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Making money is tough. There is no denying that trying to dig yourself out of the minimum wage rut that most of us find ourselves in can be hard, but it’s not impossible.
Almost all of us have found ourselves stuck at some point in our lives, existing paycheck to paycheck, hoping that somehow we can gain enough experience to haul ourselves from minimum wage struggle to comfortable living. In fact, over 12 million people in the U.S. are living in poverty despite working full time, according to PolicyLink, an organization that advancesracial and economic equity. Even before the pandemic, 78 percent of all workers were living paycheck to paycheck, CareerBuilder found in a 2017 study.
If you’re tired of spending your days weighing whether you can afford to put gas in your car or be able to make your insurance payment, think about starting an online side business. It might seem like online side businesses are for the highly skilled, but we all have skills that are valuable to someone. Don’t let yours go to waste when you could be harnessing them to improve your bank balance and help others at the same time. Here are three ideas for how you can earn extra cash with an online side hustle.
Freelancing is an excellent way to build your income because it’s flexible. Unlike full-time employment, freelancing means that you can choose your hours and clients, making it a perfect side business if you’re not able to commit a dedicated number of hours each week.
As of October 2019, there were 57 million people in the U.S. alone who were using freelance work to boost their incomes and build their businesses. CNBC reported that freelancers doing skilled services earn a median rate of $28 an hour — more per hour than 70% of workers in the economy overall.
Freelancing isn’t limited to professional skills. In fact, freelancing can be so varied that it is possible to offer a service for almost anything, providing there is a requirement for it and you can build a client base.
According to Preston Lee, founder of Millo, one of the quickest ways to find new clients is via job boards. “If you don’t have clients, you don’t have a business, and if you don’t have a business, you’re just a hobbyist. Getting your first freelance clients will give you confidence, momentum and traction from which you can find success more quickly.”
So how do you get started with freelancing?
Find your niche. What skills do you have that other people or companies might need? Can you write engaging content, are you great with graphic design, can you offer administrative skills or do you have a knack for accounting? Find a skill that you can offer to solve a problem for your potential customers. The more valuable the skill, the more profitable and in demand your freelancing will be.
Market yourself with a website and portfolio. Start a website to get your skills noticed. You can design your own or, if you don’t have the skills or funding for that, join a platform where freelancers and clients can find each other. Whichever you choose, make sure potential clients can review your work and decide if they want to hire you. Your portfolio should showcase your skills and show clients why they should choose you. If you haven’t had previous clients, create your own examples to highlight what you can do.
Price it out. How much to charge can be a conundrum: You don’t want undercharge and end up putting in a ton of hours for little return, but if you overcharge you’ll struggle to find clients willing to pay for your services. Research how much you should charge. Review the services you’re offering, compare them to competitors and find a price range that matches your level of competency.
Blogging is flexible and doesn’t really cost anything to get started. It may seem like blogging is reserved for those with incredible writing skills and a great understanding of marketing. Although you do need to have some writing skills, what you write about is just as important as how you write it — the actual content is what draws in readers. It’s also what makes or breaks a blogging site. You could be the most skilled writer in the world, but if you don’t understand what your readers want, then you’re never going to find success. The key to starting a blog is to find your niche.
So how do you make money through blogging?
Affiliate marketing. Affiliate marketing means that you link to a brand or product in a blog post, and each time one of your readers clicks that link, you can earn a little money. You can’t just link to brands randomly and get paid, but you can sign up for an affiliate marketing network.
Sponsored content. Once you’ve built your brand and secured a good number of subscribers and readers, you might even be approached by brands and companies to write about their chosen product. This is a great way to make money from your blog.
Pitch to publications. If you’re very knowledgeable in your chosen niche, there’s no reason for you to shy away from approaching publications and getting your blogging business out there. It could result in you getting into paid publications.
The online course industry is continuously growing one because it provides people with the ability to new learn skills in a flexible and more in-demand way than traditional classroom learning. We all have skills that other people don’t possess but want to learn, and with a little work you can create your own online course to give you extra income each month.
