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Tap Into Your Purpose and Earning Potential By Starting a Consulting Business Today

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The gig economy is gaining momentum as more and more Americans figure out that they don’t have to spend their lives working 9 to 5 for someone else.

In fact, some people estimate that by 2020, 43 percent of people will work as a freelancer. And that includes those who start a consulting business.

But before you take the leap, you need to learn about the basics of starting a consulting business.

In other words:

To have the best chance of success, you need to do some research, plan for your business, and start out the right way.

Let’s get started, shall we?

What Is a Consulting Business?

A consulting business is a place people go to get answers to their problems. That’s why many people call consultants problem solvers.

Here’s an example:

A large corporation wants to expand overseas, but its current staff doesn’t have the knowledge to suggest a plan. So the corporation hires a consultant with expertise in overseas expansion.

But don’t worry if you don’t have that kind of experience.

Consultants consult on a wide variety of topics and in a lot of industries.

Here’s another example:

A person wants to lose weight, but can’t figure out the best diet plan for them. So they hire a diet consultant to create a customized plan for them and help them lose weight.

In other words, a consultant is a problem solver in a specific area.

Why start a consulting business?

If you want to start a business, a consulting business is one of the easiest to start because you don’t need a lot of money or equipment to get started.

Here are some of the key reasons why starting a consulting business might be a great move for you.

It’s not complicated

When you start a product-based business, you have to create a prototype of it, find suppliers, or sign up with a drop shipper.

And you may have to create a corporate business structure which can take weeks to finalize.

On the other hand:

When you open a consulting business, you are the product.

And if you want to operate as a sole proprietor, you won’t have to complete any paperwork (or pay any fees!) to get your business off the ground.

In other words, you already have the basics of what you need to start: you.

Did You Know?

The worldwide consultant business is a $133 billion industry. Will you claim your piece of the pie?

A consulting business is a lean startup

You won’t have to spend a lot of money to start your consulting business.

Aside from your number one asset — you — all you need is a computer, a phone, and perhaps some accounting or project management software.

And in the initial stages, you can use freeware to keep your costs to zero.

You can build connections

As a consultant, you will talk to many people in your industry. And as you build relationships with them, you will make connections in the industry.

And who knows?

Maybe one of those connections will turn out to boost your consulting career or launch you on a new path you never imagined.

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What Does a Consultant Do?

We’ve talked about the overall job of a consultant: to solve problems for their customers.

But there’s a little more to the role.

Here are some of the tasks you will do when running a consulting business.

Roles of a Consulting Business Owner infographic

Icons from Flaticon

Types of consulting businesses

At this point, your head may be full of ideas about what type of consulting business you can start.

Don’t tax your brain!

Instead, read about these common types of consulting businesses you can start.

HR consultants

Human resources consultants work with companies to provide support for the hiring, training, managing, and firing of employees.

HR consultants also ensure that the companies they work for stay in compliance with all employment and labor laws.

You can work for a large corporation in this role or for the local mom and pop who need someone to help them manage their employment duties.

Strategy consultant

As a strategy consultant, you work closely with an organization to find a solution to a problem or goal.

For instance, if a company wants to reorganize a department, you would analyze the existing departmental structure and suggest ways to improve or streamline it.

Technology consultant

When a company wants to install a new software program or scale their existing platform, a technology consultant works with them to help implement it.

For instance, a company may decide to revamp their current paper trail and use technology to update it.

It would be your job to analyze their current practices and move them to the proper technological solution.

Did You Know?

Half of all freelancers, and that includes independent consultants, say that no amount of money would ever convince them to go back to a 9 to 5 job.

Public relations consultant

A PR consultant creates and then implements the public relations face of a company.

Working in this role, you would interact with the public, partners, investors, and employees to build the brand and shape how people think about the company.

Legal consultant

In this type of consulting business, you would act as a legal consultant for an organization or person.

Depending on your specialty, you may advise them about the legalities of employment, banking, finance, corporate, tax, real estate, intellectual property, information technology, or trust.

You need a law degree to operate as a legal consultant.

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IT consultant

This role is different than a technology consultant because instead of helping a client implement a program, the IT consultant recommends which program to purchase.

For example, if your client wanted to move a large website to a new server, you would recommend the tools and procedures to best enable them to do it.

Social media consultant

In this role, you will help build the company’s brand with their social media platforms.

You will be responsible for increasing traffic to their website and followers to their social media platforms.

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Financial consultants

You will need a license to open this type of consulting business.

Financial consultants advise their clients about investments, market trends, taxes, and other economic considerations.

Personal consultant

The consultant types we listed above are the most common when it comes to selling consulting services to a business.

But personal consulting is another huge industry with ordinary people paying others to teach them how to do all sorts of things.

For instance, you could offer consulting services for nutrition, pets, small business startups, publishing, and just about anything else you can think of.

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The Numbers Game

Even though the consulting business is booming, you still need to know what kind of growth and earning potential you can expect.

Here are some facts:

Consulting Business Facts and Figures

  • US-based consultants make about $75,000 a year
  • Management consulting is a $250 billion a year industry.
  • There are 600,000 management consultants in the US

What do you need to start a consulting business?

For instance:

To open a consulting business that specializes in accounting or financial matters, you need a certification or license.

And other forms of consulting may not require certification, but your clients may expect it.

For example, you can open a nutritional consulting business without a degree or certification, but if you have a degree in nutrition, you will have more credibility with future customers.

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Pros and Cons of Starting a Consulting Business

As with any type of business venture, a consulting business has its pros and cons.

Here’s what you should know before you hang your proverbial shingle.

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Pros

Let's start with the positives of starting a consulting business:

You'll have an unlimited client base

As a consultant, you are only limited by how many clients you can reach.

Think about it:

If you’re opening a consulting business for dieters, how many dieters are potential customers?

Lots.

And that’s true for whatever niche you decide to pursue.

You can work from home

When running a consulting business, you get to decide where you will work from.

Sure, you can rent a fancy downtown office and spend a lot of money, or you can work from home and not only save money but have the luxury of staying close to family.

And just think of the commute.

Did You Know?

When you work from an office in your home, your commute consists of walking down the hallway into your office. Not bad, huh?

You'll have minimal startup costs

Because you don’t need a lot of fancy equipment, you can start a consulting business on a shoestring.

You won't have to deal with office politics

You know all those petty office politics you’re so sick of?

When you work for yourself, all of that magically disappears.

it's magical snippet

Photo from Giphy

You get to help people

Imagine having a job where you get to help people achieve their goals all day.

That’s the life of a consultant!

Cons

Opening a consulting business also comes with a few cons.

Here are a few to consider:

It takes a lot to get off the ground

You will have to market your business and work hard to get every client, especially in the beginning.

Eventually, word of mouth will drive business, but in the beginning, it’s all up to you to sell yourself.

Your clients will expect a lot

When starting a consulting business, be honest about your skills and knowledge because the people who hire you will expect a lot.

Bottom line:

If you can’t help them or give them bad advice, it could hurt your reputation.

