Does the concept of earning an extra $1,000 dollars a month appear daunting or even downright impossible?
Let’s break this vision down to appreciate what it truly entails.
Assuming that you work an extra two hours for five days a week, you will need to earn an extra $50 dollars each day.
Should you choose to work seven days a week, you will be required to turn a profit of approximately $33 dollars during each session.
Now that we can appreciate that such a prospect is entirely possible, it is a good idea to look at five effective strategies.
1. Drop Shipping
If you are already involved with the online retail sector, consider launching a drop shipping venture.
You do not physically have to own the product and in the event that a sale takes place, a third-party supplier will ship the item to the end user.
Many drop shipping platforms are free to download and they are associated with low commissions.
2. Paid Blogging
Do you have a knack for writing?
Why not use your talent (and fingertips) to turn a tidy profit with blogging?
Many businesses are seeking freelance writers (sometimes known as ghostwriters) who are capable of promoting the products and services that they have to offer.
Paid bloggers can earn a fair amount of money each day and some have even transformed this hobby into a full-time position.
3. Forex Trading
Forex (currency) trades are known for their short-term nature as well as their incredible sense of liquidity.
Thus, turning a profit can take place within a very short period of time.
You can also choose the size of your position while incorporating strategies such as margin trades. If you do decide to go down this route, make sure to work with a trusted Forex trading platform that promotes learning and education in the Forex markets.
4. Become a Social Media Influencer
Social media influencers are individuals who wield a great deal of authority within online communities.
They are often hired out during promotional periods. As they tend to have a significant amount of followers, such publicity can benefit a business.
If you are heavily involved within the world of social media, becoming an influencer is a worthwhile prospect to keep in mind.
5. Write and Sell an E-Book
Assuming that you have a gift for the written word or you wish to dust off that past novel, becoming a part-time author is a final option.
Marketing an e-book to the general public is associated with a number of advantages.
Not only is your overhead quite low, but direct sales signify that you will not be required to pay commissions to a third-party publicist (2).
Independent marketing is an excellent option if you are looking to earn a bit of extra cash and you could very well exceed your $1,000-dollar monthly goal in no time at all.
Above all, remain focused on your goal and create weekly milestones. They will provide you with the necessary motivation and you will be able to track your progress along the way.
Sources:
- https://www.volusion.com/blog/benefits-of-drop-shipping/
- https://founderu.selz.com/selling-books-online-4-reasons-to-sell-books-independently/
