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If you are tired of working for someone else or you simply don’t like the idea of getting stuck in a 9 to 5 job, is it possible to make money without getting a job?
It’s definitely possible because many people (including me) have done it.
To make money without getting a job, one of the best ways is to start your own business.
So, what are some legitimate low-cost and low-risk money-making opportunities for people who don’t want to get a job?
How I Make A Living Without Getting A Job
I used to be in the same situation, so I can understand how you feel right now.
A few years ago, my husband and I suddenly lost our jobs because the company we both worked for closed down unexpectedly.
After becoming jobless overnight, I had to think fast and find ways to earn money to help cover our living expenses.
After some research, I found out that the fastest way to make money without getting a job was to sell services.
And I call this business Service Arbitrage.
So here’s how it works.
First, you find in-demand services that freelancers are already offering at a super low price on freelancing websites such as Fiverr or Upwork.
Then, you market their services to businesses that need it.
Once you get a paying client, you outsource the work to the freelancers who are already looking for work on the freelancing websites.
How you make money is that you quote a higher price to your clients than what your freelancers quote you and pocket the price difference as your profit.
This can be considered another variant of freelancing.
The only difference is that you are outsourcing the work to other freelancers instead of doing the work yourself.
When I first got start and was deciding what services to sell, “What service can I sell?” was the first question that comes to my mind.
Many people seem to think that you will only succeed in your business if you can come up with an idea that no one has ever thought of before.
But that couldn’t be further from the truth.
Actually, the key to starting a profitable service business is simply identifying a service niche that is already in demand.
And when I was choosing my service niche back then, I had my doubts too.
I kept wondering, “Why would anyone want to buy from me when there are already people offering the same service?”
If there are already people who are offering similar services, that is actually good news.
That means there is a market for this type of service.
And it is not a bad thing that you have competition.
If you are smarter than them, provide a better service than them or market better than them or work harder than them, you can make more money than them.
But, most people didn’t realize that this mindset is EXACTLY what is stopping them from taking action to start a business.
They’ve killed their idea even before testing and validating it.
So, it’s really up to you to decide.
You either talk yourself out of doing anything out of your comfort zone and stay stuck where you are right now.
Or you can start taking small steps and at least give yourself the chance to get to where you want to be.
If you are wondering whether you can start a service arbitrage business yourself, here are the answers to the most frequently asked questions.
Question #1: Do you need any capital to get started?
I started my service arbitrage business with zero investment.
Question #2: Do you need to have any experience or any specific knowledge?
When I first got started, I had no business experience, no sales experience, and no industry knowledge about the niche I chose for my service arbitrage business.
But, this DOESN’T mean that you don’t have to put in hard work because it’s not a get-rich-quick scheme.
I got my very first paying client within 3 days.
That was the easiest money I’ve ever made without doing anything.
As I slowly built my client base, my revenue became more and more consistent and I crossed my first $1,000/month in less than 3 months.
Question #3: How long does it take to get the business up and running and start making money?
Your results are completely dependent on personal effort and work ethics. But, if you are willing to put in the work and follow the strategy, you should be able to see results in no time.
Here is the link to sign up for my free Service Arbitrage email course.
Service Arbitrage Case Study: How I Made $1,000/Month With No Experience
Of course, there are many other ways that you can earn an income without getting a job.
But, if you want to make a full-time income without working for someone else, then here’s my No. 1 recommendation.
Start A Knowledge Business
What is a knowledge business?
A knowledge business is a business where you turn your knowledge and expertise into a product ( e.g. ebook or online courses) or a service (e.g. coaching or consulting) and sell it to other people.
Why do I recommend this type of business?
Reason #1: It’s very easy to get started.
And it requires very low or even zero capital to start, so you don’t have to worry about risking your money in your new business.
Reason #2: It’s a highly scalable business model.
That means the income potential can be very high.
That’s exactly the same reason why movie stars and singers can make a lot of money.
When they star in a movie, that movie can be watched by millions of people around the world.
When they host a concert, the concert can be enjoyed by thousands of people and more at one time.
Reason #3: It’s ultra-low-cost and high-profit margin.
Why is it ultra-low cost and high-profit margin?
