Your Second Income!

[Thor]

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.

I use to buy and sell on flippa

 

[zizo911]

Spoke to a friend. She will be doing the physics side of tutoring things...busy setting up ideas.

 

[patrick]

I'm trying to cover my living costs with sideline income so I can invest the rest. At the moment I have a few websites I made and a bunch of dividends from my investments in ETFs.

If I went for dividend paying companies I'd be able to do it on dividends alone, but I don't think I can pick a share, so I only buy ETFs (STXIND and RAFIND). I don't rely on website income as it can vanish in an instant if google changes an algorithm.

So far this year I've managed to invest my full salary

Keeping costs low seems a lot easier than getting earnings up to me, that's how I do it.

 

[Elfreako]

Nice thread I think these days it's foolish to rely on just a salary to survive. My strategy includes: A couple small online eCommerce sites (Niche markets), rental property (Will hopefully have 2 of these by year end) and investing in ETFs (Buy and hold). In the next 5 years I would like to start experimenting with some hobby farming as another form of income. I just need the land first

Another 2c I would like to add: Don't forget about the basic businesses. Car washes, billboards, catering. People have been making money with these for decades. I often feel like tech people often over think things and get involved in ventures that are too complicated (And unproven).

 

[MrGray]

Another 2c I would like to add: Don't forget about the basic businesses. Car washes, billboards, catering. People have been making money with these for decades. I often feel like tech people often over think things and get involved in ventures that are too complicated (And unproven).

True. But there is potential magic in combining the simple and traditional with technology. Uber is an excellent example. They are basically taxis, but with the convenience of pushing a button and not messing around with cash.

How about an "Uber" for car washes? Press a button and someone comes to wash your car - could work with any non-tech field, actually - e.g. a domestic services app - choose plumber, electrician, handyman, gardening service, etc and press the button. But as with Uber, the success lies in how slick the execution is.

This being mybb, we're mostly technically minded I would think, so anything that you can automate or simplify with tech is ripe for the picking.

 

[lived666]

Spoke to a friend. She will be doing the physics side of tutoring things...busy setting up ideas.

My daughter charges R300 an hour for math tutoring and has to turn people away because she doesn't have enough time. She is pretty good though.

Well I've got an order on the way already, I'll just plead ignorance when they ask me for my import permit, if it is indeed a requirement.

The import code is just a formality, quite east to get and will save you hassles. If its low value your ID will suffice.

 

[RoboJedi]

We are working at getting my wife a 2nde income with the hope of it eventually replacing her salary so she can be at home...

 

[ActivateD]

The company I do freelance work for paid me just below what I earn from my current employer. So basically I am getting double my salary very happy with the billing rate and the amount of work they give me.

 

[LottaFun]

I am glad that so many of you are contributing and that you have started thinking about ways to create a second income. That is where everything starts. As I said, some ideas seem to be pie-in-the-sky items at this moment in time, but I am sure somebody told that to Thomas Edison when he stated he wants to build something that would allow two people to communicate over a long distance.

Hamster and other guys criticized my taxi idea as being "uber" although it was an idea I through out there. So in lite of those comments, here is a more down to earth idea that is very feasible and is one of the 25 in my list:

20 The casual work website - Where people advertise jobs that they want done for under a 1000 bucks for example filing. You advertise the work you want done and how much you are willing to pay. People then respond after registering on a website (security!) and then contact you via the website for an appointment. True blue second income opportunity.

 

[Jet-Fighter7700]

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.

Your right, although I don't think its such a problem, technically its Like a valet parking, only mobile

And dosent most insurance cover anybody, as long as they older than 25 and got consent?

 

[Jet-Fighter7700]

I am glad that so many of you are contributing and that you have started thinking about ways to create a second income. That is where everything starts. As I said, some ideas seem to be pie-in-the-sky items at this moment in time, but I am sure somebody told that to Thomas Edison when he stated he wants to build something that would allow two people to communicate over a long distance.

Hamster and other guys criticized my taxi idea as being "uber" although it was an idea I through out there. So in lite of those comments, here is a more down to earth idea that is very feasible and is one of the 25 in my list:

20 The casual work website - Where people advertise jobs that they want done for under a 1000 bucks for example filing. You advertise the work you want done and how much you are willing to pay. People then respond after registering on a website (security!) and then contact you via the website for an appointment. True blue second income opportunity.

Already exist the casual worker idea, mainly for batch coding things in it, outsourced to India and such,

But for said, could work if it was set up like a agency style
Ie, people would register and when something specilised would come up they'd call you,
I'd think it work great for all those painters/tree-fellers you see at robots, even domestics could use it.....

