The first step is to think about what you can do that’s unusual or valuable to other people. Do you know a second language well enough to teach it to others, or have a skill like woodworking, crochet, or playing a musical instrument? People pay for all kinds of lessons. Just log onto the “services” section at Craigslist.org to start brainstorming what you could offer. If you’re not sure whether there’s a market for your skill, post an ad on Craigslist or on a local message board and see whether anyone contacts you about it.
People are willing to pay for all kinds of things, like house-sitting, dog-walking, cooking, yard work, cleaning, exterior pressure washing, computer work, tutoring, and even organization. If you’re interested in launching a business, come up with a business plan and start spreading the word.
There are websites like Cafepress.com that let users design their own T-shirts and products with witty words or fun graphics and then sell them for a profit. Though you won’t get rich if just friends and family members bite, you could turn into a success story if you create a design at just the right time.
For example, if a big news event or viral video inspires you, then quickly make a related T-shirt and get the word out. After President Obama signed the health care bill into law last year, Vice President Biden uttered a memorable expletive, and almost immediately T-shirts emblazoned with “Health insurance reform is a big #@%*! deal” became hot sellers!
Websites like Etsy.com make it easy to start selling your own jewelry, artwork, and other handiwork. But don’t get stuck making 100 beaded necklaces for $2 each. For the biggest payoff, stick with projects that have a relatively low time-to-profit ratio.
The creator of MochaManual.com, The Black Mom’s Guide to Life, became a consultant to companies that wanted to better understand the concerns and preferences of African American mothers. You can also become a paid consultant or speaker once you’ve developed your reputation as an expert. A local speaker’s association can help you find gigs and negotiate a rate for making presentations. You might even consider checking to see whether the local community college is interested in having you teach a course in your subject area.
The website Fiverr.com lets people sell (and buy) all kinds of wacky services for just $5 a pop. Current services for sale include designing a visually-appealing signature, creating a customized sound effect, making a tough decision, and writing a personalized rap song. Just as with crafty projects, you don’t want to over commit to something that won’t earn you a big return, but if you have a skill that easily translates into a quick service, then this could be a good strategy for you.
These are just a few ideas to get you thinking about what you can do to create a multi-streamed income. Your project might turn into a full-time job in itself or it could just be a back-up plan that gives you peace of mind while you continue to work a day job. Finding extra work that you really enjoy can be a great way to share your skills, meet new people, and take your personal finances to the next level.
This article was written by Kimberly Palmer, the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back, who writes the Alpha Consumer blog at usnews.com/alpha. It was edited and read in the podcast by Laura Adams.
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