Are you a Journalist and you are seeking a source of extra income in 2020? Do you need a business you can do part time while still keeping your day job? Then below are the top ten small business ideas for Journalists.
All over the world, journalism is a becoming highly competitive career; and the job security for which the profession has been known is dwindling fast. In 2009, about 20,000 journalism jobs were lost in the US alone; 4,000 in the uk. Yet the number of young people applying for journalism professions and training courses keeps escalating.
So, one major problem haunting journalism is that there are too many journalists but no enough jobs to go round. And in order to survive, smart journalists need to develop an entrepreneurial mindset; they need to think differently and open up additional streams of income. So without your time, below are 10 small business ideas that journalists can explore in order to make more income.
Top 10 Small Home Business ideas for Journalists in 2020
As a journalist, you are a wordsmith; and chances are you have a strong ability to write content that engages people. You can make money off of this by starting a blog around any topic that interests you. First, focus on building a large audience and offering valuable information that solves people’s problems and answers their questions.
Once you are able to establish yourself as an expert or authority, then you will start making money, and there’s no limit to the profit you can make in the long term.
Ghostwriting involves crafting a piece of writing on behalf of a client, in whose name the piece is published eventually. Many people have good story ideas but are not good with using words. Such people, in a bid to have their stories published, would rather pay a seasoned writer to write for them. You can make a lot of money ghostwriting novels, ebooks, textbooks, and so on.
Since you have a very good background in journalism itself, you can make money by imparting your knowledge on others. In a bid to hone their writing skills, many aspiring writers are always happy to enroll for journalism courses, especially e-courses. You too can start a journalism or writing course for aspiring writers. If you really have much to offer, you will always attract students; and you will always make money, too.
In addition to your day job as a journalist, you can make money off of your free time by writing articles for magazines and newspapers. However, your success at this would boil down to your ability to come up with great, publication-worthy story and topic ideas. Many publications pay as much as $1 per word to writers who send them impressive pieces of writing. So, start pitching as many editors as you can, and start making extra cash.
Another good business idea for journalists is to go independent. There are many options to consider: a local newspaper, a weekly report on a particular industry, or something else that will be of interest to your target audience. Though you will need to involve more hands in order to succeed at this, you will make a lot of money on the long term.
Many small businesses spring up every day, and one of the most challenging tasks startup owners are faced with is crafting a compelling business plan that impresses and attracts investors. Being a wordsmith, you can make a lot of money by helping them meet this need.
A resume can make or mar a job seeker’s chances of getting a job. In fact, many job applicants blow up their chances because they cannot write compelling resumes. If this is something you are good at, why not start writing resumes for cash? Many job seekers out there would be glad to hire your services in order to boost their chances of employment.
8. Speech-writing service
Everyone likes to deliver impressive and influential speeches. But ironically, not everyone is good at crafting them. You can take advantage of this fact by rendering speech-writing services to dignitaries and celebrities.
9. TV shows
As a journalist, you are not only good at writing; you are good at speaking, too. A smart way to convert your oral skills into cool cash is to start a TV or radio show that would have a strong impact on people. It could be an enlightenment show or an entertainment show. You could just be the next Oprah Winfrey. Who knows?
10. Translation service
If you understand two or more languages, then you have got a real money-spinner. Most businesses, as a way of reaching out to a global audience, require translators to help them convey their messages to prospects who speak foreign languages. Such businesses would be glad to hire you.