If you're looking for ways to start earning extra money, there's no reason why you should stop here. There is so much information available online that will teach you how to create multiple streams of income from home. You just have to find the right one that suits your interests and skillset.
The following article on this blog shares ideas with tips on how to get started in creating passive income streams. It might not be as easy as making $1K per month at first but if you want to achieve financial freedom then it's worth taking up those opportunities.
It depends on what you mean by "a month". If it means 30 days, then yes, it is totally possible. And if you don't mind working part-time or even full-time, you could probably work towards achieving such an amount within 12 months (or less).
But we'll talk about that later...
Let's say you were able to generate 1000$ every month. What would happen next? Would you quit your job immediately? Or would you continue doing what you've been doing until now?
There are many reasons why people fail financially. Some lose hope because they think their circumstances cannot change. Others give up when things become difficult. But most times, it all comes down to lack of action.
So, let's assume you keep generating such monthly profits without stopping anything. How long would it take before you reach the point where you can retire comfortably? Even better, how long would it take before you could afford to buy a house and live off rental incomes alone?
In terms of time, it takes anywhere between 3 years to 5 years depending on your current situation. However, if you believe in yourself enough, you could potentially shorten the process. This requires consistent effort over time and persistence. Here are two proven strategies that you can use to ensure quick success:
You must stay focused, disciplined, and persistent. The only way to succeed is through determination. Whatever you desire, focus on the end result while keeping distractions out of sight. Once you establish a habit, stick to it like glue. Don't deviate from your plans unless absolutely necessary.
Use leverage effectively. Leverage refers to the power of multiplying your efforts using other peoples' resources. In simple words, leverage allows you to save time and energy by outsourcing certain activities. For example, instead of going door-to-door selling magazines, you can send bulk orders via email to wholesalers who handle magazine subscriptions.
Forget about setting exact earnings targets since they often distract us from our ultimate goal which is to grow bigger. Instead, set SMART objectives i.e. specific, measurable, attainable, realistic, timely. These types of goals force us to constantly improve ourselves and also provide positive feedbacks once achieved.
Once again, remember to never give up regardless of setbacks. Keep pushing forward despite any challenges that come along the way. Never ever allow discouragement to pull you back down.
Not really. As mentioned earlier, it may require lots of patience, perseverance, and consistency. But having said that, it doesn't necessarily mean you need to be perfect. Just follow these basic principles:
Know what you're good at/interested at
Identify something(s) that you enjoy doing or interested at
Do whatever activity gives you fulfillment
Never try to please everyone
Find someone else whom you admire and copy his style
Follow these guidelines and you'll soon see your bank account growing consistently.
Here are five key points to consider when deciding whether a particular endeavor is worthy of pursuing:
Are you passionate about it? Are you excited about learning new stuff and mastering the skill? Do you feel motivated whenever you pick up your pencil? Then go ahead and pursue your passion.
Can you envision yourself spending hours upon hours practicing this skill? Can you imagine being successful in it after several attempts? If so, you shouldn't look elsewhere.
Does it bring value to others? Is it useful to society? Does it benefit mankind? Will anyone gain from your actions in the future? Only by answering questions like these could you determine whether you should spend time on it or not.
Could you turn it into a business? Could you market your idea successfully? Could you sell it to others? If so, then it's likely worth turning it into a business. Otherwise, it'd be best to leave it as hobbyist.
What type of investment does it require? Do you have the funds needed to invest in this venture? Do you know how much money has been spent on training for instance? Have you considered asking family members or friends to chip in? Depending on your answer, decide accordingly.
Have you thought about quitting your day job yet? Why not check out my post on how to build a profitable webinar business?
As discussed earlier, there are various methods and techniques that you could employ to increase your earnings significantly. One method could involve starting a website and monetizing it either directly or indirectly. Another option could be leveraging social media platforms for advertising purposes. Yet another approach could entail affiliate marketing whereby you promote products owned by others and receive commissions based on sales generated.
