Love ’em or loath ’em, spreadsheets help make the world go round. Even during tough economic periods, businesses and companies seek out workers who have experience creating, managing and organizing spreadsheets, particularly when using Microsoft Excel.
While you could put your skills to work for a big employer, there are also some independent routes to making money using your knowledge of the software.
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A recent YouTube video from Alston Godbolt, an influencer who teaches platform-proof monetization, outlined five ways to make money with your Microsoft Excel skills.
Also see 20 ways to make money online for beginners.
Businesses big and small are always looking for ways to track cash flow, expenses and income, which means that they often need Microsoft Excel as their bookkeeping tool. Godbolt recommended creating your own templates to sell to people and companies. The best part is that you have to do it only once and then tweak it per customer.
“Sell templates on platforms like Etsy, Gumroad or your website,” said Lisa Dupras, owner of Elev8 Coaching. “Offer bundled start kits that solve common business challenges for specific industry niches. Sell your products through social media and more direct marketing efforts.”
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Your expertise in Microsoft Excel can be used on a contract basis to help and assist clients who need help finishing projects using the software, per Godbolt. Become an Excel tutor or simply provide your knowledge and know-how for a fee as a freelancer.
“Fiverr and Upwork contractors charge by project and complexity, varying from about $75 to over $600,” Dupras said. “Business consultants contract their services at an hourly rate, and vary greatly. One-on-one tutoring fees through Wyzant range from $35 to $350 per hour.”
Making money with your skills is not always about creating and overseeing Microsoft Excel sheets. In addition to that, you can monetize your expertise by helping small businesses analyze the data in spreadsheets they already have, and then assist them with generating reports to aid in their operation.
Godbolt highlighted that oftentimes you can pivot these roles from freelance into full time, with the low-end earning potential being in the range of $50,000 as an entry-level data analyst employee. Work your way up to a senior analyst, and you could see $500,000 or more, per Godbolt.
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According to Godbolt, this involves taking your Microsoft Excel training and understanding to automate workflow using Visual Basic for Application (VBA). If there is a dull and repetitive task that needs to be accomplished in Microsoft Excel, you can train the program to do it on its own, thus taking out the need for a human to do it over and over.
If you can build custom macros, automate reports from Excel and create data processing systems to up efficiency while saving money, then you could find yourself an invaluable asset to a company willing to pay top dollar to hire you, either full time or on retainer.
Knowledge is power, and being able to teach others how to use Microsoft Excel can be a powerful way to add some additional streams of income to your wallet. Godbolt said this is a way to “get paid in your sleep” once the course is created.
“Video courses are an excellent source of passive income, are easy to create and leverage your high-demand skills with populations that need your expertise,” Dupras said. “Selling a course on Udemy will earn 97% of the sale price through your promotion or 37% through Udemy’s marketplace. Many Udemy courses start at $19.99, with well-promoted courses earning between $500 and $2,000 monthly.”
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This article originally appeared on GOBankingRates.com: 5 Ways To Make Money With Your Microsoft Excel Skills
