Your Second Income!

[LottaFun]

I started the "The Proof is in the Pudding" topic to help people. To help people find do-it-yourself options for investing.

Today, I want to send you in a second direction. Guys, I sit here in front of the tv seeing on the news how Nersa is asking for a 25% increase in electricity and I see the CPI going up and food prices rising weekly.

I have quite a few pokers in different fires and one of them is selling clothing at markets. Guys, we at the markets see how people have literally less money to spend from one month to the next. Even the food venders are complaining. When food venders start complaining, something is seriously wrong.

So what is my message? You have to start creating yourself a second income. It is not a nice-to-have anymore. It is crucial! Your salary will cover, maybe, all your day-to-day essentials, but if you want to financially grow, you must have an extra income source. Even if that source brings you in another R500 per month, it will, in time make a difference. The point I am trying to get over, start doing something, anything, but do something to create a second income.

As motivation - people, friends, colleagues will tell you your idea is silly and this and that is why it won't succeed and for that reason, most ideas never get off the ground. Do not listen to them. They don't know and they are jealous. Also remember this, business ideas aren't necessarily rocket science. There are plenty of ideas in your immediate vicinity that you can use to create a second income. I sat down one day and just wrote down things that could possibly make me a second income. I stopped after I wrote down my 25 idea.

If the guy down the road from me can own a farm and 4 houses from just selling ice, then why can't you?

So what do we want in this forum topic?

1. Share your business idea. Ja I know the first thing I will read is that someone somewhere will steal my idea. No they won't! They are too eager to shoot it down and too lazy to run with it. Only you with your dedication, will run with it.

2. People can comment and identifying risk will be appreciated, but keep your comments positive.

3. Let's help each other. Come to the table with usable advice. Let's help our fellow man. Let's get that second income going. Who knows, just maybe someone comes up with an idea that will go global and we can buy shares in the company!

4. Keep it realistic. Make it a goal that is possible.

5. And lastly, for the jokers that make silly comments, one day you might come up with a brilliant business idea and we could help you.

So guys, get going for your better future.

 

[Hamster]

I'll open the same way I did in your "Proof is in the Pudding" thread:

You go first! Where is your idea?

 

[zizo911]

I want to start my own private tutoring company.

 

[DominionZA]

I have had multiple sources of income for many years. I like it this way.

Initially it was just software dev (ran a small dev house), and on the side I imported and resold radio control helis and related accessories.
Eventually the heli business grew to be too busy and was affecting my dev company, so I sold it.
Then I started importing eCigs and reselling those. Been a nice stable source of secondary income since 2009.
Currently I am now perm employed, sell eCigs, own my own retail package that I continue to develop and maintain (brings in about 1/3 of my perm income), and have 2 contracts on the side that helps a bit more.

It's busy, but it keeps the cash flowing which is the way I like it.

Edit: Always looking for import and resell opportunities. I think if you can spot a gap somewhere, you should take it.
With both my eCig and Heli imports, I started very small. Select good products, then grew. The growing came from being involved in the relevant communities (via forums) and getting your name known. Does cost a lot to get going.

 

[LottaFun]

I'll open the same way I did in your "Proof is in the Pudding" thread:

You go first! Where is your idea?

I was waiting for you!

Here goes:

A cellphone app that tells people that ride with taxis to work, where the closest taxi is/how far away at this moment in time or the other way around. An app that tells the taxi driver where somebody is that needs to be picked up.

Potential: 20 million people get to work daily using taxi's. If every person downloaded the app and paid just R1 per year for the use, that could give a you 20 million rand a year!

 

[LottaFun]

I want to start my own private tutoring company.

What do you want to tutor or do you want to employ tutors and you manage it?

 

[Hamster]

I was waiting for you!

Here goes:

A cellphone app that tells people that ride with taxis to work, where the closest taxi is/how far away at this moment in time or the other way around. An app that tells the taxi driver where somebody is that needs to be picked up.

Potential: 20 million people get to work daily using taxi's. If every person downloaded the app and paid just R1 per year for the use, that could give a you 20 million rand a year!

So basically Uber :wtf:

Well good luck.

 

[LottaFun]

I have had multiple sources of income for many years. I like it this way.

Initially it was just software dev (ran a small dev house), and on the side I imported and resold radio control helis and related accessories.
Eventually the heli business grew to be too busy and was affecting my dev company, so I sold it.
Then I started importing eCigs and reselling those. Been a nice stable source of secondary income since 2009.
Currently I am now perm employed, sell eCigs, own my own retail package that I continue to develop and maintain (brings in about 1/3 of my perm income), and have 2 contracts on the side that helps a bit more.

It's busy, but it keeps the cash flowing which is the way I like it.

Mike, that is wonderful. You go boy!

 

[zizo911]

What do you want to tutor or do you want to employ tutors and you manage it?

Maths tuition company. In the beginning just me... but as it grows I shall employ more. There is a large need for it.

