Master List of Passive Income and Residual Income Ideas

When it comes to generating multiple streams of income, passive and residual income ideas are the cornerstone of a long-term financial plan. Making money while you sleep lets you pursue other ideas and goals, and if you can set up a bunch of different effortless moneymakers, you don’t have to work ever again.

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Making Money from Amazon MTurk: Tips and Tricks for Mechanical Turk

Photo by @Saigon on Flickr
Photo by @Saigon on Flickr
When it comes to commerce, Amazon is one of the biggest players around- but if you’re looking to make extra cash, Amazon also offers plenty of opportunities. MTurk is Amazon’s gig marketplace, which means they work with other companies to provide small gigs for workers to complete for money.
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Ten Ways to Make Money with Music

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Make money with your music
Jobs in the music business can be exciting, fun, and rewarding, but they’re also tough to get. When your soul cries out for song, though, a music gig might be just the thing you need to create a satisfying career or side moneymaking business. Here are 10 of the best jobs for musicians and those who love music.
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5 Ways to Find New Clients for Your Gigs

The most important part of developing a steady stream of gig income is finding regular clients who will come to you over and over again for your services. Most people who pursue freelance pursuits spend 50% or more of their time looking for work instead of actually working. Here are five of the best ways to find new clients for your gigs.

1- Networking
Networking gets a lot of buzz, but most people do it all wrong. If you’re heading out to networking events and pushing your business card into the hands of everyone in the room after a two-minute conversation that mostly involves “so…what exactly do you do…?”- that’s not going to help. Seriously- when’s the last time you called someone based on their business card information. Looking back through business cards you’ve received- do you even remember meeting half those people? Probably not. Real networking is about making meaningful connections. Talking with one or two people who are genuinely interesting and making plans to get together for coffee or a beer later. Those are the people who will call you when they need what you’re selling- and they’re the people who will refer you if someone asks them “Do you know where I can find a reliable (whatever it is you do)?”

2- Cold Calling
Everyone is terrified of cold calling. We’ll just get that out of the way right now. But the fact of the matter is, cold calling works. When you call enough people, you’re bound to get some gigs. If you’re trying to break into a new industry or starting to expand your gig into a business, you’re going to have to get on the phone at some point and just make those cold calls. (I’ll be doing a post soon about cold calling to help you get better at it- so if you aren’t subscribed yet, you might want to subscribe so you don’t miss that one)

3- Online Advertising
Online advertising can bring in customers when you do it right. There are plenty of options- you can pay to advertise on Google Adsense bars on blogs catering to your field, or you can buy a Facebook ad to capture attention on that site. Create a few different targeted ads and test them out before going all-out with an online advertising campaign.

4- Job Brokers
Job brokers take the hassle out of finding new clients for your gigs, but you’ll make less money going through a broker. Brokers are businesses that hook up freelancers with gigs- they include places like Tutor.com, Odesk, Sitter City, and Elance. If you’re looking for the type of gig listed on these sites, you can register yourself as a worker and either search job listings or wait for someone to approach you. Depending on your specific industry, brokers might take a percentage of your total payment or a specific amount per gig.

5- Think Local
Local advertising is targeted advertising. Put flyers or ads where the people who might hire you hang out. If you’re a trained masseuse, try putting up flyers at a yoga studio or in the local natural health free paper given away at the nearby natural foods store. If you’re interested in tutoring, local schools and libraries are good bets for finding students. An experienced DJ might advertise at wedding expos and events in the city.

Are You Making These 3 Big Mistakes When Looking for Side Gigs?

Everyone makes mistakes (I’ve definitely made my share over the years!) but learning from your mistakes is what helps you move on and get better. Fortunately, with the Web, you can now also learn from *other* people’s mistakes, too, so you don’t have to go through the frustration and embarrassment yourself. With that said, here are 3 of the biggest mistakes people make when searching for a gig to make some extra money.

1- Going after the first flashy gig that comes along.

Trying out a new gig can be fun- and it sometimes pays off- but you should always do your research before trying any new moneymaking scheme. Research both the gig that sounds appealing and a few alternatives, because there may be a better option for your situation than the first one you hear about.

2- Paying money to get a gig.

There’s a saying in freelance writing “The money flows TOWARD the writer” and this applies to other gigs as well. If someone is insisting that you pay cash upfront to get access to a specific gig, run the other way. Paying for information (such as a book about starting a specific type of business) is research, but paying to actually get a gig is a scam.

3- Looking in the wrong places

If you want a specific type of gig, you need to find out where the gatekeepers are for those gigs. Some industries regularly hire freelance workers to complete projects or be part of a larger event, but getting these gigs can seem near impossible unless you know the way in. For example, instead of advertising your tutoring services in the newspaper, where it’s likely to be ignored, look into services like Tutor.com or go directly to schools. If you want to be an extra in a movie, get on a casting list that lets you know when these gigs are available, or seek out mystery shopping companies if you’re searching for that kind of work. In some industries, personal contacts are invaluable, and if you’re starting a service-oriented business, you’ll need to seek out the places where likely customers hang out.

Finding gigs can seem difficult at times, while at other times you might feel overwhelmed with all the possibilities and have trouble narrowing down the best options for you. Keep in mind that living a sweetgig lifestyle is all about versatility and flexibility. You can change your mind- or add an extra gig or two to your work-life portfolio- whenever you feel like it. After developing a healthy on-your-own-terms work style, you’ll become better able to evaluate gigs and find ones that work for you. Like everything good in life, it just takes time.

