It seems that we are all in the age of the endless hustle, with many people spending more time, energy and actual money on trying to make their secondary passive income work or in trying to come up with the next big thing than they will ever make back. This doesn’t mean that you need to just give up and stick with your dead end 9 – 5, but it does mean that you may need to rethink your strategy.
A Better Side Hustle
While there really aren’t any get rich quick schemes, and anyone who has ever seen a Road Runner cartoon should know that these sorts of schemes will, almost, always fail. Any good idea is going to take time and hard work to get actioned well.
The age of the internet has made things significantly easier, you can research faster, find the people you need to get your idea off the ground, you can make connections with the right suppliers, and you can even crowd source your funding.
The downside is that everyone else with an idea can do all of these things too. So, much of your success won’t just be based around how hard you work, but a little bit of luck, and a whole lot of marketing are going to make the difference between your success and failure.
Your options are really going to be:
- Throw money into advertising on a platform like Google Adwords or Facebook Sponsored Post
- Increase your knowledge through somewhere like Udemy or Coursera
- Have a look at the Clickbank University Review to get an idea of how to either create your own product or earn an income by promoting someone else’s products.
One of the more useful options is going to be something like affiliate marketing, which means that you aren’t having to create a product of your own but can use your influence to boost someone else’s sales. This isn’t you selling anything, most of the time you are simply sharing a link that has your unique code attached so that if a sale is made by someone clicking on your link a small percentage gets credited to you.
To get into affiliate marketing you will usually need a social media presence and often a blog or website will help. While the most common involves just adding a product from Amazon, this tends to be a very hit and miss affair, with little training available on how to increase your earnings.
This is probably one of the prime selling points for affiliate marketers to look at Clickbank University as they will actually give you a lot of help in earning money – after all, it is in their best interests too (the research agrees, see here). The more money you make, the more their sellers make, and the more they make, so everyone wins (including the customers who wanted to buy something and just make three extra people happy by clicking your link).
Affiliate marketing is often called a passive income, but the reality is that you will need to do something to attract people so come to you so that they can actually click on that link. This often involves you making content of some description that people enjoy. This doesn’t need to be a 3000-word short story every day, it can just be really engaging conversations on Twitter.
Selling Stuff – The Digital World Is Your Oyster
OK, so buy low – sell high, is a pretty old scenario for making a quick buck. Whole industries have been founded on this principle. However, in the digital age your options about what you can sell have increased beyond what anyone could ever have imagined.
While we’ve talked about Clickbank University for affiliate marketing, the prime company, Clickbank, is all about selling digital products. Although the name might make you think of ‘clickbait’ and send off alarm bells, it is a genuine company with a high reputation.
Although this particularly company is building its reputation around its affiliate marketing program and digital products for sale, there is another aspect that is going to be useful for entrepreneurs with too many ideas. This is where to go if you have an idea but don’t want to put it into action. What can you do with these ideas? Sell them. For entrepreneurs’ ideas are not the problem, it is finding the time and energy to put into seeing them developed, so why not sell your idea and let other people bring them to fruition?
Upskilling Yourself Through Online Courses
Whether you have a tertiary qualification or not, there is a very good chance that you will need to increase your knowledge before you can really make money online.
Thankfully you don’t actually need to get yourself a student loan, or increase your current student debt, with the number of free or inexpensive online courses that can target the areas of knowledge that you are lacking.
It seems that there is an endless number of short courses around, and people still look towards YouTube for educational content, however learning through a more reputable institution, will provide you with a linear understanding of a topic. This means that you don’t have to listen to someone ummming and aaaahhhing their way through a youtube video as they jump from point to point and back again. Online courses should be able to provide you a solid grounding in the topic that you are interested in. https://www.pnas.org/content/116/10/3988
Having a look at the different options is often an eye opener for people, as they discover that they don’t need to do the full three-year marketing degree to being able to make money online.
One thing to watch out for if you are following a YouTube tutorial or a random personal guru is that they are teaching your good methods to boost your income. There are still a lot of dreadful ‘blackhat’ practices in the world of SEO and affiliate marketing, and while these get rich (or get popular) quick schemes seem plausible, they will not work and may cost you once you’re blocked.