That means you will have to stay on top of your game by keeping up with advancements and developments in your niche.

Your personal life might suffer

When working as a consultant, clients will demand a lot of you.

They may want to schedule conference calls during your family’s dinner or on the weekend. That can result in strained family relationships and a lack of time to do the things you really want to.

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Consulting Business Pros and Cons

PROS

  • You get to do good in the world
  • You can work from where you want to
  • You’ll have an unlimited client base
  • Low startup costs
  • Can open corporate opportunities
  • No office politics

CONS

  • Building your client base might be a struggle in the beginning
  • You must live up to your client’s expectations
  • Very competitive
  • Need to stay on top of your game
  • Difficult to achieve a work-life balance

A Step-by-Step Guide to Starting a Consulting Business

Are you convinced that starting a consulting business is right for you?

If so, you need a plan.

Follow along and learn about the specific steps you need to take to open a consulting business.

Assess your strengths

Remember in the section above how we told you that your clients will expect a lot from you?

It’s true.

And that’s why it’s essential that you do an in-depth assessment of your skills and knowledge before taking the first step.

You will hire yourself out as an expert — and you should have the skills and knowledge to back that up.

For example, if you work in the financial industry during the day as an investment adviser and want to moonlight as an investment consultant, that gives you credibility.

But if you work at an investment firm as the social media manager?

Not so much.

Make sure you have what it takes to back up your claims, or you could have some pretty unhappy clients on your hands.

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Ensure your certifications and licenses are in order

If you need a license or certificate to operate your business, now is the time to get it.

And even if you aren’t required to have them, taking some certification classes or getting licensed in the industry you plan to operate in won’t hurt.

But that's not all:

You should also register your business name with the county you live in, and apply for a tax ID number so you can charge and remit taxes to your local authorities.

Create your short-term and long-term goals

Knowing your goals in advance will go a long way in your success as a business or personal consultant.

For example, will you work from home for your entire career, or do you plan to have an office one day?

Once you know your goals, it’s time to write a business plan.

Did You Know?

You can create a one-page business plan, a lean business plan, or go all out and make projections for the next five years. But having a plan is key, so don’t skip this step.

Determine what the market needs

You need to put some deep thought and research into this area because it may make the difference between success and failure.

You already know that a consulting business helps people solve problems, but it’s how you look at it that can make you a success.

Here’s what I mean:

Your clients will be people who either desire something they can’t figure out how to get or don’t want to figure out how to get it.

And that’s where you come in.

As a consultant, it’s your job to get them from their present state to the state they want to be in. That state could look like any of these:

  • A novice gardener who wants advice on how to build a kitchen garden
  • An entrepreneur who is about to launch their first business and wants a consultant’s advice along the way
  • A growing firm who wants a consultant to help them hire their first manager
  • A mom who wants a consultant to guide them in homeschooling

The common theme in all of these examples is that they are at point A and want to get to point B. And it’s your job to convince them that you’re the right person to get them there.

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Identify your target audience

Will you work with mainly corporate clients, or will you reach out to consumers and build your business that way?

You need to determine your niche, and then decide how you will approach them.

For instance, if HR consulting is your niche, you can either work with individuals to help them find the right career, or you can work with corporations to help them staff and manage their employees.

Write an elevator pitch

When people ask you what you do, you should be able to explain it to them succinctly and clearly.

It’s called an elevator pitch, and when starting a consulting business, it’s necessary to have one.

Imagine that you meet someone and when talking to them they tell you about a problem they’re having. Turns out, that’s exactly the type of problem you solve in your business.

How will you get that across to them?

You should be able to tell someone exactly what you do in under 30 seconds.

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Set up client communication and recruitment tools

When you operate as a consultant, you need to have some tools that will allow you to communicate with your clients.

For instance, you will need a video conferencing platform to conduct those calls on. You can use a free version, or if you feel the need, you can invest in one.

You will also need a way to get the word out about your business.

And aside from the marketing techniques we’ll talk about in a minute, you should take some time to set up your resume and qualifications on sites like Zip Recruiter, UpWork, and LinkedIn, Indeed, and Monster.

Staff up or outsource

You may not need to hire an employee if you plan to work from a home office, but a virtual assistant can save the day.

For example:

If you specialize in HR consulting for individuals, you can assign the tedious tasks that take a long time to the assistant and then deal with the client yourself.

Did You Know?

Virtual assistants can perform just about any task and will free up some time for you so you can put your energy into searching for new business and client interactions.

Market your business

In order to build a successful consulting business, you need to sell your services to as many people as you can.

And that means you need to get inventive with how you get new business.

Here are five ways to let people know about your services:

Create a brochure

Sometimes people won’t know that they need your services until you tell them what you do.

And one of the best ways to do that is to create a brochure that highlights all of the important aspects of your consulting business.

Here are some key points to include on your brochures:

  • List a few reasons why they should hire you
  • Explain to people why you are the best choice
  • A growing firm who wants a consultant to help them hire their first manager
  • Let customers know what you do in simple, easy-to-understand terms
  • Include some biographical information about yourself to lend credibility to your business
  • Talk about the clients you have worked for, and how you helped them achieve their goals

Do some cold calling

You want to skip this section, don’t you? Be honest.

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Photo from Giphy

But the truth is that is you’re going to become a successful consultant, you will need to make some cold calls until you get your business off the ground.

But it doesn’t have to be that hard.

Here are some tips to make the process easier:

Your first step is to write out a script, and use it until you get comfortable with the process.

Over time, you will become more comfortable telling people about your consulting business and why they should hire you, but in the beginning, it can be a little intimidating.

A written script will help ease your nerves.

Next, you should limit the number of days you do cold calls, so you don’t become overwhelmed with it.

You will face rejection — that’s just a fact. But you will also have some successes.

Concentrate on the successes and consider cold calling days a reward for all the hard work you’ve done all week.

Or you could just do this:

Advertise your business

In order to attract new business, you should plan to run some advertising. How much you run will depend on your budget, so you will have to plan for it carefully.

You can run ads in trade magazines associated with your business, or if you plan to open a personal consulting business, in the local newspaper or on Facebook groups.

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Create email lists and newsletters

As a business owner, you should collect email address and use them to communicate with potential clients via a newsletter.

You will have to offer potential subscribers something in exchange for their email address — like a free report or analysis of some kind.

But the key is to build a large email list of people who might be interested in your consulting services and then stay in contact with them.

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Engage in public speaking or free classes

Another great way to bring in new clients is to act as the featured speaker at an event that ties into your industry.

For example:

Our gardening consultant could give a lecture to beginner gardeners about the importance of planning a garden before planting.

Or the HR consultant could give a speech about how to make the best use of LinkedIn for an audience of small business owners.

Check with your local chamber of commerce or look online for events and then call and ask about speaking.

Another way you can attract this type of customer is to offer free classes about your topic. You can do this in person if you want to attract local clients, or online if your audience is larger.

Ask for referrals

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Referral business is the best kind because the customer already trusts you. Chances are that if you get a new client that was referred by another one, it’s because they were so happy with your service that they had to tell someone.

