Often times, some of us are too scared to jump straight into business for ourselves, so we latch on to the security of the 9 to 5 job. If you are trying to purchase that first income property, how will you generate enough income to put cash into it? Most often than not, it’s easier to minimize expenses rather than get a raise to increase income at the 9 to 5 job. However, for those looking to build up a substantial cash account to use in the next investment property deal may find that it’s not only easier to cut personal expenses, but it makes even more sense to start a low-cost home-based business to generate income outside of the regular job.
Yes, it’s difficult to quit the full-time job and go straight into business for yourself, but who said you had to? We all have the opportunity to choose how we spend our off-hours. The fact is, most of us have enough hours left in the day to generate enough income to make the first investment deal.
Here are three businesses that anyone can start right away with limited start-up costs that will generate enough income to get the investment career underway:
Professional Speaker
Some people have a gift of public speaking, yet they don’t even take it as an opportunity to make it a business. Most people have a difficult time in motivating themselves, so their companies hire outside speakers on topics of sales, marketing, and leadership just to empower their employees on these topics. If you have the technical knowledge and love speaking, why not take this as an opportunity to become a professional speaker? Corporations will throw a lot of money at motivational and technical business speakers, so why can’t it be you on the receiving end?
Professional Writer
Especially in this day and age, with the importance of building up web-based content for the sake of search engine optimization, there is a great demand for those who can write at a professional level. Take this to heart if you have technical knowledge about a particular subject and love to write. This is the picture perfect home-based business for the fact that you can write from your bedroom, a coffee shop or when traveling. Being a professional writer seems to have the most flexibility of any home-based business that requires you to actually do the work yourself.
Business Consultant
Small businesses tend to hire business consultants for a few reasons: either they don’t have the knowledge in-house, or they are having a difficult time making a decision and need outside advice. Again, if you have the technical business knowledge and enjoy consulting, this can be a great home-based business to generate income outside of the 9 to 5. Business consultants can range from topics of finance, bookkeeping, marketing, sales and operations, but in reality, the list goes much further than this. There is an unlimited range of technical topics for which you can consult on. Find your niche and begin seeking clients that need your help.
The majority of people will give in to the fact that they work a 9 to 5 job and the only way to make more money is to get a raise. However, for those of us in the minority, we realize that we have many hours outside of our regular job that will allow us the opportunity to raise our income.
It all depends on how you view your life and situation. You can either make good use of your extra time, or not; but for those who use our time wisely and to the highest value, we are the ones likely to make our first real estate deal and begin the path to financial freedom first.
