Aside Being an Entrepreneur, How Else Can People Make Money?

When people think about earning a good income on their own terms, the first idea they think of is often to start a business. It is a message you have probably heard a thousand times. You see it in books, blogs, podcasts, TV shows and on social media. “If you want to make more money, start your own business.”. In theory, it is a very attractive idea. Afterall, who does not want to make more money and to be their own boss? 

While entrepreneurship is a great way to make money and build wealth, it is not the only way to do so. This is important because not everybody has the skills, capital or other resources needed to be an entrepreneur. Not everyone can meet the heavy demands of time, effort, risk and resilience that comes with building a business from scratch. Also, not everyone wants to. Some people just want a life where they can ensure their family’s financial security. 

The truth is that you do not have to own a business to make more money. There are many other ways to increase your income that have worked for many people and can also work for you. In this article, we will explore simple and proven methods to make more money aside from entrepreneurship, which you can get into immediately. 

• Freelancing
• Information Product Creation
• Affiliate Marketing
• Remote Work

Freelancing

Freelancing (or “working freelance”) means that you offer your skills and services to clients, who can be individuals or businesses, without working full-time for anyone. You work on specific projects using your skills and you get paid for your work. In the digital economy, freelancing has become more popular, especially among people who have digital skills.  

To start working as a freelancer, you can learn in-demand skills such as virtual assistance, web development, graphic design, brand identity design, social media management, data entry, data analysis, content writing, technical writing, copywriting, UI/UX design, etc. Using the skills you have gained, you then work on sample projects and compile them into a portfolio, as a tool to demonstrate your expertise to potential clients. You can proceed to source for clients on social media platforms like LinkedIn or X and websites like Upwork, Fiverr, and PeoplePerHour. 

As a freelancer, you can get paid per hour or per project, depending on your agreement with your client and how you negotiate. With an established personal brand, a robust portfolio, and strong client testimonials, you can command premium rates as a freelancer and earn six figures and above. 

Information Product Creation

From previous experience or education, you have gained some knowledge that someone else needs and is willing to pay for. Information product creation involves packaging your knowledge and skills into products such as e-books, guides, templates, courses, coaching sessions or consulting bookings to sell to people who need them. 

You can sell e-books, guides and templates on platforms like Selar, Gumroad, and Amazon. You can sell courses on Udemy, Teachable, or Mykajabi. Coaching sessions and consulting bookings can be offered on platforms such as Nestuge and Coachli. Selling information products is a sustainable and scalable way of making money while providing value for others. 

You do not need to be an expert to create and sell information products. The knowledge you have is useful and valuable to someone who is two steps or more behind you in that particular area. Information products have the benefit of building your credibility and establishing you as a thought leader in your industry. This can lead to additional sources of income such as speaking gigs, international collaborations, and brand collaborations. 

Affiliate Marketing

Instead of creating your own products to sell to customers, you could choose to promote other peoples’ products and earn a percentage of the profit as commission when customers purchase through your links. This is known as affiliate marketing. 

The internet has made this method a viable means of earning money. The major key here is to find quality products that offer reasonable percentages as commission rates. You can create content to promote these products, whether written content as in blogs and newsletters, or video content posted on platforms like Youtube, Instagram and Tiktok, or image-based content on platforms like Pinterest. 

Affiliate marketing does not require a degree or experience to learn. Skills that would be useful include copywriting and content creation. The model is simple. The more sales you make, the more you earn. One advantage of affiliate marketing is that it serves as a source of passive income. You can put up a blog post promoting a particular product, and anytime someone purchases it through that link, you get a credit alert. 

Remote Work

Working for companies remotely, either in full-time or part-time roles, is another way to earn more money without starting a business. Many remote roles offer you flexibility and increased pay. The potential to earn higher is increased when you work for foreign companies remotely that pay you in their local currency. You can end up earning much more than working for a company based in your country. 

There are several jobs that can be done remotely. From roles like administrative assistants, customer service representatives, data entry officers, technical support staff, and social media managers to roles like project managers, product managers, data analysts, technical recruiters and brand strategists, there is a place for you in the world of remote work. 

You can find remote jobs on platforms such as RemoteOK, WeWorkRemotely, and Jobspresso. You can also connect with recruiters, hiring managers, and CEOs on platforms like LinkedIn and X to apply for remote roles. Furthermore, searching for available openings in the careers section of company websites can also yield opportunities to get a well-paid remote role.

From the different methods of making money that we have explored, it is clear that entrepreneurship is only one of several ways to earn additional income. You do not need to be a business owner to earn more. All you need is clarity, strategy, and consistency. No matter the skills, experience or personal preferences you have, there are paths you can explore to start making more money. 

Leave a comment below and tell us which one of these methods you will start.