Many challenges are facing every one of us in the current economic situation, and many people are finding that their regular job simply isn’t offering enough income to keep their heads above water. You may be feeling that the problems seem insurmountable, but there is a solution. Rather than just hanging in there and hoping that things will improve so your salary will be raised, you should be thinking about alternative options. We’re not saying scrap the day job and immediately start trying to make it as an entrepreneur, but there are many ways in which you can add to your income that can be interesting, satisfying, and rewarding.
The strategies below could be the steps you need to improve your finances and remove those continual worries about money that can seem so intimidating.
1. Leverage your skillset. Everyone has something they are good at, but how many people do you know who is using their skill set to the maximum possible advantage in making a living? Think about those natural abilities you have and how you can leverage them into starting a business with as little financial outlay as possible.
Firstly, write down a list of everything you feel you have a good skill level in, then cross off anything that you don’t think could be used to create a business. Now you’ve got a list of possibilities for starting businesses, start doing your research, and thinking about the ones that will be most lucrative. Then take action!
2. Think about what customers need and want. What everyday needs can you identify that you might be able to satisfy? How are those needs being met at the moment, and how could you improve on current provision?
One of the best ways of running a profitable business is to be a facilitator; you might not be able to create or provide precisely the services or products required, but by acting as a middleman bringing people and products or services together, you can make substantial profits.
Research the market. Talk to your colleagues and friends to find out how you can help them acquire or achieve what they need. Create a business plan that allows them to access such things and add a percentage on top for yourself – pure profit!
Additionally, keep monitoring the media, especially social media, and see what’s popular. Identify trends as they emerge and think about what profitable opportunities they might offer.
3. Use social media for advertising. It’s quite easy to learn how to run ad campaigns on social media, or you get someone else to work with you (today’s young kids are savvy social media users). Focus, especially on local community media, to discover what people in your community want and what you can offer them. Think about what you can do in your spare time. When you have evenings free, could you provide babysitting services? If you like outdoor work, maybe you could offer yard clearance on weekends? Again, your local community media may offer a wealth of opportunities.
Create an attractive and vibrant Facebook page that lets everybody know what you’re offering.
4. Invest. If you have or can access funding, it’s worth looking for suitable investments. If you have a good product idea, run with it, or maybe you know of an existing business that you feel you could run much better.
Many opportunities are available if you are prepared to take a proactive attitude and commit your time and money to get a new business off the ground. It isn’t just about making money; this is about creating a positive future for yourself and your family. Picture a life without money worries: it’s there for you if you are prepared to go out and work for it.