Nowadays, a lot of people prefer affiliate programs because they offer high commissions and minimal risks involved. They usually pay anywhere between 50% -75%. Plus, it offers flexibility wherein you choose the product category you wish to specialize in. To qualify for higher commissions, you simply need to refer more affiliates.
One last thing to note is that, unlike other forms of employment, you won't be required to clock in everyday nor report your results to bosses. Therefore, you only need to worry about getting paid and nothing else. All you need to do is concentrate solely on producing great content for your readers.
And if you haven't already done so, sign up for PayPal today. It's free and helps you collect payments quickly and efficiently. Also, register for Amazon Affiliates program if you plan on promoting physical goods.
To recap, here are three steps that will help you make 1k a month:
Step #1: Find Something That Interests You
Step #2: Learn Everything You Need To Know About Your Topic
Step #3: Take Action Now!
Easy isn't always synonymous with overnight. So, expect to put in plenty of sweat equity before seeing tangible rewards. Nonetheless, if you put forth sincere effort and remain undaunted, you too can join the ranks of top earners.
If you enjoyed reading this article, please share it with your network. Feel free to drop me an email anytime at [email protected]
I'm sure that most of us have heard about the millionaire next door. They say that anyone can be one with the right mindset, education or opportunity. But what if we could actually see someone who has done it? What would they do differently than others so that they were able to achieve this level of success? The truth is that there really aren't any secrets for making money. There is no magic formula. However, there are ways to leverage our time and effort that will result in greater returns on those efforts. In other words, there's a way to get paid without working harder...and it all comes down to finding your "sweet spot". You might call it the zone between work and play where everything seems easy and automatic. That's because when you find yourself doing something over and over again, then you've found your sweet spot. When you're focused and passionate about what you do every day, you'll accomplish much more than you ever thought possible. Here are three different scenarios to show how you too can become part of this elite group of people who are earning six figures per year while still having plenty of free time to spend with their family and friends.
Let's start by looking at a true life scenario of someone who wants to know how to make $5K in a month. This is a fairly common goal among many young professionals. So let's take a look at how you can use technology to increase your results. First off, don't forget that you need to set aside 15 minutes each morning to write out your goals for the upcoming week (or longer). Once you do this exercise, put them somewhere safe like your email account. Then turn it into action by writing emails to prospects asking for referrals. Send these messages once daily for seven days straight. If you send 5-10 messages a day, you should generate around 50 new leads in just one month. Now imagine that you can only cold market 10% of those leads. Your conversion rate is going to be very low. It won't surprise me if you end up spending 1 hour a day on lead generation instead of 15 minutes. And yet, that kind of activity alone can add up to hundreds of thousands of dollars in sales revenue. Plus, you can automate as much of this process as you want using tools such as autoresponders, article marketing software, etc. Just remember, the key point here is to focus on quality, not quantity. As long as you keep converting enough qualified leads for whatever product or service you offer, eventually you'll begin seeing real profits coming in.
Next, let's talk about another person who knows how to make $1k in a month but wants to figure out how to make an extra thousand a month. Again, this isn't difficult to do since it simply requires increasing your efforts through automation. For example, suppose you own a website which sells information products. Write out five articles today based upon keyword research and submit them to directories within 24 hours. Make sure you include links back to your site inside the resource box. Next, create a simple squeeze page to capture names and e-mail addresses of visitors interested in learning more. Automate this entire sequence of events using services such as Article Marketing Software, Lead Capture Pages, Webpage Creation Tools, Auto Responders, Video Websites, Traffic Generation Training Courses, etc. Once you master the basics of traffic generation, you'll soon realize how quickly you can grow your list.
