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Is your dwindling bank account impacting your health? The American Psychological Association (APA) released a survey showing that money stress impacts Americans' health nationwide. And, as it turns out, the wealthy are also stressed about money -- not just those in lower-income households.

You can eliminate some of that financial stress by earning extra income, even if you have a full-time job. Steve Chou of MyWifeQuitHerJob famously started two six-figure businesses while continuing to work at his day job.

Whether you’re looking for cash to launch your startup or make new investments with, or dig out from mounting debt, a few hundred to a few thousand dollars a month can change your life. Here’s how to get started.

1. Start a service business.

Launching a service business can be done without a large network, an online presence or much overhead. The easiest way to start is by telling people in your existing network what you’re offering and asking them to spread the word.

Noah Kagan from AppSumo nailed this concept. He decided to see if he could earn $1,000 in 24 hours, starting from scratch. He ended up founding a successful beef jerky subscription business that he gave to one of his students to run.

You can steal his concept, with a business like dinner catering, freelance writing or online marketing. Start by crafting a killer outreach email to get yourself up and running in just a few days.

2. Invest in real estate.

Becoming a landlord isn’t always practical for those who are employed full-time and already strapped for cash. But you can look at buying a condo or small property in another country as a vacation getaway instead. The price tag is typically cheaper, even when you hire a local property management group to manage renters while you’re away.

Commercial real estate can also be a lucrative way to invest and earn passive income, even without a large down payment. Get started with a site like Realty Mogul, and invest in commercial real estate for as little as $5,000. You'll get vetted deals and access to high-end listings you wouldn’t otherwise find.

3. Launch an online resource.

Share your expertise by launching an online ebook or course to help others while you earn passive income. My own ebook, 100 Days of Growth, ended up generating more income than my day job. It was a ton of up-front work, but once it was ready to go, it took minimal effort to maintain and to keep up with sales.

 

If writing ebooks isn’t your strong suit, launch a video course or bootcamp instead. I didn’t stop at books -- I also launched a content marketing bootcamp through ContentMarketer.io to help my clients master content-marketing abilities in 10 weeks.

4. Leverage the power of Amazon.

It’s always an admirable goal to launch your own online store and build a customer base, but you’re also talking about wearing many different hats. You need to research products, find a manufacturer, market your site and figure out how to fulfill orders. Don’t forget about customer service and refund requests.

Instead, you could sell a product and develop a presence directly on Amazon without the need to take on so many roles. Some sellers even have their products shipped directly to Amazon’s fulfillment center and never touch the product itself.

5. Join the sharing economy.

It’s not hard to nail down a few hundred to thousands of dollars a month by leveraging the sharing economy. But it’s not just about renting out your spare bedroom or basement on Airbnb. Rent out your car on Turo and bike to work or carpool instead. Rent out your camera equipment lying around your house on Cameralends, your snowboard or bike on Spinlister or your sailboat on Sailo.

And if you are going to rent on Airbnb, consider helping your revenue skyrocket by renting out your entire house instead, and using the opportunity to visit family or go on vacation.

6. Host an event.

You can make money hosting events without aiming for thousands of sign-ups, vendors and high-profile guest speakers. Instead, form a free MeetUp group on a topic you’re knowledgeable about, like growth hacking, and run free events.

After you secure a loyal following, charge for an event with a reputable guest speaker. Rent out a small, upscale conference room at a nearby hotel, and grow your new MeetUp by hosting exclusive, sought-after events that charge a premium for fantastic content.

7. Get paid to do what you’re already doing

Take inventory of what you're doing in your free time. People who love skydiving (like me!) can get certified to teach and do jumps on the weekend. You get to do what you love while earning extra money at the same time. Ask your local bar if you can help run its trivia night, or bartend a few nights a week while hanging out and getting to talk to interesting people.

Even if you’re not interested in doing much but relaxing and surfing online, you can earn money by testing websites and recording your opinion with a site like UserTesting.

So, get out there. Use your imagination to start a flow of extra income today.

Source : entrepreneur.com

Categorized in Others

Being an entrepreneur is synonymous with being financially unstable at times. While you’re growing your company, it’s important to be focused. But what if you could get a side hustle that would help bring in a healthy secondary income to alleviate some of that financial stress? And, best case, what if this side hustle could also help you grow your core business?

