Turning Residential Wifi to Dollars: Income from Home


 

In the world of business, opportunities can come from anywhere. Even the most established of businesses can come from the most humble of places and some opportunities can come from unexpected places. But what if you aren’t a savvy young entrepreneur with a shiny business degree? The corporate ladder might be too stressful and confusing to some. Luckily, with how far technology and business have developed, anyone with a dream and a residential wifi and some sort of device that is capable of connecting to the internet can make some money on the side, or even go completely home based! With so many options online, you can be sure there’s something for you. Let’s talk about some of them.

First and foremost, let’s go over the most basic thing you think about when you have something that might be beneficial to others in the context of making money: renting your WiFi. When you have your new internet service installed from internet service providers like Spectrum, you’re basically all set to go. In its simplest form, this is basically a Wi-Fi hotspot business where you offer your WiFi for a small fee and is best if you are in an apartment type of home. Since your home is the best place to test the waters for this kind of business anyway, it makes sense to rent your residential WiFi to get the most out of it. The perks of this idea include not having to get permission for installing the equipment needed, since this is your residence after all, and not having to share the profits with anyone. Despite public Wi-Fi becoming more and more available in modern establishments, this market can still be tapped for some passive income if you just want to make a buck or two while you basically do nothing. Since this may be considered an informal business, you don’t really need anything to start up besides the things you already have when you installed or had your residential WiFi installed by your internet service provider. Besides requiring little to no capital, it really isn’t all that hard. Basically, what you need to do is set up a password on your WiFi and charge people for it. After they pay, you can simply give them the password. For security reasons, you should change your password every day, or at the very least, change it every so often. Since it is expected that a multitude of users will be using the service at any given time, you should make sure you have a high speed internet connection, like the ones available for affordable prices at xyzinternet.com, as this will prevent the connections from crawling to a stop and ensures your customers leave satisfied. That’s all there is to it, and this should be a good foundation on where to begin your journey of making money through Wi-Fi.

Okay, passive income is a good thing. You get a decent amount without putting in too much effort. That’s great, but what about those who prefer a more active and hands on approach? There are still a multitude of options out there. Aside from the basic internet connection that you’ll need, most of these options only require a device that connects to it, preferably a laptop or desktop personal computer, just because it has physical keyboards. However, with smartphones and tablets getting better and better with every new product, the line is slowly blurring between them, especially since some tablets come with or have compatible Bluetooth keyboards. Will it be as tactile as a more traditional laptop or desktop keyboard? The technology isn’t quite there yet, even on flagship level tablets. Will it be perfectly usable for most day-to-day tasks that regular consumers use? You bet!

Online jobs are an example of such tasks that can give you some money on the side using your residential WiFi. Please do remember though that some of these websites you see online that offer potentially absurd amounts of money can be fake. As such, always use caution when visiting websites you think are shady. Most reputable sites usually have reviews from different sources if you want that extra layer of protection. Survey websites are popular among people who do not want a labour intensive task that still pays relatively decently. How it works is that you basically take and submit the data from surveys online. The companies that take these surveys sell the data to 3rd party potential clients. This helps the potential clients better evaluate the particular market they are looking into, and offers them some insight about where they need to improve on to penetrate the market with their good or service. Many popular websites are available online, but like we mentioned before, use caution when visiting the lesser known websites.

Tasks like taking surveys online can be a good option, but you generally expect a relatively low pay compared to, for lack of a better term, getting a real job. If what you seek is the opportunity for higher pay outs, depending on your performance, then maybe blogging is a good option for you. At its simplest form, you can think of blogging as an online diary. You can make it about anything. It can be about your interests, gadgets, food, travelling, or anything else under the sun. This, however, is a double-edgeddouble-edged sword. It is great in the sense that you have basically full control of anything and can choose the content. It is not so great in the sense that if it is not popular, you may have a pittance of a payment, and sometimes even none at all! If this is the path you choose, do not get discouraged if you don’t get a lot of followers and viewers during your first few months, and in some cases even years. Even the most reputable and popular bloggers had to start somewhere.

If blogging isn’t your thing and you still want to be in control of how much money you earn, maybe freelancing is your solution?  If you have a particular talent that you know you can put to good use, you should consider looking for clients who could put those talents for things they themselves find useful.  There are 2 ways to do this, you can look for clients manually. What this means is that you can actively seek them out yourself.  How you do it is up to you, you can market yourself to potential clients through ads or simply telling friends and family about it. Never underestimate the power of word-of-mouth marketing. While this is a popular method for digital nomads, also known as people who can work from anywhere, this is a good option as well for people who just want to stay at home and earn a living without having to go through the hassles of traffic or pesky work mates. The 2nd way you can seek potential clients is through signing up in Freelancing sites like Upwork.com. Websites like these basically connect aspiring freelancers with a specific set of skills to clients who need those skills for whatever reasons they may have. This can include coding, Microsoft Excel, word processing, encoding audio files, digital marketing, design, and much, much more. If you can’t find the client, do not worry too much about it. Good things take time, and even the mighty oak tree was once a humble sapling.

For people who like to live on the more dangerous side, there are options for you as well. One such method is through investing and trading stocks. Methods like these can be very rewarding and profitable, albeit risky. Stocks are very volatile, so indirectly, you can think of this as a sort of gamble. It is a gamble in the sense that you cannot predict the future, but you don’t have to come charging in blind. We understand your money is important, and there are ways to ensure your likelihood of turning a profit are as high as possible. Making educated decisions is good. What does this mean? Well, when investing, it is relatively safer to invest in established companies you know will most likely continue only to grow. These will be more expensive, and you generally earn less. Another option is to invest in a start-up. These will generally be cheaper compared to more established companies, but the pay outs can be huge as well. If the company is a success in what it sets out to do, being an early investor will earn you a lot more than the safer option. However, if a company fails, there are cases where you get only a fraction of what you invested, and in some cases even nothing. Your tolerance in being adventurous will determine which suits you best.

What can we take away from this? Wi-Fi is good on its own for home use, but the opportunities online are still a relatively untapped market in terms of potential. There are many opportunities all around us, you just need to learn how to look for what the market needs wherever you are. What is most important, however, is that you do not let a few failed attempts discourage you from a potentially good opportunity.

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18 Oct 2018


By XYZies
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