The cost of living has gone up everywhere in the world, and the majority of people in this day and age are starting to feel the effects of it. According to the Consumer Price Index published by the Bureau of Labor Statistics, the cost of living in America has increased by 14% over the past three years. This is something that can be seen simply by glancing at the United States. In here, we are going to explorer what are the new way of passive income for nurses start their own business.
The combination of the recent spike in the cost of living and the general slowdown in the economy demonstrates to us that the time has never been more urgent than it is right now to get started on developing some other sources of income.
What a sobering thought! However, this is not the end of the story. “The International Monetary Fund has cut its prediction for global growth to 2.9% percent in 2023, down from the 3.6% percent it had forecasted in April,
Now is the moment to take action if you want to maintain or improve your level of life while also staying ahead of the current economic slowdown.
As a registered nurse, you have access to a plethora of fantastic and interesting opportunities for supplementary income, which is one of the most appealing aspects of your profession. Continue reading for a list of the top 10 side hustles that nurses may pursue!
1. Make First Aid Training Available.
Because nurses work in shifts, you are in the ideal position to pick up a part-time job on the days when you are not on duty. The provision of first aid training is an excellent choice that should be taken into consideration.
According to the First Aid Training – National Safety Council, the criteria for first-aid methods and basic life support procedures are revised every five years to reflect the most recent findings in medical research.
This opens up a huge market opportunity for you, which you may capitalize on by maintaining current first-aid abilities.
You may establish connections with the schools in the area and investigate the possibility of teaching the course to children attending those schools for a charge. One more choice you have is to network with organizations that provide au pair training and offer your course to the students of those organizations.
Let’s take a look at the perks and potential drawbacks of teaching your own first aid class:
Advantages.
Flexibility.
Can result in a substantial amount of revenue.
The fulfillment that comes from showing other people how to be helpful and save lives.
Disadvantages.
People that attend may find themselves having to spend a lot of time doing so.
It’s possible that attendees may have to pay a lot of money.
require strong abilities in education.
Important Factors That Must Be Considered
Earn your credentials so that you may teach first aid classes. Think about enrolling in a training program offered by organizations such as the American Heart Association (AHA) or the American Red Cross.
Make use of your previous nursing experience as well as your medical expertise to mold your lesson in such a way that it incorporates the essential elements required for life-saving without overwhelming the participants with information.
2. Obtain a Position as a Teacher at a Nursing School.
The field of nursing is one that frequently has a scarcity of available job candidates. When you take into account the fact that the U.S. In light of the fact that the Bureau of Labor Statistics (2018) projects that an additional 1.1 million registered nurses will be required by the year 2020, it is clear that there is an urgent requirement to educate more nursing professionals.
This is where you may have the opportunity to make a contribution as a teacher at a nursing school and help give the necessary training.
Let’s take a more in-depth look at the responsibilities of a nursing educator. Students who wish to pursue a profession in nursing receive instruction from a nursing educator. In order to assist in the training of nurses, they make use of both the instructional material and the practical nursing expertise that they have gained.
The lectures that are going to be given to the students are prepared by the nurse instructors, and they also grade the students’ tests.
They are employed in a variety of settings, including as universities, nursing vocational schools, and other institutions of a similar nature.
Instructors in nursing are qualified to teach in the following types of programs:
2 year or 4-year diploma.
Associate degree.
Program leading to a bachelor’s degree in nursing.
Which of these you will be qualified to teach relies on the degree of education you have obtained as well as the work experience you have had. You need to have a significant amount of education and experience under your belt before you can even contemplate this choice.
A bachelor’s degree in nursing is the bare minimum educational qualification for those who want to work in clinical practice education (BSN). On the other hand, if you have sufficient clinical experience, certain institutions may accept a Master of Science in Nursing (MSN) degree.
In addition to this, you will be expected to do a certain amount of clinical work in the area of focus that you have chosen to pursue as a career.
These amounts of hours differ from school to school; thus, it is advisable to examine the exact criteria of the school at which you wish to teach in order to ensure that you meet all of the necessary qualifications.
In addition to fulfilling the requirements for the state license that will be necessary, you will also be required to get the Certified Nurse Educator (CNE) certificate. You can acquire this information by contacting The National League for Nursing.
The choice of working as a nursing teacher gives one the opportunity to train a wide variety of topics, ranging from fundamentals of the health care industry to more advanced topics. Determine which of the available options is most suitable for you based on your previous experience and qualifications.
