How to Make Money During the Coronavirus
It’s four days after the United States had declared a “State of Emergency”, and in the state of Ohio everything has progressively slowed to a halt. It started with gatherings then quickly transitioned to all bars and restaurants closing. The last straw, gyms and fitness centers, hit me exceptionally hard (but hey it seems like everyone is now a fan of jogging.)
Thirty days ago, an economic depression seemed completely unlikely, after all the stock market was at an all-time high. But a new type of economic shutdown, the likes that we have never seen, has started to crystalize into our existence.
Businesses in some industry like bars, entertainment, and sports have all but completely halted operations. Others are trying to continue at a remote capacity, while essential industries like grocery stores are limiting hours. Obviously working at some capacity will increase contact with others, so prioritize your own specific situation. That said, while many people are laid up working from home or temporarily laid off, how can we earn a few extra bucks? And no, it doesn’t include selling hand sanitizer.
- Sign up for a Food App
Apps like DoorDash, Grubhub, and UberEats are likely being hammered right now with the desire for limited contact. They have even set up ways that you don’t need to have any interaction in order to drop off food. If the trend continues for a while, you may be able to make as much dropping off food for a few hours a day as you did anywhere else. Plus, some drivers may be opting to avoid contact, so there may still be room in the market for new drivers. Just start ASAP as there may be some processing time (I’ve heard Uber Eats is the easiest and quickest to get into).
2. Work for Amazon
Amazon’s business is booming to accommodate the new no-contact world, and they just announced they will be hiring 100,000 new workers. These workers will likely be in delivery and fulfillment centers helping Amazon meet demand. These fulfillment centers are now all over the United States. Amazon has been known to be a hard place to work, but they do treat their employees very well. Plus, if it’s only for a few weeks, you may avoid the inevitable burnout.
3. Work for Another Logistics Business
If you can’t get into Amazon, maybe a smaller logistics operation will need help. The logistics world is up huge right now, so FedEx, UPS, the Post Office, and DHL are all options. Also, don’t forget about your small e-commerce companies! Anyone who ships nutrition, health, grocery, or medical equipment will be in need of additional labor. Search for them on your local listings and cold call them. We’re at a time where emails may get missed, so take action now if you want a paycheck this week!
4. Buy the dip
Yesterday I heard someone say, “The rich are buying stocks and the poor are buying toilet paper.”
The market has been historically volatile, but that’s no reason to avoid it! The S and P has only had two days that dropped further than last week, Black Monday in 1987 and 1929. It’s no short term fix, but ten years after Black Monday (which was caused by deep-seeded economic policy issues), you would have almost quadrupled your money. Twenty years would have 6x’d your money and thirty years would have more than 11x’d your money. Buying in this low market, even if you don’t hit the bottom, is certain to make you money in the long term.
5. Write that Novel You’ve Been Delaying
If you are going to be coupled up inside, you may as well make it productive. Amazon’s KDP allows authors to write and edit their own text then simply upload to the platform. Amazon will make your book instantly available on the Kindle library and can also print your books on demand (for a fee). You can even record your own Audio version and sell it on Audible! This is a great way to get your own content out there without the need for a publisher. If you can get a few things out, you will become a better writer, learn about your market, and gain some namesake. With a little bit of luck, maybe your future projects will get picked up by a publisher!
6. Start That Blog / Podcast / YouTube Channel / Tik Tok
Hey, time should be on your side. Most of the equipment you would need for any of the above you likely already have in your smartphone. Build out your personal brand while the world is glued online! Blogging can be a good way to build an audience that you may be able to monetize with Adsense. Medium may even pay you if you get enough views!
Podcasts can be on literally any topic (I just found out there are a whole series of podcasts in one of my industries, roofing). While you may think no one cares about your topic, there is probably a much larger audience than you realize. You can eventually sell ads or link back to your books, blog, or products.
Your YouTube Channel can be monetized through YouTube ads, affiliate links, and product sales. YouTube is one of the ways that the future is gaining information on a myriad of topic, and it isn’t showing any signs of slowing down! Plus, you’ll gain useful skills in photography, videography, and video editing. It’s a can’t lose situation!
Tik Tok has taken the world by storm and made numerous kids famous. That doesn’t stop it from being a legit way to build your brand and influence. There are also number of older individuals on the platform who could convert into customers. Just think about how you will eventually pull these people into your ‘brand’ and eventually monetize.
The important thing, is simply staying busy. This is NOT a time to take a few weeks off. I’m looking at it like a time to get ahead while others are waiting for this to blow over. The people who go out and make something happen will be the ones who thrive. No one is going to be knocking on your door with a job offer. Just stay safe out there while doing it.
Alexander V. Johnson