Let's say 10 kids and have group sessions for let's say R90 a learner. Then have grade 10. 11 and 12 for two hour sessions.
So roughly R900 per session. So its R2700 per a tutoring day.

 

[Creag]

It's not quite a second income just yet, but I have been investing in the JSE through my own trading account for a few years now. Dividends received are always ploughed back into buying more shares. One day in the future it'll be a supplement to my income. That day is still a long way off at the moment.

 

[supersunbird]

So basically Uber :wtf:

Well good luck.

Uber-ish for minibus taxis from the sounds of it.

 

[WebNexus]

Maths tuition company. In the beginning just me... but as it grows I shall employ more. There is a large need for it.

Let's say 10 kids and have group sessions for let's say R90 a learner. Then have grade 10. 11 and 12 for two hour sessions.
So roughly R900 per session. So its R2700 per a tutoring day.

Have you thought about taking this idea online. So basically set up all the classes as vidoes (basic package) R2000, videos + pdf questions and anwsers (tips to look out for)+(tips to deal with this type of math problem) = "standard package" R3500 and finally the "standard package" + one on one skype sessions to deal with problem areas that student has, say 3 dedicated hours" the premium package"R5500

This basically means a **** load of work up front. BUT!!!! after that, other then the hours in the premium package, its a passive income.

Now this is my idea, not the tuition company, but the company that sets the tuition company up and provides training on how to maintain it. What do you guys think?

 

[LottaFun]

Maths tuition company. In the beginning just me... but as it grows I shall employ more. There is a large need for it.

Let's say 10 kids and have group sessions for let's say R90 a learner. Then have grade 10. 11 and 12 for two hour sessions.
So roughly R900 per session. So its R2700 per a tutoring day.

Quite a coincidence. My son does that every week. There is a company that brings home schooling kids and tutors in maths together here in my area. They let him know where and when and he gets a few bucks for petrol and R100 a hour. He tutors 4 hours per day three days per week.

But in any case, what are you waiting for? Maths tutoring is needed. Oh by the way. He advertised his services on gumtree and they contacted him.

 

[LottaFun]

It's not quite a second income just yet, but I have been investing in the JSE through my own trading account for a few years now. Dividends received are always ploughed back into buying more shares. One day in the future it'll be a supplement to my income. That day is still a long way off at the moment.

McT, ja that is not the route to go for a second income. Yes you can generate income form property and preference shares but you need a lot of shares.

In anycase, this is not the forum for that topic, but good luck.

 

[Jet-Fighter7700]

Operating a shuttle service for ares not served by gautrain

As an example in bedfordview there are no shuttles to gautrain stations anywhere,
If i had the cash run 1 kombi to gautrain in malboro and back to say eastgate, charge R10 a trip.

Another more wacky idea i had was in woodmead drive, with its famous 30min long commute
Employ guys with scooters and drivers who will park your car for you.
Youll sms them your car details one of them will find you in the traffic and give you a lift to the office, while another will either park your car and bring it back to you when you finish the day or sit in the jam and call at your office later on.

Problem is $$$$ as always,

 

[LottaFun]

Uber-ish for minibus taxis from the sounds of it.

Guys, really. That is what you and Hamster can contribute? The word Uber?

 

[LottaFun]

Operating a shuttle service for ares not served by gautrain

As an example in bedfordview there are no shuttles to gautrain stations anywhere,
If i had the cash run 1 kombi to gautrain in malboro and back to say eastgate, charge R10 a trip.

Another more wacky idea i had was in woodmead drive, with its famous 30min long commute
Employ guys with scooters and drivers who will park your car for you.
Youll sms them your car details one of them will find you in the traffic and give you a lift to the office, while another will either park your car and bring it back to you when you finish the day or sit in the jam and call at your office later on.

Problem is $$$$ as always,

Great ideas! I had a microbus and since the guys wanted to have a good time when they went to the rugby on a Saturday, I would take them. I charged a flat fee. It worked great and after the game I collected them and dropped them off on their doorstep. That way they could booze as much as they liked and get home safely.

Your second idea - The problem is that the minute somebody else gets in your car there is an insurance risk. So how can you tweak the idea? Don't scrap the idea. Tweak it, think about it. It has potential.

 

[LottaFun]

Guys, I want to share three pieces of wisdom with you that I share with my kids:

1. If you don't ask, the answer is always no. Don't assume if you ask the answer will be "NO". You must ask.

2. If you don't step forward, you will always stay where you are.

3. If you don't go after what you want, you'll never have it.

Simple but the truth in all things in life.

 

[supersunbird]

Guys, really. That is what you and Hamster can contribute? The word Uber?

Screw you, I was just clarifying his misconception, don't see you doing it.

 

[pratlou]

Mine might sound bit unclear.

I am looking Domain auction where you bid on domains at lower cost or based on valuation. After acquiring the domain you must do best to increase valuation of domain through traffic generation etc. This is more like your version of buying property and making it appealing to be sold back at higher value than one you bought.

Also i am researching into how i can develop african based model of domain auction specifically for african domains.