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3 Steps to Making Easy Money on the Side

3 Steps to Making Easy Money on the Side

Don’t have enough money?  Can’t get a raise?  Is the bad economy being a drag on your finances? Look, everyone wants more money, and I’m here to let you in on a little secret—for the vast majority of us, making hundreds—or even thousands—of dollars more, per month, is entirely possible.

I’m not talking about quitting your job or changing your career.  I’m talking about making money on the side: taking skills you already have and padding your wallet with some cool extra cash each month.  How awesome would that be? I’m an entrepreneur, and I’ve seen plenty of people who make money on the side.  There’s no “exclusive formula” for it: it’s really just about consistency, long-term focus (don’t give up in a week), and learning from mistakes (optimization and hacking your way to success).

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    98% of people who read this aren’t going to take my advice, and will just keep complaining they don’t have enough money, and do nothing to better their situation.  Whatever.  But, if you’re one of the 2% of people who actually wants to make a difference in their own life, and to make more money using skills you already have, read on, and see what’s worked for lots of people I know:

    Step #1: Come up with an idea by asking 10 people what their problems are.

    Stop worrying “but R.C., I don’t have any skills I can offer someone!”, and instead, go ask 10 people what their problems are.

    Go to a Chamber of Commerce meeting and ask 10 business owners what their problems are. Go to Warrior Forum and start a thread asking people what they need, then ask your contacts the same thing. Point being, leverage your network to figure out what’s bugging people, and how you can help solve their problems. For example, I once got freelancing work helping an accounting by writing their promotional pieces.  Who would have ever guessed that my claim to fame would be doing that?  But persistence paid off, and I found a way to make some cha-ching.

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    Step #2: Set long-term goals, and keep a long-term focus.

    Want to hear a secret? Most businesses take a long time to reach profit.  I just had a phone call with the founder of a luxury jean company who told me that after 3 years, their business was still running at the break-even point.  That was okay, though: they were in it for the long run, and frankly, it didn’t really matter what the short-term results were. Instead of just worrying about how you’re going to find clients, come up with goals and a tangible way to do it.  Focus on what you will have in the next year, instead of just being pouty that the world didn’t hand you cash on a silver platter. You’d be amazed how many would-be entrepreneurs fail on this point alone: they’re sad that they’re not making money immediately, get overwhelmed”when things get hard, and quit after 2 months.

    Weak, weak.

    If you’re serious about making money on the side, then actually stick with it.  If you’re feeling overwhelmed (believe me, I’ve been there), seek out the company of other entrepreneurs (you’re an entrepreneur now, champ), and find solace in hanging out with others who have successfully gone through the same thing.

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    Step #3: Build in ways to get referral business

    We all know that the best kind of marketing is word of mouth, so why not make it easy for others to market for you? Offer your first few clients discounts for referrals to others, and constantly ask your clients for feedback to ensure you’re delivering tip-top, referable service.

    You know that expression in business “making your first million is the toughest, and it’s easier after that”?  Same thing with making money on the side—once you build momentum, it’s easier to get started.

    I’ve seen tons of people make money on the side and start businesses.  That’s how I know you can—and should.

    I’m not just writing platitutdes or rehashed random crap.  I’ve seen lots of people—often my age (23!!!)—do this stuff successfully, and it’s always a shame to hear people talk about their money woes, but see them do nothing to better their situation. I hope this article gets you thinking about making money on the side.  If you decide to go down that route, you still have a lot more research to do.  Contact me or check out my blog if you’d like to know more!

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    PS- in the comments below, feel free to share: have you made money on the side?  What did you do?  Was it tough before?  How long did it take you to build your business?

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    Last Updated on March 29, 2021

    Life Insurance: A Secure Way To Protect Your Future.

    Life Insurance: A Secure Way To Protect Your Future.

    Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

    Importance of getting a life insurance

    No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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    On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

    Choosing the right insurance plan

    If you’re about to select an insurance plan, you should consider some important factors:

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    • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
    • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
    • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

    Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

    Differences between life insurance plans

    Here’s a short brief of some plan categories you can choose according to your needs:

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    • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
    • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
    • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
    • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
    • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

    Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

    So what are you waiting for? Plan for your future and live a happier and carefree life today.

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    Featured photo credit: aryehsampson.com via aryehsampson.com

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