Thursday, 19 January 2012

On Money: Finding Your Niche

Recently we looked at supplementary income streams, little things that will bring an extra £10 or more a day. For those that do not settle for less its easy, they dedicate their spare times in maximising earning potential, they do not have time to watch x-factor or catch that omnibus on Eastenders. I am not advocating an attitude of all work and no play, I understand that there are periods where you have to take a break. Walk the dogs, take the kids to a kick-about, do your garden, read a book watch TV as well or a movie, finish the crossword. However people who do not settle for less than their true potential are focused, even these periods of play are planned in their busy activities. If you have not yet embarked on your search for an activity that will bring you extra income, I suggest you give it a thorough thought. Once you have decided on the course of action then by all means get on with it, the rewards of action are greater than that of inaction or procrastination.

Here are some extra ideas some will rehash what we talked about yesterday:

1) Sell your old books/DVDs/CDs/Games here: Amazon,, Green Metropolis is for books only. Amazon Trade in, trade in your old books

2) Ebay - a place to sell anything and everything, Gumtree, Preloved, CQout, eBid, Craigslist, Vivastreet,, Trade-it

3) Join Topcashback and Quidco - type in surveys in the search engine and some will pay you to join up with them. Visit famous for shop and scan. They may also ask you to join their other panels Shop and Scan gives 1100 points a week, plus a bonus 500 if you upload a receipt. Food on the Go - upto 5000 points a week (200pts for the first 20txts sent weekly - none after that. Plus 1000 points just for sending. If you have no submissions, you can also just txt to say that and still get 500 pts). Petrol Panel - 2500 points per month for all petrol submissions.

4) Daily clicks Although clicks take time to add up it's worth it in the end if you have the time to spare.

5) Mystery shopping - Get paid to be a mystery shopper! I will also be updating the mystery shopper's list soon.

6) Mobilphone to recycle? There are plenty players in this field now just google it.

7) Music Magpie - have cds/dvds you haven't been able to sell at carboots or online. Try your luck here. Is you do sell your albums/dvds be sure to go via quidco or maximiles to get a few more pennies.

8) Etsy & Folksy - If you enjoy making crafts why not have a go at selling them on etsy or folksy. They've been getting increasingly busier each year.

All the above activities will earn you an extra income, however the ultimate income earner is specialisation. Take doctors for instance a general practitioner earns less than an oncologist or than a neurologist. It applies in every profession in life, a general nurse will earn less than a chemotherapy nurse, a web developer will earn less than a web and mobile device application developer. A solicitor will earn less than a tax lawyer, a banker will earn less than an investment banker. The key here is to find your niche, if you are a generalist you will need to streamline your activities and horn on that one aspect of your work that will transform your earning potential.

You will find nine of ten times if you do that your income will never be average again cutting down on the need to take a second job or finding ways we listed above to earn extra income. What is niche?

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