AFFILIATE MARKETING
How to Create Multiple Streams of Income from Home
Opinions expressed by Entrepreneur contributors are their own.
There are lots of ways to make extra money from home. Most require a computer and internet access, and every now and then, you’ll have to find some extra space in your house to set up shop, so to speak. With people forced to stay home, making extra money while hunkered down has become a hot topic among YouTubers and social media influencers, but is it really that easy to generate that extra income? You’ll be surprised at the simplicity of these ideas.
Let’s start with a simple concept — selling the stuff you no longer want.
Sort of like a yard sale
Internet auction giant eBay is just one of many online auction sites providing a facility for people and businesses to sell whatever they want. There are some restrictions on what can be sold but they are unlikely to get in your way if you are selling items you don’t need or use.
For example, that coat you bought and have only worn once; somebody out there will love it and buy it from you. You might have old toys lying around that the kids no longer play with, or even valuable items that sit in a drawer and you don’t think about.
The process is simple. Sign up for an account and start selling. Take a picture, pick the category, describe your item, set a price. That’s it. It’s there for millions of potential buyers to see. The fees are a small percentage, and you could even start a business selling certain types of items.
Related: Work From Home: 15 Options to Earn Extra Money
Take part in surveys
One method of making extra cash is to sign up for online survey sites. You will be asked to take part in surveys by brands who are researching their market. You’ll be paid a small fee — usually, it’s about $1 but sometimes more. The surveys typically only take a few minutes to complete.
It may not sound like a great money-making idea and it is not going to make you rich, but it is a good way of making a few extra dollars in your spare time. Some sites send you an item to test and review — and you keep the item rather than being paid.
Rent out your parking space
Do you live close to a town or city where commuters travel? Or perhaps near a railway station or airport? These are places where parking a car can be expensive, even for a day. If you do live in such a location and have off-street parking you don’t use, why not offer it for rent?
This is a perfectly legal and potentially lucrative way of using your driveway or parking space to make money. People will pay a sensible daily rate for a guaranteed space close to a city or town center. If taking a flight, they will pay good money to have their car somewhere safe and close to the airport. Same with rail travelers. Check out this idea as it could become a source of decent regular income.
Become a freelancer
Businesses outsource work more than ever before. Freelancers can be writers, designers, computer programmers, app developers and social media managers, among others. What skills do you have that may appeal to a business?
There is a demand for bookkeepers and virtual assistants. Some businesses even outsource their customer care, engaging freelancers to answer emails and perhaps telephone inquiries.
This is a fast-growing area of commerce and tons of websites advertise freelance jobs. It’s worth having a look if you have skills that may appeal to businesses. It could even become your full-time job with all the perks of working from home.
Related: What I’ve Learned After Paying More Than $1 Million to Freelancers
Become an affiliate
Do you have a blog or a website with a decent following? Do you have a popular Instagram account? If so, why not look at affiliating with brands that are relevant to your subject? It’s a simple concept. You use your blog and social media accounts to promote a brand, and whenever any of your readers click through via the link you post on your accounts, you get a commission payment.
Affiliate marketing is fast becoming the way forward for many in commerce and industry, so get in now if you already have a popular online medium, or start one to build and become an affiliate.
These are just a few of the ways you can start making money from home. Dig in and see how you can boost your income.
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AFFILIATE MARKETING
Craigslist’s Founder Pledges $100 Million for Cybersecurity
Craig Newmark, the 71-year-old retired founder of Craigslist, has four focus areas for philanthropy: military families and vets, cybersecurity, journalism, and pigeon rescue.
On Wednesday, he pledged $100 million to support U.S. cybersecurity, bringing his total giving and pledges to $400 million since 2015.
Craig Newmark. Photo by John Lamparski/Getty Images
According to the Wall Street Journal, Newmark has already committed over 20% of the $100 million pledge to organizations and projects around cybersecurity. Common Sense Media, for example, received $2 million to support efforts like a cybersecurity awareness campaign for parents and teachers.
Newmark was worth $1.3 billion in 2020 and pledged to give away almost all his wealth to charitable causes in December 2022. He told the Journal that his giving was inspired by the Judaic concept of tikkun olam, Hebrew for “repairing the world.“
Newmark’s approach is to find the right people, give them the resources they need, “and then get outta their way,” according to his philanthropy’s website. He doesn’t give organizations who receive grants requirements to hit certain targets.
