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3 Other Ways to make money in a down economy
| | Tuesday, October 21, 2008 @ 08:21 AM EDT
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Contributed by: Ray Higdon
Ray Higdon Properties
Read more archived articles about U Make The Call
A lot of people I talk to are struggling in this economy. In my area in Southwest Florida there was a lot of real estate speculation where the profits were not realized and some people got in over their head. There is also the effect of fewer real estate transactions occurring which affects almost every industry. One topic on the minds of so many is how to make money in this market. There are so many ways to make money but I’d like to draw attention to three that I think are worth pursuing and actually work.
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One way a lot of people are making money is in brokering projects needed in the United States to companies overseas. In fact, a lot of your bigger companies do this as well. An example of this is website design, marketing plans, or logo/banner needs. Finding companies that require services and or deliverables that are willing to pay more than what you can have them done outside the United States for can have you making money just brokering the deal. This tactic is talked about in the Tim Ferriss’s book, the 4 hour workweek.
A second way people are making money is participating in at-home surveys from their computer. There are a ton of different companies out there that do this; some are more lucrative than others and some you even pay money to be a member of. However, for spending time at your computer in whatever attire you wish to wear, it’s not a bad way to make a little extra money. You can search for all the survey sites out there but here is one example that I have friends that have used to make extra income – http://www.HighPaySurvey.info />
A third way that people are legitimately making money is in referral marketing, also known as network marketing. In down economies these companies flourish and according to a company I spoke to out of Arizona, about 70 of these types of companies are formed each month in America. That’s a pretty incredible number however most of these companies never make it past year two. Some people still have the draconian “pyramid scheme” mentality that anytime you make a percentage off of other people’s efforts it has to be a scheme, but, there are so many people making money at these things that I believe that is not the majority. Warren Buffet purchased the Pampered Chef network marketing company for $400 Million; he said the reason was two words…Cash Flow. I have personally built large organizations in these types of companies and have no asterisk by where my money comes from. I really like the idea of helping others make money and getting paid in the process. In one of my organizations I have 9 people making over 6 figures in my team! If you enjoy helping other people, you could be a superstar in the right company.
I hope these ideas help you in your quest to make money in this economy.
Note: About the Author: Ray Higdon is owner of RLH Holdings, a wholesale investing company in Southwest Florida. Ray works with investors to get deals closed. Ray also speaks on Sales and Real Estate Investing.
Ray Higdon is the founder of the Forever Wealth Club (www.ForeverWealthClub.com) and an entrepreneur. Ray Higdon is a national speaker on investing, motivation and the law of attraction. http://www.RayHigdon.com
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