Smart entrepreneurs running a profitable business know there’s always more they can do to make that business grow. One way of taking things to the next level is by finding an alternate stream of income.
That doesn’t mean starting a second business, but finding ways to collaborate and grow the business by offering more value.
If you aren’t participating in earning second income yet, it’s time to consider taking advantage of this era of new business opportunities.
Here are some second income ideas for you to consider:
Launch an Online Resource
Share your expertise by launching an online ebook or course to help others while you earnpassive income. It was a ton of up-front work, but once it was ready to go, it took minimal effort to maintain and to keep up with sales.
If writing ebooks isn’t your strong suit, launch a video course or bootcamp instead.
Leverage the Power of Ecommerce
It’s always an admirable goal to launch your own online store and build a customer base, but you’re also talking about wearing many different hats. You need to research products, find a manufacturer, market your site and figure out how to fulfill orders. Don’t forget about customer service and refund requests.
Instead, you could sell a product and develop a presence directly onShopee without the need to take on so many roles.
The Power of Investment
You’ve probably heard this a thousand times - If you aren’t investing yet, you should start soon. What most people don’t realize is thatto become financially independent you don't need to be an expertin personal finance or earn a big fat salary or know about this year’s hottest stock tip. It all comes down to one thing: investing. Leverage on existing professional team to get the result you want.
Affiliate marketing is a popular tactic to drive sales and generate significant online revenue. Extremely beneficial to both brands and affiliate marketers, the new push towards less traditional marketing tactics has paid off.
81% of brandsleverage the power of affiliate marketing, a statistic that will continue to increase as affiliate marketing spending increases every year in the United States.
The affiliate marketing of Jason Stone, otherwise known as Millionaire Mentor, was responsible for as much as $7 million in retailer sales just in the months of June and July in 2017.