Today more than ever it's becoming increasingly important to think about how you can generate multiple streams of income and it's certainly something that I am starting to tap in to. Gone are the days of landing that perfect forever job or that get rich quick career, but thankfully that doesn't mean you have to lose hope there are plenty of ways that you can turn your hobby into a serious money making machine or at least create another source of income to set you on the road to financial freedom and here are five ways you can kick start your journey.
1. Start a YouTube Channel
I know, it sounds so cliche these days to say "i'm a YouTuber" but the reality is there's still serious money to be made. Just research your favourite content creators and you will be blown away by the figures. It may seem like a daunting thing to do but there are so many ways that you can create on the platform and it;s not just for beauty gurus or gamers' because there is something for everyone and a waiting audience ready to watch.
Now I must say that for most people it takes hard work and dedication so you have to be prepared to stick with it, and if you perform well enough and your channel becomes monetised you can earn a fair amount of extra passive income. Better yet many of the bigger YouTube channels receive far more income from brand deals, so what are you waiting on.
2. Create an E-Commerce Store
If you are someone who loves to sew, knit or even thrift then you might be able to generate some extra income by opening your own online store. There are so many ways that you can sell your goods thee days and you can use social media to promote your store. If you are more of a crafter try Etsy or if you want to try your hand at a drop shipping enterprise then you could try Shopify. Either way, there are so many options for your to buy and sell but the number one rule is do your research and find out what works best for you.3. Start a Blog
This is a relatively simple and low cost way to channel your creativity and if you love to write this could be one way that you can turn your passion into a booming business. If you love cooking and want to showcase your skills then a blog might be one way of sharing your culinary delights with other like minded individuals. If you happen to be reading this, then you see I am also trying my hand at blogging. I like to write and I like to share my life experiences with others so it's the perfect match for me.
Like YouTube you can monetise your blog by adding affiliate links, Google Adsense Ads or by promoting products and brands. The key thing is to try and set up your blog properly so make sure to research all you can. I am new to this so we can share and compare notes.
4. Create an Online Course or Webinar
This is a really good way of using your skills and expertise to create a source of income, while helping others to learn something new. There are many different ways that you can market your course and can be done relatively easily on platforms such as WordPress or Thinkific .
5. Sell Stock Photographs
If you love photography then why not consider selling your pictures online. It's not the most profitable venture but you can make a reasonable amount of extra income and you are getting to share your photography skills with others.
There are many places that you can sell your pictures including Adobe Stock and Shutterstock.
Become Financially Independent
Now that I have given you some ideas to kick start you're road to financial freedom lets see if we can share our experiences and be great together.
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