Moonlighting to Supplement Your Income

Because of the lack of available credit since the housing collapse, and the broader poor economy, more and more people are moonlighting to generate a second income to survive. Before the recent economic slump people mostly moonlighted to buy luxury items.

There are various forms of moonlighting. Ranging from having a second job, becoming self-employed, or being someone skilled at what they do and offer their service to anyone outside the normal hours of their day job.

The latter type of moonlighting may be a win-win situation for both the consumer and the moonlighter.

First, the consumer gets a professional job done at a fraction of the cost of hiring a company that the professional works for.

Secondly, the benefit to the moonlighter offering their service outside of normal work hours. Specifically, not having to take time off work, and receiving greater compensation for their time compared to doing the job through their company.

However, there are risks to consider for both the consumer and the moonlighter.

For the consumer wishing to use the services of a moonlighter it only makes sense to use someone highly recommended and who is insured for the work being performed.

The greatest risk is on the moonlighter

The moonlighter risks being let go if their employer finds out they are competing in the same field. The moonlighter would do well to review their employment agreement.

The moonlighter needs to have the correct liability insurance for their trade to cover accidents and omissions.

Another type of moonlighter is one who start their own online business, and there are more and more like this every day. The possibility of making a substantial second income online has a big draw.

Regardless of the type of moonlighter, the objective is to make money. This can’t be stressed enough, when you make money you must keep records. You must record all revenue and expenses in order to meet your tax obligations.

Resources:

• Online Income
• Record Keeping
• Business Ideas

It use to be that traveling was affordable and fun. That’s no longer so now that gas is near four dollars per gallon, and over four dollars per gallon in some places. Then when you consider how the dollar is growing weak it’s not a suprise that prices have gone up in the hotel and travel industries, regardless of the official inflation number says. However, business must go on and fortunately there are a many new technologies to help us do business without the expense of travel, like video conferencing.

I and definitely not advocating personal contact isn’t important. Sharing a meal, playing a game of golf, and actually shaking hands are still great ways to build a relationship and close the deal. But that has become a very costly way of doing business. Today there are many ways to stay in touch and connected while actually saving time and not spending a fortune.

It’s just a matter of choosing the best productivity tools for you and avoiding the pit falls. That’s all.

Cell phones, for example, allow you to stay in touch virtually anywhere on the planet, but productivity goes down the drain if you allow yourself to become a slave to them (think of the Crackberry BlackBuried Blackberry addiction of some of your colleagues).

Email is still a terrific way to communicate. However, if you don’t manage you contacts well you may end up spend a lot of time sorting through spam or you’ll risk losing an important message from the spam filter.

Instant messaging (i.e., texting) is great for quick answers and resolving issues. Just don’t let the conversation drag on, or get caught up texting with friends who have a lot of time to waste.

Video Conferencing

Video conferencing using a service like Skype can have the warmth of personal contact and the efficiency of electronic communication. The interplay between you and the people on the other side of the connection is immediate. A video conference can be run on computer anywhere there is a connection.

A video conference ran well provides the same benefits of a face-to-face meeting but much more cost effectively. The current technology allows you to make presentations, provide a seminar (webinar), or have a one-on-one with electronic documents or multimedia, while seeing and interfacing with the other person (people) in real time.

Resources:

• Video Conferencing

There are many advertising methods to get youself or your business noticed online. They include SEO for search engines, pay per click (PPC) advertising, advertising co-ops and joint ventures, posting forums and boards that cater to your target market, press releases, and article writing.

Off-line advertising and marketing is ignored by many online marketers. However, there are many ways to advertise off-line that is free or costs very little. I want to let you know about three of them.

1 – Business Cards

Business cards are a requirement for anyone who is serious about their business. They’re a superb method of getting the attention of prospects and keeping the attention of customers. Just hand them out to anyone you think will benefit from what you’re offering. Additionally, leave a card behind whenever you visit a club, bar, or restaurant. There is one salesman who says putting one in each bathroom stall generates leads.

If you are just starting out in business you might consider printing your own business cards at home.

2 – Brochures and Flyers

You can easily create brochures and flyers with today’s desktop publishing and computer technology. Simply post flyers (with permission, of course) at businesses and other location where you think your potential customers will see them. Or hand out brochures to the people you meet throughout your day.

A lot of bars and restaurants will let you post a flyer in their places as well.

Grocery stores too. Many have cork boards near the front door for just this purpose. With hundreds of people walking by every day.

3 – Advertising With You Car

Yes, that’s right! Your car is a great vehicle for advertising. Place magnetic signs on the sides of your car with you company name and web address on it. It’s like a big business card on the side of your car.

In this way you and your business will be exposed to a large number of people whether you’re driving, parked, or stuck in traffic. These magnetic signs aren’t very expensive either. Check with a local sign maker to learn the cost.