Key power tips on making a solid income
When you say earning an income, you might think that holding down a job and that being frugal with how you spend your monthly wages can turn you into a millionaire. But did you know that most millionaires don’t rely on a single stream of income alone? Most of them have at least three streams of income, and some even have seven. Regardless as to how many streams of income you plan to have, you should make each of them solid by applying these tips:
Set up a blog and monetize it.
If writing is your strong suit, you can turn it from a mere pastime to a viable source of stable income. You’ll only need to set up a blog about a specific niche that you display more than a passing interest in so that you can more easily come up with posts to write there.
For instance, if you love trying out different kinds of food, you can put up a blog about it. However, be more specific as to what type of food you want to feature in your blog. Do you want to write a blog about specialty burgers? Or perhaps a blog about homemade cakes? The more unique your approach to a particular niche, the better your chances of standing out in the crowded blogosphere. It’s up to you as to which blogging platform you want to use, though two options worth considering are Blogger (especially as you’re only starting) and WordPress (if you eventually wish to have a sleeker design for your blog).
Just make sure that you’re putting out high-quality content that can instantly capture the attention of your blog’s readers and do so consistently. You can consider scheduling your posts so that you can still churn out content for your blog even if you suddenly fall ill or you have to take care of other matters.
But writing dozens of posts for your blog and gaining a certain number of visitors alone won’t earn you any substantial income. You’ll have to monetize your blog by becoming an affiliate marketer. How affiliate marketing works is that you’ll have to:
- Insert a link to a third-party product or service in any of your posts
- Hope that any of your readers click on the link and purchase the product or service
- Earn a commission for every sale that the third party makes for their product or service after you promoted it in your blog
Unlike placing ad banners, affiliate marketing is an unobtrusive way of promoting someone else’s product or service and making money. You only need to sign up for an affiliate program, though the third-party products or services you plan to promote via affiliate marketing should have something to do with whatever subject you’re blogging. If your blog is about homemade cakes, for example, you should put affiliate links to baking tools and equipment in your posts.
Publish some e-books.
A blog might eventually prove to be too limiting for you and your writing skills. You’ll, therefore, want to consider producing e-books instead. But as with blogging, you also have to identify what niche you’re most comfortable tackling. Once you’ve identified your niche, you’ll then have to set your sights on a subject that would set you apart from all other e-book writers.
Say that you’ve already chosen food as your niche. What kind of food tickles your fancy? If it’s homemade cakes, you can come up with an e-book containing cake recipes. But to stand out, you’ll need to ensure that anyone who buys your e-book can do every recipe written there in 30 minutes or less. Zeroing in on a unique subject for your e-book can help you identify who your target audience is and keep your focus grounded on them alone instead of aiming to sell to the general public.
Conduct an online class.
But what if you don’t like to write? All hope of earning a stable income isn’t lost yet as you can still leverage whatever skills you have as long as you know how to organize your thoughts and turn them into a course that you can teach to others online. You don’t even need to get a Bachelor’s Degree in Education and pass a licensure exam to conduct an online class. All you need is a syllabus of whatever topic you plan to teach online and a winning strategy to market your course to anyone who might express an interest to learn from you.
For example, you may not be into writing at all, but you know how to play the electric guitar quite well. While you may already have a band where you can showcase your guitar-playing skills in front of dozens or even hundreds of people, some of your fans would want to learn from you how they can play that lightning-fast solo you did in one of your songs.
But if your band is currently in the middle of a busy touring schedule, you might not have the time to set up a proper masterclass where you can teach some of your fans in person. Instead, you can outline everything that you believe your potential students need to know about playing the guitar (without making it too comprehensive), build a course out of it, and promote your online class on the social media account or website of your band where your fans can more easily see it.
Include video tutorials in your online course so that your potential students can more easily follow along with whatever you instruct them to do. Also, update your online course periodically as you might have learned something new that you may want to share with your students as well.
No matter how much you love whatever job you have, there will come a time when old age or some unfortunate event would render you unfit for work. That’s why you have to find a way to make a solid income as early as now, and the above-listed tips should help you accomplish that. You shouldn’t limit yourself to following only those tips though as there are several other ones online that can also help you earn a solid income when you apply them as well.