Last night, DJH had this great question in the comments of one my older posts:
I just wanted to say, THANK YOU! for showing me all sides of making this decision, I have been in several MLMs [Multi-level Marketing] and never found one that worked for me, I was considering MonaVie but now have decided against, but I do ask, is there anything that I can do to make more money aside from getting another job?
As I was typing out a response, I realized that this is exactly the question that made me start Lazy Man and Money more than 3 years ago. It would be silly for me to address it hidden away in a comment of an older post where few people would see it.
In general, people spend money for things that they find provide them value. So I’d turn the question around on DJH and ask, “What can you do to provide value for people?”
This may sound like a cop out, but as DJH said, he never found a MLM that worked for him. Maybe it’s because providing value in the MLM world is hard work. People can go to stores and get similar products themselves – often at cheaper prices. Most people don’t need Tupperware, Mary Kay, and Pampered Chef, when there’s Rubbermaid, Maybelline, and Williams-Sonoma around. If people want food containers, makeup, and high-end kitchenware, they simply buy it at their convenience. They don’t need to spend a night at a “party” to accomplish this. In fact, much of the time people are only going to those parties because they want to help out the person throwing it. Almost everyone I’ve ever talked to said it’s tantamount to giving them a hand-out.
However, getting back to the original question, I asked myself the same thing, how to make money without another job, when I was creating this website. It’s why Lazy Man and Money exists.
I looked at all sorts of investing. Should I buy condohotels in Vegas? (Glad I didn’t.) Should I actively trade tech stocks – something that I know about? (Ditto – glad I didn’t.) I even invested a lot of money in peer-to-peer lending like Prosper thinking I’d get a 13% return, which compounds really fast. (That idea fizzled as defaults started to pile with my sub-prime lending practices.) I think investing is one way to make more money, but almost all investments have risks. If you are looking to rich that way, you either have to start out rich, take significant risks, or wait a really long time – and nothing is guaranteed.
While different people look for different things, I was looking for alternative income. It’s a little like passive income, but true passive income is really difficult – some would say even impossible. I defined my idea of alternative income and still hold to that standard today. I even approached it from the other side and realized that there are many ways to define retirement. In one of my definitions of retirement, I can almost retire whenever I want. (In fact, I did that for 18 months, before choosing to contract because the money was just too good to say no to. I’ll begin another round of retirement on the 14th of September though.)
Oddly my quest for the solution became the solution. The website you are reading makes me good deal of supplemental income. Yes, getting it to that point was not what many would call “easy.” It took a lot of time and work. However, it is something that I enjoy doing. So I learned the lesson that getting paid for doing something I love is a very much like making more money without getting a another “job.”