Your hobbies and learned knowledge can make money for you.
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Editor’s note: It’s not difficult to make money. The article lists five effective ways to make money, including monetizing knowledge, making money with your existing knowledge and skills, or buying and selling things you know, such as watches and AJ. Wait. These methods are not only suitable for full-time and part-time jobs, but even for only one hour a day. This article is translated from Medium, author Darius Foroux, originally titled “Give Me 5 Minutes and I’ll Give You 5 Ways To Earn More”, I hope to inspire you.
Every time I write about personal finances or talk to someone about this, people always ask me: “How can I make more money?”
It’s not hard to make money. You are probably working now, which means you already know how to make money, right? This is the first thing I learned about making money.
You must think of making money as “a thing you already know how to do.” If you have a job now, or have a job, then you already know how to make money. The next step is how to make more money.
But if you think this is an impossible thing, you will never take the first step to try it. At this point, you must change the mind that “only privileged or lucky people can make more money.” This kind of thinking is not only absurd, wrong, but also makes you stop.
Get a reason to start
Why do you want to earn more? You need a real money-making motivation. why? Because this is a very difficult thing in itself, most people often give up quickly. But if you have a strong desire or motivation to make more money, then you are likely to stick to it. So what is your reason?
Is I want to pay my debts? Want to give your child and parents a better life? Still want to build a bigger company or organization? Or do you want to have more resources to change the world?
When you don’t want to understand, it’s a good strategy to ask yourself to start with W (What’s What, Why’s Why, When’s Time). Tim Ferris is the author of “Working 4 Hours a Week” and the godfather of the “Lifestyle Entrepreneur” movement, which he mentioned in the book:
“The actual value of money depends on the amount of W you control in your life: what you do, when you do it, where you do it, and who you do it.”
For some people, they always feel that money is not enough. With this in mind, let’s take a look at the following five ways to make more money! These five ways to make money are not only suitable for full-time and part-time jobs, but even for only one hour a day.
1. “Knowledge monetization – use existing knowledge to make money”
You can divide this sort of things into hundreds of small things you can do. Anything that requires your advice, knowledge, and skills is a “knowledge monetization.”
The mentality almost determines the success or failure of everything. A good attitude determines a good attitude, while a good attitude determines a good action, and a good action determines a good result. If you feel that you don’t know anything, first of all, I doubt it because almost everyone has certain skills and personal advantages. Second, if you feel that you are not good enough, then you need to do better.
After putting your mind in mind, you will find it easy to make money. Once you have specific knowledge and skills, you can use these knowledge skills to help others. Provide them with consulting services or advice, or even write a book, teach a course, be a coach, as long as you can think of it.
You can work independently or you can work with others. For example, you can work through free network careers, teaching, teamwork, or any other way that can help you start making money. Even, you can do anything yourself like me.
2. Don’t blindly invest money
You can think that I am very old-fashioned and an old-fashioned one, because I will avoid unnecessary money losses like making money. It is not surprising that Warren Buffett’s first financial principle is to never lose money.
When you can easily save your money, you will be grateful for this. In fact, it’s simple, you have to remember: never be tempted by the plan to get rich quickly.
Don’t blindly follow the concept of money; this is also the root cause of the bubble economy. Every year, there are new trends in the values of consumption or money, and everyone will follow suit.
My rule is simple: if people talk about making money at a birthday party, I will quit and not participate in this discussion.
In addition, when a chance to make money arises, you have to think about “the sky won’t fall out of the pie” and walk away. You will thank yourself for the future.
3. Buying a property for rental
Do you have spare cash? If you have one, buy a house in a city you know well, then rent it. The value of real estate can never be separated from its location. If you find a house with a great location, it is likely that there will never be a shortage of tenants. Finding the location of real estate through the “relationship network” is my most preferred way, which is why I recommend buying it in your city. Tell everyone around you that you are looking for a house. Among them, you will probably know someone who wants to sell a house in the near future.
But if you don’t have enough cash to go For purchase, consider a real estate mortgage. Or you can buy it with your family or close friends. If you want to enter this industry, do the research and research work. This is definitely a viable way to make money. Many people around you may say: “Real estate is prepared for the rich.” Don’t let these words hinder you.
In addition, real estate is not something that can be learned from books simply. If you really want to enter the industry, find some successful people in your city and learn from them.
4. Create a product within 48 hours
I am a person who supports ownership. That’s why I don’t like affiliate marketing. Of course, it would be nice if affiliate marketing could be integrated into your business, but I will never be a full-time affiliate marketer.
If you didn’t participate in this game and you created a product, then you are the one who owns the product, which means you must support your product. You have the motivation to not let your buyers down, this is the key to doing business.
The ideas of most entrepreneurs are too complicated. They want to innovate and create new products. The idea is very good, but why not start with simple ones? Some raw materials can actually bePurchases from your nearby factory.
If you want to create a product, give yourself a limit: What product can I design and produce in 2 days? No. At this point you will immediately eliminate 99% of business ideas. So now, just focus on what you can easily create and sell.
Of course you care about something that must be valuable and useful. As you work through, you will also improve your design, sales, marketing, and supply chain skills. These skills can also help you in the future.
5. Buy and sell what you know
I started buying and selling mobile phones from the age of 15. But it wasn’t even my first sideline. Before that, I sold second-hand CDs, DVDs and consoles.
The reason for selling these is because these things are very familiar to me at the time. I know which phones are very popular, which albums can be sold well, and which video games everyone plays.
Buying and selling things is the easiest way to make money, and it can also help people get what they want. Most people think they can buy or sell anything, but I don’t believe it.
The sale of the business depends on the needs. You must know what people’s needs are. For example, vintage watches have become popular in the past few years. I like watches, but I don’t know what is popular and what is rare.
But if you know, you know, you can make money by buying and selling watches. Everything else in the world is like this. If you know a lot about Batman comics, Barbie dolls or Pokemon, go buy and sell this thing. Know the car? Of course you can buy and sell cars.
No matter what you decide to do, be sure to Put all your energy on this matter. I often make a mistake, that is, do a few things at the same time, so I always fail.
When I focus on one thing, it is also the time when I can make more money and create more value. To understand everything you do. If you think about it, you will find that you can only succeed if you concentrate on doing one thing. Because a person can’t know everything.
So, want to make more money? First, choose some that you like andAnd good at things. Then, start the action, don’t make an excuse to say “I don’t have time.” Creating time is like making money.
Translator: Jane
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