In this post, I will share with you tips you can use to make more money.
These tips will help you to make better decisions about your way to make more money (online).
1 | Choose something you like a lot
This blog is all about money-making ideas. That does not mean that all the ideas are suitable for everyone.
You should choose one that is calling you.
We all have special skills, experiences, and talents.
Don’t do what I am doing (Learning hard things on my own all the time).
Don’t go the hard way.
If you are skillful, talented, and have passion, you should choose that and live your life with that.
Maybe it is something you can make money with, maybe not, but make sure you have time for what you love.
Doing something you are good at is important, but having a reason behind it is more important.
To clarify your Purpose and Mission you can take these super good SkillShare courses by Jesse Redheart.
Find Your Purpose in 6 ways – Perfect life design
Choose Mission, Set Goals – Perfect Life Design
It is easier to do something you are already good at rather than learn new skills.
Most people will always choose the easy road and it is actually what I recommend.
No matter how skillful you are in some areas there will be challenges along the way.
Choosing something you are good at will make your life less stressful. You will be motivated to learn some new skills or hire people with complementary skills in order to move forward your business.
Make more money on interests and skills you already have.
2 | Choose the path of least resistance
Choose the path of least resistance, and use the skills and expertise you already have.
I am mentioning this because some people who didn’t have rainbows and unicorn childhood..may not even know what their strengths are and what skills they have.
Take inventory of your strengths and your skills.
I am sure there is something you are good at, if not then you are probably interested in something.
If your interest is something that others are interested too and are looking to buy products or services in that niche then it may be something you could learn more about.
Skillshare is a community of creative people just like you learning together and teaching each other. When you will run into new problems on your journey most likely someone else has already solved that problem.
Get help, don’t try to figure out everything by yourself.
Join the Skillshare Community
You can make more money with the skills and expertise you already have instead of learning something that is difficult and different from your natural abilities.
3 | Find the Sweet spot
You have probably seen “ikigai” it is not meant to be used for business, but it can give you some direction to have balance.
If you follow your passion and do what you love it may be something that the world doesn’t need or something you can’t get paid for.
If you do something that the world needs, and can get paid for, but you are very bad at what you do, you will get drained.
If you do something that the world needs, can get paid for it, and are good at it, but it is not what you want to do you may end up feeling empty inside.
The sweet spot is.. in the middle when it is something that the world needs, something you are good at, something you can get paid for, and something you like doing.
Make more money finding your sweet spot!
4 | Choose one Money making opportunity
Choose one money-making opportunity and stick with it until you make it work, then scale. This is what it will look like:
- In the beginning, you will be building a foundation
- Then you will be sharing your work with people
- You will hire help /and automate some parts of your business
If you focus only on one thing, one project, you will be able to build it up much further than splitting your attention in multiple directions.
Trust me, I know.
Make more money by focusing on one money-making opportunity.
5 | Focus on things that will bring you results
Find out what things are working and do more of them. Diss things that aren’t working faster.
Pareto principle 80/20 rule, 80% of results come from 20% of the effort.
The most known example of the Pareto principle is that 80% of sales come from 20% of customers.
6 | Choose something, that you can make money with
Choose something you can make money with. Let’s say focusing on families with income annual income of 60 000+ is a better idea than focusing on frugal students/families.
- Make sure that a group of people you choose to sell your products or services has the money they can spend on your products or services.
- Make sure that your product or services are something they need or want.
- Make sure that they have time to use/enjoy your product or services.
- Make sure it is profitable. Businesses may lose money in the beginning, but if you choose something trending or seasonal it may not be trendy for a long time.
- Make sure that your niche is evergreen or at least steady or rising.
7 | Choose something people want and are willing to spend on
This one I mentioned in the previous part, but this makes a lot of sense.
Let’s say you have a self-development course available. Well students will probably not yet be in that mindset for self-development, they may not also have the time or finances to follow through even if they would want to get involved.
On the other hand, some portion of people who are mature enough and have some income in 30+ to be able to buy and use your self-development course.
8 | Make sure that you can make money long-term
There are a few things to keep in mind when starting a business(or making money online). this is what you want to be focusing on.
- Advertise or add value with content on Social media to funnel people to your site/store. Get seen by more people.
- Have a funnel in place that will convert leads into sales.
- Make your existing customer buy more from you (Increasing order value by upselling, down selling, or adding complementary products).
- Make your existing customer buy more often from you (Lifetime value of a customer).
- Increase your prices
- Have price variations from low to a high ticket. Some people will always choose Premium.
- Add more products & services, but I don’t recommend this if you are the one who is doing all the work. It is better to be really specific about what you do and have really well-targeted customers. This way you will be able to improve what you already offer rather than have customized services.
By creating value and keeping your existing customers happy you will be able to grow.
Happy customers will buy from you again.
Did you know that it is easier to sell to existing customers than to people who have never heard of you?
Did you know that is also much cheaper?
Happy customers will refer new customers and this will make you more money!
