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Ideas to create additional income streams

by C.M. Tucker

Created on: November 07, 2011

 After one has reached their maximum income potential at one’s primary employer or company, it may be time to create additional income streams. One must decide how much time, energy, and resources are available.   Make a list of things one can do as a service or as a product that would be enjoyable to do.  It has been said, “Do what you love and the money will follow”.

The next step is to figure out what service or product is needed or wanted for the area of operation.  Find out how much competition there is for that product or service.  Can you add value or uniqueness worth the extra cost or effort it would bring?  What would the demand for this business be and what would one have to do to generate demand for it?

Keep in mind that one way of making money is to employ others to do the work where the business owner keeps a portion of the money.  Making money with money is a similar concept.  Each of these two requires knowledge and patience.  Licenses, permits, stock trading, employee laws and insurances can present more work than they are worth for part-time income.

Here’s a list of ideas:  (Some of these may offend some people.  If it’s not for you, then it’s not for you.  Maybe some of these may spark additional ideas that are more suited to one.)

* Shoe shining wench at busy bars.  Dress in attire that reveals a bit of booty without being illegal about it.

* In a small town area, maybe have a fifth wheel mobile trailer that’s an office supply and copier service.  It might include lamination, large format color copies, hard to find office supplies or tools along with regular supplies.  Keep your word about where you’ll be and when.  Be reliable and consistent.

* Sewing machine cleaning and/or repair service with house calls.

* Selling handcrafts at local fairs etc.  (Build a unique image to help promote your wares and go digital to let everyone know about it.  Etsy.com is a great place to sell those items too.)  Such crafts might include glass bead making, soap making, pot holders, hats and scarves, jewelry (a lot of people are doing this), specialty scrubs, quilts, furniture, lawn ornaments, painted mail boxes, flower pens, silk flower arrangements, rugs, etc. 

Also consider a theme.  An old time theme might include items like darning eggs, mirrored wood and glass candle lanterns, a date night candle

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