Making money without investing money

They say that money breeds money. That may well be the case – If you have money to invest, you can certainly find simple ways to make a profit. However, if you don’t have access to a pile of spare cash, do not despair. There are still plenty of methods for you to make money. In fact, if you have energy and time, then this can prove to be a more lucrative investment than cash in the quest to make money. Although this is by no means an exhaustive list, here are some great ideas:

• Social media marketing

It is no surprise that social media can be a money maker. More than half a million items are shared on Facebook each minute and there are numerous opportunities to interact on Twitter, Instagram, etc. How can you monetize this relentless activity? It can be as easy as setting up a Facebook page, Twitter account or Pinterest board dedicated to a specific issue or product. You will need to invest time in building a following, but once this reaches critical mass, then you can direct traffic towards further information and ultimately sales.

• Teach online

The Internet revolution has brought with it so many more opportunities to make money, quite often by globalising previously localised services. Teaching is a great example of this. In order to teach, you don’t need to actually attend a classroom or lecture theatre anymore. Due to the wonders of Skype and other communication platforms, you can teach wherever you happen to have an Internet connection. You can also make resources available online to help your students. Of course, you still need excellent teaching skills, but in essence whatever your subject, there is probably someone willing to pay in order to learn.

• Mystery shopper

So not all money-making schemes are reserved for the online world. If you like shopping or indeed eating in cafes and restaurants, then incredibly you can get paid for your time. Market research companies are always looking out for mystery shoppers, who are given the task of purchasing an item in a specific store or eating in a particular outlet and then reporting back on their experience. Typically, mystery shoppers are paid $12-$25 per task, but will also receive free perks such as items purchased, meals, etc. Beware though of Internet mystery shopper scams (there is also a downside to the online revolution). No genuine service will ask for a registration fee.

• Rent our space

This is almost so obvious that it is in danger of being overlooked. If you have spare space, then why not use it? If you have a spare room, then you can probably find yourself a tenant. Remember though that you will need to draw up a solid contract first. If you are looking for something less permanent, then platforms such as the popular Airbnb allow you to rent your spare accommodation on a short-term basis to tourists and visitors. You should also think more widely abo   ut monetizing your space. Perhaps you have a spare parking spot or an area which could be used as a studio or workshop. Just remember, space is valuable, so make the most of it.

• Online surveys

Believe it or not, there are plenty of people who want to know what you think! Companies launching a new product, public officials testing policies and organizations looking for a slogan are just some examples of how online surveys are used. And so long as you give an honest opinion, you can be paid for your thoughts. Some online surveys are just a series of questions which take little time to complete. Other models include online focus groups which require more of a group interaction.