1. Tips and Tricks

5 Opportunities You May Be Overlooking

When a financial crisis hits, consider these quick income strategies and use the one (or more) that works best for your particular situation.Are you looking to make some quick money online? Do you need to fill some cash-flow or money gap in a hurry? Has an unexpected expense or surprise opportunity popped up that you want to take advantage of? Are you really close to an income goal and want to do whatever it takes to hit it?

These are due to the desire or need to make some extra money quickly. They’re tending to crop up regularly. My favorite solution to cover surprise expenses and bring in extra cash? An online business! Whether it’s freelancing, blogging, selling your handmade products, or something else, online businesses are a great way to generate the kind of income you want.

The great thing about working for yourself with an online business is that you have all kinds of options for making money There you do the “thing”, which is your bread and butter, but there are constantly new opportunities to make a little extra cash here and there when you need or want it.

When the time comes, all you need to do is think about some of these quick-income strategies and use the one (or more) that works best for your particular business. Here are a few ideas to get you started:

1. Offer a flash sale

No matter what your online business is, there is a way you can sell something through a flash sale. For example:

  • Email your previous virtual assistant customers with a one-time coupon.
  • Offer your clients a special rate if they pre-order some work with you (like paying in advance for some extra VA hours).
  • Invent a new package where students can pay for three sessions with you at a special rate.

Whatever value people give you, offer that thing in an attractive way at a special, limited-time discount.

Other possibilities:

  • Discount products or courses you sell on your blog.
  • Reduce the price of your Amazon books.
  • Post something on your personal social media accounts about how this is a great opportunity to sample your top-rated product or service, just for your friends and family.

The possibilities are endless!

2. Pre-sell anything

A great way to pre-sell something is to come up with a training or special product that your audience really wants, then offer it to them.

Many people who are creating courses and training programs will pre-sell them to their readers and email subscribers. Not only is this a great way to make some extra money right out of the gate, but it’s also a great way to test your ideas and get feedback to make sure it’s what your people want.

Some other things you can pre-sell: a book, an in-person workshop or seminar, or a live training or session, such as a webinar or call.

Workshops are actually a great way to pre-sell, as long as you teach something people want to learn. With workshops, you only need to prepare the material once and then you can hold the workshop again and again. You also have the advantage of watching people learn and process, as it happens. This can help you solidify the material and make sure it really works for your students. With all this feedback, you can take your workshop and turn it into an online course that anyone in the world can take. But that’s another post for another day!

3. Offer a new product or service at an introductory rate

It’s similar to a flash sale, but you do it for something you’ve never offered before instead of something that already exists. This works best for service providers or if you’ve got a new product waiting for its turn in the spotlight.

Come up with a new product, service or bundle that you can offer your clients and customers at a lower introductory rate. One of the reasons people respond to it – besides needing or wanting it – is the “urgency” you’ve created to let them know that prices are going up soon. People don’t like to miss out, so if your offer is solid, it should get some traction.

4. Ask your colleagues

This is one of my favorite “secret tricks” for making extra money. It works great for freelancers and service providers.

Basically what you do is contact people you know who are working in the same field as you, and see if they have any additional work they can send your way.

For example, if you’re a freelance writer, you can reach out to your other writing friends and let them know you’re looking for some quick work. You might not make what your normal rate, but you’ll have some work sent your way so you can turn around quickly.

5. Sell some affiliate products

A potential downside to affiliate sales is that the payout won’t necessarily hit your bank account for several weeks. That said, if you’re looking for a quick way to generate some new income (even if you don’t get that money in your hands right away), affiliate sales can be a really interesting way to do it.

In my opinion, the two best ways to make affiliate sales are on your blog and with your email list. The “right” way to promote any kind of affiliate product is to tell your readers about something you love and know they’ll benefit from. It’s no good throwing out some affiliate offers just to make money – people will see it and get turned off. But if you’re genuinely excited about something and you share it with your audience because you’re sure they’ll be excited about it too, then you’re on the right track for affiliate marketing.

The key takeaway

When you own your own business and want to make some extra money fast, the best thing you can do is ask yourself what you have that others want, and then find a way to package it and offer it to them. Running a limited-time promotion (such as a sale or introductory offer) is a proven strategy, and some pre-sales have also been very successful for many online business owners.

All it takes – like many aspects of working for yourself – is a little creativity and a willingness to work to get it done. But once you come up with a good idea, you’ll be on your way to more income!

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