You have decided to start an online business cause you feel it is easy to start and even easier to earn money online, right? Wrong you are if plan to enter a business only to make money! Now you might ask “what’s wrong in starting a business to earn money online” or “isn’t it normal to think about money while planning a business?’
Nothing wrong and yes, quite normal but the point I am trying to make here is, if you launch a business with money-making as the sole objective then you are most likely to be disappointed and dejected soon. And lastly, if you believe it is really easy to earn money from a newly launched online small business, then seriously, you need to brace yourself for some tough situations ahead.
Here I discuss 5 significant reasons why you should STOP thinking about money, and instead what you should do to earn money online from a small business.
Excessive Focus To Earn Money Online Can Distract You From The Business Goal
You have started an online business with an objective in mind and you plan to work hard to meet that goal. After a certain period, you realize that the plan is somehow not working. Now that you are desperate to earn money, because you have resigned from your cushy job, you end up taking business decisions that don’t align to your original business strategy.
Let’s explain with an example; you launched an e-commerce store that sells refurbished home décor items. After a few months of running the store, you are disappointed with the muted sales figure. So in a desperate attempt to boost sales, you decide to include some fast-moving consumer goods to your e-store inventory. You never realize that in your desperation to earn money online you are jeopardizing your original business plan and creating confusion for your existing and potential buyers.
You Fall For Dubious Offers To Desperately Earn Money Online
Remember those e-mails that promise to do wonders for your business with their awesome digital marketing strategy at a surprisingly cheap rate? How many times you must have come across social media posts that offer genuine database of 10,000 high-profile business contacts at throwaway prices?
Deep down inside, you know these so-called amazing offers and cheap rates can’t be true, rather illogical. And yet you end up spending money on dubious deals because you are in a hurry to earn money from your just-launched internet business.
You End Up Spending Money On Unnecessary And Expensive Purchases
A friend suggests your business is not shooting up because of a simple flaw in your website design. Then another friend recommends your digital workspace needs an Alexa, a wireless printer and other latest gadgets to prove yourself a smart and efficient entrepreneur.
So you end up hiring an expensive web designer to solve those little snags which otherwise could have been solved by a freelancer too. You also decide to buy few expensive items when in reality you could have managed with cheaper and even refurbished options.
Why? Because you are eager to boost your internet business and earn money online right now!
You Indulge in Unproductive Networking
Be where your customers are: social media; you must have heard it umpteen times. But now that you are running out of options to make your business work and earn money online, you decide to hit the social media and make it work at any cost. While social media is perhaps one of the powerful tools to boost online business its erratic usage can cause more harm than good.
When you make a desperate attempt to earn money and use social media solely for that purpose, you start posting irregularly on all social media platforms. This way, without a proper social media strategy in place, you are most likely to end up with unproductive networking. Trust me, it shows when you make a heartless attempt to connect with people on social media!
You Easily Get Demotivated And Depressed
And finally comes the heartbreak! Now that you have hurriedly exhausted all options to boost your internet business, you tend to feel anxious and demotivated. Often this can lead to an early burnout as you are left with little energy (and money!) to pursue your dream. Oh, this situation is never desirable.
By now you must be convinced that it is not a good idea to think about money only when you are trying to establish an online business. However the next question that invariably arises is “how do I meet my monthly expenses?” Quite a logical question. You need to earn money to run a household and a digital office too.
Here are my favorite side hustle ideas, which can help you earn decent money every month, without compromising on your business schedule.
Cut Down Expenses And Manage Money Smartly
Trust me it is indeed one of the perfect ways to earn some extra cash. You can start by skipping one or two weekend lunch at expensive restaurant, giving up that pricey gym membership and yes by taking a close look at your investment portfolio. Shift your stocks and equity based mutual funds to fixed return investment to earn monthly interest income. Consult an investment expert to guide you in the right direction.
Monetize your Skills
A good writer? A perfect photographer? An awesome graphic designer? There are umpteen online platforms where you can find suitable freelancing opportunities matching your skills. It’s important to negotiate a fair price depending on your level of expertise.
Rent a Space
If you have an extra room or workspace, then renting it out is perhaps is one of the best ways to earn money without hassle. Put up a post on Airbnb and you will soon start getting good offers.
Be a social media manager
Have a good social media following? Do people love to read your posts and share your tweets? Then you can easily earn money by managing social media for small businesses.
You can earn decent money as an online teacher, trainer or tutor. You simply need a Skype account to connect with students from any distant location.
Take Up A Part-Time Job
If you are looking to earn a fixed income every month then a part-time job is the sure way to do so. The only thing is you might need some real contacts to get a suitable part-time job, especially if you are out of a job for a long period.
Sell Handmade Products On Etsy
Good with art and craft? Then Etsy is the best platform to sell exclusive handmade items.
Start a Food Business
If you are an expert chef, a trained baker, a meal planner or a nutrition coach, you have endless income opportunities to explore, few of which are food delivery, meal-kit delivery, online cake and cookie selling, running a food truck, personal cooking, etc.
Offer Personal Shopping Service
Love shopping? Then you can perfectly play the role of a personal shopper, especially if you live in a metropolitan city with busy, wealthy households who don’t have the time to visit grocery stores.
Be a local tour guide
Love interacting with new people and also love traveling? Then try this option. Plan an exclusive tour like a heritage walk or a midnight walk, publish and promote it on social media. There will be many takers for your tour service!
I would like to conclude with a beautiful quote “Either I will find a way, or I will make one – Philip Sidney”. If you are indeed serious about making your small online business a huge success then shift focus from money and aim to make a difference. You will definitely work out a way to earn money and enjoy the amazing entrepreneurship journey!
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