Starting Your Business
Extra Income When You Need It
Written by Amber Miller for Gaebler Ventures
In the current economy everyone, even entrepreneurs, are looking for opportunities to earn extra cash. Put your entrepreneurial knowledge to work with these easy tips for earning extra cash.
Tough economic times will come and go in almost every generation.
It makes it hard on all small businesses but especially those proprietors that have just started out or are just turning a profit. There are ways to counteract this or supplement income. Picking up a part time job or continuing you full time job instead of committing yourself only to your business may be an option for some but others need to be there for their company full time and sometimes more. How can a person provide more money into their personal balance sheet in these times or provide income to use in sustaining the business?
During recessions and economic troubles people begin to re-evaluate themselves. If someone gets laid off they think of ways to make themselves indispensable to future employers. One of the easiest ways to do this for most is education. So when times are tough you see a large portion of the workforce seeking higher learning or training that will give them that edge.
What does this have to do with business? Most entrepreneurs I know have some form of education, if it's an MBA great, if they just have a lot of knowledge then that will help to. My first suggestion is to teach.
Share you knowledge
Many small colleges and vocational schools will hire instructors for night time or online courses with as little as an associate's degree. It is decent pay for the hours expended in most cases. With a master's degree you can teach adjunct for most universities. With the push towards online instruction you can often do this in a couple short hours every other night while winding down from your day using your laptop. The pay for these positions and the experience instruction would be business professionals is something most will enjoy and could prove to save their business while sales are less than normal.
Create opportunities
For those business owners still looking to supplement who have no formal education or degrees all is not lost. You can start your own course. You have knowledge that many people want. America is an entrepreneurial culture and there are many eager would be business owners who need or desire a little guidance.
You can get a small classroom and advertise using you career credentials and course material to draw customers. It can be simple, $35 per student per class. Teach one night a week and you could have several students signed up. This could provide you with a modest cash flow that can save you when it's time to re-order supplies.
You can also seek out community centers. Many cities offer courses for adults seeking to learn about money management or budgeting etc. I can think of no better person to teach them than a small business owner who has proven they can manage money.
These options definitely will not replace your business and will most likely not spawn a career change. However, when your budget gets down to a couple hundred dollars you may appreciate a side job that can be done easily from a computer.
Amber is a small business owner with real-world experience. In addition to writing articles for Gaebler.com, Amber Miller is busy running her businesses and raising a family.
Share this article
Additional Resources for Entrepreneurs
Conversation Board
We greatly appreciate any advice you can provide on this topic. Please contribute your insights on this topic so others can benefit.