The beauty of starting your own online course is that you don’t have to be a qualified teacher and as long as your course has high-quality content and provides people with an in-demand skill for a reasonable price. There’s no profit without a little hard work, though — you do have to create the content, which might be time-consuming. Here’s how to get started:
Choose a subject. What are you skilled in? Consider what skill or knowledge you can teach other people that is so valuable they would pay to learn it.
Buy or build. Before you can get started with online courses, you need to decide if you’re going to build your own website or use a hosted platform for online courses. Research the cost of both options and weigh the pros and cons before deciding.
Marketing is key. Good marketing is essential if you want to draw in potential clients. If you haven’t had your own business before, it’s important to know the most effective marketing techniques. Do some research to make sure you’re up to date and knowledgeable about the latest marketing strategies.
Starting an online side business isn’t impossible and doesn’t mean you have to take a huge financial risk by giving up your day job. With a little hard work and commitment, you can start making extra income so you can make paycheck-to-paycheck living a thing of the past.
Diversify your income for financial success in 2020💰 Practical ways to diversify your income and increase earning potential. 👉 Ways to make money online 👉 Offer specialized services like consulting and freelancing 👉 Invest your money The best part? You can start implementing many of these ideas as soon as you’re done watching this video 😀 Here are 8 practical ways to build extra income streams through opportunities already around you: ✅ Sell Your Skills – Start by freelancing and work to upsell your services! ✅ Create and Sell Your Own Product – create a digital or physical product to sell ✅ Reselling – Try reselling online at a significant markup or utilizing your marketing skills to sell someone else’s products (think dropshipping, affiliate marketing, or selling advertising space) ✅ Gig Work – running errands, helping people move, delivering food, and other simple services. ✅ Invest – real estate and investing in broad index funds are popular ways to invest. **Make investing and personal finance decisions with the help of your certified financial expert** ✅ Use High-Interest Savings Accounts – keep a 3-6 month emergency fund but if you put it in the right savings account you can still earn a little money every month. ✅Cut Down Expenses – cutting regular expenses and pay off your debt! ✅Get Lifetime Deals – Instead of charging monthly subscriptions, we bring you lifetime deals on SaaS products. See what’s in the store: https://appsumo.com/browse/ Personal Finance Success in 2020 💸: https://blog.appsumo.com/diversify-yo… 🔔Never miss another video — subscribe 👉 https://social.appsumo.com/subscribe Tell us your best diversification strategy in the comments below 👇 Connect with us: 📝Blog – https://social.appsumo.com/blog 🗣Facebook – https://social.appsumo.com/fbgroup ✍️Twitter – https://social.appsumo.com/twitter 📸Instagram – https://social.appsumo.com/instagram
Brothers Paul and Jim Van Doren opened up a storefront at 704 E. Broadway in Anaheim, California, on March 16, 1966. They manufactured shoes right out of their shop and named their fledgling business the Van Doren Rubber Company.
On opening day they sold 12 pairs. And 50 years later, that company is better known as Vans, and it’s generating $11.8 billion a year in revenue.
This is the story of how they became one of largest shoe brands on the planet and what marketers can learn from them.
In the early ’70s, a group of surf rats were redefining the emerging sport of skateboarding. They were known as the Z Boys — their nickname derived from the Zephyr Surf Shop in Santa Monica, which sponsored them in surf contests. Comprising 12 core members, the Z Boys began dominating skate competitions with their innovative take on the sport. They took their surf style to the cement, doing airs and carves.
They wore out their shoes constantly — until they got their hands on Van Doren Rubber Company shoes. Because of the shoes’ sturdiness, they became indispensable to skateboarders. In the Z Boys, the Van Dorens saw opportunity. They began sponsoring them.
Their first endorsement deal was with Stacy Peralta, a young standout who later went on to found the Powell-Peralta skateboard company. He was given $300 to wear the shoes exclusively during contests.