But they don’t always remember to pass along your name.

That’s why you should remind them.

Every time you complete a contract with a client, send them an email asking them to pass along your name. And some consultants even offer to pay a referral fee for new business to encourage the behavior.

Learn to write client proposals

Once you’ve had a conversation with a potential client, and they’ve told you they want to pursue a consulting relationship with you, you need to prepare a client proposal.

Did You Know?

A lot of consultants send a potential client a proposal before they’ve made the sale, and that results in a waste of time for everyone. You should only submit a client proposal once they’ve agreed to work with you.”

Here are some tips to ensure your client proposal is as good as it can be.

Focus on the buyer

You should have already sold the client on your consulting business, so there is no need to rehash all of your accolades.

Instead, the proposal should focus on the client.

Reiterate that you understand the problem, and assure them that you have the skills and knowledge to overcome it.

A good client proposal doesn’t need to be long, but rather a succinct reiteration of their problem and your solution.

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Don’t add new information

If you do, and it confuses the buyer, they may not sign it. They may put it aside to get clarification and then get caught up in life.

Just stick to the facts that you discussed when you told them about your business and what you could do for them.

Structure it right

Your client proposal should follow a logical format that is easy to read.

Here is an example outline of a client proposal.

Example Format for a Client Proposal:

  • Summary: summarize the client’s problem and recap what you spoke about
  • Goals: list the benefits they will receive by working with you and highlight the impact those benefits will have on them
  • Project details: outline the project duration
  • Responsibilities: list what you will provide as well as any expectations of what the buyer will provide
  • Investment: include your price and any offers to the buyer here
  • Terms: this section outlines how the buyer will pay, including details about invoicing, expenses, and travel

Set your pricing

Setting the right price is essential to a consulting business that grows.

If you price your services too low, no one will take you seriously. And if you set them too high, many people will refuse to hire you.

So how do you set your fees to successfully grow your consulting business?

Start by looking at the averages earned by people already in the business. Consulting Success reached out to 25,000 consultants in an effort to understand their pricing structures.

They determined that most consultants billed in one of these five ways:

  • Hourly (27.3 percent)
  • Per-project (34.2 percent)
  • Monthly retainer (15.1 percent)
  • Daily rate (14.1 percent)
  • Other (9.3 percent)

Did You Know?

In the Consulting Success study, 25.5 percent of consultants say they earn an 80 percent or better profit margin.  Can you imagine any other business with that high of a margin?

How do you know which method to use — and how much to ask for?

By following these tips:

1. Check out your competition

Chances are, your competition is already established and has figured out how much the market will bear. It’s a good idea to shop around with your competitors before setting your rates.

Start by visiting their websites and looking for pricing. If they don’t publicize it, you will have to mystery shop to get the rates.

Then compare apples to apples:

Can you offer the same services to clients that they do? Do you offer anything that would increase the value?

Once you know what your competition is charging, you need to set your rate. You can do this on a per-project basis or an hourly one.

Here’s how to figure each one.

Set an hourly rate

To set an hourly rate, you first need to decide what yearly salary you want to earn. For this example, we’ll use an annual salary of $100,000.

Next, divide your desired salary by 52, which is the number of weeks in a year. For our example, that would be $100,000 / 52 = $1,923.08. That’s how much you need to earn a week.

Now divide that by 40 (hours in a work week) $1,923.08 / 40 = $96.15. That’s how much you need to bill per hour in order to meet your goal.

But wait, you’re not done!

You also have expenses and cost of business to include in your calculations.

To do that, you should add 25 to 40 percent to the rate. That means you should charge $134.62 per hour to meet your goal. (96.15 + 40% = $134.62)

To set a per-project rate

If you don’t want to have to track your time, you can charge by the project, but you should be careful when quoting the price.

That’s because project creep can come in and quickly wipe away all of your projects.

For example:

If a client hired you to create a healthy eating plan for them, you may have estimated 10 hours, but then they asked you to include a workout plan which added another 5 hours to the project.

Unless you specify in your proposal that you would bill them for additions to the project scope, you would be out some money.

To bill by the project, you need to calculate how many hours you believe it would take to complete the project, and then multiply that times your hourly rate.

Be sure to add 10 to 15 percent on top of that to account for any contingencies you didn’t expect.

To set a retainer rate

You should set your retainer rate the same way you do your per-project fee, but some consultants give clients a discount when they pay a monthly retainer fee.

You should determine whether you want to extend a discount based on your interactions with the client.

Build a reputation and deliver results

Now all that’s left to do is to build your consulting business brand and earn a reputation for always delivering what you promise.

Before long, you won’t have to ask for referral business because your happy clients will tell everyone about the wonderful experience they had working with you.

Tips and Tricks of Successful Consultants

Finally, we want to leave you with a few tips and tricks that you help make your consulting business a success.

What do you need to start a consulting business?

Don’t just play at consulting.

Instead, create a website, make business cards and take it seriously.

It’s possible to build a great income by starting a consulting business, but only if you treat it like the serious endeavor it is.

Embrace your home office

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In the past, people tried to hide the fact that they worked from a home office, but times have changed.

Now you can tout the fact that you don’t have overhead costs to pass on to the client, and because your office is located at home, it means you’re available when they need you.

Did You Know?

You can land your first client before leaving your current job. If you’re a valued member of your organization, offer your consulting services to your boss. It would be a great way for them to fill the gap you’ll leave behind and give you your first client. 

Understand the payment cycle

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If you’re working for large corporations, don’t expect to get paid promptly.

Many corporations pay 30 days or more after they receive an invoice, so you will need to plan on waiting to get paid.

Make sure your reserves can cover the wait.

Never over promise

Any time you make a promise to a client, be sure that you over deliver.

There’s nothing worse than missed deadlines, sloppy work, or underperforming on a contract.

That’s the fastest way to get bad reviews and lose your business.

Know when it’s time to call it quits

You will have some clients that are not worth the hassle.

Clients who love to complain for no reason, who likes to call you at 10 pm, or who make unreasonable demands won’t grow your business.

If you find yourself in a situation where the client causes constant problems, think about politely ending your contract with them.

Are You Ready to Start a Consulting Business?

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A consulting business is one of the easiest and most profitable businesses you can start, but you will have to work to create a business that brings the kind of income you want.

Use our step-by-step guide to think about your new business, and then take the steps needed to make it a reality.

Have you already started a consulting business? If so, we would love to hear your advice about how others can get in the game in the right way. Please spread your wisdom in the comments below!

BX Dividend Stock’s Current Performance: Is It A Good Investment?

stocks flow on monitor

What is a Dividend Stock?

A dividend is a payment a corporation makes to its shareholders—people who have bought stock in the company. A dividend stock, then, is any stock that pays dividends to investors on a regular schedule. Usually, dividends are paid out in cash form, but in some cases, a company will choose to pay dividends in the form of more stocks. Bx Dividend Stocks fall into this description.

