Business Talk

Making Money Has Never Been Easier…

Selling on Etsy, running a store on Shopify, eBay, Amazon, creating t-shirts, offering gigs on Fiverr, teaching on Udemy…

The list could go on and while making money has never been easier, that’s what’s making it so hard.

The ease at which anyone, anywhere in the world can make earn income has actually made it harder to make money.

Taking blogging for example, ten years ago a handful of people were running blogs and now it seems just about everyone has one that flash ads galore, selling this and selling that in order to earn themselves some commission.

Do you know anyone who doesn’t have an Etsy store? Resells stuff on Amazon or designs t-shirts to sell on one of the many print on demand sites?

It used to be a steep learning curve for anyone wanting to make money online, but they’ve made it easy (and sometimes free), and that’s the drawback. Now you don’t need any skills or money, people are starting side gigs everyday and the marketplace is getting saturated. Some people are doing it for extra money, while others rely on it for their main source of income. Many are folks who lost a job during the last recession and never found employment.

So, should you throw in the towel?

Certainly not… here are some ways I think you can still get ahead of the crowd-

Find a Niche

It’s a cliche I know, but the smaller and more specialized your market, the more likely you are to find people who will buy from you. For example, instead of selling clothes on eBay, how about narrowing it down to gloves, or scarves. Find or make things no one else is selling.

Cater to Your Competition

People selling on sites like Etsy and Amazon probably like to simply things so it frees up their time. Can you come up with a product (maybe an app), or service that you can market to a whole bunch of people aka, your competitors?

Think Way, Way Ahead

Most of the people who made big bucks on all these sites did so when the platforms were fairly new and before the market got saturated. The forward thinking people as I call them. Brainstorm what you feel is going to be the next new craze or something that people are going to need. Just be prepared to work hard, make money and accept that once the craze is over, you have to start the process all over again.

Choose Carefully, Choose Your Passion

I have to admit I’m doing lots of these side gigs and that’s the reason I know it’s getting crowded. I’ve scattered myself thin which only allows me X number of hours to focus on any one thing. I’m realizing that I have to let somethings go so I can concentrate on just one or two and put more time into marketing.

Do you have a side gig? If so, how are you doing? Have you seen a downward turn in profits or upswing? I’d love to feature some gig workers on the site so they can share tips with the BudgetSmartGirl community. If you or someone you know would like to be interviewed, contact me at budgetsmartqueries@gmail.com

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Talk again soon...