If you think that the only way to bring in more cash is to work more hours or get another job, then I’m afraid that you’re wrong. Look on the Internet. Look in the business section of any bookstore. Each one is full of thousands of stories of people who are successfully making money on the side without either of those things.
So what’s their trick? To sum it up: They know how to get paid for what they’re good at or what they know.
The Power of What You Know:
When people say “information is power”, they are absolutely correct. People will pay you a great deal of money to find out what you know if you have information they need. And when that happens, there is an opportunity.
That’s why something like consulting is so big. People will pay others a great deal of money to come in to their business, hear what is going on, and then make recommendations about what they should be doing differently or trying otherwise.
Perhaps they know of a business case where changing a sales technique or management style resulted in the desired outcome. Perhaps they can get you in touch with people they know who can get them back on track.
What you can do: Think about all the possible side hustles you would want to work on if you were paid for them. It could be about a certain hobby, something you do really well, something you’re good at fixing, etc. Is there any way you could be advertising these specialties on the web through niche websites or specific forums where people would need this kind of help?
Making Money on the Side is Also About How You Apply What You Know:
You might be doubting this whole scenario of information is king. And I don’t blame you. Any idiot can look up how to fix his toilet on the Internet and figure it out by watching YouTube. Where’s the money making opportunity in that?
Well, that’s partially true. The Internet is full of tons of great, free information.
But does that make us experts in any or all of these areas?
For example, I could probably find a YouTube video on how to change my own brakes. But does that mean I want to? Does that mean I’d be qualified to? Should I risk driving down the road with the prospect of not being able to stop my car all for the sake of saving a few bucks and doing it myself?
Absolutely not! Unless you know what you’re doing or have any prior knowledge, you should definitely pay a professional to do them properly for you. This is one of those many situations where being cheap is not worth the risk.
So what does that mean for you and your ability for making money on the side? Simple:
Part of your leverage to earn extra money will come from not just what you know, but how to apply it.
Here’s another example: Making this or any website.
Let’s say you are someone who would like to setup a website that will help make money, but you don’t know how. Or perhaps you have some pretty basic knowledge, but don’t know the first thing about all the higher-level stuff that goes along with operating and promoting a website such as:
- Custom coding
- Making graphics
- Content writing
- SEO (search engine optimization)
- Link building
This is where an enterprising person with some talent in these areas could potentially make some decent money on side. Just because someone reads about these things on the Internet, it does not make them an expert. It takes a lot of trial and error, experience, and ambition to find out what works in these areas and what doesn’t. And for that, people will be willing to pay you to make it work for them.
So not only is knowledge power, but so is one’s ability to connect the dots and get results. If you’re the sort of person who knows how to apply their skills in a manner that gets things accomplished, then you could potentially have an un-tapped resource on your hands.
What you can do: Make a list of all the things that you know how to do well that could be of value to someone else. Do any of these items require special skills or knowledge that takes a while to develop? Focus on those items and think about how those could potentially help with making money on the side. Again, could you advertise these talents on Craigslist, job boards, or web forums that would make it easy for people to get in contact with you?
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