Each company can set its own payout schedule, but it's most common for companies to pay dividends on a quarterly basis. Dividends are paid on a per-share basis, so the more shares you own in a company, the larger percentage of the total payout you'll receive.

A dividend “yield” is the amount that experts predict a stock will pay out over the course of the year. The yield is expressed as a percentage of the stock price. Since stock prices fluctuate all the time, so do dividend yields.

Companies typically decide to pay dividends on their stocks to attract more investors. It's also an excellent way to spend excess capital in a way that shareholders approve.

Dividend stocks make good investments for people who are looking to make traditional “buy-and-hold” investments, rather than those who plan to move their money around a lot. Dividend stocks tend to feature good long-term returns.

stocks on monitor

What is BX?

BX is the stock market ticker symbol for the Blackstone Group, a large and influential private equity, asset management, and financial services company based in New York City. The Blackstone Group was founded in 1985, but it went public in 2007 with a $4 billion IPO. They have since become the largest alternative investment firm in the world.

What to Look for in a Dividend Stock

When looking for a potential investment, the first thing you should consider is consistency. Has the company's dividend yield stayed relatively stable over the years? You may think that huge growth is a positive feature, but that usually leads to a bubble, meaning that yield will come crashing down shortly. If this is a long-term investment, a steady dividend yield is what you want.

Obviously, the stock’s overall valuation is important, because your dividend payments will be a percentage of that value.

Stock prices fluctuate all the time, but again, slow and steady is the key thing to look for in the growth of a long-term investment. The performance history and earnings growth should show a gradual increase over the span of several years, rather than dramatic highs and lows on a more short-term basis.

Here are some more questions you should ask your financial advisor, or at least keep in mind as you look for potential investments.

  • Is its annual yield within the top 25% of dividend stocks? If not, you should look for something more lucrative.
  • Has the payout per share increased over time?
  • Are the stock’s earnings large enough to pay the dividend at the current rate?
  • Are its future earnings predicted to cover dividends at the current rate?

With all of that in mind, we can determine which dividend stocks are most likely to provide a stable income for you in the future.

Are BX Dividend Stocks a Good Investment?

This is a complicated question, as we’ve proven in the previous section. To answer it, we’ll go over all of the Blackstone Group’s numbers in detail, and look for answers to the specific questions we asked earlier. First, let’s cover the Blackstone Group’s historical data.

BX Dividend Stock Historical Data

Over the last five years, BX’s annual earnings growth (the increase in what investors earned from the stock) was an average of 25.2%. However, in the last year, their earnings growth was only 3.4%, so it has significantly decreased. (Source: nasdaq)

Blackstone’s dividend per share was volatile over the last decade, with the payouts dropping over 20% in one year. However, the dividend per share has increased overall in that time.

When looking at a potential investment, you want the annual earnings growth and dividend per share to stay relatively stable, with gradual increases over the years. This historical data shows that BX’s earnings growth and dividend per share have fluctuated more than usual, though the payouts are higher now than they were ten years ago.

Now we’ll look at how analysts predict Blackstone’s stock will perform in the future—between one and three years from now.

finance graphic layout

BX Dividend Stock Future Expectations

BX's annual growth in earnings is expected to average out to 17%. While that's significantly higher than it was this past year, it's still lower than what the industry considers "high growth," which is 20%. It's still higher than the market average.

Blackstone’s revenue growth (the increase in a company's earnings) will stay positive at 5.8% but will continue to be below the US market average of 20%. BX’s return on equity—which is essentially a measure of how efficiently they use shareholders’ funds—is expected to be around 38%, which is considered high.

Overall, it looks like Blackstone's dividend payouts will increase over the next few years, though their revenue will be slow to catch up. Typically, you'd want a company's revenue growth to increase at the same rate as their annual earnings growth.

Now we’ll analyze how the Blackstone Group is currently performing.

BX Dividend Stock Current Performance

Let’s start with the negative. As a company, the Blackstone Group is currently able to meet all of its short-term (one year) commitments using its holdings of cash and other short-term assets; however, their current assets would not cover their long-term commitments.

Their level of debt compared to their net worth is much higher than you'd want it to be. A 40% debt to net worth ratio is considered high; Blackstone's debt to net worth rate is a staggering 109%. To put that in perspective, it means their current assets total less than half of the debts they owe.

Blackstone also has a negative operating cash flow, which means they’re spending more than they’re making. Their current dividend payout is 105% of what the stock earns, which means the dividend is not well-covered.

Though it’s not necessarily indicative of how well their stock is doing, we also looked at their CEO’s compensation. Blackstone’s CEO, Steve Schwarzman, currently makes about $47 million per year, which is higher than average for a company of this size and profit level. This could imply that Blackstone is not using their capital wisely.

Now for the positive. The current annual income from BX dividends is 8.39%, which is well above the market average for top dividend payers (3.95%). BX’s dividend yield is expected to drop down to less than 8% over the following months, but the overall earnings per share should still increase because their stock prices are expected to go up.

BX stock prices are lower than usual right now, which means now is an excellent time to invest in them if you are choosing to do so.

man working with stocks

Are BX Dividend Stocks a Good Investment?

Now that we know everything there is to know about Blackstone’s past, present, and future financials, we can determine whether or not it’s a good idea to purchase their dividend stocks.

When we make our recommendations, we’re going to assume that you’re the average investor: middle-class, risk-averse, saving for retirement, and looking for steady growth over a long time.

As we mentioned in the previous section, BX stock prices are abnormally low right now, but they’re expected to go up soon. That might tempt you to throw in your money as quickly as possible, but you should still be cautious.

Blackstone’s dividend stock has not been very consistent. The prices, dividend yield, and overall growth have seen many large spikes and dips over the past decade. Also, the company's current financials are not very strong. Their net worth is significantly lower than their debt, their operating cash flow is negative, and their CEO receives an abnormally large salary.

However, BX’s future outlook is more favorable. They're expected to increase their profits enough that their dividends will be more than covered, their debt to asset ratio should improve, and their stock prices would rise accordingly.

Overall, Blackstone is still one of the top payers of cash dividends, and their dividend yield has increased over the years, though it’s been a bumpy road. They’ve made a lot of investors a lot of money.

With all that said, we do recommend that BX dividend stocks be a part of your investment portfolio, but you’ll need to be cautious and patient. With a stock this volatile, it can be hard not to sell when things get rough, or when prices shoot up unexpectedly.

If you buy your BX dividend stocks and then let them sit, you should see a nice return on your investment, as well as some extra income from quarterly dividends.

Paribus Review 2018 – Easy Way To Generate Wealth from Home

Paribus Review: A vector image of a desktop with shopping bags, and coins

Paribus is an app that helps you save money by claiming refunds on purchases if there is a change in price soon after you bought the item. On this Paribus review, we will dig into more details about what it can and can't do.

While it might seem impossible, today, the reality is that you can make extra money by doing as little as possible. There are plenty of options for earning little extra money online, and even though many of these new extra jobs or part-time gigs may not fetch large sums of money, these smaller amounts do eventually add up and could make a real difference to the way you plan your day-to-day budget. What’s more, they are good ways to supplement your regular income.

