It felt just like yesterday when Malaysia was placed under the Movement Control Order (MCO) to combat the spread of COVID-19, and in the blink of an eye, over a month has passed.
With the health and economic crisis we’re facing, one can’t help but wonder—what could I have done to prepare for this better financially?
Stuck at home during MCO, Malaysians have been spending most of their time online.
Undeniably, the internet remains as one of the best democratizers of opportunity for most of us. While most people might not be aware of this, practically any skills you may have can potentially turn into an alternative revenue stream.
Here are 4 ways you can earn some side income online during the MCO that you can start today.
1. Get Rid of Your Extra Stuff
Consider selling old gifts or items you may not have used in the last six months. Even though this may not be a sustainable side hustle, it’s still an easy way to earn extra cash conveniently.
Platforms such as Carousell and Mudah.my are dedicated solely for selling preloved goods, while Facebook Marketplace is dedicated to e-commerce postings. Search long enough and you can find an app that caters to every “category” a la e-commerce.
2. Go Freelance
Creatives may be the best candidates for this pursuit as most of them already know that their skills are in-demand. Many try to build their own networks using social media, however, there are apps that can help you tap into potential customers.
Upwork and Freelancer.com being the international partners of Malaysia Economic Development Corporation (MDEC) pay you for every creative project you commit to. Jobs could range from website creation to even simple transcription work.
3. Try Stock Investing
This may be difficult to consider now, especially when you see stock markets worldwide are all in the red. Once the world economy stabilizes, it’s one way to generate income.
If it all seems overwhelming, sign up for an online investment platform that offers tips and smart features, allowing everyone to get a hand in investing.
Start small. You only have to invest small amounts, allowing you to dip your toe in the water. Invest in what you know and what you’ve interested in.
For those who don’t have the time or knowledge to do it on their own, you can choose to copy other people’s investment strategies on available investment platforms.
4. Take Your Business From Offline To Online
Now more than ever, businesses are being forced to rethink their strategies. In the face of increasing digitization and the ongoing pandemic, businesses are discovering just how much it pays to have a solid online presence.
A few leading examples of companies that have transitioned online and embraced the change is Flyproject.co, Kuala Lumpur’s biggest boutique fitness centre, and Tribe Boxing Studio, a boxing fitness centre, as they are now offering online workout sessions for their members to try at the comfort of their home.
With technological developments to keep you connected plus a little creativity and innovation, people are constantly finding new ways to keep businesses alive.
In these trying times, businesses have to come up with new ways to survive during the MCO and the Malaysian government is taking drastic distancing measures to try and curb the spread of COVID-19.
Yet the list above shows us even in times of crisis, there are still opportunities to be had. With the Internet, the world can truly be your oyster, all without you having to leave the safety and comfort of your own home.
Realizing this can make a difference between you being a victim of the current circumstances or coming out stronger and hopefully more financially sound.