Whether you’re already a successful Mompreneur or you’re just now considering developing alternative sources of income, here are the top 5 alternative revenue stream generators that you must start thinking about. (and that no one is talking about). We’ve already looked at Modern Business Ideas, now we’ll expand a little more.
- COMMUNITY DRIVEN SOLUTIONS PROVIDERS.
It’s the most obvious of all business ideas. Doing for your community – what no one else can, want to or has thought about doing. Home care, after school private-
tuition, being an “uber-mom” (as in the Mom who shuttles kids to and from school, sports extracurriculars) etc.
This is hands down the easiest business to get set up in and what’s more, you already know your customers. Did you know that as much as 70% of personal network referrals turn into actual revenue? That’s a conversion rate most corporates could only salivate over.
- ORGANIZE YOU. (THEN EVERYONE ELSE AND GET PAID FOR IT).
As a Mom, you already possess some keen organizational skills and these skills regularly top the most sought-after skills for recruiters. So, turn what you’re already doing for you into a solution for all the moms in your neighbourhood. Sort out party planning, kids schedules, ride schedules, examination reading lists and then run a service to do all the buying and negotiating and add on a nice percentage management fee for yourself.
- TURN YOUR HEAD TOWARDS THE BUSINESS OF FINANCE.
If you’re in the fortunate position to have some extra cash and you want to make it work for you, really work for you then you should consider a relatively new form of investor based lending, known as “peer-to-peer” lending. This form of financing started after the 2008 credit crunch when businesses and startups found it near impossible to access lines of credit, and it involves investors (that’s you) putting up the cash for businesses to lend. You can find some of the best investor websites here.
4. AND SPEAKING OF FINANCE.
More moms have made trade for a living possible in the last few years. They are learning and practicing trading strategies and are getting well adapted to their newfound career in financial markets. Contrary to popular belief, you don’t need thousands or even hundreds of thousands of dollars to get started and if you’re just starting then check out apps that let you play with “fantasy money” to get into the swing of it and once you’re feeling a little gutsier then you should consider upping your game and trying your hand at online forex trading and Metatrader 5 is a good place to start.
5. EMPOWERING WOMEN AND GETTING PAID FOR IT.
Probably one of the best-kept secrets of the rising Mompreneur economy is that of “skills transference”. A descriptor usually reserved for the corporate world, in today’s diverse mom-driven economies, you can take all of what you’ve learned above and turn your own experience into a monetized, Pinterest based resource. Every time an information resource is turned into a solutions-based program, the collective consciousness within the particular economy it is working in, gets bigger and the more participants within that economy, the more new, fresh and creative ideas get generated.
Women are uniquely positioned to take advantage of local opportunities as they’re more likely to be part of ideas based discussions with friends and contacts and these conversations happen everywhere and all the time. At school, on the sports field, at the grocery store, a little creative application to what you’re already doing can become something, entirely different.