While earning little extra money is always a good thing, it is even more important to be smart about the way you spend it. So, not only do you have to learn to spend wisely but you also have to start saving for a rainy day.

As you might have seen by now, saving money can be tough and requires your constant attention. Often, it may even seem like the rewards you reap are not equivalent to the effort you put in. However, the truth is that saving even little extra money is ultimately worth it; you will always have enough resources when you need them.

Now, you might ask, what are some of the easiest ways to save money? How can you save money with little to no effort?  In addition to careful financial planning and taking small and important steps (such as buying the cheapest options possible), there is another way to watch your spending and make sure you’re getting the best deal possible. This is where apps come in. In this article, we will explore one particular app - Paribus. 

Pros

  • No More Coupons
  • It Is Connected to Online Stores
  • You Keep the Entire Refund

Cons

  • It Asks for a Lot of Personal Information
  • It Is Not Available on Android Devices
  • It Is Not Available outside of the U.S.

Overview of Paribus

To start the Paribus review, let's talk what exactly is Paribus. It is an app you can use to save little extra money with minimal effort. To use Paribus, you upload your shopping receipts to the app. If the prices of whatever you bought decreased soon after you bought them, Paribus will work with the companies and help you gain a refund on those items.

Sounds simple, right? In reality, it is even easier than it seems. Once you connect Paribus to your email ID, the app scans your inbox for receipts and alerts you to potential refunds whenever one is possible.

What makes Paribus unique is that it helps its users save money after they have made their purchases, instead of before. This is unlike other coupons and deals where you must avail of these offers at the actual time of the purchase. The fascinating thing about Paribus is that it uses many of the same methods or statistics that companies use to distort prices in the first place.

Now, you might ask, how does this work? The answer is simple. Paribus does all the work for you. The app monitors some retailers and keeps an eye out for changing prices. It then uses this information to find a lower price for you.

Before you get started with Paribus, you might want to understand its features better. Here are some of the most important elements of the app:

Main Features of Paribus

Connects to Your Email

Paribus has to be synced to the email ID on which you receive your online receipts. This means you have to be comfortable sharing your email ID with Paribus. However, rest assured that the app does not collect information on all of your emails just the ones that have transactional data. 

It Works in the Background

Paribus works behind the scenes and starts only after you have made your purchases.

Sign up for Free

It costs you nothing to sign up for Paribus!

Lots of Retail Partners

Paribus monitors some popular stores that you probably shop at already. They include Amazon, Nordstrom, Walmart, Wayfair, Target, Costco and Old Navy, just to name a few.

Available as an App for iOS Devices

Paribus is available as an app for iOS devices so you can even use it on your phone. Unfortunately, it is currently not available on Android devices.

Delivery Monitoring

Paribus monitors the delivery of your items (for a few of its retail partners).


Paribus Review: How Is Paribus Priced?

To use Paribus, all you need is a device (which, unfortunately, has to be an iOS only); it is an otherwise free app. However, you might then ask, what amount of money can you earn or save using Paribus? Does it help you save money?

There is no “right” answer to this question. It is entirely dependent on how much you shop, what you shop for and how much the prices fluctuate soon after you buy those items. In other words, it is very difficult to estimate the actual amount of money you could make or save using Paribus as it is almost entirely based on your shopping habits.

How It Compares

This Paribus review will not be complete without comparisons to similar apps. It is also really important to ask how Paribus compares to other apps just like it. Are there apps that do more than Paribus? Or is there something you can use in addition to Paribus? Let’s find out.

Price

ShadowBid, like Paribus, is also a free app.

Only Amazon

ShadowBid deals with Amazon alone. In other words, it specializes in helping you gain refunds on your purchases made on Amazon (and no other platform). Its data comprises nearly all of Amazon’s price history! If you are someone who uses Amazon, way more than other retailers, this might be a good option for you. If you shop with other online retailers as well, this can be a disadvantage.

Automatic Buying

ShadowBid has automatic buying. So, instead of alerting you to the lowest price of a particular item, ShadowBid asks you what you want to pay for that item. When and if that item becomes available at the price you quoted, ShadowBid automatically buys it for you. This can be of great advantage since it saves time and allows you to buy something at just the right price. However, it can also be a disadvantage as you may want to review the product again before you purchase it. With this option, you will not be able to reverse the purchase if you happen to change your mind.  

Insights

ShadowBid places heavy emphasis on statistics. It gives you all the information you might want to take into account before you make a purchase; for instance, how much an item used to cost (or the price history) and how much the prices have changed. It also lets you know the average price of an item alongside its current price.

Available as an App

ShadowBid is also available as an app! However, it can only be downloaded on iOS devices and not on Google Play. Unfortunately, this automatically tends to limit its user base since it excludes all Android users.  

Paribus review: woman shopping online holding a silver laptop and holding a credit card

Price

Like ShadowBid and Paribus, Zen Shopping is a free app. 

Universal Checkout

In addition to monitoring prices after you have made your purchase, Zen Shopping acts as an online store in itself. It has a universal checkout system, thereby making it easier for you to shop at other online stores from the same platform, hassle-free.

Compare Prices

Zen Shopping shows you the price of one item across different online retailers. This way, you get to compare and pick the cheapest possible option.  

Track Your Shipments

Just like ShadowBid, Zen Shopping also tracks your shipments from all of these online retailers. 

Only on iOS

On the flip side, Zen Shopping is only available to those with iOS devices. So, this automatically tends to limit its user base since it excludes all Android users.  

​​​​Slice

Price

Like most other alternatives in this category, Slice is a free app.

Track Your Shipments

Even though Slice follows monitors potential adjustments in price, it is quite different from Paribus because its main focus is tracking the shipments of your online deliveries through your email.  

Android and iOS

Slice is available on both Android and iOS devices. This gives the app a major advantage over its competitors since many of them exclude Android users.

Online Shopping Organizer

Slice also has an online shopping organizer which monitors how and where you spend your money. It makes things a little easier for you by creating a sort of profile that records all your purchases and transactions.  

Barcode Scanner

Slice allows you to scan the barcodes of your purchased items. This way, it is easier for you to track them. 

Paribus Review: The Pros and Cons

It is a good idea to weigh out the pros and cons of Paribus before you make an informed decision. As is the case with most apps, you must also have your own set of evaluative criteria. After all, only you know what best suits your habits and daily life.

Pros

No More Coupons

One of the major advantages of Paribus is that you no longer have to go out of your way to find deals, offers, promo codes or coupons. These are notoriously difficult to find and usually have far too many conditions listed in the fine print. With Paribus, all this work is done for you after you have finished with your shopping!

It Is Connected to Online Stores

Paribus can be very useful if you are an online shopper. It closely monitors many of the online retailers that you might be shopping at anyway - including Target, Walmart, Costco and Macy’s.

You Keep the Entire Refund

Paribus claims that you keep 100% of the savings that you are entitled to. This could be a reasonably large sum of money, depending on what item you’re getting the refund on.

