When you have an entrepreneurial mindset, and an interest in starting a business…
Working a standard 9 to 5 job can feel almost like exploitation.
You're working to “make someone else rich.” It's their company, not yours.
But unfortunately, there are always bills to pay and groceries to buy. In many cases, the best way to take care of these things is to work a regular office job, even if you're not into that idea.
Even if you don't want to start the next billion dollar company, working a 9 to 5 job doesn't mean your income has to be limited to your salary alone.
You can find other ways to generate extra income, too.
Whether you're playing the stock market, or starting a lucrative side business in your spare time, you can start taking steps toward making yourself financially independent from your day job. Someday, you might even be able to quit completely.
In a recent article from Entrepreneur, investor and consultant John Boitnott offers up two solid ideas for making money outside the office.
Invest Wisely
Navigating the stock market can be tricky. It’s also a way to quickly increase your income, provided you know what you’re doing and you have the extra time and energy to devote to becoming good at it.
Many entrepreneurial-minded people are skilled at spotting a solid business concept and putting their money into it. They keep an eagle eye on the performance of a wide range of different stocks and industries, much the same way a football fan might pore over stats and standings of their fantasy team.
If you’re completely clueless about the stock market, put serious time into finding a financial expert who can direct you on the best investments to reach your goals. Once you have the extra income, you can also consider investing in real estate or rental properties to boost your monthly earnings.
Start a side business.
Once your day job ends, your side hustle should begin. With today’s technology, you don’t have to invest in a physical office and a team of employees to start a new business.
Keeping your job and becoming a millionaire may mean toiling away night after night to build your client base to build a steady revenue flow so you can leave your salaried position behind someday. Make sure your side business doesn’t pose a conflict of interest to your day job while you still rely on it to pay your bills.
Few millionaires are made overnight. It takes years of hard work and forethought to reach that type of income level. Like most people, if you want to generate more money, you’ll need to do it while you’re working for someone else, at least at the start. Keep in mind just how much work it is to set up a new business, learn what your customers want as well as create a product or service that matches that.
Sacrifice is the name of the game and it’s not right for everyone. It’s still attainable though, as long as you stay disciplined, think quickly and persevere over the long haul.
You can find more ideas for earning some extra cash over at Entrepreneur.
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