6 Ideas To Earn Money From Home - Entrepreneur

6 Ideas To Earn Money From Home - Entrepreneur


6 Ideas To Earn Money From Home - Entrepreneur

Posted: 24 Sep 2020 05:47 AM PDT

Step out of your comfort zones and explore different ways to earn money during COVID-19 pandemic

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3 min read

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Staying at home and witnessing incomes subside surely doesn't feel good, which is a reality during the current pandemic. While the traditional source of income may have diminished, there are a lot of other things that one can do to make some money staying at home.

Here are some avenues for making money online while staying at home. With an abundance of time on hands, one can try out one of the following to get started.

Teach online

If you are academically strong, you'd be surprised how many people would be keen to learn from you. Start tutoring online. You can begin with a small batch of students, maybe those that you are locally acquainted with, or perhaps advertise your service to get started with it.

Start a blog

This is the best time to get started with a niche blog. While it will take some time to grow, people are consuming content more than ever from their homes now. The blog can extend paid collaborations for linking, advertising and other ways to generate decent revenue.

Freelance

If you are a writer, coder, artist or one with any skills that you can relay online, freelancing is a great option. Just update your social media profiles, especially LinkedIn with what you are offering and look out for clients. Set your rates and earn money at your own terms.

Try affiliate marketing

If you are up for learning a few savvy skills of setting up an affiliate marketing gateway, you can earn some really good money. You can employ this either through blogs, a YouTube channel or any other site where you can use an affiliate link and make a portion for each purchase through your link.

Set up an e-store

If your business has suffered due to COVID-19, just take it online. Set up an e-store on Shopify or perhaps an independent one and list all your products. Market them on relevant sites and you can initiate sales in no time. If you already have a production line, this can help you earn a significant amount at home.

Initiate online consultations

If you are a professional such as a therapist, career counsellor or legal aid who gives consultations, start finding an online client base. Set up a fee, find clients and use your existing profession to make money from home.

Monetizing your skills online isn't as hard as you think it is. Just make sure to have an organized approach with whatever you choose to start and bring in local customers for your directed service. Anything you start will take some time to start running smoothly. So, get on the band wagon, have patience and put in the work to make decent bucks online. Start today!

Why Small Businesses Must Deal With Emerging Cybersecurity Threats - Entrepreneur

Posted: 02 Sep 2020 12:00 AM PDT

5 min read

Opinions expressed by Entrepreneur contributors are their own.

Companies worldwide have made work from home () arrangements for employees while still trying to focus on acquiring customers. While most have been able to keep running, there's a lurking crisis waiting to happen. Cybersecurity threats are becoming more dangerous as criminals take advantage of the crisis by monetizing stolen identities, installing viruses and malware and hijacking passwords and digital funds.

According to 's 2020 Cybersecurity Report, organizations that lead in implementing best practices are four times more effective in stopping attacks, three times better at fixing breaches and two times better at reducing a breach's impact. The authors say the most prepared companies do three things — invest for operational speed, drive value from investments and sustain what they have.

I spoke with Dr. Oren Eytan, former head of the IDF cybersecurity unit and CEO of Odix, to get his thoughts on how to improve online business security. And he cautioned that, "Hackers are constantly developing new and more complex malware variants to circumvent conventional security solutions."

Here are common threats you'll see, along with suggestions for protecting your business.

Longer passwords prevent ID theft

Nearly 40 million Americans have filed for unemployment benefits since March. Unfortunately, scammers in the U.S. and abroad are taking advantage of overwhelmed state unemployment systems. This year, hackers will use stolen identities to collect at least $26 billion in fraudulent payments, according to Congress's estimate. The Labor Department thinks that in a best-case scenario, 10 percent of unemployment payments will constitute waste and abuse. 

"In the age of social and mobile, your digital identity is your life," Dr. Eytan says, adding that as a result of the expansion of these outlets, "A long, easy-to-remember password is essential to securing one's online profile, financial accounts and preventing ID theft."

