Before I get into ways to earn income, I want to talk about some pointers when you think about earning income. Not all income streams are equal and you really to think about how efficient, output and scalable the income stream might be. Let’s dig right in!
Efficient use of time
Each and every one of us has only 24 hours in a day. If you think about the time we spend sleeping, eating, and working we honestly don’t have much time in our day. That’s why we need to think about the most efficient use of our time to maximize your income. So when you’re starting something new keep in mind how much time it’ll take to complete each task, unless you’re doing it as a hobby and don’t mind taking a lot of time completing each task, then focus on what you can do most efficiently.
Least amount of work with biggest output
This ties in with efficiently but leans more towards the actual energy and stress that goes into completing a task or job. Sure one job might be done a lot quicker but might be extremely stressful or force you make you extremely tired quickly. In this case, regardless of how fast you can complete the job or task, you might be able to repeat the process too many times, limiting your income potential.
Is the income producer you have chosen scalable? That means, can you eventually outsource parts or all of your work so that you can turn it into something more? For example, if you choose to write articles, you can write the articles yourself or outsource the articles to have someone else write them.
The key here is to ensure that by scaling, you’re increasing your income potential. If you’ve created a website that allows you to earn $15 for each article that you write and post, you could spend $10 and have someone else write the article for you. Which means if you do this 10 times you earn $150 but spend $100 and pocket $50. Sure this is oversimplified, but you get the point.
If you like writing and are pretty good at it then this is for you. Writing does take time and you’ll need to spend time researching, editing, and proofreading your own work (you can always hire but then that’s an added cost). If you have the time, then this is a great way to earn additional cash.
If you are the creative type this might be a great way for you to earn some extra income.
allows you to design something and have it produced without having to have all the equipment.
For most people that want to earn an income online, having a website is a must. Your website can be something extremely simple from a one page website to an authority site that has thousands of websites. Creating income sources is one of the hardest because of the low barriers to entry, but if you can persevere and see it through and update the website regularly, this might be the most lucrative form of making money. Remember, content is king! There is enough spam on the Internet and Google isn’t going to rank a horrible website so always aim for high quality.
You can also always resell what you buy on Flippa, there are people that make a living solely on this website.
However, even with these small sites make sure you’re focusing on quality. I’ve seen countless websites that have been created around a specific keyword that were made horribly just so that the site can rank for a keyword and hope to earn Adsense or affiliate income. This won’t work anymore. You have to create content that people will actually want to read. People used to think they could make a quick buck create micro niche sites and I’m sure there still are people out there that are capable of doing so, why not create something that has a chance to be a long term income source rather than being penalized by Google, ie not showing up in their rankings?
If your potential client wants something a little more complicated, you can outsource that work to people on fiverr.com or freelancer.com.
If you like to spend time taking photos of absolutely anything, why not make some money while you’re at it? This is a great way to create a passive income stream. I would recommend choosing one or two of these sites and focusing your efforts on them as the more reputation your build the more likely you’re photos will sell.
Even if you are selling your photos I think it makes sense to have a website since you’ll be able to market yourself by having your portfolio online, just make sure you watermark the photos or have a way so that people don’t simply steal your photos, unless you don’t mind them taking your photos of course.
You can direct the visitors on your site to either buy the photos on your site or through on the stock photo sites. The former will lead to higher profits but the latter might be easier and more comfortable for the visitor to use.
Why not make money and play games at the same time?
a lot. You can win bigger prize pools and there’s the potential to easily make hundreds of dollars if this is your thing.
Here’s an article business Insider had about the top 20 most popular Youtubers that and how much they make roughly.
Now I won’t say expect to become the next Youtube sensation but why not post some videos, you’ll need a decent microphone and scree capturing software like FRAPS or you could simply use what you have on your computer or try some free software. If you’re a Mac user you have QuickTime Player installed to take simply screecasts while iMovie is a basic video editor. This is the combo that I am using at Freedom Nova.
is an app that gives you local jobs that pay. You’re helping businesses ensure that they have ample shelving inventory or want on the ground info about their promotions or events to see that everything is going according to their plan. It let’s you try things you usually wouldn’t in an ordinary day and pays you so it’s definitely worth a shot!
will give you gift certificates for famous retailers which isn’t exactly cash but you could use those gift certificates to buy things that you’ve wanted or sell those gift certificates on ebay for cash!
Even if you don’t have the IT knowledge you can outsource the work to have the app created through sites like freelancer.com. Apple has created a developer’s site for more information as well which you can access here.
Try and be creative. The major suppliers will already have huge contracts with drop shipping sites like Doba where you’ll likely find steep competition. If you find an interesting product that you think will sell, then contact the supplier directly. You can also try sites like Worldwidebrands that will give you access to supplier information.
You can also check this list out of 25 dropshippers.
Get a decent wetstone which won’t cost you too much. Here’s a similar one to the one you see in the video for $42. You could charge $5 for each knife and make a decent income for a very minimal startup investment.
If you don’t want to walk into every restaurant then you can call them or e-mail them as well.
Check it out here
Most of these ways of making money are extremely straightforward, sign up for the program take on a job, get paid. However, some of them aren’t so straightforward, it takes some thinking and planning. If you want to get more insight as to how you can maximize your earnings most efficiently, check out some of our tutorials here.
There are ways to combine two or more of these tips and ideas together to make a bigger business and you’ll learn how to do that as well here!
Please be sure to consult a financial professional before making any decisions. All information on Freedom Nova is for informational purposes only and is not be confused with financial advice.