Relearning the use of technology for better
In the era of digitization, earning money at home is relatively easy, but the question of which opportunity and enterprise to opt for is still a matter of concern in a country like Pakistan, where inflation and devaluation of the Rupee are at their peak, for an individual to manage their household. People in Pakistan are predominantly involved in corporate jobs, but a culture of independent businesses, particularly through online platforms, is on the rise to earn more money in addition to a fulltime job. However, the trend is a bit slow. The question then arises as to why Pakistanis are reluctant to take the plunge into the world of entrepreneurship. There are so many inspiring and famous stories in Pakistan of individuals, who work independently and are their own bosses, but there are also innovative businesses that couldn’t sustain themselves, such as JOVI, Uber, and Poocho.co, Savaree, etc. – startups that just vanished. There is a plethora of reasons as to what caused this, however, the main reason behind the ineffectiveness of business ideasis the economic instability in Pakistan. Startups are born daily, yet most die at the same pace. In the last ten years, Pakistan’s entrepreneurial ecosystem has improved considerably and is now ranked 108 among 190 economies in the ease of doing business, according to the World Bank Group’s “Doing Business 2020” study.
Pakistan’s entrepreneurs primarily work from home, gathering projects from various online websites with their skillsets, such as freelancing sites like Fiverr, Upwork and e-commerce setup on numerous platforms like Alibaba and Amazon. Therefore, people with corporate life can easily manage their supplemental income via online media, selling products or provision of online services. This is also something that has become somewhat of a necessity in today’s economic atmosphere. You may be scared of your startup failing but there is a whole host of solutions, the first and foremost being targeting the audience for your unique point of sale out of the country through various platforms in the form of freelance. The first step, however, is to understand the scope of what you can do.
Where and How to Make Extra Income?
The struggle is always real, but you can make it work when you understand your inclinations. In the current economic situation, men and women must contribute better to empower themselves economically, especially women who want to support their spouses in the household. First, we need to understand that everything needs time and dedication. Therefore, the routine must be settled so that your full-time job, household management and wellbeing must all be aligned so that you can easily take time for your extra work to earn more than your gross income. We need almost 3 to 4 hours a day to generate extra income and for better outcome.
The most used freelance websites in Pakistan that offer both expert and novice freelancer’s profitable opportunities to work from home and generate supplementary income are Fiverr, Upwork, Guru, Freelancer.com, and People per Hour.
You can quickly locate jobs on Fiverr that match your expertise. Here, you can find management-related work, data entry, graphic designing, content writing, programming, and web-related work.
Clients frequently offer freelancers a variety of projects, depending on your abilities and the need of the client. These positions may be based on hourly work, or they may turn into your regular work.
Freelancers can build strong connections and an impressive portfolio with Guru to attract clients. Simply create a unique dashboard, and freelancers may access tasks, papers, files, and any other data pertaining to their employment through it. Guru also accepts hourly payments. This freelance website’s ability to help merchants establish enduring relationships is something that sets it apart.
Freelancer.com and People per Hour
Freelancer.com is one of the biggest platforms providing a lot of job opportunities. It offers approximately 12 million jobs. It is the best portal for beginners who have recently started their freelancing careers. All the jobs are based on working from home. People per Hour is also a similar freelancing site where clients offer a variety of pricing plans to sellers. Some pricing plans include one-time, quote-based payments, and monthly payments.
Social Media Platforms
You can also earn money through social media marketing by creating and sharing content, working with businesses, and participating in sponsored initiatives. Additionally, several social media networks offer financial incentives to creators as payment for their passion projects through monetization policies. The most influential platforms are YouTube, Facebook, Instagram, TikTok, and Snapchat.
The number of subscribers and views you have on YouTube affect how much money you can make according to the criteria set for monetization. You can start to earn money when your channel has a 1,000 subscribers and 4,000 public watch hours during the last 12 months.
Facebook is assisting content creators in diversifying their sources of income. Facebook offers a number of revenue-generating options, including in-stream advertisements, branded content, fan subscriptions, and groups. For people who have a business page on Facebook, monetization is possible, but the material must follow the company’s monetization guidelines.
For people interested in making money through affiliate marketing and sponsored posts, Instagram has long been a popular social media tool. Additionally, users can purchase badges during live videos on Instagram by making monetary contribution to a content creator. This makes it possible for viewers to support a live stream.
TikTok encourages and pays creators for their efforts in providing entertainment, inspiration, and for self-expression. Users must have at least 10,000 followers and 100,000 video views in the past 30 days. Users of TikTok who receive money from the creator fund can withdraw their earnings 30 days after the month has ended. These ratios are displayed on their dashboard. The money is transferred to the user’s preferred payment platform: either PayPal or Zelle.
Snapchat rewards up to $1 million per day for content produced on its platform. Users of Snapchat can upload their top snaps to Spotlight, a platform that shares this kind of content globally.
E-commerce or an online marketplace provides customers with various goods from multiple suppliers. The e-commerce operations and platforms for sellers are handled by large firms that run the marketplace, like Amazon or Alibaba. The most popular e-commerce sites which connects suppliers via business-to-business (B2B) enlisted are, Amazon, Alibaba, AliExpress, Daraz, and OLX.
Most buyers use these setups to obtain goods because they have the largest network of suppliers and manufacturers worldwide. These platforms support integration of Pakistan’s businesses in the international market.
More than 70 million middle-class consumers and Pakistan’s growing population are two key factors that can make creative company concepts a reality. All you need to do is start your firm with a great and innovative business concept. Local businesses with small investment that you can think about are, organic/poultry farming, coffee shop, girls hostel, tourism guide, catering/home chef, real estate investment, etc.
All these marketplaces mentioned above highlight the opportunities that technological evolution and digitization provide us with. All we need to do is develop our skillsets that must be honed with the changing times. The working module is also changing towards hybrid, and companies are now approaching developing countries to fulfil their IT or digital services as its cost-efficient. Therefore, we must understand the current services requirement and skillsets for supplemental income. The Covid-19 outbreak has also fueled the growth of online businesses, and e-commerce marketplaces have expanded at an exponential rate. Therefore, women must expand their businesses or skillsets, and selling online is a great option to move forward. HH
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