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Applying skill and experience to turn quick profits

Posted on | May 2, 2013 | 13 Comments

With the economy the way it is today, everyone is looking for ways they can make a little extra money to pay for bills, groceries, or just have something to fall back on in case things get worse. While there are many ways you can go about creating some extra income, the best way is to rely on your own skills and experience to turn quick profits.

If you try to go out of your comfort zone and attempt something you’ve never done before, you’re going to spend a lot of time (and possibly money) to learn about that market, business, or service before you can really make any money from it. If you use your background and current knowledge, expertise, and skillset, though, you can often find yourself making a lot of quick cash easier than you thought possible.

One example is reselling products. If you know a lot about cars and see one listed in the local paper for a lot less than it’s worth, buying it and putting it back on the market for a higher price can be a quick way to make money simply off your knowledge. Of course buying and reselling cars takes a bit of start-up capital and you might have to resort to obtaining a business loan from a site like wongaforbusiness.com to get it off the ground, but the same principle can be applied to other, cheaper, items as well without the inherent risks involved with taking out loans.

If you’re a computer guy, going to local recycling places and computer shops you can probably pick up old used desktops and laptops for $50 or less. You might have to install an operating system on them but you can then list a “basic laptop perfect for Farmville and email” on craigslist for $100 - doubling what you spent on the machine and putting a hefty profit into your pocket with minimal work.

Even if you can’t use your knowledge or expertise to find an item that can be sold at a higher price, perhaps you can use what you know to create a small book or guide that can be sold online. If you have been a farmer all your life and you know how to build chicken houses, drawing up blueprints and writing a short guide on how to properly care for your animals could be very interesting and worth purchasing for someone from the city that has moved into a rural community and wants to raise chickens.