Cons

The next part of the Paribus review are the cons.

It Asks for a Lot of Personal Information

One of the main drawbacks of Paribus is that it requires a substantial amount of your personal information, such as your email ID and credit card details, right at the get-go. This could be a deterrent for users who are understandably reluctant to share their private details on an app. 

It Is Not Available on Android Devices

Paribus is no longer available for Android users, but it can be downloaded on iOS devices. This could be very inconvenient for you if you have an Android phone and don’t want to use the desktop version of Paribus.

It Is Not Available outside of the U.S.

Paribus only works for purchases that are made within the U.S.

Quality

Effectiveness

Support

The Final Word

So, is this for you? The main conclusion from this Paribus review is that it is a unique, different and effortless option for saving (or even making) little extra cash.

While Paribus indeed comes with its set of disadvantages, as you may have seen in the pro-con list, from the Paribus review it is worth noting that the pros far outweigh the cons. What’s more, Paribus is a relatively recent endeavor. It means it has plenty of room to grow and improve.

Paribus could be a great addition to your day-to-day life; it could act as a kind of bonus regarding saving or earning little extra money. To put it more simply, Paribus should not be your first or only saving tool, but it can supplement your other methods of saving money.

If you are especially likely to spend a lot of time shopping online at the retail stores monitored by it, this app might be the thing you need. In this Paribus review, we took into account its simplicity and overall effectiveness and stacked these qualities against its shortcomings. Its significant disadvantage is that it seems to require a little too much access to your email. Overall, however, we would give it a rating of 3.5 out of 5 stars.

So, what do you think of the Paribus review? Do you think it could be the app you have been looking for? Give it a try and indulge in some guilt-free shopping!

Best Work From Home Jobs and Wealth Machines In 2018

work from home jobs - photo of a person with laptop inside the coffeshop

Surviving in today’s cut-throat world is no mean feat. With uncertain global economic conditions, the job market can stumble without warning. But what if there was a way to earn a regular income from the comfort of your own home? Today, thanks to the hyperconnected world we live in, the definition of ‘work’ has evolved and changed. You can make money and take up a variety of tasks you find interesting, without having to visit an office.

Let’s understand how this environment works and take a look at some of the most popular work from home jobs today.

Work-from-Home Jobs FAQs

What Are Work-From-Home Jobs?

How Do You Find a Work from Home Job?

What Do I Need to Do a Work from Home Job?

A simple search on different work from home jobs on offer will throw up countless results, with some articles claiming to list more than 100 options. However, the fact is that these lists contain several irrelevant or obsolete suggestions as well. We spent hours combing through some of the most popular websites and blogs to shortlist the top work-from-home jobs. Our parameters were simple: easily learnable/preexisting skill, decent pay, minimal investment, and relevance. Only jobs that met all these criteria were included in our list.

How Much Money Can You Make with Work from Home Jobs?

Although you don’t want to hear it, the answer is this: it depends. It depends on which employer you are working for, how many hours a day you can put in if you are being paid according to the industry average and so on. Depending on your skill and experience, any job should be able to pay you $15-20 per hour, to begin with. However, with more experience and expertise, you can demand higher pay.

Finding an Employer

If you happen to connect with an employer who has bulk work or needs some work done urgently, you can quote higher prices as well. Similarly, if your blog or website becomes wildly successful, you can earn a premium via advertisements. If you put in the minimum amount of time, you can most definitely take care of your expenses; and if you are able to excel, the sky’s the limit!

Work-From-Home Jobs Comparison Table

Job Description

Our Rating

Website

Blogging Jobs

Tutoring Jobs

Data Entry Jobs

Translation Jobs

Transcription Jobs

Testing Apps and Websites Jobs

Virtual Assistant Jobs

Designer Jobs

 Referral Program Jobs

 Social Media Management Jobs

Top 10 Work-From-Home Jobs

Blogging Jobs

work from home jobs - Blogging Jobs

Blogs are personalized websites that cater to a niche audience. If you have a fair command over your native language and are interested in writing, blogging is the easiest option.

You have two options: write for other blogs or start a blog of your own. The former involves looking for organizations and individuals who want you to write articles, blog posts, tutorials and features for their blogs, whereas the latter involves writing for a blog that is yours. Both have their pros and cons, but neither is a piece of cake.

Honing your Skills in Blogging

You need to spend time and effort honing your research, writing and editing skills.

Either way, if you are just getting started, do not expect to rake in thousands from day one. You can start by writing blogs for others; this way, you’ll understand how the process works. However, if you are sure you want to start a blog of your own, buying a domain name and web hosting services for a year won’t cost more than $20-30.

Ideal For: Individuals with a creative streak, interested in literature, current affairs, and pop culture.

How to Get Started: Sign up for an online course on writing better and understand how to set up your own blog.

Tutoring Jobs

work from home jobs - tutoring  jobs

If you are a subject matter expert or have mastered a practical or teachable skill, you are in luck. Traditionally, tutors and coaches have a hard time looking for prospective students willing to pay them a decent fee. If you have some space and readily available pupils, you can still host in-person lessons. Today, however, online tutoring is the way to go.

Whether you teach theoretical subjects like English, math or science, or can pass on a skill like playing a musical instrument or calligraphy, there are several remote opportunities for you. There are plenty of websites that connect tutors and learners to each other; you don’t have to go out and look for students and what’s more, you can schedule classes whenever you feel like it.

Teaching at the comfort of your own Home

All you have to do is sign up, and in some instances, prove your credentials or skills. Next, decide how much you will be charging - by the hour or for the full course. Some websites also allow you to set up your own course, which is priced for individuals to access.

Ideal For: Individuals who have retired or teachers on a sabbatical.

What to Do Right Away: Sign up for an online tutoring website.

Data Entry Jobs

work from home jobs -Data Entry Job

We live in a digital world, which means there is a tonne of data that needs to be segregated in order to make sense. Most data entry jobs require simple copy and paste work, usually from one source to another.  

All businesses need to segregate the data they receive from customers, inventory or records. Since they do not want to hire someone full-time to do it, they outsource it to data entry workers who can work from home.

Learn More about Data Entry

Since the work does not require much effort or intellect, you can schedule it as per your choice. However, what it does require is time so be sure you can put in the required amount before taking on a project.

Data entry jobs pay by the hour or for the entire project. Working with established firms and organizations comes with the advantage of regular work and payments, whereas individuals might only hire you for a limited duration.

Ideal for: Students, Retirees, and Freelancers

How to Get Started:  Sign up for data entry jobs websites

 

Translation Jobs

work from home jobs -  transalation job

If you happen to be a pro at more than one language, working from home just became a lot easier. Several organizations require translation of documents and articles from one language to another. Since there aren’t many bilingual people who offer such services, the demand for translators always exceeds the supply. If you happen to know an international language like Spanish, German or French alongside English, you can browse through the many work opportunities that allow you to undertake translation work from the comfort of your home.

