Do you want to earn more money? Invest in real estate, in e-commerce with Amazon or take advantage of the opportunities of the sharing economy.
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Is the money you have in your account affecting your health? The American Psychological Association revealed a survey showing that stress over money affects people’s health. And it turns out that this stress also affects people who have a lot of money, not just those with low incomes.
You can get rid of some of that financial stress by earning extra money, even if you have a full-time job. Steve Chou of MyWifeQuitHerJob started a million dollar business while still working.
Whether you are looking for money to launch your startup or money to invest or to pay off your debts, a few thousand extra pesos a month can change your life. Here’s how to get started.
Whether you are looking for money to launch your startup or money to invest or to pay off your debts, a few thousand extra pesos a month can change your life. Here’s how to get started.
1. Launch a service business
This can be done even without having a large network of contacts, or having a digital presence or a lot of experience. The easiest way to get started is by telling people what you offer and asking them to spread the word.
AppSumo’s Noah Kagan hit the nail on the head with this concept. He decided to see if he could earn $ 1,000 in 24 hours. He ended up founding a beef jerky subscription business that he gave one of his students to try.
You can steal their concept with a business like catering, writing, or digital marketing. Start by creating a killer email to make yourself known.
2. Invest in real estate
Becoming a property owner is not always easy when you don’t have money. But you can look for options to get a small property in another country, or a space to vacation. This is generally more accessible even if you want to hire someone to help you run it.
Commercial real estate can also be a lucrative way to invest and earn passive income.
3. Launch a digital resource
Share your experience creating an ebook or a course to help others while passively earning money. My own ebook, 100 Days of Growth, ended up making me more money than my full-time job. It took me a lot of work to finish, but once it was done it required minimal effort to maintain and sell.
If writing isn’t your thing, take a video course. I did not stay with the pure book, I also launched a content marketing course through ContentMarketer.io to help my clients master the skills necessary to do content marketing in 10 weeks.
4. Harness the power of Amazon
One goal that is always admirable is to launch your own digital store and build a customer base, but this also means wearing a lot of hats. You must search for products, find manufacturers, promote your website, and figure out how to fill orders. And of course, don’t forget about customer service and returns.
Better you can sell a product directly on Amazon without the need to assume so many roles. Some sellers even use the Amazon supply center and never have contact with the product.
5. Join the sharing economy
It is not difficult to get a few thousand pesos a month taking advantage of the shared economy. But it’s not just about renting a room in your house on Airbnb. You can also rent your car, or rent a camera that you don’t use, or sports equipment.
If you are going to rent on Airbnb, think that you can earn much more if you rent your entire house, and take advantage of that time to visit your family or go on vacation.