From the point of view of a business and marketing research collective, we perhaps have a better vantage point in assessing the prospects individuals have in their desire to venture into the business world. Many working-class individuals fully acknowledge the need to break out of the 8-4 mould and supplement their main income, but between their full-time jobs and full lives, this is understandably very challenging.
The trick to it however is that of assessing your current situation and looking at what you have to work with. That’s where you need to start – start right where you are with what you have, no matter how little what you have seems to be. The average consumer would perhaps rightfully look towards the traditional channels of taking the leap into the business world, but because you’ll likely be limited in the funds otherwise required to throw into a business or entrepreneurial venture, you need to think outside the box.
Look at Your Everyday Processes and Activities
If you think about any process which you ritualistically go through every single day (this really can be any process at all), chances are in completing that process and going through the motions you’re spending your money in some or other way. If you’re having a shave in the morning, you’re spending money on electricity in addition to the money you spent up-front on acquiring that shaver of yours, albeit that was indeed a one-time investment.
If you’re watching the weekend sports on your television, you’re spending money on power again and you’re perhaps spending money on some snacks and drinks you bought, complementary entertainment (like perhaps if you have your friends over), your sports channels TV subscription plan, etc.
So that’s where to start – just zone in on one activity you religiously and frequently engage in.
Find the Money-Factor
Once you’ve zoned-in on one activity you engage in frequently, you can then start to think about the dynamics surrounding its monetisation. How is money made and spend in relation to that activity?
Let’s expand on the weekend sports example, shall we?
Who makes money when everyone is watching sports? Everybody else who’s passively watching is spending money while a few people make money! You need to find a way to cross over to the side of those people who make the money as opposed to the ones who spend it and in the world of professional sports it would most definitely be difficult and expensive to try and operate within the realms of the sponsors, professional athletes, professional sports teams and any other industries and markets which make money from the sports industry.
So the next best thing would perhaps be something like sports-betting, with the William Hill Sportsbook making for a great direction to look in if you want to be a more economically active sports fan.
Get People Onboard
The last step is to get other people involved, such as perhaps starting a local betting club which bands together to cover more winnings odds with whom you’d split the winnings which are more likely to be amassed if the sports-betting is approached as a group.
This is but just one example of how you can literally monetise any area of your life which is engaged in so frequently that it has become second-nature.