Develop Your Communication Skills for Translation Job

The source content is usually provided in an audio/text format, and payment is made on an hourly or audio-hourly basis. However, some might choose to pay a lump-sum amount for the entire project.  

If you are just starting out, it is advisable to look for smaller projects and test the waters to see if you actually like the work. Then, with some experience, you can also approach employers and demand better pay.

Ideal for: People with developed communication skills

How to Get Started:  Brush up your grammar and look for translation jobs

 

Transcription Jobs

work from home jobs - Transcription Jobs

If you have good typing skills, put them to use. Take up a job that requires you to hear an audio clip and put it in words. Companies often record customer conversations regarding feedback, services, and products but need them transcribed for more efficient analysis. This has created many transcription jobs for willing individuals.

Requires a High Typing Speed

Usually, companies that outsource transcription jobs provide regular work, which means you won’t have to worry about finding new projects every month. And once you have been able to prove your value, they will want you to hang on. Hence, they payment is regular and some companies even offer incentives and bonuses.

Transcription jobs pay by the hour or by the audio per hour. Again, if you are just starting out, you should go for shorter projects and see if you like the work. You can then do it on a daily basis before taking up bigger assignments.

Ideal For: Individuals with a high typing speed.

How to Get Started:  Check your typing speed to see if you are the right fit.

Testing Apps and Websites Jobs

work from home jobs - Testing Apps and Websites Jobs

Thousands of new applications and websites are launched every day, and all of them go through a rigorous testing phase. While most of it requires engineers and developers, most apps and websites go through user-testing at the very end to make final adjustments. This is where you come in! If you have a smartphone and a computer system, you can test apps and websites to give feedback and earn a stable income. There is no restriction on the kinds of apps and websites you can test and thanks to the proliferation of smartphones, you will never run out of apps to test.

Testing New Apps and Web sites for Digitally-savvies

However, you will have to follow instructions and protocols in order to be eligible for payments. There are no shortcuts, and you cannot pretend to have used an app or website and get away with it. If you are genuinely interested in exploring new apps and websites, this is a no-brainer for you.

Ideal for: Digitally-savvy individuals.

How to Get Started:  Sign up for app and website testing platforms.

Virtual Assistant Jobs

work from home jobs - virtual assistant

Several small enterprises have operations running entirely online. In such a setting they hire a remote assistant to provide administrative, creative and technical support. The role of virtual assistants is varied: they can reply to business emails, sustain communications, provide back-end support, compile reports, schedule meetings and help coordinate with other remote employees.

You have to be a Resourceful Person

Being a virtual assistant is not everyone’s cup of tea. You have to get certified  for the job and be on your toes all the time. The certification course might cost a small fee, but it is an investment - like an education degree. It helps if you are a resourceful and agile worker, but these qualities are hard to learn. Being a virtual assistant can pay off rather nicely. Most jobs pay anywhere between $20 to $50 per hour, but it also depends on your level of expertise and the size of the organization you are working with.

Ideal For: Individuals with corporate/business experience.

How to Get Started: Sign up for a Virtual Assistant Certification Course. Here are a few free options.

Designer Jobs

work from home jobs -  Designer Jobs

If you have an artistic flair but haven’t been able to pursue it academically or professionally, here’s your chance! If you are good at creating visual representations of text, stories, and journeys, you can design logos, graphics and illustrations for books and novels. While most big companies have in-house designers and illustrators, several choose to hire freelancers who work from home.

An Eye for a Good Design

As a matter of fact, most designers take up freelance projects on a regular basis because they are available in plenty and pay decently. Do not worry if you are not well-versed in the technical aspects of designing. Several services require you to design on paper as well. However, you can take a short course on how to use designing tools before getting started.

Ideal For: Artists, students, and freelancers.

How to Get Started: Get acquainted with designing tools like Photoshop and Illustrator, Online Editing Tool like Canva.

 Referral Program Jobs

work from home jobs -  Referral Program Jobs

Probably the easiest job in this list is to refer products and services to your friends and network. Companies are constantly on a lookout for ways to expand their customer base and pay if you refer your friends to them. To the same end, they regularly come up with offers and dedicated referral programs. If you happen to have a sizeable network, this could be the gig that works for you!

Although the amount you earn will vary each month, you will get a variety of other benefits like gift cards, discounts and redeemable vouchers for products and services.

Ideal for: Students, retirees, and marketers.

How to Get Started: Identify which programs work best for you.

Social Media Management Jobs

work from home jobs -  Social Media Management Jobs

If you love scrolling through your social media news feed and interacting with your network, you can find a way to convert that into a job as well. Brands and companies are increasingly looking at new-age social platforms for promotion, and appoint social media managers for the role. Depending on the type of the job, you might have to handle company pages on different platforms, scout for virtual ambassadors and come up with innovative campaigns.

Small organizations often give newcomers a chance as well, and as long as you know how the fundamentals of different social media platforms work, you shouldn’t have a problem.

Ideal For: Students, freelance copywriters, and marketers.

How to Get Started: Start your own page on different social platforms and maintain them regularly for a month. like upwork.com

 The Verdict

There are several options for anyone who has the time and inclination to do simple work from home jobs. Being in charge of your own goals and time is one of the biggest advantages of working from home, alongside saving valuable time and energy on commuting. Depending on your interest and skills, you can opt for a job that lets you pick up new skills while making money. Remember, it is a good idea to take on shorter projects and test the waters before making a long-term commitment. Millions of individuals around the world are working from the comfort of their home. Are you ready to join them?

Course Hero Review for 2018 – Generate Wealth from Home

mobile phone, book, notebook and a pencil essentials for working at home

In today’s day and age, being able to sit at home and make a substantial amount of money is, in fact, a very real possibility. Thanks to the rise in technology and communications, many employees have jobs that allow them to work from home or work remotely. This applies to formal, full-time jobs, part-time jobs and especially those jobs that are specifically designed to help you supplement your income.

As I mentioned, the internet is the real reason the option of working from home is an option at all. With basic access to the internet, information and services are readily available. Communication, in particular, has been made incredibly accessible to anyone as long as they have a phone or any other comparable device.

The Convenience of Working From Home

The convenience of this doesn’t just enhance the possibilities for employees but also improves and changes the context in which customers can access services. Moreover, this isn’t just in the form of retail platforms or sources of information but also in the form of real and effective support systems for important services.

These support systems could be as simple as helping someone figure out how their new blender works or as complex as providing someone with the professional mental health services they might need. So, in other words, this new form of employment is positively changing the way we ask and access help and Course Hero is simply one such example of this!

Course Hero Works: a Course Hero Review

This article will help you understand how Course Hero works, course hero review; its pros and cons, how other similar platforms compare to it and the best way for you to make money through Course Hero. It is now time to dive in and explore a potential new source of extra income!

 

What Is Course Hero and What Service Does It Provide?

One of the most popular ways to get reliable academic information might just be through reliable, crowdsourced online resources. In any case, to begin with, the internet is probably the first stop for all questions!