Now let's move onto another type of person who knows how to make an extra 1000 in a month. These folks already possess a proven system of generating leads online. Instead of trying to reinvent the wheel, they choose to invest their time and energy elsewhere. Why waste time creating web pages from scratch when you can pay someone else to do it for you? With today's sophisticated content management systems, you can manage multiple websites for several clients simultaneously. All you have to do is provide the copy & design elements needed to represent your brand image. Or why bother hiring a graphic artist to draw photos when you can buy stock images for pennies apiece? Many good Internet marketers also purchase domain name registrations and host space. The bottom line is that there are lots of things you can delegate away in order to save valuable time. Remember, delegation doesn't mean giving control away -- rather its referring to handing over the responsibility of accomplishing certain tasks.
Here's another strategy for you. Think about a company that offers high-quality affiliate programs. One thing affiliates love is getting access to highly targeted lists filled with warm potential customers. Let's assume that you've been chosen as an affiliate partner for a popular network offering adult niche products. Imagine being given an exclusive link to promote to this hot crowd. Each click will cost nothing except perhaps a shareware registration fee. How does that sound? A few clicks later and you've generated $100 worth of commissions. By signing up as an affiliate with this particular program, you'll instantly receive a complete step-by-step guide showing exactly what to do to maximize your earnings online. Not only that, they even supply you with a special tracking ID designed specifically for this campaign. No matter how big the competition gets, as long as you stick to promoting these types of products, you'll always stay ahead of the pack.
Lastly, let's go over a third scenario to illustrate how you can make an additional $1000 a month passively. While building my business growing my MLM Company, I was constantly bombarded with junk mail advertising various health remedies, vitamins, diet pills, weight loss aids, herbal supplements, etc. After reading numerous reviews of these items, I came across a couple of interesting companies selling health related products. Unfortunately, neither had anything unique or compelling to offer. Fortunately, both companies offered excellent customer support via phone and live chat. Later, I discovered that one company sold digital downloads while the other provided monthly subscriptions. Either way, I was impressed with the ease of ordering and receiving products. Since I didn't feel compelled to read lengthy descriptions of the benefits, I opted for instant gratification. Within two weeks of placing my first order, I received a CD containing dozens of MP3 music tracks, videos, pictures, interviews, etc., completely gratis. Needless to say, I became hooked on this source of entertainment. From that moment on, I never bought any physical merchandise from either company. Rather, I chose to place orders regularly for convenience sake. Over time, this led to increased sales for both companies. My total investment was less than twenty bucks.
The moral of the story is that leveraging existing resources can often yield better results than spending countless hours searching for solutions. In fact, a lot of top earners started their businesses by outsourcing activities that took up limited amounts of time. You can do the same. Leveraging your expertise to build automated processes is a great way to reduce costs. Also, consider partnering up with other entrepreneurs with complementary skillsets. Together, you may be able to produce far higher results than if each of you tried to tackle similar projects individually. Finally, think of creative uses for old computer equipment lying around your house. Use that printer/scanner combo to scan documents and upload them to your website. Give away that desktop PC to someone who needs immediate assistance with setting up Windows XP. Sell your old cell phones to eBay and pocket the cash. Whatever you can imagine, chances are there's someone willing to pay for it. Most likely, they'd prefer paying someone else to handle that task.
So now that you understand the concepts behind leveraging your time, let's recap what you learned.
First, consider whether you have a skill you can sell. Are you good at math? Do you speak Spanish? Can you cook gourmet meals? Have you worked on cars before? Does your hobby involve problem solving? Is there an industry you've researched extensively? Second, try to identify opportunities in that field. Third, determine if you can easily duplicate your solution. Fourth, decide if you need outside funding. Fifth, determine how much capital you need to launch your project. Sixth, evaluate your budget and expenses. Last, assess your current situation and develop realistic targets.
What did you learn? Take advantage of these tips to improve your financial well-being.
So, what does it take to get from where you're at now to making money like this every single month of the year? Well, here's something that might surprise you. It is not as difficult or impossible as most people think. You just need to know where to look for ways to make extra income streams happen. And once you have found them, then all you really need to worry about is putting in consistent effort each day until those streams start working for you without fail. That's pretty much it...and we'll discuss exactly why below.
