Think you have to be a genius or have absurd amounts of capital to earn more money and increase your income? Nope, there are more than a few ways to jumpstart your extra income journey. See if one of these can get you going today!
Strategy #1- The Freelance/Consultant
This is perhaps the quickest way to get your independent income juices flowing. Do you have specific knowledge or skill in a certain industry or area? At one point in my side-hustle journey, I began to tell people that I could provide sales and marketing consulting.
On what basis? Well, I actually had many jobs in telemarketing sales since I was 16 years old. My first job out of college was glorified telemarketing computer sales. There, I learned what the sales process was all about.
Pretty soon, I connected with small business owners in the language translation industry and told them I understood how to effectively train their salespeople. A few people believed me and I was soon in the position to provide input on sales database products. It got the ball rolling and opened the door to the world of profitable, database programming work. Too many people don’t bother to write a business plan because they think it’s too hard or unnecessary unless you’re looking for funding. That’s a shame. These myths keep a lot of people from the benefits of planning. If you’re still skeptical, here are the benefits of using business plan writers.
Think about something that you know more about than anyone else. From here, it’s time to get the word out on marketplaces that are already set up for buyers and sellers to connect on the need for expert services:
Remember, you don’t have to be a super-duper expert. Think about something you are interested in. Start getting clients by providing free services until you get enough references for paid work:
- Urban Farming
- City touring
- Website Set Up
- Social Media Marketing
Take a moment to think about something you know about or would do for free to learn about and eventually make money at. Could you charge a person or a business an hourly rate to provide that service? Could you get clients relatively quickly?
Strategy 2- Hobby to Business
If you’ve got a hobby, you are in a great position to earn extra income. Many times people don’t think that things they enjoy can be lucrative. But think about your hobbies and what you spend on them: motorcycle riding, fishing, rock climbing, scrapbooking, furniture restoration, etc.
People are searching the web to find tutorials and products related to their hobby. A friend of mine posted on Facebook that she had just dropped $300 on Crossfit gear, but I’m sure she’s spent much more money before and since then on Crossfit.
With your hobby, you could start a blog or promote your content in other ways. Imagine being a resource via social media channels like YouTube, Instagram or a website for people who are looking for tutorials on things like chalk painting Mid-Century Modern furniture. You’d create a tutorial with links to recommended products (for which you’d get commissions or affiliate income) plus be able to rake in ad income based on the amount of traffic you get.
The good news is that the more “nichy” you get the better. The more bizarre the “more better!” Writing about jewelry is great, but writing about wooden jewelry might be even better!
If you went this route, what hobby would you turn into a business venture?
Strategy 3- The Job
It’s not sexy, but it’s still a valid way to make money. If you can’t think of any other way to earn additional money, a job could work in a few ways:
- Get a part-time job– Deliver pizzas, work in a retail environment or take something seasonal. It can get your hustle juices flowing and give you seed money to either get out of debt, start a business down the line or both!
- Ask for a raise on your job– Less than half of Americans ever ask for raises. Ask for a raise and see if that will give you some breathing room to either pay down debt or add more to your savings.
- Change your withholding– Are you used to getting thousands of dollars as a refund check? Well, you should know that you are letting Uncle Sam hold that money interest-free. While you are struggling to pay interest on your bills and foregoing earning on investments in things like CDs, stocks or your own business, the government profits from your loan. Stop that. Change your income tax withholding and get the money you need to fund your business or side-hustle.
A job is a good place to start, but the point of this guide is to help you with independent, i.e. job-free, income. If you decide to go this route, only do so as a temporary measure to give your desired business a boost.
Ready to get going? Download the weekend business plan and launch eBook so you can get going with your extra income journey today!
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