The most effective way to generate money is to pursue your passions. You'll need to be passionate about the work you do to run a business or work as a self-employed individual for the long haul. If you go down the path of doing whatever promises a fast buck, you'll fizzle fast, and your family will suffer for it. There's no reason why you can't make money from doing what you love most. You just need to know how. Here are some general guidelines to help you get started:
Learn from Someone Already Doing It
Find someone in your industry who knows how to generate money pursuing your passions. That may or may not be someone you can actually contact. Perhaps the entrepreneur has written a book profiling how they did it, offers a course, runs a forum or has a membership website. Don't fall for Internet marketing scams, though. The person you have in mind shouldn't generate money primarily based on selling their system to others. They need to prove that they rolled up their sleeves, did the work themselves and were successful for years. If you can verify their story independently, then paying for a course or access to a membership is justifiable. It's even better when you can connect with someone who would be willing to mentor you, or at least grant you a phone interview to give you some pointers.
Beef up Your Skills
You won't generate the money you need if your skills are outdated. Your competitors are learning new ways to improve their delivery of services, and they are innovating products to improve the lives of their customers. If you're relying on skills you learned years before, then you'll be left behind. Research the trends in your industry to see what you need to learn and incorporate it into what you do. For example, you may need to learn social media marketing skills to spread the word about what you have to offer, to network your way to key insiders that can give you the contracts you're seeking. Check the trade associations in your industry to see their latest certification program course offerings or continuing education classes for clues as to what skills you need to learn or brush up on.
Develop Two or More Ways to Generate Money
Whatever you passions are, there must be at least two different ways to make money from pursuing it. You should research all the ways your competitors are making and have made money, and determine at least two ways you will generate money. Diversification of your income source is the most effective way to have steady income. If one means of making money dries up or slows down, you'll have another source to sustain you. The more the better, but you don't want to spread yourself too thin. It doesn't require you to launch different businesses either. You can have one niche business, or pursue one niche freelance career, but find many ways to make a living from it.
Many moms like you generate money every day pursuing their passions, and you can too. These guidelines are proven and are stepping stones to help you do what you love.
Daphne Mallory, Esq. is the co-owner of Mallory Writing Services and has written more than 100 articles helping home based business owners and entrepreneurs start and market their business. You can learn more about her here.