Course Hero functions as an online learning platform that students can access so as to be able to find and utilize specific study materials. These study materials are sourced through educators and students - thereby creating a dynamic, crowdsourced, online study tool in the form of a vast library.

Course Hero also allows its users to become tutors. With this option, you can now earn money by helping students. All you need to do is play to your strengths and expertise (wherever they may lie) in a range of academic fields.

 

Course Hero Review

Main Features of Course Hero

It is important to look into how Course Hero functions and what its main features are. This way, you will be able to discern how effective and lucrative an option it is as another source of income and whether or not it is worth your while.

course hero logo

How Does Course Hero Organize Itself?

One of the best ways to understand how Course Hero works is to see how it is organized. This will help you understand exactly where you would be able to contribute to the platform and if it is a right fit for you.

How Is the Study Material Organized?

Course Hero organizes its study material in the following ways:

  • School
  • Subject
  • Books
    • Literature Study Guides
    • Infographics

Course Hero Review; How Do You Earn Money through Course Hero?

There are two primary ways by which you can earn money or gain from Course Hero:

  • Become a tutor via an application process. This is the first step towards making money through Course Hero.
graphic woman working on a laptop
  • Get access to course materials by uploading your own (this can be done via a free account). This could be personally useful to you if you are looking for study material. However, this is not an option if you are trying to make money through this platform. Nonetheless, it is always better to be aware of what the platform has to offer in its entirety.
  • graphic photo of briefcase and money

     How Is Course Hero Priced?

    Naturally, one of the most pertinent questions is about how Course Hero prices its services. How much do you have to spend to use it? And how much can you actually earn by contributing to it?

    These are important questions you should ask, to be able to understand how much you can actually gain for participating in this service and whether or not that is equivalent to the amount of effort and time you put into it.

    Tutors who perform well can earn up to $500 a week! Keep in mind that this is, of course, dependent on how much time you are willing to spend as a tutor.

    To be able to access the learning material on Course Hero, all you have to do is upload study material of your own and then be able to access the information you want in return.

    Here, I have to say that it is hard to discern how much Course Hero pays in comparison to other sites. Often, the pay scale for all of these platforms is made clear only during or after the application process. However, given Course Hero’s popularity, it can be assumed that it pays its tutors fairly well, especially if you are spending a good number of hours a week as a tutor!

    Quality

    Usability

    Support

    How Does Course Hero Compare to Other Similar Services?

    As you can imagine, there are a number of other platforms that are similar to Course Hero in the way that they function and the services they provide.

    It is worth looking into how Course Hero compares to some of these other platforms in the market. How similar or different are they? Can they be considered as alternatives in any way? Or is Course Hero unique in what it is offering you as an option for making extra money from the comfort of your own home?

     

    Teachable

    course hero review -  teachable logo
    • On Teachable you can set up a course for free but the biggest difference between Course Hero and Teachable is that making money from this platform requires you to pay Teachable to use its platform to sell your course. A Basic plan costs $39 per month, followed by the Professional plan which costs $99 per month and then the High Volume plan which costs $299 per month.
    • It differs from Course Hero in that it allows you to create an entire course that users can have access to. In some ways, this makes it less versatile than Course Hero.
    • Teachable claims to have a relatively effortless process for setting up your course, which can be an advantage to using this platform.
    • The upper limit of what you can earn by selling your courses on Teachable is substantial but is highly dependent on how invested you are in creating and selling content.
    • It has over 7 million students using the platform. However, this cannot compete with the Udemy platform, for example, which has 20 million students worldwide.

    Quality

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    udemy logo
    • Udemy is another well-known platform that functions in a similar way to Course Hero. However, it is restricted to only creating courses, and not necessarily tutoring. It also requires you to give Udemy 50% of the profit for every student you bring in.
    • Udemy only starts paying the instructor after the third month, which can be a disadvantage.
    • Udemy also requires you to design a course for it to be put up on the platform; this is another limitation.
    • The process of becoming a Premium instructor is not too drawn-out and takes a fairly short amount of time, which is a positive.
    • The process of putting together a high-quality course that can be uploaded onto the Udemy website is quite intensive, which might make you reconsider using this platform.

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    • Similar to Teachable, LearnWorlds requires you to pay to use their platform to sell courses you have designed. Their plans go from Starter ($24 per month) to Pro Trainer ($79 per month) to High Value and Corporate ($199 per month) to Learning Center ($249 per month). However, they do not have any sales fees on their more expensive plans.
    • LearnWorlds emphasizes the quality of the aesthetics and interfaces it offers for designing the course of your choice. This undoubtedly helps with selling and advertising your course.
    • Allows students to connect with other students, which could be helpful in drawing attention to your course.
    • It's multilingual, thereby making it more accessible and widening the audience base.
    • Accessible across multiple devices.

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    tutor.com logo
    • For Tutor.com the price is dictated by the subject you teach on the platform and you can only have access to the pay scale after you have successfully applied for the position of a tutor.
    • Has tedious process for becoming certified as a tutor, including a background check, which can be a deterrent.
    • Offers flexible hours; so you can choose how much or how little time you want to spend as a tutor.
    • Requires you to be living in either the U.S or Canada so it is quite restrictive on location. (Rating: 1/5)
    • Thus requires you to be at least a sophomore at an American or Canadian college, which can also be restrictive. (Rating: 2/5)

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    As you can tell, there are definitely some other options out there when it comes to online teaching platforms. However, by and large, Course Hero seems to offer a more unique setting for a teaching platform and could prove to be more flexible in what it offers you as an option for earning money in your spare time.

    Pros and Cons of Course Hero

    Like any product or service, Course Hero has a number of pros and cons. It is important that you weigh them against one another before using this platform. This way, we can stay as well-prepared as possible before using it as a second source of income

    Pros

    • One of the very first pros of Course Hero is that it is accessible to you wherever you may be, so long as you have a device and a stable internet connection.
    • Interface that is intuitive and easy to use.
    • Pays substantially well.
    • It's globally-oriented outlook.
    • Provides you with more than one option for how you might want to be involved.
    • Has a large array of topics to choose from to teach.

    Cons

    • It is a popular platform and so there is a fair amount of competition.
    • t is unclear how long or intensive the application process for becoming a tutor actually is.
    • It is also unclear as to what the actual pay scale of Course Hero is for its tutors.

    So there you have it; Course Hero can be a fantastic and reliable way to supplement your income. It is effective, innovative and requires a small amount of effort, especially in comparison to the other platforms out there. In return, however, it reaps relatively high rewards. This is particularly pronounced in the fact that it does not necessarily require you to design a course but simply begins by encouraging you to answer questions.

    Which platform is the best for you?

    As you can see, there are a number of different options out there. Which platform is the best for you? It depends on how much time you want to spend supplementing your income and what kind of work you want to engage in.

    Whatever you decide to do, Course Hero is always a good option for a number of reasons. It could suit almost anyone, it follows an approachable option of tutoring. This makes it worth an overall rating of  3.5 out of 5!

    What are you waiting for? Go sign up and start learning or teaching today!