If you are interested in building a second income source immediately or wish to lay the foundation for it to bloom after you retire, here are some practical tips.
In our opinion, every business should be guided by these two brilliant quotes by Rand Fishkin and Chris Do.
Best way to sell something – don’t sell anything. Earn the awareness, respect, & trust of those who might buy – Rand Fishkin Feb 5 2015
Don’t chase fame. Don’t chase popularity. Don’t chase money. Focus on impact. The more impact you create for others (clients, friends, family, strangers) the more successful you’ll become. This is the metric that matters. – Chris Do Jun 24 2021
1 Do not spend time and money advertising to make a quick buck. Time and effort spent creating useful content will not immediately be profitable, but it can generate a higher, satisfying ROI in the long run.
I have nothing against advertising, but it is best done when we understand who our audience is and what they want. Today, there is a much better way to showcase our content to a new audience for free, but it requires consistent, helpful content creation.
2 Focus on your niche, strategy and products. Do not attract unnecessary attention, particularly on social media, by commenting on social or political issues.
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3 Many digital marketers tend to hold back valuable information. They will offer a free ebook or a paid email course for Rs. 199, which will only serve as an advertisement for their main course costing 10K.
Do not withhold information: share everything you know in two steps: Share 80% of your expertise for free without expectation, and share the remainder for a fee. No gimmicks.
Many marketers have a tired product structure. You buy a silver-level product, and all you will hear is how good the gold level is. You then buy that, and then all you hear is how good the platinum level is. This is like insulting your audience. Offer a single paid level and offer everything you have to offer there. No silver, gold, or platinum memberships!
4 Treat others like you wish to be treated: Do not offer a discount that you claim will only last until midnight but is always present! Scarcity marketing works, but one should do it honestly. Do not offer a product for 1999 and then add a “convenience fee” later.
5 Assume your readers are intelligent and not otherwise. Do not offer a Rs. 5999 product for Rs. 999 and claim it as a discount. Your product is only worth Rs. 999!
6 Content wording matters. This is another positive lesson. Good marketers are generally efficient communicators. They can write emails like they are talking to you as a person. This is something I need to learn! Also, how you word an article title, or a product matters: The right sequence of words makes a huge difference.
A salaried person looking to increase their income, a businessperson trying to showcase their products, or a professional trying to get consistent clients can build trust online without any gimmickry.
Thus, the idea was born that one can build an income that can last a lifetime by offering value to a community with the utmost integrity. This resulted in Freefincal’s second course – Increase your income by getting people to pay for your skills! It was particularly designed to avoid many common “tricks” and deceptive practices followed by popular online marketers (in our opinion).
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About The Author
Dr M. Pattabiraman (PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over 13 years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), LinkedIn, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free, AUM-independent investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,500 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Increase your income by getting people to pay for your skills! ⇐ More than 800 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner seeking more clients through online visibility, or a salaried individual looking for a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you. (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our book for kids: “Chinchu Gets a Superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting a side income via content writing. It is available at a 50% discount for Rs. 500 only!
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About freefincal & its content policy. Freefincal is a News Media organisation dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact Information: To get in touch, please use our contact form. (Sponsored posts or paid collaborations will not be entertained.)
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