Creating additinal income streams

Discussion in 'Investment Strategy' started by Hanso, 11th Mar, 2016.

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  1. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Private tuition. Being an engineer, I would imagine you would be comfortable tutoring maths/science up to a certain year level...

    I would steer clear of year 12s due to your work schedule, and you really have to understand the year 12 assignments and likely exams well in order to be a great tutor.
     
  2. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    You can get a Taxi licence !!!!
    Bus licence !!
     
  3. Heinz57

    Heinz57 Well-Known Member

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    Reno a fixer upper for profit or rent?
     
  4. Sonamic

    Sonamic Well-Known Member

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    Casual bar work?
     
  5. Noobert

    Noobert Well-Known Member

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  6. Ed Barton

    Ed Barton Well-Known Member

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    IMO most of the suggestions are impracticable. Casual check out chick, delivery driver, bar work etc are probably going to require being available more often than every other month. At best you'd probably get one few hour shift a week for the very busy period or when someone else is sick.

    Airtasker/Gumtree could be ok where people want labouring done for a few days next week type scenario.
     
  7. Xenia

    Xenia Well-Known Member

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    MLM business will give you recurring income if you work it well. Most people who do it have a lottery mentality - wrong mindset.
    If you treat it like a real business and focus on prospecting and training on your days available, you may find a huge pay off.
    Choose an upline who is active, does regular training (once or twice a week) and will do follow ups for you.
    Stay away from companies that sell things you have to purchase stuff regularly - waste of money.
    Ensure there is no regular capital outlay on your part - only initial set up.
    Focus on the business never the product. The right mindset is key to getting these off the ground, think big and leverage or stay out. It's all mindset - they will throw back all your stuff and exactly who you are in your face so be prepared for some personal development and growth, or leave it alone, it wont work if you are not growing with it.

    MLMs are awesome training, I have reached executive level in one of them, still in it but not active, the training in these business are what gave me the skills to go from mixing test tubes in a lab to being an entrepreneur and building a million dollar business.

    I prefer real businesses above MLMs (where I actually own all the assets) but real businesses need full time, over time, hard work attention and take years to get to a level where you can work 4 weeks off and leave it alone. An MLM may work better in your situation at least to begin with and will certainly give you residual cash flow.
     
  8. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Getting a truck license was also suggested in a similar thread recently.
     
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  9. bob shovel

    bob shovel Well-Known Member

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    Great idea! There is an airtasker/agency type website for truck drivers.flexible and casual
     
  10. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Something else that was suggested recently was getting your blood collection qualification (it's a short course and you can then do adhoc work)
     
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  11. Hanso

    Hanso Active Member

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    Thanks for the all the suggestions, definitely plenty of options to look in to now.
     
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  12. Blacky

    Blacky Well-Known Member

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    Not at all. Many bars/cafes have a very specific 'peak' period which they struggle to fill. Most people want consistant, regular and known shifts. There is an opportunity to work reasonably short shifts (2-4hrs) to help cover the peak - but no more. You can usually get a premium for doing so as well.
    Also service places would love to have someone 'on call' in case of emergencies - even if you are not available all the time.

    Youll never know if you never ask.

    Blacky
     
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  13. bob shovel

    bob shovel Well-Known Member

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    Yep! Defs

    In today's day and age casual work is very flexible and if you can tie your shoe laces you're in demand!

    Once you ask around you might be surprised.
    I spoke to an old boss once as a friendly chat and catch up, not sniffing for work but he ended telling me he had work for me! I got about 20hrs work at $35/hr cash.mostly at home too
     
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