The good news is that there are a lot of companies that create opportunities for entrepreneurs that don’t require full-time work and can become a great companion to the work you’re doing. Better yet, they take out the hassle of having to create a second company to supplement your income because they do the legwork and allow you to plug in your skills and time.

 

Here are nine examples of opportunities that might be the perfect side hustle for you as you continue to grow your company!

1. Invest in real estate.

There are a lot of methods for making money in real estate, many of which don’t require your full time effort. Josh Dorkin, CEO and founder of BiggerPockets says you should consider land lording, flipping houses or wholesaling. His company’s website will help you manage and understand all of the different state laws and regulations, as well as leverage the largest worldwide network of real estate investors who come to his site to ask questions and help one another.

He also recommends finding people in your area with skill sets and expertise that you don’t have, and to partner with them or use them as a place to park your investment cash. You can join BiggerPockets for free and he recommends reading its Ultimate Beginner’s Guide, a free eight-chapter book on real estate investing for novices.

2. Drive a taxi.

Most of us are familiar with Uber and Lyft, the companies that took limo and town car services and gave them riders in their down time, and then expanded into recruiting regular citizens to utilize their free time to become taxi drivers. Have you considered being one of them?

I’ll never forget one of my UberX rides where the driver told me that he uses his spare time to make money driving as well as to leverage the networking he can do with each of his passengers as he grows his new business -- genius!

"One of the greatest things about the Uber platform is that it offers economic opportunity for a variety of drivers -- full time, part time, teachers in summer, full-time students, military spouses, etc. -- in more than 260 cities around the world,” says Molly Spaeth, an Uber spokesperson.

So if you’re in one of the 260 cities, you could be making your car into a money-generating experience and a networking opportunity on wheels!

3. Host the next-gen of tupperware parties.

There are many companies that do at-home parties and trunk shows where you can utilize the company’s products, marketing and operations infrastructure to build a side income by plugging in your network.

One that has proven to be very successful is Stella and Dot, where you become a jewelry consultant and host parties at friend's homes, local boutiques or events. Other popular brands include Rodan + Fields and Pure Romance.

4. Outsource your skills.

Can you do graphic design, data mining, website development, video editing, software development or customer service? Then you can parlay those skills by signing up on sites such as TaskRabbit or ODesk and get hired by their members to do jobs in any of these areas. You can pick and choose how often you want to work and what jobs you take!

5. Be a temp.

Long gone are the days of temp agencies and scouring the Internet for part-time or short-term work. Enter Wonolo, which helps people “work now locally.”

“Wonolo is a company that allows anyone to work for a few hours or a day at real companies doing real work," says AJ Brustein, the company's co-founder. "Want to help an ecommerce company fulfilling orders when they are busy, help out at a conference taking tickets, or assist in data entry at a wealth management firm? You can get numerous career experiences around the flexibility of your own schedule.”

 

You can get alerted of jobs available in your area immediately via Wonolo's app. Sounds perfect for a busy entrepreneur!

6. Rent out your pad.

Are you traveling for a business meeting and leaving your home empty? Do you have a spare room or guest house? It’s time to put them to work and list them on Airbnb or VRBO and make money on your property when you’re not using it!

7. Rent out your car.

If you can get on board with renting out your home, you’ll certainly understand the model created by companies such as RelayRides and FlightCar, which allow you to rent out your personal vehicle to their users.

I recently used RelayRides during a trip in San Francisco and had a great experience that didn’t require me to find a rental car center, and the cost was right. I even was able to get acquainted with the car’s owner, to whom I offered to help find a job.

It's another way to make money and network when you’re not using your car (like when you're parked at the airport thanks to FlightCar)!

8. Don’t just buy on eBay, sell there.

You can simply sell your own items, or you can make it into a side business.

“I run an eBay franchise in which I teach people how to run a re-sale business on eBay," says Garrett Brustein. "I do one-on-one training to show them where to get their inventory and how to list and ship items the same way I do so they can emulate the process and take all of the guess work out of the business. They are then able to do this as a part-time job in their free time."

Just think -- you can unload the stuff you don't want and go shopping to resell items all in the name of making money!