Consider combining keywords, phrases, names, dates and events that only you would know. For example, "briansdogbunny20" or "love20starbucks" or "proud77armyvet" are all easy to remember and extremely difficult for an unauthorized individual to guess. Other examples of longtail passwords are "feedmycat730pm" or "fianceweddingMay2021." You should also change passwords once or twice a year for extra security.

Related: It's Time to Stop It With the Terrible Passwords

Malware helps criminals stay quiet

Malware is a silent threat to and individuals. Malicious software can be programmed to partially control a computer or device. Last year, there were 9.9 million malware attacks, according to SonicWall's 2020 cybersecurity report. More than a third (37 percent) of newly detected malware hide in Microsoft Office and Adobe PDF files. Google's Transparency Report sheds some light on where malware originates. 

Although there are lots of products on the market to help fight against malware, Eytan warns they aren't all the same. "While antivirus and anti-malware solutions are commonplace among computer users, these solutions often fall short of addressing newer and ever-more complex malware strains," he says. "Polymorphic malware can automatically change their code in order to evade signature-based detection most antiviruses use."

Work-from-home employees may access company resources through unsecured devices and networks. Businesses should implement measures to protect their data while enabling workers to collaborate online. Nearly two-thirds (62 percent) of cybersecurity professionals believe their firm's cybersecurity team is understaffed, according to a 2020 report by Information Systems Audit and Control Association (ISACA).

In one particular case, hackers exploited the coronavirus crisis by renaming their malware "Coronavirus Finder," which supposedly detected nearby people infected with Covid-19. In reality, the criminals used the mobile app to gain access to people's bank card details and intercept text messages and two-factor authorization codes.

Related: 5 Best Practices for Remaining Malware-Free

Cryptojacking is an emerging threat

Cryptojacking has been on the rise ever since cryptocurrencies became more valuable. Cryptojacking is the unauthorized use of a computer, laptop, server or smartphone to mine cryptocurrencies and steal from users. Unfortunately, hackers also divert your hardware's capacity and electricity for their purposes. 

They typically entice victims to visit a fake website, install a virulent app and/or click a false link that secretly installs malicious code on your device. According to a 2018 report by Cyber Threat Alliance (CTA), in 2018 there was a "459 percent increase in illicit cryptocurrency mining  malware detections since 2017." Cryptos are a new asset class that even Wall Street investors find valuable, so cybercriminals are incentivized to steal digital funds.

The pandemic should make companies and individuals vigilant of online scams. The hardest-hit state for fraudulent jobless claims is Washington state. So far this year, the state has lost $650 million in benefits to criminals (although officials said they've recouped $350 million). The huge loss comes from 200,000 claimants being red-flagged, although many are innocent people whose lives have been turned upside down thanks to fraudsters triggering slow investigations from state bureaucracies.

Consumers should delete unnecessary apps, browsers and software to prevent malicious code from operating in the background. You should only visit credible websites. As a sidenote, adult sites are notorious carriers of malware and viruses. Scams and cyberattacks are proliferating worldwide. By following safe IT practices, you can protect your personal and business assets from being stolen.

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Entrepreneurship and owning your own business - Royal Gazette

Posted: 26 Sep 2020 04:10 AM PDT

Almost everyone it seems at one time or another has wanted to control his or her destiny. Generally, that means choosing a lifestyle that suits you, choosing where to live, what to own, when to work and with whom, and reasons why it all makes sense to be the boss of yourself.

When you are the boss, nothing is preconditioned with having someone else tell you what to do, when to do it, how much you are going to earn, and even during tough times, you are the only one that decides if your job is still viable. Everyone likes to see success for all self-employed entrepreneurs, because the subtle message is that "if they can accomplish this goal, so can you!"

Ownership means empowerment. When you are the boss of you, having a job that you like and that can reward you, and with almost infinite business choices, it sounds absolutely wonderful. How could it not?

Your ideas, your products or services, your working hours, you are in ultimate control.

In every economy, the words innovation and entrepreneurship are often advocated by politicians, particularly, with even our own Premier offering financial encouragement to local start-ups. It's good mantra.

