Making millions of money is very easy if you know the strategies used, on how to make money. Have this taught in mind “for every service you render, there should be an equivalent exchange which is money given to you in return”. There is this desire for everyone to make money, to buy their needs and desires. This is a common goal for everyone. This article guides Experts, who are looking for more ways to make money in addition to what they have. Because only one stream of income is not enough to get their wants. And as well guides beginners who are just starting to make money. Make sure you read to the end, because there are important guides on how to make money towards the end.
This article will give you a detailed guide, modern strategies, and some unique ideas to beginners and experts. Below are services you can render to make money.
Before you make money, there are certain things you should ponder or know;
Short-term and long-term Goals
- Short-term Goals: Planning short term money means building up your wealth or money in a short period of time to pay your bills or save the money for a particular purpose for example going on a vacation, investing on shares etc. In all it means, earning money quickly or in a short time.
- Long term Goals: These are goals or plans for making money and as well saving money for a long period of time for the purpose, such as retirement plan, or buying a house and may be starting a large business. This involves planning your wealth for a lengthy period of time which requires tolerance.
How to Make Money
1. Start Your Own Business
Business
This is a medium of selling products or goods to customers that needs your products. You can purchase your goods from main distributors so as to get them cheap and as well retail it at a reasonable price to your customers or client. Starting a business is one of the surest ways to be financially independent and as well make much more money. In this you set up your time your time limit to do your business. Because you are boss of your own. Examples of business to open
- Buying selling of goods and services
- Opening a mechanic workshop
- Opening a Restaurant
- Buying and selling clothing accessories.
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Entrepreneur
This is slightly different form a business owner. In this case, you are the manufacturer or producer of your product and sell to client when needed. Much advert or campaigns is needed to get known to people. With that people tend to use your products and you make money.
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E-commerce
This involves making money through websites platforms such as Amazon, Jumia, or Esty. It aids you to reach a very large number of customers in the world.
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Franchise
Buying the right of a particular well known Established company. This involves opening a branch and using every right of a well-known established business with their consent. As a franchiser you follow all the strategy of the well-known established business, with that you make more money faster. Example of been a franchiser, is an entity buying the right of business like chicken republic, so as to establish its business as “Chicken republic as well”. That agreement is between you and chicken republic.
2. Start a side Hustle
These are extra income that comes from the side other than your main income. Earning additional income to you main income is important to help you achieve your goals for the purpose of making money. This is Flexible, such as freelancing and Gig economy.
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Freelancing
Rendering your services to various customers dependent on project basis. Website such as “Upwork” encourages freelancing. Some skills needed as a freelancer is writing, graphic design, salesforce admin, cloud engineer and programmers. In this case you need to learn a skill so as to
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Gig Economy
These are kinds of job that work for short period of time. It is flexible that is why they are called (gigs) rather than a regular kind of jobs. For example we have uber driving or food delivery services.
3. Royalties
This involves earning money through something you produced such as (creating a song, book). It has to be sold or used before you can earn money. For songs to earn royalties fee, people needs to listen to your songs so as to earn. The more people listen to your music, the more money you make.
4. Earn Money Online
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Content creation
This involves earning money from creating videos, blog post or podcasts. With this you earn through ads, Sponsorships or selling your own or self-made products once you have gotten a large community.
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Affiliate Marketing
Earning from affiliate marketing is by advertising other people’s market or products and receives sales commission when individuals buy the products through you or your link made available by you.
5. Renting Out Assets
Renting your assets like house for film making, cars (public transporting) and tools in-turn to make money by charging them, some fees based on the agreed price for using your asset. For things like car, you need a tracker inside your car for security purpose and insure them.
6. Event planning and Catering
This consists of organizing a party by assigning each task to vendors to make the event successful. So many people are in search of an event planner, to make the planning of their event easier and less stressful. With this you can make millions of money. Have a business card to share to individuals who are interested in hosting parties and events. Etc.
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Catering
If you are a kind of person who loves cooking, catering services is a way to earn a lot of money. By cooking for an individual or group of people in an event.
7. Learning New Skills
The more skills you have, enables you to get a job or you can create a project to solve people’s problems and as well render services with your skill to people to earn money. Such as programming skill to create a user friendly website. Or learning to be a mechanic to repair cars for people.
8. Nanny
They are called “care givers”. This involves having a place to take care of peoples children. It just like a daycare where you look after people’s children until the agreed time for their parent or guardian to pick them up. But it is advisable to register such organization under the government, in case of any future casualties. And as well know the health status of each child.
9. Real Estate
Buying properties or lands to sell at a higher price in the later time. It is a surest way of making money. So far you bought a genuine land and not buying a land that is in dispute or a property that is against the government survey plan.
10. Invest Your Money
To make more money, you can invest on stocks, Bonds or real estate to grow your money over time and make much more money.
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Stocks
This is where you own a small part or share of the company so far the company is doing well. In this sense, some percent of profit is given to you from the company’s profit. But this only happens, if you have invested in the company by buying stocks.
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Bonds
This is just like a loan you give to an entity, individual or to the government, so as to pay you interest for the money been borrowed. Then after an agreed period of time, the capital you lent them will be given to you as well the agreed interest.
11. Get a job
We have the full time, part time jobs. In this way of getting money, you are to work for an organization or someone to get a wage or salary. In getting a job to make money, is either you look out for a full-time or a part-time job. However, you need to get a skill so as to apply for job vacancies. To get this kind of job is either a referral or you search for vacancies online to get this kinds of job. Websites to help you get job vacancies are indeed, Glassdoor, LinkedIn etc.
In conclusion
To make money, there is a short term plan and long term. For you to make money, you need to have a skill or a service you can render. At the instance after rendering a service, you get your money or you rather invest on something to make more money (such as stocks or real estate) over a certain period of time.