9. Get paid to network.

I know this one from personal experience! After founding my first company, a credit card processing brokerage, I began to organize networking events in my city to help young professionals interact in an environment where they wouldn’t fear getting sold to or hit on. I quickly realized the events were not only helping those in attendance to make valuable connections, but that there was real money to be made, as well.

Over time, I packaged the operations of Network Under 40 to enable entrepreneurs in other markets to bring the events to their cities. By becoming the epicenter of the network, it naturally parlays into building their full-time businesses as well as creates a healthy side income.

If you’re looking to make some money on the side and/or find channels through which you can build your primary business, it’s time to look into some of these options.

Author : Darrah Brustein

Source : entrepreneur.com

Categorized in Others

Having multiple streams of income is becoming more and more common as freelancers, work-from-home entrepreneurs, writers, and other types of flexible jobs are out there. With the laptop becoming more widely available, internet-only companies cropping up left and right, and internet access becoming available at almost every coffee and food show, it’s no surprise. Having multiple streams of income (some of which are even totally passive, meaning zero work involved) allows you to retire early.

 

Here’s how to make extra money:

 

1. Become a Freelancer

 

Over 15 million people are self-employed in the U.S. as of May 2015. Being self-employed is becoming less of a dream and more envied than ever, and people are doing it. You can find freelance work in these areas:

  • Writing
  • Web design
  • Graphic Design
  • Programming
  • App development
  • Customer service
  • Consulting

 

This list isn’t nearly extensive. There are tons of other ways you could freelance. To find work, check out:

 

Yup, even Craigslist. Poke around these sites and see if any of the work catches your fancy. You might like being a freelancer!

 

 

 

 

 

2. Become an Uber Driver

 

Uber is a taxi service ran entirely by “freelance” drivers – ordinary people with no formal taxi experience who have a car and are willing to drive people around for a fair rate. If you’re wondering how to make extra money, using your car, helping others get around could be the answer.

 

3. Rent Your House or Spare Room with AirBNB

 

AirBNB, if you haven’t heard of it, is a way for travelers to stay in people’s homes. If you have a spare bedroom or guest house, you can rent it out to people traveling in your area who can’t find a vacant hotel room or want something a little more homey. For bonus points, show them around the area, tell them about local cuisine and the best “secret” spots to go. They might give you a better tip!

 

4. Invest in a Rental Property

 

This strategy takes more time and money to commit to than the others, but it can be very rewarding if you do it well. Befriend a local real estate agent and get them to show you the ropes of purchasing a property. Once you have it set up well, renting can be passive income other than looking for tenants and fixing up the place every so often.

 

5. Rent Your Car on Turo

 

Turo is similar to AirBNB in that you’ll be renting to travelers. However, instead of renting a space to sleep, you’ll be renting them your vehicle. If you’re not using it, you may as well make extra money off of it – just be sure to have great insurance coverage and read the rules thoroughly.

 

 

 

 

 

6. Start an eCommerce Store

 

Opening an online shop is actually a lot easier than you might think. You can have one up-and-running in less than an hour using a tool like Shopify or BigCommerce. And, once you get it set up and running, it has the potential of being another passive stream to make money.

 

Don’t worry if you don’ have any experience, there are plenty of free resources to help you get started with your online store and marketing “hacks” to help you make your first sale.

 

7. Write a Blog

 

If eCommerce isn’t your cup of tea, you can still make money with your own website. Creating a blog has never been easier – you can even get started for free with tools like WordPress or Blogger. What are you passionate about? Cats? Computers? Backyard chicken coops?

 

Start writing about your passion in your blog. Writing high-quality content consistently on the same days every week will get you going in the right direction. There are other things to worry about, like SEO (Search Engine Optimization), but you don’t need to know about that to get started.

 

Once you acquire a steady following, there are tons of ways to make money off your blog, like:

 

8. Teach Something

 

The final idea I have for you on how to make money is teaching. You don’t have to be a professional teacher or coach. Do you know a lot about basketball? Can you play the piano really well? How about math, English, science, or even video games? You can get paid to teach almost anything. To get started, sign up for a site like eCoachesUdemy, or Cogno.

 

I hope this article has taught you how to make extra money with multiple income streams. Good luck – and let me know if you find success in any of these methods, I love success stories!

 

Author:  Bill Widmer

Source:  http://www.lifehack.org/

Categorized in Others

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