I’m always interested in earning more income and diversifying the ways I make money. I’m fascinated by the ability we all have to leverage the power of the internet, create active and semi-passive income streams, and start virtually any online business we desire with unlimited levels of potential. Meaning, whether you just want to start a side business or website and earn an extra $250/mo from working a couple hours per week, or you want to quit your job and replace your full time income by working your ass off, the potential is there. Never before have we lived in a time where that is easier than it is today.
Join me below as I embark on testing different income methods, all leveraging the internet. I intend to take this extra income I make, and invest it in new investment vehicles to put my dollars and cents to work for me.
What I realized is that it is very easy to end up with an army of dollar bills, tireless employees, that end up working much harder than you do. – Mr Money Mustache
I consider everything affiliate marketing, after all it’s just marketing or referral based selling… something we do everyday via word of mouth, loving great products that make our lives easier, or just talkinjg about the latest and greatest in general.
Local Lead Generation
Developing geo-local digital assets we own and control, all while creating the ability to deliver high quality customers to local businesses and service industries in any local area.
Local Travel Website
Most people either grew up in a city they know well, or traveled somewhere as a kid. We can leverage this intimate knowledge of a particular area, and learn to create an evergreen resource to support others traveling to the area. This can include directory sites, travel blogs, and deals sites as well.
These will be niche informational sites, either product based or topic based info sites. This will also spill over into ecommerce/affiliate marketing, but will exclude drop shipping for the time being. We want the ability to operate semi-automated stores, but be able to stay lightweight and mobile during these income case studies, so ordering product and adding overhead will have to wait until the time comes in a future experiment. (we want to measure demand and be sure we can make sales in an evergreen industry before investing a substantial amount of capital)
Amazon / Ebay Affiliate Ecom Stores
We want to experiment with different industries and niches, but we don’t want to become a drop-shipper and e-tailor (online retailer) and source expensive products or store large inventory just yet. Ebay and Amazon provide us with a huge array of products to choose from and earn a commission from every sale… while we test. Way back when, I used to earn a full time living from a portfolio of websites like these. Now I’m curious if I can fire up the creativity engine and at least earn some extra side money to invest in something else just for the fun of it! 🙂
Adsense Informational Sites
Everyone knows something, or has had experience with something in their lives. Put that knowledge to work for you by creating a resource that other people can use to help connect with others sharing their problem, and help them solve it, just like you’ve done in your own life. I’m going to take a slightly different approach with the first couple of test sites, and just create something around topics I’ve been interested in as of late.
Passive Income (Interest Income Specifically)
I decided to link this up here, as well as in the investing portion of this website. Some people classify Interest Income differently, and it was making it harder to find than it should be. Personally, interest income to me is completely passive (I don’t count an initial learning curve, like learning/managing Lending Club for instance) in most cases, and is considered investing to most.
Lending Club has been really good to me so far on a small portfolio, earning me > 16% on my money to date. I’m currently siphoning out my remaining funds as quickly as I can to get started on my first real estate investment, but it remains one of the more lucrative ways to earn interest over these 1% savings accounts these days.
I realized I was being an idiot (perhaps hypocrite even?) with certain portions of savings by not utilizing investment tools like Betterment that we all have at our disposal. For instance, I started using Betterment because I know I have a snowmobiling trip coming up in February of 2016. It costs about $1500 and I’ve already set the money aside so it’s fully funded. What I never thought of, is I could have an extra $120 in spending money by the time the trip rolls around if I would’ve simply transferred it into betterment instead of my savings account. Now don’t get me wrong, I absolutely love my Capital One 360 sub savings accounts, and the way it allows me to organize my savings completely stress free is beyond amazeballs. But trading .09% for 7-8%? Haha Come on man…