I do get a lot of emails, questions and feedback from my readers but one question I get regularly, mostly from young entrepreneurs, is how do I make quick cash? I’m stuck, how do I get the money to keep on supporting my online business? etc.
Sometimes, things can be very tough and it is not only young entrepreneurs that are in need of money, I will be sharing 10 tips below on how to make quick cash as an entrepreneur.
I’d like you to know that I am not giving you these tips as someone who knows nothing about making money, in fact, I started my online business with my own money (Not my parents’) and I had to use some of the tips below to get the initial funds I used to start my business.
A great, simple and effective way for you to make quick cash as a young entrepreneur is by freelancing. In fact, this is the quickest way because the income you will get will depend on your skills and how you go about the work. For example, if you’re very good at designing websites or programming software products you can easily find a web design or software design job to do to make quick cash. If you’re a writer/blogger you can also find some blogging jobs to do to make quick cash.
Freelancing is very effective because your input will determine your output, if you can work 10hrs a day then you have more earning potential than someone who can’t work that long. Another thing is that your skills will also determine how much you will make, for example, before I started my blog I didn’t have any money and I started looking for ways to get money for my website, eventually, I was able to find a company that needed people who can type fast to help them do some data entry jobs and that was how I was able to get the money needed – I got enough money to start my website in just 5 days.
2. Online Auctioning/Drop-shipping
This is another way a lot of smart kids are making money online. You probably have a few items you no longer need in your home; some of these items can be books, electronics, computer parts etc. A huge way to profit from your unused old items is by selling them on auction sites. You can list your items on eBay and with time you will easily find buyers for them.
3. Start a Home-Based Business Based on Your Skills
It can either be part-time or full-time based on who you are and what skills you have, and when I mean home-based business I’m not talking about online business.
We all have one skills or the other we can use to start a business, your skill can be in web design. You can make money from your skills by starting a business in your home, get in touch with individuals and companies around you, tell them why they need your service and render your services to them. For example, if you are very good at web design you can get in touch with businesses around you that do not have a website, let them know the importance of making use of the web technology and how being professional about it can help, offer your services on it to them and they will be very happy to hire you.
When trying to go this route it is very important to make sure you have clear knowledge of what you can do and what you can’t do – that is the best way to stay out of trouble.
4. Coaching/Consulting Services
Coaching people can also be a great way to quick cash; some people only want people they can talk to about their problems. Many of them know what to do and they only need an expert to tell them what they’re doing is right – that is where you come in.
You don’t necessarily need to coach people online, you can also offer coaching and consulting services to people locally. Let them know that you are highly knowledgeable about what you’re saying and make sure you have enough proof to back it up. For example, if I want to be giving small businesses advice on building a blog and using it for their business I can easily back myself up with some points such as having a successful blog, being featured on some of the best blogs in the world etc. things like these boost your credibility, makes your clients give you more respect and trust and helps make sure you stay out of trouble.
5. Product Creation
Many of us are already accustomed to blogging and think it is the only way to make money online. Blogging isn’t the only way to make money online and a very effective way to make money online is by creating products to sell. You’re surely knowledgeable about something, it can be what you learnt in school, it can be your hobby and it can be a little research of yours. Create a product on these things and sell it to other people.
Even though a lot of factors can disqualify this as a method to generate quick cash, it can still be referred to as a quick cash generation method depending on your audience’s demand for the product, how good you are at marketing and the quality of your product (which has a lot to do with your experience).
6. Selling Photos Online
Many of us are good at taking pictures and one little-known secret is that you can make quick cash by taking pictures and selling it to stock photo websites. For example, Shutterstock is a big image site that pays people to upload photos, you can easily take cool pictures around you and upload it to the site and anytime your picture is downloaded you will be making money.
7. Writing Paid Tutorials
Are you good at Photoshop, graphic design, web design or programming? There are many sites ready to pay you if you can provide them with high quality design tutorials. This shouldn’t take much time if you’re very good at a thing and you can earn upwards of $50 per tutorial if it gets approved.
A great site that pays you for your tutorials is Tutorial9.net.
8. Be Innovative – Create Something Unique to Sell
Another great way to make quick cash is by being innovative. Take a look at your environment to see what people need seriously but is yet to be created, try to be the first to create this and with time you can end up getting a lot of attention which will lead to you making far more than you expected. A great example of someone who used this strategy is the guy who created the million dollar website.
9. Take a Part-Time Job
Yes, it can sometimes be tough beyond your expectation and in cases like this you will have to drop your ego and take a part-time job. Many entrepreneurs have destroyed their lives because of their ego, they have determined they would never work for anybody and they stayed through to their word even when it is necessary to get a job.
There are many part-time jobs you can take and it will depend on a lot of factors such as who you know, what you know etc. At the very least, you can get a job as a cleaner.
10. Affiliate Marketing
You can also make quick cash by promoting other people’s product; this is often called affiliate marketing. You will need a basic website, a product to promote and a little knowledge on marketing to the able to profit on this method.
Another thing about affiliate marketing is that it depends on you, it can take you months to make a single sale and it can take you days. It can be a great way to make quick cash if you’re ready to give it your all.
P.S. If you enjoyed reading this article and you want a more thorough and complete guide on making money online click here to download my free eBook on how I make $3k online monthly.