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INCOME DIVERSIFICATION

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You can be able to diversify your income when you use the following business ideas.

 

Creating an e book:

Times are changing rapidly, and with it, people are always endearing to catch up with what is currently trending so as to embetter themselves. Write about what you know or spend much time either doing / talking about. Sometimes this e book can be a course since people prefer learning things by searching for them online. This avenue can be used to create a subscription business where people get value for what they are exclusively paying for. If you have good content that people value, make sure to find a way of charging for it instead of giving it out for free.

 

Create a network:

If you have a huge following / fan base, then make money off it. You can use your following to get paid to feature a product / service at a fee. This feature can even be in the form of a blog post / status update for your site / fan page on a social networking site.The more friends / fans / followers that you have, the more money you can make. You can also make money from blogging for different publications. The better you write and the more following you get, then the more money you get are likely to get as payment. If you have a referral / affiliate program for a product / service, sign up and obtain your own unique URL which you can share and then get paid as your following / fan base subscribe to it / buy the product / click on the URL. If the company does not have an affiliate program, then enquire if they have an affiliate code.

 

Resource Utilization:

If you consistently do a specific task, then you are likely to have several templates / strategies of that task which you can package nicely and then sell to clients. Create a package that beginners in an industry or setting that is difficult to navigate at first can use e.g. An Introduction to XYZ or XYZ Basics. This package can also be sold to a company that is interested in using it as give away content to its customers.

 

Sell your Notes:

Take notes / videos on content that you love reading / watching or are studying or are researching on. You can then sell them (especially on things that teach people on how to do something on their own).

 

Create an Online Business:

This can be used to generate extra income by using your online business to transfer customer orders and shipment details to the manufacturer or another wholesaler / retailer; for them to ship the goods directly to the customer without you having to keep the aforementioned goods in stock.

 

Create a Job Agency:

Use your agency to find jobs / source for tenders which you can use to subcontract the awarded tenders / jobs to other people at a fee. You can also employ qualified people that are currently out of work to do the extra work so as to boost their work experience resume at a fee.

 

Freelancing:

Freelancing can be scheduled alongside a regular job / routine as it centers on deliverables and not on hours worked. One such example is websites design, Apps Design, Software / Program Coding etc. You can also provide on demand consultancy services at a fee

 

By diversifying your income streams, then you shall not have to worry about one catastrophe impoverishing you someday. The worst thing that you can do for yourself is to rely on only one source for your financial livelihood. There are just too many things that are out of your control for you to ignore having multiple income streams.

RANDOM FACTS ARE A PART OF THE DIPLOMATIC LIFESTYLE JOURNAL FROM WHERE MORE SUCH FACTS CAN BE FOUND FOR YOUR ENLIGHTENMENT.

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