I really hope most of you are staying at home! I'm on Day 29 of my self quarantine. Of course, I'm right in the epicenter and immuno compromised, so I'm being safe. Trying to tune the world out now...because the news around me here in New York is not so pleasant.
Anyway, I know many of you are making the best of bad situation and turning lemons into lemonade. There are all sorts of thing I know you are doing to help your business in the long run (and I'm trying to do the same).
And, I know that some of you are even helping your immuno compromised clients and neighbors, and that warms my heart. Even the smallest thing now can make a huge difference. I'm so thankful for my peapod deliveries...and for my brother who delivered my prescription (as many of the UPS centers keep getting closed down for Covid).
Anyway, while I am stuck at home, I'm very lucky that I can earn an income from home. As many of you know, a little over 3 years ago, I had to take a 2 year hiatus from my flooring business (due to a non compete). I had to figure out how to bridge the gap for 2 years (and I'm in a high cost of living area so that made it extra tough).
I decided that I would try to monetize my blog.
I didn't even know this was possible until a year before (I wish I had known sooner).
Yes, it was slow at first. I earned around $1,500-$2,000 a month for most of the first year from my blog (and I took on 2 part-time jobs to make sure I could stay afloat).
But, by November of that year, my blogging income went to $3,300 and in December, it was $4,100...and then it just kept going up and up.
By month 19, I earned $10,000 profit. And, by month 27, I got up to over $20,000 a month. (Yes, my journey was faster than others because I had an existing blog, knew SEO (thank you ActiveRain anda) and I was VERY determined.
It's now been 13 months in a row of earning at least $20K per month...and a couple of those were $28K months. I was $238K in debt 3 years and 3 months ago; now I'm down to$59K.
Yes, the virus that shall not be name impacted my income in March...it impacts everyone. I was on track to make $25K...but only got $20K which isn't so bad (LOL).
I expect to earn less these few months, but I'm sure it won't be too bad. And I will work to improve it (I'm a fighter), so we'll see. I will get the debt paid off soon enough (yes it will take longer than I thought it would in February, but it will happen soon enough.
So why am I telling you this?
Well because if you are sitting at home stewing about your business or getting bored, stop that right away.
Figure out what you can do at home to grow your business.
And, if you have extra time beyond that and/or you want to try an additional income stream, consider monetizing your blog (or creating an additional one in a different niche). Pick a hobby - something you enjoy.
If nothing else, it will be a new project for you to get your mind off of things. And, maybe later, you can make some extra income, too.
One of my favorite ways to monetize is via the Amazon Associate program. I usually make at least $7,000 a month just from that (and I still did in March. This article can help you on that (if you're interested). How I earn $7,000 a month on Amazon Associates.
I may also have an article on how to start a blog on wordpress (in case you're not sure). I'll see if I can find that for you, if you have an interest.
Anyway, this may be a way to turn some of your stay at home time into something productive. And, if you're a few years away from retirement, this may help you if you start now, so that if you want to retire in 3-5 years, you can have a source of passive income...like I do.
Yes, I will get my debt paid off soon, have a very healthy income and now I have a real retirement plan.