Best 9 Potential Ways To Earn Side Income
Updated: May 20, 2020
Most of us working 9 to 5 job or retail hours 10 to 10 job, have you ever thought of second income?
When I was graduated from my university, I didn't think much about earning because I was being lazy all the time because I living with my parents, car don't need to pay installments, never thought of buy insurance (because I think I will be healthy as long as I eat healthy), never thought of owning a house, no debts and etc, no commitments equal to freedom right? No. I was being pampered by my parents and with that I reluctant to push myself for challenge, challenge to be better, challenge to earn more, challenge to become somebody one day. Right after one day the debts starting to pile up (no earning of course spending), then I started to realise I needed to do something in my life. Everyone wish to earn more money with the time they have, but how? Below are the 9 ways to earn extra side income that you should check it out.
Start A Blog
Blogging is how I make extra income for extra savings while I still keeping my day job to support my daily needs. Who doesn't want to earn extra and have a ease of mind after you achieved financial freedom, right?
I made couple hundreds of ringgit average a month. (I'm hoping to get about a thousand ringgit this year)
There are many ways to earn on the side but blogging is consider low cost, and lesser time consuming comparing with others. You can now create your blog here with my link and get the promo price from BlueHost as low as USD 3.95 a month. You can start your blog for USD 3.95 per month plus you get a free domain altogether.
Direct selling is a platform allow you to sell products without keeping inventory and recruiting people, building a network to sell products together with you as a team.
Direct selling also refer as multi-level marketing (MLM) and sometimes certain MLM do earn by sponsor people and join your team with a certain recruitment fees. There are also a lot of MLM in the market which is dodgy and fishy, if the scheme sounds too good to be true, you already know your answer whether it is scam or not.
My tips are if you really wanted to try for MLM, go for a big and public listed company, hardly they would just disappear in a short period of time. And don't keep stock even if someone ask you too because is too risky, unless you have too much cash flow to keep stock and run, go ahead why not?
Direct selling do have potential earning and generate passive income in the long run, however not much people able to survive to achieve the end result and most of them give up the half way. If you have the perseverance and strong will, this is your calling for the long run.
Insurance and direct selling somewhat similar in selling and recruiting, the difference between insurance agent and direct selling is that recruiting new members have no commission only if the new member able to sell the insurance products.
A part of gaining commission by selling direct to customer, insurance commission payout starting between 25% to 35% from the total premium paid, subsequently the commission will reduce year after year up to 5 to 6 years. So it makes sense that normally insurance agent will call you and ask for policy review is to actually ask you to buy another one or change one new policy so they can continue earning commission from you, and of course latest product more benefits as well, win-win situation.
Passive income only can be generated if the entire team generated a certain amount of sales, and team leader must recruited certain amount of member and the active members must performed and achieved target.
There are a few levels upon the time when I was an insurance agent myself, insurance agent, unit manager, team manager, group manager and agency manager. Maybe now already got more levels that I don't know.
Property agent or real estate negotiator has the potential to earn big bucks at a short period of time due to the huge amount of commission when you sold a house and rent out a high end bungalow.
Property agent get their commission in various way for example, property alone commission, bank loan application referral fees, lawyer legal stamping commission and cross selling general insurance for the property as well.
There are 3 types of sales for property agent which are project sales (commission come in depending on project stage), sub sales (instant commission) and rental (1 month rental as commission). A few friends of mine actually made a lot of money as a property agent. Maybe if you guys need guidance, I can refer them to you, do not hesitate to email me for more information at email@example.com
Car Sales Advisor
Selling car is always easier than selling house. Advantage of selling car is you don't need to attend any course nor need to acquire any license. As long as you are knowledgeable in automotive industry and knowing most of the car model, you're very close to be the next Joe Girard.
Nothing start up is easy, in order to sell cars, you need to know the authorized dealership who able to provide stock for you to sell as if you are not the company's salesperson, we call them as car broker. You bring in sales and they provide you cars.
Similar to property agent you need to have banker contact for loan application for hire purchase but other than bank, credit financing also applicable for hire purchase.
Cars in total have 3 major segments which are New Car, Used Car and Reconditioned Car (Recon Car). Previously I have been in automotive industry for more than 7 years and right now I put my focus on Importing Electric Vehicles like Tesla Motors Car.
If you guys would like to learn how to sell car, do not hesitate to email me for further information too at firstname.lastname@example.org
Dropship is very good for people who don't have capital to start up a store and start selling the products. All you need is just to find a supplier who can provide you the stocks to sell and then you need to do is to find customers, that's all.
Dropship job is you collect orders and pay the supplier, supplier and then ship the product to customers, and lastly you get the profit. Look for dropship supplier at Majalah.com.
If you owned a car and have free time, you can consider to be a Grab driver to earn extra cash. Since car parking there no use, and have free time and love to drive around and talk to people, why not try to be Grab Driver.
It is fun to explore places and know new people. Besides that you'll earn some good amount of cash if you achieve the incentives given by the Grab company itself.
Advertise With Your Car
Since you're driving to work everyday, and you don't mind stickers on your car, why not put an advertisement on your car while you drive to the town to work everyday.
Depending on the advertising company, they'll pay you a certain amount for their advertisement on your car and the distance you drove.
Feel free to be a YouTuber if you like to make videos on certain things that you are passion on. Who knows it will become a big hit and makes some money for yourself.
A lot people thinks that you need to have a tons of subscribers only you can earn a lot of money from YouTube, my friend you are absolutely wrong. YouTube earnings based on ads click and non skip ad, these 2 ads mainly depending on the views not the subscribers.
Of course don't you forget about the minimum requirement for YouTube to accept you as a partner which are 1000 subscribers and 4000 hours from viewers watching your videos.
Yes, above all are the 9 ways to earn extra side income for yourself. Why not try it out and let me know how it works for you guys? Related Posts