In order to understand how someone makes over $1K per month consistently, you first must understand the basics of their financial situation. Basically, they fall into one of two categories: either they work full time (or part-time) or they own multiple passive streams of income. Let me explain further.
If you currently only rely solely upon your primary job for income, then chances are high that you already know what "passive" means. For example, if you were an employee, you would probably consider yourself to be "active". In other words, when you go to work everyday, your efforts directly generate revenue for your employer/boss. However, if you decide to become self employed by starting your very own business, then you will likely find yourself classified as "passive". This simply refers to the fact that you have taken control of your destiny and decided to stop relying on others for approval.
Now, let's say you've started your own company. If you have employees, you may also want to refer to these individuals as your team members. Once again, imagine that you still continue to work 9 - 5 Monday through Friday. But instead of generating revenue for your boss' paycheck, you create new products which your customers pay you for. Now, imagine that you created 10 different products and sold them online or offline. Each product has its own unique price point, but you sell them wholesale so you end up pocketing 50% after commissions. After paying expenses such as marketing materials, packaging, storage fees, etc., you could potentially net around $800-$900 a week ($1600-$1800 monthly). So, while you don't technically make any additional cash beyond your regular salary during these weeks, there are many reasons why entrepreneurs choose to keep doing this even though you aren't bringing home another check. The main reason being that you always put forth 100% effort because you truly believe in the quality of your products and services. Also, since you are running your own business, you enjoy greater flexibility in terms of when and where you want to work.
However, if you've never tried selling products before, you are missing out on a lot of potential earning opportunities. Instead of focusing exclusively on building a big sales funnel filled with passive buyers who buy everything you offer, focus mainly on creating short term solutions that solve problems quickly. Take my friend Joe for instance. He owns several small businesses including a landscaping service called Urban Landscapes LLC, an event rental service named Event Planners Incorporated, and he runs a website design firm called Digital Design Studios. His average annual household income is between $100K-$125K depending on his current tax bracket. On top of that, he earns thousands of dollars throughout the course of the year from various side hustles, investments, real estate deals, royalties, consulting projects, etc. By having multiple sources of income coming in, Joe knows that no matter what happens, he won't ever suffer financially.
But let's assume that Joe isn't independently wealthy yet and wants to move up to becoming a millionaire within the next 12 months. What steps could he take to accomplish this goal? First off, Joe needs to identify his biggest personal challenge(s). Then, he needs to develop strategies to overcome each challenge. Next, he needs to implement actionable plans designed to achieve success. Finally, he needs to stay focused on achieving his goals.
Now, back to our original question regarding whether or not it's actually possible to make $1,000 per month. Here is the answer: Yes, it is absolutely possible, especially if you use proven methods that anyone can replicate. Below are 3 simple things you can do right away to begin seeing results immediately.
First, set aside $500-600 per month towards increasing your wealth levels. Create a plan whereby you allocate 20%-25% of your earnings towards investing in assets. Second, establish a separate savings account specifically for emergencies. Third, commit to taking advantage of free training programs, seminars, webinars, books, videos, etc. that teach you skills to grow your network, increase your visibility, build credibility, improve your reputation, raise awareness, leverage social media, optimize conversions, drive traffic, increase leads, boost profits, and improve ROI. These types of resources alone could potentially allow you to reach your financial goals faster than you'd expect.
Here is an interesting statistic that will give you perspective: According to Forbes magazine, the wealthiest person alive today earned approximately $7Bn last year. During 2009, Bill Gates was worth roughly $79 billion. How did he manage to amass so much wealth in under 2 years?! Simple -- he leveraged the same powerful techniques used by successful MLM leaders to attract 7 figures worth of passive buyers to join him. Again, if you haven't discovered these secrets yet, please read my report titled "The #1 Reason Why 97% Of Network Marketers Fail To Attract & Retain Wealthy Clients." Not only will it change your life, but it will completely transform yours forever!
Become CEO of your own lead generation software company, just follow our battle-tested guidelines and rake in the profits.