It’s the greatest $300 endorsement deal of all time.
Vans didn’t stop there. The brothers wanted to make the best shoe possible for skaters. Their #95 shoe was reimagined with input from Peralta and fellow team rider Tony Alva. A thicker sole was added to help soften landings. They reinforced the heel, added padding around the collar, and put in extra rubber across the toes.
The modified #95 is known today as the Vans Era. It has gone virtually unchanged for over 30 years.
The Era is the first shoe designed by, and made for, skateboarders.
Vans collaborated with its team’s riders and developed signature shoes. The company promoted the team with full page ads. Peralta and his compatriots became superstars. Skateboarding went from counterculture to mainstream, with Vans along with it.
The Van Doren’s marketing genius lay in their investment in the influencers of their time (ie, athletes). Sponsoring athletes and influencers wasn’t new. How the Van Dorens approached it was. They partnered with the most relevant influencers and then collaborated with them on everything from products to advertising.
The formula was simple: Target relevance + long term collaboration = successful influencer program.
Vans was a small company. The big celebrities of the era were professional baseball or football players and actors. These were people Vans could never have afforded, nor would it have been a wise investment. The company would have been competing with a sea of other sports brands for the same target.
In skateboarding, Vans recognized something before anyone else did: an underserved niche — one that happened to be passionate about their product. They were brave enough to risk their small marketing budget and invest in skateboarding’s emerging stars.
Let’s do an exercise by taking a look at another category with roots in the action sports world that targets a similar demographic: energy drinks.
When you think of energy drinks, what names come to mind? You probably thought of Red Bull and Monster. You may have remembered Rockstar.
These three brands have dominated the category for the last two decades. They’ve also been running the same advertising playbook. They sponsor the biggest names in extreme sports. They make awe-inspiring content and advertise like hell to guys in their teens and twenties.
So where is the opportunity to implement the formula that Vans applied?
Target relevance + long term collaboration = successful influencer program.
Let’s start with the target. Ask yourself, “Who is most relevant to teens and twenty somethings today?”
It’s not extreme sports, not anymore. Today, it’s esports. Gaming is exploding in popularity. There are half a billion people who identify as esports fans or enthusiasts. Video game revenue in the U.S. is forecasted to reach $230 billion by 2022.
One upstart in the energy drink category identified this gap between what teens are interested in today and where the incumbent energy drink companies are advertising.
That company is GFuel. The New York–based company launched in 2014 and works with the most credible names in the space. They’ve created their own Z Boys in the form of Team Gamma, their exclusive roster of gamers.
Team Gamma is the crème de la crème of the esports and influencer world. It includes PewDiewPie, the largest YouTube channel run by an individual. PewDiePie, best known for his “play with me” style videos, has over 106 billion YouTube subscribers and nearly 27 billion views worldwide.
GFuel developed an entire product line with FaZe Clan, one of the most dominant esports teams. FaZe clan has turned gaming into a lifestyle brand. The team’s players live together in a mansion in L.A., each with massive YouTube channels and rubbing elbows with celebrities. FaZe Clan counts pro athletes, rappers and even Lady Gaga’s former manager Troy Carter as investors.
Team Gamma has nearly 100 other members with equally impressive pedigrees, massive audiences and credibility in esports.
Both Vans and GFuel identified the most credible personalities relevant to their audience. They both took it a step further as well.
Vans was farsighted when it partnered with skaters. Peralta didn’t wear Vans in one contest or one ad — he wore them at all his contests. Vans didn’t ask skaters only to promote its products but instead to co-develop them.
The Van Dorens took feedback from Peralta and Alva, developing signature shoes for their team riders. They intertwined the brand with the personalities driving the sport.
Would you take input from an influencer? Would you build a product around them the way Vans did?
GFuel is doing this with Team Gamma.