How does one become a nursing teacher, and what are the benefits and drawbacks of doing so?
Advantages.
Flexible.
Profitable endeavors.
Having a positive impact on the careers of future nurses provides a sense of accomplishment.
A less stressful environment than working with patients in a hospital setting.
Disadvantages.
The process of preparing your classes takes a lot of time.
Need to have solid abilities in teaching.
It takes some time to mark and grade examinations.
You will require a significant amount of patience.
Important Factors That Must Be Considered
First, choose the school or university where you wish to work, and then inquire there about the precise qualifications needed for that position. It varies not just from one institution to the next but also from one state to the next.
Keep in mind that in order to be successful in this kind of side hustle, you will need to have good leadership and communication abilities. To improve these abilities, you might want to think about enrolling in a crash course.
3. Publishing on Kindle Devices.
We all know that Amazon is the biggest online retailer. In addition to this, they are “by far the largest book reseller in the United States with 560 million e-book unit sales.” If you’re looking for a side business, then Kindle publishing is unquestionably a route you should investigate.
Self-publishing on Amazon is what’s involved in the process of using Kindle publishing. It doesn’t cost you anything, and you can get started earning money in as little as a day. On Amazon, anyone may publish their own work and sell it.
A first aid guide is an example of the kind of book that may be published using the Amazon Kindle platform. You can make some extra money by instructing first aid lessons, as was suggested previously. However, rather than stopping there, why not take it one step further and expand it into a first aid guidebook geared at the common person?
The majority of the time, books on first aid are written with a great deal of technical jargon and in a style that is so convoluted that it can be challenging for the average individual to understand what they need to know.
You will be able to satisfy the needs of the vast majority of people if you publish an easy-to-understand first aid booklet that is straightforward and straightforward.
Let’s take a brief look at some of the benefits and drawbacks of publishing on Kindle:
Advantages.
You will have quicker access to the marketplace.
Can publish their work in both print and digital formats.
Make a greater profit.
The correction of errors is not difficult.
Maintain complete command of the marketing strategy and pricing decisions.
Producing it won’t break the bank.
You are able to give high-quality information while adhering to a more condensed structure.
Disadvantages.
There are some readers who favor the traditional paperback format.
It could be challenging to format the electronic book.
Amazon is the only platform available to you at this time.
There is rivalry in this arena.
You are required to maintain an exclusivity term with Amazon that lasts for ninety days.
Important Factors That Must Be Considered.
Check out what other authors are doing in the market segment that you aim to target with your book as part of your study. Check to see whether there are other books that are comparable to yours, how you may give your book an advantage over others, and whether or not there are sufficient customers. You may accomplish this by visiting to Amazon.com and clicking on the bestseller list in the category that you have selected for the title of your book. This will allow you to see how well your book is selling in that category. This will offer you the clearest picture possible of whether or not the market segment that you have in mind for your book is a feasible one.
It is important to consider how you will package your book! In order to get people’s attention, it must have an appealing appearance. Put getting a professional design for your cover at the top of your to-do list. Also, keep in mind that it’s crucial to pay attention to Amazon’s standards for how the formatting of your ebook must be, and make sure that you conform to those rules.
4. Immunization Clinics.
Due to the fact that this is temporary labor that begins around the beginning of September, it makes for an excellent choice for a side business.
“Manufacturers have projected that they will provide as many as 163-168 million doses of influenza vaccine for the U.S. market for the 2018-2019 season,” and they will need nurses to help administer all of these flu shots to people. “For the 2018-2019 season, manufacturers have projected that they will provide as many as 163-168 million doses of influenza vaccine for the U.S. Here is where you come in to play!
Simplified.com is one example of a website that allows users to look for seasonal labor opportunities, such as administering flu shots. In addition to this, you may inquire about local clinics in your region.
As was discussed before, one of the responsibilities of your employment would be to give them the flu vaccination. You can make a respectable living doing this, with an hourly wage ranging from $25 to $40. You are also able to select the number of hours that you wish to work and book them in accordance with your agenda.
Let’s take a more in-depth look at the benefits and drawbacks of this supplementary income opportunity:
Advantages.
Flexible.
Profitable money.
Very little stress.
Disadvantages.
There is a possibility of lengthy lines of people; you will require crowd management.
Work of this nature is seasonal.
Need to get everything in order.
Important Factors That Must Be Considered
Keep in mind that as part of the terms of your contract, you may be compelled to travel, although the time spent traveling may not be compensated. Confirm with your company ahead of time whether or not you will be compensated for the time you spend traveling.
