Knowing how to capitalize on your skill set, whether you are yet aware of it or not, can provide you with significant financial compensation. Making money in your spare time, while maintaining an existing job, even full time is possible. You might not have considered the ways that you can do this. Too many of us live in a bubble where we go to work, come home, go to sleep- and repeat. With the right tools and discipline, you could be freeing up your time to spend on financially rewarding projects that not only provide you with an income but can allow you to develop your passions. Of course, you may find that your side-project grows into a full-blown business which you can then work on full-time.
Now, the big question you might be asking is- where do I start? And there is no one right answer, as everyone’s path is different. That being said, it makes sense to evaluate where your strengths and passions lie, and you can take it from there.
First of all, you need to organize yourself. Your time is money. Unless you have an all-consuming job, then you will probably have early mornings, evenings, and weekends. This doesn’t mean that you have to spend all your free time working. Not at all. It is important also to use your free time as leisure time to avoid things like burn-out. Now, start by getting a calendar and an organizer, and see where you can realistically fit in some hours to dedicate to your goals. Of course, you need to set some goals. If you want to start an e-business, then you need to determine your competitors, your unique selling point (USP), and develop a marketing strategy.
Once you have a project or service that you believe will stand out from the crowd, then you need to learn how to market it. It doesn’t matter how unique your service is, if nobody can see it then your customer base will be limited. Traditional forms of marketing are no longer as popular as online marketing- particularly if you begin as a sole-trader. A good marketing plan includes using social media, incorporating video, utilizing search engine optimization (SEO), and blogging. These will make your online presence more visible. While there are companies that can do this for you, it is worth getting your business off the ground before you begin to invest in this way.
Use your social media
Use your social media as a platform to either market your product, or find a way to make money directly through your social media. If you have a significant following already, you most likely don’t need to be told the ways that you can capitalize on this. You can get sponsored, get paid to advertise products, or even get freebies to test. The potential on social media is endless. It is up to you how you choose to stand out from the crowd, as increasingly there is an over-saturation of bloggers and influencers on platforms such as Instagram. Having a unique personality is just as important as having a unique product, as this will attract people to your page and keep them clicking on your posts. Remember, your voice is just as important as what you are selling.
Of course, you don’t need to have your own product to monetize your social media presence. Becoming a representative for a brand or getting involved with an affiliate marketing program is another way you can make money through your social media. You can find some of the best affiliate marketing programs for beginners online, and begin to start making money.
A new way to sell your items
Online stores such as Etsy or Depop allow the seller to create their own online shop. You can find thousands of successful online shops that use these kinds of platforms, both to market and sell their products. The type of shops that are doing really well at the moment are vintage clothing and items.
Have realistic goals
You ever heard the expression’ shoot for the stars and land on the moon?’ that’s precisely the kind of mentality you should have when going into a new financial venture. You probably won’t be the next Bill Gates, but your way of thinking should always be positive and goal-oriented. Determine your short-term and long-term goals. Planning ahead will keep you motivated, and having short-term goals will keep you on track.