Do you currently feel strapped for cash? Do you feel like you’re just not making enough money to support your lifestyle? I’d say that you’re definitely not alone in this world. It seems like every other person I talk with is trying to increase their earnings because they’re just not making enough. Starting your own business may help you make more money.
Is It Really and Income Problem?
Before we get into various money making topics, I want to make sure that it’s really going to help your situation. If you have a boat in the driveway and a classic car in the garage, chances are that your “income problem” is actually a spending problem. If that’s the case, it won’t ever matter how much money you make because you’ll continue to spend it just as fast (or faster) as you make it. In order to truly help your situation, you might have to first make a legitimate budget and stick to it for at least six months. If you can do this, only then would I suggest that you begin to explore earning more money.
How Many Income Sources Do You Have?
Most people are brought up with the idea that they only need to have one job where they clock in their 40 hours per week. Well, if they’re single without kids, what do they do with the rest of their time? For most, their time is spent in front of that big box with the blue hue radiating from the screen. I used to work with a guy that seemed to do nothing but watch TV when he got home (he knew about every show on every channel), but yet he constantly complained about everything being so expensive. If he just got off the couch for a few hours a day and worked a side business, he wouldn’t have any money issues whatsoever!
Start That Side Business to Earn More
Twenty years ago, starting a business was tough. You most likely needed a separate building in town so people knew your business existed, and it required you to put in quite a lot of time. Another friend of mine (a non-TV-watcher) would work a full day at the factory and then drove straight to his car lot to work another 6 hours until it was time for bed. He was definitely a hard worker and earned a nice side income because of it, but his costs for start-up and inventory (all the cars) was quite a chunk of change. If anything went wrong, he could have been in big trouble financially.
Today, with the help of the internet and online companies like Sun Document filings you could start a side business in a matter of minutes and it would cost you less than $50. If you wanted to start an online store, you could sign up with a web host for a full year for $44. I should know. I’ve done it. And what’s your potential earnings? They’re limitless!
As easy as it is to quickly get started, you should never be too hasty.
Some advice would be to know who your target market is, and dedicate a significant amount of effort to developing an analogous business model. Also make sure you communicate with your audience, as it will only help your business grow. Obtaining a degree in a field like Organizational Leadership can seriously pay off when you are first starting out. Not only will the degree show potential clients that you know what you’re doing, but it will serve as an immense help when it comes to drafting an outline for that side business.
So what could you do for a side business? You could start a simple blog, develop a healthy following, and then sell some ad space. You could write articles for other blogs, you could work as a virtual assistant, or maybe you could be a web developer. Not everything has to be done online though. Your side business could be as simple as mowing a few neighbors’ lawns or detailing cars. Any of these things could earn you just the amount of money you’re looking for. Don’t be surprised though, if it turns into a full-fledged business. After a few years, you may discover that your side business is making more money than your full-time job! It happens all the time.
Becoming self employed and starting your own business can help you make more money.
I interviewed HR guru Laurie Ruettimann on our podcast last winter. She started blogging as a part-time gig while at work, never thinking it could become her main job later. Now, she’s a well-known blogger in her community….all because she started it as a small side-gig.
Derek!
Spending problem is a great way to place the onus back on the individual, and not the system. Having those side hustles really help me sleep better at night. I am never worried about my finances totally crashing and I now have confidence that I can conjure up other streams of revenue if needed or not;)
I think a lot of people don’t realise – or properly value – the skills that they have, skills that others may be wanting to learn. Whether it’s teaching someone how to play the guitar, how to fix bicycles, how to put up a website or use particular software programs, these are all things that can be used to generate additional income.
Very true, more people with experience should advise everyday people on how to start blogs and simple online stores – I’m sure it would do good for the economy if more people were entrepreneurs and the Internet is definitely a godsend of a facility to be that now…
It may not be this way forever though – and the longer the Internet evolves, the harder it may become to make a mark, so people should definitely start now if they haven’t. I even remember about 5 years ago when I was running a blog about Internet marketing… it was a whole lot easier even back then to make a dent… you really have to be on your A-Game now.
But yeah as you say, the costs are ridiculously low which means almost no risk… everybody should at least try – and there’s always a way to turn your numerous everyday passions or life-long hobbies in to lucrative or prolific endeavors on the Internet.