Have you ever needed to make some extra cash? If so, you’re not alone. Despite the economy recovering, jobs are still hard to come by, and salaries barely keep up with inflation. This leaves many people needing additional income for day-to-day living expenses and those unexpected expenses that life is always throwing our way. Fortunately, there are several things individuals can sell online to earn a little extra pocket money.
The first thing you should do is list all their belongings and decide which things they can get rid of. Next, figure out a price for each item and post a listing on a website like eBay or Craigslist. When you do this, you must be willing to take a lower price for items in higher demand, but there is no guarantee that the buyer will buy it at that price. For example, even if you purchased a knife at a specific price, you might not find someone who wants to buy your best lc200n knife at a price you want to part with.
Flipping Items
Buying and flipping items on eBay are one way to make a profit from old or unused items. However, there are specific guidelines that you should follow to complete the process of flipping an item.
You should choose items for flipping carefully because they need to be either new, different, or rare. Items also need to have a clear price point, which you can easily find through research. If you know your stuff, then you can flip anything from cars to electronics to a TenPoint Crossbow fastest crossbow and make some serious cash.
If you are looking for a side hustle that can make some quick money, flipping items is one of the best options. However, you need to make sure that you are making enough money for it to be profitable. If you are spending time and money to get the items, you need to make a profit. Once you factor in the item’s price, any repairs, gas, time, etc., you need it to make money. It would help if you did an audit of your business by yourself or audit software to make sure your business is profitable.
Double Your Income
One of the quickest and easiest ways to double your income is to develop a high ticket item that you can sell to your customers. One of the most popular models to do this is to offer one-on-one coaching or small in-person workshops at your house. While that’s certainly an option and a great way to justify asking for several thousand dollars per ticket, this model has one big problem. It isn’t scalable because you’re limited in how many you can sell by how much time you’re willing to spend on these meetings in any given week or month.
Let’s look at some options that allow you to create one of these high-end products without this limiting factor involved. In short, we’re going to look at some high-value products you can make that you set up once and then sell over and over again. First though, why is creating a high-end product such a good idea? After all, the majority of your subscribers and customers won’t buy them. The reason is that you don’t need to sell a lot to be profitable. Let’s look at an example.
Let’s say your average product costs $27. To make $5,000 per month, you need to sell an average of 185 of them. That’s a lot of new customers you need to find each month to reach your income goal. Now let’s say you have a $97 product. You only need to sell 51 of them. Last but not least, let’s go crazy and say you come up with something you can sell for $497. Again, you only need to sell about 10 of those per month.
Now let’s circle back around to the idea of doubling your income. Sure, you could come up with another $27 product, but you’d have to do double what you’re doing now to generate an extra 185 sales. But what about that $497 product? It could become the last piece in your product funnel. But, of course, not every single one of your customers will buy it. Only those who need the extra help and are serious enough about reaching their big goals will pick it up. But that’s ok. You don’t need a lot of them to buy it each month to increase your profits seriously.
There are a lot of different ways to create these products. Your main goal will be to offer a lot of value and make a real difference in your customers’ lives or businesses. For example, this could be a comprehensive guide with workbooks and open office hours to ask questions. In this direction, you walk them step-by-step through each part of the process of reaching their goal. Or maybe it’s an interactive video course that allows them to pick and choose lessons specifically on the stumbling block they face next. Or perhaps part of it is access to your team of people who can help them create covers, set up websites, etc. Or maybe it’s yearly access to your membership site where they get help, motivation, advice, and interaction with like-minded people. Get creative. Think about what you would have wanted when you were in their position. What would have helped you get to where you are now faster. Create that, and then don’t be afraid to put a premium price on the product.