The Best Way to Make Money Quickly: Provide a Service that Solves a Problem for Someone ElseAug 08, 2023
Looking for the best way to make money quickly, to meet a short-term need or create long-term sustainable income? Well you’re going to love today’s show, because I’ll be sharing 6 reasons why providing a service that solves a problem for someone else is one of the fastest and best ways to generate income. And I’ll share practical steps you can take to get started today.
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Links for Today's Show
- Watch this Episode on YouTube: https://youtu.be/YZuwVvuQmxA
- Free PDF: How to Know if Starting a Business is Right for You
- My Last Post: How to Find the Time to Launch Your Own Business or Side Hustle
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What's the Best and Quickest Way to Make Money?
A podcast listener named Mike wrote me an email asking this question:
I’m in between churches right now, and the search to find my next ministry role is taking a lot longer than I expected. What’s the best or quickest way for me to make money right now while I’m waiting?
Mike, thanks so much for your question!
We've all been there at some point, haven’t we? Needing to find a way to generate more income. Maybe it’s because we’re in between churches like Mike is, or we need to find ways to create more income to pay unexpected bills, reduce debt, or something else.
Whatever the reason, I believe the quickest way for a pastor, or anyone, to make extra money, or even full-time income, is to provide a service that solves a problem for someone else. Here are 6 reasons why...
6 Reasons Why Providing a Service that Solves a Problem for Someone Else is the Best and Quickest Way to Make Money
1. Demand for Services
People are willing to pay money to meet a need or solve a problem. So look for a problem or need that people are actively seeking solutions for. By offering a service that solves a problem, you tap into existing demand, and this could lead to a steady stream of customers or clients seeking your services. Whether it's providing web design services, tutoring, home organization, or specialized consulting, understanding what people require and delivering a solution can attract customers quickly. That’s why there are apps like Uber, DoorDash, Shipt, and Poplin. We’ll talk more about those in a bit.
2. Quick Turnaround
Unlike developing a product or building a business from scratch, providing a service allows you to start earning money relatively quickly. Once you establish your service and acquire your first clients, you can start generating income immediately. This rapid income generation can provide a sense of financial stability and motivate you to further expand your business or explore new opportunities.
3. Low Startup Costs
Many service-based businesses have relatively low startup costs compared to ventures that require physical products or extensive infrastructure. Depending on the service you offer, you may only need minimal equipment or supplies, making it easier to get started without significant upfront investment.
4. Utilizes Your Skills and Expertise
Offering a service allows you to leverage your existing skills, knowledge, and expertise. This can include anything from graphic design, writing, consulting, tutoring, coaching, or even handyman services. By capitalizing on what you already know and do well, you can provide value to others and monetize your abilities.
5. Flexibility and scalability
Service-based businesses often offer flexibility in terms of working hours and location. You can choose to work on a full-time or part-time basis, and you may have the option to work remotely or set your own schedule. Additionally, as you find success and want to expand, you can scale your service by hiring employees or subcontractors to meet increased demand.
6. Builds Upon Your Personal Network
Starting a service-based business, you already have a valuable asset from the very beginning: your own personal network. So it’s a great idea to tap into your existing network of people to identify those who might need your service, and those who might know someone else who does. And as you serve people well, your personal network will grow from repeat business, referrals, and positive reviews.
Gig Apps Make it Easy to Get Started
Today it’s easier than ever to make money quickly by providing a service to others, even if you don't have particular skills, using gig apps and sites like these:
- No Skills Required: Shipt, Uber, DoorDash, Amazon Flex, Poplin, or even AirBNB
- Skill-based Freelancer: Upwork, Fiverr, or even Craigslist
- Product-based Sales: Amazon & Etsy
- Skill & Service-based Platform: Your own website, Craigslist, or word of mouth
8 Steps to Launching Your Own Service-Based Business
But if you're ready to put your skills and experience to work to provide a service that solves a problem for others, here are 8 easy steps to get started, starting today!
- Make a list of 20 or more things you know, love, and could probably make money doing.
- Choose one, or a couple that are complementary, and identify all the related problems you could solve and services you could provide.
- Start talking about it 3-4 times a week on social media. “Hey I’ve been thinking about helping people do _______, or offering a service to help people do _______. If I can help you, or if you know someone who I could help, please DM me..."
- Make a list of 20+ prospects who could use your service and begin reaching out to them. Ask for coffee or a 15 min zoom call to let them know what you’re doing and see if it might make sense to work together.
- Make a list of 20+ referral partners - these are people who might be able to refer prospects to you. Ask for coffee or a 15-min zoom call to let them know what you’re doing and see if it might be right for someone they know.
- Offer to help a few people for free.
- Track the progress of the people you’ve helped and ask for testimonials and referrals.
- Share those success stories on your social media.
Next, continue reaching out to the people on your list, keep adding new people to reach out to, and begin to charge for your services.
Application & Action
I hope these tips have been helpful for you to see how powerful and easy it is to generate income by providing a solution to someone's problem. If so, would you please do me a favor and leave a review on Apple Podcasts, sharing what you like about this episode?
Also, sharing is caring, so is there someone you know who needs to hear this message? If so, please take a moment to share it with them.
I hope you'll join me for the next episode, where I'll share how I'm following these exact steps to launch some new services to help pastors and churches future-proof their finances.
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