While for Most of Humanity the Pandemic Was a Curse From Hell. but for Some It Was Gold.
There is no denying that the Covid-19 Pandemic has shaken up life as we knew it. It’s been a year of sink or swim if you want to avoid bankruptcy, and sadly there aren’t enough life rafts for everything. However, it hasn’t been all doom and gloom for all industries, in fact some new innovations have created new employment for many.
Humans by nature have a resilient and adaptable spirit, so if you need some inspiration, here are 15 ways that people have made money in the pandemic.
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Guess which shark got a big piece of the meat during this chaotic feast? It’s YouTube. And we are contributing. Here’s the video version of this article:
With that checked off, let’s dive right into the article and learn about the first business model.
Started a Resale Business
Reduce, reuse and recycle are buzz words of our generation, but some people have turned a profit doing the 3 R’s during the pandemic. While the world was feverishly de-cluttering during lockdown, others were buying up their second-hand goods on Craigslist or Gumtree. Then they just fixed them, cleaned them and flipped them for a tidy profit on sites like E-Bay.
People Started to Monetize Their Hobbies
Mass lay-offs and reduced time was inevitable, but not everyone saw this as the end of the line. For many it was the push they needed to turn their hobby into a money maker.
They opted to go with the flow that the universe had sent them on and see the end of the regular work routine as a blessing in disguise, the start of something new.
Many turned their passions into cake making businesses, carpentry companies, drone flyers even took to the skies offering their skills to real estate agents and architects who needed aerial photographs.
The sky is literally the limit when you love what you are doing and need some income.
Part-Time Drivers Are in High Demand
Depending on what country you are in you could have had a very different experience to lockdown life. Countries like Italy and South Africa literally confined you to your own home for weeks on end. No public exercise, no gatherings, no eating out, no alcohol sales… nothing. It was puzzles and home-brewed pineapple beer for you.
Enter the solution, delivery services for EVERYTHING! From online shopping and take-out delivery, to on-demand Covid Tests to your door; the demand for part time delivery drivers went through the roof.
This at least gave people who lost their jobs but still had a vehicle an alternative income source during this strange time, plus they’re providing a service that keeps people home and safe.
Teaching Skills Online
Seeing as most of us were home and had extra time, it was a great time to brush up our skills or learn something new. This created a whole new market for online teaching. Even if dance instructors couldn’t offer lessons in person, they could expand their reach by teaching online to anyone in the world.
Same goes for Cooking Classes, Calligraphy or fitness training, there are no limits to what you can teach online. Meditation is another important skill that many people desperately needed due to the stress of the pandemic, so we at Alux were able to offer our course on Mind Mastery to our followers.
Peer to Peer Lending
Since 2005 Peer to Peer lending has grown by 110% each year. So, what is this phenomenon and how are people getting in on it during the Pandemic?
Well peer to peer lending, or P2P, is crowd lending or social lending, where groups or individuals lend other groups or individuals’ money. It’s different from a financial institution because its open to anyone to lend their money and earn interest on it.
There are a ton of websites, each have different loan rates and amounts, clientele and what they are using the money for, and what makes lenders eligible. You’re probably thinking that this is totally risky, but it doesn’t carry a lot more risk than buying shares with a big company.
Generally these arrangements earn you 5% interest on a less risky investment, and up to 11.25% on a riskier one. So, during lockdown it is a great way to make any money you have work extra hard. You get to choose who you lend to, and you are part of their success story by backing them and their business. It’s a great initiative, and it’s all about empowering business people, so we at Alux are all in favour.
We spoke about this unusual way to make money in our video – 10 Ways to Make Money Work For You.
Asset Shopping Has Taken Off
Investment advisors will tell you that in the greatest crisis is incredible opportunity to grow your wealth, and the Covid pandemic is not different. In most countries people are losing their businesses, investment properties and homes and are forced to put them on the market.
But for those who have a little nest egg to spare, it has been a time to pick up new assets. It really is a buyers’ market as there are an excess of homes on the market, and a small group of people able to shop around for them. On top of that, interest rates are driven right down, which also makes lending more affordable and a good way to bolster your asset portfolio for the future.
Virtual Medical/Psychology Consultations
Most people are avoiding any medical facility like the plague, because well…there is literally a plague around. So, there has never been a better time for online medical consultations.
Virtual consultations in most fields are popular, but with so many people taking mental strain, and many of us having physical stress symptoms too, it’s time for online doctors to shine.
The best part is that it also protects the medical professionals, especially those with underlying conditions like diabetes. Online they don’t put themselves at risk of exposure to Covid and can still offer the support we need.
E-Commerce Is a Highly Favoured Option
Turning your extra time into a passive income option is certainly most peoples dream, but the pandemic pushed more people to embrace the E-store.
In the world of E-Commerce you can sell sandals from the Philippines without ever having stepped foot on her shores. Or you could snap some great pictures upload them to a Stock Images website and start earning royalties from them within hours without any history in photography.
