Thanks to being plugged in 24/7, there’s no shortage of work from home opportunities. While these are great if you want to earn multiple streams of income, not all of them will become a million-dollar business.That’s not to say it’s impossible. Plenty of successful businesses like Apple, HP, Google, Mattel, Nike, Yankee Candle, and Harley Davidson started at home. And, if can happen to you if you pick the right business and have a little patience. Here are twelve work from home jobs that can make you a millionaire in a decade or less.
1. Create a product.
What’s a problem that you face daily? Is there a way to resolve this struggle? You could start a business revolved around creating a product to solve this problem.
That’s exactly what Kelly Lester, a stay-at-home mom, did. She was looking for a quick and easy way to pack her children’s lunches. Then the lightbulb turned on.
She took the concept of “bento” boxes, a Japanese style of food packing, and came-up with a million-plus lunchbox business.
For this work from home job, if you’re concerned about getting the product manufactured, you could source this project to Alibaba.
2. Set up your own online shop.
If you’re familiar in a specific niche, or just have good eyes and ears on what people want, you can start your own online shop as a work from home job. For example, you could make handmade products and selling them on sites like Etsy, like Alicia Shaffer did with ThreeBirdNest.
And yet one other option would be through drop shipping. It’s what BeerCapMaps.com did. They sell some of their maps for $80. However, they can be shipped from AliExpress for just $20. If you spent $20 on ads to make each sale, the net profits would be $40 on each map.
The best part of drop shipping is that you don’t have to worry about anything other than marketing. This is because the product is directly shipped from the manufacturer to the customer.
3. Invest in real estate.
Julie Broad and her husband purchased their first income property for $16,000. Seven years the couple retired at the age of 31 as a millionaire.
“If you have $16,000 to invest (which is what I started with seven years ago), you can buy $16,000 worth of stocks and bonds,” she wrote at MyWifeQuitHerJob.com.
“But, if you buy real estate, you can buy a property worth $160,000 (which is exactly what I did). If your stocks go up in value by 5 percent, you’ve made $800. But if your property goes up by five percent you’ve made $8,000!”
You can make money off the property from rents, appreciation, and equity gains from tenant’s rent helping to pay down your mortgage.
4. Scale your existing skills.
What are your strengths? Jot them down and then use technology to scale those skills.
For example, Rachel Charlupski scaled her babysitting business into a network that of over 1,500 babysitters by using mobile phones. Dan Mezheritsky, a personal trainer, offered in-home personal training and business franchising. He also built a customized software to automate many functions for his business.
5. Become a YouTube personality.
Obviously there’s no better platform to become a millionaire then the internet. But of the way to profit online, becoming a YouTube personality is arguably the most fun.
For instance, Bajan Canadian’s YouTube channel has over 3,500 videos. The content? Him mostly playing Minecraft. As a result, he’s garnered over 1.6 billion views, which could be worth more than $4 million.
6. Self-publish eBooks.
After setting up an account for free, you can start selling Kindle books on Amazon’s ebook platform as soon as this week.
And, if you’re not that creative, you don’t even have to write your own books. You can actually publish other people’s books, like what Bob Mayer and Jen Talty, did. They claim that they “built a seven-figure Indie publishing house in just two years.”
7. Create an online course.
Remember all those skills you possess? You can also put them to work by teaching others how to use them.
John Azzi and Eliot Arntz, for example, made over $1 million in 2014 after creating a course on iOS 8 app development and the new Swift programming language. In fact, the top 10 instructors on Udemy made $17 million between them in just one year!
8. Rent stuff out.
Are you the hostess (or host) with the mostest? If so, then you can turn that extra space in your home, or your second home, into a million bucks. Daren from London claims he’s made $100,000 via Airbnb while Jeff from Paris says he’s made $90,000.
If you’re making six-figures renting space out on Airbnb, it’s possible to become a millionaire in under a decade. The key with these work from home jobs is that the rental needs to be rented year-round and is located in a top-rated Airbnb destination.
Even if you don’t rent space on Airbnb, you could rent out other items, such as your car, parking space, or household items. If you have to space to store everything in your home, you could also start your own party rental business.
9. Trade stocks.
Although risky, the Securities and Exchange Commission even warns that “investors in penny stocks should be prepared for the possibility that they may lose their whole investment.” It’s completely possible to take a couple of thousand dollars, start trading penny stocks, and earn a million bucks.
That’s exactly how Tim Grittani became a millionaire in just three years after following the success of Tim Sykes.
10. Affiliate marketing.
Affiliate marketing has become one of the most popular work from home jobs. It’s easy to understand why. Just purchase a domain and start blogging away.
Once you start getting some traffic you can earn cash from selling ad space on your blog. It may not be a lot to start, but you’re working towards something bigger. Eventually, you can start making a lot of money by writing sponsored posts and affiliate marketing.
For example, Michelle Schroeder-Gardner started blogging in 2011 as a hobby. Today her blog, Making Sense of Cents, is earning $50,000 a month through affiliate marketing. She’s able to do this by actively promoting 15-20 companies and teaching an affiliate marketing course.
11. Buy and sell domain names.
Do you have a knack for spotting popular, yet undiscovered, domain names? If so, you start making some cash on the side by buying and reselling websites.
In a way, these work from home jobs are like digital real estate speculation. Domains are available on GoDaddy.com for as little as $2.99 per year. Or, you could purchase an existing site on Flippa — and then sell it on the site down the road.
If you put in the effort, these sites go on to sell at far higher prices. According to Business Insider, the site MM.com sold for a cool $1.2 million dollars in 2014. This is also how I built the Due brand.
12. Invent your own way to make money.
If you’re not interested in any of the work from home jobs listed above, then think outside the box and find your own way to make millions. If you think this is impossible, then check out this list of weird business ideas from the Penny Hoarder.
But, one of my all-time favorites is the story of Cheung Yan. She collected cardboard here in the U.S. and shipped it to the China to be recycled. Today, she’s worth over $2 billion.