How Can I Make Some Money?

How Can I Make Some Money
How Can I Make Some Money

How Can I Make Some Money?

Invest in stocks or commodities.

Buy commodity mutual fund shares or ETFs. Both commodity mutual funds and ETFs can be purchased through a regular online brokerage or an in-person broker. Mutual funds may have management fees and/or minimum investment amounts. Check with your brokerage for details.

Alternative investments. Hedge funds or private investments specializing in commodities are an option. These are highly speculative and leveraged investment strategies, carrying a high degree of risk and volatility. Enhanced returns are a possibility, but there is no guarantee of success. It’s a good idea to work with a financial professional before taking this approach. Read more about these two types of alternative investments.

Another option, just as you would for crude, is to go through the futures contract. Contracts require investors to deposit an initial margin. But again, there is a risk to this kind of investment. If the price rises, investors will profit; however, if the price drops, the investor stands to lose their money.

Stocks and ETFs, along with mutual fund options are plenty. With gold stocks, investors aren’t just limited to producers but also to exploration and mining companies. As usual, it’s a good idea for investors to do their homework and see what the operational risks are for each company.

Consider hiring a professional commodities trading advisory firm. Such a firm invests money in commodities funds for you. Major commodities trading firms include the Vitol Group, Cargill, Glencore and Archer Daniels Midland. One advantage is that you don’t have to commit a large sum of money in order to own a share of a diversified commodities portfolio. The firm will pool your money with that of other investors. Secondly, commodities funds can bargain for lower commissions than if you were to buy futures contracts on your own.

Open an account with a broker. Any type of online brokerage account will give you access to buying and selling stocks. Simply place an order for the amount of shares of the commodity stock you want to buy or sell. After you’ve bought it, track the stock’s price and the price of the underlying security to determine when to sell.XResearch source

Store your physical commodities. Physical commodities need to be stored in secure locations until sale. You can also buy insurance to protect you from a total loss if the commodities are stolen. Both of these increase the cost to the investor and cut into potential gains.

Start a small business.

Start small. Try different ways. Track and analyze your results. Don’t get so caught up on how you’re going to get wildly rich overnight. That won’t happen. But if you can leverage one of the following methods to make money by investing small, short bursts of capital, then all you have to do is scale — plain and simple. You don’t have to overthink it.

Do you have some decent handyman skills? Are you a great wedding DJ? You might try offering your services on sharing economy websites, such as TaskRabbit or Thumbtack. Note that you may have to work odd hours or change plans when work comes your way. If you’re lucky and have skills that are in demand, you may be able to build a reliable base of clients who regularly seek your services.

Rent out unused space. Have extra office space or a conference room that often sits idle? Rent it out on a site such as LiquidSpace or PivotDesk. If you own a retail shop, consider renting extra space to a complementary business. For example, if you have a toy store, find a local craftsperson who makes children’s clothing.

You may also want to investigate angel investors to secure private seed money for the company. Most angel investors are your friends and family members, but others may be interested in helping fund your enterprise. There are also crowdfunding opportunities through groups like Kickstarter and Indiegogo.

Think about how you can zero in on a specific audience for your products and how the business you build can serve them. If you already have a sizable audience (a blog, a YouTube channel, or an Instagram account), maybe you can even find a way to base your business off of that existing audience.

You can make your own products to earn money. Research ideas that suit your skills and interests, then start making soap, candles, pottery or jewelry. Once the products are ready, market them online via social media and in-person through local venues.

Find a mentor. Back in the day, an apprenticeship was a common way for a young, aspiring professional to learn a trade from a master. See if you can find a mentor—someone who has achieved what you want to achieve—and ask them questions and maybe even shadow them. See if they’ll teach you the ropes, while in exchange, you help them with their business.

Become a consultant.

Next you need to start networking online. Sign up for online communities related to your industry and engage with people there. Set up professional social media accounts (especially LinkedIn and Twitter). Start following and engaging with other professionals who might send referrals your way.Networking is an ongoing process that you can’t give up on. If you want to become a highly paid freelance consultant, you can’t let your current work bog you down. Network consistently so you’re always on the lookout for better, higher paying clients.

You’ll need to analyze your niche and examine your existing network as you strategize how to find consulting clients. From there, you need to get into the business of marketing your consulting services and understanding exactly how to sell to prospects.

Join a mastermind. Entrepreneur Jim Rohn is attributed with saying, “You are the average of the five people you spend the most time with.” If that statement is true, then surrounding yourself with other successful consultants is crucial if you want to make more money. Joining a mastermind is a way to find like-minded, ambitious professionals you can learn from and who can hold you accountable. You can even find free groups. I’ve joined quite a few business masterminds simply by searching for my industry in the Facebook Groups search:

Join LinkedIn and Facebook groups your audience frequents, write and share blog posts highlighting your expertise, and attend meetups or conferences in your area. Be everywhere and talk to everyone who’s a good fit for your offering. No one’s going to sell you as well as you, so brush off that elevator pitch and get ready to sell yourself anything but short.

Getting into the consultancy business does not translate to instant earnings for you. You have to keep an open mind as a consultant and build lasting relationships. These relationships will over the years stand as the backbone of referrals as well as new clients for your business.

Rest assured, if you’re good, people be willing to pay you as a consultant. So don’t commit yourself to anything that’s not 100% secure. Find the best method from all these listed above to make money as a consultant, and don’t be afraid to use more or even all of them.

Share your knowledge by conducting Workshops/seminars or courses the ones like NLP Courses at Watt Works and can charge the audience a nominal fee and do consulting at a general level and give few tips here and there. One can surely take a few questions from the audience and discuss them in depth. If you do your job well, for sure you shall get a few long term customers then and there.

DjMondo

DjMondo

Alaile Monday Oluwaseyi, professionally known as DJMondo, is a Nigerian record producer, disc jockey, graphics designer, pianist, and songwriter.

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