9 | Make sure that you have high-ticket products
This can apply to both your own products and affiliate products.
You can do this by adding options for customer to choose from or slowly uppselling them bit higher priced items.
It takes the same amount of time, effort, and energy to make cents, and to make big bucks, it is up to you.
Because you are here I recommend being smart about it.
Here is how I see it, you can sell products with low-profit margins or with big profit margins.
At the same time, you can sell a physical book for $29 and make $2 or sell a Digital ebook for $29 and keep $29(-VAT). As an example.
But also Aliexpress dropshipping has higher profit margins than print on demand. But you can scale both by selling more or increasing prices…but on the other hand, you just could sell more expensive products(high-ticket) in physical form (watch the video below) or instead of ebook courses for 49-299 and even consultation for $1000 and seminars $2500+.
Here is one of the best videos on High ticket items by Anton Kraly | Ecommerce Lifestyle
This video is a bit advanced, but it is a good idea to surround yourself with ideas and people with a bigger perspective.
If you catch some of it that may help you much more than struggling with smaller ideas and smaller margins.
Keep in mind that it takes the same amount of time to build a business with small margins as it takes to build a business with higher margins.
Usually, bigger margins are in higher-priced items and in digital items.
Some of you don’t have the money for this and it is okay. I don’t have the money for this method.
Then it is okay to start small first and later if this type of thing is for you consider it when you have the funds 👍
Make more money selling high ticket items.
10 | Find a mentor
We live in this amazing internet age. Someone somewhere has probably already done something you want to do.
Find yourself a mentor. If you are ready to learn from a Mentor then you will progress so much faster than striving by yourself, trust me I know 🤓.
By following in the footsteps of someone who has already done what you want to do you will be able to skip some obstacles, struggles, stress, and overwhelm and also make more money because you will learn the skills required to get there sooner.
Join the Skillshare Community
11 | Get support
Support is probably one most underestimated features in online business and in business and life generally.
Have you heard that “Anyone can do this” …Anyone can make money, or anyone can make money with this..etc?
I have been here for a while and I have tried to prove this stupid slogan right, but it is false.
Not anybody can do everything. People who take their wealth for granted talk stupid sh*t.
Get support. In many cases, your family, parents, friends, and neighbors may not at all be at the same level of understanding as you are, but this will change in the near future when making money online will become even more common.
It is okay to have people around who don’t agree with you or who don’t want to do same things as you do. that is called life.
Try to find like-minded people even if they are online, this will help you to move forward. Knowing you are not alone is encouraging.
Here is a video by Brendon Burchard about believing in Yourself
You are valuable. It is very important that you know it, feel it and live it.
What you have to offer is also valuable and the potential that is in you!
To make more money you must believe in yourself even when your fruits are not yet visible and you haven’t met your true fan yet.
Get yourself support and support yourself.
Join the Skillshare Community
12 | Choose your customers
Choosing your customers is very important. When starting your online business you will decide who is your target audience and dream customer.
This is very important because you can’t give your energy and effort to anyone.
It is not a bad idea to offer your products and services to people who value what you do and if they don’t, let them go.
Be kind, but let them go.
By choosing your ideal customers you can make more money because they value you, and your work and are willing to pay for what you have to offer (and have a budget to do so).
Have you ever noticed that people with little money are pickier and will return things more often and ask for refunds?
As a business owner that is a drag. These people are called tire kickers. They may ask a bunch of questions and still don’t buy.
This is because they don’t have much extra money they could actually use to buy extra things. They return things they want and buy what they need, which is probably food.
We have to understand why it is and choose customers who can pay us.
When you understand this you will be able to make more money. What I am saying is to ask for the money from those who have it and don’t try to sell it to those who don’t have it.
Trying to do so is also unethical in my opinion.
Related post by Marie Poulin
13 | Believe in yourself
Believing in yourself is very important. This means having confidence in yourself and what you do.
Nobody is confident all the time, but if you struggle with confidence, work on your skills.
Improve your skill one at a time and, you will get more confident little by little.
Related Quotes:
14 | Perfection is a big no-no
Strive for progress, not perfection. Done is better than perfect. If you have read this blog for a while you know that I recommend publishing and sharing before you are ready, get the feedback and re-create on the go.
Your customers are the best people to judge your products and services…and by judging I mean leaving feedback.
Ask for feedback in the form of surveys and reviews and you will be able to improve your products and services much faster to meet the exact needs of your customers.
Sometimes people will share their opinions good and bad without asking. I personally have had luck with people who have bought from me on Etsy and on other platforms.
People shared their positive feedback and left reviews without asking.
On Etsy as an example, it is not allowed to ask for “positive review” and in my opinion that is good. You can ask for a review, but don’t tell them how to review it.
15 | Get help
Getting help is very important in order to become more successful and in order to earn more money.
There is a limit on how far you can go alone and how many hours you can work on your project/projects.
Let people help you. Hire people to help you. In many cases, they will get the job done faster than you because they are specialized in one thing.