You should be aware that this is a fast-paced profession, and you will also need experience working with children in order to qualify for it.
Because the daily plan might be subject to change, you need to be ready to be flexible and deal with whatever comes your way.
5. Medical Transcription.
One more option for a side business for you to think about is medical transcribing. When you take into consideration the fact that “the global market for Medical Transcription (MT) services is estimated to reach $70 billion by 2024,” you come to the realization that this is most certainly something to evaluate and think about.
Listening to audio recordings of doctors and other medical professionals and then transcribing what’s on those recordings is part of what’s involved in being a medical transcriptionist.
Because you will need to grasp medical language and interpret medical abbreviations, having a history in the medical field and working as a nurse will give you a significant edge when pursuing this additional source of income. In addition to this, you will be expected to update several papers.
TranscribeMe is an organization that might provide you with opportunities to work as a medical transcriptionist on a part-time basis. You have the potential to earn up to $20 for each audio hour. You are given consistent payments from them on a regular basis in addition to a continuous flow of work.
Let’s take a look at some of the benefits and drawbacks associated with working as a medical transcriptionist:
Advantages.
Your working hours are up to your discretion.
Fantastic wealth.
You have the option of working from home.
Disadvantages.
You must have self-control.
Could be stressful if a client needs the task to be completed in a short amount of time.
Work is done sitting at a desk in front of a computer.
Important Factors That Must Be Considered
To be able to undertake medical transcribing, you will require some software. In order to complete this task, you will require the following items: software for word processing, software to play the audio, a foot pedal, a medical lexicon, and a headphone of high quality.
To be considered for a position in medical transcribing, you will need to complete some training first. Career Step is an online school that can give this training, and it is highly recommended that you check into it.
6. Develop Your Skills as a Health Coach.
This is yet another excellent choice to take into consideration, particularly when you take into account the fact that “health coaching is a $6 billion service industry” and that “it is showing no sign of slowing down.”
A health coach provides customers with one-on-one consultations to evaluate the clients’ current state of personal health and wellness. Following this, the health coach assists the client in developing strategies and a personalized plan to address any health or weight-related concerns.
Diet, vitamins, and exercise regimens are just some of the topics that health coaches address. They also cover everything in between. You already have a focus on health and you work in the sector, so you have a leg up on the competition when it comes to this side gig.
You may expect to earn anywhere from $17 to $25 per hour when working as a health coach.
How does one become a health coach, and what are the benefits and drawbacks of doing so?
Advantages.
Flexibility.
Profitable money.
When a customer achieves their objectives, there is a sense of job satisfaction.
Disadvantages.
Customers could not show up if they cancel their appointments in advance.
When dealing with unpleasant customers or clients, it can be emotionally tiring.
When customers aren’t completely dedicated to the program, it can be difficult to maintain momentum.
Important Factors That Must Be Considered
In order to work as a health coach, you are going to need to get certified. A certification program known as Certified Health Coach is one of the options provided by the National Society of Health Coaches (NSHC) (CHC).
Establish a cancellation policy so that customers are aware of what is expected of them in the event that they need to cancel, as well as the payments that they will be responsible for.
7. Become a Caregiver on a Part-time Basis.
This is a terrific opportunity for someone with your nursing background to supplement their income. According to an article published in Forbes, “an estimated 117 million Americans will require help of some form by the year 2020.” There is certainly room in this market for a supplementary line of work.
You will provide care for private patients in their homes if you work as a caregiver on a part-time basis, but you also have the option of working at an elderly care facility.
People who are ill, injured, or old will be entrusted to your care, and you will be responsible for their treatment. In addition to helping them with their basic hygiene and medical requirements, you will also aid them in scheduling doctor’s visits and may even assist in the organization of transportation for them if necessary.
Indeed.com estimates that the typical hourly wage for a caregiver is $12.10, although the amount you receive for your services will likely differ depending on the employer you choose.
To give you an idea of the kind of organization that can help you get work as a part-time caregiver, have a look at Eldercare.com.
Let’s take a look now at both the positive and negative aspects of working in the caregiving field.
Advantages.
Flexible hours.
Interaction on a personal level with the patients.
You are in charge of your own career.
Good pay.
Disadvantages.
The shifts might be very long.
Work that is taxing on the body.
Can be taxing on the emotional system.
Important Factors That Must Be Considered
If you are a caregiver, it is really necessary for you to take care of your own health and welfare. Your top priority should be to strike a healthy balance in your life, including setting aside time to relax and refuel.
