Last Updated on June 20, 2021 by Ava
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Greetings, Cashflowers, and welcome! Last week, I talked about one of the most important lessons I’ve learned in working online: success takes multiple streams of income.
You can’t just jump online, and generate a ton of cash from one endeavor immediately unless you are an absolute unicorn. We just can’t all be Jeff Bezos.
This week, I’m going to share with you another profound lesson: you must have cash flow to build a business online. While doing everything online allows you to avoid a ton of overhead, it still takes money to make money.
So, my friends, we’re going to find out how to get some cash flowing, so you can get started, so stay tuned!
Your free Amazon Business account is waiting for you and it’s absolutely free! You get exclusive discounts, fast shipping, and everything you love about Amazon.
Find out more at HeyYoAva.com/amazonbusiness.
You Need Money to Make Money
I have talked a ton on The Candid Cashflow Podcast about getting started with things absolutely free, and it is possible to make money online without any capital or cashflow.
It’s much easier if you have a bit to invest.
If you have more time than money, you can invest time to learn the things you need to know to establish and run your business.
If you have more money than time, you can essentially buy your way into business.
The best case scenario is to have a little of both!
I have learned a TON over the 12 years that I’ve been messing around online with websites and stuff. All of that knowledge and experience permeates everything I do and how I think about things.
My road to success has been long and slow, but I’m sharing everything I know so maybe yours won’t be!
How To Get the Cash Flowing
Depending upon how much money you need, this can be crazy simple. Websites are extremely cheap if you have a little knowledge on how to go about building one.
I don’t think a lot of people are aware that a dot com domain is around 12 bucks per year, and that’s on the higher end.
Hosting is equally inexpensive. A lot of hosts offer annual plans as little as $2.95 per month. For less than $50, you can get your website online for a year.
So, it really comes down to what you’re trying to do with your business online. How much money do you need?
It’s very possible to get a few hundred bucks to start you business quite easily. It’s going to depend on your skill set and level of commitment.
3 Ways to Earn Capital to Invest In Your Online Business
- Your job. If you are currently employed, this is a great source to set aside a little cash for you business if you can.
- Performing services. Whether it’s offline or on, you can provide services to generate a bit of cash. I know people who mow yards to earn side cash. You can use a website like Fiverr to provide services and earn a bit.
- Sell stuff. Who doesn’t have old stuff lying around that you don’t use anymore. Anything in decent condition can be sold in a number of ways.
Heck, do all three! Whatever it takes!
Let Me Just Say This
In 2018, no one should be struggling financially, but we still are. There are a million opportunities at your fingertips.
You can make money playing video games, for Pete’s sake! If you’re wondering how, we discussed that in Episode 27 of The Candid Cashflow Podcast when we talked about live streaming on Twitch.
All you have to do is find what jives with your talents and abilities and grind it out! I promise you that there is a side hustle that will work for you perfectly. As per our conversation last week, I would suggest using multiple side hustles!
If you’re like me, once you have a little side cash coming in, you start thinking about all the things you can buy!
How can you reinvest that revenue into your business and make it better?
There will always be a way to invest in your business. Take a course to learn a new skill. Hire someone to create better graphics for you. Hire a good content writer. Buy a service to add a new functionality to your platform.
Whether it’s time or money, there is always room to invest it in the betterment of whatever you are doing online. I’m not one to use a ton of flashy services, but many of them do work.
Prepare to Fail
Failure is not just possible, it’s probable. I cannot count my failures. Unless you are King Midas himself, the percentage of things you touch that turn to gold will be nil.
Every failure is a lesson.
Learn, and move on. You will be better for it. The pieces of knowledge that you gain from your failures were the lessons you had to learn to reach success. It is the rule, and there is no exception.
Scale What Works
Once you have something that is working and generating consistent cash flow, scale it or use it to fund whatever business you really want to build.
There is nothing wrong with using one business or income stream to fund another until you have it off the ground.
At some point, you’re going to have to decide if you want to scale up or if you’re happy with where your business currently resides.
Build whatever is working for you to the point you are happy with and enjoy the ride.
Remember, there are a ton of ideas in the many episodes of The Candid Cashflow Podcast, links coming right up.
That’s a Wrap!
Thanks for listening! Just to recap, the two most important lessons I’ve learned in my 12 years of making money online are:
- It takes multiple streams of income.
- You need money to make money.
If you’d like to explore the many opportunities available, check the archives at HeyYoAva.com/candidarchives. I’ll include links in the show notes to a few ebooks containing the show notes for 10 episodes at a time. Grab those at HeyYoAva.com/Episode44.
You can go through and choose the opportunities that fit you best. Not everything is a huge time or money investment, and you can start by taking action today!
If you’d like to suggest a guest or be one on an upcoming show, email me at HeyYoAva.com/contact-ava/. I’m waiting to hear from you.
Remember, I release a new episode each Wednesday.
Until next time, turning your passion into cashflow!