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5 Reasons You Don’t Have An Alternative Source Of Income And How To Solve Them - Business - Nairaland

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Simple Steps To Develop A Second Source Of Income In Nigeria / 4 Challenges Of Setting Up A Side Income And Working Full-time / Need A Genuine Alternative Source Of Income (2) (3) (4)

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5 Reasons You Don’t Have An Alternative Source Of Income And How To Solve Them by importexpert(m): 11:20am On May 31, 2017
What would you do if you could double your present income? What amount of luxury and comfort would that bring? Many people dream about it, but that is all they ever get to do. The reason is that they are occupied with a job which is difficult to quit. The job at least keeps body and soul together and helps them pay their bills. A few weeks ago, a study revealed that over 75% of Nigerian graduates earn less than, fifty thousand naira monthly. That is a depressing report.
Many people have thought of having a side job that could bring in extra cash to augment their monthly pay. You may have thought about this too. But you there are a few reasons why achieving this goal seem impossible. Here are a couple of them that you may have thought about.

1. Time: The average conventional job gulps at least eight hours of your time daily. Sometimes, it stretches to as much as ten hours or even twelve hours in some extreme cases. This is Nigeria, and you can be sure that most of these jobs that demand so much time hardly give sufficient pay. So after working tirelessly all day, you are probably drained and fatigued. It is almost impossible to be productive for that day anymore. Besides, rarely would an employer hire a worker at about 4 pm that would not translate to a night shift. That means it is impossible to have two jobs; the time would be grossly inadequate.

2. Idea: This is the probably the toughest of all the reasons. The reason is that ideas do not come at will. You cannot force yourself to have a brilliant idea. Have you not noticed that your most fantastic ideas about certain things came while you were not searching for them? This is why sometimes, some people have money but do not know what to do with it. The ideas are just not coming. If you have an idea of how you can shore up your income, you have solved at least 50% of the puzzle. Remember; when we talk about an idea, we refer to something that is not obvious but is novel and can bring in profit. Most people who want to increase their earnings do not know how they can do it.

3. Capital: Business needs money to get kick-started. And the issue of capital is a big one. How on earth can someone who is struggling to make ends meet possibly raise capital for a business? One could think of taking the route of getting a loan, but once again, this is Nigeria. Getting a loan is difficult. A loan that was once advertised to be collateral-free. It required the loan seekers to get guarantors who were worth millions of naira. That’s preposterous. And it is frustrating to have an idea and not have the funds to translate it to reality. So, you have probably considered the financial implications which made you shrink back from the thought of having an alternate source of cash.

4. Information: It is easy to have a general idea of the business you want to engage in. I have met people who always have business ideas. Quiz them a bit about it and watch them fumble because they do not have the right answers. They believed they had an idea, but they did not grasp what it was about. In business, the success is not just solely about the idea, but it is in the execution. There is a certain kind of boldness that you have when you are armed with sufficient details about a business idea. It gives you the mindset that you cannot but succeed. If you have seen many business proposals but never truly understood them, then you can easily relate with this.

5. Convenience: We all love our rest. Nobody loves stress. Having a side job is stressful. It means you will have to cut down on a lot of things like your sleeping time, your personal time, time for your hobbies, time to hang out with friends, etc. Ultimately, the harder you work, the meaningless everything may seem to become. Why? Because all work and no fun can be depressing! You want an avenue where you can earn the kind of pay you desire and yet not sacrifice all your time. You want something that can add up to your monthly earnings but will not leave you stressed nor affect your health. This is an important point to take notice of.

All in All, If you truly desire to have an alternative source of income, and you hold the above points as criteria, you should consider working online. It requires less time, little or virtually no monetary input and gives you flexibility through which makes it convenient for you to work. What more, you can glean off a lot of information from experts in the field. An excellent example is Affiliate Marketing.
A journey of a thousand miles starts with a step. Take the bold step today.

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Re: 5 Reasons You Don’t Have An Alternative Source Of Income And How To Solve Them by importexpert(m): 11:22am On May 31, 2017
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Re: 5 Reasons You Don’t Have An Alternative Source Of Income And How To Solve Them by strawb(f): 11:45am On May 31, 2017
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Re: 5 Reasons You Don’t Have An Alternative Source Of Income And How To Solve Them by eezeribe(m): 12:32pm On May 31, 2017
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