I do understand that not everyone can hire help. Try to have a mindset of a person who will eventually be able to hire help 😉
If possible strive to build a team eventually that can run your business/businesses for you.
That way you will be able to focus on what is important to you and on what you are good at when a team of people with complementary skills can do other tasks for you.
And everything will move much smoother, your team will get better and faster things done with which you would alone struggle longer.
16 | Learn to keep your money
Money management is a skill. And the good news is that skills are learnable.
You know how Abba is singing Money, money money…
“I work all night, I work all day to pay the bills I have to pay
Ain’t it sad?
And still, there never seems to be a single penny left for me”
Make sure that you save at least one single penny for yourself before you pay bills or buy anything else.
Pay yourself first.
17 | Know when it is time to let go
Choose one way to make money and stick with it long enough to do what you have to do for it and don’t quit.
There is a thing. People talk about passive income, which in my experience is b*llsh*t.
Everything you start will require attention and maintenance even if you could pay others to do everything for you.
Stick long enough, pivot or pause, have a break, rest, and if it is time to let go then let go.
Few “tips” were not on the list, because they are obvious ones. I will add them here as an extra in case you don’t know about them.
18 | Build email list
If you haven’t start building email list then you should.
Email list is list of contact information (emails) that you can collect from people when offering them freebie and ask them to sign up to receive emails from you.
What this does is when you have something new to offer that they would be interested in, you can let them know with email.
This way you can reach them anytime and directly through their inboxes instead hunting them with ads, social media content etc.
People will open emails when they know, like and trust you and they do if they read your blog, or follow you on Social media and then sign up to your email list.
19 | Use Paid advertising
Paid advertising is the most obvious way to get seen, but it is also costly especially if you don’t know what you are doing.
Spend some time learning this. When your skills improve your chance to earn more money increases.
Ads are scalable once you find out what kind of people are interested in your offer.
It is not “set it and forget it”.
20 | Social media
Social media helps:
- Your brand to get seen
- brings people to your website
- Helps you grow your email list
- Make more sales.
Use social media to attract people to your brand.
21 | Add more income streams
After you master one method you can add other methods too. This way you will be able to keep focus on what you are doing, improve it and just integrade other things in when you are master, not when you are rookie.
Everything has it’s learning curve and this is not the place where you want to mess up by mixing things..because it will take longer when you are jumping from one thing to another.
Trust me, I know.
Before you go few Extra tips
22 | Work On Your Limiting Beliefs
This should have been first on the list, but at the time when I wrote this post I wouldn’t like to admit how much limiting beliefs I had and still have. Many of them may be even unknown to me.
You may also have limiting beliefs that are holding you back from doing, being and having more in different areas of your life.
Here are few examples of limiting beliefs that people tend to repeat to themselves internally.
- I’m not good enough.
- Success is only for others, not for me.
- I don’t deserve happiness or financial success.
- Money is the root of all problems.
- I’m not smart or talented enough.
- I’ll never be able to overcome my financial challenges.
- I’m too old/young to achieve my goals.
- I should always put others’ needs before my own.
- I’m destined to repeat my family’s financial struggles.
- I must conform to societal expectations and norms.
23 | Work On Your Money Mindset
Here is a list of some beliefs you may have.
- Money is the root of all evil.
- I’ll never be wealthy.
- I’m not good with money.
- I’ll always be in debt.
- Money is a source of stress.
- I can’t save money.
- I’m not worthy of financial success.
- I can’t afford to invest in myself.
- Rich people are greedy or unethical.
- I’ll never get ahead financially.
- Talking about money is taboo.
- Financial success requires luck, not effort.
- I’m stuck in my financial situation.
- I should prioritize earning money over personal happiness.
- I’m too old/young to achieve financial goals.
- I’ll never be able to retire comfortably.
- Financial success requires sacrificing personal values.
- I can’t recover from financial mistakes.
You cannot fix what you are not aware of. First step is to catch these beliefs when they come into your mind.
Question them:
- Why I think this way?
- Where does this come from?
- Is it still true for me?
- Why I am holding on to this?
And remember that people of the past are gone and are now someone new, places of the past are gone and have evolved.
You have changed and grown and you are not the same person anymore.
- Do you still want to believe what you believe?
- How does it serve you?
And …
What if the opposite was true?
Summary
As you see there are many moving parts in finding success and making more money.
Let’s recap.
- Bank on skills and expertise you already have.
- Find a sweet spot and make something you like, what the world needs, and what will you can monetize.
- Believe in yourself, and get support by surrounding yourself with like-minded people.
- Obtain the necessary skills or/and hire people with complementary skills.
- Focus on one money making opportunity
- Do more of what brings you positive outcomes and less what doesn’t
- Choose your customers
- Learn to keep the money your earn
- Let go when it is time to let go.
Have gratitude for everything you have now while working on your future goals.
These were my tips to help you make more money. I hope you find this helpful.
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