Self Employment

Self Employment



50x50

By shristi

Businesses have taken a huge blow as the deadly coronavirus came raging, setting fire to all business goals and new ventures. The pandemic has forced billions of people all across the globe to retreat into the confines of the four walls. However, this not only threatened the economy at large but also the livelihoods of uncountable people. The rise of unemployment and the state of joblessness has left people feeling helpless and almost paranoid. 
  • Before the onset of the pandemic, the global GDP growth was predicted at 2.3 %. The Indian economy was observed to shrink to 23.9% year-on-year in the second quarter of 2020. This is even worse than market forecasts of an 18.3% drop.
  • Even the Great Depression of 1930, seems to falter in front of the pandemic as the global economy is predicted to shrink by more than 3%. 
How Can You Cash In From Home During Emergencies?
One of the rapidly growing ways to combat this economic lapse is Work From Home (WFH). This period of inactivity can be really demoralizing and can even take a toll on your mental health. Even though the lockdown is gradually being lifted and people are once again going back to work, the risk remains unavoidable. 
  • Corona is still continuously peaking and there are many who want to eliminate the risk of contracting the disease. 
  • Self-employment from the comfort of one’s home is one of the safest ways to earn money for all those who have been laid off by their employers, are in-between jobs or anyone who wants to grow their own business. 
What Is Self-Employment?
A self-employed worker does not report to an employer and either is the proprietor of one’s own business or as a freelancer doing individual projects. 
  • In India, there is a workforce estimate of around 473 million, out of which 246 million of the workforce is self employed. 
  • In India 4.2 crore of 5.8 crore organizations i. e, 71.7%, do not employ people. So the self employed sector is basically involved in agriculture. Those who aren't are usually involved in meagre paying works like tea stalls, roadside eateries, mechanics etc. 
  • Most people in India get engaged in self employment around the age of 35-44. 
People often seem to confuse self employment with entrepreneurship and startups. So, what differentiates self employment? 
  • self-employment: This is basically created to develop an earning opportunity for the founders.
  • entrepreneurship: any new organizations, be it businesses, self-employment or startups are all entrepreneurship
  • startup: start up is a new organization which is created with the aspirations of growing into a larger organization with employees under them. 
Here are 5 self-employment ideas to get you started from the comfort of your home are:
  1. YouTube – All you need to grow your career in YouTube is a dash of self-confidence and passion. YouTube has seen a monumental growth and has around 2 billion users worldwide. YouTube has become the second most popular social media platform. 
  • YouTube is a great platform to make a name for yourself in the niche you want to pursue and even earn in lakhs. YouTube is home to an ocean of channels – fashion, education, makeup, comedy, news, politics, views and opinions, sports, food, gaming, music, dance, art, tech. You name it, you have it. 
  • YouTube allows you to monetize your videos to earn money. The more valuable content you churn out, the more subscribers and engagement you will get and thus, more money. To monetize your channel, you need to gain 4000 watch hours within 12 months and 1000 subscribers. 
  • Ad revenue is the best way to earn from YouTube, Channel memberships, YouTube Premium Revenue, merchandise shelf, super chat payments, sponsored content. There are a bunch of ways to earn money through YouTube but you need to be consistent to be successful. 
  • For example, with gaming becoming a popular distraction during covid, several gamers are flocking to YouTube to live stream their game and earn through it. Some of these gamers earn in lakhs. 
Here are a few links to help you get started - 
  1. Blogging – A blog is simply a reflection of the writer’s thoughts and opinions. You can write on whatever your field of expertise is.
  • Before you start your own blog, it is very important to know which niche/ topic you are the most comfortable dealing with. You want your readers to be captivated by your knowledge on the subject. Your blog should be reliable and must provide correct information. Your blog could be based on movies, reviews, sports, music, fashion, cars or whatever intrigues you. 
  • Over the years, blogging has evolved manifolds and has turned into a profitable occupation. There are numerous earning options through blogging like, ad networks, sponsored reviews, native or direct advertising, selling online items, providing online courses, services etc. 
  • Blogging has grown immensely with approximately 409 million people engaging with around 20 billion pages. In the past 5 years, blogging has grown by 12%. On an average a blogger can earn around $300-$400 per month, in India. 
  • With people surfing the internet more and more on a regular basis, blogs are generating even more traffic. President & co-founder of Bloggers Alliance, Amit Nagpalas, says that there are bloggers who earn as much as $60,000 on a monthly basis. 
Here are a few videos you can watch to get a clearer picture on blogging as a career - 
  1. App Development – Almost everybody today owns a smartphone. Therefore, the easiest way to grow one’s business and reach a user is through their mobile. 
  • 90% of the time spent using smartphones is spent on the apps. In this case, an application makes the work super easy and convenient. Mobile applications are predicted to draw in $188.9 billion in revenue.
  •  Services in almost every field have innumerable apps today and therefore, app developers are in great demand. From ordering groceries, clothing to booking a cab, almost everything requires access to an app. This industry has a lot of potential and you can make the most of it. 
  • On an average, app developers can earn $4,100 in India. 
  • During the COVID-19 pandemic, contact tracing apps have seen a surge. A possible opportunity is available in every scenario. App developers can make the best of such situations and come up with unique apps. 
Go through the links below to learn more - 
  1. Graphic Designing – Graphic designing can be intimidating for some but there are plenty of tools which makes learning the basics of it extremely simple. Every business requires a graphic designer.
  • This field has become one of the most demanding fields. Every business requires branding, logo designing, marketing and promotional materials, business cards. A graphic designer plays an important role in the success of a business and a brand’s personality. 
  • This industry has grown up to 3.1% in the last 5 years. Depending on how skilled you are, you can even earn up to Rs. 12-15 lpa.
  • There are several work from home freelancing projects available on various sites like LinkedIn and Internshala, paying a decent amount. Even students who are utilising their time to hone their skills can gain more experience by working as a freelancer. 
Here is a behance.net graphic designing stream for you to get an idea of how to make an impressive portfolio - 
 