Just perusing major media at our nearest North Atlantic pond neighbours, political parties and leaders of all persuasions evoke the qualities of entrepreneurs and their contributions to economies. They tout accomplishments and successes, as if their particular party was the innovator, but truth is — small businesses are the life blood of every economy.

It takes a special individual to want to control their own future.

Neil Patel, the brilliant author of 30 Ways to Become a More Successful Entrepreneur, is the co-founder of NP Digital and Subscribers.

The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. Neil is a New York Times bestselling author and was recognised as a top 100 entrepreneur under the age of 30 by President Obama and a top 100 entrepreneur under the age of 35 by the United Nations.

I've paraphrased some of his ideas here and encourage you if you are thinking of "making it on your own" to have a good read.

1, Gritty is perseverance

2, Challenge yourself

3, Be passionate. If you don't love what you do, don't do it

4, Take risks, but know which are worth taking — and their outcome

5, Trust yourself. You must believe and have confidence in yourself

6, Reduce fear

7, Visualise goals and achieving success

8, Hire great partners, this comes with a real caveat

9, Act. Successful entrepreneurs act, not talk.

10, Spend time. Put in the time to reach success. 25 per cent of start-ups fail in the first year. Thirty-five per cent of those remaining will fail in the second year. Forty-four per cent of the remaining 40 per cent after two years will fail in the third year — don't be one of them. Cashflow is critical among other items, to be discussed next week.

11, Plan your finances

12, Know who is your customer

13, Listen to complaints

14, Exceed expectations

15, Manage risks

16, Read case studies

17, Self promote

18, Set a company culture

19, Network, network, network

20, Learn and create

21, Deliver, don't sell

22, Baby steps

23, Put everything on your calendar

24, Exercise. What a surprise — if you don't know, you should. Exercise is a great brain enhancer and stress reliever.

25, Focus

26, Take time off

27, Ask

28, Fail. Know the worst case scenario and plan for it.

29, Get inspired

30, Help others. When you help someone, they will likely find a way to help you. Helping others is also a great way to build a loyal and supportive network around you.

Successful entrepreneurs help the people they meet.

I know of what I write, having counselled many clients in my professional practices, both in Bermuda and the United States.

I absorbed lessons many years ago from my father who owned a tiny sewing machine repairs and sales business on Wesley Street in Bermuda. He worked incessantly, sometimes fruitlessly, to keep larger competition from heavily discounting to erode his customer base. Every person who came to his shop was valued; no one was ever turned away, he built valued relationships going the extra mile for every, single customer. He offered terms and payment plans before many competitors, along with lots of business and religious advice as well.

The stress of being the single breadwinner in the family during tough times was seriously detrimental to his health; he worried constantly about cash flows; he was always tired, uncommunicative, and had little leisure time to relax and enjoy life.

So, under today's enchanting guidelines, was he a successful entrepreneur? Yes, for his time. I had tremendous respect for his work ethic, but readers, that was not enough even given his large loyal customer base.

Consumer tastes changed. Family dynamics changed, both mom and pops were working outside the home. Everyone wanted store-bought clothing and other goodies, plus items were now China mass-produced and cheap. No one wanted to take valuable time home-sewing. Our dad would not have been able to stave off handmade obsolescence, but in any event, fortunately, he had retired.

A word of caution, and no reflection on Mr Patel, but there are many more items to plan for in order to bring a fully integrated business into successful operation.

We will focus on those next week. Now readers, you know I was going to do that because there are four important things that also drive a new business, and of course, necessary financial assessments.

• Cashflow

• Traffic flow

• Consumer trends and obsolescence

• Burnout

LINK:

• Neil Patel: https://neilpatel.com/blog/become-successful-entrepreneur/

Martha Harris Myron, CPA JSM, a native Bermudian, is creator of Pondstraddler Life Financial Perspectives, international financial consultant to the Olderhood Group Ltd Bermuda, and financial columnist to The Royal Gazette, Bermuda. All proceeds from these articles are donated by The Royal Gazette to the Salvation Army, Bermuda.

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