 

[pratlou]

I use to buy and sell on flippa

Do you still do currently?

 

[LottaFun]

Already exist the casual worker idea, mainly for batch coding things in it, outsourced to India and such,

But for said, could work if it was set up like a agency style
Ie, people would register and when something specilised would come up they'd call you,
I'd think it work great for all those painters/tree-fellers you see at robots, even domestics could use it.....

See this is an idea and yes, it will need tweaking and bending but, it has potential. It all starts when you write it down on paper.

Not to blow my own whistle, but if anybody feels like running with this idea, please contact me.

 

[SauRoNZA]

I am glad that so many of you are contributing and that you have started thinking about ways to create a second income. That is where everything starts. As I said, some ideas seem to be pie-in-the-sky items at this moment in time, but I am sure somebody told that to Thomas Edison when he stated he wants to build something that would allow two people to communicate over a long distance.

Hamster and other guys criticized my taxi idea as being "uber" although it was an idea I through out there. So in lite of those comments, here is a more down to earth idea that is very feasible and is one of the 25 in my list:

20 The casual work website - Where people advertise jobs that they want done for under a 1000 bucks for example filing. You advertise the work you want done and how much you are willing to pay. People then respond after registering on a website (security!) and then contact you via the website for an appointment. True blue second income opportunity.

Do you know what Uber is?

Doesn't seem like it from the way you put it in quotation market.

Maybe find out what it is, then everything will make more sense.

****
Pro tip : it exists already.

 

[Thor]

Do you still do currently?

Unfortunately not, once our Rand went to shifts it made it unfeasible for me.

 

[ChadKay]

With regards to the tutoring, it's an awesome thing to do although you also have to look at how much time you'll be working due to school holidays etc.

I'm in 3rd year accounts (CA) and I go to a guy with a friend of mine. He charges R270 per person for an hour and a half. He does this everyday and gets around 6-7 lessons a day depending on when tests and exams are.
He's only working about 8-9 months a year due to the long University holidays. Everything is in cash so he doesn't pay tax and if he does it's very low as there's no trail. He barely has any 1 on 1 lessons and he is coining it! Word of mouth helps him so much to the point that he is full full every week now.

Have a look at offering help with University subjects, you can up your fee and market yourself to different universities in your area. My accounts lecture has around 400-500 people, getting through to 10 of them and letting them sell your service is great. That's also just for accounts CA. There's still bcom accounts and managerial accounting.

 

[NeonNinja]

Already exist the casual worker idea, mainly for batch coding things in it, outsourced to India and such,

But for said, could work if it was set up like a agency style
Ie, people would register and when something specilised would come up they'd call you,
I'd think it work great for all those painters/tree-fellers you see at robots, even domestics could use it.....

S.A Fiverr?

 

[deekay]

So now I'm about to place my first order for goods with a supplier - just a small sample of 10 items. They are based overseas.
What is going to best the best option to use for payment. I have just created a paypal account, and they do have one.

But when I log into FNB and try to top-up, if I select the reason as "Import" there is so many fields to complete such as Clients Custom number, Tax number, VAT number and Invoice/MRN Number. I don't have a company formally registered or anything like that yet.

Would it be easier to select one of the other reason such as "Gift" or maybe to not use Paypal but use credit card instead?

Do I need to top-up anyway, or can I just transfer to the company's Paypal account directly from my FNB account.

D

 

[Alton Turner Blackwood]

Last weekend a Somalian friend came to my house for me to explain the meaning of some English words to him.

When we were done he asked me why I didn't teach English to the Somalis. He told me he can easily get me 20 people. These guys don't have ID's or passports as they are asylum seekers so they can't enroll for formal courses.

I can just get some materials and videos for teaching English as a second language online.

Its not a bad idea. An hour after work for R100 each seems reasonable. Four nights a week could potentially net R32k a month.

So there's an idea for you guys who aren't xenophobic

 

[akescpt]

Last weekend a Somalian friend came to my house for me to explain the meaning of some English words to him.

When we were done he asked me why I didn't teach English to the Somalis. He told me he can easily get me 20 people. These guys don't have ID's or passports as they are asylum seekers so they can't enroll for formal courses.

I can just get some materials and videos for teaching English as a second language online.

Its not a bad idea. An hour after work for R100 each seems reasonable. Four nights a week could potentially net R32k a month.

So there's an idea for you guys who aren't xenophobic

YY the English teacher? Blimey. Could just work.