How to Make Money Without a Degree: The Basics

A graduate student wearing a blue robe

If you did not yet graduate from college or if you do not even think about applying, you can learn how to make money without a degree. In fact, the world of business gives us loads of examples of successful and wealthy people who developed their own business without a degree. They became famous entrepreneurs who reached to develop even more after college.

Statistics indicate that just 46% of college students finish their degree. Research also indicates that college graduates with ages between 25 and 32 earn $17,500 more every year compared to their counterparts who do not have a degree. Therefore, this encourages everyone with a formal education to value their training. However, it also does not diminish the chances and wealth potential of non-degree holders.

Many successful entrepreneurs who started out from the bottom and did not inherit a huge business claim that work experience and smart ideas overcome education. All you need to pave your way to success is to be determined, to think big, work hard and follow your dreams. In what follows, we will provide a list of ways one can make money without a degree.

Invest in real estate

If you have enough up-front capital, you can surely start your rental-property business. Even if you might not know how to successfully manage a property, you can always try to become part of a commercial real estate via crowd-funding opportunities. In this way, crowdfunding sites may offer you access to commercial property developments.

Develop a service business

Usually, starting a service business is the easiest. You do not need a website or too many contacts to get started. You will just need a valuable skill for which people are ready to pay. For instance, social media consulting, web design and content marketing are some of the places to start.

However, you should know that you won’t earn too much if you bill for one service at a time or charge by the hour. To boost your profit, make sure you pair your service packages together, focusing on value.

A man holding a key in his left hand and a plastic house in the right hand

If you want to learn how to earn money without a degree, you can always try to develop a real state business.

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Rent your things

Several rental companies started with only one person who rented out their equipment such as office furniture or power tools. To get some inspiration, you should use the internet to search what people usually rent and then get creative. You can consider renting your vehicle, your house or birthday-party-character costumes.

 

Provide consulting services

Instead of just offering to train bookkeepers by the hour, dare to dream big. You can position yourself as a consultant instead. Therefore, you will make a profit by sharing advice. You can choose from fields like lean management to accounting. You should think about the toughest points and how you can develop ways to help others solve their businesses’ biggest issues.

Usually, consultants enjoy a flexible schedule, being independent contractors who can work with businesses for the long term or by the day. Even if consultants do not need a college degree, they may receive benefits if they earn certifications with the tools they recommend. Furthermore, as a consultant, you will also need in-depth industry knowledge.

 

Summing up

All these ideas can help anyone start out a new job, learning how to make money without a degree. You need to be confident and believe in yourself and your skills to show others that you can help them through your work. Be creative and find out what people are interested in to offer them what they really need.

Image Source: Money Crashers

Author: Amanda Knowles

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