Other Simple Ways Of Making Money Online

In one of our recent post, we wrote about ways of making money online and offline too. Consequently, this post is a continuation of the previous one.

BECOME AN INTERNET LIFE COACH

Because of the strong interest in quality of life and work-life balance issues, life coaches have become popular in recent years. Unlike the intellectual demands of becoming a technical or executive coach, life coaching can be successful if you possess common sense, a respect for family and a commitment to enjoy life to the max every day and helping others do the same.
(Need an internet life coach? Contact us)

PROMOTE COMMERCIAL ORGANISATIONS ON YOUR SOCIAL MEDIA PAGE

Many major retailers will pay you for promoting their businesses on your websites and social media pages. For example, electronics retailer Best Buy offers gift cards and products for people promoting Best Buy’s products on their blogs or social media pages.

Related post: Businesses you can start with little or no cash

PROMOTE BUSINESSES, PRODUCTS AND SERVICES VIA AFFILIATE PROGRAMMES

If you have a website or blog site, you can make money through affiliations with other businesses and sites, which will pay a percentage of sales you generate for the affiliate company.

SELL HAND MADE ITEMS AND CRAFTS ONLINE

For those who like to make handcrafted items, websites, such as Etsy are ideal to make some money off such hobbies. Dedicated handcrafters should check Etsy and similar sites to find the best fit for their products.

BECOME A VIRTUAL ASSISTANT

There are freelance sites, such as the popular oDesk, that often have jobs for virtual assistants. Just as with physical assistant positions, you will get paid for helping executives with a wide variety of tasks.

BECOME A FREELANCE WRITER

Do you have a passion for writing? Do you believe you have some writing talent? If earning money by writing gets your blood moving, there are numerous websites offering assignments for aspiring and experienced writers alike. You can also write for us and earn good rewards().

SELL CUSTOMIZED T-SHIRTS ONLINE

Selling graphic t-shirts is big business. Customized t-shirts with clever sayings or graphics are ideal for online sales. Sites like Teespring allow you to sell customer shirts. Teespring’s unique model allows you to design the shirt, get buyers lined up to purchase, and then actually produces the design and ship it to buyers. This save you from the initial investment in stock and the time on processing and shipping orders, though you’ll likely make a smaller profit on each shirt sold.

BECOME A THIRD PARTY SELLER ON AMAZON

If you’ve visited Amazon, you have seen products sold by third-parties with the comment “ships from Amazon.” These are sellers who send their products to Amazon fulfillment facilities, then Amazon lists the item and ships it when a buyer is found. It’s a great way to resell like-new items like video games, textbooks and more.

BUY LOCAL AND SELL ONLINE

Another great way to make money is to find things in your area that are free or cheap and then sell them online. Many people hunt through local thrift stores for rare collectibles, vintage styles or cheap-as-dirt books or media to mark up and resell online.

DESIGN WEBSITES FOR A FEE

If you have an interest or skill in web development, there is a big demand for designers to build winning sites for businesses or organisations. Sites like eLance.com are a good place to start to find clients and build your portfolio.

PROMOTE OTHER PEOPLES PRODUCTS AND SERVICES ONLINE

Sites like SocialSpark offer bloggers cash or free trips for authoring and posting original copy about products or services to their sites.Just make sure to pay attention to FCC disclosure requirements when you’re getting paid to promote.

BUY DOMAIN NAMES FOR RESALE

Some people have made big dollars by owning desired domains and selling them to hungry buyers. For a minimum investment of buying domain names you feel will be popular (typically $10 to $20), you might make a big profit selling it down the line.

RENT OUT AVAILABLE SPACE IN YOUR DRIVEWAY OR RESERVED PARKING SPOT

Parking is at a premium in most thriving cities. Renting an unused space in your driveway or vacant deeded parking space can generate additional income. If your house is close to business area and you have wide space in the open compound, this business is for you.  Advertising availability on Craigslist, blogs, using posters, etc, exposes this opportunity to local people, and up-and-coming apps like JustPark and Park Circa also allow you to easily rent out your parking space when it’s not in use.


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Things You Should Consider Before Selling Your Business

If you have determined that selling a portion of your business is the best way to get the money you need, the sale may well be prudent.

If you do not need the money for personal reasons, then the question to ask is would the sale of a portion of your business make the smaller piece of the business that you retain worth more than the larger portion of the business that you would own if you didn’t sell? The answer to this question might be “yes” in three situations:

1. The proceeds from the sale enable expansion.

In some cases, the cash infusion will allow a business to purchase equipment and/or facilities that will enable geographic expansion or the addition of a new offering. Such an expansion could make a smaller portion of the expanded business worth more than a larger piece of the existing business.


Related post: How to write business plan that attracts loan

2. The sale allows you access to resources that would create value.

Synergies that would grow revenue: If the entity wishing to make the investment were in a position to pass your company business, the investment might make sense. Suppose you run a tire service. If the person who is willing to invest in your business owns a large fleet of taxis and is willing to have you service the fleet, the investment might be mutually beneficial. Alternatively, if the potential investor is willing and able to open the right doors for your company, sales could grow exponentially.

Synergies that would allow cost reductions: If the potential investor could significantly reduce one of your major costs, the sale might be a good idea. A larger company might already purchase large quantities of raw materials that your business uses. Because of the volume the larger company buys, it might be able to give your business access to the raw materials at lower costs.


Access to intellectual capital: Sometimes, the potential investor brings unique knowledge or a special skill set. If the partial sale gives you access to such expertise, the benefit may be significant. The result may be that the person who invests in your firm serves on the board or is willing to act as an advisor. After all, he or she now has some skin in the game. Your interests are linked.

3. The sale would reduce the risk faced by your business.

Property management companies do well when real estate sales are down because more people rent. Real estate sales agencies do well when homes are selling quickly. These two businesses are counter cyclical -- when one is up the other is down and vice versa. A mutual investment might provide both businesses with needed protection against bankruptcy during the adverse portion of the business cycle.

If one or more of the scenarios above are applicable, selling a portion of your business may make sense. However, unless there are compelling reasons, we caution entrepreneurs against giving up control of their business. Once that happens, your fate is in the hands of another.

Credit: Goug and Polly W.

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Contact +2348035217265; customercare.dillionworld@gmail.com
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Tips On Getting Your Clients To Pay On Time

Create a payment calendar.

For large jobs, don’t just send the client one big bill at the end of the project. Instead, map out when you'll hit specific milestones. Once that calendar is mutually agreed upon, send the client invoices as those aspects of the work are completed. Make it a policy that you won't continue with the next step until you receive payment for the prior one – and send those invoices right away.
 

Make it worth their while.

 If you can swing it, consider incentives to encourage your customers to pay or pay through a platform that’s most convenient to you. Small nudges can be powerful habit changers.


Be a person, not a bill.

Send handwritten thank you notes to clients for big projects – and find out who cuts the checks. Being more than another piece of paperwork to the accounting department can get payments made more quickly.


Send regular reminders.

Follow up by e-mail or phone two weeks before invoice deadlines. If clients miss the deadline, call them with a gentle reminder. Being professional, polite and organized will make all the difference.


Stand your ground.

Always be upfront with your payment policies, and make sure you protect yourself legally by agreeing to payment collection terms before you get to work for your clients. You also might want to consider charging late fees. Maintain a paper trail and employ the necessary legal advice in the event there is a dispute.

Credit: Nina Z.