This is exactly what many people started doing during the pandemic. With more people spending more time off the streets and in front of screens, it became a hot pastime to mooch around online malls and ogle Instagram accounts that push you to online stores and purchases.
Software, apps, personal services or products – there are so many ways to jump into the sales funnel which is the World Wide Web.
E-commerce has been simplified to an extent that even if you’re a teen you can run an estore smoothly. But if that’s not your thing, here are 15 Ways Teenagers Can Make Money.
By now we’ve all got pretty used to the idea that big stadium concerts are on hold for the indefinite future. But that doesn’t mean that you have to forego seeing the biggest stars in concert. Sure you won’t have the joy of overpriced beer being spilled on you as you are jostled through the crowd with your feet off the ground. But you get 9 camera angles in HD to enjoy the show, and you don’t even have to put on make-up or pay Uber surge rates.
Live streaming isn’t just reserved for performance art though. Small businesses have also ridden out the storm with virtual sales. Tucked away on the main street of Crown Point, Indiana, a city with a population of just 23 thousand is Moriarty Gem Art. You wouldn’t think these would be virtual ballers, but as early as 2019 they had already tabled the idea to live stream a Gem show in their mostly family staff meetings. Until Covid lockdown they just hadn’t had time to get it off the ground.
Due to the lockdown they had to shut up shop in March. So they had no choice but to live-stream. On July 8th their live stream show raised $12,000 in sales. While another show ended in the sale of a Tanzanite store to a customer in Singapore at a value of $20,000.
Moriarty Gem Art proves that there are many ways to cut a diamond.
Podcasts Have Taken Off
Now is the second coming of the success of the pod-cast. If we thought all ears were on podcasts when Serial was released, Covid has made podcasts a daily part of everyone’s diet. When you can’t possibly watch another video, but you’re just too darn lonely to wash the dishes without a narrative, the podcast is salve of the soul.
Start-ups have leveraged the popularity of the podcast to bring new customers on-board through a broader audience. Advertisers are also flocking to the medium to peddle their wares of easy to install home security, online linen and monthly tooth care subscriptions.
Online Tutoring Took Off
One of the greatest fears after actually contracting the virus has been how to educate and entertain children during this new normal. Enter the “Zutor”, when your kids are flunking out and swinging from the chandeliers, a qualified educator can offer distance learning through Zoom.
These Zoom Tutors were the brainchild of Elyssa Katz who branded her company The Zutor Concierge and helped match families and educators. And voila, less conflict trying to get your kids to learn, and a little time to get some work done or take a shower while they take online classes.
Undertakers and Funeral Services
Sadly one of the main fall outs of Covid has been an increase in mortality rates in many places. This unexpected influx has meant that Funeral Homes and undertakers have had their work cut out for them. This has also led to an increase in all supporting services like floristry and care packages.
Drive-in Cinema Experiences Became Popular Again
Any entertainment that can take you out the house without bringing you in close proximity to others has been sure fire wins during the pandemic. One of those is the unexpected return of the Drive-In. This time the biggest draw card isn’t the old timey appeal but rather the absence of life-threatening virus exposure that it offers.
And globally, couples, friends and families are flocking to the drive in in droves just for an opportunity to get out of the house and escape the ‘same-ness’ of living in lockdown.
Anybody Going Into the Sanitizing
Who knew that the biggest fragrance of 2020 would be 70% alcohol spray! Anyone in the sanitizer game or offering services to clean and sanitize the built environment is in the pound seat now.
It is a wonder hand sanitizer companies managed to keep up with the demand. It has gone from something more commonly used by medical care workers to a product sprayed on all of us consistently all day long.
Now the alcohol alternative sanitizers are having a heyday as we all suffer the struggles of dry hands and chapped skin from overuse of the liquor laced stuff. Anything that is gentler on the hands is still untapped in many countries, and a good business to go into.
Farmers Are Doing Well, but It’s Bittersweet
One thing we haven’t stopped doing during the pandemic is eating! We have all fought the virus but certainly not many of us fought the bulge. One of the upsides of all this is that many of us have had the time to cook from scratch, prepare healthier meals and boost our immune systems a bit.
This has had a knock-on effect for the farmers supplying all the produce we have been consuming while locked at home.
For most of the farmers, the success is bittersweet as they look around at so many companies battling and closing.
And as the famous saying goes, “this too shall pass.”
Aluxers, what businesses have you seen flourish during the pandemic? We value your input in the comments section.
We appreciate you sticking with us, so we’ve compiled a few suggestions that you could try if you’re needing to make a bit extra. These can all be done from… the words we’ve grown used to… the comfort of your own home.
- Become an Audiobook Narrator
- Become an Audiobook Narrator
- Type movie subtitles
- Become a copywriter
- Manage a social media account
Stay strong Aluxers, we’re all in this together. Don’t forget to subscribe for more inspirational videos and we appreciate your thumbs up.