There are several categories of home caregivers, and if you want to work as a nursing carer, having a background as a registered nurse (RN) or licensed practical nurse (LPN) should be adequate; nevertheless, you should verify this information first.
8. Registered Nurse Working Via Telehealth.
And as a last suggestion, think about doing some part-time employment in the field of telehealth. When you take into consideration the fact that “The U.S. You can see that it is very much worth looking into because the market for telehealth is predicted to reach sales of more than $13 billion by the year 2023.
The process of consulting with patients and providing treatment to them over the phone or through the internet utilizing a webcam is what is known as telehealth nursing.
You have the ability to make anywhere from $22 to $38 per hour, but it all depends on who you work for.
Let’s take a look at some of the benefits and drawbacks of working as a nurse in the telehealth industry:
Advantages.
Flexibility.
Profitable endeavors.
The ability to aid patients provides job pleasure.
Disadvantages.
Internet and computer problems that are caused by technological glitches can be quite annoying.
It often requires putting in a lot of overtime.
Important Factors That Must Be Considered
To work as a nurse in telehealth, you will need to possess a nursing license, along with a nursing degree or certificate, along with outstanding computer and communication skills.
You will need to be able to think quickly on your feet, function well under pressure, and maintain your composure all while listening to the needs of your patient. You will also need to possess a compassionate nature. Take a look at these characteristics to see whether or not this would be a good side hustle for you to pursue.
The conclusion is as follows: Numerous opportunities for supplemental income are available to registered nurses. Think about all of the many opportunities, and then take the first step toward launching your very own side business.
9. Amazon FBA.
Amazon, the largest online retailer, is unquestionably an alternative that should not be disregarded. In 2018, Amazon’s revenue was $232.9 billion, and the company saw a 30.9 percent increase in its net profits.
We are aware that Amazon is the most popular and largest online marketplace with a huge selection of goods available for purchase; but, what precisely is Amazon FBA, and how does it operate?
Amazon gives vendors the option of selling their products through Amazon’s platform, after which the seller can hand over responsibility for customer service and delivery logistics to Amazon.
This is how the process goes. You enroll with Amazon in the FBA (Fulfillment by Amazon) program to sell your products through their platform. You send Amazon your merchandise so that it may be stored in the warehouse that they provide. Amazon handles the entirety of the order fulfillment process, including packaging, shipping, and offering support to customers around the clock when they purchase your goods. Amazon will charge you a fee to use all of these features, but doing so will make your life much simpler.
You might be curious about how to determine the kind of goods to sell through Amazon’s FBA service. You will be able to get a general notion of what people are looking for and purchasing if you take a look at the bestselling list that Amazon maintains for your category.
You may, for instance, sell the First Aid Only 299 Piece all-purpose first aid kit. This is just one example of something you could sell. You will notice that it is positioned among the greatest things on this list of best-sellers.
Because the bestselling lists on Amazon are derived directly from customer purchases, they provide a rather realistic depiction of the kinds of things that are likely to be successful in the marketplace.
The question now is, what exactly are the benefits and drawbacks of selling through Amazon FBA?
Advantages.
Easy on the seller’s schedule in terms of time commitment.
Prompt shipping and arrival from Amazon.
Buyer will not be charged for shipping costs.
Amazon offers round-the-clock assistance to its customers.
Amazon offers storage space to its customers.
Amazon Prime membership is granted to purchasers.
Disadvantages.
FBA fees must be paid.
The vendor will have far less influence over the process.
Because of Amazon’s generous return policy, sending items back to the company is a breeze.
It may be difficult to maintain accurate records of your inventory.
There is a cost for long-term storage.
Because it differs from one location to the next, calculating sales tax can be challenging.
Important Factors That Must Be Considered
Make sure you have a thorough understanding of the instructions that Amazon provides on how to package your items. They are quite tough about enforcing these restrictions, therefore it is imperative that you follow them. Take special care to put them in Amazon’s database in the correct manner, as well as to verify that they are accurately tagged and sent to the appropriate warehouses.
As more of your items are sold, it might be difficult to keep track of your inventory. You might want to think about adopting the ByteStand software, which works in combination with Amazon to assist manage your inventory.
It is highly suggested that you learn how to operate an Amazon FBA business in order to have a solid grasp of how to sell on Amazon. We have compiled a list of the top Amazon FBA courses in order to save you time and money so that you can get started more quickly. This will allow you to avoid the need to study everything on your own.
