The decades-old 9-to-5 jobs are no more the most lucrative career path for millennial professionals. They want better and don't mind working hard for it. They have creative capacity, can work their nights off, and will go ALL in to make some extra bucks and learn new skills.
As college degrees get more expensive, millennials would rather use their time trying hands on different things instead of going down the traditional route of education followed by a job. Aspirations for career paths have changed, and executive, engineering, or managerial positions don't lure professionals today, as much as they did once.
Employed professionals too see a need to earn extra bucks by taking up alternate career paths. The bottom line- you have many options to make some extra money.
While not all alternate career choices lead you to the dream 6-figure income, we have a few that definitely can. Hustle on the side or drop your 9-to-5 to pursue these attractive alternate careers full-time.
Lucrative Alternate Career Options
Quit living paycheck-to-paycheck and touch that 6-figure mark.
Become one of these five-
Freelancing has become one of the most alluring career prospects for people who dislike the corporate culture and enjoy their independence. By 2020, studies have hinted that over 40 percent of the American workforce would comprise freelancers. Plan your holidays when most people won't, work flexible hours, and gain diversified exposure working with multiple companies. Those are only a few of the glittery benefits of freelancing.
You may be a graphic designer, project manager, mobile app developer, web designer, or a professional with any other skill, for that matter. You can always take projects on the side and earn a decent amount of income.
If you want to go all in, begin freelancing on the side at first. When you see a potential for growth and financial freedom, drop the job. Freelance as a software developer, for instance, if you know core technologies that are in huge demand. If you are good at what you do, competent enough to take projects and handle them single-handedly, freelancing is the ideal alternate career path for you.
Businesses all around the world are riding the gig economy and prefer working with freelancers when they don't want to shell out for a permanent employee.
Earn decent money on the side by creating and selling courses on Udemy and other platforms. Projected to be a $243 billion market by 2022, the e-learning industry is booming beyond imagination.
Dip hands into this stream by teaching what you already practice at your job through an online course. If you have experience and expertise in a particular area, you can make a six-figure income with a one-time effort putting together an online course.
All you need is a decent video camera and some editing skills. No matter what your expertise is, there is a market you can teach it to. Leverage what you know and make extra bucks with little effort at first, and no efforts after your course takes off.
If you are starting fresh and having a hard time figuring what you can teach, ask yourself, “What do I do fairly well?”. If you are employed and want to offer online courses for some extra income, ask yourself, “What skills am I already being paid for?” and “Who might need to learn them?”.
Once you answer those two questions, get started. Create videos on the social and polish your speaking skills over time.
Another way of using what you already know and do to earn well is to run a blog. Blogging perceivably takes efforts. Not much if you only blog about what you already practice every day. Video blogs and traditional blogs are both great ways of adding extra zeros to your account.
Recount experiences from your industry, write about trends you see coming, teach skills, and share knowledge on your blog. When people start following you and engaging with your content, look for ways to monetize your blog. You could sell them consultancy services, online courses, or advertise on your blog.
Making six figures blogging may seem like that distant dream we often hear about. But consistent content creation can make it happen for you. Bloggers become influencers and then charge businesses to talk about their services on their blog.
This is your sure-shot way to becoming an influencer. A host of other options open up in front of you when you reach a certain level. You could secure speaking engagements, sponsor other businesses on your blog, and earn through affiliate marketing, which takes us to...
As an affiliate marketer, you don't have to sell products or services that are your own. You could if you wanted to, but you don't have to. If you don't want to deal with inventory, dealers, suppliers, payment processing, manufacturers, and a lot of other people, affiliate marketing may be the career option for you.
By partnering with an e-commerce store such as Amazon and becoming an affiliate marketer with them, you can earn money selling products that are not your own but appeal to you. Target audiences and classify products so you get to persuade a specific market segment at a time.
Affiliate marketers often run multiple websites focused on particular product segments they like to sell. Then, they offer value to their visitors through blogging, earn credibility and visibility through SEO, and sell stuff to make money.
Something else that may attract you to affiliate marketing is the fact that it can help you earn passive income. You earn while you sleep.
Allow someone else to handle inventory and shipping for you, while you collect profits. A lot of professionals today drop ship to earn income on the side. Get your store up and running on Shopify, upload product images, begin marketing through Facebook Ads, and when you get orders, relay them to an e-commerce company such as Amazon to ship directly to your buyer.
Initially, you can place orders yourself, and when the demand increases, hire a personal assistant. Focus on email marketing, and you have a side hustle that could lead your way to the six-figure $$ mark.
Start with the famous free plus shipping model and when you have an influx of orders and buyers' email addresses, reach out to them with “special offers” to make a real profit. That's one strategy to help you earn significantly with drop shipping.
Tired of waiting for your next paycheck?
Turn that around. No matter what alternate career you pick, we are rooting for you!