Selling Your Old Stuff on Craigslist

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Whether you’re looking to make some quick cash or trying to simplify your life (while trying to make quick cash)- Craigslist is a simple and lucrative way to turn the stuff you own into a bit of extra money. This isn’t a long-term gig (unless you want to turn it into a gig selling OTHER people’s stuff for money- but that’s a similar-yet-different kind of plan)…it IS a way to garner fast cash when you really, really need it, though.

The Practical Part of Selling on Craigslist

The process is pretty straightforward- you pull up your local Craigslist page, click on the category of item you’re selling and follow the directions to list it. It’s a good idea to create an account so you get alerts about your sales and can repost them easily if something doesn’t sell on the first try.

The Advantages and Disadvantages of Craigslist

The big advantage is- duh- selling your stuff quickly and getting cash in hand when you need it most (along with getting rid of some clutter.) The disadvantages are that it can be inconvenient to make appointments for people to come pick up stuff and give you the cash, and some things may never sell at all.

Pricing Your Craigslist Items

Pricing might seem like a huge mystery when it comes to Craigslist, but it doesn’t have to be. Search for similar used items in your area or on sites like eBay and price yours about the same. Expect that people will bargain, and plan to get about 10-25% less than the price you ask for.

Finding Items to Sell

The biggest sellers on Craigslist tend to be things like electronics, baby accessories (such as baby swings, monitors, etc.) and camera gear. Things like clothing and books are unlikely to sell because people have plenty of options to get those on the cheap already. Specialty items, such as antiques and collectibles, might do better on a national or international site, such as eBay, because there may not be a huge pool of interested buyers in your town.

Tips for Selling Your Stuff on Craigslist

You’ll get more interest and have better chance of selling at or near your asking price if you make an ad that looks professional. Take a nice photo to post of your item and make sure grammar and spelling in your ad are perfect before you put the ad online. Communicate with potential buyers by email and phone before agreeing to meet them to exchange goods and money- and arrange to meet at a public location (like a coffee shop) if you don’t feel comfortable inviting them to your home.

Ten Gigs for People Who Love Kids

Top 10 Gigs for People Who Love KidsIf you’re looking to combine your love of kids with your love of moneymaking ventures- you’re in luck. There are plenty of ways you can blend the two- and most of these gigs are fairly easy and low-cost to begin.

Here are 10 of the most popular gigs for people who love kids:

1- Babysitting. Go it alone via recommendations from parents you know personally or sign up to be a sitter through an agency such as Sittercity.

2- Entertainer. If you’re a whiz at magic tricks or can sing silly songs that keep kids happy- channel your energies into entertaining at birthday parties, daycare centers or summer camps.

3- Tutor. Help kids reach their full potential by tutoring children in subjects you’re good at. Math, science and foreign language tutors (including English as a Second Language) are always in demand.

4-Teach a Skill. Set up cooking classes for kids, give piano lessons, or teach sewing to youngsters. Whatever skill you already have, you can earn extra cash teaching it to kids whose parents want them to learn.

5-Party Planner. If you can set up a party and keep it going smoothly, you’ll be in big demand as a party planner for children’s parties.

6-Childproofing Homes. Set your focus on keeping kids safe by serving as a childproofing consultant for new parents who need help making sure their home is safe for a new arrival.

7-Baby Spa. Open a baby spa where moms can come learn how to give a baby massage and infants with skin problems can get soothing treatments.

8-Home-based Child Care. Licensing and regulations vary by state and city, but if you have what it takes, taking care of other people’s kids in your home can be a fulfilling and lucrative business.

9-Child Photography. Parents love pictures of their kids, and if you can produce professional portrait or outdoor shots you can make money making kids smile

10- Youth Sports Coach. Use your love of kids and your sports knowledge to teach children the basics of your favorite sport.

Gigs Are the New Work Lifestyle

In the modern world a 9 to 5 job just doesn’t cut it anymore. In fact you might have noticed that two or three 9-to-5 jobs aren’t enough to get by nowadays, especially if you have a family to support, debt to pay off, or a hope of someday retiring. That’s where gigs come in.

Gigs are little things you do to make extra cash between paychecks or sometimes instead of paychecks. Traditionally, the term came from music gigs, a one-time booking a band got to play for a crowd, but it’s expanded into being any kind of part-time, temp, or one-off work outside of a traditional job. A gig can be as simple as a hobby that you’ve turned into a money maker, or it can be an elaborate second career that you do in your off hours. Some people turn their gig into a full time pursuit, while others pursue multiple side gigs simultaneously. You might opt to work your gig for a few hours each month, or a few hours everyday. Simply put, a gig is what you make it.

So if a gig is a side venture you do during your down time, what exactly is a sweetgig lifestyle? Ideally, a sweetgig lifestyle is a way to maximize your potential for making money without having to rely on your employer for your entire existence. You don’t have to quit your job to have gigs, although it’s perfectly fine if you choose to go that route. The real point of having a side gig or two is that you know you’ll be OK if a sudden loss of income or unexpected expense throws your budget for a loop. That’s not the only benefit of course. You’ll also gain confidence and a healthy sense of accomplishment as you turn your skills and hobbies into gigs does that help you lead the kind of life you’ve always wanted to.