Warning About Money Questions
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| January 16, 2009 03:48 AM |
That said, I'd like to say a few tips how I earned some cash (couple thousand bucks in a year).
1. Make a forum of your interest. In 2006, I made a forum for computer coders / programmers. I had a VIP section where each person could purchase this for $10 a pop. I had 70 VIP members and over 4000 forum members. Always start out the forum by writing good content, or having good content. Good content is where people will always come back. Also, advertise the forum a bit, such as in your signature of another forum, or elsewhere (make sure it's allowed!) By month 2-3 your forum should start picking up pretty rapidly. Then sell it afterwards! Now that is what I call making money doing the things you like!
2. Open up a Wordpress Blog and blog about the things you like. Like a forum, but with less community interaction. As your interests grow in the blog, so will the members reading / subscribing. Make sure to use good grammar and try pumping out a 300 word blog post every day. If people think it is interesting enough, there will no doubt be users flowing in in the numbers.
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Other Answers (7)
January 16, 2009 03:44 AM
This is a question that everyone wants an answer to, so there is no "one shoe fits all" way to solve this question. However, there are some ideas that may work for you. Idea 1: Make a new and different board game or card game or something of the like. If you make a game that people really like you might land a contract with somebody to sell your game.
Idea 2: Basically, there is no easy way to make a lot of money quickly except for this: have a brilliant idea that no one has though up before, do something amazing none have ever dared, or create something that has never been seen.
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January 16, 2009 04:25 AM
Two ideas: 1. Do what you love, and the money will follow.
If you do not truly like what you're doing, then why would you like the money you make? It's important to really love what you do, as then you will not be making the money for a long time. If you like to write, then write. If you like to sell, then sell. If you like to save people's lives, then help by saving a life.
2. Grow your network! Your Network Equals Your Net Worth!
Read this:
http://www.cnbc.com/id/22358404
Think about it, it makes sense. The more fans you have, the more potential believers you have, which leads to more believers when you start a business. More believers in you, equates to more customers.
Just think how many people believed in Jason before he started Mahalo, his fans emailed me, "I was like I don't know him..," but I'll give Mahalo a try, and then I got to know the service, and gave it a try, and told more people. This is just because one person who I met along the way believed in another! What I am getting at, it's your networking that will help you make money. Get out there, and talk to people!
It's all about who you know! The richest man in the world is Warren Buffett, but do you know him? What if you did? If you did, you could sit down with him and discuss ways to make some extra money. He might just help you out, but that's only if you know him, and he feels comfortable with sitting down with you.
Facts are facts: You do not have to be creative, or have the next big idea to make a lot of extra money. You only need a few things:
A. Passion, a passion for what you do, believe in, or sell.
B. Persistence, keep up with what you do and don't give up.
C. Luck, be in the right place at the right time.
Lastly, you have to network! If you keep to yourself, and nobody knows about you, then you are not working for it!
Source(s):
http://www.cnbc.com/id/22358404
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January 16, 2009 04:43 AM
If you have some money and good credit, now is a good time to buy real estate. Home prices are low given the number of foreclosures out there. If you choose wisely, flipping a house may not require a lot of hard work. You could live in the house while working on it then flip the property for a profit. Check out this Mahalo page:
http://www.mahalo.com/Flip_This_House
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January 16, 2009 04:55 AM
Do what you normally do and get paid would definately qualify as "little effort", since you'll be making no extra effort. That being said, you need to examine yourself: what do you like to do? Hobbies? For example, I'm a programmer, and I am a gamer. Together, I find it really fun to make quick, small games (and "test" my code afterwards, of course! :D ) and it would be a good idea for me to get the SDK for Apple iphone. Making an application for the iphone is not the hardest thing in the world, and it pays....millions. Read more about it here: http://www.washingtonpost.com/wp-dyn/content/article/2008/12/29/AR2008122902082.html
Now, similarly, if you just like games and not coding, try to sign up for pre-beta testers for games; if you love painting, make some "masterpeices" and try to sell them in speciality stores or websites such as ebay.com or http://www.artbyus.com. If you.....you get the idea.
If you really can't think of anything to do at all, feel free to reply and give me a short list of your favorite activies and i'll see what I can come up with!
Hope that helps.
Harry
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January 16, 2009 02:52 PM
With the markets currently at their lowest level in years, now is a good time to buy good solid stocks which have been negatively affected by the economic downturn. There are many, many companies that have had their stock prices drop significantly but are good solid compies with great potential for return.
The first thing to remember when purchasing stocks is to do your homework. If you are interested in a particular stock, be sure to find out as much information as possible about that stock befoe making a purchase.
Several strategies for limiting risks in purchasing stocks are:
Buy mutual funds. Mutual funds invest in many stocks rather than just one. Not putting all your eggs in one basket if you will.
Another method of limiting risks in purchasing stocks is to borrow money for the purpose of investing. This enables the envestor to leverage the borrowed money to gain any returns, and unfortunately any losses as well. Typically money paid for interest on money borrowed to invest is tax deductible.
Finally, another strategy for limitiing risk is to buy companies which distribute dividends. This could cover the interest as well on borrowed money used to invest if the dividends paid are generous enough. The dividends can then be reinvested automatically via a dividend reinvestment program (drip) and dollar cost average future purchases.
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You hear that a lot from the motivational and personal development people.
The reality is you might make a lot of money if your passion is also something for which there is a paying market, which is not oversupplied, and you are skillful enough as well as passionate.
What "skillful enough" means depends on the amount of competition for the available places. You can probably make a living as an accountant or a programmer if you are in the top 10% of your high school at math. But you probably can't make a living as a tennis player if you are only in the top 10% of tennis players in your high school. Top 0.1% in the country maybe.
If your passion is playing chess, there are maybe twenty people in the world that make a better living at that than they would from a typical job writing software. Though their are folks that make some money from running businesses around chess, coaching, organising events etc.
Most classical musicians would love to earn a living purely from playing, but in fact make most of their income from teaching music.
Ditto actors and actresses. A small proportion make it big. For most, even good ones, it's that old song... "LA is a giant freeway... and all the stars that never were are parking cars and pumpng gas..."
I knew someone who paid one of these personal coaching types to help them figure out their dream career. The answer was being a house plant consultant. i.e. Advising people on choosing and caring for plants. Needlessly to say that didn't last long, and she found something else to do.
If you passion is poetry or helping the homeless, by all means follow it. You may have a wonderful satisfying life that you look back on with pride. But don't expect to make much money. In fact, expect to need a day job to keep your family fed unless you reach the upper heights in those fields.
I'm not saying this to be a killjoy, but so you don't waste a chunk of your time and money on things that won't deliver what you were told they would.