This is because you are selling your knowledge and expertise which is zero cost to you.
For example, when you turn your knowledge into a coaching service, your cost is simply your time.
If you turn your knowledge and expertise into an online course, your cost might include a graphic design fee if you want to hire a professional designer to help you make your course aesthetically more appealing.
Of course, there are very few course creators who hire professional videographers to help make training videos but that’s not necessary if you are just starting out.
Okay, if it’s so good to start a knowledge business, why aren’t many people selling their knowledge and expertise online?
The truth is there are already people in the knowledge business space.
If you go to Udemy or any other online education platform, you will see many people selling their online courses.
Or if you go to Amazon or any other online bookstore, you will see many people selling their books.
Or if you go to websites such as Clarity.fm or RelationshipHero.com, you will see many people selling their advice online.
But, there are still a lot of people who are NOT taking the leap.
Why is this so?
They have what we call “Imposter Syndrome”.
According to Wikipedia, Impostor syndrome is a psychological pattern in which one doubts one’s accomplishments and has a persistent internalized fear of being exposed as a “fraud”.
In simpler terms, they think they are not good enough and they are afraid that they will be seen as a fraud if they sell their knowledge and expertise.
First of all, I want to say that this is a normal feeling.
Even some of the most successful people in the world suffer from imposter syndrome.
So, you are not alone.
Secondly, I want to let you know that if you are feeling this way, it says that you really care about other people because you want to be the BEST to feel qualified to help other people with your knowledge.
I applaud you for that.
But, the truth is that you don’t have to be the ABSOLUTE BEST to start helping other people and letting other people benefit from what you know.
For example, there are so many heart doctors in the world.
If you want to name the BEST heart doctor, there could only be ONE.
Does that mean all the other heart doctors should quit their job and stop helping their patients with their medical knowledge?
Now, you might say, ” Gladice, this is not a perfect example. All the doctors have to pass medical exams and get a medical degree before they can practice medicine. They won’t experience the imposter syndrome because they are CERTIFIED to help other people with their knowledge.”
Yes, having a certification will instantly remove the fear of being exposed a ” fraud”.
But, are credentials and certifications really essential?
I don’t think so.
Tony Robbins didn’t have any certifications when he first started helping people.
Now, he is one of the most well-known life coaches in the world and has helped millions of people around the world with his knowledge.
Mark Zuckerberg and Steve Jobs both didn’t finish college but went on to start wildly successful companies and impact the lives of people all over the world.
Maybe you don’t really feel related to their stories.
What about this ordinary Korean American housewife, Emily Kim?
Out of her passion for Korean cooking, she started to post videos of her cooking Korean food on her YouTube Channel.
By the way, she is NOT a professional chef.
And she does NOT have any culinary degree.
She was working as a teacher when she started producing cooking videos on Korean food.
As her YouTube channel grew more and more popular, she even published a cookbook!
She is proof that you DON’T need to get certified by other people to start using your knowledge to help people around you.
As long as you know more than the people you want to help, that is good enough.
I want to give you another example.
Back when I was still in college, I was giving Maths tuition to high school kids.
Did I have any certification for Maths tuition?
But, did I know much more about high school Maths than the kids whom I am helping?
That’s good enough for me to feel confident that I can help them with their Maths.
Fast forward to today, I am selling my knowledge again.
As you probably know that I started my service arbitrage business a few years ago and grew it to a consistent monthly income, now I’ve turned my knowledge about service arbitrage business into information products such as online course and coaching programs.
Above is the screenshot of my online course called “Service Arbitrage Pro”.
After I have successfully launched my online course, I now have the knowledge and experience in creating and launching online courses.
Although I am not the most experienced or the highest-earning course creator, can I help complete beginners who want to create and sell their very first online course?
Yes, I can because I have done it from scratch and I have got results.
So, now my question for you is, “What knowledge do you have that you can turn into a product or service to help other people get the results they want?”
Remember that you don’t have to be the BEST to start helping other people with your knowledge.
A Beginner’s Guide: How To Make Money Selling Online Courses
There are many ways to make money without getting a real job. Starting your own knowledge business is one of the best ways to earn a full-time income working for yourself.
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