How Business Owners Can Invest Their Earnings

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Running a successful business is no easy task. After all, recent research reveals that four in ten small companies don’t last for five years. After the recent political and economic uncertainty in 2016, many were also expecting this rate to rise further. However, this doesn’t mean that you should be overly pessimistic, and if your business is doing well, you should continue to forge a path to success. Here, we discuss the current economic situation and how you can reinvest your earnings at the current time.

The Current Economic Situation

Against expectations, the broad outlook for the UK economy is positive. Recently, the British Chambers of Commerce have announced that UK buying habits have shown strong resistance to the Brexit vote.

This level of robust customer spending means that the outlook for trade and investment for UK businesses is broadly positive. The economy is expected to grow a further 1.4% in 2017, which is almost at pace with the 1.8% growth we witnessed in 2016.

As a result, if you’re looking to invest some of your wealth, now could be the time. Let’s take a look at how you could make the most of the broadly positive economic situation.

How Can You Invest?

To help your wealth grow, you can invest internally within your business or externally. First, let’s look at your internal options.

Internally

Staff ­– if your customers are keen to keep spending high, then let them. Investing in new staff members means that you’ll be able to service larger orders in a higher volume, boosting your revenue.

New Products – Likewise, consider diversifying your offering to take money from your competitors. By investing in market research, you can find out what your customers really want and cater for them.

These two tactics will help you strengthen your business and generate new revenue. Sometimes, you have to spend your wealth to save even more. However, although these will help you accrue wealth, it may also be worth diversifying your assets through external investments. Your best options here are:

Externally

Property – the UK housing market continues to boom and shows no signs of slowing down. Housing is generally considered as a solid investment; particularly buy-to-let, which is low risk.

Stocks and Shares – If your business is doing well, then it’s likely that others are, too. So, it could be worth investing in other businesses. This is a higher risk strategy than investing in houses, but the rewards are potentially higher, too. Take a look online for advice on what investments could be profitable.

Forex – Finally, consider being bold, brave and bright. Geo-political tensions such as Brexit cause currency fluctuations and changes. By investing some of your money in forex trading, you could make money on these fluctuations. This is a high risk, strategy, however, so educate yourself before you begin.

To conclude, the current economic situation looks positive, so consider how you could invest to maximise your wealth carefully.

 

 

Ways to get Extra Money by Tomorrow

Unexpected financial troubles can leave you needing to find extra quick cash fast. The good news is that you can turn this emergency into an opportunity to help friends, family and your community along the way, all while expanding your social network. From offering services and time to selling assets, the internet provides many ways to connect with people in your community to make fast paced transactions.

This article is to help you brainstorm ways to begin making money now so that you can spend more tomorrow.

1)   Selling your stuff – It may seem too simple, but it has somehow worked for millennia, so start selling your stuff. Never has the process been easier. Use websites like “eBay” and “Craigslist” to list your items for sale online. Garage sales are another classic way to sell off your excess stuff, and your community may find it refreshing. Check with your local newspaper companies to see about potentially free or low priced advertising space in their issues.

2)   Yard work – There many success stories of people making over 1,000$ a week mowing lawns throughout their town. Finding a friend to team up with can help you increase that amount by providing a full landscaping service that includes mulch, fertilization, aeration, leaf removal, and general maintenance. However, if what you need is a quick buck by tomorrow, mowing lawns should do the trick at a low cost to you.

3) Babysitting – There are bound to be parents in your hometown in need of a babysitter. Offer a hand in helping by babysitting for a reasonable 15$ an hour or more. You can adjust how much you charge based on how old the children are, how many of them there are and what you are expected to do for them. There are even websites now devoted to helping connect people to babysitters.

4) Iron clothing – Believe or not there is a market for this, especially in big cities. People simply hate ironing their own clothes, and the professionals get booked up quickly. Do a friends basket of clothing for 20$ and try to see it as a helpful gesture instead of a formal business offering.

5) Street performance – Have any talents worth seeing? Whether it is a magic trick, acrobatics, or anything that can capture attention, get to a busy area to showcase them. This is one gig where you will need to be ready for many to watch and not actually tip. However, if you work long and hard at it you should see a decent pay over the course of the day.

6) Cleaning service – Many cannot afford a regular full-scale maid service each day. Offer people in your hometown a service on a per hour or per job basis. All you need is the cleaning supplies to get the job done including brushes, towels, perhaps some bleach and other cleaning solutions.

7- Food – Whether it is baked goods or some signature dish, try selling food to family and friends at a low price. You may not have the resources to or the license to set up an official food stand, but you can expect to make a decent buck from informal transactions. I know a family that makes their own authentic Asian noodle dish and sells it at high school sporting events such as swimming meets and track races.

Even if you have a matchbook code gambling would not be a quick way to get cash.

Do the hustle…

Do the side-hustle that is. Who doesn’t like making a little extra “coin” each month? I’ve pretty much determined God created me to make money. I love being productive, but I love getting paid to be productive even more. There is something about “extra” income that allows me to spend a tad more care free than my typical frugal self would.

I budget for approximately $150/month in side-hustle money. In reality I average between $300 to $500 in extra income, but I like to be a little conservative and anticipate a lesser amount. Tutoring use to be my only means of additional income, but I have began expanding my horizons and bringing in the benjamins through other means.

For example, I never really anticipated, and still don’t really attempt to make money blogging. I knew people out there did it, but I never really was that in to it. Well, come to find out, there is a secret equation that leads to monetization. It goes a little something like this…
I blogged for 8 months in 2009 and walked away with $800 in blogging income. The blogging income paid for my cable/internet ($93/month) and an occasional guilt trip run to Jack in the Crack Box.

Not only has tutoring proven to be extremely lucrative ($40/hr), but it has also lead to additional sources of income. I have become pretty good friends with most of the families I work with and they have began asking me to housesit for them. Did you know people actually pay you to eat their food, swim in their pool, and watch their TV? Housesitting is quite possibly the most epic job of all time. I usually get about $100 for a weekend gig. Little do these families know, I would totally pay them a $100 for a weekend at their place… it’s like a mini vacation. I was asked to housesit this weekend and twice in February, so I’m stoked.

So bloggity blog bloggers, What are your 2010 side hustle goals? ? Are you obsessed with finding alternative means of income? Like I mentioned earlier, I make about $500 each month… what’s your number?