We all have things we love to do. Why not love something that you can make money at?
You all know how I love to help people with their money. I always talk about money when I'm out with friends. I read and watch TV solely revolving around money. So it makes sense that I would create a stream of income from something I know and love and you can too.
My income strategy was to generate a blog where I could talk about all aspects of money for the everyday reader. I write about how other people make money, how I make money, how I see us making money in the future. To monetize my blog, I sell advertising, I sell my books and I sell Skype coaching sessions to teach others what I've learned along the road. This is all on top of my other investment income and day-time career. Having extra streams of income accelerates your earning when times are good and can work as an income buffer if times turn bad.
Which one of your interests can you turn into income? Make a plan. Develop a website. Promote it on all of the social media outlets like LinkedIn, Facebook, Twitter and YouTube. You can even build audiences with the help of Facebook ads. Build up your community of followers and then sell them services that their followers will love!
Start Your Own Part-Time Business
Now that we're living in this new economy, we need to always be looking around the corner financially. My parents had one job their entire lives and, due to their service, they both receive secure government pensions. Those days seem to be long gone or limited to a very few professions. It's up to us to be self-reliant.
The best way to become autonomous is to cushion our current salary by turning a hobby into a side business. You'll never know how much you'll enjoy this new career path until you get started. You might even quit your job and start working at your hobby career when it starts paying you more than your day job. I have clients who have done just that.
Ask yourself, if I could do anything to make money, what would it be? What could I do that I enjoy and would also bring in money? What is the first thing that pops into your head? That's it! That idea is what you want to explore. Keep that idea in your head, and ask yourself the following questions.
What problem are you trying to solve?
1. Are there enough potential customers that have this problem?
2. Investigate if people are looking for your solution by typing the problem into Google and watching for the results.
3. Is your solution different than other solutions on the market?
4. Ask potential clients if they would be interested in your product.
5. Use Facebook or LinkedIn to get people's reaction to your solution.
6. Start a blog or Twitter account to generate future clients if you go to market!
Now you are off to the races! Test your product idea using social media to see if people would be interested in your new product or service. It's the first sign to being a part-time entrepreneur. Go get'em. But don't quit your day job until you've replaced your current job. Being a successful full-time entrepreneur is at your fingertips!
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