In collaborating with FaZe clan, GFuel launched a pineapple flavored, powdered drink mix called FaZe Clan’s Battle Juice, as well as four ready-to-drink flavors. In collaboration with PewDiewPie, GFuel launched PewDiePie Lingonberry featuring his branding on the can. The company worked with British YouTuber/Gamer/Boxer/Musician KSI to launch a new Strawberry Banana flavor. At the start of 2020, GFuel partnered with one of the most popular streamers, Dr Disrespect, to launch the Black on Blackberry GFuel can. The list goes on — GFuel has partnered with influencers to create myriad other flavors and products.
Team Gamma is paying off. The strategy has turned GFuel into the fastest growing energy drink company as interest has exploded.
GFuel applied the same strategy as Vans in deciding not to opt for a one-off endorsement or a single ad with one big influencer. The people at GFuel partnered with the members of Team Gamma to create exclusive product lines. They reinterpreted what worked for Vans in the ’70s for today’s digital landscape.
Where would Vans be today if it had paid Peralta to wear the company’s shoes in just one contest or do just one ad? Vans benefited from Peralta and other skaters’ star power to the point that skateboarding and Vans became synonymous with one another.
I can’t imagine Vans could have become an $11.8 billion a year brand any other way.
Much of the ad industry has recognized influencers as an advertising channel. However, most advertisers pay influencers to do one post and then move on. There’s a failure to apply the formula we know works.
So as you go and develop your own influencer programs, ask yourself: “Am I thinking about this long-term? Am I applying the formula that’s worked so well for other brands?”
That formula again: Target relevance + long term collaboration = successful influencer program.
By: Brendan Gahan – Entrepreneur Leadership Network Contributor / Partner & Chief Social Officer At Mekanism
From the first pair of Vans in 1966, to countless pairs of Vans in 2016, Steve Van Doren, the Godfather of Vans, has been putting his staple on Vans footwear since he started working for his father’s company 50 years ago. His dedicated led to the production of the first-ever skateboarding shoe. Get a glimpse into the past and take a tour of what goes into making a pair of Vans shoe with Steve and Vans Skate Legend Christian Hosoi. SUBSCRIBE: http://bit.ly/1aIFFTY Connect with Vans: http://bit.ly/1uPubcu Facebook: http://bit.ly/29CDdc4 Twitter: http://bit.ly/29AT0Gz Instagram: http://bit.ly/29wXHB5 Snapchat: http://bit.ly/29tPZpI Pinterest: http://bit.ly/29tf1Gs Tumblr: http://bit.ly/1Rjvlt7 Vine: http://bit.ly/29HDMRB Google+: http://bit.ly/29ASVTm About Vans: Vans®, a VF Corporation (NYSE: VFC) brand, is the original action sports footwear, apparel and accessories brand. Vans® authentic collections are sold in 84 countries through a network of subsidiaries, distributors and international offices. Vans® has over 2,000 retail locations globally including owned, concession and partnership doors. The Vans® brand promotes creative self-expression in youth culture across action sports, art, music and street culture and delivers progressive platforms such as the Vans Park Series, Vans Triple Crown of Surfing®, Vans Pool Party, Vans Custom Culture, and Vans’ cultural hub and international music venue, House of Vans. Vans Top Athletes: Anthony Van Engelen, Geoff Rowley, Kyle Walker, Chima Ferguson, Gilbert Crocket, Tony Trujillo, Elijah Berle, Rowan Zorilla, Lizzie Armanto, Joel Tudor, Leila Hurst, Nathan Fletcher, Dane Gudauskas, Tanner Gudauskas, Patrick Gudauskas, Mikey February, Dakota Roche, Scotty Cranmer, Kevin Peraza, Dennis Enarson, Larry Edgar, Angie Marino, Jake Kuzyk, Hana Beaman, Mary Rand. How to Make Vans Footwear with Steve Van Doren and Christian Hosoi | 50th Anniversary | VANS https://www.youtube.com/user/VansShoes66