Identify Supplementary Revenue Streams

Imagine yourself on the beach, bathing in the sun, and sand on your feet. Are you loving this view?

Photo by Khachik Simonian on Unsplash

Wait! As much as you want this experience you realize that you don't have the extra cash for it. But you deserve the vacation, right?

Have you thought about finding another source of income? Getting a part-time job is not your ONLY option. There are other options to bring in money.

• Selling items

• Driving others to their destination

• Train other people to learn a skill

  Before you start selling items you no longer use in your home or start using your car to drive people around, consider these things first:

1. Time Commitment

2. Talent & Skills

3. Seeker of Problems & Solutions

There are 24 hours a day and 7 days a week. We are encouraged to sleep for at least 8 hours. So what do you do with the other 16 hours that are left?

• Work

• Family time

• Chores

• Fun activities and leisure time

If you are working full time at least 8 hours for 5 days a week, you may want a part-time job to bring in more money but you might not have the time due to other responsibilities.

If you want additional money, consider your free time and availability. If you work Monday through Friday, maybe you can find a job where you work Saturday, Sunday, or on both days. You could use your free time to sell unwanted yet useful items. It is your choice.

Here are some opportunities:

• E-commerce websites (Etsy, Amazon)

• Caregiver or animal sitter

• Ridesharing platforms (Uber, Lyft)

  Photo by Thought Catalog on Unsplash

Next, what are your talents and skills?

Talent- a special natural ability

Example: A naturally beautiful singing voice

Skills- the ability coming from one's knowledge or practice to do something well

Example: sailing a boat smoothly

Your talents and skills are your strengths. By using both, you can find opportunities to make money.

Ask yourself:

What are you good at?

What are your strengths & weaknesses?

What jobs have you had?

Consider your answers to these questions and research areas for opportunities to make money.

Here are some opportunities that build off of talents or skills:

• Chef or baker

• Maintenance: home, equipment, appliances

• Speaking engagements or comedy events

  Photo by Bogomil Mihaylov on Unsplash

Another option to explore is to identify a problem and find a way to provide the solution.

Photo by Prateek Katyal on Unsplash

What have you done in your current and past jobs? Have you seen some problems or found ways you could do things better? Take some time and think about it. If you can point out the problem and provide a remedy, then you could create an additional revenue stream.

Here are some opportunities:

• Consulting or freelance work (like upwork.com)

• Travel agents

• Content reviewer (Resume, cover letters, etc.)

Photo by Chen Mizrach on Unsplash

This is you enjoying your time on the beach. Bills paid and some extra cash on the side. Sweet!

So maybe you aren't thinking about a vacation. What about paying off a bill, investing, saving your money for a big purchase, or putting money on the side for emergencies.

Whatever your motivation, take a few minutes to reflect. Could any of these money making opportunities be a fit for you?