Is It Possible To Make Money Without Having To Work For It?

Many work in what is called the "gig economy" where they are able to set their own hours and decide when they will work. These days, you can make money for doing jobs such as driving for a rideshare company, selling on Amazon, or even being a Lyft driver. It may seem easy to do from the outside but there are plenty of pitfalls that people shouldn't be daunted by before making themselves comfortable with it.

At the end of the day, you are essentially trading hours for cash. That is something that anybody can do. However, in these types of jobs there are certain things that people have to look out for before taking a job like this to get going.

What Are The Downsides?

The biggest issue to look out for is the amount of hours that you can work before being eligible to receive benefits from your employer. Some companies have rules on how many hours they allow drivers to work before having a schedule change. If you want all your options open, you want to keep an eye out for things like this so that you don't run into trouble with lost pay or benefits if something happens.

Another thing that you need to be aware of is the amount of money that you will actually make per hour. If you are doing this as a side job it might not seem like it's worth your time unless you can make more per hour than working at a traditional job. For example, if the average Uber driver earns $11 an hour that is $22,880 each year. Uber takes roughly 30% of this and then the driver has to pay taxes on top of that leaving very little left over depending on where they live. That ends up being around $15-16 per hour which is lower than minimum wage in many states including New York and Illinois (the podcast Freakonomics had an interesting episode about this subject).

How Do You Get There?

The way to start making more money is to recruit drivers and get them on your platform. This will not only make you money but it will also give other drivers a chance to earn more as well. Again, you don't want to force people into this because that is not the point of this as most people have a full-time job and simply need an extra income.

The key to getting to where you want is always looking for new ways to grow your business and marketing yourself so that you can bring in new clients as well. The only thing that matters is having the number of drivers that are willing to join your company. If you want to learn more about this, you can visit this website where you can sign up for a free training that will teach you everything you need to know about new apps like Luxe which will help your business grow.

SOURCES: https://www.entrepreneur.com/article/307119

Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family, watching documentaries on Netflix or above average sitcoms on CBS. Visit her personal blog hollylovessaves.wordpress.com or follow her on twitter @HollyTaylorLov

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Category: Blog Post, Business, Economy and Finance, Employment, Entrepreneurship & Small Business, Personal Finance, Taxes Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family,... Continue reading...

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Category: Blog Post, Economy & Finance Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family, watching documentaries on Netflix or above average sitcoms on CBS. Visit her... Continue reading...

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Category: Blog Post, Economy & Finance Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family, watching documentaries on Netflix or above average sitcoms on CBS. Visit her personal blog hollylovessaves.wordpress.com or follow her on twitter @HollyTaylorLov

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Category: Blog Post, Economy & Finance Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family, watching documentaries on Netflix or above average sitcoms on CBS. Visit her personal blog hollylovessaves.wordpress.com or follow her on twitter @HollyTaylorLov

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Category: Blog Post, Economy & Finance Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family, watching documentaries on Netflix or above average sitcoms on CBS. Visit her personal blog hollylovessaves.wordpress.com or follow her on twitter @HollyTaylorLov

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Category: Blog Post, Business, Economy and Finance, Entrepreneurship & Small Business Written by Holly Taylor Holly is a freelance writer and blogger with an interest in technology, social media, and personal finance. From time-to-time she finds something interesting or fun to share with the world. In her spare time, she loves hanging out with friends and family,... Continue reading...

Conclusion

As of December 2017, there are over 5 million businesses on the Uber platform. This is an incredible business model as it gives people a chance to earn money in their spare time or even create a full-time income if that is something they are interested in. The business model is constantly growing and adding different services that make it easier for people to make money.

The amount of money you will make will depend on how many clients you can get and effectively market your business to them. That's why it's important to start building your platform early so that you have time to both grow your customer base and figure out ways to be a more profitable company.