Tips on How to Earn Extra Income Apart from Your Full Time Job? (Part 1 of 2)
There is nothing to deny about that everyone in the world wishes to earn as much money as possible or at least some extra income for whatever reasons maybe, keeping aside the consequences of tiredness, time sacrificial for family, friends and personal …etc. For those people who are ambitious enough to do so, can either gets a sideline job while working full time or be your own boss to startup a full time business. For a conservative person, being a full time sole proprietor may not be his cup of tea. Therefore this sentence will strike his mind: “Get a sideline job to earn some extra income other than working for a full time job”. My career principle: “A wise man should seek every opportunity after analysing the situation to make a fortune while he is still young and energetic enough to do so.”
In the part 1 of this article, let us review some of the types of sideline jobs that a person can do, still keeping his full time job as his priority and provided that your full time job schedule and company allow you to do so.
1. To considering partnership business startup with your trusted business clients, colleagues, friends and relatives.
People, whom you trust, sometimes can be your extra income earning fire starter. Look around your circle of colleagues, friends, relatives and even business clients who has different types of business talents, some brilliant business ideas/models/plans and a mindset willing to earn more money apart from their full time jobs. You may surprise that after forming them into business partners, business plan will start to create. All of them joining into a partnership business will achieve a win-win situation, why not if your business model works after all and extra income keep flowing into all your bank accounts.
Partnerships business can provide all the business partners to be able to only devote a small portion of their personal time after work to manage their business by team work. Of course, there is a need to hire permanent staffs to manage the daily operating of business such as sales assistants, shop keepers…etc. The management methods of a partnership business will not be discussed here.
2. Making full use of your skills or talents to get yourself extra income during your spare time after work.
If you have some high talents or skills at certain standards or level of competency, you can make use of your talents to provide some services to people in need. You can provide tuition to students who need help in their weaker school subjects. You can provide home lesson or tuition to students for learning musical instruments such as piano if you have attained the qualification at a teaching level. You can help to repair computers, water piping …etc. Do not waste or hide your talents or skills which your parents have sent you to learn when you were young. If you have certain skill such as sports in swimming, tennis or squash, you can be an instructor for children or leisure adult learners or even a certified judge of certain sports for a mini competition hold by certain organizations.
3. Making full use of your hobbies or interests to get yourself extra income during your spare time after work.
Hobbies and personal interests are usually considered as doing what a person likes during ones free time to meet his desire, satisfaction, to kill ones boring time after work or even to relieve stress from work. Pat your head and think, why not use your hobbies or interests to earn some income out of it. If you like to collect stamps, antiques, paintings…etc, make it into a spare time job for generating some extra income for you by trading on the products that you have knowledge on occasionally or whenever there is an opportunity. For some ladies who like to collect accessories, dresses, hats, shoes…etc can have an idea of getting some of your trusted common interests colleagues, friends or relatives to work out a partnership business plan on selling such products. This partnership idea has been discussed in point 1 above. There are more than these which will not be stating here.
4. Writing articles, books and reviews for some extra income
Depending on your full time jobs schedule, if you are good in writing, you may consider writing articles, be a part time author of a book or writing reviews on books, movie or products during your spare time to earn you some extra income by submitting to the media for your reviews such as to newspapers, magazines or internet websites. Writing as part time job is not that easy as what you may think of. You need to learn how to write a good article, book or review and without personal bias adding to it.
5. Earning extra income from internet business?
A very common method to earn extra income nowadays is through internet marketing strategy. You can do an ecommerce business, earn money online by selling your own products (such as brand new clothing, books or ebooks software or even auction for second hand products), joining affiliates programs, and adding on advertisements…etc. As technology advances year by year, internet users are in the growing population and still increasing. Internet is not only providing information nowadays, but it provides services and products selling by lowering your startup cost without spending money to rent a shop or warehouse. This type of business entity can also be ventured into full time work which is out of the scope in this article.
6. Investments on FOREX, Stocks, Unit Trusts…etc
A more risk method to earn your extra income is to invest in FOREX (foreign exchange), stocks, unit trusts, mutual funds, bonds…etc You must have a psychological stable mind to avoid burning your hands. Greed mindset, reckless investments, not doing proper analysis on the company’s financial statements before buying the stocks and indecisive attitude will lead to making a loss. My advice is to earn this as your extra income only if you have already learnt the techniques of analyzing a company’s financial portfolio and how to read the stock market trend charts. Keep your mind clear from greed and taking reckless actions into trading the stocks, FOREX…etc without having a good analysis done.
From these 6 types of earning extra income methods, I shall temporary stop here for you to digest the information before I continue to provide more tips to increase your extra pocket money in the part 2 of this article that will be coming in the near future.
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