How to Increase Your Income without Working More – Tips for Small Business Owners

What if we told you that you canearn extra money—without extra work? At this point, time is of the essence, and your energy is better placed somewhere else. But you do need those few extra bucks– whether they’re for personal expenses or to contribute to your business.

You just have to be creative and find the things that you already do and find a way to profit from them. Luckily, we’re sharing a few secrets about how you can do just that.

think and grow rich

think and grow rich

by Napoleon Hill

⏱ 16 minutes reading time

🎧 Audio version available

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Work Smarter, Not Harder

Working smarter, not harder is a life-changer, especially when you don’t have the time to apply any more of yourself. Usually, when people want to increase their income, they choose to work harder. They take more shifts, cut down on their expenses, and suffer from damage to their health and personal relationships.

The key here is not working yourself into the ground and not comprising your health or your life. These tips will help you make that transition from working hard to working smart.

And hey, this means not sacrificing your free time in favor of working more. That takes things like freelancing and consulting off the table, because while they’re profitable, they take time out of your free time and time that’s better spent focusing on your business. That also takes things like writing a book out of the running because a project of that magnitude takes a lot of focus and effort. No, what you want is to monetize things in your everyday life.

Sell Travel Photos

A simple tip to get you started is about something that you already have– in your camera roll. This particular tip is great for people who enjoy taking photos and who travel often.

Whether you have pictures from past vacations or just plan on taking pictures the next time you travel, keep in mind that these precious moments caught on camera may be worth more than you realize.

There are numerous sites online that take these photos. Just be sure to read the terms and conditions for the site before you submit your photos. If you have a good camera, you’re all set to have a passive income heading your way.

If you like marketing, consider investing a little time in becoming active in photography forums online to establish a presence and making sure you’re earning the most you can. And now, without working more, the next time you travel, take hundreds of photos– whenever you can. When you get back, list them for sale and get ready for the cash to start rolling in.

Rent Extra Rooms in Your Home

Have an extra bedroom that you mostly use for storage? Why not benefit from it? Some people make listing extra rooms in their homes on sites such as Airbnb a career. The most work you’ll have to do is clean the room before listing it for rent. Remember, a high-quality room is going to attract better prices and renters who are likely to stay longer or return more often.

Whether you choose to rent it for a few days at a time or for a longer period of time such as a few months, just be sure to take the necessary precautions such as checking for how the taxes for rental income in your area works, as well as whether or not you should collect initial deposits from your renters.

So list that extra room and wait for people to call you.

Sell Your Old Stuff

Everyone has something that they have always meant to get rid of, but either never got the chance to or are too attached to it. What if we told you that you can profit from these items? You may no longer use them, but you can increase your income from them.

You can sell your old things, even from your childhood. This includes things like toys, clothes, and even furniture. This applies to objects more recently added to your life too. The next time you upgrade your electronics, sell the old version. The trick to getting an amazing price is to find the right platform, write a good, attractive description that includes working conditions, measurements, and duration of use, as well as to include clear photos to provide a visual representation of the product.

Make sure your customer service skills are on point. Reply as soon as you can to messages in order to avoid losing interest from a buyer. And there you have it. Your home is decluttered and you have some extra cash without any fuss.

Take The Less Desirable Shifts

When people want to earn more, they think that taking extra shifts, longer shifts, and working overtime is the key. And while that works, we’re looking for ways to earn more without working more.

There’s a loophole here, and it’s taking– not the longer shift– but the less desirable one. A lot of companions and stores offer incentives for working the less desirable shifts. This includes shifts during weekends, holidays, and overnights.

Some people report earning time and a half for working these shifts, 1.5x their base pay! You’re doing the same amount of work, which costs you the same amount of energy and time, but you’re earning a little extra for it.

Monetize Your Hobbies

Getting paid to do what you love to do in your spare time seems like a dream, but it isn’t! You can barely call it work. Now, this applies to people who enjoy making crafts in their free time. This includes hobbies like knitting, sewing, making pottery, and jewelry, just to name a few.

Whether you list them on Facebook or turn to websites or sell them at booths at craft fairs, you’re guaranteed to make a few extra bucks. If you gain a reputation for high quality products, you’ll probably have return buyers and even be able to increase your prices!

You can go a step further and create a YouTube channel about your hobby or work, especially if your business is based on making the products yourself. On this channel, you can film yourself making the items. You can review similar items or tools that you use on a regular basis for your loyal fanbase. It will take a while to build a decent following, but if you persist and consistently upload, the wait will be worth it.

Have Passive Income

Passive income is something you hear a lot when it comes to real estate and similar revenue sources, but those take a lot more effort and money than you have right now. You can have a passive income– from your online businesses. Without putting in hundreds of work hours, you can set up a passive revenue stream. All it takes is a little setup.

Let’s say that you have a blog. This blog is one you’ve enjoyed posting and writing in for years, and it has quite a nice following. Affiliate marketing is your new best friend. It allows you to earn money on the side by creating links for affiliates. It’s incredibly easy to set up. Every time someone clicks your link, you get a cut of the earnings– how big a cut depends on the website.

What you’ll need to do is find the right niche to generate traffic in and occasionally market it using social media or email lists. If you have a YouTube channel, the same applies. If you allow YouTube to show ads on your videos by turning on monetization, your most viewed videos will generate income without you having to lift a finger.

Play Video Games

Video games are good for you– money-wise, at least. Platforms like YouTube and Twitch are a life-savor if you’re into video games or reviewing them. All you need to do is stream your gameplay or provide a voice over. Monetization won’t be the only way you can make money. Other than video ads, you can get sponsorships, donations, and the occasional free moment for promotion.

If you’re not sure where to start, pick your favorite game and do a walkthrough and commentary. You can even invite your friends!

Earn Money Driving

And finally, this doesn’t get any easier. Picture this: you’re on your way to pick up groceries; why not earn an extra few bucks by dropping someone off along the way?

If you have a car, and you enjoy driving, you could be making a few extra hundreds of dollars a month with barely any extra effort on your part. This works great if you spend a lot of time commuting or have extra time between errands.

What’s so great about this is that you can choose your own schedule, the payments come in quickly, and you have a reason to enjoy the great outdoors rather than staying inside all day.

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