll not earn a single penny from it! (Not everyone though, some lucky ones have earned few dollars)
But of course, reselling is one of the best businesses out there. If you love working from home you have this great way to earn money. This is actually a career for many people which is making them millions.
You need to choose something you want to sell; it can be T-shirts, jeans, DSLR, watches etc. or everything at the same place.
Some of you must have already tried this but maybe you didn’t receive a good response, you failed to attract customers and kept trying and trying but lost hope & ended.
You know what biggest problem with all beginners is, they quit!
Yes, quitting in the middle is the most basic issue why everyone is not successful.
When you fail in something you should review your strategies. Everyone learns something new from each failure.
You can also try to replicate the things that are done by someone expert in your field. Just don’t quit!
I’ll tell you the most important things you should do and done by experts to be successful in this business but before that, for someone who doesn’t know what is reselling and how can you start it, let’s find out;
What is reselling? How can you start your own reselling business?
The meaning is in the words. Re-selling.
That means buying at a cheap price and selling at high.
Reseller works as a mediator between manufacturer and customer. When a company manufactures products, it needs customers to sell them. The reseller helps them to achieve it.
A reseller doesn’t need to manufacture anything, he/she only needs to present the products manufactured by the manufacturer to the potential customers.
You can resell your products on Amazon, eBay, Facebook, OLX, etc.
If you’re from India, you need a GST number, PAN and a bank account to start reselling business.
You can register as a seller on amazon or create a page on the Facebook marketplace.
If you don’t have space to keep your inventory, amazon can help you. It’ll take all your products and store at their warehouses.
Shipping and packing will be done by them you only need to get the payment.
Most important things to consider as a reseller;
1. Resell only quality products
If you try to fool your customers you’ll end up losing them and then it’s time to close shutters!
Check quality of every product and in case the faulty product reached the customer tell them it is by mistake and refund it if possible. Giving replacement is the best option in this case.
2. Make a list of terms & conditions
Making a list of terms and conditions is important. Make sure you show them to your customer in any way possible. It saves you from future confusion and helps you from those ‘over-smart’ and ‘try to fool owner’ customers.
3. Keep your margin within limits
Don’t be so greedy!! Margin is very important but should be reasonable.
You can lose your customers by keeping very high margins. Know that, what you are selling must be sold by another hundred resellers. So try to be competitive but not so much.
If you are giving much more good quality than other resellers of the same product (may-be with a different brand) don’t be too competitive with your margin.
Registering on Amazon and Facebook and submitting your product list is not all.
You also need to advertise your products. Make business pages on Instagram, Facebook, Pinterest.
Showcase your product list and try to find potential customers. Don’t just rely on Amazon. More than Facebook, Instagram is more popular to advertise your products.
5. Attract customers in other ways
Free Gifts!! Expensive Vouchers!! 20% Discount!!
Well reading them like this may not be working but these words really work.
Lots of popular brands still use these techniques to attract customers and they are working gorgeously.
People still attracted to words like Free Shipping!! Free Maintenance!!
Go try them yourself.
2. Affiliate Marketing
Affiliate marketing principle is same as reselling only thing is you don’t need any storage as you’ll not be a seller. You’ll be more like a consultant.
You only need an online presence.
Affiliate marketers share the product links (affiliated links) on their websites, social pages, and when people buy products through this link they get the commission.
Steps to do affiliate marketing
1. Choose a niche
Choosing the right product category is always important. Remember you’re going to consult people to choose the right product and one person cannot be an expert in multiple things.
I know it is possible to be an expert in multiple things but still it seems doubtful.
When you choose only one category people starts to think you’re expert in that. Say you chose wristwatches you can showcase all the popular watches of all brands.
Also, it’s simple to handle only one category as a beginner.
2. Join affiliate program
You need to join an affiliate program. There are lots of affiliate programs available out there.
You need to find that right one that suits your niche and don’t forget to check the terms & conditions.
You need to choose the offers to promote. Find out people who’re doing affiliate marketing in your niche and try to join their affiliate program.
3. Create your affiliate link
Now you’ve chose niche you like and perfect affiliate program. The next step is to create your affiliate links.
4. Share your affiliate links
If you have the website you can share these links on your blogs or you can make a separate site for showcasing the products with your links.
Or you can make Facebook, Instagram pages to show products.
Why people will buy through your links other than directly going to those sites?
So many of you must have this question
For this you need to build the trust and best way to do that is telling your personal opinions and experiences.
Other way to build trust is to share the stories of your happy customers.
Also making posts like the comparison between x and y is the best way. You can make product review videos so that they will know its feature and how it looks in real.
You can also share the photos of people with the product who chosen your product by trusting your opinion.
As this post is already been too long I’ll tell you remaining in short.
3. Make a YouTube channel
This is one of the best online moneymakers. To make a channel is easy but keeping video uploading consistency and driving views is difficult.
But still if you’re patient enough and persistent towards your work, you can be one of those million maker YouTubers.
Freelancing is another good way to start your income online but let me tell what the main problem is;
As a beginner, it is hard to find your first job. There are lots of site like Freelancer, Truelancer, Fiverr, Upwork, etc. but still you’ll not get your first job the next second you create an account on those sites.
Another way to do freelancing is to join the Facebook groups related to blogging stuff and freelancing. The number of bloggers makes groups outsource their work.
5. Online tutor
If you’re good at teaching any subject or good in any field, you can try teaching online.
Udemy is a site where you can teach different courses. You can also teach your native language or DIY arts.
Making a blogging site is easy but driving traffic to your site is difficult.
If you’re passionate and have patience you can easily start your passive income by blogging.
7. Art seller
If you can make any art like portraits, landscapes, handmade crafts, you can sell them on Artfire, Etsy, eBay, FIZDI, gallerist, etc.
See my other blogs
Last one will look a little random but it just came into my mind. So I thought I should share it with you.
If you have enough capital to start a manufacturing business you can try this business.
8. Manufacturing of hand sanitizers & face masks
In this period of pandemic there’s an increasing demand for hand sanitizers and masks. Lots of textile companies started their production for masks.
As the countries were short of sanitizers and masks, the limited stocks of these items were sold at 2 to 3 times the actual price.
That’s why other companies and small distilleries converted this into an opportunity to make business.
Even after all becomes normal people will need to use them more often as they’ll start to meet each other.
You can start this business in 250sq.ft. and has a 40 to 50% profit margin.
Due to high demand for hand sanitizer, the U.S. Food and Drug Administration announced Friday that it will not take action against firms that begin manufacturing hand sanitizer for consumers and health care professionals, the agency said in a statement.
Homemade Hand Sanitizer Making: Sanitizer Formulations (small business Book 1) Kindle Edition
Check the book on Amazon: Homemade hand sanitizer making formulae
(This is not affiliate link)
If you’re patient enough and keep consistent you can make fortune from anything.
To do big things you must be ready to take risks. So just take a leap of faith and see what happens.
In this article I tried to share with you the opportunities you should look into because this Corona situation is definitely damaging the lives of millions.
So look at the bright side and keep fighting for you and your family because in the end they’re all that matters to us.
Try these ways to make some money. I know some of you must have known these already but if you’ve left it in the middle or quit, this is the chance to start again.
Keep fighting!! Stay safe, stay home.
And if you liked my article don’t forget to like and share it.