Newmark has yet to commit $88 million of his latest $100 million pledge. Applications are open through his foundation’s website where he personally vets the proposals.
Related: Warren Buffett Just Changed Up His Will and Locked Out the Bill & Melinda Gates Foundation
AFFILIATE MARKETING
23andMe Board Resigns: ‘Differences’ With CEO Anne Wojcicki
Days after proposing to settle a data breach lawsuit for $30 million, 18-year-old genetic testing company 23andMe now faces another public hurdle: Seven independent directors of its board resigned on Tuesday through a pointed letter addressed to CEO Anne Wojcicki, who is now the only remaining member of the board.
The resigning directors, among whom were YouTube CEO Neal Mohan and Sequoia VC Roelof Botha, called out Wojcicki for not submitting a “fully financed, fully diligenced, actionable proposal” to take the company private over the past five months. They wrote that their strategic direction for 23andMe was different from Wojcicki’s.
“Because of that difference and because of your concentrated voting power, we believe that it is in the best interests of the Company’s shareholders that we resign from the Board rather than have a protracted and distracting difference of view with you as to the direction of the Company,” they stated.
Related: 23andMe DNA Technology Helps Family Find Kidnapped Daughter After 51 Years
Wojcicki, who co-founded the company in 2006, controls 49% of 23andMe votes. In July, she submitted a proposal to buy all the shares she didn’t already own at $0.40 per share and take the company private. A special committee created by the company rejected her proposal, stating that it wasn’t in the best interests of shareholders.
Anne Wojcicki. Credit: Kyle Grillot/Bloomberg via Getty Images
Wojcicki told employees in a memo on Tuesday that she was “surprised and disappointed” by the resignations and would immediately begin finding replacement directors. She stated that “taking 23andMe private will be the best opportunity for long-term success.”
23andMe, which was valued at $6 billion in 2021 shortly after going public, is now a penny stock worth 34 cents per share at the time of writing. The company has until November 4 to bring its stock price up to at least $1 per share or risk being delisted.
23andMe has faced a number of public setbacks, including a data breach in October that impacted nearly 7 million accounts and appeared to target people with Chinese or Ashkenazi Jewish ancestry. Customers filed a class action lawsuit in January and 23andMe proposed a $30 million settlement earlier this month.
23andMe’s core product is a $99 ancestry kit that requires a customer to submit their spit in exchange for genetic insights. A $199 kit advertises health predisposition reports. The company is also developing drugs in-house and testing them.
Related: 23andMe Hackers Selling Stolen User Data, Including DNA Profiles of ‘Celebrities,’ on Dark Web
AFFILIATE MARKETING
How to Grow a Business: Yum! Brands Co-Founder David Novak
As the co-founder and former CEO of Yum! Brands, one of the world’s largest restaurant companies with a portfolio including franchises like KFC and Pizza Hut, David Novak drove tangible results.
In the 17 years he was CEO, from 1999 to 2016, Novak helped scale the company to eight times its original size, from a market capitalization of $4 billion to $32 billion. However, Novak credits the numbers to a more qualitative than quantitative aspect of leadership — creating the right work culture.
In a conversation with Masters of Scale host Jeff Berman that aired earlier this month, Novak explained how he steered Yum! Brands from the beginning.
“I made my number one priority to really create a powerful culture where everyone counts,” Novak said. “That became job number one for me as a CEO, because if I can create that right work environment, people will innovate and people will go further.”
Novak explained that early on, he tried to learn from companies that were winning or consistently delivered good results. He went out and visited companies including Walmart, Home Depot, and General Electric.
“We met with them,” Novak said. “Then we came back and we codified what’s really driving the success of these companies that allow them to get to great results year after year.”
Novak, who oversaw 1.5 million employees globally, began emphasizing recognition and encoding it into Yum!’s culture. In previous interviews, he talked about how he would use recognition to motivate employees. In one case, at KFC, Novak gave away rubber chickens and $100 as an award for a job well done.
Today, Yum!’s culture remains one of recognition and collaboration, per its public-facing culture page.
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