  1. Online Courses/Tutoring – With educational institutes spiraling into online education, it is obvious that students will have a hard time coping up with the course work. Most students attended tuitions and coaching separately to grasp the concepts taught in school/university. 
  • This is a great time to impart knowledge to such students by holding online tutoring. Coaching for fields other than education has also gained popularity during the pandemic since people have now started discovering new hobbies to keep themselves entertained. Dance, music, fitness, cooking are some other options available. Therefore, if you are someone who has knowledge in a field and want to impart knowledge, venturing into this profession can prove to be a valuable source of income during the lockdown. 
  • Garima Malik, an astrophysicist along with her team took the initiative of introducing online astronomy classes for kids. Her classes focused on teaching the kids about celestial bodies in a fun and creative way. They would come up with innovative experiments to keep the kids engaged and make learning interesting for them. 
  • Anuj Mishra, a Kathak dancer, started his online dance classes at reasonable rates. 
The link down below will direct you to the 'indiandanceworld.com' page where you can make the most of your art. This page allows you to become an instructor and conduct your own classes. 
 
  1. Online camp - Kids have been cooped up in their homes all summer, pushed into isolation by the dreaded coronavirus. The pandemic has not only taken away their smiles but has also impacted the kids negatively. 
  • Due to lack of proper guidance, parents have little knowledge on how to counsel their children through this difficult phase. Kids are easily impressionable. Thus, COVID-19 is not only affecting them mentally but also causing physical and emotional stress.
  •  The psychological damage could be potentially dangerous and could impact them for a long time. The lockdown is imposing restrictions on their daily activities, their physical well being and their mental health.
  • Several organizations and individuals across the country and the globe have taken the initiative to bring the idea of online camp to life. These online camps aim to bring the fun and joy back into the kids’ lives while also maintaining the social distancing norms. These camps will be centered around teaching kids new things while being at home, using their creativity and being active.
  • One such example of an online camp is by first cry intelli. Their online camp is known as intelli summer camp. This camp focused on teaching kids new things and making learning more exciting by offering interactive and fun sessions with experts. 
Down below are two sources for you to amass ideas and understand how to build a successful online camp - 
COVID-19 has created disarray and chaos as millions of people battle to survive. These are some easy self-employment methods to earn a livelihood even in the long run post coronavirus. Play by your own rules and be your own boss now.


Coming Soon