10. Affiliates Marketing
Affiliate marketing is the best place to start, especially when you consider the fact that the Affiliate Marketing industry is projected to grow annually by a total of 10.1 percent between the years 2015 and 2020, and is expected to become an estimated $6.8 billion industry by the end of that time period.
First things first: before we go in and take a more in-depth look at affiliate marketing, let’s clarify what affiliate marketing actually is.
Affiliate marketing entails becoming an affiliate for an internet business in order to promote that business. You advocate for their goods and direct potential clients in their direction. You will get a commission for each and every purchase that the buyer makes.
While you are still actively employed, you may still make money using this method to supplement your income.
The Nurse Entrepreneur Network is one example of an affiliate network that you might advertise if your business is focused on the nursing specialty.
The mission of the Nurse Entrepreneur Network is to provide assistance to registered nurses who wish to launch their own companies. The platform provides all of the necessary resources, including tools, training, and a network, to provide you the assistance you need to produce your own revenue as a nurse.
In addition to that, you can participate in their affiliate program in order to earn income by referring new customers to them.
You have the potential to earn a commission of up to forty percent for each individual that you refer who subsequently purchases a membership. You have the potential to earn a commission of up to forty percent on sales made by consumers that you have referred to them.
Now, let’s take a look at some of the benefits and drawbacks of affiliate marketing:
Advantages.
Low initial investment required.
You are in charge of your own working hours.
Passive income.
Flexibility.
No expert skills necessary.
There is no follow-up care for customers.
Disadvantages.
Lack of control over the conditions of the affiliate program and the manner in which commissions are structured
There is no assurance on the level of income.
It may take some time.
Competition in areas with a high level of it.
Need a lot of one’s own self-control.
Important Factors That Must Be Considered
Because of the performance-based nature of affiliate marketing, you will need to exercise self-discipline. Because you are handling everything on your own, you will need to devise a plan that includes a timeline for reaching your objectives in order to make any headway. It might be beneficial to identify someone to whom you can be accountable in order to assist you in maintaining your goals.
You won’t be able to develop a successful affiliate marketing business overnight, so you need get yourself mentally prepared to remain in it for the long haul. Building up your internet business to the point where you can start making a living wage from it will take some time. Maintain your composure, show your dedication, and keep going; your efforts will pay off in the end.
You can discover a selection of highly regarded affiliate marketing courses right here, so you can get started learning as much as you can about affiliate marketing right now.
The Perfect Foundation to Build Your Affiliate Marketing Career Upon.
As an experienced Internet entrepreneur who has been successful in creating many businesses with six figures in revenue, I would suggest that doing affiliate marketing with blogging is a company that can be started by anyone.
Why? Because there is no requirement for upfront money and it may be done as a part-time job.
Through the use of affiliate marketing, you are able to practically operate your business at no expense and without the hassle of having to source items or manage inventory.
It may also save you a lot of time because you won’t have to spend hours upon hours selling items over the phone as you would otherwise have to.
The most essential benefit is that it enables you to continue to get a regular flow of passive income even while you are away on vacation or working full-time.
Warren Buffet is credited with having remarked, “If you don’t discover a method to create money while you sleep, you will work until the day you die.
Beginning a career in affiliate marketing is the first step in realizing your dream of earning money even while you snooze.
Because there is so much unpredictability in the world, I believe the best strategy for a firm is one that involves the least amount of risk.
But How Much Money Is Possible to Make Through Affiliate Marketing?
One of the students, who is 21 years old and is enrolled in the number one training platform that I recommend for affiliate marketing, was able to make $100K in just one week, which means that he made more than $14,000 each and every day…all while utilizing free traffic methods and affiliate marketing.
More than 15 years have passed since the founding of Wealthy Affiliate, during which time a great number of members have achieved financial success.
You may join up for the Wealthy Affiliate starting membership right here if you’re interested in learning more about the platform (no credit card required). You have the option to sign up for free membership, which has no associated time commitment.
You will also get instant access to the forum, live chat, over 500 training modules, two classrooms, networking opportunities, as well as the ability to design one free website and use the keyword tool when you become a starting member.
You won’t have to spend a dime to take advantage of all of these incredible offers.
As a result, I cannot stress enough how important it is for you to sign up for a free account and check it out for yourself.
Later on, you will be able to upgrade to the Premium Membership if you decide that you would like to produce passive income and establish an affiliate marketing business that generates six figures.
After that, you will have unfettered access to everything and there will be no further restrictions.
