Tips on boosting your streams of income from home

Tips on boosting your streams of income from home

May 21, 2020

6 mins

Augustine Ogwo

Augustine Ogwo

On Saturday, 16th of May 2020, Eyowo hosted the second part of our Surviving COVID-19 webinar series. The theme for the day was How To Increase Your Streams Of Income From Home.

On Saturday, 16th of May 2020, Eyowo hosted the second part of our Surviving COVID-19 webinar series. The theme for the day was How To Increase Your Streams Of Income From Home.

On Saturday, 16th of May 2020, Eyowo hosted the second part of our Surviving COVID-19 webinar series. The theme for the day was How To Increase Your Streams Of Income From Home.

Our resource persons were Freelance Specialist, Gbenga Adebiyi, and Financial Advisor, Adewale Osideinde. They shared some invaluable information with everyone in attendance.

They spoke about emerging trends, remote work, and freelancing. We also got to learn about self-upskilling and how to plug into freelancing opportunities.

In this blog post, we will be sharing some of the key lessons learnt with you:

Are you buying or selling on the internet?

What do you do on the internet? Do you provide content or services, do you consume content and services or do you do both?

According to Gbenga, while there are 97% of people consuming content and services provided on the internet, only 3% are producing and creating content.

While speaking, Adewale made it clear how the internet has become an important tool in the democratization of wealth.

Armed with this knowledge, we now know the immense opportunities for content creators and online service providers.

Wondering what to sell or offer on the internet?

Some of the opportunities identified online include selling products and services or even your knowledge and skill set.

“When it comes to wealth, our problems are not our enemies. Today, we all have equal opportunities to make things happen for us and to grow wealth. We need to begin to act, that’s where the magic happens,” Adewale noted.

Selling products and services online can be achieved through ECommerce, affiliate marketing, consulting, or even freelancing.

How can one use his knowledge or skills to make extra income during and post COVID-19?

The times we live in have forced more organizations and their employees to work remotely.

For full-time freelancers, remote-work has typically been the norm for them. For those experiencing remote-work for the first time, this window opens them up to the idea, and opportunities abound in remote-work and freelancing.

But, what’s really remote-work?

According to Gbenga, remote-work is basically working from home, doing mobile work, or working from a flexible workspace. He went further to explain it as a “work arrangement in which employees do not commute or travel to a central workplace such as an office or building”.

And who is a freelancer?

Gbenga still went on to define a freelancer as an independent contractor or self-employed person who doesn’t have to commit to a single, long-term employer. According to him, freelancers work independently for different companies or clients.

However, one can choose to either be a full-time freelancer or a part-time freelancer who combines freelancing with a 9-5 job.

What skills does one need to succeed as a freelancer?

To successfully take on freelance jobs, it is important to first identify your skillset. Identified skills will guide you on what sort of jobs to look out for and take on.

Gbenga also stated how important it is to decipher if your skills are high-income skills or not.

High-income skills are valuable skills in a specialized niche which ensures you are well paid. Basically, these are skills that have the highest value in the job market.

Some of the high-income skills he identified include content marketing, programming, and coding, data science, software development, video editing, graphics design, and database management.

Why is specialization important?

Gbenga encourages specialization as it increases the value of your skills in the market.

He gave an example of being referred to as a “writer” as a generalized skill. Meanwhile, being known as a “resume writer” as a specialized skill.

What if I need to learn a skill or improve an existing skill?

There are various platforms where you can learn new skills and also improve on existing ones; Coursera, Classpert, and EDX were some of the examples shared.

While some courses on these platforms are free, others cost just a token.

How can one become a successful freelancer?

The question about how to become a successful freelancer is one that is often put on the table.

Gbenga shared some tips which can help ensure success for all freelancers:

  1. You have got to be skilled

According to him, the importance of being skilled as a freelancer can’t be overstated.

  1. You need a mentor

Someone who will put you through is a priceless asset in the world of freelancing.

  1. You need to understand the freelancing platform

You need to understand the platform you are using to convert your skill to income.

Whether you are using Upwork, Fiverr, or any other platform, it is important to understand the platform you choose to use and how it works.

  1. You need to master the freelancing platform

According to Gbenga, here are three things you must figure out on any freelancing platform you choose:

Profiling: This refers to how you present yourself to potential clients on the platform. If this is well figured out, you become more attractive to clients and recruiters.

Searching for jobs: This refers to how one can search for and land at the right job opportunities on these platforms.

Proposals: This refers to how you can write proposals and reach out to potential clients for openings and opportunities on these platforms.

Identify profitable opportunities.

There are skills and there are high-income skills. It is important for a freelancer to be able to identify the best-paying opportunities commensurate to work done.

Which freelance websites can one check out?

There are so many online marketplaces where one can offer freelance services.

Well, here are some of the popular and not-so-popular ones to check out: Upwork, Fiverr, Freelancer, Toptal, Angellist, WeWorkRemotely, FlexJobs, RemoteOK, and Remotive.

How do I get started as a freelancer?

To start earning shortly as a freelancer, here are some immediate action points.

  • Learn a new skill or update existing skills

You can learn a new skill or update existing ones by taking advantage of the opportunities presented by Massive Open Online Courses (MOOCs) from platforms like Coursera and EDX.

  • Select a freelancing platform

Read up freelancing platforms and then choose the one that works best for you.

  • Learn everything about the platform

Once you have chosen your preferred platform, learn everything about the platform.

You can take advantage of the blog section on these platforms to find out how best to take advantage of such platforms.

  • Start earning

Now that you know how your preferred platform works, you can create your profile, search for jobs, and reach out to prospective clients.

You can now start earning. Welcome to the world of freelancing 😊.

Looking forward to our next webinar? Follow us across our social media channels and we will definitely keep you updated.

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