Working A 9 To 5 Job? Here's How To Make More Money This Recession
So, according to our good friends at theNational Bureau of Statistics, Nigeria is still in a recession; as if we needed any more reminder of that fact.
Indeed, a quick trip to the market will confirm what Nigerians have known for a while now, that things are tougher than they've been in a long while, possibly tougher than they've ever been.
With each passing day, prices of food and sundry items increase with no sign of ever coming down let alone returning to status quo. Unfortunately however for many salary earners, there's no corresponding increase in income.
So, how does one survive in the face of such odds? By getting creative and working extra hours, that's how.
If you're tired of being broke all the time, here's how you can earn more money this recession:
1. Start a trade: Also known as buying and selling, trading can be a great avenue for extra income once you get it right. Before embarking on a trade however, you should do extensive market research as this isn't a time to plough money into something that will fail. Consider the product you want to trade, the market you're trading in and most importantly distribution - how you plan to source the goods and how to get them to the end user. Also speak with people who already trade in said item(s) to get ideas on how things work, then be sure it's something that will be profitable, food items are always a winner, for example.
Bonus tip: The Bank of Industry (BOI) in recent times has been quite open about their desire to fund business in the agro-economic sector, so you may want to consider checking them out for funding options.
2. Offer a service: The best part about offering a service is there's no initial capital required. All you need do is identify what you're skilled at doing, and then source for people who require your unique skill set. Now it helps if your skill is something that's really in demand, so if need be, you could take a course or training in areas that are in demand to improve your marketability. Services like digital marketing, graphic design, IT, amongst others have seen a steady rise in demand over the years so you may want to consider them. It's also advisable that your service business aka side hustle is not something directly related to your job so the issue of conflict of interest doesn't arise.
3. Register On freelance job websites: There are several freelance websites where you can set up a profile stating what freelance services you offer, and interested parties can hire you if they're sufficiently impressed by your profile. These websites pretty much connect freelancers to people who require their unique services. So if you're a writer, for example, you can create a profile on one of such websites and detail your offerings and someone who requires the services of a writer gets on one of such sites and searches for a writer then options are served. So if your profile is attractive enough to the searcher, you get picked. It's strictly online, freelance and the best part is you get paid in dollars (hello exchange rate!).
For useful tips on how you can use the internet and social media to advance your career, check out www.careers24.com.ng.