Are you looking to make some quick money online? Do you need to cash-flow something or fill in a money gap in a hurry? Did an unexpected expense or surprise opportunity pop up that you want to take advantage of? Are you really close to an income target and you want to do whatever it takes to hit it?
These are all reasons to want or need to make some extra money quickly. They’re also things tend to crop up regularly. My favorite solution to covering surprise expenses and bringing in extra cash? An online business! Whether it’s freelancing, blogging, selling your handmade products, or anything else, online businesses are a fantastic way to build the type of income you truly want.
The great thing about working for yourself with an online business is that you’ve got all kinds of options for generating money. There’s the “thing” you do, which is your bread and butter, but there are constant new opportunities to make a little bit of extra cash here and there when you need or want it.
When the time comes, what 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, chances are there’s a way you can leverage something you sell with 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 for some extra VA hours in advance).
- Invent a new package where students can pay for three sessions with you at a special rate.
Whatever it is that people pay you for, offer that thing in an attractive way at a special, limited-time discount.
- discount the products or courses you sell on your blog.
- Lower the price on your Amazon book.
- Post something on your personal social media accounts about how this is a great chance to sample your top-rated product or service, JUST for your friends and family.
The possibilities are endless!
2. Pre-Sell Something
A great way to pre-sell something is to come up with some training or special product that your audience really wants, then offer it to them.
Many people who are developing courses and training programs will pre-sell them to their readers and email subscribers. It’s a great way not only to make some extra money right out of the gate, but to validate your ideas and get feedback to make sure you deliver exactly 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, like a webinar or call.
Workshops are actually a great way to pre-sell, as long as you’ll be teaching something that people want to learn. With workshops, you just have to prepare the material once and then you can hold the workshop again and again. You also have the benefit of seeing people learn and process in person, as it happens. This can help you solidify the material and make sure it really works for your students. With all that 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
This one is similar to a flash sale, but you do it for something you’ve never offered before instead of something that already exists. It works best for service providers or if you’ve got a new product that’s been waiting for its turn in the spotlight.
Come up with a new product, service, or bundle that you can offer your clients and subscribers at a low introductory rate. One of the reasons people will respond to this — in addition to the fact that they need or want it — is the “urgency” you build in by letting them know that the price is going to go up soon. People don’t like missing out, so if your offer is solid, it should get some traction.
4. Ask Your Colleagues
This is one of my favorite “secret strategies” for making extra money. It works great for freelancers and service providers.
Basically what you do is get in touch with people you know who are also working in the same type of field that you’re working in, and see if they have any extra work they could send your way.
For example, if you’re a freelance writer, you can get in touch with your other writing friends and let them know that you’re looking for a couple of quick jobs. You might not make what your typical rate is, but you’ll have some work sent your way that you can turn around quickly.
5. Sell Some Affiliate Products
The potential downside to affiliate sales is that the payout won’t necessarily hit your bank account for a few weeks. That said, if you’re looking for a fast way to generate some new income (even if you won’t get your hands on that money immediately), affiliate sales can be a really interesting way to do it.
In my opinion, two of the best ways to do 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 that you know will benefit them. Throwing out some affiliate offers simply for the sake of making money won’t go over well — people will see right through that 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 path for affiliate marketing.
The Key Takeaway
When you have your own business and you want to make some extra money fast, the best thing you can do is ask yourself what you have that other people want, and then find a way to package it up and offer it to them. Running a limited-time promotion (like a sale or introductory offer) is a proven strategy, and pre-selling something has also been very successful for many online business owners.
All it takes — as in many aspects of working for yourself — is a little bit of creativity and the willingness to put in the work to get it done. But once you come up with a good idea, you’ll be on your way to more income!