The strategy described focuses on achieving a consistent daily income of $100 through a mix of freelancing, selling products online, and investing in dividend-paying stocks. In the freelancing approach, the focus is on identifying in-demand skills, setting up profiles on platforms like Upwork and Fiverr, and creating a diversified portfolio to attract clients. For example, if you're skilled in graphic design, you could offer your services on these platforms, attracting both one-time and repeat clients by continuously updating your skills and seeking referrals.
In the online selling strategy, success hinges on researching trendy products and creating an engaging presence on platforms like Etsy or Shopify. For instance, if you decide to sell handmade jewelry, you would need to source quality materials, build a brand identity, and use social media marketing to expand your reach. Offering excellent customer service and strategic promotions can further boost sales.
Investing in dividend-paying stocks involves educating oneself about the market, identifying stable companies, and diversifying investments. By regularly contributing to and monitoring this portfolio, individuals can reinvest dividends for growth. For example, investing in a stable utility company could provide both dividends and a hedge against market volatility.
The strategies
⛳️ Strategy 1: Start a freelance service
- Identify in-demand skills you possess that can be offered as a freelance service
- Create profiles on platforms like Upwork or Fiverr to reach potential clients
- Define clear service offerings and set competitive pricing to attract initial clients
- Develop a professional portfolio showcasing previous work to build credibility
- Seek to build relationships with repeat clients for steady income
- Dedicate a set number of hours each day to working on freelance projects
- Continuously improve your skills through online courses and certifications
- Ask satisfied clients for reviews and referrals to grow your client base
- Stay updated with industry trends to offer relevant services
- Regularly review and adjust your pricing model to reflect your growing expertise
⛳️ Strategy 2: Sell products online
- Research trending products or niches to find suitable items to sell
- Create an online store on platforms such as Etsy, Shopify, or eBay
- Build an appealing brand and design attractive product listings
- Source quality products at competitive prices to ensure a reasonable profit margin
- Utilise social media advertising to drive traffic to your online store
- Provide excellent customer service to encourage repeat purchases
- Offer promotions or discounts to boost sales and attract new customers
- Track and analyse sales data to adjust inventory and pricing strategies
- Explore expanding your product range based on customer feedback
- Keep up with seasonal trends and events to offer timely products
⛳️ Strategy 3: Invest in dividend-paying stocks
- Educate yourself about stock market investing and dividend stocks
- Open a brokerage account if you do not already have one
- Research and identify financially stable companies with a history of paying dividends
- Diversify your investments across different sectors to reduce risk
- Determine a suitable amount of money to invest initially
- Regularly contribute to your investment portfolio to increase dividend income
- Reinvest dividends to compound growth over time
- Stay informed about market trends and economic news that can impact your investments
- Consider consulting with a financial advisor for personalized advice
- Monitor your portfolio and adjust your strategy as needed to ensure growth
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
