12 Side hustles to replace your 9-5 is a series dedicated to the savvy digital nomad and entrepreneurial enthusiast. I will share with you the opportunities that I have dabbled in and disclose the outcomes of each endeavour. I’ll also be sharing links to products and services that will help you along your journey. Some links will contain affiliate links so, when you make your purchase, I know that you have found the information valuable. Allow me to continue to bring you more great information and services you can use to enrich you and your family’s life.
- Affiliate Marketing
- Stocks & Options
- Amazon FBA
- Creating E-books
- Amazon KDP
- Create how to guides and courses
- Social Media Marketing
12 Side Hustles To Replace Your 9-5 continues with Trading.
Trading has been around since the dawn of civilization. Our ancient ancestors paved the way for us to build the economic system we have, one that has evolved into more than beads, trinkets, and fur.
What is Trading?
Trading goods or services. Long ago, with the development of commerce, trading has gradually grown into a modern device people use to sustain their way of life. We have done this by exchanging time for money, our old things for money, even our ideas for monetary exchange.
How does trading make you money?
The best way to make money from trading is to find someone who wants what you have and is willing to give you money in exchange.
There are multiple ways to make money from trading. Not all trading values are the same. The value is in the eye of the beholder.
You may be willing to pay $100.00 for a baseball card signed by Roberto Alomar. Someone else might see that he was on Toronto Blue Jays back-to-back World Series team as extremely valuable and pay $1000.00 for that same card.
You make money trading when you can get someone to pay you a little or a lot more for the same item you purchased.
One of the most common forms of trading that everyone is familiar with is a store purchase. Shop owners typically make a profit when they sell their goods to patrons. For example, Mr. Shopkeeper buys a box of Pokemon cards for $500.00. He will sell the individual packs to someone like Pro-TheDoge or Andrei Jikh for $5.50 a pack. For simplicity’s sake, we’ll say each box has 100 packets. Mr. Shopkeeper would be making $50 on his original $500 trade from his supplier. The mark-up of $0.50 from his new exchange goes to his customers and is where the shopkeeper profits.
Here are a couple of tips on how to increase profit margin when you are trading.
- Raise your price
- Reduce your operating cost
There you have it. A quick look into a side hustle that can replace your 9-5. Remember, trading is about finding out what people want and bringing it to them for a price they are willing to pay.
If you’re looking to get started on your trading journey, it’s always best to learn from those doing it well. Gary Vaynerchuk shows you how to do it with trash talk. 6 garage sale flip strategies to make you extra money is a gem that can’t be ignored.
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