Creating your own income balance fund: Part 1- Income Generation

Selecting a good job is one of the key to success. Many may ask how I define a good job, I would say, a good job provides you survival skill sets and molds you into a domain expert. You can be just a sales executive, probably getting about RM2000 a month. But, what you have is more than that, a skill set to sell and product knowledge. If you can make use of these, you will be able to generate extra income. Let me show you some example. What can a sales executive selling air-conditoner parts do ?

1. Do your job well: Selling Air-Con parts
Yah, this is his main job , so he work hard to archive his target. A lot of people are eager in making quick money but they do not know that it is hard to get to anywhere without proper skill set. Days of primary-six-educated-tycoon making tons of money are over, you need proper skills and these skills are accumulated where you spent most of your time at , your daily job.

2. Use your mouth: Brokering for Air-Con Contractors
After selling parts for a while, he has gain good knowledge on air-con and must have known several customers well. He can thus broker and introduce business for his customer, getting extra income. He might help his customer to broker air-con deals, or even brokering other related deals.

3. Bring it online: Advertise your skills
Tell your friends about your skills or sales leads, and let them know you can help them or their friends with that. You can even advertise in blogs or online forums.

4. Squeeze your brain: Learn an alternative skill
We always like to refer skills as sword, the more swords you carry , the more protection you have. I am sure we have better things to do than just watching the 7 pm drama or downloading Bit Torrent movies to watch at home during our spare time. Spending some time for new knowledge is always helpful in generating future income. Spend some time on niche knowledge, which you are interested in. For example, you can learn about share market, tea, finance, raring pets, loan management, cake baking, programming, design, composing... so much new things to pick up out there. The important thing is , remember to just MASTER in one or two area, or you will be jack of all trades. This will eventually lead you probably to become a amatuer tea trader, loan management consultant, designer; or , you might just get a few thousand bucks for selling off your new born Chiwawa puppies.

Excited about income generation? I will feature more income genaration opportunities from time to time for different industries under Income Generation label.